First Interstate Bancorp said an agreement has...

First Interstate Bancorp said an agreement has been reached for the sale of its institutional government securities trading business. The company said its subsidiary, First Interstate Ltd., has entered into an agreement with Printon, Kane Government Securities L.P. for the sale of FIL’s wholly owned subsidiary, First Interstate Capital Markets Inc., which conducts First Interstate’s institutional securities business. The purchase price for FICMI is expected to exceed $40 million and will be a cash transaction.