The end of an earnings season can be a great time to discover new stocks and assess how companies are handling the current business environment. Let’s take a look at how First Interstate BancSystem NASDAQ:FIBK and the rest of the regional banks stocks fared in Q3.

Regional banks, financial institutions operating within specific geographic areas, serve as intermediaries between local depositors and borrowers. They benefit from rising interest rates that improve net interest margins (the difference between loan yields and deposit costs), digital transformation reducing operational expenses, and local economic growth driving loan demand. However, these banks face headwinds from fintech competition, deposit outflows to higher-yielding alternatives, credit deterioration (increasing loan defaults) during economic slowdowns, and regulatory compliance costs. Recent concerns about regional bank stability following high-profile failures and significant commercial real estate exposure present additional challenges.

The 86 regional banks stocks we track reported a softer Q3. As a group, revenues were in line with analysts’ consensus estimates.

In light of this news, share prices of the companies have held steady as they are up 1.8% on average since the latest earnings results.

First Interstate BancSystem NASDAQ:FIBK

Tracing its roots back to 1971 and still guided by founding family principles, First Interstate BancSystem (NASDAQ:FIBK) operates a network of community banks across 10 western and midwestern states, offering comprehensive banking services to individuals, businesses, and government entities.

First Interstate BancSystem reported revenues of $250.6 million, flat year on year. This print exceeded analysts’ expectations by 0.7%. Despite the top-line beat, it was still a softer quarter for the company with a significant miss of analysts’ EPS estimates and a miss of analysts’ tangible book value per share estimates.

“We are pleased to see meaningful improvement in our net interest margin and an increase in non-interest bearing deposits, as we remain focused on strengthening the quality and earnings power of the franchise,” said James A. Reuter, President and Chief Executive Officer of the Company. “We also continued to execute on our previously announced share repurchase authorization, underscoring our commitment to shareholder returns. Through disciplined capital deployment, operating model optimization, and continued investment in relationship growth, we are building a more efficient organization and remain confident in our ability to deliver improving returns over time.”

Interestingly, the stock is up 2.2% since reporting and currently trades at $37.68.

Read our full report on First Interstate BancSystem here, it’s free.

Best Q3: Merchants Bancorp (NASDAQ:MBIN)

With a strategic focus on low-risk, government-backed lending programs, Merchants Bancorp (NASDAQCM:MBIN) is an Indiana-based bank holding company specializing in multi-family mortgage banking, mortgage warehousing, and traditional banking services.

Merchants Bancorp reported revenues of $224.9 million, up 31.5% year on year, outperforming analysts’ expectations by 22.3%. The business had a favorable quarter with a beat of analysts’ EPS estimates and a narrow beat of analysts’ tangible book value per share estimates.

Merchants Bancorp delivered the biggest analyst estimate beat of the whole group. The market seems happy with the results as the stock is up 9.1% since reporting. It currently trades at $53.61.

Is now the time to buy Merchants Bancorp? Access our full analysis of the earnings results here, it’s free.

Weakest Q3: National Bank Holdings (NYSE:NBHC)

Operating under familiar local brands like Community Banks of Colorado, Bank Midwest, and Bank of Jackson Hole, National Bank Holdings (NYSE:NBHC) operates regional banks across Colorado, Kansas, Missouri, Wyoming, Texas, and other western states, offering commercial, business, and consumer banking services.

National Bank Holdings reported revenues of $128.5 million, up 21.8% year on year, falling short of analysts’ expectations by 2.1%. It was an underwhelming quarter as it posted a significant miss of analysts’ net interest income estimates and a significant miss of analysts’ EPS estimates.

As expected, the stock is down 5% since the results and currently trades at $37.04.

Read our full analysis of National Bank Holdings’s results here.

WesBanco (NASDAQ:WSBC)

Tracing its roots back to 1870 in West Virginia, WesBanco (NASDAQ:WSBC) is a bank holding company that provides retail and commercial banking, trust services, insurance, and investment products through its subsidiaries across several Midwestern and Mid-Atlantic states.

WesBanco reported revenues of $274.2 million, up 4.8% year on year. This result was in line with analysts’ expectations. Zooming out, it was a softer quarter as it produced a miss of analysts’ tangible book value per share estimates and a slight miss of analysts’ net interest income estimates.

The stock is up 2% since reporting and currently trades at $38.40.

Read our full, actionable report on WesBanco here, it’s free.

City Holding (NASDAQ:CHCO)

With roots dating back to 1957 and a strategic presence along the I-64 and I-81 corridors, City Holding (NASDAQGS:CHCO) operates as a financial holding company providing banking, trust, and investment services through its subsidiary City National Bank across West Virginia, Kentucky, Virginia, and Ohio.

City Holding reported revenues of $84.22 million, up 3.6% year on year. This number beat analysts’ expectations by 1.6%. Taking a step back, it was a softer quarter as it logged a significant miss of analysts’ tangible book value per share estimates and a narrow beat of analysts’ EPS estimates.

The stock is flat since reporting and currently trades at $141.90.

Read our full, actionable report on City Holding here, it’s free.

Market update

Over the past year, investors have been forced to repeatedly answer the same question: What is the market’s biggest risk? The answer has changed several times, and each shift has reshaped market leadership.

Late in 2025 and early 2026, artificial intelligence became the market’s primary uncertainty. Investors questioned whether AI would erode software pricing power and weaken competitive moats as AI made it easier to replicate once-differentiated products.

By the spring, technology took a back seat to geopolitics. The U.S. conflict with Iran briefly became the market’s dominant narrative, raising concerns about oil prices, inflation, and global growth. But as energy markets remained orderly and fears of a prolonged supply disruption faded, investors quickly turned their focus back to fundamentals.

Want to invest in winners with rock-solid fundamentals? Check out our Hidden Gem Stocks and add them to your watchlist. These companies are poised for growth regardless of the political or macroeconomic climate.