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First Interstate BancSystem, Inc. Reports Strong Third Quarter Earnings On Improved Credit Quality

Consumer loans grew to $672 million as of September 30, 2013, from $653 million as of June 30, 2013 and $630 million as of September 30, 2012. Growth in consumer loans occurred primarily in indirect loans, which increased to $477 million as of September 30, 2013, from $457 million as of June 30, 2013 and $431 million as of September 30, 2012, due to expansion of the Company's indirect lending program within existing markets.

Commercial real estate loans decreased to $1,441 million as of September 30, 2013, from $1,447 million as of June 30, 2013 and $1,514 million as of September 30, 2012, primarily due to weak loan demand combined with the movement of lower quality loans out of the portfolio through charge-off, pay-off and foreclosure.

Total deposits increased to $6,109 million as of September 30, 2013, from $5,930 million as of June 30, 2013 and $6,036 million as of September 30, 2012, with a continued shift in the mix of deposits away from higher costing time deposits to lower costing demand and savings deposits. As of September 30, 2013, time deposits comprised 20.3% of total deposits, as compared to 21.1% as of June 30, 2013 and 23.6% as of September 30, 2012.

OREO decreased to $19 million as of September 30, 2013, from $23 million as of June 30, 2013, primarily due to sales of OREO properties. During third quarter 2013, the Company recorded OREO additions of $2 million and sold OREO properties with carrying values of $6 million at a $525 thousand net gain. OREO sales were composed primarily of commercial and land and land development properties. As of September 30, 2013, the composition of OREO properties was as follows: 19% residential real estate; 59% land and land development and 22% commercial.

ASSET QUALITY

Non-performing loans decreased to $96 million as of September 30, 2013, from $105 million as of June 30, 2013, primarily due to the movement of non-accrual loans out of the loan portfolio through pay-off, charge-off and upgrade. Non-performing loans decreased to $96 million as of September 30, 2013, from $127 million as of September 30, 2012, primarily due to the movement of non-accrual loans out of the loan portfolio through charge-off or foreclosure.

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