CLARKSTON, Wash., Dec. 16 /PRNewswire-FirstCall/ -- FirstBank NW Corp.
(Nasdaq: FBNW), today announced the appointment of Sandra T. Powell to its
Board of Directors and to the Board of Directors of FirstBank Northwest, its
wholly owned banking subsidiary. Ms. Powell was also appointed to serve on
the audit committee of the Board of Directors of FirstBank NW Corp. and
FirstBank Northwest. Mr. Michael F. Reuling was appointed to serve on the
Board of Directors of FirstBank Northwest. Ms. Powell and Mr. Reuling will
replace retiring bank board members, Mr. Robert S. Coleman and Mr. William J.
Larson; and Ms. Powell will replace Mr. Coleman on the holding company board.
Messrs. Coleman and Larson will serve on the Board of Directors of FirstBank
Northwest and FirstBank NW Corp. until March 31, 2005. The Board of Directors
has authorized additional board positions on a temporary basis in order to
accommodate the overlapping time frames.
Board Chairman, Steve R. Cox noted that the additions accommodate the
Board's objectives of geographic diversification within the Bank's market area
and the fulfillment of an audit committee financial expert under the
Sarbanes-Oxley Act.
Ms. Powell's term will begin January 1, 2005. She is a resident of
Spokane, Washington and retired from Potlatch Corporation as Chief Financial
Officer in March 2000. Ms. Powell has also served in various executive
management roles responsible for financial services, treasurer, investor
relations, and budgeting for Potlatch Corporation.
Mr. Reuling's term will begin 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.
"Ms. Powell and Mr. Reuling will bring knowledge to the Board from
Spokane, Washington and Boise, Idaho, which are key market areas for our
Bank", said Clyde E. Conklin, President and Chief Executive Officer. Chairman
Cox recognized the contribution of Directors Coleman and Larson, "Mr. Coleman
has served on the Board of Directors since January 1978, and Mr. Larson since
January 1973. They have served our shareholders and our customers during a
time of rapid change for FirstBank. We thank them and wish them well in their
retirement."
FirstBank NW Corp. is the parent of FirstBank Northwest. Founded in 1920,
FirstBank Northwest is based in Clarkston, Washington. FirstBank Northwest
operates 20 branch locations in northern Idaho along the Idaho/Washington
border and in eastern Oregon, in addition to residential loan centers in
Lewiston, Coeur d'Alene, Boise and Nampa, Idaho, Spokane, Washington, and
Baker City, Oregon. Salomon Smith Barney has investment centers in
FirstBank's Coeur d'Alene, Idaho, Clarkston and Liberty Lake, Washington, and
Baker City, LaGrande, Pendleton and Ontario, Oregon branches. FirstBank
Northwest is known as the local community bank, offering its customers highly
personalized service in the many communities it serves.
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 FirstBank operates,
projections of future performance, including operating efficiencies, perceived
opportunities in the market, potential future credit experience and statements
regarding FirstBank's mission and vision. These forward-looking statements
are based upon current management expectations, and may, therefore, involve
risks and uncertainties. FirstBank'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,
FirstBank's ability to successfully integrate the business of Oregon Trail,
the realization of expected cost savings or accretion to earnings because of
the acquisition of Oregon Trail, competitive conditions between banks and
non-bank financial service providers, regulatory changes, and other risks
detailed in the Company's reports filed with the Securities and Exchange
Commission, including its Annual Report on From 10-KSB for the fiscal year
ended March 31, 2004.
SOURCE FirstBank NW Corp.
 back to top
Related links:
http://www.fbnw.com
CONTACT:
Larry K. Moxley, Exec. VP & CFO of FIRSTBANK
NW CORP., +1-509-295-5100
|
