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First Interstate BancSystem, Inc. Reports Preliminary Results For Fourth Quarter 2011

Following is a summary of the Company's criticized loans since the start of 2009.

CRITICIZED LOANS

(Unaudited; $ in thousands)

     

Other AssetsEspeciallyMentioned

      Substandard       Doubtful       Total
Q1 2009 $ 163,402 $ 231,861 $ 40,356 $ 435,619
Q2 2009 230,833 242,751 48,326 521,910
Q3 2009 239,320 271,487 60,725 571,532

Q4 2009

279,294 271,324 69,603 620,221
Q1 2010 312,441 311,866 64,113 688,420
Q2 2010 319,130 337,758 92,249 749,137
Q3 2010 340,075 340,973 116,003 797,051
Q4 2010 305,925 303,653 133,353 742,931
Q1 2011 293,899 299,072 135,862 728,833
Q2 2011 268,450 309,029 149,964 727,443
Q3 2011 261,501 305,145 134,367 701,013
Q4 2011 240,903 269,794 120,165 630,862
 

ASSETS

(Unaudited; $ in thousands)

     

December 31,2011

     

September 30,2011

     

December 31,2010

     

SequentialQuarter% Change

     

Year OverYear% Change

Cash and cash equivalents $ 472,447 $ 504,227 $ 685,618 -6.3 % -31.1 %
Investment securities 2,169,645 2,045,796 1,933,403 6.1 % 12.2 %
Loans 4,186,549 4,275,717 4,367,909 -2.1 % -4.2 %
Less allowance for loan losses 112,581   120,303   120,480   -6.4 % -6.6 %
Net loans 4,073,968 4,155,414 4,247,429 -2.0 % -4.1 %
Other assets 609,467   601,717   634,520   1.3 % -3.9 %
Total assets $ 7,325,527   $ 7,307,154   $ 7,500,970   0.3 % -2.3 %
 

LOANS

(Unaudited; $ in thousands)

     

December 31,2011

     

September 30,2011

     

December 31,2010

     

SequentialQuarter% Change

     

Year OverYear% Change

Real estate loans:
Commercial $ 1,553,155 $ 1,561,788 $ 1,565,665 -0.6 % -0.8 %
Construction:
Land acquisition & development 278,613 296,407 329,720 -6.0 % -15.5 %
Residential 61,106 67,261 99,196 -9.2 % -38.4 %
Commercial 61,054   64,098   98,542   -4.7 % -38.0 %
Total construction loans 400,773   427,766   527,458   -6.3 % -24.0 %
Residential 571,943 586,425 549,604 -2.5 % 4.1 %
Agricultural 175,302   177,121   182,794   -1.0 % -4.1 %
Total real estate loans 2,701,173   2,753,100   2,825,521   -1.9 % -4.4 %
Consumer:
Indirect consumer loans 407,651 415,245 423,552 -1.8 % -3.8 %
Other consumer loans 147,487 151,611 162,137 -2.7 % -9.0 %
Credit card loans 60,933   60,283   60,891   1.1 % 0.1 %
Total consumer loans 616,071   627,139   646,580   -1.8 % -4.7 %
Commercial 693,261 703,010 730,471 -1.4 % -5.1 %
Agricultural 119,710 136,728 116,546 -12.4 % 2.7 %
Other loans, including overdrafts 2,813   3,252   2,383   -13.5 % 18.0 %
Loans held for investment 4,133,028   4,223,229   4,321,501   -2.1 % -4.4 %
Mortgage loans held for sale 53,521   52,488   46,408   2.0 % 15.3 %
Total loans $ 4,186,549   $ 4,275,717   $ 4,367,909   -2.1 % -4.2 %
 

Total loans decreased as of December 31, 2011, as compared to September 30, 2011 and December 31, 2010. Management attributes declines in total loans to weak loan demand in the Company's market areas, the result of continuing economic uncertainty, and to movement of lower quality loans out of the loan portfolio through charge-off, pay-off or foreclosure.

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