BLACK HILLS CORP

Ticker: BKH CUSIP: 092113109 Class: COM

ISTHMUS PARTNERS, LLC's Holding History (CIK: 0001639666)

Note: Option positions (PUT/CALL) are excluded.

Q4 2015

Shares 1,500 Value ($000) $70 Avg Close $30.44 Range $27.84 - $33.06

Q3 2015

Shares 1,500 Value ($000) $62 Avg Close $28.18 Range $25.38 - $32.28

Q2 2015

Shares 1,500 Value ($000) $65 Avg Close $32.61 Range $29.70 - $35.86

Q1 2015

Shares 1,500 Value ($000) $76 Avg Close $34.02 Range $32.42 - $35.85

Q4 2014

Shares 1,500 Value ($000) $80 Avg Close $35.24 Range $31.42 - $38.13

Period	Shares	Value ($000)	Average Close	Price Range
Q4 2015	1,500	$70	$30.44	$27.84 - $33.06
Q3 2015	1,500	$62	$28.18	$25.38 - $32.28
Q2 2015	1,500	$65	$32.61	$29.70 - $35.86
Q1 2015	1,500	$76	$34.02	$32.42 - $35.85
Q4 2014	1,500	$80	$35.24	$31.42 - $38.13