FBNW Firstbank NW

FirstBank NW Corp. Appoints Powell to Its Board of Directors, and FirstBank Northwest, Its Wholly Owned Subsidiary, Appoints Powell and Reuling to Its Board of Directors 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, 2004. 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, 2004. 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. DATASOURCE: FirstBank NW Corp. CONTACT: Larry K. Moxley, Exec. VP & CFO of FIRSTBANK NW CORP., +1-509-295-5100 Web site: http://www.fbnw.com/

Copyright