First Interstate president, CEO to retire

Billings, Mont.-based First Interstate BancSystem has started the search for a new president and CEO after Kevin Riley announced his upcoming retirement. .Riley, who has spent 38 years in banking, joined the bank as CFO in 2013 and was named president and CEO two years later. Under Riley's leadership, First Interstate has grown to a $30 billion regional community bank with branches in 14 states from a $7 billion community bank in three states. .First Interstate has retained a leading global executive recruiting firm in the search. ."We have a strong balance sheet underpinned by a diverse loan portfolio, strong capital position and deep liquidity profile, which makes this the right moment to embark on a new chapter," said First Interstate Chair Stephen Bowman. "The board's priority is to identify a leader who continues to embody our culture of integrity, understands the communities we serve, and has the ability to continue to grow the organization, deliver value to our shareholders, and execute our long-term vision for the company."