FirstBank NW Corp. Net Interest Income Up 7% to $8.8 Million for Fiscal 2001; Assets Gain 13.4%, Net Loans Rise 16.8% and Deposits Increase 9%; Declares Regular Quarterly Cash Dividend of $.10 per Share

Apr 24, 2001, 01:00 ET from FirstBank NW Corp.

    LEWISTON, Idaho, April 24 /PRNewswire Interactive News Release/ --
 FirstBank NW Corp. (Nasdaq:   FBNW), the holding company for FirstBank
 Northwest, today reported fiscal year 2001 was highlighted by continued
 growth, loan portfolio diversification, and achievement of net income
 performance expectations.
     Net interest margin was $8.8 million for the twelve months ended
 March 31, 2001, compared to $8.3 million in fiscal 2000.  Improved net
 interest margin and higher non-interest income generated $1.88 million in net
 income for fiscal 2001 compared to $1.7 for fiscal 2000; a growth rate of
 10.4%.  Fully diluted per share income for fiscal 2001 is $1.30 per share
 compared to $1.06 per share for fiscal 2000; an increase of 22.6%.
     For the fourth quarter, net interest income was $2.3 million, compared to
 $2 million in the like quarter a year ago.  FirstBank earned $476,000, or
 $.33 per diluted share, in the fourth quarter, compared to $382,000, or
 $.25 per diluted share, in the like quarter a year ago.
     On April 19, 2001, the Board of Directors for FirstBank NW Corp. declared
 a regular quarterly cash dividend of $.10 per common share.  The dividend will
 be paid on May 30, 2001 to shareholders of record as of May 16, 2001.  This is
 the fifteenth consecutive regular quarterly cash dividend since FirstBank's
 conversion to the stock form of ownership in July 1997.  Including this
 dividend to be paid, total dividend payout is $.39 per share, or 30% of the
 diluted earnings of $1.30 per share.
     "This year presented a number of challenges including compression of net
 interest margins due to the volatile interest rate market, an inverted rate
 curve during most of the year, deposit growth challenges, and a softening
 economic environment," said Clyde E. Conklin, President and Chief Executive
 Officer.  "Considering those challenges, we feel good about our asset growth
 of 13.4%, loan growth of 16.8%, deposit growth of 9%, a net interest margin of
 3.83%, and net earnings per share growth of 22.4%."
     "We continue to diversify our loan portfolio to reflect that of a
 commercial bank", said Larry K. Moxley, Executive Vice President and Chief
 Financial Officer.  "Commercial and agricultural loans now reflect 47% of our
 total loan portfolio as compared to 42% a year ago, and net loan growth was
 16.8% for the year" said Moxley.
     "Our branch deposits grew from $144.9 million to $157.8 million during the
 year, which is an 8.9% growth rate.  Core deposits for checking, money market,
 and savings totaled 43.0% of deposits at year-end compared to 45.3% last year.
 Increasing core deposit funding is a key strategy going forward," said Moxley.
 "We continue to diversify our funding utilizing Federal Home Loan Bank
 borrowings, as well as national deposit markets."
     "Asset quality remains very good and is a high priority given the economic
 slowing we see in the area," continued Conklin.  "The impact of increased
 energy costs are yet to be fully realized within the economy.  Allowances for
 loan losses increased to $1.7 million from $1.6 million last year."
     Non performing assets as a percent of total assets were .53% at
 March 31, 2001 compared to .33% a year ago.  Loan loss allowances to
 non-performing loans has decreased to 121.8% from 275.1% last year.
 Non-performing assets have increased from $825,000 on March 31, 2000 to
 $1,476,000 on March 31, 2001, however they have decreased $289,000 since
 December 31, 2000.  "We anticipate continued pressure on asset quality over
 the next year," noted Conklin.  "We continue to assess asset quality on a
 regular basis."
     Non-interest income increased slightly to $2.6 million from $2.4 million
 for March 31, 2001 and March 31, 2000, respectively.  Gain on sale of
 residential real estate loans remained slightly down from the previous year,
 however the Merchant Visa product generated substantial new fee income in its
 first full year offering.
     "It is important to note that we made significant investments during
 previous years to support future growth, which included upgraded technology
 and staffing new branches.  Those investments caused non-interest expense for
 the year to rise to $8.7 million compared to $8.2 million in fiscal 2000,"
 Conklin added.  "The investments are in place and are operating effectively,
 therefore more effort can be focused on attaining the efficiencies
 anticipated," Conklin continued.  "The ratio of operating expense to average
 assets has decreased to 3.3% from 3.6% last year.  Conversely, the decrease in
 efficiency ratio to 71.8% from 72.6% is understated because of the net
 interest margin compression experienced this past year."
     FirstBank NW Corp.'s assets increased 13.4% to $281.1 million at
 March 31, 2001, from $247.9 million a year ago.  Including the result of stock
 repurchases and investments for future growth, stockholders' equity was
 $28.0 million compared to $25.9 million last year.  The equity to asset ratio
 was 9.9% at March 31, 2001 compared to 10.4% one year ago.  Tangible book
 value increased to $19.39 per share compared to $17.30 per share a year ago.
 At its closing stock price of $13.60 on April 24, shares were selling at just
 71% of tangible book value.
     "We expect the investments made over the past several quarters to have a
 positive impact in the upcoming year," Conklin said.  "Our confidence in the
 long-term outlook and value of FirstBank is evidenced in our consistent
 dividend payments and stock buyback programs.  Just last week, the Board
 declared the fifteenth consecutive regular quarterly cash dividend since our
 conversion to the stock form of ownership in July 1997.  Since July 1998, we
 have completed repurchases totaling 26%, or 512,467 of FBNW shares, of which
 4% has been reissued to fund stock benefit plans, for a net repurchase of
 18%.  Stock repurchases are reviewed on a regular basis."
     FirstBank NW Corp. is the parent of FirstBank Northwest.  Founded in
 1920, FirstBank Northwest is based in Lewiston, Idaho.  FirstBank Northwest
 operates eight branch locations in northern Idaho and along the
 Idaho/Washington border, in addition to residential loan centers in Lewiston
 and Coeur d'Alene, Idaho.  Salomon Smith Barney has investment centers in
 FirstBank's downtown Lewiston, Coeur d'Alene and Liberty Lake branches.
 FirstBank Northwest is known as the local community bank, offering its
 customers highly personalized service in the many communities it serves.
     Statements concerning future performance, developments or events,
 concerning expectations regarding expansion opportunities, technology
 efficiencies, new products and services, and any other guidance on future
 periods, constitute forward-looking statements which are subject to a number
 of risks and uncertainties including interest rate fluctuations, regional
 economic conditions, competitive factors, and government and regulatory
 actions that might cause actual results to differ materially from stated
 expectations.
 
 
                                 FIRSTBANK NW CORP
 
     FINANCIAL HIGHLIGHTS
     (unaudited)  (in thousands except share and per share data)
 
                                           Three Months         Twelve Months
                                             Ending                Ending
                                            March 31,             March 31,
                                         2001       2000       2001       2000
     Interest Income                   $5,402     $4,485    $20,757    $16,979
     Interest Expense                   3,000      2,342     11,617      8,437
     Provision for Loan Losses             94         74        303        287
     Net Interest Income After
      Provision for
      Loan Losses                       2,308      2,069      8,837      8,255
 
     Non-Interest Income
       Gain on sale of loans              198        173        843      1,051
       Mortgage Servicing Fees             91         67        272        271
       Service fees and charges           360        258      1,349      1,000
       Commission and other                41         28        130        104
     Total Non-Interest Income            690        526      2,594      2,426
 
     Non-Interest Expenses
       Compensation and Related
        Expenses                        1,370      1,129      5,077      4,674
       Occupancy                          313        295      1,237      1,132
       Other                              596        556      2,369      2,352
     Total Non-Interest Expense         2,279      1,980      8,683      8,158
 
     Income Tax Expense                   243        233        866        818
     Net Income                          $476       $382     $1,882     $1,705
 
     Basic Earnings per Share           $0.34      $0.26      $1.34      $1.11
     Diluted Earnings per Share         $0.33      $0.25      $1.30      $1.06
     Proforma Basic Cash Earnings
      per Share (A)                     $0.37      $0.29      $1.44      $1.20
     Proforma Diluted Cash Earnings
      per Share (A)                     $0.36      $0.28      $1.40      $1.15
     Weighted Average Shares
      Outstanding - Basic           1,396,834  1,446,876  1,404,935  1,535,137
     Weighted Average Shares
      Outstanding - Diluted         1,441,684  1,510,356  1,447,966  1,606,586
     Actual Shares Outstanding      1,546,953  1,616,077  1,546,953  1,616,077
 
                                                   March 31,         March 31,
                                                     2001               2000
     Total Assets                                  $281,062          $247,898
     Loans Receivable, net                          219,151           187,664
     Mortgage-Backed Securities                      20,039            21,225
     Investment Securities                           12,568            11,335
     Deposits                                       157,797           144,907
     FHLB Advances & Other Borrowings                90,917            74,578
     Stockholders' Equity                            27,976            25,866
     Book Value per Share (B)                        $19.39            $17.30
     FASB 115 Adjustment after Taxes                    600              (548)
     Equity/ Total Assets                             9.95%            10.43%
     Tier 1 Capital to Average Assets                 9.40%            10.00%
     Risk-based Capital to Risk-Weighted
      Assets                                         14.77%            13.10%
 
     Number of full-time Equivalent
      Employees                                         113               111
 
      (A) Cash earnings per share exclude MRDP expense that will continue
          until September of 2003
      (B) Calculation is based on number of shares outstanding at the end of
          the period rather than weighted average shares outstanding and
          excludes unallocated  shares in the employee stock ownership plan
          (ESOP) 3/01 -- 104,225 shares, 3/00 -- 119,705 shares
 
 
     FINANCIAL STATISTICS
     (ratios annualized)
                                              Three Months      Twelve Months
                                                  Ended             Ended
                                                March 31,         March 31,
                                              2001     2000     2001     2000
     Return on Average Assets                 0.68%    0.64%    0.71%    0.75%
     Return on Average Equity                 6.86%    5.92%    7.07%    6.36%
     Average Equity/Average Assets            9.94%   10.76%   10.00%   11.82%
     Average Equity/Average Loans            12.89%   14.23%   13.01%   15.11%
     Efficiency Ratio                        71.44%   71.73%   71.82%   72.64%
         (operating expenses / FTE revenue)
     Operating Expenses / Average Assets      3.27%    3.30%    3.27%    3.60%
     Net Interest Margin                      3.82%    4.00%    3.83%    4.16%
     Interest Earning Assets / Interest
      Bearing Liabilities                   106.02%  106.01%  104.52%  107.95%
 
 
                                                Twelve Months     Twelve Months
                                                    Ending            Ending
                                                   March 31,         March 31,
                                                     2001              2000
     LOANS
     (unaudited)  (in thousands except
      share and per share data)
 
     LOAN ORIGINATIONS:
       Residential loan centers                     $70,175           $77,646
       Consumer loan centers                         17,287            18,859
       Agricultural loan centers                     22,011            15,155
       Commercial loan centers                       58,933            41,764
           Total Loan Origination                  $168,406          $153,424
 
     LOAN PORTFOLIO ANALYSIS:
     Real estate loans:
       Residential                                  $74,892           $71,796
       Construction                                   8,028             7,819
       Agricultural                                  15,383            16,003
       Commercial                                    37,969            24,988
          Total real estate loans                   136,272           120,606
 
     Consumer and other loans:
       Home equity                                   27,323            24,626
       Agricultural operating                        10,938             7,467
       Commercial                                    41,789            32,800
       Other consumer                                 8,255             7,533
          Total consumer and other loans             88,305            72,426
     Total Loans Receivable                        $224,577          $193,032
 
 
                                                 Twelve Months    Twelve Months
                                                     Ending            Ending
                                                    March 31,         March 31,
                                                      2001              2000
     ALLOWANCE FOR LOAN LOSSES:
     Balance at Beginning of Period                  $1,604            $1,361
     Provision for Loan Losses                          303               287
     Charge offs (Net of Recoveries)                    149                44
     Balance at End of Period                        $1,758            $1,604
     Loan Loss Allowance / Net Loans                  0.80%            85.00%
     Loan Loss Allowance / Non-Performing
      Loans                                         121.83%           275.13%
 
 
     NON-PERFORMING ASSETS:
                                                Twelve Months     Twelve Months
                                                     Ending            Ending
                                                    March 31,         March 31,
                                                      2001              2000
     Accruing Loans - 90 Days Past Due                 $282                $0
     Non-accrual Loans                                1,161               583
     Total Non-performing Loans                       1,443               583
     Restructured Loans on Accrual                        0               198
     Real Estate Owned (REO)                             33                44
     Total Non-performing Assets                     $1,476              $825
     Total Non-performing Assets/Total
      Assets                                          0.53%            33.00%
     Loan and REO Loss Allowance as a % of
      Non-Performing Assets                         119.11%           194.42%
 
 
     AVERAGE BALANCES, INTEREST AVERAGE YIELDS/COSTS
 
                                           Three Months        Twelve Months
                                               Ended               Ended
                                             March 31,           March 31,
                                           2001      2000      2001      2000
 
     Average Interest Earning Assets:
     Average Loans receivable:
     Average Mortgage Loans receivable   $73,204   $70,737   $72,629   $70,306
     Average Commercial Loans
      receivable                          76,993    53,081    66,492    47,301
     Average Construction Loans
      receivable                           5,223     5,131     5,485     6,806
     Average Consumer Loans receivable    35,340    31,203    34,677    29,454
     Average Agricultural Loans
      receivable                          26,437    23,076    27,258    25,178
     Average unearned loan fees and
      discounts,allowance for loan
      losses, and other                   (2,155)   (1,942)   (2,095)   (1,700)
     Total Average Loans receivable,net  215,042   181,286   204,446   177,345
     Average Mortgage-backed securities   20,005    21,295    20,279    15,874
     Average Investment securities        12,457    11,177    11,901     8,437
     Average Other earning assets         14,220     9,959    11,479    10,482
     Total Average Interest Earning
      Assets                             261,724   223,717   248,105   212,138
     Average Non-Interest Earning
      Assets                              17,210    16,144    17,802    14,561
     Total Average Assets               $278,934  $239,861  $265,907  $226,699
 
     Average Interest Bearing
      Liabilities:
     Average Passbook, NOW, and money
      market accounts                    $62,758   $61,109   $63,486   $62,230
     Average Certificate of deposits      91,705    81,887    83,670    80,039
     Average Advances from FHLB and
      other                               92,406    68,040    88,747    54,242
     Total Average Interest Bearing
      Liabilities                        246,869   211,036   235,903   196,511
     Average Non-Interest Bearing
      Liabilities                          4,337     3,027     3,408     3,393
     Total Average Liabilities           251,206   214,063   239,311   199,904
     Total Average Equity                 27,728    25,798    26,596    26,795
     Total Average Liabilities and
      Equity                            $278,934  $239,861  $265,907  $226,699
 
     Interest Rate Yield on Earning
      Assets                               8.41%     8.18%     8.51%     8.13%
     Interest Rate Expense on Interest
      Bearing Liabilities                  4.86%     4.44%     4.92%     4.29%
     Interest Rate Spread                  3.55%     3.74%     3.59%     3.84%
     Net Interest Margin                   3.82%     4.00%     3.83%     4.16%
 
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SOURCE FirstBank NW Corp.
    LEWISTON, Idaho, April 24 /PRNewswire Interactive News Release/ --
 FirstBank NW Corp. (Nasdaq:   FBNW), the holding company for FirstBank
 Northwest, today reported fiscal year 2001 was highlighted by continued
 growth, loan portfolio diversification, and achievement of net income
 performance expectations.
     Net interest margin was $8.8 million for the twelve months ended
 March 31, 2001, compared to $8.3 million in fiscal 2000.  Improved net
 interest margin and higher non-interest income generated $1.88 million in net
 income for fiscal 2001 compared to $1.7 for fiscal 2000; a growth rate of
 10.4%.  Fully diluted per share income for fiscal 2001 is $1.30 per share
 compared to $1.06 per share for fiscal 2000; an increase of 22.6%.
     For the fourth quarter, net interest income was $2.3 million, compared to
 $2 million in the like quarter a year ago.  FirstBank earned $476,000, or
 $.33 per diluted share, in the fourth quarter, compared to $382,000, or
 $.25 per diluted share, in the like quarter a year ago.
     On April 19, 2001, the Board of Directors for FirstBank NW Corp. declared
 a regular quarterly cash dividend of $.10 per common share.  The dividend will
 be paid on May 30, 2001 to shareholders of record as of May 16, 2001.  This is
 the fifteenth consecutive regular quarterly cash dividend since FirstBank's
 conversion to the stock form of ownership in July 1997.  Including this
 dividend to be paid, total dividend payout is $.39 per share, or 30% of the
 diluted earnings of $1.30 per share.
     "This year presented a number of challenges including compression of net
 interest margins due to the volatile interest rate market, an inverted rate
 curve during most of the year, deposit growth challenges, and a softening
 economic environment," said Clyde E. Conklin, President and Chief Executive
 Officer.  "Considering those challenges, we feel good about our asset growth
 of 13.4%, loan growth of 16.8%, deposit growth of 9%, a net interest margin of
 3.83%, and net earnings per share growth of 22.4%."
     "We continue to diversify our loan portfolio to reflect that of a
 commercial bank", said Larry K. Moxley, Executive Vice President and Chief
 Financial Officer.  "Commercial and agricultural loans now reflect 47% of our
 total loan portfolio as compared to 42% a year ago, and net loan growth was
 16.8% for the year" said Moxley.
     "Our branch deposits grew from $144.9 million to $157.8 million during the
 year, which is an 8.9% growth rate.  Core deposits for checking, money market,
 and savings totaled 43.0% of deposits at year-end compared to 45.3% last year.
 Increasing core deposit funding is a key strategy going forward," said Moxley.
 "We continue to diversify our funding utilizing Federal Home Loan Bank
 borrowings, as well as national deposit markets."
     "Asset quality remains very good and is a high priority given the economic
 slowing we see in the area," continued Conklin.  "The impact of increased
 energy costs are yet to be fully realized within the economy.  Allowances for
 loan losses increased to $1.7 million from $1.6 million last year."
     Non performing assets as a percent of total assets were .53% at
 March 31, 2001 compared to .33% a year ago.  Loan loss allowances to
 non-performing loans has decreased to 121.8% from 275.1% last year.
 Non-performing assets have increased from $825,000 on March 31, 2000 to
 $1,476,000 on March 31, 2001, however they have decreased $289,000 since
 December 31, 2000.  "We anticipate continued pressure on asset quality over
 the next year," noted Conklin.  "We continue to assess asset quality on a
 regular basis."
     Non-interest income increased slightly to $2.6 million from $2.4 million
 for March 31, 2001 and March 31, 2000, respectively.  Gain on sale of
 residential real estate loans remained slightly down from the previous year,
 however the Merchant Visa product generated substantial new fee income in its
 first full year offering.
     "It is important to note that we made significant investments during
 previous years to support future growth, which included upgraded technology
 and staffing new branches.  Those investments caused non-interest expense for
 the year to rise to $8.7 million compared to $8.2 million in fiscal 2000,"
 Conklin added.  "The investments are in place and are operating effectively,
 therefore more effort can be focused on attaining the efficiencies
 anticipated," Conklin continued.  "The ratio of operating expense to average
 assets has decreased to 3.3% from 3.6% last year.  Conversely, the decrease in
 efficiency ratio to 71.8% from 72.6% is understated because of the net
 interest margin compression experienced this past year."
     FirstBank NW Corp.'s assets increased 13.4% to $281.1 million at
 March 31, 2001, from $247.9 million a year ago.  Including the result of stock
 repurchases and investments for future growth, stockholders' equity was
 $28.0 million compared to $25.9 million last year.  The equity to asset ratio
 was 9.9% at March 31, 2001 compared to 10.4% one year ago.  Tangible book
 value increased to $19.39 per share compared to $17.30 per share a year ago.
 At its closing stock price of $13.60 on April 24, shares were selling at just
 71% of tangible book value.
     "We expect the investments made over the past several quarters to have a
 positive impact in the upcoming year," Conklin said.  "Our confidence in the
 long-term outlook and value of FirstBank is evidenced in our consistent
 dividend payments and stock buyback programs.  Just last week, the Board
 declared the fifteenth consecutive regular quarterly cash dividend since our
 conversion to the stock form of ownership in July 1997.  Since July 1998, we
 have completed repurchases totaling 26%, or 512,467 of FBNW shares, of which
 4% has been reissued to fund stock benefit plans, for a net repurchase of
 18%.  Stock repurchases are reviewed on a regular basis."
     FirstBank NW Corp. is the parent of FirstBank Northwest.  Founded in
 1920, FirstBank Northwest is based in Lewiston, Idaho.  FirstBank Northwest
 operates eight branch locations in northern Idaho and along the
 Idaho/Washington border, in addition to residential loan centers in Lewiston
 and Coeur d'Alene, Idaho.  Salomon Smith Barney has investment centers in
 FirstBank's downtown Lewiston, Coeur d'Alene and Liberty Lake branches.
 FirstBank Northwest is known as the local community bank, offering its
 customers highly personalized service in the many communities it serves.
     Statements concerning future performance, developments or events,
 concerning expectations regarding expansion opportunities, technology
 efficiencies, new products and services, and any other guidance on future
 periods, constitute forward-looking statements which are subject to a number
 of risks and uncertainties including interest rate fluctuations, regional
 economic conditions, competitive factors, and government and regulatory
 actions that might cause actual results to differ materially from stated
 expectations.
 
 
                                 FIRSTBANK NW CORP
 
     FINANCIAL HIGHLIGHTS
     (unaudited)  (in thousands except share and per share data)
 
                                           Three Months         Twelve Months
                                             Ending                Ending
                                            March 31,             March 31,
                                         2001       2000       2001       2000
     Interest Income                   $5,402     $4,485    $20,757    $16,979
     Interest Expense                   3,000      2,342     11,617      8,437
     Provision for Loan Losses             94         74        303        287
     Net Interest Income After
      Provision for
      Loan Losses                       2,308      2,069      8,837      8,255
 
     Non-Interest Income
       Gain on sale of loans              198        173        843      1,051
       Mortgage Servicing Fees             91         67        272        271
       Service fees and charges           360        258      1,349      1,000
       Commission and other                41         28        130        104
     Total Non-Interest Income            690        526      2,594      2,426
 
     Non-Interest Expenses
       Compensation and Related
        Expenses                        1,370      1,129      5,077      4,674
       Occupancy                          313        295      1,237      1,132
       Other                              596        556      2,369      2,352
     Total Non-Interest Expense         2,279      1,980      8,683      8,158
 
     Income Tax Expense                   243        233        866        818
     Net Income                          $476       $382     $1,882     $1,705
 
     Basic Earnings per Share           $0.34      $0.26      $1.34      $1.11
     Diluted Earnings per Share         $0.33      $0.25      $1.30      $1.06
     Proforma Basic Cash Earnings
      per Share (A)                     $0.37      $0.29      $1.44      $1.20
     Proforma Diluted Cash Earnings
      per Share (A)                     $0.36      $0.28      $1.40      $1.15
     Weighted Average Shares
      Outstanding - Basic           1,396,834  1,446,876  1,404,935  1,535,137
     Weighted Average Shares
      Outstanding - Diluted         1,441,684  1,510,356  1,447,966  1,606,586
     Actual Shares Outstanding      1,546,953  1,616,077  1,546,953  1,616,077
 
                                                   March 31,         March 31,
                                                     2001               2000
     Total Assets                                  $281,062          $247,898
     Loans Receivable, net                          219,151           187,664
     Mortgage-Backed Securities                      20,039            21,225
     Investment Securities                           12,568            11,335
     Deposits                                       157,797           144,907
     FHLB Advances & Other Borrowings                90,917            74,578
     Stockholders' Equity                            27,976            25,866
     Book Value per Share (B)                        $19.39            $17.30
     FASB 115 Adjustment after Taxes                    600              (548)
     Equity/ Total Assets                             9.95%            10.43%
     Tier 1 Capital to Average Assets                 9.40%            10.00%
     Risk-based Capital to Risk-Weighted
      Assets                                         14.77%            13.10%
 
     Number of full-time Equivalent
      Employees                                         113               111
 
      (A) Cash earnings per share exclude MRDP expense that will continue
          until September of 2003
      (B) Calculation is based on number of shares outstanding at the end of
          the period rather than weighted average shares outstanding and
          excludes unallocated  shares in the employee stock ownership plan
          (ESOP) 3/01 -- 104,225 shares, 3/00 -- 119,705 shares
 
 
     FINANCIAL STATISTICS
     (ratios annualized)
                                              Three Months      Twelve Months
                                                  Ended             Ended
                                                March 31,         March 31,
                                              2001     2000     2001     2000
     Return on Average Assets                 0.68%    0.64%    0.71%    0.75%
     Return on Average Equity                 6.86%    5.92%    7.07%    6.36%
     Average Equity/Average Assets            9.94%   10.76%   10.00%   11.82%
     Average Equity/Average Loans            12.89%   14.23%   13.01%   15.11%
     Efficiency Ratio                        71.44%   71.73%   71.82%   72.64%
         (operating expenses / FTE revenue)
     Operating Expenses / Average Assets      3.27%    3.30%    3.27%    3.60%
     Net Interest Margin                      3.82%    4.00%    3.83%    4.16%
     Interest Earning Assets / Interest
      Bearing Liabilities                   106.02%  106.01%  104.52%  107.95%
 
 
                                                Twelve Months     Twelve Months
                                                    Ending            Ending
                                                   March 31,         March 31,
                                                     2001              2000
     LOANS
     (unaudited)  (in thousands except
      share and per share data)
 
     LOAN ORIGINATIONS:
       Residential loan centers                     $70,175           $77,646
       Consumer loan centers                         17,287            18,859
       Agricultural loan centers                     22,011            15,155
       Commercial loan centers                       58,933            41,764
           Total Loan Origination                  $168,406          $153,424
 
     LOAN PORTFOLIO ANALYSIS:
     Real estate loans:
       Residential                                  $74,892           $71,796
       Construction                                   8,028             7,819
       Agricultural                                  15,383            16,003
       Commercial                                    37,969            24,988
          Total real estate loans                   136,272           120,606
 
     Consumer and other loans:
       Home equity                                   27,323            24,626
       Agricultural operating                        10,938             7,467
       Commercial                                    41,789            32,800
       Other consumer                                 8,255             7,533
          Total consumer and other loans             88,305            72,426
     Total Loans Receivable                        $224,577          $193,032
 
 
                                                 Twelve Months    Twelve Months
                                                     Ending            Ending
                                                    March 31,         March 31,
                                                      2001              2000
     ALLOWANCE FOR LOAN LOSSES:
     Balance at Beginning of Period                  $1,604            $1,361
     Provision for Loan Losses                          303               287
     Charge offs (Net of Recoveries)                    149                44
     Balance at End of Period                        $1,758            $1,604
     Loan Loss Allowance / Net Loans                  0.80%            85.00%
     Loan Loss Allowance / Non-Performing
      Loans                                         121.83%           275.13%
 
 
     NON-PERFORMING ASSETS:
                                                Twelve Months     Twelve Months
                                                     Ending            Ending
                                                    March 31,         March 31,
                                                      2001              2000
     Accruing Loans - 90 Days Past Due                 $282                $0
     Non-accrual Loans                                1,161               583
     Total Non-performing Loans                       1,443               583
     Restructured Loans on Accrual                        0               198
     Real Estate Owned (REO)                             33                44
     Total Non-performing Assets                     $1,476              $825
     Total Non-performing Assets/Total
      Assets                                          0.53%            33.00%
     Loan and REO Loss Allowance as a % of
      Non-Performing Assets                         119.11%           194.42%
 
 
     AVERAGE BALANCES, INTEREST AVERAGE YIELDS/COSTS
 
                                           Three Months        Twelve Months
                                               Ended               Ended
                                             March 31,           March 31,
                                           2001      2000      2001      2000
 
     Average Interest Earning Assets:
     Average Loans receivable:
     Average Mortgage Loans receivable   $73,204   $70,737   $72,629   $70,306
     Average Commercial Loans
      receivable                          76,993    53,081    66,492    47,301
     Average Construction Loans
      receivable                           5,223     5,131     5,485     6,806
     Average Consumer Loans receivable    35,340    31,203    34,677    29,454
     Average Agricultural Loans
      receivable                          26,437    23,076    27,258    25,178
     Average unearned loan fees and
      discounts,allowance for loan
      losses, and other                   (2,155)   (1,942)   (2,095)   (1,700)
     Total Average Loans receivable,net  215,042   181,286   204,446   177,345
     Average Mortgage-backed securities   20,005    21,295    20,279    15,874
     Average Investment securities        12,457    11,177    11,901     8,437
     Average Other earning assets         14,220     9,959    11,479    10,482
     Total Average Interest Earning
      Assets                             261,724   223,717   248,105   212,138
     Average Non-Interest Earning
      Assets                              17,210    16,144    17,802    14,561
     Total Average Assets               $278,934  $239,861  $265,907  $226,699
 
     Average Interest Bearing
      Liabilities:
     Average Passbook, NOW, and money
      market accounts                    $62,758   $61,109   $63,486   $62,230
     Average Certificate of deposits      91,705    81,887    83,670    80,039
     Average Advances from FHLB and
      other                               92,406    68,040    88,747    54,242
     Total Average Interest Bearing
      Liabilities                        246,869   211,036   235,903   196,511
     Average Non-Interest Bearing
      Liabilities                          4,337     3,027     3,408     3,393
     Total Average Liabilities           251,206   214,063   239,311   199,904
     Total Average Equity                 27,728    25,798    26,596    26,795
     Total Average Liabilities and
      Equity                            $278,934  $239,861  $265,907  $226,699
 
     Interest Rate Yield on Earning
      Assets                               8.41%     8.18%     8.51%     8.13%
     Interest Rate Expense on Interest
      Bearing Liabilities                  4.86%     4.44%     4.92%     4.29%
     Interest Rate Spread                  3.55%     3.74%     3.59%     3.84%
     Net Interest Margin                   3.82%     4.00%     3.83%     4.16%
 
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 SOURCE  FirstBank NW Corp.

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