EXHIBIT 23.3
 
                        INDEPENDENT ACCOUNTANTS' CONSENT
 
The Board of Directors
First Interstate BancSystem, Inc.:
 
    We consent to the use of our report included herein and to the references to
our firm under the headings "Selected Consolidated Financial Data" and "Experts"
in the prospectus. Our report refers to a change in the method of accounting for
investment securities.
 
                                          /s/ KPMG PEAT MARWICK LLP
 
   
Billings, Montana
October 30, 1997