First Interstate BancSystem, Inc. Financial Ratios — FIBK

Profitability (USD)

	2011 Y	2012 Y	2013 Y	2014 Y	2015 Y	2016 Y	2017 Y	2018 Y	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y	2024 Y	2025 Y
As of date	12/31/2011	12/31/2012	12/31/2013	12/31/2014	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025

Return on Common Equity (%)	7.37	7.64	11.09	9.76	9.33	9.86	8.76	10.15	9.73	8.25	9.85	7.29	7.22	6.27	8.33
Return on Assets (%)	0.6	0.77	1.13	1.04	1	1.08	1	1.26	1.3	1	1.03	0.78	0.82	0.76	1.08
Return on Capital (%)	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Return on Invested Capital (%)	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Gross Margin (%)	100	100	100	100	100	100	100	100	100	100	100	100	100	100	100
EBITDA Margin (%)	5.07	4.77	4.66	4.68	4.75	4.73	3.74	4.83	6.07	6.9	6.95	5.02	5.24	5.7	4.8
Operating Margin (%)	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Incremental Operating Margin (%)	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Pretax Margin (%)	19.3	24.61	38.06	35.97	33.81	35.26	31.88	36.11	36.87	32.02	38.8	23.25	32.83	29.46	36.99
Profit Margin (%)	13	16.23	24.71	23.43	22.49	23.22	21.66	28.04	28.39	24.66	30.08	18.29	25.1	22.61	28.53
Net Income to Common Margin (%)	12	15.31	24.71	23.43	22.49	23.22	21.66	28.04	28.39	24.66	30.08	18.29	25.1	22.61	28.53
Effective Tax Rate (%)	32.67	34.03	35.09	34.88	33.47	34.14	32.04	22.35	23.01	22.98	22.48	21.35	23.55	23.26	22.87
Dvd Payout Ratio (%)	46.77	47.72	20.79	33.92	41.81	41.17	45.63	40.01	43.76	79.78	52.89	90.06	75.77	86.68	64.32
Sustainable Growth Rate (%)	3.93	4	8.79	6.45	5.43	5.8	4.76	6.09	5.47	1.67	4.64	0.72	1.75	0.83	2.97

Credit (USD)

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	2011 Y	2012 Y	2013 Y	2014 Y	2015 Y	2016 Y	2017 Y	2018 Y	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y	2024 Y	2025 Y
As of date	12/31/2011	12/31/2012	12/31/2013	12/31/2014	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025

Total Debt	161	120	119	121	110	110	116	103	101	199	199	2,611	2,887	1,863	296
ST Debt	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	2,327	2,603	1,568	- -
LT Debt	161	120	119	121	110	110	116	103	101	199	199	284	284	295	296
Total Debt/EBITDA	9.27	6.99	7.35	7.15	6.03	5.66	6.28	3.72	2.6	4.42	4.49	47.04	53.66	32.68	5.83
Net Debt/EBITDA	-18.02	-39.89	-25.64	-40.3	-36.65	-34.43	-35.03	-26.11	-25.25	-46.08	-48.34	31.34	42.9	16.94	-19.96
Total Debt/EBIT	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Net Debt/EBIT	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
EBITDA to Interest Expense	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
EBITDA-CapEx/Interest Expense	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
EBIT to Interest Expense	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Interest Expense	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Common Equity/Total Assets	9.58	9.52	10.81	10.59	10.89	10.93	11.79	12.92	13.68	10.78	10.15	11	11.69	12.44	13.61
Long-Term Debt/Equity (%)	20.87	15.93	14.9	13.26	11.61	11.24	8.1	6.06	5.01	10.17	10.04	9.24	8.8	8.94	8.59
Long-Term Debt/Capital (%)	17.63	14	12.74	11.68	10.41	10.03	7.43	5.64	4.79	9.48	9.08	4.61	4.39	5.38	7.55
Long-Term Debt/Total Assets (%)	2.2	1.55	1.58	1.4	1.26	1.22	0.95	0.77	0.69	1.13	1.01	0.88	0.93	1.01	1.11
Total Debt/Equity (%)	20.87	15.93	14.9	13.26	11.61	11.24	8.1	6.06	5.01	10.17	10.04	84.94	89.45	56.38	8.59
Total Debt/Capital (%)	17.63	14	12.74	11.68	10.41	10.03	7.43	5.64	4.79	9.48	9.08	42.37	44.61	33.94	7.55
Total Debt/Total Assets (%)	2.2	1.55	1.58	1.4	1.26	1.22	0.95	0.77	0.69	1.13	1.01	8.09	9.41	6.39	1.11
Net Debt to Equity	-40.59	-90.88	-51.95	-74.73	-70.61	-68.34	-45.15	-42.53	-48.52	-106.05	-108.04	56.59	71.51	29.22	-29.42
Net Debt/Capital (%)	-71.01	-1,258.1	-103.37	-290.41	-239.21	-210.33	-80.94	-72.1	-95.14	1,193.8	1,453.15	32.87	39.17	21.02	-38.84
EBITDA	17	17	16	17	18	20	18	28	39	45	44	56	54	57	51
EBITDA-CapEx	8	17	16	17	18	20	-10	28	39	45	44	56	54	57	51
Operating Income (Loss)	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -

Liquidity (USD)

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	2011 Y	2012 Y	2013 Y	2014 Y	2015 Y	2016 Y	2017 Y	2018 Y	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y	2024 Y	2025 Y
As of date	12/31/2011	12/31/2012	12/31/2013	12/31/2014	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025

Cash Ratio	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Current Ratio	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Quick Ratio	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
CFO/Avg Current Liab	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Common Equity/Total Assets	9.58	9.52	10.81	10.59	10.89	10.93	11.79	12.92	13.68	10.78	10.15	11	11.69	12.44	13.61
Long-Term Debt/Equity (%)	20.87	15.93	14.9	13.26	11.61	11.24	8.1	6.06	5.01	10.17	10.04	9.24	8.8	8.94	8.59
Long-Term Debt/Capital (%)	17.63	14	12.74	11.68	10.41	10.03	7.43	5.64	4.79	9.48	9.08	4.61	4.39	5.38	7.55
Long-Term Debt/Total Assets (%)	2.2	1.55	1.58	1.4	1.26	1.22	0.95	0.77	0.69	1.13	1.01	0.88	0.93	1.01	1.11
Total Debt/Equity (%)	20.87	15.93	14.9	13.26	11.61	11.24	8.1	6.06	5.01	10.17	10.04	84.94	89.45	56.38	8.59
Total Debt/Capital (%)	17.63	14	12.74	11.68	10.41	10.03	7.43	5.64	4.79	9.48	9.08	42.37	44.61	33.94	7.55
Total Debt/Total Assets (%)	2.2	1.55	1.58	1.4	1.26	1.22	0.95	0.77	0.69	1.13	1.01	8.09	9.41	6.39	1.11
CFO/Total Liabilities	2.18	1.95	2.22	1.58	1.48	1.46	1.43	1.89	1.01	1.71	1.6	1.83	1.56	1.37	1.32
CFO/CapEx	15.6	- -	- -	- -	- -	- -	5.52	- -	- -	- -	- -	- -	- -	- -	- -
Altman's Z-Score	0.18	0.19	0.26	0.24	0.25	0.3	0.25	0.25	0.27	0.22	0.2	0.17	0.16	0.17	0.2

Working Capital (USD)

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	2011 Y	2012 Y	2013 Y	2014 Y	2015 Y	2016 Y	2017 Y	2018 Y	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y	2024 Y	2025 Y
As of date	12/31/2011	12/31/2012	12/31/2013	12/31/2014	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025

Accounts Receivable Turnover	10.45	11.79	12.6	13.47	14.09	14.31	14.49	13.78	13.92	13.37	12.97	13.35	8.29	8.13	9.65
Days Sales Outstanding	34.93	30.96	28.96	27.11	25.91	25.5	25.19	26.48	26.22	27.3	28.15	27.35	44.01	44.89	37.82
Inventory Turnover	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Days Inventory Outstanding	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Accounts Payable Turnover	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Accounts Payable Turnover Days	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Cash Conversion Cycle	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Inventory to Cash Days	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Inventories	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Raw Materials	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Work In Process	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Finished Goods	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Other Inventory	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -

Enterprise Value (USD)

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	2011 Y	2012 Y	2013 Y	2014 Y	2015 Y	2016 Y	2017 Y	2018 Y	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y	2024 Y	2025 Y
As of date	12/31/2011	12/31/2012	12/31/2013	12/31/2014	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025

Market Capitalization	557	668	1,236	1,241	1,314	1,894	2,060	2,112	2,668	2,593	2,507	3,992	3,190	3,344	3,549
- Cash & Cash Equivalents	472	801	534	798	780	782	759	822	1,077	2,277	2,345	870	578	896	1,310
+ Preferred Equity and Hybrid Capital	50	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Minority/Non Controlling Interest	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Total Debt	161	120	119	121	110	110	116	103	101	199	199	2,611	2,887	1,863	296
Enterprise Value	-1,721	-2,008	-1,126	-1,148	-813	-389	-792	-877	-1,268	-3,493	-4,458	-1,214	-342	-747	2,422
Total Capital	913	855	937	1,032	1,060	1,101	1,555	1,821	2,104	2,103	2,197	6,162	6,471	5,489	3,921
Total Debt/Capital (%)	17.63	14	12.74	11.68	10.41	10.03	7.43	5.64	4.79	9.48	9.08	42.37	44.61	33.94	7.55
Total Debt / EV	-0.09	-0.06	-0.11	-0.1	-0.14	-0.28	-0.15	-0.12	-0.08	-0.06	-0.04	-2.15	-8.44	-2.49	0.12
EV/Sales	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	4.25	2.29
EV/EBITDA	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	74.49	47.67
EV/EBIT	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
EV/Cash Flow to Firm	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	11.96	7.92
EV/Free Cash Flow to Firm	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	11.96	7.92
Diluted Market Cap	558	668	1,250	1,258	1,327	1,911	2,079	2,128	2,678	2,598	2,511	3,994	3,191	3,351	3,558
Diluted Enterprise Value	297	-13	835	580	657	1,239	1,436	1,409	1,702	521	366	5,735	5,500	4,317	2,544
EV per Share	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	41.23	23.61
TTM Sales	343	359	349	360	386	412	492	571	638	654	639	1,106	1,026	1,000	1,059
TTM EBITDA	17	17	16	17	18	20	18	28	39	45	44	56	54	57	51
TTM Operating Income	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
TTM Cash Flow to Firm	143	136	150	122	115	118	155	219	127	268	282	534	428	355	306
TTM Free Cash Flow to Firm	152	136	150	122	115	118	183	219	127	268	282	534	428	355	306

Multiples (USD)

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	2011 Y	2012 Y	2013 Y	2014 Y	2015 Y	2016 Y	2017 Y	2018 Y	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y	2024 Y	2025 Y
As of date	12/31/2011	12/31/2012	12/31/2013	12/31/2014	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025

Price/Free Cash Flow	3.67	4.92	8.32	10.31	11.5	16.19	11.38	9.72	21.04	9.68	8.89	7.47	7.46	9.44	11.64
EV/EBIT	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Enterprise Value	-1,721	-2,008	-1,126	-1,148	-813	-389	-792	-877	-1,268	-3,493	-4,458	-1,214	-342	-747	2,422
Low Price	9.46	12.94	15.15	24.18	23.88	24.92	33.33	34.61	35.92	24.5	37.23	32.4	20.81	24.16	22.95
EV/Sales	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	4.25	2.29
EV/EBITDA	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	74.49	47.67
Price/Earnings	13.55	12.16	14.35	14.71	15.13	19.79	19.34	13.19	14.74	16.09	13.05	19.74	12.39	14.8	11.75
Price/Earnings Average	13.62	11.31	10.98	14.19	14.34	14.1	18.62	15.24	14.16	13.35	13.99	20.14	11.33	13.25	10.34
Price/Earnings High	16.75	12.41	14.94	15.71	16.27	20.05	21.9	16.97	15.41	16.66	16.44	23.67	16.02	16.75	12.34
Price/Earnings Low	9.83	10.2	7.66	12.78	12.43	11.59	16.1	12.48	12.63	9.67	11.95	16.55	8.38	11.01	7.79
Price/Book Value	0.79	0.91	1.51	1.36	1.38	1.91	1.43	1.23	1.33	1.36	1.26	1.12	0.89	0.92	0.98
Price/Book Value Average	0.8	0.85	1.16	1.31	1.31	1.36	1.38	1.42	1.28	1.13	1.35	1.15	0.81	0.83	0.86
Price/Book Value High	0.98	0.93	1.57	1.45	1.49	1.94	1.62	1.58	1.39	1.41	1.58	1.35	1.15	1.04	1.03
Price/Book Value Low	0.58	0.76	0.81	1.18	1.14	1.12	1.19	1.16	1.14	0.82	1.15	0.94	0.6	0.69	0.65
Price/Tangible Book Value	1.07	1.22	2.06	1.84	1.82	2.55	2.27	1.99	2.05	2.05	1.94	2.16	1.58	1.58	1.56
Price/Tangible Book Value Average	1.08	1.13	1.58	1.77	1.73	1.82	2.18	2.3	1.97	1.7	2.08	2.21	1.45	1.42	1.38
Price/Tangible Book Value High	1.33	1.24	2.14	1.96	1.96	2.59	2.57	2.56	2.15	2.13	2.44	2.59	2.05	1.79	1.64
Price/Tangible Book Value Low	0.78	1.02	1.1	1.6	1.5	1.5	1.89	1.88	1.76	1.23	1.77	1.81	1.07	1.18	1.04
Price/Sales	1.63	1.86	3.55	3.44	3.4	4.6	4.19	3.7	4.18	3.97	3.93	3.61	3.11	3.34	3.35
Price/Sales Average	1.63	1.73	2.71	3.32	3.23	3.27	4.03	4.27	4.02	3.29	4.21	3.68	2.84	2.99	2.95
Price/Sales High	2.01	1.9	3.69	3.68	3.66	4.66	4.74	4.76	4.38	4.11	4.95	4.33	4.02	3.79	3.52
Price/Sales Low	1.18	1.56	1.89	2.99	2.8	2.69	3.49	3.5	3.59	2.38	3.59	3.03	2.1	2.49	2.22
Price/Cash Flow	3.89	4.92	8.23	10.17	11.38	16.05	13.32	9.65	20.96	9.67	8.88	7.47	7.45	9.42	11.61
Price/Cash Flow Average	3.91	4.58	6.3	9.82	10.79	11.44	12.83	11.15	20.14	8.02	9.52	7.62	6.82	8.43	10.22
Price/Cash Flow High	4.81	5.02	8.56	10.87	12.24	16.26	15.09	12.41	21.91	10.01	11.19	8.96	9.64	10.67	12.2
Price/Cash Flow Low	2.83	4.12	4.39	8.84	9.35	9.4	11.09	9.13	17.96	5.81	8.13	6.26	5.04	7.01	7.7
Price/Free Cash Flow Average	3.69	4.58	6.37	9.95	10.9	11.54	10.96	11.23	20.22	8.04	9.54	7.62	6.82	8.45	10.25
Price/Free Cash Flow High	4.53	5.02	8.66	11.01	12.36	16.4	12.89	12.51	22	10.03	11.21	8.96	9.64	10.69	12.23
Price/Free Cash Flow Low	2.66	4.12	4.44	8.96	9.45	9.48	9.47	9.2	18.03	5.82	8.14	6.27	5.05	7.02	7.72
EV/Sales Average	0.87	- -	1.52	1.44	1.49	1.65	2.73	3.01	2.49	0.11	0.85	5.26	5.09	3.96	1.99
EV/Sales High	1.25	- -	2.5	1.8	1.92	3.03	3.44	3.5	2.84	0.93	1.59	5.9	6.27	4.75	2.56
EV/Sales Low	0.42	- -	0.7	1.11	1.06	1.06	2.18	2.24	2.05	- -	0.23	4.6	4.36	3.46	1.27
EV/EBITDA Average	17.21	-3.48	32.69	30.85	31.42	34.77	72.81	62.38	41.03	1.66	12.23	104.73	97.13	69.47	41.55
EV/EBITDA High	24.61	0.05	53.66	38.47	40.54	63.95	91.8	72.44	46.86	13.48	22.83	117.59	119.59	83.38	53.44
EV/EBITDA Low	8.25	-7.06	15.1	23.8	22.36	22.45	58.2	46.4	33.86	-11.5	3.38	91.65	83.05	60.6	26.39
EV/EBIT Average	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
EV/EBIT High	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
EV/EBIT Low	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Last Price	13.03	15.43	28.37	27.82	29.07	42.55	40.05	36.56	41.92	40.77	40.67	38.65	30.75	32.47	34.6
High Price	16.11	15.75	29.53	29.72	31.25	43.1	45.35	47.05	43.83	42.21	51.24	46.34	39.76	36.77	36.35
Enterprise Value Average	299	-60	531	520	575	678	1,340	1,722	1,588	75	543	5,813	5,226	3,960	2,111
Enterprise Value High	427	1	872	648	742	1,247	1,689	1,999	1,814	608	1,014	6,526	6,434	4,753	2,715
Enterprise Value Low	143	-121	245	401	409	438	1,071	1,281	1,310	-519	150	5,087	4,468	3,454	1,340

Shares Outstanding	43	43	44	46	45	45	56	61	65	62	62	104	104	105	101
Diluted Weighted Avg Shares	43	43	44	45	46	45	52	58	64	64	62	103	104	103	103
Basic Weighted Avg Shares	43	43	44	45	45	45	51	58	64	64	62	103	104	103	103
Revenue per Share	8.02	8.28	8	8.08	8.54	9.26	9.56	9.89	10.02	10.28	10.36	10.71	9.89	9.71	10.32
EBITDA per Share	0.41	0.4	0.37	0.38	0.41	0.44	0.36	0.48	0.61	0.71	0.72	0.54	0.52	0.55	0.5
Operating Income per Share	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Basic EPS, GAAP	0.96	1.27	1.98	1.89	1.92	2.15	2.07	2.77	2.84	2.53	3.12	1.96	2.48	2.19	2.95
Basic EPS from Cont Ops	1.04	1.34	1.98	1.89	1.92	2.15	2.07	2.77	2.84	2.53	3.12	1.96	2.48	2.19	2.95
Diluted EPS, GAAP	0.96	1.27	1.96	1.87	1.9	2.13	2.05	2.75	2.83	2.53	3.11	1.96	2.48	2.19	2.94
Diluted EPS from Cont Ops	1.04	1.34	1.96	1.87	1.9	2.13	2.05	2.75	2.83	2.53	3.11	1.96	2.48	2.19	2.94
Dividend per Share	0.53	0.68	0.41	0.64	0.8	0.89	0.94	1.11	1.24	2.02	1.65	1.76	1.88	1.9	1.89
Cash Flow per Share	3.35	3.14	3.45	2.73	2.55	2.65	3.01	3.79	2	4.22	4.58	5.17	4.13	3.45	2.98
Free Cash Flow per Basic Share	3.13	3.14	3.45	2.73	2.55	2.65	2.46	3.79	2	4.22	4.58	5.17	4.13	3.45	2.98
Cash & Equivalents per Share	58.22	64.58	56.97	56.26	49.5	53.77	57.7	53.52	63.43	98.81	116.22	75.69	61.87	57.81	13.87
Book Value per Share	16.42	16.98	18.77	20.43	21.03	22.26	27.99	29.74	31.47	29.92	32.4	34.38	34.54	35.21	35.34
Tangible Book Value per Share	12.13	12.68	13.77	15.15	15.93	16.66	17.67	18.39	20.43	19.85	21.01	17.86	19.44	20.5	22.13

First Interstate BancSystem, Inc.

Profitability (USD)

Credit (USD)

Liquidity (USD)

Working Capital (USD)

Enterprise Value (USD)

Multiples (USD)

Per Share Data Items (USD)