CLARKSTON, Wash. and BAKER CITY, Ore., Oct. 29 /PRNewswire-FirstCall/ --
FirstBank NW Corp. (Nasdaq: FBNW) ("FirstBank") and Oregon Trail Financial
Corp. (Nasdaq: OTFC) ("Oregon Trail") announced today that the pro-rata
allocation percentage stated in the press release issued yesterday has been
revised.
As previously announced, because more Oregon Trail shareholders elected to
receive stock of FirstBank than was available, and pursuant to the allocation
procedures set forth in the Merger Agreement, these shareholders would also
receive cash as consideration for the Oregon Trail shares they own.
Specifically, each Oregon Trail shareholder who submitted a valid election for
stock consideration will receive 48.27990% stock (multiplied by the exchange
ratio of 1.021 less any fractional share interest of FirstBank common stock
paid at a rate of $28.16 per share) and 51.72010% cash paid at a rate of
$22.00 per share for each share of Oregon Trail common stock they own.
Statements contained in this news release which are not historical facts
are forward-looking statements, as that term is defined in the Private
Securities Litigation Reform Act of 1995. Such forward-looking statements are
subject to risks and uncertainties which could cause actual results to differ
materially from those currently anticipated due to a number of factors, which
include, but are not limited to, factors discussed in documents filed by
FirstBank with the Securities and Exchange Commission.
SOURCE FirstBank NW Corp.
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Related links:
http://www.fbnw.com
CONTACT:
Clyde E. Conklin, President and Chief
Executive Officer of FirstBank NW Corp., +1-509-295-5100
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