LEWISTON, Idaho, Feb. 1 /PRNewswire/ -- FirstBank NW Corp. (Nasdaq: FBNW),
the holding company for FirstBank Northwest, announced that its Board of
Directors has declared a regular quarterly cash dividend of $.10 per common
share. The dividend will be paid on March 7, 2001 to shareholders of record
at February 21, 2001. This is the fourteenth consecutive regular quarterly
cash dividend since FirstBank's conversion to the stock form of ownership in
July 1997, and the second consecutive cash dividend of $.10 per share.
"Cash dividends build shareholder value; plus, they demonstrate our
on-going confidence in FirstBank," said Clyde E. Conklin, President and
Chief Executive Officer. "We have made significant investments for long-term
growth and have confidence in our long-term earnings growth."
On January 23, 2001, FirstBank NW Corp. reported net income of
$478,000, or $.33 per diluted share, in its third fiscal quarter ended
December 31, 2000, compared to $507,000, or $.32 per diluted share, in the
like quarter a year ago.
Net loans rose 18% to $214 million, and assets increased 13.2% to
$276.8 million at December 31, 2000, compared to the year before. At the end
of December, stockholders' equity was $27.3 million and the equity to asset
ratio was 9.9% compared to 10.6% a year ago. Book value increased to
$18.95 per share at December 31, 2000, from $16.90 last year.
FirstBank NW Corp. is the parent of FirstBank Northwest. Founded in
1920, FirstBank Northwest is based in Lewiston, Idaho and operates eight
branch locations in northern Idaho and eastern Washington along the
Idaho/Washington border. FirstBank Northwest is known as the local community
bank, offering its customers highly personalized service in the many
communities it serves.
Statements concerning future performance, developments or events,
concerning expectations regarding expansion opportunities, technology
efficiencies, new products and services, and any other guidance on future
periods, constitute forward-looking statements which are subject to a number
of risks and uncertainties including interest rate fluctuations, regional
economic conditions, competitive factors, and government and regulatory
actions that might cause actual results to differ materially from stated
expectations.
SOURCE FirstBank NW Corp.
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Related links:
http://www.firstbanknw.com
Company News On-Call:
http://www.prnewswire.com/comp/124037.html or fax,
800-758-5804, ext. 124037
CONTACT:
Larry K. Moxley, Exec. VP & CFO of FirstBank
NW Corp., 208-746-9610
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