A mathematical model is developed to analyze the passenger waiting time of an intercity transit station with feeder bus services. The intercity transit system is characterized by its comparatively long headway and fixed schedules. Thus, the behavior of passengers of the intercity transit system is significantly different from the behavior of passengers of urban bus systems. If the urban bus system is always considered as a major feeder system for the intercity transit, passenger waiting time and related behaviors of the intercity transit station should be influenced by the reliability of the feeder bus services. The results provide planners with an analytic model for accurately quantifying the relations between passenger waiting time of an intercity transit system (e.g., high-speed rail) and the reliability of feeder bus services.