First Interstate Bancorp., parent company of First Interstate Bank of Utah, reported a net loss of $214.4 million, or $4.76 per share, for the third quarter and $14.6 million, or 47 cents per share, for the nine months ended Sept. 30.

J.J. Pinola, chairman,, said third quarter results include a provision for the final element in the company's restructuring program - the spinoff of about $400 million in non-performing assets to a newly created, publicly traded company - as well as the addition of $180 million for loan and foreclosed property reserves of its Texas subsidiary resulting in an operating loss of $186.2 million for the quarter and $183.8 million for the year-to-date for Texas.Excluding these special items, earnings totaled $94.2, or $1.95 per share, for the quarter and $268.1 million, or $5.72 per share, for the year-to-date. Pinola said he expects fourth quarter 1988 results to "reflect the strong performance achieved in the first and second quarters this year when operating earnings reached record levels."

For the year-ago periods, the company incurrred a net loss of $78.8 million, or $1.71 per share, in the third quarter and $508.5 million, or $10.88 per share, for the first nine months. The 1987 results reflect the aggressive actions taken by the company with regard to reserves, chargeoffs and restructuring.

Non-interest income for the quarter rose $59.5 million, or 33.7 percent, from the like 1987 quarter to $235.8 million. Non-interest income for the nine months was $725.2 million vs. $605.3 million in 1987. Growth of deposit service charges and foreign exchange trading and other fees account for most of the gain in non-interest income over the 1987 periods.

During the third quarter, $308.7 million was provided for possible loan losses, bringing the year-to-date total to $469.8 million. The provision for the third quarter includes the addition of $135 million to the allowance for loan losses of the corporation's Texas subsidiary.

The companywide provision for loan losses in 1987 was $116 million for the quarter and $1,010.8 million for the nine months. The 1987 nine-month provision included $687.5 million of additional reserves for foreign and domestic loans.