First Interstate BancSystem 8K Other Events | FIBK 18 Mar 19

Exhibit 99.2


Nationwide Bank Deals Announced Between January 1, 2018 and October 10, 2018 with Target Assets Between $500 Million and $1 Billion
				Transaction Information								Seller Financial Information
Acquiror	Target	Annc. Date		Deal Value ($mm)		Price/ LTM EPS (x)		Price/ TBVPS (%)		Core Deposit Prem. (%)		Total Assets ($mm)		Total Equity ($mm)		TCE/ TA (%)		LTM ROAA (%)		LTM ROAE (%)		NPAs/ Assets (%)
American National Bankshares Inc. (VA)	HomeTown Bankshares Corporation (VA)		10/1/2018		95.3		27.4		182		11.0		558		52		9.3		0.64		6.9		1.59
Park National Corporation (OH)	CAB Financial Corporation (SC)		9/13/2018		140.3		28.0		183		12.9		731		79		10.2		0.70		6.3		0.58
Banner Corporation (WA)	Skagit Bancorp, Inc. (WA)		7/25/2018		192.4		21.6		240		15.5		922		80		8.7		0.98		11.3		0.36
ConnectOne Bancorp, Inc. (NJ)	Greater Hudson Bank (NY)		7/12/2018		76.3		36.3		135		5.7		501		57		11.3		0.41		3.5		1.59
Northwest Bancshares, Inc. (PA)	Donegal Financial Services Corp. (PA)		6/12/2018		86.1		20.3		174		7.4		577		86		13.8		0.82		5.5		0.32
Seacoast Banking Corporation of Florida (FL)	First Green Bancorp, Inc. (FL)		6/11/2018		135.1		35.8		178		13.3		731		77		10.5		0.91		8.1		0.07
German American Bancorp, Inc. (IN)	First Security, Inc. (KY)		5/22/2018		103.3		35.5		162		11.1		586		59		9.2		0.48		5.0		2.04
Stifel Financial Corp. (MO)	Business Bancshares, Inc. (MO)		5/10/2018		120.8		27.2		173		16.2		619		74		12.0		0.86		7.3		1.03
First Interstate BancSystem, Inc. (MT)	Northwest Bancorporation, Inc. (WA)		4/25/2018		155.6		28.8		219		13.9		827		82		8.6		0.70		7.0		0.64
Private Investor—Gaylon Lawrence Jr. (-)	Volunteer State Bancshares, Inc. (TN)		4/25/2018		127.5		28.1		234		20.3		622		61		9.8		1.50		14.5		1.39
National Commerce Corporation (AL)	Landmark Bancshares, Inc. (GA)		4/24/2018		115.4		16.0		222		17.7		595		70		10.8		1.36		11.9		1.11
RBB Bancorp (CA)	First American International Corp. (NY)		4/23/2018		116.8		19.2		177		12.1		873		79		7.3		0.95		10.6		0.30
BancorpSouth Bank (MS)	Icon Capital Corporation (TX)		4/18/2018		132.7		19.2		198		13.3		794		75		9.4		1.00		10.6		2.52
QCR Holdings, Inc. (IL)	Springfield Bancshares, Inc. (MO)		4/18/2018		84.3		17.4		184		13.6		563		49		8.6		1.56		17.3		0.18
Triumph Bancorp, Inc. (TX)	First Bancorp of Durango, Inc. (IL)		4/9/2018		134.5		36.4		203		12.7		634		56		8.5		0.94		9.3		1.22
HarborOne Bancorp, Inc. (MHC) (MA)	Coastway Bancorp, Inc. (RI)		3/14/2018		125.6		44.1		174		14.2		739		71		9.7		0.39		3.7		1.94
Civista Bancshares, Inc. (OH)	United Community Bancorp (IN)		3/12/2018		118.5		34.0		165		10.3		546		72		12.7		0.61		4.6		0.39
First Choice Bancorp (CA)	Pacific Commerce Bancorp (CA)		2/26/2018		114.4		23.5		194		15.5		536		64		11.3		0.88		7.4		0.20


Nationwide Bank Deals Announced Between January 1, 2018 and October 10, 2018 with Target Assets Between $500 Million and $1 Billion
					Transaction Information								Seller Financial Information
Acquiror	Target		Annc. Date		Deal Value ($mm)		Price/ LTM EPS (x)		Price/ TBVPS (%)		Core Deposit Prem. (%)		Total Assets ($mm)		Total Equity ($mm)		TCE/ TA (%)		LTM ROAA (%)		LTM ROAE (%)		NPAs/ Assets (%)
Mechanics Bank (CA)		Learner Financial Corporation (CA)		2/12/2018		124.9		37.6		170		9.3		692		69		9.9		0.56		5.6		0.79
Mid Penn Bancorp, Inc. (PA)		First Priority Financial Corp. (PA)		1/16/2018		90.7		32.6		194		11.2		612		50		7.3		0.52		6.1		0.37
		(20 Transactions)		High		192.4		44.1		240		20.3		922		86		13.8		1.56		17.3		2.52
				Low		76.3		16.0		135		5.7		501		49		7.3		0.39		3.5		0.07
				Mean		119.5		28.4		188		12.9		663		68		9.9		0.84		8.1		0.93
				Median		119.6		28.0		182		13.1		621		71		9.7		0.84		7.2		0.72
				Idaho Independent Bank¹		183.1		34.3		245		18.4²		742		72		9.8		0.74		7.7		0.26	⁴
												18.3³

Note:

1:	Preliminary September 30, 2018 financial information, unless otherwise noted

2:	Core deposits defined as total deposits less time deposits greater than $100,000; assumes percentage of core deposits from June 30, 2018 financials applied to September 30, 2018 total deposits

3:	Core deposits defined as total deposits less time deposits greater than $250,000; assumes percentage of core deposits from June 30, 2018 financials applied to September 30, 2018 total deposits

4:	Ratio as of June 30, 2018

Excludes transactions where deal value was not reported

Source: S&P Global Market Intelligence; data as of October 10, 2018

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