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                               [KPMG LETTERHEAD]


                                                                    EXHIBIT 23.1



                          Independent Auditors' Consent




The Board of Directors
First Interstate BancSystem, Inc.:

We consent to incorporation by reference in the registration statements (No.
333-53011 and No. 333-76825) on Form S-8 of First Interstate BancSystem, Inc. of
our report dated February 4, 2000, relating to the consolidated balance sheets
of First Interstate BancSystem, Inc. and subsidiaries as of December 31, 1999
and 1998, and the related consolidated statements of income, stockholders'
equity and comprehensive income, and cash flows for each of the years in the
three-year period ended December 31, 1999, which report appears in the December
31, 1999 annual report on Form 10-K of First Interstate BancSystem, Inc. Our
report, dated February 4, 2000, except for note 24 which is as of January 26,
2001, contains an explanatory paragraph indicating that First Interstate
BancSystem, Inc. has restated its 1999, 1998 and 1997 consolidated financial
statements to account for its stock option plan as a variable plan under APB
Opinion 25, "Accounting for Stock Issued to Employees".


/s/ KPMG LLP


Billings, Montana
May 4, 2001