FBMI Firstbank Corp. (MM)

Firstbank Corporation Declares Stock Dividend ALMA, Mich., Nov. 23 /PRNewswire-FirstCall/ -- Thomas R. Sullivan, President and Chief Executive Officer of Firstbank Corporation (NASDAQ:FBMI), announced that the Board of Directors has approved a 5% stock dividend which will be paid December 31, 2004 to shareholders of record as of December 17, 2004. Mr. Sullivan stated, "This is the thirteenth consecutive year Firstbank Corporation has declared a 5% stock dividend, which is in addition to the 2 for 1 stock splits issued in 1993 and 1998. While quarter-to-quarter earnings comparisons currently are being affected by the end of the mortgage refinance boom, the stock dividend is consistent with the underlying earnings power of the company and the strong capital position." Sullivan continued, "The Board of Directors is pleased to share these strengths with our shareholders. Additionally, cash dividends, including the effect of stock dividends and splits, have increased at a compound annual growth rate of 10.5% per year over the past five years." Firstbank Corporation, headquartered in Alma, Michigan is currently a five bank financial services company with assets of $799 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 Citizens Bank 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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