LEWISTON, Idaho, April 19 /PRNewswire/ -- FirstBank Corp. (Nasdaq: FBNW),
today announced its Board of Directors has declared a regular quarterly cash
dividend of $.09 per common share. The dividend will be paid on
May 20, 1999 to shareholders of record at May 6. FirstBank Corp. is the
holding company for FirstBank Northwest.
This is the seventh consecutive regular quarterly cash dividend since
FirstBank's conversion to the stock form of ownership on July 1, 1997.
FirstBank increased its quarterly cash dividend to $.09 per share in
October 1998 and also paid a $.09 per share dividend in January 1999.
Dividends of $.08 per share were paid in May and September 1998. Prior to
that, FBNW paid cash dividends of $.07 per share in November 1997 and
February 1998.
"We've had a good year and want to pass our success on to shareholders,"
said Clyde E. Conklin, President and Chief Executive Officer. "We believe
cash dividends demonstrate our confidence in FirstBank and build shareholder
value." FirstBank will report financial results for its fourth quarter and
fiscal 1999, ended March 31, later this week.
On April 7, FirstBank announced that Salomon Smith Barney Inc. -- one of
the best known and most respected names in investing -- is opening an
investment center in FirstBank's downtown Lewiston bank branch. FirstBank
intends to place investment centers in additional branches over time in order
to provide a full spectrum of products. Salomon Smith Barney is a subsidiary
of Citigroup Inc. (NYSE: C).
FirstBank Corp. is the parent of FirstBank Northwest, which is
headquartered in Lewiston, Idaho at the northern end of Hell's Canyon.
Founded in 1920, the Bank converted from its charter as a federal stock
savings bank to a Washington State savings bank charter February 2, 1998.
FirstBank operates six branch locations along the Idaho/Washington border,
plus two residential loan centers located in Lewiston and Coeur d'Alene, ID.
A supermarket branch location opened in February in Post Falls, Idaho and a
second Washington State branch -- in Liberty Lake, near Spokane -- will open
later this year. FirstBank 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 additional Salomon Smith Barney investment
centers, and any other guidance on future periods, constitute forward-looking
statements that are subject to a number of risks and uncertainties. These
include competitive success, the ability to market new products, regional
economic conditions, interest rate fluctuations, and government and regulatory
actions, which might cause actual results to differ materially from stated
expectations
SOURCE FirstBank Corp.
 back to top
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, Chief Financial Officer of
FirstBank Corp., 208-746-9610
|
