FIRST INTERSTATE BANCSYSTEM INC — Director's Dealing 2014

May 23, 2014

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: FIRST INTERSTATE BANCSYSTEM INC (FIBK)
CIK: 0000860413
Period of Report: 2014-05-21

Reporting Person: SULLIVAN MICHAEL J/CO (Director)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2014-05-21	Class A Common Stock	A	861	$25.24	Acquired	2829	Indirect
2014-05-22	Class A Common Stock	M	2400	$13.12	Acquired	2400	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2014-05-22	Stock Options	$13.12	M	2400	Disposed	2014-05-27	Class B Common Stock (2400)	Direct

Footnotes

F1: Includes 1,968 shares of Class A common stock previously held directly, which were transferred into a living trust and are now held indirectly by trust.

F2: Simultaneous with the exercise of stock options, an election was made to immediately convert Class B commons shares received to Class A common shares.