CLARKSTON, Wash., Jan. 25 /PRNewswire-FirstCall/ -- FirstBank NW Corp.
(Nasdaq: FBNW) today announced that John W. Gentry, a director of FirstBank NW
Corp. since 2003, has established a 10b5-1 plan to sell 10,000 shares of
common stock of FirstBank NW Corp over a period of one year. A 10b5-1 plan
allows directors and officers of public companies to adopt written plans at a
time when they are not in possession of material nonpublic information and to
sell shares according to the plan on a regular basis (for example, weekly or
monthly), regardless of any subsequent nonpublic information they receive or
the price of the stock at the time of the sale.
Mr. Gentry adopted such a plan in order to gradually diversify his
financial holdings, minimize the market effect of such sales by spreading them
over a more extended period than the traditional trading "window" and avoid
being prohibited from selling any shares for long periods of time as a result
of nonpublic information he may possess during the traditional trading window.
FirstBank NW Corp. is the parent of FirstBank Northwest. Founded in 1920,
FirstBank Northwest is based in Clarkston, Washington. FirstBank Northwest
operates 20 branch locations in northern Idaho along the Idaho/Washington
border and in eastern Oregon, in addition to residential loan centers in
Lewiston, Coeur d'Alene, Boise and Nampa, Idaho, Spokane, Washington, and
Baker City, Oregon. Salomon Smith Barney has investment centers in the Coeur
d'Alene, Idaho, Clarkston and Liberty Lake, Washington branches, and Baker
City, LaGrande, Pendleton and Ontario, Oregon branches. FirstBank Northwest
is known as the local community bank, offering its customers highly
personalized service in the many communities it serves.
Certain matters in this News Release may constitute forward-looking
statements within the meaning of the Private Securities Litigation Reform Act
of 1995. These forward-looking statements may relate to, among others,
expectations of the business environment in which the Company operates,
projections of future performance, including operating efficiencies, perceived
opportunities in the market, potential future credit experience and statements
regarding the Company's mission and vision. These forward-looking statements
are based upon current management expectations, and may, therefore, involve
risks and uncertainties. The Company's actual results, performance, and
achievements may differ materially from those suggested, expressed or implied
by forward-looking statements due to a wide range of factors including, but
not limited to, the general business environment, interest rates, the real
estate market in Washington, Idaho and Oregon, the demand for mortgage loans,
the Company's ability to successfully integrate the business of Oregon Trail,
the realization of expected cost savings or accretion to earnings because of
the acquisition of Oregon Trail, competitive conditions between banks and
non-bank financial service providers, regulatory changes, and other risks
detailed in the Company's reports filed with the Securities and Exchange
Commission, including its Annual Report on From 10-KSB for the fiscal year
ended March 31, 2004.
SOURCE FirstBank NW Corp.
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Related links:
http://www.fbnw.com
CONTACT:
Larry K. Moxley, Exec. VP & CFO of FirstBank
NW Corp., +1-509-295-5100
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