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    Nicholas Moutafakis • Keefe, Bruyette & Woods

    Nicholas Moutafakis's questions to First Interstate Bancsystem Inc (FIBK) leadership

    Nicholas Moutafakis's questions to First Interstate Bancsystem Inc (FIBK) leadership • Q3 2024

    Question

    Nicholas Moutafakis of Keefe, Bruyette & Woods, on behalf of Chris McGratty, inquired about further expense reduction opportunities in 2025 and the outlook for loan demand.

    Answer

    CFO Marcy Mutch responded that improving the efficiency ratio is now more dependent on revenue growth than further expense cuts, as expenses are well-controlled. CEO Kevin Riley described loan demand as tepid, citing uncertainty around the election and interest rates, and was hesitant to predict when a pickup in pent-up demand might occur.

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    Nicholas Moutafakis's questions to Cathay General Bancorp (CATY) leadership

    Nicholas Moutafakis's questions to Cathay General Bancorp (CATY) leadership • Q3 2024

    Question

    Speaking on behalf of Chris McGratty, Nicholas Moutafakis asked for confirmation of the Q4 amortization run rate for low-income housing tax credits and inquired about the likelihood of renewing the stock buyback program in 2025.

    Answer

    EVP and CFO Heng Chen confirmed that $10 million is the correct amortization run rate for Q4. On the share repurchase program, he stated the Board will consider a new authorization after the current one is complete, suggesting a similar or slightly larger program could be possible.

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