ALMA, Mich., Jan. 29, 2013 (GLOBE NEWSWIRE) -- Thomas R. Sullivan, President and Chief Executive Officer of Firstbank Corporation (Nasdaq:FBMI), announced today that the Board of Directors declared the specified quarterly cash dividend at the annual rate of 5% on its Series A Preferred Stock. The dividend amounts to $12.50 per $1,000 liquidation value share and is to be paid February 15, 2013, to Series A Preferred stockholders of record as of January 31, 2013.
As previously announced, the Board will next consider a cash dividend on common stock at its February, 2013, meeting for payment in March of 2013.
Firstbank Corporation, headquartered in Alma, Michigan, is a bank holding company using a community bank local decision-making format with assets of $1.5 billion and 51 banking offices serving Michigan's Lower Peninsula.
CONTACT: Samuel G. Stone Executive Vice President and Chief Financial Officer (989) 466-7325
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