First Interstate BancSystem in Billings, Mont., will soon have a new chief executive.

The $8.4 billion-asset company said in a press release Thursday that Kevin Riley, 55, will also succeed Edward Garding, 65, as president on Sept. 23. Garding, who is retiring after 44 years at the company, will stay through January to help with the transition and to work on special projects.

Riley has been First Interstate's chief financial officer since August 2013. Before joining the company, he was chief financial officer at Berkshire Hills Bancorp in Massachusetts.

Riley "brings relevant leadership experience and a positive energy that aligns very well with the strategic direction of First Interstate," Jim Scott, the company's executive vice chairman, said in the release.

First Interstate also said that Marcy Mutch would succeed Riley as chief financial officer. Mulch is the company's senior vice president of corporate tax and its investor relations officer.

The announcement comes a month after Glacier Bancorp, Montana's other large community bank, said that Randy Chesler would become president in a move that sets up possible succession for CEO Mick Blodnick.

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