FBMI Firstbank Corp. (MM)

Firstbank Corporation to Purchase Approximately 600,000 Shares of Outstanding Common Stock Pursuant to Its Self Tender Offer ALMA, Mich., Aug. 2 /PRNewswire-FirstCall/ -- Thomas R. Sullivan, Chief Executive Officer and President of Firstbank Corporation ("Firstbank") (NASDAQ:FBMI) today announced that Firstbank intends to purchase approximately 600,000 of its common shares (representing approximately 10.7% of its shares currently outstanding) at $30.00 per share pursuant to its self tender offer which expired July 30, 2004. Firstbank expects that the total cost to purchase the estimated 600,000 shares, excluding fees and expenses incurred in connection with the offer, will be $18.0 million. According to preliminary reports from the depositary for the offer, the number of shares tendered for purchase under the offer prior to its expiration exceeded the number of shares that Firstbank intends to purchase. Therefore, Firstbank will in most cases purchase approximately 87.7% of the shares tendered by each of its shareholders. Tenders made by certain "odd lot" holders will be purchased in their entirety, and tenders made by certain shareholders who conditioned their tenders will be purchased (or not purchased) in accordance with the procedures set forth in the offer. Payment for the purchased shares, and return of certificates for shares not purchased, is expected to be made commencing August 9, 2004. Any questions with regard to the tender offer may be directed to the depositary for the tender offer, Registrar and Transfer Company at (800) 368- 5948 or the Dealer Manager/Information Agent for the tender offer, Howe Barnes Investments, Inc. at (800) 929-4693. Firstbank may, in the future, purchase additional shares of its common stock pursuant to its previously announced stock repurchase program, although Firstbank and its affiliates are prohibited from purchasing shares until at least August 16, 2004. Firstbank Corporation, headquartered in Alma, Michigan is currently a five bank financial services company with assets of $786 million and 35 banking offices located in central and northeast Michigan. Bank subsidiaries include: Firstbank - Alma; Firstbank (Mt. Pleasant); Firstbank - West Branch; Firstbank - Lakeview; and Firstbank - St. Johns. Other corporate affiliates include 1st Armored, Inc.; 1st Title; Gladwin Land Company, Inc.; and C. A. Hanes Realty, Inc. Investment services are available through affiliations with CB Wealth Management, MML Investors Services, Inc., and Raymond James Financial Services Inc. DATASOURCE: Firstbank Corporation CONTACT: Samuel G. Stone, Executive Vice President and Chief Financial Officer of Firstbank Corporation, +1-989-466-7325 Web site: http://www.firstbank-corp.com/

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