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Securities and Exchange Commission
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
Date of report (date of earliest event reported) December 18, 1996
First Interstate BancSystem of Montana, Inc.
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(Exact name of registrant as specified in its charter)
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Montana 333-3250 81-0331430
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(State or other jurisdiction of (Commission (IRS Employer
incorporation or organization) File No.) Identification No.)
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P.O. Box 30918, 401 North 31st Street, Billings, MT 59116-0918
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(Address of principal executive offices) (Zip code)
Registrant's telephone number, including area code 406/255-5300
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Not applicable
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(Former name or former address, if changed since last report)
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Item 5. OTHER EVENTS
Attached hereto as Exhibit 99 is the press release by Mountain Bank
Systems, Inc. announcing the closing of its sale of Mountain Bank of
Whitefish to First Interstate BancSystem of Montana, Inc. Mountain Bank of
Whitefish has offices in Whitefish, Montana and Evergreen, Montana, and has
total assets of approximately $68 million. The purchase by First
Interstate BancSystem of Montana, Inc. was funded by cash dividends from
subsidiaries and borrowings on its existing credit line.
Item 7. FINANCIAL STATEMENTS AND EXHIBITS
(c) Exhibits
99 Copy of Press Release announcing purchase of Mountain Bank of
Whitefish by First Interstate BancSystem of Montana, Inc.
SIGNATURE
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Pursuant to the requirements of the Securities Exchange Act of 1934, the
registrant has duly caused this report to be signed on its behalf by the
undersigned, thereunto duly authorized, on December 26, 1996.
FIRST INTERSTATE BANCSYSTEM OF MONTANA, INC.
By:
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Terrill R. Moore
Senior Vice President and Chief Financial Officer
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EXHIBIT 99
PRESS RELEASE - FOR IMMEDIATE RELEASE
DECEMBER 18, 1996
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Mountain Bank System, Inc. announced that the sale of Mountain Bank (Whitefish
and Evergreen) to First Interstate BancSystem of Montana, Inc. (FIBM) was
completed today.
Mountain Bank President Jerry James stated, "We are very excited with the
prospect of being part of First Interstate Bank. They are the largest
Montana-based bank in the state and are committed to community banking. We
think their operating philosophy of delivering the best in customer service and
meeting the needs of the community fit very well with the way we've operated our
bank."
First Interstate Bank President Bill Ruegamer commented, "We are very pleased
that this acquisition was completed on such a short timeline. We would like to
thank the managment of Mountain Bank System and Mountain Bank for their
cooperation and hard work. We would also like to thank the Federal Reserve, the
Montana Banking Commissioner's office and the FDIC for their help in the
facilitation of this acquisition. As members of the First Interstate family,
the customers of Mountain Bank will be able to enjoy a new level of convenience,
customer service, financial security and innovative financial programs that
previously were not available to them. And as a Montana banking organization,
we are committed to investing in communities we serve."
FIBM is a privately owned banking organization that currently operates 16
Montana First Interstate Bank offices in Billings, Missoula, Bozeman,
Livingston, Gardiner, Great Falls, Kalispell, Cut Bank, Miles City, Colstrip,
and Hardin and 9 Wyoming offices in Sheridan, Gillette, Buffalo, Casper,
Riverton, Laramie, and Greybull. Their recent acquisition of the First
Interstate banks in Great Falls, Kalispell, and Cut Bank were a result of the
old First Interstate Bancorp's takeover by Wells Fargo Bank. Wells sold their
banks in Montana and Wyoming to FIBM, leaving FIBM's banks to operate using the
First Interstate Bank name. FIBM's assets are approximately $2 billion.
As mentioned, Mountain Bank was previously owned by Mountain Bank Systems, Inc.
The bank is approximately $68 million in assets and was established in 1964.
Signage at the bank offices will change to First Interstate Bank within the next
few days with completion of the conversion of data processing systems expected
this Spring.
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FOR FURTHER INFORMATION CALL:
Neil Klusmann, Vice President-Marketing, FIBM
(406)255-5308 FAX (406)255-5350
Jerry James, President
Mountain Bank, Whitefish
(406)862-2551 FAX (406)862-1282
