ALMA, Mich., Oct. 23, 2007 (PRIME NEWSWIRE) -- Thomas R. Sullivan, President and Chief Executive Officer of Firstbank Corporation (Nasdaq:FBMI), announced today that a $0.225 per share quarterly cash dividend will be paid December 6, 2007, to shareholders of record as of November 23, 2007.
The $0.225 per share cash dividend remains unchanged from the prior quarter. This rate, combined with the 5% stock dividend paid on December 31, 2006, represents a 5% increase in dividends per share compared to the year ago level.
Firstbank Corporation, headquartered in Alma, Michigan, including the July 1, 2007 acquisition of ICNB Financial Corporation, is a seven bank financial services company with assets of $1.4 billion and 52 banking offices serving Michigan's Lower Peninsula. Bank subsidiaries include: Firstbank - Alma; Firstbank (Mt. Pleasant); Firstbank - West Branch; Firstbank - Lakeview; Firstbank - St. Johns; Keystone Community Bank; and Firstbank - West Michigan.