Following is condensed financial information of First Interstate BancSystem, Inc.



December 31,	2012		2011
Condensed balance sheets:
Cash and cash equivalents	$	95,407	$	131,860
Investment in subsidiaries, at equity:
Bank subsidiary	802,270		776,349
Nonbank subsidiaries	1,969		1,973
Total investment in subsidiaries	804,239		778,322
Advances from subsidiaries, net	697		—
Other assets	25,815		26,246
Total assets	$	926,158	$	936,428

Other liabilities	$	22,495	$	19,552
Advances to subsidiaries, net	—		2,141
Long-term debt	20,000		20,000
Preferred stock pending redemption	50,000		—
Subordinated debentures held by subsidiary trusts	82,477		123,715
Total liabilities	174,972		165,408
Stockholders’ equity	751,186		771,020
Total liabilities and stockholders’ equity	$	926,158	$	936,428



Years Ended December 31,	2012			2011			2010
Condensed statements of income:
Dividends from subsidiaries	$	40,000		$	30,000		$	15,400
Other interest income	92			118			105
Other income, primarily management fees from subsidiaries	10,042			10,617			11,336
Total income	50,134			40,735			26,841
Salaries and benefits	13,205			13,975			13,435
Interest expense	6,691			7,273			7,703
Other operating expenses, net	7,150			6,903			6,827
Total expenses	27,046			28,151			27,965
Earnings before income tax benefit	23,088			12,584			(1,124		)
Income tax benefit	(6,222		)	(6,518		)	(6,254		)
Income before undistributed earnings of subsidiaries	29,310			19,102			5,130
Undistributed earnings of subsidiaries	28,914			25,444			32,226
Net income	$	58,224		$	44,546		$	37,356



Years Ended December 31,	2012			2011			2010
Condensed statements of cash flows:
Cash flows from operating activities:
Net income	$	58,224		$	44,546		$	37,356
Adjustments to reconcile net income to cash provided by operating activities:
Undistributed earnings of subsidiaries	(28,914		)	(25,444		)	(32,226		)
Stock-based compensation expense	2,485			2,111			1,764
Tax benefits from stock-based compensation	360			204			239
Excess tax benefits from stock-based compensation	(273		)	(124		)	(225		)
Other, net	3,327			2,600			(4,325		)
Net cash provided by operating activities	35,209			23,893			2,583
Cash flows from investing activities:
Capitalization of subsidiaries	—			—			(130		)
Capital expenditures, net of sales	1			(3		)	—
Net cash provided by (used in) investing activities	1			(3		)	(130		)
Cash flows from financing activities:
Net (decrease) increase in advances from nonbank subsidiaries	(2,838		)	(2,913		)	5,002
Repayments of long-term debt	—			—			(33,929		)
Repayment of junior subordinated debentures held by subsidiary trusts	(41,238		)	—			—
Proceeds from issuance of common stock	1,911			385			167,400
Common stock issuance costs	—			—			(13,597		)
Excess tax benefits from stock-based compensation	273			124			225
Purchase and retirement of common stock	(263		)	(248		)	(3,699		)
Dividends paid to common stockholders	(26,208		)	(19,233		)	(17,905		)
Dividends paid to preferred stockholders	(3,300		)	(3,422		)	(3,422		)
Net cash provided by (used in) financing activities	(71,663		)	(25,307		)	100,075
Net change in cash and cash equivalents	(36,453		)	(1,417		)	102,528
Cash and cash equivalents, beginning of year	131,860			133,277			30,749
Cash and cash equivalents, end of year	$	95,407		$	131,860		$	133,277