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

LIABILITIES

(Unaudited; $ in thousands)

     

December 31,2011

     

September 30,2011

     

December 31,2010

     

SequentialQuarter% Change

     

Year OverYear% Change

Deposits $ 5,826,971 $ 5,851,319 $ 5,925,713 -0.4 % -1.7 %
Securities sold under repurchase agreements 516,243 475,522 620,154 8.6 % -16.8 %
Accounts payable and accrued expenses 42,248 37,266 38,915 13.4 % 8.6 %
Accrued interest payable 8,123 8,786 13,178 -7.5 % -38.4 %
Long-term debt 37,200 37,469 37,502 -0.7 % -0.8 %
Other borrowed funds 7 5,122 4,991 -99.9 % -99.9 %
Subordinated debentures held by subsidiary trusts 123,715   123,715   123,715   0.0 % 0.0 %
Total liabilities $ 6,554,507   $ 6,539,199   $ 6,764,168   0.2 % -3.1 %
 

DEPOSITS

(Unaudited; $ in thousands)

     

December 31,2011

     

September 30,2011

     

December 31,2010

     

SequentialQuarter% Change

     

Year OverYear% Change

Non-interest bearing demand $ 1,271,709 $ 1,243,703 $ 1,063,869 2.3 % 19.5 %
Interest bearing:
Demand 1,306,509 1,308,122 1,218,078 -0.1 % 7.3 %
Savings 1,691,413 1,662,602 1,718,521 1.7 % -1.6 %
Time, $100 and over 681,047 704,518 908,044 -3.3 % -25.0 %
Time, other 876,293   932,374   1,017,201   -6.0 % -13.9 %
Total interest bearing 4,555,262   4,607,616   4,861,844   -1.1 % -6.3 %
Total deposits $ 5,826,971   $ 5,851,319   $ 5,925,713   -0.4 % -1.7 %

Deposits decreased slightly as of December 31, 2011, as compared to September 30, 2011 and December 31, 2010. During fourth quarter 2011, the Company continued to experience a shift in the mix of deposits away from higher-costing time deposits to lower-costing demand deposits.

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