Net charged-off loans increased during fourth quarter 2011, as compared to third quarter 2011 and fourth quarter 2010. Approximately 34% of the net charged-off loans during fourth quarter 2011 were located in the Flathead, Gallatin Valley and Jackson market areas. Additionally, approximately 58% of the loans charged-off during fourth quarter 2011 were related to five borrowers, including three construction, one commercial and one residential real estate borrowers.As of December 31, 2011, total non-performing loans included $216 million of real estate loans, of which $102 million were construction loans and $87 million were commercial real estate loans. Non-performing construction loans as of December 31, 2011 were comprised of land acquisition and development loans of $63 million, commercial construction loans of $25 million and residential construction loans of $14 million.
First Interstate BancSystem, Inc. Reports Preliminary Results For Fourth Quarter 2011
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