First Interstate Bank has announced that it will raise the minimum hourly wage of employees from $15 to $17 for both new and current employee compensation effective October 1. This wage increase represents a pay boost for 64 percent of the First Interstate workforce and underscores the Bank’s ongoing commitment to the financial wellbeing of its employees.
“It is my sincere hope that these wage increases not only provide financial relief, but reinforce how important our people are to us,” said Kevin Riley, president and CEO of First Interstate Bank. “They live our mission, vision and values every day, and are what make our community banking services so special to the clients we serve. We couldn’t be happier to invest in our employees’ future and wellbeing.”
The wage increase builds on a robust benefits package that includes a six percent employer-matched 401(k), childcare assistance program, exercise reimbursement program and student debt employer repayment program. Earlier this year, First Interstate took additional steps to ensure all employees receive a living wage by providing a fuel stipend of $130 each month to employees with annual salaries of $65,000 or less.
“For us to be successful as a community bank, we have to take care of colleagues and deliver on our commitment to be a great place to work,” said Rachel Turitto, chief human resources officer at First Interstate Bank. “Providing strong pay and competitive benefits to our team members and their families is why we’ve been able to attract and retain the best talent in banking.”
First Interstate offers positions in 14 states for every level of skill and background. To learn more, visit First Interstate Bank’s Careers page.
About First Interstate:
First Interstate is a community bank headquartered in Billings, Montana, delivering best-in-class banking and Wealth Management services across Arizona, Colorado, Idaho, Iowa, Kansas, Montana, Nebraska, Missouri, Minnesota, North Dakota, Oregon, South Dakota, Washington and Wyoming. With more than 300 offices, First Interstate enhances the communities it serves through an innovative corporate philanthropy program, which includes donating a portion of Company profits, matching employees’ personal financial contributions and donating $10 per hour for volunteer efforts made at qualifying organizations.
