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In only the second bank IPO since mid-2007, a Montana company's shares debuted on the Nasdaq this week. Analysts say the initial public offering from First Interstate BancSystem Inc. of Billings, which raised $145 million Wednesday, is another sign that the capital markets are thawing and companies are starting to take advantage of that.
March 25 -
Berkshire Hills Bancorp (BHLB) has hired a team of five away from TD Bank to open its first commercial banking office in eastern Massachusetts.
February 7 -
Berkshire Hills Bancorp (BHLB) in Pittsfield, Mass., has given Michael Daly, its president and chief executive, the added title of chairman.
December 18
First Interstate BancSystem (FIBK) in Billings, Mont., has named its next chief financial officer.
Kevin Riley will take the job Aug. 15, the $7.4 billion-asset company announced Monday. He will replace Terrill Moore, who is retiring after 24 years as CFO.
Riley, 53, is leaving Berkshire Hills Bancorp (BHLB) in Pittsfield, Mass., where he has been CFO since 2007. Earlier he held various executive positions with KeyCorp (KEY) in Cleveland.
Moore, 60, has been First Interstate's CFO since 1989 and has been with the company since 1979. He will remain with First Interstate through June 30, 2014, to help smooth the transition and work on special projects, the company said.
First Interstate has 76 branches throughout Montana, Wyoming and South Dakota.
The $5.3 billion-asset Berkshire Hills has retained Mario Solari, an audit and accounting partner at the law firm Whittlesey & Hadley, to serve as interim CFO while it searches for Riley's successor, it said Monday. It also announced the promotion of Josephine Iannelli to principal accounting officer; she joined the company in March as chief accounting officer.
Berkshire Hills has 74 branches in Massachusetts, New York, Connecticut and Vermont.
