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



December 31,	2013		2012
Condensed balance sheets:
Cash and cash equivalents	$	105,274	$	95,407
Investment in subsidiaries, at equity:
Bank subsidiary	793,892		802,270
Nonbank subsidiaries	1,980		1,969
Total investment in subsidiaries	795,872		804,239
Advances from subsidiaries, net	—		697
Other assets	26,809		25,815
Total assets	$	927,955	$	926,158

Other liabilities	$	17,602	$	22,495
Advances to subsidiaries, net	6,295		—
Long-term debt	20,000		20,000
Preferred stock pending redemption	—		50,000
Subordinated debentures held by subsidiary trusts	82,477		82,477
Total liabilities	126,374		174,972
Stockholders’ equity	801,581		751,186
Total liabilities and stockholders’ equity	$	927,955	$	926,158



Years Ended December 31,	2013			2012			2011
Condensed statements of income:
Dividends from subsidiaries	$	71,400		$	40,000		$	30,000
Other interest income	34			92			118
Other income, primarily management fees from subsidiaries	12,809			10,042			10,617
Total income	84,243			50,134			40,735
Salaries and benefits	15,914			13,205			13,975
Interest expense	4,098			6,691			7,273
Other operating expenses, net	7,546			7,150			6,903
Total expenses	27,558			27,046			28,151
Earnings before income tax benefit	56,685			23,088			12,584
Income tax benefit	(5,703		)	(6,222		)	(6,518		)
Income before undistributed earnings of subsidiaries	62,388			29,310			19,102
Undistributed earnings of subsidiaries	23,748			28,914			25,444
Net income	$	86,136		$	58,224		$	44,546



Years Ended December 31,	2013			2012			2011
Condensed statements of cash flows:
Cash flows from operating activities:
Net income	$	86,136		$	58,224		$	44,546
Adjustments to reconcile net income to cash provided by operating activities:
Undistributed earnings of subsidiaries	(23,748		)	(28,914		)	(25,444		)
Stock-based compensation expense	2,936			2,485			2,111
Tax benefits from stock-based compensation	1,898			360			204
Excess tax benefits from stock-based compensation	(2,031		)	(273		)	(124		)
Other, net	(5,804		)	3,327			2,600
Net cash provided by operating activities	59,387			35,209			23,893
Cash flows from investing activities:
Capital expenditures, net of sales	—			1			(3		)
Net cash provided by (used in) investing activities	$	—		$	1		$	(3	)



Years Ended December 31,	2013			2012			2011
Condensed statements of cash flows (continued):
Cash flows from financing activities:
Net (decrease) increase in advances from nonbank subsidiaries	$	6,992		$	(2,838	)	$	(2,913	)
Redemption of preferred stock	(50,000		)	—			—
Repayment of junior subordinated debentures held by subsidiary trusts	—			(41,238		)	—
Proceeds from issuance of common stock	9,814			1,911			385
Excess tax benefits from stock-based compensation	2,031			273			124
Purchase and retirement of common stock	(448		)	(263		)	(248		)
Dividends paid to common stockholders	(17,909		)	(26,208		)	(19,233		)
Dividends paid to preferred stockholders	—			(3,300		)	(3,422		)
Net cash used in financing activities	(49,520		)	(71,663		)	(25,307		)
Net change in cash and cash equivalents	9,867			(36,453		)	(1,417		)
Cash and cash equivalents, beginning of year	95,407			131,860			133,277
Cash and cash equivalents, end of year	$	105,274		$	95,407		$	131,860