FIRST INTERSTATE BANCSYSTEM INC — Director's Dealing 2010

Dec 1, 2010

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: FIRST INTERSTATE BANCSYSTEM INC (FIBK)
CIK: 0000860413
Period of Report: 2010-11-29

Reporting Person: SCOTT JAMES R (Director, 10% Owner)

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2010-11-29	Class B Common Stock	$0.00	G	1900	Disposed	2029-12-31	Class A Common Stock (1900)	Indirect
2010-11-29	Class B Common Stock	$0.00	G	11216	Disposed	2029-12-31	Class A Common Stock (11216)	Indirect

Holdings (Non-Derivative)

Security	Shares	Ownership
Class A Common Stock	17764	Indirect

Holdings (Derivative)

Security	Exercise Price	Expiration	Underlying	Shares	Ownership
Class B Common Stock	$0.00	2029-12-31	Class A Common Stock (2211036)	2211036	Indirect

Footnotes

F1: On March 5, 2010, the Company recapitalized its existing common stock. The recapitalization included, among other things, a redesignation of existing common stock as Class B common stock, a four-for-one split of Class B common stock, and the creation of a new class of common stock designated as Class A common stock, which is listed on the NASDAQ stock market under the symbol "FIBK". The Class B Common Stock is convertible at any time into Class A Common stock on a share for share basis at the descretion of the holder. The conversion feature of the Class B common stock does not expire.

F2: Disclaims beneficial ownership except to the extend of Mr. Scott's pecuniary interest in the partnership.