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 September 30, 2001


       ( ) 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)




                      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 1,462,592 shares
outstanding on November 13, 2001.

Transitional Small Business Disclosure Format (check one):

( ) Yes         (X) No
<PAGE>

                               FIRSTBANK NW CORP.
                                TABLE OF CONTENTS


PART I.  FINANCIAL INFORMATION

<TABLE>
<CAPTION>
                                                                                            Page
<S>                                                                                         <C>
Item 1.   Consolidated Financial Statements (Unaudited)

          Consolidated Statements of Financial Condition                                      1

          Consolidated Statements of Income
             For the three months and six months ended September 30, 2000 and 2001            2

          Consolidated Statements of Cash Flows
             For the six months ended September 30, 2000 and 2001                             3

          Consolidated Statements of Comprehensive Income
             For the three months and six months ended September 30, 2000 and 2001            4

          Notes to Consolidated Financial Statements                                        5 - 8

Item 2.   Management's Discussion and Analysis of Financial
            Condition and Results of Operations                                             9 - 14



PART II.  OTHER INFORMATION

Item 1.   Legal Proceedings                                                                   15

Item 2.   Changes in Securities and Use of Proceeds                                           15

Item 3.   Defaults Upon Senior Securities                                                     15

Item 4.   Submission of Matters to a Vote of Security Holders                                 15

Item 5.   Other Information                                                                   15

Item 6.   Exhibits and Reports on Form 8-K                                                    15
</TABLE>
<PAGE>

PART I - FINANCIAL INFORMATION

Item 1 - Financial Statements

                       FirstBank NW Corp. and Subsidiaries
                 Consolidated Statements of Financial Condition

<TABLE>
<CAPTION>
                                                                    September 30,        March 31,        September 30,
                                                                         2000              2001               2001
                                                                    -------------      -------------      -------------
                                                                     (Unaudited)                           (Unaudited)
<S>                                                                 <C>                <C>                <C>
ASSETS
Cash and cash equivalents:
  Non-interest bearing deposits                                     $   8,819,841      $   8,013,411      $  10,149,799
  Interest bearing deposits                                               840,711          1,166,117          1,322,795
  Federal funds sold                                                    3,663,480          3,625,320         15,789,469
                                                                    -------------      -------------      -------------
Total cash and cash equivalents                                        13,324,032         12,804,848         27,262,063

Investment securities:
  Available-for-sale                                                   11,847,961         12,568,249         12,595,452
Mortgage-backed securities:
  Held-to-maturity                                                      2,419,905          2,335,433          2,236,579
  Available-for-sale                                                   17,665,730         17,703,893         11,354,809
Loans receivable, net (Note 2)                                        198,767,798        219,150,826        215,820,487
Accrued interest receivable                                             2,905,558          2,301,830          2,681,148
Real estate owned                                                          25,832             33,164             71,930
Stock in FHLB, at cost                                                  4,563,175          5,031,875          5,209,775
Premises and equipment, net                                             6,214,351          5,988,987          5,724,365
Income taxes receivable                                                    72,919            124,512             68,884
Cash surrender value of bank owned and other insurance policies         1,703,730          1,744,457          6,548,888
Mortgage servicing assets                                                 897,360            866,489            946,859
Other assets                                                              446,636            407,720            661,093
                                                                    -------------      -------------      -------------
TOTAL ASSETS                                                        $ 260,854,987      $ 281,062,283      $ 291,182,332
                                                                    =============      =============      =============

LIABILITIES AND STOCKHOLDERS' EQUITY
Liabilities:
  Deposits                                                          $ 150,819,914      $ 157,797,123      $ 180,794,003
  Advances from borrowers for taxes and insurance                         991,754          1,400,630          1,406,521
  Advances from FHLB and other borrowings (Note 3)                     80,824,186         90,917,023         78,551,468
  Deferred federal and state income taxes                                 169,089            772,000            589,827
  Accrued expenses and other liabilities                                2,027,184          2,199,164          2,070,442
                                                                    -------------      -------------      -------------
TOTAL LIABILITIES                                                     234,832,127        253,085,940        263,412,261
                                                                    -------------      -------------      -------------
  Commitments and contingencies (Note 4)

  Stockholders' Equity (Note 4):
  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; 1,434,270,
       1,441,515 and 1,372,694 shares outstanding                          19,838             19,838             19,838
  Additional paid-in-capital                                           18,788,822         18,809,135         18,828,118
  Retained earnings, substantially restricted                          15,708,223         16,376,831         17,267,772
  Unearned ESOP shares                                                 (1,169,050)        (1,053,130)        (1,011,350)
  Deferred compensation                                                  (747,561)          (629,381)          (511,200)
  Treasury stock, at cost; 436,797, 436,797 and 512,558
       shares                                                          (6,147,282)        (6,147,282)        (7,390,764)
  Accumulated other comprehensive income (loss)                          (430,130)           600,332            567,657
                                                                    -------------      -------------      -------------
Total Stockholders' Equity                                             26,022,860         27,976,343         27,770,071
                                                                    -------------      -------------      -------------
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY                          $ 260,854,987      $ 281,062,283      $ 291,182,332
                                                                    =============      =============      =============
</TABLE>

           See accompanying notes to consolidated financial statements

                                                                               1
<PAGE>

                       FirstBank NW Corp. and Subsidiaries
                        Consolidated Statements of Income

<TABLE>
<CAPTION>
                                                       Three-months ended September 30,   Six-months ended September 30,
                                                            2000             2001             2000             2001
                                                        ------------     ------------     ------------     ------------
                                                                                  (Unaudited)
<S>                                                     <C>              <C>              <C>              <C>
Interest income:
  Loans receivable                                      $  4,528,597     $  4,634,589     $  8,693,490     $  9,304,676
  Mortgage-backed securities                                 369,520          232,969          739,626          526,060
  Investment securities                                      152,516          150,009          308,669          302,561
  Other interest earning assets                              162,195          204,536          320,781          365,844
                                                        ------------     ------------     ------------     ------------
Total interest income                                      5,212,828        5,222,103       10,062,566       10,499,141
                                                        ------------     ------------     ------------     ------------

Interest expense:
  Deposits                                                 1,427,769        1,534,006        2,812,775        3,075,364
  Advances from FHLB and other borrowings                  1,516,677        1,139,111        2,806,278        2,386,985
                                                        ------------     ------------     ------------     ------------
Total interest expense                                     2,944,446        2,673,117        5,619,053        5,462,349
                                                        ------------     ------------     ------------     ------------

Net interest income                                        2,268,382        2,548,986        4,443,513        5,036,792
Provision for loan losses                                     31,417          184,585          133,314          413,555
                                                        ------------     ------------     ------------     ------------
Net interest income after provision for loan losses        2,236,965        2,364,401        4,310,199        4,623,237
                                                        ------------     ------------     ------------     ------------

Non-interest income:
  Gain on sale of loans                                      276,220          482,032          449,404          835,104
  Gain on sale of securities, net                                 --               --               --          175,249
  Service fees and other charges                             403,366          485,082          773,010          925,238
  Commissions and other                                       29,551           24,141           55,651           65,083
                                                        ------------     ------------     ------------     ------------
Total non-interest income                                    709,137          991,255        1,278,065        2,000,674
                                                        ------------     ------------     ------------     ------------

Non-interest expense:
  Compensation and employee related benefits               1,233,251        1,462,598        2,435,050        2,907,160
  Occupancy                                                  290,364          309,625          620,980          617,241
  Other                                                      582,444          710,922        1,183,300        1,338,211
                                                        ------------     ------------     ------------     ------------
Total non-interest expense                                 2,106,059        2,483,145        4,239,330        4,862,612
                                                        ------------     ------------     ------------     ------------

Income before income tax expense                             840,043          872,511        1,348,934        1,761,299
Income tax expense                                           306,868          279,199          420,763          586,608
                                                        ------------     ------------     ------------     ------------
Net income                                              $    533,175     $    593,312     $    928,171     $  1,174,691
                                                        ============     ============     ============     ============

Earnings per share (Note 5):
  Net income per share - basic                          $       0.38     $       0.44     $       0.66     $       0.86
  Net income per share - diluted                        $       0.37     $       0.43     $       0.63     $       0.82
  Weighted average shares outstanding - basic              1,395,559        1,356,792        1,415,310        1,372,325
  Weighted average shares outstanding - diluted            1,446,947        1,397,308        1,470,862        1,427,458
</TABLE>

           See accompanying notes to consolidated financial statements

                                                                               2
<PAGE>

                      FirstBank NW Corp. and Subsidiaries,
                      Consolidated Statements of Cash Flows

<TABLE>
<CAPTION>
                                                                                        Six-months ended September 30,
                                                                                          2000               2001
                                                                                      -------------      -------------
                                                                                                (Unaudited)
<S>                                                                                   <C>                <C>
Cash flows from operating activities:
  Net income                                                                          $     928,171      $   1,174,691
  Adjustments to reconcile net income to net cash provided by (used in)
   operating activities:
    Depreciation and amortization                                                           368,999            345,278
    Provision for loan losses                                                               133,314            413,555
    Gain on sale of loans                                                                  (449,404)          (835,104)
    Gain on sale of securities, net                                                              --           (175,249)
    FHLB stock dividends                                                                   (139,811)          (177,900)
    ESOP compensation expense                                                                56,840             60,763
    Other (gains) losses, net                                                                   847            (14,996)
    Deferred compensation expense                                                           201,919            118,181
    Deferred income taxes                                                                    55,792           (161,553)
 Changes in assets and liabilities:
    Accrued interest receivable and other assets                                         (1,106,488)          (701,373)
    Accrued expenses and other liabilities                                                  804,228           (128,059)
    Income taxes receivable (payable)                                                        75,717             55,628
                                                                                      -------------      -------------
Net cash provided by (used in) operating activities                                         930,124            (26,138)
                                                                                      -------------      -------------

Cash flows from investing activities:
  Proceeds from maturities of mortgage-backed securities; held-to-maturity                   61,705             95,318
  Proceeds from maturities of mortgage-backed securities; available-for-sale              1,085,808          1,165,425
  Proceeds from sale of mortgage-backed securities; available-for-sale                           --          5,271,715
  Purchase of investment securities; available for sale                                    (333,703)                --
  Proceeds from sale of loans                                                            31,932,346         48,880,076
  Other net change in loans receivable                                                  (42,719,895)       (45,341,327)
  Purchase of FHLB stock                                                                   (458,189)                --
  Purchases of premises and equipment                                                      (363,678)           (71,086)
  Purchase of bank owned and other insurance policies                                            --         (4,749,442)
  Net increase in cash surrender value of bank owned and other insurance policies           (40,059)           (54,989)
  Proceeds from sale of real estate owned                                                    17,459            177,681
                                                                                      -------------      -------------
Net cash provided by (used in) investing activities                                     (10,818,206)         5,373,371
                                                                                      -------------      -------------

Cash flows from financing activities:
  Cash paid for dividends                                                                  (264,488)          (283,751)
  Net increase in deposits                                                                5,912,966         22,996,879
  Advances (repayments) from borrowers for taxes and insurance                             (378,134)             5,891
  Advances from FHLB                                                                    832,860,420        129,874,106
  Payments on advances from FHLB                                                       (826,614,340)      (142,239,661)
  Purchase of treasury stock                                                               (800,250)        (1,243,482)
                                                                                      -------------      -------------
Net cash provided by financing activities                                                10,716,174          9,109,982
                                                                                      -------------      -------------

Net increase in cash and cash equivalents                                                   828,092         14,457,215

Cash and cash equivalents, beginning of period                                           12,495,940         12,804,848
                                                                                      -------------      -------------
Cash and cash equivalents, end of period                                              $  13,324,032      $  27,262,063
                                                                                      =============      =============

Supplemental disclosures of cash flow information: Cash paid during the
  period for:
     Interest                                                                         $   5,579,059      $   5,353,915
     Income taxes                                                                     $     202,285      $     692,533
  Noncash investing and financing activities:
     Unrealized losses on securities; available-for-sale, net of tax                  $     117,943      $      32,675
     Loans receivable charged to the allowance for loan losses                        $      60,667      $      86,286
     Transfer from loans converted to real estate acquired through foreclosure        $          --      $     213,139
</TABLE>

           See accompanying notes to consolidated financial statements

                                                                               3
<PAGE>

                       FirstBank NW Corp. and Subsidiaries
                 Consolidated Statements of Comprehensive Income

<TABLE>
<CAPTION>
                                                               Three-months ended September 30,    Six-months ended September 30,
                                                                     2000             2001             2000             2001
                                                                 ------------     ------------     ------------     ------------
                                                                                           (Unaudited)
<S>                                                              <C>              <C>              <C>              <C>
Net income                                                       $    533,175     $    593,312     $    928,171     $  1,174,691
Other comprehensive income (loss), net of tax:
       Change in unrealized losses on securities;
            available-for-sale, net of tax cost of $196,321,
            $155,412, $76,298, and $68,548                            303,478          240,462          117,943          (32,675)
                                                                 ------------     ------------     ------------     ------------

Comprehensive income                                             $    836,653     $    833,774     $  1,046,114     $  1,142,016
                                                                 ============     ============     ============     ============
</TABLE>

           See accompanying notes to consolidated financial statements

                                                                               4
<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,
2001. 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 six months ended September 30, 2001
are not necessarily indicative of results that may be expected for the entire
fiscal year ending March 31, 2002.

The unaudited consolidated financial statements of FirstBank NW Corp. (the
"Company") include the accounts of its wholly-owned subsidiary, FirstBank
Northwest (the "Bank") and wholly-owned subsidiary, TriStar Financial
Corporation. All significant intercompany accounts and transactions have been
eliminated in consolidation.


(2)      LOANS RECEIVABLE (NET)

Loans receivable at September 30, 2000, March 31, 2001, and September 30, 2001
consists of the following:

<TABLE>
<CAPTION>
                                          September 30,      March 31,      September 30,
                                              2000             2001             2001
                                          ------------     ------------     ------------
                                           (Unaudited)                       (Unaudited)
<S>                                       <C>              <C>              <C>
Real estate loans:
     Residential                          $ 72,443,657     $ 74,892,160     $ 74,086,931
     Commercial                             29,557,424       37,968,941       44,897,010
     Agricultural                           16,113,151       15,383,011       16,395,424
     Construction                            8,566,669        8,028,181        9,007,009

Other loans:
     Commercial (non-real estate)           31,885,355       41,788,884       32,523,099
     Other consumer                          8,565,509        8,255,142        8,276,860
     Home equity                            26,707,513       27,322,297       26,173,330
     Agricultural operating                 10,884,491       10,938,342       10,471,468
                                          ------------     ------------     ------------

Total loans receivable                     204,723,769      224,576,958      221,831,131

Less:
     Loans in process                        3,656,815        3,248,216        3,384,550
     Unearned loan fees and discounts          469,825          419,653          535,594
     Allowance for loan losses               1,617,510        1,758,263        2,090,500
     Other                                     211,821               --               --
                                          ------------     ------------     ------------

Loans receivable, net                     $198,767,798     $219,150,826     $215,820,487
                                          ============     ============     ============
</TABLE>

                                                                               5
<PAGE>

(3)      ADVANCES FROM FEDERAL HOME LOAN BANK

The Bank utilizes advances from the FHLB-Seattle to supplement its supply of
lendable funds and to meet deposit withdrawal requirements. The FHLB-Seattle
functions as a central reserve bank providing credit for savings associations
and certain other member financial institutions. As a member of the
FHLB-Seattle, the Bank is required to own capital stock in the FHLB-Seattle and
is authorized to apply for advances on the security of such stock and certain of
its mortgage loans and other assets (principally securities that are obligations
of, or guaranteed by, the U.S. Government) provided certain creditworthiness
standards have been met. Advances are made pursuant to several different credit
programs. Each credit program has its own interest rate and range of maturities.
Depending on the program, limitations on the amount of advances are based on the
financial condition of the member institution and the adequacy of collateral
pledged to secure the credit. The Bank is currently authorized to borrow from
the FHLB up to an amount equal to 42% of total assets, providing that the Bank
holds sufficient collateral. Advances from Federal Home Loan Bank at September
30, 2000, March 31, 2001, and September 30, 2001 were $80,824,186, $90,917,023,
and $78,551,468, respectively.

Scheduled maturities of advances from Federal Home Loan Bank were as follows:

<TABLE>
<CAPTION>
                                                                                   Five Years to
                                                                One Year to Less   Less than Ten     Greater than
At September 30, 2000:                      Less than One Year  than Five Years        Years           Ten Years
                                            ------------------  ---------------        -----           ---------
<S>                                         <C>                 <C>                <C>               <C>
Maturities of advances from FHLB              $ 76,424,052        $ 2,300,000        $ 750,000         $ 1,350,134
Range of interest rates                        5.08% - 6.69%      5.14% - 5.43%         5.19%               6.66%
Weighted average interest rate                      6.49%              5.29%            5.19%               6.66%
Percentage of total advances                       94.56%              2.84%            0.93%               1.67%

<CAPTION>
                                                                                   Five Years to
                                                                One Year to Less   Less than Ten     Greater than
At March 31, 2001:                          Less than One Year  than Five Years        Years           Ten Years
                                            ------------------  ---------------        -----           ---------
<S>                                         <C>                 <C>                <C>               <C>
Maturities of advances from FHLB              $ 48,372,055       $ 23,950,000       $ 17,274,000       $ 1,320,968
Range of interest rates                        4.73% - 6.66%      5.10% - 6.62%     4.87% - 5.62%           6.66%
Weighted average interest rate                      5.62%              5.68%             5.16%              6.66%
Percentage of total advances                       53.21%             26.34%            19.00%              1.45%

<CAPTION>
                                                                                   Five Years to
                                                                One Year to Less   Less than Ten     Greater than
At September 30, 2001:                      Less than One Year  than Five Years        Years           Ten Years
                                            ------------------  ---------------        -----           ---------
<S>                                         <C>                 <C>                <C>               <C>
Maturities of advances from FHLB              $ 16,574,000       $ 48,831,500       $ 11,850,000       $ 1,295,968
Range of interest rates                        3.68% - 6.58%      4.60% - 6.62%     4.87% - 5.48%           6.66%
Weighted average interest rate                      4.56%              5.47%             4.95%              6.66%
Percentage of total advances                       21.10%             62.17%            15.08%              1.65%
</TABLE>


(4)      DIVIDEND

On July 18, 2001, the Board of Directors declared a cash dividend of $0.10 per
common share to shareholders of record as of August 10, 2001. This dividend was
paid on August 24, 2001. On October 18, 2001, the Board of Directors declared a
cash dividend of $0.12 per common share to shareholders of record as of November
15, 2001. The dividend will be paid on November 29, 2001.

                                                                               6
<PAGE>

(5)      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 9/30/00         For the Six Months Ended 9/30/00
                                     ----------------------------------         --------------------------------
                                                   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                   $  533,175      1,395,559     $   0.38     $  928,171      1,415,310     $   0.66
                                                                 ========                                   ========
Effect of dilutive securities:
    Restricted stock awards                --         51,388                          --         55,552
                                   ----------     ----------                  ----------     ----------

Diluted EPS:
  Income available to common
    Stockholders - assumed
    Conversions                    $  553,175      1,446,947     $   0.37     $  928,171      1,470,862     $   0.63
                                   ==========     ==========     ========     ==========     ==========     ========

<CAPTION>
                                     For the Three Months Ended 9/30/01         For the Six Months Ended 9/30/01
                                     ----------------------------------         --------------------------------
                                                   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                   $  593,312      1,356,792     $   0.44     $1,174,691      1,372,325     $   0.86
                                                                 ========                                   ========
Effect of dilutive securities:
    Restricted stock awards                --         40,516                          --         55,133
                                   ----------     ----------                  ----------     ----------
Diluted EPS:
  Income available to common
    Stockholders - assumed
    Conversions                    $  593,312      1,397,308     $   0.43     $1,174,691      1,427,458     $   0.82
                                   ==========     ==========     ========     ==========     ==========     ========
</TABLE>

As of September 30, 2001 and September 30, 2000, outstanding options to purchase
162,400 and 157,300 shares of the Company's common stock were not included in
the computation of diluted EPS as their effect would have been antidilutive.


(6) EFFECT OF RECENTLY ISSUED ACCOUNTING STANDARDS

On July 6, 2001, the United States Securities and Exchange Commission published
Staff Accounting Bulletin No. 102 ("SAB 102"), Selected Loan Loss Allowance
Methodology and Documentation Issues, which provides guidance on the
development, documentation, and application of a systematic methodology for
determining allowances for loan and lease losses in accordance with generally
accepted accounting principles. In particular, the guidance focuses on the
documentation the staff normally would expect registrants to prepare and
maintain in support of their allowances for loan losses. The Company's adoption
of SAB 102 did not have any impact on its consolidated financial statements.

In September 2000, the Financial Accounting Standards Board issued Financial
Accounting Standards No. 140 ("SFAS 140"), Accounting for Transfers and
Servicing of Financial Assets and Liabilities. SFAS 140 revises certain criteria
promulgated in previous accounting literature (SFAS 125) for accounting for
securitizations and other transfers of financial assets and collateral and
requires additional disclosures concerning these activities. The accounting
requirements of SFAS 140 for securitizations and other transfers of financial
assets are effective for securitizations and transfers occurring on or after
April 1, 2001. The applicable disclosures were required to be adopted for the
Company's year end March 31, 2001, and accordingly, have been incorporated in
these Notes to the Consolidated Financial Statements. The Company adopted SFAS
140 as of the beginning of the fiscal year 2002. The adoption of SFAS 140 did
not have any impact on its consolidated financial statements.

                                                                               7
<PAGE>

In June 2001, the Financial Accounting Standards Board approved for issuance
Statement of Financial Accounting Standards No. 141 (SFAS 141), Business
Combinations. This standard eliminates the pooling method of accounting for
business combinations initiated after June 30, 2001. In addition, SFAS 141
addresses the accounting for intangible assets and goodwill acquired in a
business combination. This portion of SFAS 141 is effective for business
combinations completed after June 30, 2001. The Company does not expect SFAS 141
to have a material effect on the Company's financial position or results of
operations.

In June 2001, the Financial Accounting Standards Board approved for issuance
Statement of Financial Accounting Standards No. 142 (SFAS 142), Goodwill and
Intangible Assets, which revises the accounting for purchased goodwill and
intangible assets. Under SFAS 142, goodwill and intangible assets with
indefinite lives will no longer be amortized, but will be tested for impairment
annually and also in the event of an impairment indicator. SFAS 142 is effective
for fiscal years beginning after December 15, 2001, with early adoption
permitted for companies with fiscal years beginning after March 15, 2001 if
their first quarter financial statements have not previously been issued. The
Company does not expect SFAS 142 to have a material effect on the Company's
financial position or results of operations.

                                                                               8
<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
Exchange Act of 1934, as amended, 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 6 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, 2001.

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. Management
believes that the Company operates under a single business segment. 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. At September 30, 2001 the Bank had six offices in Idaho and two in
Washington.

Toward the end of September 2000, the Bank started offering online banking to
customers at no charge. The service is being outsourced to Equifax E-Banking
Solutions, Inc. and CheckFree Corporation. At September 30, 2001, 7.2% of the
Bank's checking customers were registered for online banking services. Although
there is gradual growth in the online banking services, it is management's
expectation for additional growth through increased customer exposure by
providing assistance to existing registrants and reviewing the most efficient
method to expose potentially beneficial customers that are not registered for
online banking services.

FINANCIAL CONDITION AT SEPTEMBER 30, 2001 AND MARCH 31, 2001

Assets increased from $281.1 million at March 31, 2001 to $291.2 million at
September 30, 2001. Cash and cash equivalents increased from $12.8 million at
March 31, 2001 to $27.3 million at September 30, 2001 as a result of an increase
in non-interest bearing deposits of $2.1 million, interest bearing deposits of
$0.2 million, and federal funds sold of $12.2 million. Available-for-sale
mortgage-backed securities decreased $6.3 million, of which $5.3 million was due
to the sale of investments. These proceeds were used to purchase bank owned and
other insurance policies with cash surrender values. Net loans receivable
decreased from $219.2 million at March 31, 2001 to $215.8 million at September
30, 2001. This change in net loans receivable resulted from an increase in
agricultural loans of $0.5 million, construction loans of $0.3 million, and
consumer loans of $0.1 million and a decrease in commercial loans of $2.6
million, home equity loans of $1.2 million, and residential loans of $0.5
million. Accrued interest receivable increased from $2.3 million at March 31,
2001 to $2.7 million at September 30, 2001 due to a higher average asset base in
loans. Cash surrender value of bank owned and other insurance policies increased
from $1.7 million at March 31, 2001 to $6.5 million at September 30, 2001. This
increase is the result of improving investment yield by purchasing bank owned
and other insurance policies with cash surrender values with the proceeds from
the sale of the available-for-sale mortgage-backed securities. Deposits
increased from $157.8 million at March 31, 2001 to $180.8 million at September
30, 2001 as a result of an increase in savings deposits of $0.4 million,
brokered CD's of $8.6 million, CD's of $2.2 million, non-interest checking
accounts of $1.4 million, interest checking accounts of $4.2 million, and money
market accounts of $6.2 million. Federal Home Loan Bank of Seattle (FHLB)
advances and other borrowings decreased from $90.9 million at March 31, 2001 to
$78.6 million at September 30, 2001. Accrued expenses and other liabilities
decreased from $2.2 million at March 31, 2001 to $2.1 million at September 30,
2001. It is the policy of the Bank to cease accruing interest on loans that are
delinquent 90 days or more. Non accrual loans increased from $1.2 million at
March 31, 2001 to $1.5 million at September 30, 2001. The economic conditions of
FirstBank Corporation's operating environment may cause future additions to
non-accrual loans.

                                                                               9
<PAGE>

RESULTS OF OPERATIONS FOR THREE MONTHS ENDED SEPTEMBER 30, 2000 AND 2001

Net income increased from $533,175 for the three months ended September 30, 2000
to $593,312 for the three months ended September 30, 2001.

Net interest income increased from $2.3 million for the three months ended
September 30, 2000 to $2.5 million for the three months ended September 30,
2001. Total interest income remained at $5.2 million for the three months ended
September 30, 2000 and 2001. The yield on interest earning assets decreased from
8.65% for the three months ended September 30, 2000 to 7.96% for the three
months ended September 30, 2001, which offsets the return on the $22.2 million
increase in average interest earning assets. The average balance of loans
receivable was $201.9 million in the second quarter of 2000 compared to $224.0
million in the second quarter of 2001. Interest income from investment
securities decreased from $153,000 for the three months ended September 30, 2000
to $150,000 for the three months ended September 30, 2001. The decrease is
primarily due to an overall lower yield on investment securities. Interest
income from mortgage-backed securities decreased from $370,000 for the three
months ended September 30, 2000 to $233,000 for the three months ended September
30, 2001. The decrease is due to the combination of an overall lower yield on
mortgage-backed securities and the sale of securities between the three month
periods ended September 30, 2000 and 2001. Interest expense decreased from $2.9
million for the three months ended September 30, 2000 to $2.7 million for the
same period in 2001. The decrease in interest expense is due to a decrease in
average FHLB advances and a decrease in weighted average rates on those
advances. The average FHLB advances balance for the three months ended September
30, 2000 was $92.4 million, whereas the average FHLB advances balance as of
September 30, 2001 was $85.9 million. The weighted average rate on FHLB advances
for the three months ended September 30, 2000 was 6.56%, whereas the weighted
average rate on FHLB advances as of September 30, 2001 was 5.30%.

Provision for loan losses are based upon management's consideration of economic
conditions which may affect the ability of borrowers to repay their 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 Bank's portfolio and the estimated fair value of the underlying collateral.
This evaluation is ongoing and results in variations in the Bank's provision for
loan losses. This analysis determines the allowance for loan and lease losses
standard percentage for the loan categories and the credit type of loans. As a
result of this evaluation, the Company's provision for loan losses increased
from $31,000 for the three months ended September 30, 2000 to $185,000 for the
three months ended September 30, 2001. The increase in provision for loan losses
is due to a 10% increase to the commercial and agricultural allowance for loan
and lease losses percentage based upon economic conditions.

Non-interest income increased from $709,000 for the three months ended September
30, 2000 to $991,000 for the three months ended September 30, 2001. The primary
reason for the increase in non-interest income is from the gain on sale of loans
and income generated from automated teller machine and merchant bank card
service fees.

Non-interest expense increased from $2.1 million for the three months ended
September 30, 2000 to $2.5 million for the three months ended September 30,
2001. The increase in compensation and employee related benefits expense of
$229,000 is a result of additional staff and anticipated additional compensation
and employee related benefits. The increase in other non-interest expense of
$128,000 is a result of merchant bank card, marketing, checking account
expenses, and other operating expense.

Income taxes decreased from an expense of $307,000 for the three months ended
September 30, 2000 to $279,000 for the same time period in 2001, due to
temporary timing difference.

                                                                              10
<PAGE>

RESULTS OF OPERATIONS FOR SIX MONTHS ENDED SEPTEMBER 30, 2000 AND 2001

Net income increased from $928,171 for the six months ended September 30, 2000
to $1,174,691 for the six months ended September 30, 2001.

Net interest income increased from $4.4 million for the six months ended
September 30, 2000 to $5.0 million for the six months ended September 30, 2001.
Total interest income increased from $10.1 million for the six months ended
September 30, 2000 to $10.5 million for the six months ended September 30, 2001.
Interest income from loans receivable increased from $8.7 million for the six
months ended September 30, 2000 to $9.3 million for the six months ended
September 30, 2001. The increase resulted from an increase in average commercial
loans receivable balance from $60,037 million at September 30, 2000 to $80,759
million at September 30, 2001. The weighted average yield on commercial loans
decreased from 9.37% at September 30, 2000 to 8.43% at September 30, 2001.
Interest income from mortgage-backed securities decreased from $740,000 for the
six months ended September 30, 2000 to $526,000 for the six months ended
September 30, 2001. The decrease in mortgage-backed securities is due to the
combination of an overall lower yield on mortgage-backed securities and the sale
of securities in the first quarter of fiscal year 2002. Interest income from
investment securities decreased from $309,000 for the six months ended September
30, 2000 to $303,000 for the six months ended September 30, 2001. Interest
expense decreased from $5.6 million for the six months ended September 30, 2000
to $5.5 million for the same period in 2001. The decease in interest expense is
due to a decrease in weighted average rate on total interest expense from 4.86%
to 4.33% for the six month periods ended September 30, 2000 and 2001,
respectively.

Provision for loan losses are based upon management's consideration of economic
conditions which may affect the ability of borrowers to repay their 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 Bank's portfolio and the estimated fair value of the underlying collateral.
This evaluation is ongoing and results in variations in the Bank's provision for
loan losses. This analysis determines the allowance for loan and lease losses
standard percentage for the loan categories and the credit type of loans. As a
result of this evaluation, the Company's provision for loan losses increased
from $133,000 for the six months ended September 30, 2000 to $414,000 for the
six months ended September 30, 2001. The increase in provision for loan losses
is due to a 20% increase to the commercial and agricultural allowance for loan
and lease losses percentage based upon economic conditions.

Non-interest income increased from $1.3 million for the six months ended
September 30, 2000 to $2.0 million for the six months ended September 30, 2001.
The increase in non-interest income is due to the gain on sale of loans, gain on
sale of securities, and income generated from automated teller machine, visa
check card, and merchant bank card service fees.

Non-interest expense increased from $4.2 million for the six months ended
September 30, 2000 to $4.9 million for the six months ended September 30, 2001.
The increase in compensation and employee related benefits expense of $472,000
is a result of additional staff and anticipated additional compensation and
employee related benefits. The increase in other non-interest expense of
$155,000 is mostly the result of increased expenses related to merchant bank
card, checking accounts, and marketing.

Income taxes increased from an expense of $421,000 for the six months ended
September 30, 2000 to $587,000 for the same time period in 2001, due to the
increase in income before income tax expense.

                                                                              11
<PAGE>

Average Balances, Interest and Average Yields/Costs

The following table sets forth certain information for the periods 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 daily balance of assets or
liabilities, respectively, for the periods presented.

<TABLE>
<CAPTION>
                                                  Year Ending                                Six Months Ending
                                                 March 31, 2001                             September 30, 2001
                                     --------------------------------------       --------------------------------------
                                                     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 (1):
Loans receivable:
Mortgage loans receivable            $  72,629      $   5,700          7.85%      $  74,958      $   2,860          7.63%
Commercial loans receivable             66,492          6,106          9.35          80,759          3,363          8.43
Construction loans receivable            5,485            581         10.59           6,183            349         11.29
Consumer loans receivable               34,677          3,097          8.93          35,639          1,532          8.60
Agricultural loans receivable           27,258          2,542          9.33          27,902          1,201          8.61
Unearned loan fees and
   discounts and allowance
   for loan losses                      (2,095)            --            --          (2,406)            --            --
                                     ---------      ---------      --------       ---------      ---------      --------
Loans receivable, net                  204,446         18,026          8.87         223,035          9,305          8.38
Mortgage-backed securities              20,279          1,439          7.10          15,654            526          6.72
Investment securities                   11,901            614          7.19          12,452            303          6.78
Other earning assets                    11,479            678          5.91          14,195            365          5.49
                                     ---------      ---------                     ---------      ---------
Total interest-earning assets          248,105         20,757          8.51         265,336         10,499          8.05
                                                    ---------                                    ---------

Non-interest-earning assets             17,802                                       18,737
                                     ---------                                    ---------
Total assets                         $ 265,907                                    $ 284,073
                                     =========                                    =========

Interest-earning liabilities:
Passbook, NOW and money
   market accounts                   $  63,486      $   1,186          1.87       $  68,493      $     587          1.71
Certificates of deposit                 83,670          4,823          5.76          93,683          2,488          5.31
                                     ---------      ---------                     ---------      ---------
Total deposits                         147,156          6,009          4.08         162,176          3,075          3.79

Advances from FHLB & other              88,747          5,608          6.32          89,621          2,387          5.33
                                     ---------      ---------                     ---------      ---------
Total interest-bearing
    liabilities                        235,903         11,617          4.92         251,797          5,462          4.33
                                                    ---------                                    ---------
Non-interest-bearing
    liabilities                          3,408                                        4,210
                                     ---------                                    ---------
Total liabilities                      239,311                                      256,007
Total stockholders' equity              26,596                                       28,066
                                     ---------                                    ---------

Total liabilities and
   total stockholders' equity        $ 265,907                                    $ 284,073
                                     =========                                    =========

Net interest income                                 $   9,140                                    $   5,037
                                                    =========                                    =========

Interest rate spread                                                   3.59%                                        3.72%
                                                                   ========                                     ========

Net interest margin                                      3.83%                                        3.94%
                                                    =========                                    =========

Ratio of average interest-
   earning assets to average
   interest- bearing liabilities                       105.17%                                      105.38%
                                                    =========                                    =========

<FN>
(1) Does not include interest on loans 90 days or more past due.
</FN>
</TABLE>
                                                                              12
<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, FHLB advances, and borrowings from the Portland Branch
Office of the Federal Reserve Bank of San Francisco. 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. Liquidity is being able to raise funds in a short period of time
without incurring a principle loss. The Company generally maintains sufficient
cash and short-term investments to meet short-term liquidity needs. At September
30, 2001, cash and cash equivalents totaled $27.3 million, or 9.36% of total
assets. In addition, the Company maintains a credit facility with the FHLB of
Seattle, which provides for immediately available advances. Advances under this
credit facility totaled $78.6 million at September 30, 2001. The Company also
maintains additional credit facilities with Wells Fargo Bank, and the Federal
Reserve Bank of San Francisco. The Company did not have any amounts outstanding
under these facilities as of September 30, 2001. The Bank also has used other
sources of funding when the need arises; brokered CD's (up to 15% of assets
under current Board policy) and the National CD's markets.

The primary investing activity of the Company is the origination of loans.
During the six month period ended September 30, 2001, the Company originated
loans based upon new production in the amounts of $102.9 million. At September
30, 2001, the Company had loan commitments totaling $32.8 million, undisbursed
lines of credit totaling $28.7 million, and undisbursed loans in process
totaling $3.4 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 September 30,
2001 totaled $68.6 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 September 30, 2001, 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 9.05%,
13.27% and 14.34%, respectively.

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 September 30, 2001, March 31, 2001
and September 30, 2000 as compared to the 10.00% Board approved policy limit.

September 30, 2001:         -200 BP                Flat               +200 BP
                            -------                ----               -------
                                          (Dollars in Thousands)
Year 1 NII                 $ 10,698              $ 10,947             $ 11,065
NII $ Change              ($    249)                   --             $    118
NII % Change                  -2.27%                   --                 1.08%


March 31, 2001:             -200 BP                Flat               +200 BP
                            -------                ----               -------
                                          (Dollars in Thousands)
Year 1 NII                 $ 10,183              $ 10,278             $ 10,279
NII $ Change              ($     95)                   --             $      1
NII % Change                  -0.92%                   --                 0.01%

                                                                              13
<PAGE>

September 30, 2000:         -200 BP                Flat               +200 BP
                            -------                ----               -------
                                          (Dollars in Thousands)
Year 1 NII                  $ 9,710              $ 9,418              $ 9,053
NII $ Change                $   292                   --             ($   365)
NII % Change                   3.10%                  --                -3.88%

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.

Effect of Recently Issued Accounting Standards

On July 6, 2001, the United States Securities and Exchange Commission published
Staff Accounting Bulletin No. 102 ("SAB 102"), Selected Loan Loss Allowance
Methodology and Documentation Issues, which provides guidance on the
development, documentation, and application of a systematic methodology for
determining allowances for loan and lease losses in accordance with generally
accepted accounting principles. In particular, the guidance focuses on the
documentation the staff normally would expect registrants to prepare and
maintain in support of their allowances for loan losses. The Company's adoption
of SAB 102 did not have any impact on its consolidated financial statements.

In September 2000, the Financial Accounting Standards Board issued Financial
Accounting Standards No. 140 ("SFAS 140"), Accounting for Transfers and
Servicing of Financial Assets and Liabilities. SFAS 140 revises certain criteria
promulgated in previous accounting literature (SFAS 125) for accounting for
securitizations and other transfers of financial assets and collateral and
requires additional disclosures concerning these activities. The accounting
requirements of SFAS 140 for securitizations and other transfers of financial
assets are effective for securitizations and transfers occurring on or after
April 1, 2001. The applicable disclosures were required to be adopted for the
Company's year end March 31, 2001, and accordingly, have been incorporated in
these Notes to the Consolidated Financial Statements. The Company adopted SFAS
140 as of the beginning of the fiscal year 2002. The adoption of SFAS 140 did
not have any impact on its consolidated financial statements.

In June 2001, the Financial Accounting Standards Board approved for issuance
Statement of Financial Accounting Standards No. 141 (SFAS 141), Business
Combinations. This standard eliminates the pooling method of accounting for
business combinations initiated after June 30, 2001. In addition, SFAS 141
addresses the accounting for intangible assets and goodwill acquired in a
business combination. This portion of SFAS 141 is effective for business
combinations completed after June 30, 2001. The Company does not expect SFAS 141
to have a material effect on the Company's financial position or results of
operations.

In June 2001, the Financial Accounting Standards Board approved for issuance
Statement of Financial Accounting Standards No. 142 (SFAS 142), Goodwill and
Intangible Assets, which revises the accounting for purchased goodwill and
intangible assets. Under SFAS 142, goodwill and intangible assets with
indefinite lives will no longer be amortized, but will be tested for impairment
annually and also in the event of an impairment indicator. SFAS 142 is effective
for fiscal years beginning after December 15, 2001, with early adoption
permitted for companies with fiscal years beginning after March 15, 2001 if
their first quarter financial statements have not previously been issued. The
Company does not expect SFAS 142 to have a material effect on the Company's
financial position or results of operations.

                                                                              14
<PAGE>

                       FIRSTBANK NW CORP. AND SUBSIDIARIES


PART II  -  OTHER INFORMATION

Item 1 - Legal Proceedings

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

     The Annual Meeting of Stockholders of the Company ("Meeting") was held on
     July 18, 2001. The results of the vote on the matters presented at the
     Meeting is as follows:

     1.  The following individuals were elected  as directors, each for a
         three-year term:

                                            Voted For            Vote Withheld
         William J. Larson                  1,389,225                9,860
         Larry K. Moxley                    1,389,325                9,760

         The terms of Directors James N. Marker, Robert S. Coleman, Sr., W. Dean
         Jurgens, Clyde E. Conklin, and Steven R. Cox continued after the
         meeting.

     2.  The FirstBank NW Corp. resolution to appoint BDO Seidman, LLP as
         independent auditors for the Company for the fiscal year ending March
         31, 2002 was approved by stockholders by the following vote:

                  For  1,386,270;  Against  11,302;  Abstain  1,513

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 (1)

                 10.1     Employment Agreement between FirstBank Northwest,
                          FirstBank Corp. and Clyde E. Conklin (2)

                 10.2     Employment Agreement between FirstBank Northwest,
                          FirstBank Corp. and Larry K. Moxley (3)

                 10.3     Salary Continuation Agreement between First Federal
                          Bank of Idaho, F.S.B. and Clyde E. Conklin (3)

                 10.4     Salary Continuation Agreement between First Federal
                          Bank of Idaho, F.S.B. and Larry K. Moxley (3)

         (1) Incorporated by reference to the Registrant's Amended Annual Report
             on Form 10-KSB/A for the year ended March 31, 2000.

         (2) Incorporated by reference to the Registrant's Annual Report on Form
             10-KSB for the year ended March 31, 2000.

         (3) Incorporated by reference to the Registrant's Registration
             Statement on Form SB-2, (File No. 333-23395).

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

                                                                              15
<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:  November 13, 2001         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


                                                                              16