First Interstate BancSystem, in Billings, Mont., will appeal a Montana state court jury's verdict that the company pay about $17 million in compensatory and punitive damages from a dispute with a former customer.

The $7.7 billion-asset company said in a regulatory filing on Thursday that it will "record the estimated loss associated with this award" in the third quarter, without specifying the amount of the loss. KBW analyst Jacquelynne Chimera estimated the verdict will reduce First Interstate's third-quarter earnings by 24 cents per share.

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