LEWISTON, Idaho, Oct. 19 /PRNewswire/ -- FirstBank Corp. (Nasdaq: FBNW),
today announced its Board of Directors has increased the regular quarterly
cash dividend on its common stock by 12.5% to $.09 per share. The dividend
will be paid on November 25, 1998 to shareholders of record November 11.
FirstBank Corp. is the holding company for FirstBank Northwest.
This is FirstBank's fifth consecutive regular quarterly cash dividend
since the company's conversion to the stock form of ownership on July 1, 1997.
FirstBank paid dividends of $.08 per share in May and September 1998. Prior
to that, FBNW paid two cash dividends of $.07 per share in November 1997 and
February 1998.
"Our business is growing on track and we intend to share our success with
shareholders," said Clyde E. Conklin, President and Chief Executive Officer.
"Paying dividends is one of the most tangible ways we can demonstrate our
confidence in our company and build shareholder value."
FirstBank will report its financial results for the second quarter of
fiscal 1999, ended September 30, 1998, later this week.
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 currently operates six branch locations along the Idaho/Washington
border, plus two residential loan centers located in Lewiston and Coeur
d'Alene, ID. In September, it announced plans for its second Washington State
branch -- in Liberty Lake, near Spokane. FirstBank is known as the local
community bank, offering its customers highly personalized service in the many
communities it serves.
SOURCE FirstBank 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, Chief Financial Officer of
FirstBank Corp., 208-746-9610
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