Firstbank Corporation Announces Cash Dividend on Common Stock

Firstbank Corporation Announces Cash Dividend on Common Stock

ALMA, Mich., Dec. 11, 2012 (GLOBE NEWSWIRE) -- Thomas R. Sullivan, President
and Chief Executive Officer of Firstbank Corporation (Nasdaq:FBMI), announced
today that a $0.20 per share special cash dividend will be paid December 31,
2012, to common stock shareholders of record as of December 20, 2012. The
$0.20 per share cash dividend will be the 5^th dividend payment in 2012 and
represents an additional amount based on expected earnings for the entire year
of 2012. As stated previously, we maintained a quarterly dividend rate for
2012 of $0.01 per share per quarter, with an additional amount to be
considered following the completion of the year. However, the Board is
declaring the additional amount before the completion of 2012, based on
expected earnings, because of uncertainty over potential changes in tax rates.

The cash dividend on common stock payable on December 31, 2012 will be in
addition to, and will not affect, the dividend that has been previously
declared for payment on December 13, 2012. The Board also determined that it
will next consider a cash dividend at its February 2013 meeting, for payment
in March 2013, and that it intends to return to its former practice of
establishing a regular quarterly cash dividend that reflects the expected
annual earnings of the company, eliminating the once per year special
dividend.

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. Bank
subsidiaries include: Firstbank – Alma; Firstbank (Mt. Pleasant); Firstbank –
West Branch; Keystone Community Bank; and Firstbank – West Michigan.

This press release contains forward-looking statements that involve risks and
uncertainties, for example statements concerning expected earnings and future
dividend dates and amounts. Readers are cautioned not to place undue reliance
on these forward-looking statements, which speak only as of the date of this
press release.

CONTACT: Samuel G. Stone
         Executive Vice President and Chief Financial Officer
         (989) 466-7325
 
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