<PAGE> 1
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
Form 13F
Form 13F COVER PAGE
Report for the Calendar Year or Quarter Ended: June 30, 2000
Check here if Amendment [ ]; Amendment Number:
--------
This Amendment (Check only one.): [ ] is a restatement.
[ ] adds new holdings entries.
Institutional Investment Manager Filing this Report:
Name: First Interstate Bank
Address: 401 North 31st Street
Billings, MT 59116
Form 13F File Number: 28-
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The institutional investment manager filing this report and the person by whom
it is signed hereby represent that the person signing the report is authorized
to submit it, that all information contained herein is true, correct and
complete, and that it is understood that all required items, statements,
schedules, lists, and tables, are considered integral parts of this form.
Person Signing this Report on Behalf of Reporting Manager:
Name: Richard C. Fellows
Title: Senior Vice President
Phone: 406-255-5262
Signature, Place, and Date of Signing:
/s/ Richard C. Fellows Billings, MT November 10, 2000
---------------------- ------------------------------ -----------------
[Signature] [City, State] [Date]
Report Type (Check only one.):
[ X ] 13F HOLDINGS REPORT. (Check here if all holdings of this reporting
manager are reported in this report.)
[ ] 13F NOTICE. (Check here if no holdings reported are in this report,
and all holdings are reported by other reporting manager(s).)
[ ] 13F COMBINATION REPORT. (Check here if a portion of the holdings for
this reporting manager are reported in this report and a portion are
reported by other reporting manager(s).)
List of Other Managers Reporting for this Manager:
[If there are no entries in this list, omit this section.]
Form 13F File Number Name
28-
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[Repeat as necessary.]
<PAGE> 2
FORM 13F
SUMMARY PAGE
Report Summary:
Number of Other Included Managers:
-----------------------
Form 13F Information Table Entry Total: 268
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Form 13F Information Table Value Total: $440,489,024
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(thousands)
List of Other Included Managers: NONE
Provide a numbered list of the name(s) and Form 13F file number(s) of all
institutional investment managers with respect to which this report is filed,
other than the manager filing this report.
[If there are no entries in this list, state "NONE" and omit the column
headings and list entries.]
No. Form 13F File Number Name
----- ------------------- ------------------------
[Repeat as necessary.]
<PAGE> 3
13 F REPORT OF MANAGED ASSETS
<TABLE>
<CAPTION>
Date Run : 10/26/2000 Processing Date : 10/26/2000 Time Printed : 10:48:54 AM
As Of Date : 06/30/2000
INVESTMENT DIRECTION
NAME OF ISSUER TYPE CUSIP MARKET SHARES/PV SOLE SHARED OTHER
<S> <C> <C> <C> <C> <C> <C> <C>
AES Corp Com Equity 00130H105 1,097,281 24,050 0 0 24,050
AT&T Corporation Equity 001957109 2,567,001 81,170 44,343 10,206 26,621
Abbott Laboratories Equity 002824100 1,379,521 30,957 15,994 10,563 4,400
Agilent Technologies Inc Equity 00846U101 504,598 6,842 5,182 959 701
Air Products & Chemicals Equity 009158106 224,931 7,300 7,000 0 300
Albertson's Inc Equity 013104104 1,851,294 55,678 30,525 6,500 18,653
Alcoa Inc Equity 013817101 617,700 21,300 4,600 1,600 15,100
Allegheny Energy Inc Equity 017361106 1,242,825 45,400 38,950 6,450 0
Allergan Inc Equity 018490102 305,450 4,100 0 0 4,100
Allstate Corporation Equity 020002101 257,344 11,566 4,650 3,428 3,488
Alltel Corporation Equity 020039103 1,239,741 20,016 7,291 1,082 11,643
Amerada Hess Corporation Equity 023551104 297,944 4,825 0 0 4,825
America Online Equity 02364J104 291,467 5,532 0 0 5,532
American Express Company Equity 025816109 1,382,616 26,525 9,500 900 16,125
American Home Products Corporation Equity 026609107 3,206,458 54,578 18,487 300 35,791
American International Group Inc Equity 026874107 3,145,358 26,769 11,802 882 14,085
Amgen Inc Equity 031162100 767,481 10,925 1,805 0 9,120
Analog Devices Inc Equity 032654105 393,300 5,175 0 0 5,175
Anheuser-Busch Companies Inc Equity 035229103 1,224,875 16,400 3,200 300 12,900
Apache Corporation Equity 037411105 4,893,200 83,200 36,000 0 47,200
Applied Materials Inc Equity 038222105 643,438 7,100 0 0 7,100
Automatic Data Processing Inc Equity 053015103 1,799,914 33,604 9,444 0 24,160
Autozone Inc Equity 053332102 278,850 12,675 0 0 12,675
Avalonbay Communities Inc Equity 053484101 352,913 8,453 0 0 8,453
BP Amoco PLC Sponsored ADR Equity 055622104 4,904,195 86,704 33,383 8,887 44,434
Bank America Corporation Equity 060505104 1,045,846 24,322 7,288 960 16,074
Bank Of New York Company Inc Equity 064057102 1,404,626 30,207 0 0 30,207
Bank One Corporation Equity 06423A103 588,838 22,168 18,812 2,856 500
Baxter International Inc Equity 071813109 1,552,500 22,080 2,555 0 19,525
Bell Atlantic Corporation Equity 077853109 2,108,414 41,494 19,919 3,214 18,361
Bellsouth Corporation Equity 079860102 1,614,379 37,874 26,998 2,464 8,412
<CAPTION>
VOTING AUTHORITY
SOLE SHARED OTHER
<S> <C> <C> <C>
AES Corp Com 0 0 24,050
AT&T Corporation 56,073 126 24,971
Abbott Laboratories 26,557 0 4,400
Agilent Technologies Inc 6,027 0 815
Air Products & Chemicals 7,300 0 0
Albertson's Inc 36,625 0 19,053
Alcoa Inc 7,000 0 14,300
Allegheny Energy Inc 44,600 0 800
Allergan Inc 0 0 4,100
Allstate Corporation 8,678 0 2,888
Alltel Corporation 8,373 0 11,643
Amerada Hess Corporation 0 0 4,825
America Online 400 0 5,132
American Express Company 10,400 0 16,125
American Home Products Corporation 18,787 0 35,791
American International Group Inc 12,309 0 14,460
Amgen Inc 1,805 0 9,120
Analog Devices Inc 0 0 5,175
Anheuser-Busch Companies Inc 3,850 0 12,550
Apache Corporation 36,000 0 47,200
Applied Materials Inc 0 0 7,100
Automatic Data Processing Inc 9,444 0 24,160
Autozone Inc 0 0 12,675
Avalonbay Communities Inc 0 0 8,453
BP Amoco PLC Sponsored ADR 38,998 3,800 43,906
Bank America Corporation 8,248 0 16,074
Bank Of New York Company Inc 0 0 30,207
Bank One Corporation 21,268 0 900
Baxter International Inc 2,555 0 19,525
Bell Atlantic Corporation 23,133 0 18,361
Bellsouth Corporation 29,318 144 8,412
</TABLE>
Page 1 of 9
<PAGE> 4
<TABLE>
<CAPTION>
13 F REPORT OF MANAGED ASSETS
Date Run : 10/26/2000 Processing Date : 10/26/2000 Time Printed : 10:48:55 AM
As Of Date : 06/30/2000
INVESTMENT DIRECTION
NAME OF ISSUER TYPE CUSIP MARKET SHARES/PV SOLE SHARED OTHER
Bemis Company Inc Equity 081437105 312,713 9,300 0 0 9,300
Bestfoods Inc Equity 08658U101 1,323,783 19,116 8,210 3,028 7,878
Big Sky Transportation Company Equity 089539209 35,718 40,820 0 0 40,820
Biomet Inc Equity 090613100 347,859 9,050 0 0 9,050
Black Hills Corporation Equity 092113109 292,184 12,950 12,350 600 0
Blockbuster Inc Cl A Equity 093679108 271,250 28,000 0 0 28,000
Boeing Company Equity 097023105 583,075 13,945 400 0 13,545
Bradley Real Estate Inc Equity 104580105 285,588 13,400 0 0 13,400
Brinker International Inc Equity 109641100 664,706 22,725 0 0 22,725
Bristol Myers Squibb Company Equity 110122108 2,878,482 49,416 20,250 2,950 26,216
Burlington Resources Inc Equity 122014103 362,381 9,474 1,246 0 8,228
Cigna Corporation Equity 125509109 369,325 3,950 0 0 3,950
Cit Group Inc Cl A Equity 125577106 336,375 20,700 0 0 20,700
Cardinal Health Inc Equity 14149Y108 499,426 6,749 0 0 6,749
Carnival Corporation Equity 143658102 198,900 10,200 5,000 1,600 3,600
Caterpillar Inc Equity 149123101 395,660 11,680 7,100 0 4,580
Centurytel Inc Equity 156700106 394,220 13,712 0 0 13,712
Chase Manhattan Corporation New Equity 16161A108 1,521,076 33,022 13,800 2,700 16,522
Chevron Corporation Equity 166751107 2,168,316 25,566 11,337 200 14,029
Chromatochem Inc Series B - Market
Price N/A Preferred Stock 171990104 15 15,000 0 0 15,000
Cisco Systems Inc Equity 17275R102 6,422,991 101,050 23,180 9,200 68,670
Citigroup Inc Equity 172967101 3,801,414 63,094 32,285 6,187 24,622
Coca Cola Company Equity 191216100 1,339,730 23,325 8,410 445 14,470
Cognex Corporation Equity 192422103 253,575 4,900 0 0 4,900
Colgate Palmolive Company Equity 194162103 922,554 15,408 2,600 208 12,600
Comerica Inc Equity 200340107 296,175 6,600 0 0 6,600
Compaq Computer Corporation Equity 204493100 217,128 8,494 400 0 8,094
Computer Associates International Inc Equity 204912109 391,328 7,645 0 0 7,645
Computer Sciences Corp Common Equity 205363104 491,070 6,575 100 400 6,075
Comverse Technology Inc Equity 205862402 341,775 3,675 0 0 3,675
Conagra Inc Equity 205887102 863,055 45,275 22,900 4,175 18,200
<CAPTION>
VOTING AUTHORITY
SOLE SHARED OTHER
<S> <C> <C> <C>
Bemis Company Inc 0 0 9,300
Bestfoods Inc 10,110 1,128 7,878
Big Sky Transportation Company 0 0 40,820
Biomet Inc 0 0 9,050
Black Hills Corporation 12,950 0 0
Blockbuster Inc Cl A 0 0 28,000
Boeing Company 700 0 13,245
Bradley Real Estate Inc 0 0 13,400
Brinker International Inc 0 0 22,725
Bristol Myers Squibb Company 23,600 0 25,816
Burlington Resources Inc 3,024 0 6,450
Cigna Corporation 0 0 3,950
Cit Group Inc Cl A 0 0 20,700
Cardinal Health Inc 0 0 6,749
Carnival Corporation 6,600 0 3,600
Caterpillar Inc 7,400 0 4,280
Centurytel Inc 0 0 13,712
Chase Manhattan Corporation New 16,392 0 16,630
Chevron Corporation 11,537 0 14,029
Chromatochem Inc Series B - Market Price N/A 0 0 15,000
Cisco Systems Inc 32,980 0 68,070
Citigroup Inc 38,272 200 24,622
Coca Cola Company 8,855 0 14,470
Cognex Corporation 0 0 4,900
Colgate Palmolive Company 2,808 0 12,600
Comerica Inc 0 0 6,600
Compaq Computer Corporation 400 0 8,094
Computer Associates International Inc 0 0 7,645
Computer Sciences Corp Common 500 0 6,075
Comverse Technology Inc 0 0 3,675
Conagra Inc 27,075 0 18,200
</TABLE>
Page 2 of 9
<PAGE> 5
<TABLE>
<CAPTION>
13 F REPORT OF MANAGED ASSETS
Date Run : 10/26/2000 Processing Date : 10/26/2000 Time Printed : 10:48:55 AM
As Of Date : 06/30/2000
INVESTMENT DIRECTION
NAME OF ISSUER TYPE CUSIP MARKET SHARES/PV SOLE SHARED OTHER
<S> <C> <C> <C> <C> <C> <C> <C>
Conoco Inc Cl B Equity 208251405 387,400 15,772 1,775 400 13,597
Constellation Energy Group Inc Equity 210371100 308,204 9,465 0 1,120 8,345
Copper Mountain Networks Inc Equity 217510106 224,719 2,550 0 0 2,550
Corning Inc Equity 219350105 473,091 1,753 653 0 1,100
Costco Wholesale Corporation New Equity 22160K105 667,425 20,225 5,100 0 15,125
Coventry Health Care Inc Equity 222862104 133,281 10,000 0 0 10,000
The Cadiz Corporation Equity 2352391 0 34,550 0 34,550 0
The Cadiz Corporation Equity 2352392 0 34,550 0 34,550 0
Elf Technologies Corp. Certificate #251 Equity 2353592 52,150 35,000 0 35,000 0
Powder Horn Ranch Llc Equity 2353637 460,110 98 0 98 0
Winter Sports Inc Equity 2353748 0 36,278 0 0 36,278
Powderhorn Ranch 2 Llc 20% Ownership Interest Equity 2353792 1,000,000 4 3 1 0
Powderhorn Ranch 2, Llc Equity 2353806 250,000 1 0 1 0
Danaher Corporation Equity 235851102 367,073 7,425 3,000 0 4,425
Sundance Bankshares, Inc Equity 2362059 1,123,008 9,600 9,600 0 0
Sundance Bankshares, Inc Equity 2362060 736,974 6,300 0 6,300 0
Deere & Company Equity 244199105 561,105 15,165 4,800 2,200 8,165
Dell Computer Corporation Equity 247025109 604,078 12,250 0 320 11,930
Dial Corporation Equity 25247D101 150,023 14,460 0 0 14,460
Disney Walt Co Hldg Equity 254687106 769,419 19,824 6,400 1,650 11,774
Dominion Res Inc Va Equity 25746U109 299,268 6,980 6,190 490 300
Dover Corporation Equity 260003108 271,769 6,700 0 0 6,700
Du Pont E I De Nemours & Company Equity 263534109 2,631,913 60,158 47,599 7,450 5,109
Duke Energy Corporation Equity 264399106 2,076,742 36,838 22,963 3,150 10,725
EMC Corporation Equity 268648102 3,305,081 42,958 1,608 0 41,350
EMC Energies Inc Equity 268652203 1,313 14,000 14,000 0 0
Eog Resources Inc Equity 26875P101 589,600 17,600 0 0 17,600
Epi Environmental Inc Equity 26899P103 84,000 14,000 0 0 14,000
Eaton Corporation Equity 278058102 221,569 3,307 0 507 2,800
Ecolab Inc Equity 278865100 277,344 7,100 0 0 7,100
El Paso Energy Corporation Equity 283905107 493,992 9,698 5,500 800 3,398
<CAPTION>
VOTING AUTHORITY
SOLE SHARED OTHER
<S> <C> <C> <C>
Conoco Inc Cl B 2,175 0 13,597
Constellation Energy Group Inc 1,800 820 6,845
Copper Mountain Networks Inc 0 0 2,550
Corning Inc 853 0 900
Costco Wholesale Corporation New 5,100 0 15,125
Coventry Health Care Inc 10,000 0 0
The Cadiz Corporation 34,550 0 0
The Cadiz Corporation 34,550 0 0
Elf Technologies Corp. Certificate #251 0 0 35,000
Powder Horn Ranch Llc 0 0 98
Winter Sports Inc 0 0 36,278
Powderhorn Ranch 2 Llc 20% Ownership Interest 2 0 2
Powderhorn Ranch 2, Llc 0 0 1
Danaher Corporation 3,000 0 4,425
Sundance Bankshares, Inc 9,600 0 0
Sundance Bankshares, Inc 6,300 0 0
Deere & Company 7,000 0 8,165
Dell Computer Corporation 0 0 12,250
Dial Corporation 0 0 14,460
Disney Walt Co Hldg 8,050 0 11,774
Dominion Res Inc Va 6,680 0 300
Dover Corporation 0 0 6,700
Du Pont E I De Nemours & Company 54,449 200 5,509
Duke Energy Corporation 25,713 0 11,125
EMC Corporation 1,908 0 41,050
EMC Energies Inc 14,000 0 0
Eog Resources Inc 0 0 17,600
Epi Environmental Inc 0 0 14,000
Eaton Corporation 0 507 2,800
Ecolab Inc 0 0 7,100
El Paso Energy Corporation 9,652 0 46
</TABLE>
Page 3 of 9
<PAGE> 6
<TABLE>
<CAPTION>
13 F REPORT OF MANAGED ASSETS
Date Run : 10/26/2000 Processing Date : 10/26/2000 Time Printed : 10:48:56 AM
As Of Date : 06/30/2000
INVESTMENT DIRECTION
NAME OF ISSUER TYPE CUSIP MARKET SHARES/PV SOLE SHARED OTHER
<S> <C> <C> <C> <C> <C> <C> <C>
Electronic Data Systems Corporation
(New) Equity 285661104 739,076 17,917 0 416 17,501
Emerson Electric Company Equity 291011104 1,151,593 19,074 11,774 1,400 5,900
Enron Corp Equity 293561106 985,496 15,279 7,800 100 7,379
Equity Office Properties Trust Equity 294741103 463,050 16,800 0 400 16,400
Equity Residential Property Trust Sbi Equity 29476L107 473,800 10,300 0 0 10,300
Ericsson L M Telephone Co Cl B Ser 10 Equity 294821400 361,600 18,080 8,000 0 10,080
Exodus Communications Inc Equity 302088109 225,706 4,900 0 0 4,900
Exxon Mobil Corporation Equity 30231G102 10,977,597 139,842 66,283 16,060 57,499
Fbl Finl Group Inc Cl A Equity 30239F106 8,356,950 530,600 0 0 530,600
Fbl Finl Group Inc Cl B Equity 30239F26 0 25,400 0 0 25,400
Fib Capital Trust 8 5/8% Cum Trust Pfd
Secs Preferred Stock 30243L206 299,000 11,500 2,300 2,000 7,200
Fpl Group Inc Equity 302571104 475,200 9,600 8,900 0 700
Federal Home Loan Mortgage Corporation Equity 313400301 1,388,138 34,275 10,800 0 23,475
Federal National Mortgage Association Equity 313586109 2,343,219 44,900 21,450 2,750 20,700
Federal Signal Corporation Equity 313855108 313,088 18,975 0 0 18,975
First Data Corporation Equity 319963104 1,108,325 22,334 7,634 950 13,750
First Interstate Bancsystem Inc Equity 320990104 82,171,401 2,106,959 475,414 1,253,232 378,313
Fiserv Inc Wis Equity 337738108 267,718 6,190 3,000 0 3,190
Fleetboston Financial Corp Equity 339030108 896,036 26,354 4,974 1,450 19,930
Ford Motor Company Equity 345370100 543,176 12,632 5,176 3,426 4,030
Founders Financial Corporation Michigan Equity 350990107 210,960 10,548 5,244 5,304 0
Franklin Resources Inc Equity 354613101 305,269 10,050 0 0 10,050
Gte Corporation Equity 362320103 1,620,492 26,032 7,450 2,555 16,027
Gap Inc Equity 364760108 414,063 13,250 675 0 12,575
Genentech Inc Equity 368710406 309,600 1,800 0 0 1,800
General Electric Company Equity 369604103 14,617,983 275,811 90,537 21,579 163,695
General Mills Inc Equity 370334104 395,123 10,330 530 0 9,800
General Motors Corporation Equity 370442105 243,514 4,194 1,140 200 2,854
General Motors Corporation Cl H New Equity 370442832 401,807 4,579 0 0 4,579
Genuine Parts Company Equity 372460105 269,000 13,450 9,600 3,850 0
Glacier Bancorp Inc New Equity 37637Q105 567,498 43,033 0 0 43,033
<CAPTION>
VOTING AUTHORITY
SOLE SHARED OTHER
<S> <C> <C> <C>
Electronic Data Systems Corporation (New) 416 0 17,501
Emerson Electric Company 12,774 0 6,300
Enron Corp 7,900 0 7,379
Equity Office Properties Trust 400 0 16,400
Equity Residential Property Trust Sbi 0 0 10,300
Ericsson L M Telephone Co Cl B Ser 10 8,000 0 10,080
Exodus Communications Inc 0 0 4,900
Exxon Mobil Corporation 83,462 846 55,534
Fbl Finl Group Inc Cl A 0 0 530,600
Fbl Finl Group Inc Cl B 0 0 25,400
Fib Capital Trust 8 5/8% Cum Trust Pfd Secs 2,300 0 9,200
Fpl Group Inc 9,100 0 500
Federal Home Loan Mortgage Corporation 10,800 0 23,475
Federal National Mortgage Association 24,200 0 20,700
Federal Signal Corporation 0 0 18,975
First Data Corporation 8,584 0 13,750
First Interstate Bancsystem Inc 2,030,319 454 76,186
Fiserv Inc Wis 3,000 0 3,190
Fleetboston Financial Corp 4,974 0 21,380
Ford Motor Company 8,602 0 4,030
Founders Financial Corporation Michigan 10,548 0 0
Franklin Resources Inc 0 0 10,050
Gte Corporation 9,548 127 16,357
Gap Inc 675 0 12,575
Genentech Inc 0 0 1,800
General Electric Company 108,718 3,398 163,695
General Mills Inc 530 0 9,800
General Motors Corporation 1,340 0 2,854
General Motors Corporation Cl H New 300 0 4,279
Genuine Parts Company 13,450 0 0
Glacier Bancorp Inc New 0 0 43,033
</TABLE>
Page 4 of 9
<PAGE> 7
<TABLE>
<CAPTION>
13 F REPORT OF MANAGED ASSETS
Date Run : 10/26/2000 Processing Date : 10/26/2000 Time Printed : 10:48:56 AM
As Of Date : 06/30/2000
INVESTMENT DIRECTION
NAME OF ISSUER TYPE CUSIP MARKET SHARES/PV SOLE SHARED OTHER
<S> <C> <C> <C> <C> <C> <C> <C>
Goldman Sachs Group Inc Equity 38141G104 241,931 2,550 0 0 2,550
Grainger W W Inc Equity 384802104 291,178 9,450 2,700 0 6,750
Hrpt Properties Trust Sbi Equity 40426W101 72,275 11,800 0 0 11,800
Hartford Financial Services Group Inc Equity 416515104 318,844 5,700 5,400 0 300
Heinz H J Company Equity 423074103 915,906 20,935 12,060 2,475 6,400
Hewlett Packard Company Equity 428236103 3,305,441 26,470 15,680 2,525 8,265
Home Depot Inc Equity 437076102 2,432,905 48,719 24,804 3,113 20,802
Homestake Mining Company Equity 437614100 122,396 17,803 14,688 0 3,115
Honeywell International Inc Equity 438516106 1,026,424 30,469 23,167 4,352 2,950
Illinois Tool Works Inc Equity 452308109 890,226 15,618 5,600 1,825 8,193
Infinity Companies Inc. Equity 456628106 100 10,000 0 0 10,000
Ingersoll-Rand Company Equity 456866102 252,569 6,275 0 0 6,275
Intel Corporation Equity 458140100 8,346,779 62,435 15,850 3,680 42,905
International Business Machines Corporation Equity 459200101 2,826,055 25,794 7,460 1,000 17,334
Interpublic Group Companies Inc Equity 460690100 1,267,425 29,475 15,800 3,450 10,225
Johnson & Johnson Equity 478160104 4,193,175 41,160 16,505 4,055 20,600
Johnson E L & Sons Inc Equity 479999104 236,748 181 181 0 0
Jore Corporation Equity 480815109 1,057,175 194,423 194,023 0 400
KLA-Tencor Corporation Equity 482480100 427,506 7,300 0 0 7,300
Kansas City Southern Industries Inc Equity 485170104 532,125 6,000 0 0 6,000
Kimberly Clark Corporation Equity 494368103 1,904,850 33,200 19,100 2,900 11,200
Kohls Corp Equity 500255104 342,094 6,150 5,750 400 0
LSI Logic Corp Equity 502161102 389,700 7,200 0 0 7,200
Level 3 Communications Inc Equity 52729N100 3,114,584 35,393 925 28,030 6,438
Lilly Eli & Co Equity 532457108 1,372,782 13,745 8,550 2,800 2,395
Lincoln National Corporation Equity 534187109 255,584 7,075 7,075 0 0
Lucent Technologies Inc Equity 549463107 5,196,521 87,705 40,008 8,329 39,368
MBIA Inc Equity 55262C100 779,433 16,175 14,225 1,350 600
MBNA Corporation Equity 55262L100 1,551,821 57,210 9,400 505 47,305
Mdu Resources Group Inc Equity 552690109 370,415 17,129 3,800 11,969 1,360
Mallon Resources Corporation Equity 561240201 99,844 11,250 0 0 11,250
<CAPTION>
VOTING AUTHORITY
SOLE SHARED OTHER
<S> <C> <C> <C>
Goldman Sachs Group Inc 0 0 2,550
Grainger W W Inc 2,700 0 6,750
Hrpt Properties Trust Sbi 0 0 11,800
Hartford Financial Services Group Inc 5,400 0 300
Heinz H J Company 14,585 0 6,350
Hewlett Packard Company 17,905 0 8,565
Home Depot Inc 27,879 0 20,840
Homestake Mining Company 17,688 0 115
Honeywell International Inc 27,094 0 3,375
Illinois Tool Works Inc 7,425 0 8,193
Infinity Companies Inc. 0 0 10,000
Ingersoll-Rand Company 0 0 6,275
Intel Corporation 19,620 100 42,715
International Business Machines Corporation 8,710 0 17,084
Interpublic Group Companies Inc 19,250 0 10,225
Johnson & Johnson 20,660 100 20,400
Johnson E L & Sons Inc 181 0 0
Jore Corporation 194,023 0 400
KLA-Tencor Corporation 0 0 7,300
Kansas City Southern Industries Inc 0 0 6,000
Kimberly Clark Corporation 21,900 0 11,300
Kohls Corp 6,150 0 0
LSI Logic Corp 0 0 7,200
Level 3 Communications Inc 25,655 0 9,738
Lilly Eli & Co 11,350 0 2,395
Lincoln National Corporation 7,075 0 0
Lucent Technologies Inc 49,019 558 38,128
MBIA Inc 15,575 0 600
MBNA Corporation 9,905 0 47,305
Mdu Resources Group Inc 5,875 0 11,254
Mallon Resources Corporation 0 0 11,250
</TABLE>
Page 5 of 9
<PAGE> 8
<TABLE>
<CAPTION>
13 F REPORT OF MANAGED ASSETS
Date Run : 10/26/2000 Processing Date : 10/26/2000 Time Printed : 10:48:57 AM
As Of Date : 06/30/2000
INVESTMENT DIRECTION
NAME OF ISSUER TYPE CUSIP MARKET SHARES/PV SOLE SHARED OTHER
<S> <C> <C> <C> <C> <C> <C> <C>
Manulife Financial Corporation Equity 56501R106 195,617 10,982 10,982 0 0
Marsh & McLennan Cos Inc Equity 571748102 988,188 9,462 1,000 0 8,462
McDonalds Corporation Equity 580135101 1,012,828 30,750 21,150 3,200 6,400
McGraw Hill Companies Inc Equity 580645109 1,102,410 20,415 0 0 20,415
Mead Corp Equity 582834107 258,813 10,250 0 0 10,250
Mediaone Group Inc Equity 58440J104 835,677 12,543 5,846 1,663 5,034
Medimmune Inc Equity 584699102 327,450 4,425 0 0 4,425
Medtronic Inc Equity 585055106 2,415,159 48,485 32,525 6,060 9,900
Men's Wearhouse Inc Equity 587118100 219,220 9,825 0 0 9,825
Merck & Company Inc Equity 589331107 5,424,207 70,789 30,300 5,840 34,649
Microsoft Corporation Equity 594918104 5,275,200 65,940 21,475 2,495 41,970
Minnesota Mining & Manufacturing Company Equity 604059105 621,720 7,536 4,426 450 2,660
Montana Power Company Equity 612085100 552,817 15,655 9,067 3,350 3,238
Morgan J P & Company Inc Equity 616880100 460,102 4,178 1,942 396 1,840
Morgan Stanley Dean Witter & Company Equity 617446448 622,627 7,479 0 780 6,699
Motorola Inc Equity 620076109 1,638,747 56,387 24,200 6,075 26,112
NCR Corporation Equity 62886E108 229,420 5,892 162 0 5,730
Nabors Industries Inc Equity 629568106 394,844 9,500 0 0 9,500
Nanopierce Technologies Inc Equity 630080109 71,000 35,500 0 0 35,500
Newell Rubbermaid Inc Equity 651229106 317,884 12,345 800 395 11,150
Nokia Corporation Equity 654902204 3,771,530 75,525 3,000 0 72,525
Nortel Networks Corporation New (Holding Co) Equity 656568102 3,172,601 46,485 1,200 0 45,285
Nupec Res Inc Equity 670574102 100 10,000 10,000 0 0
OM Group Inc Equity 670872100 325,600 7,400 0 0 7,400
Oracle Corp Equity 68389X105 3,141,416 37,370 10,150 800 26,420
PPG Industries Inc Equity 693506107 476,138 10,745 8,170 2,575 0
Pyr Energy Corporation Equity 693677106 99,750 21,000 0 0 21,000
Pall Corporation Equity 696429307 270,563 14,625 0 0 14,625
Parker Hannifin Corporation Equity 701094104 505,188 14,750 0 0 14,750
Paychex Inc Equity 704326107 489,174 11,647 0 0 11,647
Penney J C Inc Equity 708160106 258,125 14,000 0 12,100 1,900
<CAPTION>
VOTING AUTHORITY
SOLE SHARED OTHER
<S> <C> <C> <C>
Manulife Financial Corporation 10,982 0 0
Marsh & McLennan Cos Inc 1,000 0 8,462
McDonalds Corporation 23,650 0 7,100
McGraw Hill Companies Inc 0 0 20,415
Mead Corp 0 0 10,250
Mediaone Group Inc 7,509 0 5,034
Medimmune Inc 0 0 4,425
Medtronic Inc 38,985 0 9,500
Men's Wearhouse Inc 0 0 9,825
Merck & Company Inc 36,440 100 34,249
Microsoft Corporation 24,170 100 41,670
Minnesota Mining & Manufacturing Company 5,076 0 2,460
Montana Power Company 12,785 0 2,870
Morgan J P & Company Inc 2,338 0 1,840
Morgan Stanley Dean Witter & Company 1,180 0 6,299
Motorola Inc 29,675 0 26,712
NCR Corporation 162 0 5,730
Nabors Industries Inc 0 0 9,500
Nanopierce Technologies Inc 0 0 35,500
Newell Rubbermaid Inc 1,195 0 11,150
Nokia Corporation 3,000 0 72,525
Nortel Networks Corporation New (Holding Co) 1,200 0 45,285
Nupec Res Inc 10,000 0 0
OM Group Inc 0 0 7,400
Oracle Corp 10,950 0 26,420
PPG Industries Inc 10,745 0 0
Pyr Energy Corporation 0 0 21,000
Pall Corporation 0 0 14,625
Parker Hannifin Corporation 0 0 14,750
Paychex Inc 0 0 11,647
Penney J C Inc 12,100 0 1,900
</TABLE>
Page 6 of 9
<PAGE> 9
<TABLE>
<CAPTION>
13 F REPORT OF MANAGED ASSETS
Date Run : 10/26/2000 Processing Date : 10/26/2000 Time Printed : 10:48:57 AM
As Of Date : 06/30/2000
INVESTMENT DIRECTION
NAME OF ISSUER TYPE CUSIP MARKET SHARES/PV SOLE SHARED OTHER
<S> <C> <C> <C> <C> <C> <C> <C>
Pepsico Inc Equity 713448108 1,995,466 44,905 25,410 4,570 14,925
Pfizer Inc Equity 717081103 4,258,824 88,726 41,000 2,456 45,270
Pharmacia Corporation Equity 71713U102 870,418 16,840 500 475 15,865
Philip Morris Companies Inc Equity 718154107 1,037,930 39,075 7,500 970 30,605
Proctor & Gamble Company Equity 742718109 1,359,115 23,740 18,070 1,200 4,470
Quaker Oats Company Equity 747402105 574,706 7,650 2,775 0 4,875
Qualcomm Inc Equity 747525103 372,600 6,210 4,450 0 1,760
Qwest Communications International Inc Equity 749121109 357,750 7,200 0 0 7,200
Reliant Energy Inc Equity 75952J108 211,845 7,166 2,000 2,200 2,966
Republic Services Inc Equity 760759100 321,600 20,100 0 0 20,100
Reuters Group Plc Adr Equity 76132M102 428,932 4,292 0 866 3,426
Royal Dutch Petro Ny Reg Sh Par N 1.25 Gldr Equity 780257804 823,706 13,380 6,980 0 6,400
SBC Communications Inc Equity 78387G103 3,075,551 71,111 45,697 3,400 22,014
Sabre Group Holdings Inc Cl A Equity 785905100 299,250 10,500 0 0 10,500
Safeway Inc Equity 786514208 820,665 18,237 7,375 0 10,862
St Paul Companies Inc Equity 792860108 436,800 12,800 12,800 0 0
Schering Plough Corporation Equity 806605101 972,125 19,250 11,350 0 7,900
Schlumberger Limited Equity 806857108 1,213,029 16,255 13,205 1,900 1,150
Schwab Charles Corporation New Equity 808513105 203,768 6,060 1,800 0 4,260
Scientific-Atlanta, Inc Equity 808655104 506,600 6,800 0 0 6,800
Scottish Pwr Plc Adr Spon Final Installment Equity 81013T705 684,232 20,463 4,206 7,455 8,802
Sherwin-Williams Company Equity 824348106 987,338 46,600 25,500 5,700 15,400
Siebel Systems Inc Equity 826170102 339,392 2,075 0 0 2,075
Sigma-Aldrich Corp Equity 826552101 315,900 10,800 0 0 10,800
Skymall Inc Equity 830859104 44,650 18,800 0 0 18,800
Solectron Corp Com Equity 834182107 307,781 7,350 3,900 0 3,450
Southwest Airlines Company Equity 844741108 663,987 35,062 0 0 35,062
Sprint Corporation Equity 852061100 1,229,100 24,100 14,700 800 8,600
Starbucks Corporation Equity 855244109 355,526 9,310 3,400 0 5,910
State Street Corporation Equity 857477103 1,193,733 11,255 6,355 1,250 3,650
Sterling Financial Corporation Equity 859319105 118,255 10,283 0 0 10,283
<CAPTION>
VOTING AUTHORITY
SOLE SHARED OTHER
<S> <C> <C> <C>
Pepsico Inc 28,980 400 15,525
Pfizer Inc 43,456 0 45,271
Pharmacia Corporation 975 0 15,865
Philip Morris Companies Inc 9,470 0 29,605
Proctor & Gamble Company 19,470 0 4,270
Quaker Oats Company 2,775 0 4,875
Qualcomm Inc 4,450 0 1,760
Qwest Communications International Inc 0 0 7,200
Reliant Energy Inc 4,000 200 2,966
Republic Services Inc 0 0 20,100
Reuters Group Plc Adr 866 0 3,426
Royal Dutch Petro Ny Reg Sh Par N 1.25 Gldr 6,980 0 6,400
SBC Communications Inc 49,097 0 22,014
Sabre Group Holdings Inc Cl A 0 0 10,500
Safeway Inc 7,375 0 10,862
St Paul Companies Inc 12,800 0 0
Schering Plough Corporation 11,350 0 7,900
Schlumberger Limited 15,355 0 900
Schwab Charles Corporation New 1,800 0 4,260
Scientific-Atlanta, Inc 0 0 6,800
Scottish Pwr Plc Adr Spon Final Installment 17,971 0 2,492
Sherwin-Williams Company 31,200 0 15,400
Siebel Systems Inc 0 0 2,075
Sigma-Aldrich Corp 0 0 10,800
Skymall Inc 0 0 18,800
Solectron Corp Com 3,900 0 3,450
Southwest Airlines Company 0 0 35,062
Sprint Corporation 15,100 0 9,000
Starbucks Corporation 3,400 0 5,910
State Street Corporation 7,155 0 4,100
Sterling Financial Corporation 0 0 10,283
</TABLE>
Page 7 of 9
<PAGE> 10
<TABLE>
<CAPTION>
13 F REPORT OF MANAGED ASSETS
Date Run : 10/26/2000 Processing Date : 10/26/2000 Time Printed : 10:48:58 AM
As Of Date : 06/30/2000
INVESTMENT DIRECTION
NAME OF ISSUER TYPE CUSIP MARKET SHARES/PV SOLE SHARED OTHER
<S> <C> <C> <C> <C> <C> <C> <C>
Sun Microsystems Equity 866810104 1,707,352 18,775 2,300 0 16,475
Suncor Energy Inc Equity 867229106 377,663 16,200 0 0 16,200
Symbol Technologies Inc Equity 871508107 826,146 15,299 0 0 15,299
Sysco Corporation Equity 871829107 1,146,853 27,225 9,350 0 17,875
Target Corporation Equity 87612E106 871,450 15,025 600 0 14,425
Tektronix Inc Equity 879131100 333,000 4,500 0 0 4,500
Tenet Healthcare Corporation Equity 88033G100 275,400 10,200 0 0 10,200
Teradyne Inc Equity 880770102 345,450 4,700 0 0 4,700
Teva Pharmaceutical Industries Ltd Adr Equity 881624209 299,363 5,400 0 0 5,400
Texaco Inc Equity 881694103 1,687,386 31,688 8,171 1,800 21,717
Texas Instruments Inc Equity 882508104 1,176,273 17,125 0 0 17,125
Time Warner Inc Equity 887315109 1,115,300 14,675 0 0 14,675
Timken Company Equity 887389104 203,944 10,950 10,000 750 200
Gendco Leasing Company Equity 88891785 982,414 103 103 0 0
General Distributing Company Equity 88891787 232,500 155 155 0 0
Total Fina Sa Spon Adr Equity 89151E109 307,250 4,000 0 0 4,000
Transaction Systems Architects - A Equity 893416107 277,425 16,200 0 0 16,200
Tribune Company Equity 896047107 229,250 6,550 2,600 400 3,550
Tyco International Ltd New Equity 902124106 1,284,336 27,110 11,126 1,500 14,484
Usa Networks Inc Equity 902984103 295,722 13,675 0 0 13,675
Union Pacific Resources Group Inc Equity 907834105 353,694 16,077 677 517 14,883
Unisource Energy Corporation Equity 909205106 217,500 14,500 0 0 14,500
U S West Inc New Equity 91273H101 1,826,732 21,303 14,688 3,388 3,227
United Technologies Corporation Equity 913017109 1,027,958 17,460 7,615 0 9,845
Valassis Communications Inc Equity 918866104 550,906 14,450 0 0 14,450
Vale Creek Ranch Equity 918990102 374,922 186 0 186 0
Viad Corp Equity 92552R109 421,285 15,460 0 0 15,460
Vitesse Semiconductor Corporation Equity 928497106 215,170 2,925 0 0 2,925
Vodafone Airtouch Plc Equity 92857T107 1,044,018 25,195 14,620 1,875 8,700
Wachovia Corporation Equity 929771103 441,324 8,135 2,740 600 4,795
Wal Mart Stores Inc Equity 931142103 2,773,030 48,122 26,677 4,955 16,490
<CAPTION>
VOTING AUTHORITY
SOLE SHARED OTHER
<S> <C> <C> <C>
Sun Microsystems 2,300 0 16,475
Suncor Energy Inc 0 0 16,200
Symbol Technologies Inc 0 0 15,299
Sysco Corporation 9,350 0 17,875
Target Corporation 1,800 0 13,225
Tektronix Inc 0 0 4,500
Tenet Healthcare Corporation 0 0 10,200
Teradyne Inc 0 0 4,700
Teva Pharmaceutical Industries Ltd Adr 0 0 5,400
Texaco Inc 11,771 200 19,717
Texas Instruments Inc 0 0 17,125
Time Warner Inc 0 0 14,675
Timken Company 10,750 0 200
Gendco Leasing Company 103 0 0
General Distributing Company 155 0 0
Total Fina Sa Spon Adr 0 0 4,000
Transaction Systems Architects - A 0 0 16,200
Tribune Company 3,000 0 3,550
Tyco International Ltd New 11,726 200 15,184
Usa Networks Inc 0 0 13,675
Union Pacific Resources Group Inc 677 517 14,883
Unisource Energy Corporation 8,500 0 6,000
U S West Inc New 18,576 0 2,727
United Technologies Corporation 7,615 0 9,845
Valassis Communications Inc 0 0 14,450
Vale Creek Ranch 0 186 0
Viad Corp 0 0 15,460
Vitesse Semiconductor Corporation 0 0 2,925
Vodafone Airtouch Plc 16,520 725 7,950
Wachovia Corporation 3,340 0 4,795
Wal Mart Stores Inc 31,632 200 16,290
</TABLE>
Page 8 of 9
<PAGE> 11
<TABLE>
<CAPTION>
13 F REPORT OF MANAGED ASSETS
Date Run : 10/26/2000 Processing Date : 10/26/2000 Time Printed : 10:48:58 AM
As Of Date : 06/30/2000
INVESTMENT DIRECTION
NAME OF ISSUER TYPE CUSIP MARKET SHARES/PV SOLE SHARED OTHER
<S> <C> <C> <C> <C> <C> <C> <C>
Washington Mutual Inc Equity 939322103 244,658 8,473 0 0 8,473
Wells Fargo & Company Equity 949746101 1,003,238 25,890 13,782 3,346 8,762
Westerfed Financial Corporation Equity 957550106 246,174 17,051 0 0 17,051
Western Farm Bur Svc Co Equity 95816100 0 11,250 0 0 11,250
Williams Sonoma Inc Equity 969904101 202,734 6,250 0 0 6,250
Winter Sports Inc Equity 97607210 227,003 22,420 20,834 0 1,586
Worldcom Inc Ga New Equity 98157D106 4,676,773 101,946 25,399 24,742 51,805
Xilinx Inc Equity 983919101 371,531 4,500 2,100 0 2,400
Zanto Ranch Inc Class A Voting Equity 989990106 208,001 35,076 35,076 0 0
Zanto Ranch Inc Class B Non-Voting Equity 989990205 119,860 26,000 26,000 0 0
First Interstate Bancsystem Inc Equity 998000194 71,934,837 1,844,483 448,464 1,377,711 18,308
Sugarland Enterprises Inc Equity 998000483 943,628 27,241 887 26,354 0
Development Corporation Of Montana Equity DCM1 294,975 6,555 0 0 6,555
Ace Limited Ord Sh Equity G0070K103 243,600 8,700 0 0 8,700
Santa Fe International Corporation Equity G7805C108 202,638 5,800 0 0 5,800
Rolling Acres Farms Equity MC000205 586,100 29,305 29,305 0 0
McGeorge Contracting Co, Inc Equity MCCC 1,036,062 571 571 0 0
Pine Bluff Sand And Gravel Company Equity PBSG 3,366,450 2,494 2,494 0 0
Scott Land & Livestock Limited Partnership Equity SLL 1,916,656 399 15 151 233
Flextronics International Ltd Equity Y2573F102 271,316 3,950 0 0 3,950
440,489,024
<CAPTION>
VOTING AUTHORITY
SOLE SHARED OTHER
<S> <C> <C> <C>
Washington Mutual Inc 0 0 8,473
Wells Fargo & Company 16,328 800 8,762
Westerfed Financial Corporation 0 0 17,051
Western Farm Bur Svc Co 0 0 11,250
Williams Sonoma Inc 0 0 6,250
Winter Sports Inc 0 0 22,420
Worldcom Inc Ga New 43,591 250 58,105
Xilinx Inc 2,100 0 2,400
Zanto Ranch Inc Class A Voting 35,076 0 0
Zanto Ranch Inc Class B Non-Voting 26,000 0 0
First Interstate Bancsystem Inc 357,848 0 1,486,635
Sugarland Enterprises Inc 496 0 26,745
Development Corporation Of Montana 0 0 6,555
Ace Limited Ord Sh 0 0 8,700
Santa Fe International Corporation 0 0 5,800
Rolling Acres Farms 29,305 0 0
McGeorge Contracting Co, Inc 571 0 0
Pine Bluff Sand And Gravel Company 2,494 0 0
Scott Land & Livestock Limited Partnership 321 0 78
Flextronics International Ltd 0 0 3,950
</TABLE>
* * * END OF ASSET REPORT * * *
268 ASSETS REPORTED OF 18,332 ASSETS ON FILE
Page 9 of 9
