BAKER CITY, Ore. and CLARKSTON, Wash., Oct. 22 /PRNewswire-FirstCall/ --
Oregon Trail Financial Corp. (Nasdaq: OTFC) and FirstBank NW Corp.
(Nasdaq: FBNW) previously announced that the deadline for Oregon Trail
shareholders to make cash/stock elections in connection with the pending
merger between the two companies had been extended to Tuesday, October 21,
2003. Based upon a preliminary review of the Election Forms received prior to
the election deadline it appears that elections have been received for more
than 100% of the FirstBank NW Corp. shares that are available in the merger.
Accordingly, any shares of Oregon Trail Financial Corp. which are purchased
prior to the closing date of the merger (which will be treated as
"no-election" shares) as well as all other no election shares are expected to
be converted into the right to receive the cash consideration of $22.00 for
each share of Oregon Trail upon consummation of the merger. It is also
expected that there will be an allocation of some cash to those Oregon Trail
shareholders who have submitted an Election Form requesting FirstBank Stock as
merger consideration. The final allocation has not been completed. A press
release announcing the results of the allocation will be issued after the
allocation is completed, and shareholders who have made such election will be
informed of their election by letter at that time.
The parties currently anticipate that the merger will be completed after
the close of business on October 31, 2003.
Oregon Trail Financial Corp. is headquartered in Baker City, Oregon and is
the parent of Pioneer Bank, A Federal Savings Bank, which was founded in 1901.
Pioneer Bank operates nine full service office locations in seven Eastern
Oregon counties.
FirstBank NW Corp. is the parent of FirstBank Northwest. Founded in 1920,
FirstBank Northwest is based in Clarkston, Washington, and is known as the
local community bank, offering its customers highly personalized service in
the many communities it serves.
Forward Looking Information
Statements concerning future developments or events, expectations
regarding regulatory approvals, closing of the merger, and any other guidance
on future periods, constitute forward-looking statements which are subject to
a number of risks and uncertainties including government and regulatory
actions, and the satisfaction of merger closing conditions that might cause
actual results to differ materially from stated expectations.
SOURCE FirstBank NW Corp.
 back to top
Related links:
http://www.fbnw.com
CONTACT:
Clyde E. Conklin, President and Chief
Executive Officer of FirstBank NW Corp., +1-509-295-5100; or
Berniel L. Maughan, President and Chief Executive Officer of
Oregon Trail Financial Corp., +1-541-523-6327
|
