CLARKSTON, Wash., Feb. 10 /PRNewswire-FirstCall/ -- FirstBank NW Corp.
(Nasdaq: FBNW), the holding company for FirstBank Northwest, announced that
its Board of Directors, at its board meeting held on February 9, 2006,
declared a quarterly cash dividend of $0.10 per common share. The dividend
will be paid on March 9, 2006 to shareholders of record as of the close of
business on February 23, 2006. This marks the thirty-fourth regular quarterly
cash dividend since FirstBank became a publicly traded company in July 1997.
The cash dividend reflects the increased shares issued on February 9, 2006
as a result of a two-for-one stock split in the form of a 100% per share stock
dividend on the Company's outstanding common stock. The two-for-one stock
split was previously announced on January 4, 2006.
FirstBank NW Corp. also announced that it appointed Michael F. Reuling to
its Board of Directors on February 9, 2006. Mr. Reuling is presently a
director of FirstBank Northwest. Mr. Reuling will serve as a director on both
Boards, and will serve as a member of the Compensation Committees of FirstBank
Northwest and FirstBank NW Corp.
Mr. Reuling became a director of FirstBank Northwest on January 1, 2005.
He is a resident of Boise, Idaho, and is a self-employed real estate
consultant. Formerly, Mr. Reuling worked for Albertsons, Inc. in various
executive management roles responsible for real estate, store development,
information technology, human resources and finance. Mr. Reuling retired from
Albertsons, Inc. in 2001.
FirstBank NW Corp. (headquartered in Clarkston, Washington) is the holding
company for FirstBank Northwest, a Washington state chartered savings bank
founded in 1920, operating in the rural markets of eastern Oregon, eastern
Washington and central Idaho, in addition to the larger and growing markets of
Boise and Coeur d'Alene, Idaho and Spokane, Washington. FirstBank Northwest
is focused on each community served, striving to deliver competitive financial
products and services through exceptional customer service standards, local
expertise and leadership. FirstBank Northwest operates 20 branch locations in
Idaho, eastern Washington and eastern Oregon, in addition to residential loan
centers in Lewiston, Coeur d'Alene, Boise and Nampa, Idaho, Spokane,
Washington, and Baker City, Oregon. FirstBank Northwest is known as the local
community bank, offering its customers highly personalized service in the many
communities it serves.
FORWARD LOOKING STATEMENTS:
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,
competitive conditions between banks and non-bank financial service providers,
regulatory changes, costs of implementing additional securities requirements
and requirements of the Sarbanes-Oxley Act of 2002 and other risks detailed
in the Company's reports filed with the Securities and Exchange Commission,
including its Annual Report on Form 10-K for the fiscal year ended March 31,
2005.
SOURCE FirstBank NW Corp.
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Related links:
http://www.fbnw.com
CONTACT:
Larry K. Moxley of FirstBank NW Corp.,
+1-509-295-5100
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