ALMA, Mich., Jan. 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 March 15, 2007, to shareholders of record as of February 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 29, 2006, represents a 7.4% increase in dividends per share compared to the year-ago level.
Firstbank Corporation, headquartered in Alma, Michigan is a six bank financial services company with assets of $1.1 billion and 41 banking offices serving Michigan's Lower Peninsula. Bank subsidiaries include: Firstbank -- Alma; Firstbank (Mt. Pleasant); Firstbank -- West Branch; Firstbank -- Lakeview; Firstbank -- St. Johns; and Keystone Community Bank.