Condensed Financial Information (Parent Company Only)

12 Months Ended

Dec. 31, 2016

Condensed Financial Information of Parent Company Only Disclosure [Abstract]

Condensed Financial Information (Parent Company Only)

CONDENSED FINANCIAL INFORMATION (PARENT COMPANY ONLY)

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

December 31,	2016		2015
Condensed balance sheets:
Cash and cash equivalents	$	138,385	$	55,162
Investment in subsidiaries, at equity:
Bank subsidiary	932,034		975,236
Nonbank subsidiaries	—		1,985
Total investment in subsidiaries	932,034		977,221
Advances to subsidiaries, net	—		6,257
Other assets	35,349		39,668
Total assets	$	1,105,768	$	1,078,308
Other liabilities	$	18,004	$	25,338
Advances from subsidiaries, net	2,694		—
Long-term debt	20,000		20,000
Subordinated debentures held by subsidiary trusts	82,477		82,477
Total liabilities	123,175		127,815
Stockholders’ equity	982,593		950,493
Total liabilities and stockholders’ equity	$	1,105,768	$	1,078,308

Years Ended December 31,	2016			2015			2014
Condensed statements of income:
Dividends from subsidiaries	$	140,000		$	70,000		$	58,900
Other interest income	31			23			42
Other income, primarily management fees from subsidiaries	15,111			13,207			12,166
Total income	155,142			83,230			71,108
Salaries and benefits	18,757			16,267			15,722
Interest expense	4,173			3,844			4,002
Acquisition expenses	1,504			795			4,017
Other operating expenses, net	10,391			9,920			7,512
Total expenses	34,825			30,826			31,253
Earnings before income tax benefit	120,317			52,404			39,855
Income tax benefit	(7,670		)	(6,952		)	(6,862		)
Income before undistributed earnings of subsidiaries	127,987			59,356			46,717
Undistributed earnings of subsidiaries	(32,351		)	27,439			37,684
Net income	$	95,636		$	86,795		$	84,401

Years Ended December 31,	2016			2015			2014
Condensed statements of cash flows:
Cash flows from operating activities:
Net income	$	95,636		$	86,795		$	84,401
Adjustments to reconcile net income to cash provided by operating activities:
Undistributed earnings of subsidiaries	32,351			(27,439		)	(37,684		)
Stock-based compensation expense	4,376			3,959			3,634
Tax benefits from stock-based compensation	2,146			1,443			2,193
Excess tax benefits from stock-based compensation	(1,566		)	(1,184		)	(2,205		)
Other, net	(801		)	(11,333		)	8,991
Net cash provided by operating activities	132,142			52,241			59,330
Cash flows from investing activities:
Capital distributions from nonbank subsidiaries	1,986			—			—
Capital expenditures, net of sales	1			—			—
Acquisition of bank holding company, net of cash and cash equivalents received	—			(7,207		)	(37,891		)
Net cash used in investing activities	$	1,987		$	(7,207	)	$	(37,891	)

Cash flows from financing activities:
Net (decrease) increase in advances from nonbank subsidiaries	$	9,052		$	(2,021	)	$	(10,632	)
Redemption of preferred stock	—			—			—
Repayment of long-term debt	—			(950		)	—
Repayment of junior subordinated debentures held by subsidiary trusts	—			—			(20,439		)
Proceeds from issuance of common stock, net of stock issuance costs	4,683			3,369			6,001
Excess tax benefits from stock-based compensation	1,566			1,184			2,205
Purchase and retirement of common stock	(26,854		)	(20,647		)	(9,739		)
Dividends paid to common stockholders	(39,353		)	(36,290		)	(28,626		)
Net cash used in financing activities	(50,906		)	(55,355		)	(61,230		)
Net change in cash and cash equivalents	83,223			(10,321		)	(39,791		)
Cash and cash equivalents, beginning of year	55,162			65,483			105,274
Cash and cash equivalents, end of year	$	138,385		$	55,162		$	65,483

There were no noncash investing or financing activities during 2016, 2015 or 2014.