First Interstate Bancorp, holding company of First Interstate Bank of Utah, will beat analysts' estimates that it will earn $6.66 per share in 1993 and will meet or exceed 1994 estimates of $7.70 per share, according to Edward Carson, chief executive officer.

Carson said First Interstate is likely to earn more in the fourth quarter than the third quarter's $1.80 per share. "We are seeing improved business all the way through," he said.He said although borrowers are not really "knocking down the doors, we showed a very good increase in loans in the third quarter." First Interstate Bank of Utah officials reported $35 million in new commercial loans in the third quarter. The bank also originated more than 2,200 consumer loans during the period, a 35 percent increase over the second quarter.

Carson said the driving forces behind the better fourth quarter results are an increasing number of loans, stable net interest margins, lower credit losses and non-interest income from the sale of mutual funds and other investment products.

Join the Conversation
Looking for comments?
Find comments in their new home! Click the buttons at the top or within the article to view them — or use the button below for quick access.