Ownership Submission
FORM 3
UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

INITIAL STATEMENT OF BENEFICIAL OWNERSHIP OF SECURITIES

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934, Section 17(a) of the Public Utility Holding Company Act of 1935 or Section 30(h) of the Investment Company Act of 1940
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(Print or Type Responses)
1. Name and Address of Reporting Person *
  GUENTHNER KEVIN
2. Date of Event Requiring Statement (Month/Day/Year)
03/22/2012
3. Issuer Name and Ticker or Trading Symbol
FIRST INTERSTATE BANCSYSTEM INC [FIBK]
(Last)
(First)
(Middle)
PO BOX 30918
4. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
_____ Director _____ 10% Owner
__X__ Officer (give title below) _____ Other (specify below)
SVP & Chief Infor. Officer
5. If Amendment, Date Original Filed(Month/Day/Year)
(Street)

BILLINGS, MT 59116-0918
6. Individual or Joint/Group Filing(Check Applicable Line)
_X_ Form filed by One Reporting Person
___ Form filed by More than One Reporting Person
(City)
(State)
(Zip)
Table I - Non-Derivative Securities Beneficially Owned
1.Title of Security
(Instr. 4)
2. Amount of Securities Beneficially Owned
(Instr. 4)
3. Ownership Form: Direct (D) or Indirect (I)
(Instr. 5)
4. Nature of Indirect Beneficial Ownership
(Instr. 5)
Class A Common Stock 10,783
D
 
Class A Common Stock 8,760
I
By 401(k) Plan

Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly. SEC 1473 (7-02)
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Table II - Derivative Securities Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security
(Instr. 4)
2. Date Exercisable and Expiration Date
(Month/Day/Year)
3. Title and Amount of Securities Underlying Derivative Security
(Instr. 4)
4. Conversion or Exercise Price of Derivative Security 5. Ownership Form of Derivative Security: Direct (D) or Indirect (I)
(Instr. 5)
6. Nature of Indirect Beneficial Ownership
(Instr. 5)
Date Exercisable Expiration Date Title Amount or Number of Shares
Class B Common Stock (1) 03/05/2010(1) 12/31/2029(1) Class B Common Stock 2,615 $ 0 D  
Stock Options (2) 01/29/2003 01/29/2013 Class B Common Stock 5,200 $ 11.25 D  
Stock Options (2) 02/04/2004 02/04/2014 Class B Common Stock 8,000 $ 12.37 D  
Stock Options (2) 02/03/2005 02/03/2015 Class B Common Stock 6,800 $ 13.87 D  
Stock Options (2) 01/26/2006 01/26/2016 Class B Common Stock 12,000 $ 17 D  
Stock Options (2) 01/25/2007 01/25/2017 Class B Common Stock 12,000 $ 20.62 D  
Stock Options (2) 02/15/2008 02/15/2018 Class B Common Stock 12,000 $ 20.87 D  
Stock Options (3) 05/15/2010 05/15/2019 Class B Common Stock 4,620 $ 15.25 D  
Stock Options (3) 02/12/2011 02/12/2020 Class B Common Stock 4,908 $ 15 D  
Stock Options (3) 02/14/2012 02/14/2021 Class A Common Stock 4,343 $ 14.2 D  
Stock Options (3) 02/17/2013 02/17/2022 Class A Common Stock 4,466 $ 14.37 D  

Reporting Owners

Reporting Owner Name / Address Relationships
Director 10% Owner Officer Other
GUENTHNER KEVIN
PO BOX 30918
BILLINGS, MT 59116-0918
      SVP & Chief Infor. Officer  

Signatures

/s/ KEVIN GUENTHNER 03/30/2012
**Signature of Reporting Person Date

Explanation of Responses:

* If the form is filed by more than one reporting person, see Instruction 5(b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations. See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
(1) On March 5, 2010, the Company recapitalized its existing common stock. The recapitalization included, among other things, a redesignation of existing common stock as Class B common stock, a four-for-one split of Class B common stock, and the creation of a new class of common stock designated as Class A common stock, which is listed on the NASDAQ stock market under the symbol "FIBK". The Class B Common Stock is convertible at any time into Class A Common stock on a share for share basis at the descretion of the holder. The conversion feature of the Class B common stock does not expire.
(2) Stock options vest 25% on date of grant and 25% on each annual anniversary of grant date.
(3) Stock options vest in equal portions on first, second and third anniversaries of grant date.

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