U.S. SECURITIES AND EXCHANGE COMMISSION
                             Washington, D.C. 20549
                                   FORM 10-QSB

                                   (Mark One)

    [X] Quarterly report under Section 13 or 15(d) of the Securities Exchange
                                   Act of 1934

                For the quarterly period ended December 31, 1999


    [ ] Transition report under Section 13 or 15(d) of the Exchange Act

       For the transition period from _______________ to ________________

                         Commission file number 0-22435

                               FIRSTBANK NW CORP.

        (Exact Name of Small Business Issuer as Specified in Its Charter)

                 Washington                                  84-1389562
       (State or Other Jurisdiction of                   (I.R.S. Employer
       Incorporation or Organization)                   Identification No.)

                       920 Main Street, Lewiston, ID 83501
                     Address of Principal Executive Offices

                                 (208) 746-9610
                (Issuer's Telephone Number, Including Area Code)

   (Former Name, Former Address and Former Fiscal Year, If Changed Since Last
                                     Report)

Check whether the issuer: (1) filed all reports required to be filed by Section
13 or 15(d) of the  Exchange  Act during the past 12 months (or for such shorter
period that the registrant was required to file such reports),  and (2) has been
subject to such filing requirements for the past 90 days.

      [X] Yes         [ ] No


                      APPLICABLE ONLY TO CORPORATE ISSUERS

State the number of shares outstanding of each of the issuer's classes of common
equity  as of  the  latest  practicable  date:  Common  Stock  1,633,535  shares
outstanding on February 10, 2000.

Transitional Small Business Disclosure Format (check one):

      [ ] Yes         [X] No

<PAGE>

                               FIRSTBANK NW CORP.
                                TABLE OF CONTENTS


PART I.  FINANCIAL INFORMATION

Item 1.    Financial Statements                                             Page

       Consolidated Statements of Financial Condition
           As of December 31, 1999 and March 31, 1999                          1
       Consolidated Statements of Income
           For the three months and nine months ended
           December 31, 1999 and 1998                                          2
       Consolidated Statements of Cash Flows
           For the nine months ended December 31, 1999 and 1998                3
       Consolidated Statements of Comprehensive Income
           For the three months and nine months ended
           December 31, 1999 and 1998                                          4
       Notes to Consolidated Financial Statements                          5 - 6

Item 2.    Management's Discussion and Analysis of Financial
           Condition and Results of Operations                            7 - 11

Item 3.    Quantitative And Qualitative Disclosures About Market Risk
           Market Risk                                                        12
       Interest Rate Risk                                                     12



PART II.  OTHER INFORMATION

Item    1. Legal Proceedings                                                  13
Item    2. Changes in Securities and Use of Proceeds                          13
Item    3. Defaults Upon Senior Securities                                    13
Item    4. Submission of Matters to a Vote of Security Holders                13
Item    5. Other Information                                                  13
Item    6. Exhibits and Reports on Form 8-K                                   13

<PAGE>
PART I - FINANCIAL INFORMATION
Item    1 - Financial Statements
<TABLE>
<CAPTION>
                       FirstBank NW Corp. and Subsidiaries
                 Consolidated Statements of Financial Condition

                                                                At December 31,   At  March 31,
                                                                     1999             1999
                                                                ---------------  --------------
                                                                 (Unaudited)
<S>                                                             <C>              <C>
ASSETS
Cash and cash equivalents:
  Non-interest bearing deposits                                 $   8,404,219    $   4,724,214
  Interest bearing deposits                                         2,794,497        1,502,672
  Federal funds sold                                                4,088,171        2,308,776
                                                                -------------    -------------
Total cash and cash equivalents                                    15,286,887        8,535,662

Investment securities:
  Held-to-maturity                                                         --          700,000
  Available-for-sale                                               11,327,231        6,535,812
Mortgage-backed securities:
  Held-to-maturity                                                  2,527,897        2,738,545
  Available-for-sale                                               19,161,412       10,134,850
Loans receivable, net                                             180,999,367      165,617,367
Accrued interest receivable                                         1,903,605        1,610,676
Real estate owned                                                      49,997          298,713
Stock in FHLB, at cost                                              3,585,975        2,501,975
Premises and equipment, net                                         6,268,211        5,328,788
Income taxes receivable                                               143,630           25,431
Deferred taxes                                                         19,910               --
Cash surrender value of life insurance policies                     1,644,221        1,586,210
Mortgage servicing assets                                             929,087          900,271
Other assets                                                          600,304          230,786
                                                                -------------    -------------
TOTAL ASSETS                                                    $ 244,447,734    $ 206,745,086
                                                                =============    =============

LIABILITIES AND STOCKHOLDERS' EQUITY
Liabilities:
  Deposits                                                      $ 145,635,776    $ 133,278,136
  Advances from borrowers for taxes and insurance                   1,129,175        1,427,915
  Advances from FHLB                                               70,427,106       42,027,106
  Deferred federal and state income taxes                                  --          421,000
  Accrued expenses and other liabilities                            1,489,120        1,816,435
                                                                -------------    -------------
Total Liabilities                                                 218,681,177      178,970,592
                                                                -------------    -------------

Stockholders' Equity (Note 3):
  Preferred stock, $.01 par value, 500,000 shares authorized;
      0 shares issued and outstanding                                      --               --
  Common stock, $.01 par value,  5,000,000 shares authorized;
      1,983,750 shares issued;  1,648,535 and
      1,839,559 shares outstanding                                     19,838           19,838
  Additional paid-in-capital                                       18,751,017       18,720,476
  Retained earnings, substantially restricted                      14,816,552       13,907,562
  Unearned ESOP shares                                             (1,279,070)      (1,384,070)
  Deferred compensation                                              (919,984)      (1,108,162)
  Treasury stock, at cost; 335,215 and 144,191 shares              (4,995,912)      (2,333,706)
  Accumulated comprehensive loss:                                    (625,884)         (47,444)
                                                                -------------    -------------
Total Stockholders' Equity                                         25,766,557       27,774,494
                                                                -------------    -------------
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY                      $ 244,447,734    $ 206,745,086
                                                                =============    =============

See accompanying notes to consolidated financial statements

                                                                                             1
</TABLE>
<PAGE>
<TABLE>
<CAPTION>
                       FirstBank NW Corp. and Subsidiaries
                        Consolidated Statements of Income


                                             Three months ended December 31,  Nine months ended December 31,
                                                    1999           1998           1999             1998
                                                 ----------    -----------    -------------    -----------
                                                                       (Unaudited)
<S>                                              <C>           <C>            <C>              <C>
Interest income:
  Loans receivable                               $3,725,092    $ 3,319,508    $  11,135,319$   $ 9,975,949
  Mortgage-backed securities                        306,898        143,422          644,798        473,360
  Investment securities                             108,401         77,144          277,193        216,054
  Other interest earning assets                     145,420        229,148          435,447        607,257
                                                 ----------    -----------    -------------    -----------
Total interest income                             4,285,811      3,769,222       12,492,757     11,272,620

Interest expense:
  Deposits                                        1,463,252      1,242,906        4,023,378      3,698,448
  Advances from FHLB                                673,881        609,078        2,054,840      1,771,494
                                                 ----------    -----------    -------------    -----------
Total interest expense                            2,137,133      1,851,984        6,078,218      5,469,942

Net interest income                               2,148,678      1,971,238        6,414,539      5,802,678
Provision for loan losses                             5,348         64,645          218,896        265,413
                                                 ----------    -----------    -------------    -----------
Net interest income after provision
  for loan losses                                 2,143,330      1,852,593        6,201,643      5,537,265

Non-interest income:
  Gain on sale of loans                             259,289        490,273          878,296      1,328,719
  Service fees and charges                          321,382        340,298          930,143        924,851
  Commissions and other                              29,515         62,930           75,717        123,119
                                                 ----------    -----------    -------------    -----------
Total non-interest income                           610,186        893,501        1,884,156      2,376,689

Non-interest expense:
  Compensation and related benefits               1,184,497      1,101,528        3,545,841      3,084,348
  Occupancy                                         308,290        208,923          836,404        641,873
  Other                                             559,833        607,009        1,795,977      1,873,751
                                                 ----------    -----------    -------------    -----------
Total non-interest expense                        2,052,620      1,917,460        6,178,222      5,599,972
                                                 ----------    -----------    -------------    -----------

Income before income tax expense                    700,896        828,634        1,907,577      2,313,982
Income tax expense                                  193,657        284,847          585,030        824,426
                                                 ----------    -----------    -------------    -----------
Net income                                       $  507,239    $   543,787    $   1,322,547    $ 1,489,556
                                                 ==========    ===========    =============    ===========

Earnings per share (Note 2):
  Net income per share -basic                    $     0.33    $      0.32    $        0.85    $      0.84
  Net income per share -diluted                  $     0.32    $      0.30    $        0.81    $      0.82
  Weighted average shares outstanding -basic      1,528,378      1,712,730        1,564,120      1,777,171
  Weighted average shares outstanding -diluted    1,591,858      1,795,194        1,629,801      1,812,500

See accompanying notes to consolidated financial statements

                                                                                                         2
</TABLE>
<PAGE>
<TABLE>
<CAPTION>
                      FirstBank NW Corp. and Subsidiaries,
                      Consolidated Statements of Cash Flows

                                                                               Nine months ended  December 31,
                                                                                      1999            1998
                                                                                 -------------    ------------
                                                                                           (Unaudited)
<S>                                                                              <C>              <C>
Cash flows from operating activities:
  Net income                                                                     $   1,322,547    $  1,489,556
  Adjustments to reconcile net income to net cash provided
    by operating activities:
    Depreciation and amortization                                                      647,964         426,430
    Provision for loan losses                                                          218,896         265,413
    Gain on sale of loans                                                             (878,296)     (1,328,719)
    FHLB stock dividends                                                              (165,200)       (130,000)
    ESOP compensation expense                                                          135,541         205,166
    Other losses, net                                                                   16,392          51,393
    Provision for real estate owned                                                         --          57,533
    Deferred compensation expense                                                      386,166         107,005
    Deferred income taxes                                                              (22,643)        106,185
 Changes in assets and liabilities:
    Accrued interest receivable and other assets                                      (691,264)       (639,260)
    Accrued expenses and other liabilities                                            (563,787)        (34,086)
    Income taxes receivable (payable)                                                  (79,715)        387,516
                                                                                 -------------    ------------
Net cash provided by operating activities                                              326,601         964,132
                                                                                 -------------    ------------

Cash flows from investing activities:
  Purchase of mortgage-backed securities; available-for-sale                       (11,696,741)     (3,707,447)
  Proceeds from maturities of mortgage-backed securities; held-to-maturity             901,775       3,841,234
  Proceeds from maturities of mortgage-backed securities; available-for-sale         2,120,165              --
  Purchase of investment securities; available for sale                             (5,383,646)     (3,207,122)
  Proceeds from maturities of investment securities; held-to-maturity                       --       1,249,375
  Decrease in loans receivable from loans sold                                      69,763,573      80,159,796
  Other net change in loans receivable                                             (84,510,295)    (94,895,452)
  Purchase of FHLB stock                                                              (918,800)       (215,100)
  Purchases of premises and equipment                                               (1,432,205)       (444,637)
  Net increase in cash surrender value of life insurance policies                      (58,011)       (167,127)
  Proceeds from sale of real estate owned                                              255,672         898,734
  Proceeds from maturities of certificates of deposit                                       --         991,000
  Proceeds from sale of fixed assets                                                        --         279,519
                                                                                 -------------    ------------
Net cash used in investing activities                                              (30,958,513)    (15,217,227)
                                                                                 -------------    ------------

Cash flows from financing activities:
  Cash paid for dividends                                                             (413,557)       (442,079)
  Net increase in deposits                                                          12,357,640      14,241,016
  Advances from borrowers for taxes and insurance                                     (298,740)       (540,747)
  Advances from FHLB                                                               312,125,168      70,308,334
  Payments on advances from FHLB                                                  (283,725,168)    (62,161,807)
  Purchase of treasury stock                                                        (2,662,206)     (3,257,301)
                                                                                 -------------    ------------
Net cash provided by financing activities                                           37,383,137      18,147,416
                                                                                 -------------    ------------

Net increase in cash and cash equivalents                                            6,751,225       3,894,321

Cash and cash equivalents, beginning of period                                       8,535,662       8,416,820
                                                                                 -------------    ------------
Cash and cash equivalents, end of period                                         $  15,286,887    $ 12,311,141
                                                                                 =============    ============

Supplemental disclosures of cash flow information:
  Cash paid during the period for:
     Interest                                                                    $   4,022,346    $  5,501,438
     Income taxes                                                                $     666,654    $    539,861
  Noncash investing and financing activities:
     Unrealized (gains) losses on securities; available-for-sale, net of tax     $     578,440    $     (4,745)
     Loans receivable charged to the allowance for loan losses                   $      25,986    $     29,576
     Transfer from loans converted to real estate acquired through foreclosure   $      24,122    $    355,901
     Issuance of common stock out of treasury under Management Recognition and
        Development Plan                                                         $          --    $  1,254,525

See accompanying notes to consolidated financial statements

                                                                                                             3
</TABLE>
<PAGE>
<TABLE>
<CAPTION>

                       FirstBank NW Corp. and Subsidiaries
                 Consolidated Statements of Comprehensive Income


                                                             Three months ended December 31, Nine months ended December 31,
                                                                     1999           1998           1999            1998
                                                                  ---------       --------      ---------       ----------
                                                                                        (Unaudited)

<S>                                                                <C>            <C>          <C>              <C>
    Net income                                                    $ 507,239       $543,787     $1,322,547       $1,489,556
    Other comprehensive income (loss), net of tax:
           Change in unrealized gains (losses) on securities;
                 available-for-sale, net of tax                    (251,040)       (27,576)      (578,440)           4,745
                                                                  ---------       --------     ----------       ----------

           Net other comprehensive income (loss)                   (251,040)       (27,576)      (578,440)           4,745
                                                                  ---------       --------     ----------       ----------
    Comprehensive income                                          $ 256,199       $516,211     $  744,107       $1,494,301
                                                                  =========       ========     ==========       ==========

See accompanying notes to consolidated financial statements

                                                                                                                         4
</TABLE>
<PAGE>
                       FIRSTBANK NW CORP. AND SUBSIDIARIES
             NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (UNAUDITED)

(1)     BASIS OF PRESENTATION

The accompanying  unaudited consolidated financial statements have been prepared
in accordance with Generally Accepted  Accounting  Principles (GAAP) for interim
financial information and with the instructions to Form 10-QSB and Article 10 of
Regulation  S-X.  Accordingly,  they do not include all of the  information  and
footnotes required by GAAP for complete financial  statements.  These statements
should be read in conjunction  with the  consolidated  financial  statements and
related notes included in the Company's Form 10-KSB for the year ended March 31,
1999.  In the  opinion of  management,  all  adjustments  (consisting  of normal
recurring adjustments) necessary for a fair presentation have been included. The
results  of  operations  and  other  data for the three  and nine  months  ended
December 31, 1999 are not necessarily indicative of results that may be expected
for the entire fiscal year ending March 31, 2000.

The  unaudited  consolidated  financial  statements  of FirstBank NW Corp.  (the
"Company")  include  the  accounts  of its  wholly-owned  subsidiary,  FirstBank
Northwest  (the  "Bank") and it's  wholly-owned  subsidiary,  TriStar  Financial
Corporation,  for the  three  and nine  months  ended  December  31,  1999.  All
significant  intercompany  accounts and  transactions  have been  eliminated  in
consolidation.

(2)  EARNINGS PER SHARE

Earnings  per share  ("EPS") is computed by dividing  net income by the weighted
average  number of common shares  outstanding  in accordance  with  Statement of
Financial Accounting Standards No. 128, "Earnings Per Share".

The following table reconciles the number of common shares used in the basic and
diluted EPS calculations:
<TABLE>
<CAPTION>
                                             For the Three Months Ended 12/31/99           For the Nine Months Ended 12/31/99
                                             -----------------------------------           ----------------------------------

                                                             Weighted-      Per-Share                      Weighted-       Per-Share
                                            Net Income     Average Shares     Amount     Net Income     Average Shares      Amount
                                            ----------     --------------   ---------    ----------     --------------     ---------
<S>                                          <C>               <C>            <C>        <C>                <C>             <C>
    Basic EPS:
    Income available to common
        stockholders                         $507,239          1,528,378      $ 0.33     $1,322,547         1,564,120       $0.85
                                                                              ======                                        =====
    Effect of dilutive securities:
        Restricted stock awards                    --             63,480                         --            65,681
                                             --------          ---------                 ----------         ---------

    Diluted EPS:
      Income available to common
        stockholders - assumed
        conversions                          $507,239          1,591,858      $ 0.32     $1,322,547         1,629,801       $0.81
                                             ========          =========      ======     ==========         =========       =====

                                             For the Three Months Ended 12/31/98           For the Nine Months Ended 12/31/98
                                             -----------------------------------           ----------------------------------

                                                             Weighted-      Per-Share                      Weighted-       Per-Share
                                            Net Income     Average Shares     Amount     Net Income     Average Shares      Amount
                                            ----------     --------------   ---------    ----------     --------------     ---------
<S>                                          <C>               <C>            <C>        <C>                <C>             <C>
    Basic EPS:
    Income available to common
        stockholders                         $543,787          1,712,591      $ 0.32     $1,489,556         1,777,424       $0.84
                                                                              ======                                        =====
    Effect of dilutive securities:
        Restricted stock awards                    --             82,603                         --            35,076
                                             --------          ---------                 ----------         ---------

    Diluted EPS:
      Income available to common
        stockholders - assumed
        conversions                          $543,787          1,795,194      $ 0.30     $1,489,556         1,812,500       $0.82
                                             ========          =========      ======     ==========       ===========       =====
</TABLE>
At December  31, 1999,  outstanding  options to purchase  170,200  shares of the
Company's  common stock were not included in the  computation  of diluted EPS as
their effect would have been antidilutive.

                                                                               5
<PAGE>


 (3) DIVIDEND

On October 21, 1999,  the Board of Directors  declared a cash  dividend of $0.09
per common share to shareholders of record as of November 18, 1999. The dividend
was paid on  December  2, 1999.  On January  20,  2000,  the Board of  Directors
declared  another  cash  dividend of $0.09 per common share to  shareholders  of
record as of February 11, 2000. This dividend will be paid on February 25, 2000.


                                                                               6
<PAGE>

Item 2
                     MANAGEMENT'S DISCUSSION AND ANALYSIS OF
                  FINANCIAL CONDITION AND RESULTS OF OPERATIONS

Forward-looking statements,  within the meaning of Section 21E of the Securities
and Exchange Act of 1934, are made throughout this  Management's  Discussion and
Analysis of Financial Condition and Results of Operations. For this purpose, any
statements  contained  herein that are not statements of historical  fact may be
deemed to be  forward-looking  statements.  Without limiting the foregoing,  the
words "believes",  "anticipates",  "plans",  "expects",  "estimates" and similar
expressions  are intended to identify  forward-looking  statements.  There are a
number of  important  factors  that could  cause the  results of the  Company to
differ  materially from those indicated herein.  These factors include,  but are
not limited to, those set forth in Item 7 entitled  Management's  Discussion and
Analysis of Financial  Condition and Results of Operations in the Company's Form
10-KSB for the year ended March 31, 1999.

GENERAL

On July 1, 1997,  FirstBank  Northwest  converted  from mutual to stock form and
became a wholly owned  subsidiary of a newly formed  Delaware  holding  company,
FirstBank Corp. The Company sold 1,983,750  shares of common stock at $10.00 per
share in conjunction with a subscription offering to the Savings Bank's Employee
Stock Ownership Plan (ESOP) and eligible account holders.  The net proceeds were
approximately $18,921,825.  The Company used approximately $9,470,000 of the net
proceeds to purchase  all the capital  stock of the Savings  Bank.  In addition,
$1,587,000  was loaned to the ESOP for the  purchase  of  158,700  shares in the
offering.

The Company's principal business is the business of the Savings Bank. Therefore,
the  discussion  in  the  Management's  Discussion  and  Analysis  of  Financial
Conditions  and  Results  of  Operation  relates  to the  Savings  Bank  and its
operations.  In January 1998, the Bank changed its charter to a Washington state
savings bank. The Bank has six offices in Idaho and two in Washington.

On November 18, 1999,  the Company  opened a new branch  office in Liberty Lake,
Washington.  Liberty Lake is a  fast-growing  bedroom  community  midway between
Spokane,  Washington and Coeur d' Alene, Idaho. This is the eighth retail branch
for the Company,  the second in Washington  State,  and employs six individuals,
including one loan officer. The annual lease expense for the land is $30,000.

As approved by  shareholders  on August 20, 1999,  FirstBank  Corp.  changed its
state of  incorporation  from  Delaware  to  Washington  and changed its name to
FirstBank NW Corp, which was accomplished by merging the Company with and into a
newly formed Washington  subsidiary.  The primary purpose of the reincorporation
was to save on the  amount  of state  franchise  tax fees paid  annually  by the
Company.

In March 1999,  the Company opened its first branch office inside a supermarket.
The new branch is located in the Tidyman's Northwest Fresh Market in Post Falls,
Idaho - a fast  growing  small city  between  Spokane,  Washington  and Coeur d'
Alene,  Idaho. The branch is the Company's seventh branch and employs a staff of
approximately  four people.  The annual lease expense is $27,000 and capitalized
costs were $104,000.

FINANCIAL CONDITION AT DECEMBER 31, 1999 AND MARCH 31, 1999

Assets  increased  from $206.8  million at March 31,  1999 to $244.4  million at
December  31, 1999.  Cash and cash  equivalents  increased  from $8.5 million at
March 31, 1999 to $15.3 million at December 31, 1999 as a result of anticipation
of  customer  cash  withdrawn  for the  Year  2000  concerns.  Loans  receivable
increased  from $165.6  million at March 31, 1999 to $181.0  million at December
31,  1999 as a result  of an  increase  in  commercial  loans  of $8.2  million,
agricultural  operating  lending of $4.3  million and home equity  loans of $4.2
million.  Accrued interest  receivable  increased from $1.6 million at March 31,
1999 to $1.9 million at December 31, 1999 due to a higher  average asset base in
securities and loans.  Deposits  increased from $133.3 million at March 31, 1999
to $145.6 million at December 31, 1999 as a result of a $6.4 million increase in
money  market  accounts.  Federal  Home Loan  Bank of  Seattle  (FHLB)  advances
increased  from $42.0 million at March 31, 1999 to $70.4 million at December 31,
1999.  The increase in FHLB  borrowing  was used to fund  investment  growth and
cover  increased  cash  demand  due to Year  2000.  Accrued  expenses  and other
liabilities  decreased  from $1.8  million at March 31, 1999 to $1.5  million at
December  31,  1999.  It is the  policy of the  Savings  Bank to cease  accruing
interest  on loans 90 days or more past due.  Nonaccrual  loans  decreased  from
$612,000 at March 31, 1999 to $533,000 at December 31, 1999.

RESULTS OF OPERATIONS FOR THREE MONTHS ENDED DECEMBER 31, 1999 AND 1998

Net income  decreased from $544,000 for the three months ended December 31, 1998
to $507,000 for the three months ended December 31, 1999.

                                                                               7
<PAGE>

Net  interest  income  increased  from $2.0  million for the three  months ended
December 31, 1998 to $2.1 million for the three months ended  December 31, 1999.
Total  interest  income  increased  from $3.8 million for the three months ended
December 31, 1998 to $4.3 million for three months ended  December 31, 1999. The
increase in interest income stemmed from an increase in average interest earning
assets offset by a decrease in the weighted average yield on the loan portfolio,
which was 8.53% for the three  months ended  December  31, 1998  compared to the
weighted  average  yield for the three months ended  December 31, 1999 of 8.46%.
The average balance of loans  receivable was $156.9 million in the third quarter
of 1998 compared to $177.0 million in the third quarter of 1999. Interest income
from  investment  securities  increased  from $77,000 for the three months ended
December 31, 1998 to $108,000 for the three months ended  December 31, 1999. The
increase is  primarily  due to an increase in the  portfolio  balance.  Interest
income from  mortgage-backed  securities  increased  from $143,000 for the three
months ended  December 31, 1998 to $307,000 for the three months ended  December
31, 1999. The increase is due primarily to an increase in the portfolio balance.
Interest expense increased from $1.9 million for the three months ended December
31, 1998 to $2.1  million for the same period in 1999.  The increase in interest
expense is due  primarily to higher  average  deposit  balances,  an increase in
average FHLB advances and an increase in weighted  average  rates.  The weighted
average rate on deposits for the three months ended  December 31, 1999 was 3.80%
whereas the weighted average rate on deposits as of December 31, 1998 was 3.92%.
The weighted  average rate on FHLB advances for the three months ended  December
31, 1999 was 5.73%,  whereas the weighted  average  rate on FHLB  advances as of
December 31, 1998 was 5.59%.

Provision for loan losses is based upon  management's  consideration of economic
conditions  which may  affect  the  ability  of  borrowers  to repay the  loans.
Management also reviews  individual loans for which full  collectibility may not
be reasonably assured and considers,  among other matters, the risks inherent in
the Savings  Bank's  portfolio  and the estimated  fair value of the  underlying
collateral.  This evaluation is ongoing and results in variations in the Savings
Bank's provision for loan losses. As a result of this evaluation,  the Company's
provision  for loan losses  decreased  from  $65,000 for the three  months ended
December 31, 1998 to $5,000 for the three months ended December 31, 1999.

Non-interest  income decreased from $894,000 for the three months ended December
31, 1998 to $610,000 for the three months ended  December 31, 1999.  The primary
reason  for the  decrease  is the  income  from  gain on  said of  loans,  which
decreased $231,000.

Non-interest  expense  increased  from $1.9  million for the three  months ended
December 31, 1998 to $2.1 million for the three months ended  December 31, 1999.
The increase in compensation  and other related expenses of $82,000 is caused by
additional staff for new branches.

Income  taxes  decreased  from an expense of $285,000 for the three months ended
December 31, 1998 to expense of $194,000 for the same time period in 1999 due to
recognition of an investment tax credit for capital improvements, an increase in
non-taxable income and a decrease in income before income tax expense.

RESULTS OF OPERATIONS FOR NINE MONTHS ENDED DECEMBER 31, 1999 AND 1998

Net income  decreased  from $1.5 million for the nine months ended  December 31,
1998 to $1.3 million for the nine months ended December 31, 1999.

Net  interest  income  increased  from $5.8  million for the nine  months  ended
December 31, 1998 to $6.4  million for the nine months ended  December 31, 1999.
Total  interest  income  increased  from $11.3 million for the nine months ended
December 31, 1998 to $12.5 million for nine months ended  December 31, 1999. The
increase in interest income stemmed from an increase in average interest earning
assets offset by a decrease in the weighted  average yield,  which was 8.38% for
the nine months ended  December 31, 1998 compared to the weighted  average yield
for the nine months ended  December 31, 1999 of 8.11%.  The average  balance for
loans  receivable  was $153.9  million during the nine months ended December 31,
1998  compared to the nine months ended  December  31, 1999  average  balance of
$176.0  million.  Interest  income from  investment  securities  increased  from
$216,000  for the nine months  ended  December 31, 1998 to $277,000 for the nine
months ended  December 31, 1999. The increase is primarily due to an increase in
the portfolio balance. Interest income from mortgage-backed securities increased
from  473,000 for the nine months  ended  December  31, 1998 to $645,000 for the
nine months ended  December 31, 1999.  The increase is due primarily to a higher
average  balance.  Interest  expense  increased  from $5.5  million for the nine
months ended December 31, 1998 to $6.1 million for the same time period in 1999.
The  increase in interest  expense is due  primarily to higher  average  deposit
balances,  an  increase  in average  FHLB  advances  and an increase in weighted
average rates.  The weighted  average rate on deposits for the nine months ended
December 31, 1999 was 3.77%,  whereas the weighted  average rate on deposits for
the nine months ended December 31, 1998 was 4.09%.  The weighted average rate on
FHLB advances for the nine months ended December 31, 1999 was 5.52%, whereas the
weighted  average rate on FHLB  advances for the nine months ended  December 31,
1998 was 5.74%.

Provision for loan losses is based upon  management's  consideration of economic
conditions  which may  affect  the  ability  of  borrowers  to repay the  loans.

                                                                               8
<PAGE>

Management also reviews  individual loans for which full  collectibility may not
be reasonably assured and considers,  among other matters, the risks inherent in
the Savings  Bank's  portfolio  and the estimated  fair value of the  underlying
collateral.  This evaluation is ongoing and results in variations in the Savings
Bank's provision for loan losses. As a result of this evaluation,  the Company's
provision  for loan losses  decreased  from  $265,000  for the nine months ended
December 31, 1998 to 219,000 for the nine months ended December 31, 1999.

Non-interest  income  decreased  from $2.4  million  for the nine  months  ended
December 31, 1998 to $1.9  million for the nine months ended  December 31, 1999.
The  primary  reason  for the  decrease  is the gain on sale of loans  decreased
$450,000 due to a decrease in mortgage loan volume.

Non-interest  expense  increased  from $5.6  million for the nine  months  ended
December 31, 1998 to $6.2  million for the nine months ended  December 31, 1999.
The increase in compensation and other related expenses of $462,000 is caused by
additional staff for new branches.  Other expenses that increased were occupancy
expenses, increasing by $194,000 associated with opening new facilities.

Income  taxes  decreased  from an expense of $824,000  for the nine months ended
December 31, 1998 to an expense of $585,000 for the same time period in 1999 due
to a decrease in income  before income tax expense and  investments  in tax free
assets.

                                                                               9

<PAGE>

Average Balances, Interest and Average Yields/Costs

The  following  table sets forth  certain  information  for the years  indicated
regarding average balances of assets and liabilities as well as the total dollar
amounts of interest  income from  average  interest-earning  assets and interest
expense on average interest-bearing  liabilities and average tax effected yields
and costs. Such yields and costs for the years indicated are derived by dividing
tax  effected  income or expense  by the  average  monthly  balance of assets or
liabilities, respectively, for the years presented. Average balances are derived
from month-end  balances.  Management does not believe that the use of month-end
balances  instead of daily  balances has caused any material  difference  in the
information presented.
<TABLE>
<CAPTION>

                                                       March 31, 1999                       December 31, 1999
                                                       --------------                       -----------------
                                                          Interest   Average                      Interest     Average
                                               Average      and      Yield/          Average         and        Yield/
                                               Balance   Dividends    Cost           Balance      Dividends      Cost
                                               -------   ---------   -------         -------      ---------    -------
                                                                       (Dollars in Thousands)
<S>                                           <C>         <C>         <C>            <C>           <C>           <C>
          Interest-earning assets:
          Loans receivable                    $155,860    $13,315     8.64%          $176,030      $11,135       8.48%
          Mortgage-backed securities            11,111        623     5.61             14,080          645       6.11
          Investment securities                  6,816        302     6.22              7,529          277       6.78
          Other earning assets                   9,972        721     7.23             10,646          435       5.45
                                              --------    -------                    --------      -------
          Total interest-earning assets        183,759     14,961     8.29            208,285       12,492       8.11

          Non-interest-earning assets           13,067                                 14,040
                                              --------                               --------
          Total assets                        $196,826                               $222,325
                                              ========                               ========

          Interest-earning liabilities:
          Passbook, NOW and money
             market accounts                    46,749        877     1.88             61,904          928       2.00
          Certificates of deposit               76,107      3,993     5.25             80,341        3,095       5.14
                                              --------    -------                    --------      -------
          Total deposits                       122,856      4,870     3.96            142,245        4,023       3.77

          Advances from FHLB                    41,107      2,353     5.72             49,655        2,055       5.52
                                              --------    -------                    --------      -------
          Total interest-bearing
              Liabilities                      163,963      7,223     4.41            191,900        6,078       4.22
                                                          -------                                  -------
          Non-interest-bearing
              Liabilities                        3,574                                  3,298
                                              --------                               --------
          Total liabilities                    167,537                                195,198
                                              --------                               --------
          Total stockholders' equity            29,289                                 27,127
                                              --------                               --------

          Total liabilities and
             total stockholders' equity       $196,826                               $222,325
                                              ========                               ========

          Net interest income                             $ 7,738                                  $ 6,414
                                                          =======                                  =======

          Interest rate spread                               3.88%                                    3.89%
                                                          =======                                  =======

          Net interest margin                                4.36%                                    4.22%
                                                          =======                                  =======

          Ratio of average interest-
             earning assets to average
             interest- bearing liabilities                 112.07%                                  108.54%
                                                          =======                                  =======

                                                                                                        10
</TABLE>
<PAGE>
Liquidity and Capital Resources

The Company's primary recurring sources of funds are customer deposits, proceeds
from  principal  and interest  payments on loans,  proceeds from sales of loans,
maturing   securities  and  FHLB  advances.   While   maturities  and  scheduled
amortization  of loans are a  predictable  source of  funds,  deposit  flows and
mortgage prepayments are greatly influenced by general interest rates,  economic
conditions and competition.

The  Company  must  maintain  an  adequate  level of  liquidity  to  ensure  the
availability of sufficient funds to support loan growth and deposit withdrawals,
to  satisfy   financial   commitments   and  to  take  advantage  of  investment
opportunities.  The Company generally  maintains  sufficient cash and short-term
investments to meet short-term  liquidity  needs. At December 31, 1999, cash and
cash equivalents  totaled $15.3 million,  or 6.26% of total assets. In addition,
the Company  maintains a credit facility with the  FHLB-Seattle,  which provides
for immediately available advances.  Advances under this credit facility totaled
$70.4 million at December 31, 1999. The Company also maintains a credit facility
with the  Portland  Federal  Reserve  and a Fed Funds Line of Credit  with First
Security Bank.

The  primary  investing  activity of the  Company is the  origination  of loans.
During the quarters  ended  December 31, 1998 and 1999,  the Company  originated
loans in the amounts of $136.8  million  and $104.3  million,  respectively.  At
December 31, 1999,  the Company had loan  commitments  totaling  $12.3  million,
undisbursed  lines of credit totaling $15.5 million,  and  undisbursed  loans in
process  totaling  $3.0  million.  The  Company  anticipates  that it will  have
sufficient  funds  available to meet its current loan  origination  commitments.
Certificates  of deposit that are scheduled to mature in less than one year from
December 31, 1999 totaled $62.0 million. Historically, the Company has been able
to retain a  significant  amount of its  deposits as they  mature.  In addition,
management  of the Company  believes  that it can adjust the  offering  rates of
savings certificates to retain deposits in changing interest rate environments.

The Bank is  required to maintain  specific  amounts of capital  pursuant to the
FDIC and the State of Washington requirements. As of December 31, 1999, the Bank
was in compliance with all regulatory capital  requirements which were effective
as of such date  with  Tier 1  Capital  to  average  assets,  Tier 1 Capital  to
risk-weighted assets and Total capital to risk-weighted assets of 10.14%, 13.81%
and 14.73%, respectively.

Year 2000 Issues

The Year 2000 issue has posed  business  risks to most  business  organizations,
including the Company. In response, the Company formed a Year 2000 project team,
consisting  of senior  officers  within the  Company's  operations,  information
systems,  financial and management  areas,  to ensure that the Company  attained
Year 2000  compliance.  All data sensitive  systems were evaluated for Year 2000
compliance,  with complete  upgrading and testing of systems  completed  well in
advance of the Year 2000 date  change.  The Company also  developed  contingency
plans for its computer  processes,  including the use of alternative systems and
the manual processing of certain critical operations.  In addition,  the Company
had undertaken  extensive efforts to ensure that significant vendor and customer
relationships are Year 2000 compliant.  The Company's management is pleased, but
not surprised,  that business  continued as normal without adverse impact to the
Company during the critical date change, however at this time, management cannot
provide  assurances  that the Year  2000  issue  will not have an  impact on the
Company's operations.  The Company estimates that its total Year 2000 compliance
costs have aggregated  approximately $70,000. In addition to the estimated costs
of its Year 2000 compliance,  the Company routinely makes annual  investments in
technology in its efforts to improve customer service and to efficiently  manage
its product and service delivery systems.

                                                                              11
<PAGE>

Item 3

           QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK


Market Risk

Market risk is the risk of loss in a financial  instrument  arising from adverse
changes in market rates/prices such as interest rates, foreign currency exchange
rates,  commodity prices,  and equity prices.  The Company's primary market risk
exposure is interest rate risk.  The on-going  monitoring  and management of the
risk is an  important  component  of the  Company's  asset/liability  management
process,  which is governed by policies  established  by its Board of  Directors
that are  reviewed  and  approved  annually.  The Board of  Directors  delegates
responsibility for carrying out the  asset/liability  management policies to the
Asset/Liability  Committee  ("ALCO").  In this capacity ALCO develops guidelines
and  strategies  impacting  the  Company's  asset/liability  management  related
activities  based upon  estimated  market risk  sensitivity,  policy  limits and
overall market interest rate levels/trends.

Interest Rate Risk

Interest rate risk  represents the  sensitivity of earnings to changes in market
interest rates. As interest rates change the interest income and expense streams
associated  with  the  Company's  financial   instruments  also  change  thereby
impacting net interest  income ("NII"),  the primary  component of the Company's
earnings.  ALCO utilizes the results of a detailed and dynamic  simulation model
to quantify the  estimated  exposure of NII to sustained  interest rate changes.
While ALCO routinely  monitors simulated NII sensitivity over a rolling two-year
horizon,  it also utilizes  additional  tools to monitor  potential  longer-term
interest rate risk.

The  simulation  model  captures  the impact of changing  interest  rates on the
interest income received and interest expense paid on all assets and liabilities
reflected  on the  Company's  balance  sheet  as well as for off  balance  sheet
derivative financial instruments,  if any. This sensitivity analysis is compared
to ALCO policy limits which specify a maximum  tolerance  level for NII exposure
over a one year  horizon,  assuming no balance  sheet  growth,  given both a 200
basis point (bp) upward and downward shift in interest rates. A parallel and pro
rata shift in rates over a 12 month period is assumed.  The  following  reflects
the  Company's NII  sensitivity  analysis as of December 31, 1999 as compared to
the 10.00% Board approved policy limit.

                          -200 BP                  Flat                  +200 BP
                          -------                  ----                  -------
                                          (Dollars in Thousands)
Year 1 NII                $9,399                  $9,246                $ 8,914
NII $ Change              $  153                      --                $  (332)
NII % Change                1.65%                     --                  -3.59%


         The  preceding  sensitivity  analysis  does  not  represent  a  Company
forecast and should not be relied upon as being  indicative  of expected  future
operating  results.   These  hypothetical  estimates  are  based  upon  numerous
assumptions  including:  the nature and timing of interest rate levels including
yield curve shape,  prepayments  on loans and  securities,  deposit decay rates,
pricing decisions on loans and deposits,  reinvestment/replacement  of asset and
liability cash flows,  and others.  While  assumptions  are developed based upon
current  economic  and local  market  conditions,  the  Company  cannot make any
assurances  as to the  predictive  nature  of these  assumptions  including  how
customer preferences or competitor influences might change.

         Also, as market  conditions  vary from those assumed in the sensitivity
analysis, actual results will also differ due to:  prepayment/refinancing levels
likely deviating from those assumed,  the varying impact of interest rate change
caps or floors on adjustable rate assets,  the potential effect of changing debt
service  levels  on  customers  with  adjustable  rate  loans,  depositor  early
withdrawals  and  product  preference  changes,   and  other   internal/external
variables.  Furthermore,  the sensitivity analysis does not reflect actions that
ALCO might take in responding to or anticipating changes in interest rates.

                                                                              12
<PAGE>

                       FIRSTBANK NW CORP. AND SUBSIDIARIES

PART II  -  OTHER INFORMATION

Item 1 - Legal Proceeding

     There are no material legal proceedings to which the Company or the Savings
     Bank is a party or of which any of their property is subject.  From time to
     time, the Savings Bank is a party to various legal proceedings  incident to
     its business.

Item 2 - Changes in Securities

     None.

Item 3 - Defaults upon Senior Securities

     Not applicable.

Item 4 - Submission of Matters to a Vote of Security Holders

     None

Item 5 - Other Information

     None.

Item 6 - Exhibits and Reports on Form 8-K

     (a) Exhibits:
                  3.1      Articles of Incorporation of the Registrant (1)
                  3.2      Bylaws of the Registrant (2)
                  10.1     Employment Agreement between FirstBank Northwest,
                           FirstBank Corp. and Clyde E. Conklin (3)
                  10.2     Employment Agreement between FirstBank Northwest,
                           FirstBank Corp. and Larry K. Moxley (4)
                  10.3     Salary Continuation Agreement between First Federal
                           Bank of Idaho, F.S.B. and Clyde E. Conklin (4)
                  10.4     Salary Continuation Agreement between First Federal
                           Bank of Idaho, F.S.B. and Larry K. Moxley (4)
                  10.5     1998 Stock Option Plan (5)
                  10.6     Management Recognition and Development Plan (5)
                  27       Financial Data Schedule

(1)      Current report on form 8-K filed on September 2, 1999.
(2)      Incorporated by reference to the Registrant's Annual Meeting
         Proxy Statement dated June 15, 1999.
(3)      Incorporated by reference to the Registrant's Annual Report
         on Form 10-K for the year ended March 31, 1997.
(4)      Incorporated by reference to the Registrant's Registration
         Statement on Form SB-2, (File No. 333-23395).
(5)      Incorporated by reference to the Registrant's Annual Meeting
         Proxy Statement dated June 15, 1998.


     (b) Reports on Form 8-K; No reports on Form 8-K have been filed during
         the quarter for which this report is filed.

                                                                              13
<PAGE>


                                   SIGNATURES


Pursuant  to the  requirements  of the  Securities  Exchange  Act of  1934,  the
registrant  has duly  caused  this  report  to be  signed  on its  behalf by the
undersigned thereunto duly authorized.


                               FIRSTBANK NW CORP.


DATED:  February 10, 2000         BY: /s/ CLYDE E. CONKLIN
                                      -----------------------------------------
                                          Clyde E. Conklin
                                          President and Chief Executive Officer

                                  BY: /s/ LARRY K. MOXLEY
                                      -----------------------------------------
                                          Larry K. Moxley
                                          Secretary and Chief Financial Officer

                                                                              14