First Interstate BancSystem in Billings, Mont., is set to have a new chairman with a familiar last name.

The $8.6 billion-asset company said in a press release Wednesday that James Scott will become chairman on Jan. 21. Scott, 65, will succeed his brother, Thomas Scott, 71, who is retiring from the board.

The elder Scott has been the company's chairman since 2004. He was First Interstate's chief executive for 25 years.

The younger Scott has been vice chairman since 1990. He had been the chairman of First Interstate's bank since 2007, when he succeeded his brother in that role.

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