FBMI Firstbank Corp. (MM)

Firstbank Corporation Announces Completion of Self Tender Offer ALMA, Mich., Aug. 5 /PRNewswire-FirstCall/ -- Thomas R. Sullivan, Chief Executive Officer and President of Firstbank Corporation ("Firstbank") (NASDAQ:FBMI) today announced that Firstbank has purchased 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. The shares purchased include 500,000 shares that Firstbank is obligated to purchase under the terms of the offer and an additional 100,000 shares that Firstbank purchased in accordance with the optional purchase provisions of the offer. Firstbank's total cost to purchase the 600,000 shares, excluding fees and expenses incurred in connection with the offer, is $18.0 million. According to the final report 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 has purchased, in most cases, 87.84% of the shares tendered by each of its tendering shareholders. Payment for the purchased shares, and return of certificates for shares not purchased, will commence on or about 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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