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, 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)

                                FIRSTBANK CORP.

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 1,739,559 shares outstanding on September 30, 1999

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 September 30, 1999 and March 31, 1999                         1
         Consolidated Statements of Income
           For the three months and six months ended
           September 30, 1999 and 1998                                         2
         Consolidated Statements of Cash Flows                                 3
           For the six months ended September 30, 1999 and 1998
         Consolidated Statements of Comprehensive Income
           For the three months and six months ended
           September 30, 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                           7-10



PART II. OTHER INFORMATION

Item     1. Legal Proceedings                                                 11
Item     2. Changes in Securities and Use of Proceeds                         11
Item     3. Defaults Upon Senior Securities                                   11
Item     4. Submission of Matters to a Vote of Security Holders               11

<PAGE>
<TABLE>
<CAPTION>
PART I-FINANCIAL INFORMATION
Item 1-Financial Statements

                       FirstBank NW Corp. and Subsidiaries
                 Consolidated Statements of Financial Condition


                                                                                At September 30,  At  March 31,
                                                                                      1999            1999
                                                                                 -------------    -------------
                                                                                  (Unaudited)
<S>                                                                              <C>              <C>
ASSETS
Cash and cash equivalents:
  Non-interest bearing deposits                                                  $   4,418,045    $   4,724,214
  Interest bearing deposits                                                          2,585,945        1,502,672
  Federal funds sold                                                                 4,066,885        2,308,776
                                                                                 -------------    -------------
Total cash and cash equivalents                                                     11,070,875        8,535,662
                                                                                 =============    =============

Investment securities:
  Held-to-maturity                                                                          --          700,000
  Available-for-sale                                                                 6,666,129        6,535,812
Mortgage-backed securities:
  Held-to-maturity                                                                   2,573,171        2,738,545
  Available-for-sale                                                                12,965,510       10,134,850
Loans receivable, net                                                              176,869,152      165,617,367
Accrued interest receivable                                                          2,415,178        1,610,676
Real estate owned                                                                       67,998          298,713
Stock in FHLB, at cost                                                               3,288,975        2,501,975
Premises and equipment, net                                                          5,989,387        5,328,788
Income taxes receivable                                                                     --           25,431
Cash surrender value of life insurance policies                                      1,624,785        1,586,210
Mortgage servicing assets                                                              931,344          900,271
Other assets                                                                           158,542          230,786
                                                                                 -------------    -------------
TOTAL ASSETS                                                                     $ 224,621,046    $ 206,745,086
                                                                                 =============    =============

LIABILITIES AND STOCKHOLDERS' EQUITY
Liabilities:
  Deposits                                                                       $ 149,562,034    $ 133,278,136
  Advances from borrowers for taxes and insurance                                    1,412,855        1,427,915
  Advances from FHLB                                                                45,652,106       42,027,106
  Income taxes payable                                                                  18,704               --
  Deferred federal and state income taxes                                              138,131          421,000
  Accrued expenses and other liabilities                                             1,035,753        1,816,435
                                                                                 -------------    -------------
Total Liabilities                                                                  197,819,583      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;  1,739,789 and 1,839,559 shares outstanding,                       19,838           19,838
  Additional paid-in-capital                                                        18,769,018       18,720,476
  Retained earnings, substantially restricted                                       14,435,062       13,907,562
  Unearned ESOP shares                                                              (1,279,070)      (1,384,070)
  Deferred compensation                                                               (982,710)      (1,108,162)
  Treasury stock, at cost; 244,191 and 144,191 shares                               (3,785,831)      (2,333,706)
  Accumulated comprehensive income (loss):                                            (374,844)         (47,444)
                                                                                 -------------    -------------
Total Stockholders' Equity                                                          26,801,463       27,774,494
                                                                                 -------------    -------------
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY                                       $ 224,621,046    $ 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 September 30, Six-months ended September 30,
                                                            -------------------------------- ------------------------------
                                                                   1999           1998          1999            1998
                                                                ----------     ----------     ----------       ----------
                                                                                     (Unaudited)
<S>                                                           <C>            <C>            <C>             <C>
Interest income:
  Loans receivable                                            $  3,726,323   $  3,467,800   $  7,410,227    $ 6,656,442
  Mortgage-backed securities                                       185,037        161,860        337,900        329,938
  Investment securities                                             85,657         71,115        168,791        138,910
  Other interest earning assets                                    132,675        217,301        290,027        378,109
                                                              ------------   ------------   ------------    -----------
Total interest income                                            4,129,692      3,918,076      8,206,945      7,503,399

Interest expense:
  Deposits                                                       1,329,559      1,236,110      2,560,127      2,455,542
  Advances from FHLB                                               708,952        637,004   s  1,380,958      1,162,416
                                                              ------------   ------------   ------------    -----------
Total interest expense                                           2,038,511      1,873,114      3,941,085      3,617,958

Net interest income                                              2,091,181      1,236,110      4,265,860      3,885,441
Provision for loan losses                                           73,421         65,032        207,548        200,768
                                                              ------------   ------------   ------------    -----------
Net interest income after provision for loan losses              2,017,760      1,979,930      4,058,312      3,684,673

Non-interest income:
  Gain on sale of loans                                            370,222        394,492        619,007        838,446
  Service fees and charges                                         314,757        253,163        608,760        584,553
  Commissions and other                                             22,430         20,552         46,203         60,189
                                                              ------------   ------------   ------------    -----------
Total non-interest income                                          707,409        668,207      1,273,970      1,483,188

Non-interest expense:
  Compensation and related benefits                              1,149,449      1,032,935      2,361,344      1,982,819
  Occupancy                                                        299,241        217,929        528,114        432,950
  Other                                                            524,078        610,154      1,236,143      1,266,743
                                                              ------------   ------------   ------------    -----------
Total non-interest expense                                       1,972,768      1,861,018      4,125,601      3,682,512

Income before income tax expense                                   752,401        787,119      1,206,681      1,485,349
Income tax expense                                                 228,791        291,928        391,373        539,579
                                                              ------------   ------------   ------------    -----------
Net income                                                    $    523,610   $    495,191   $    815,308     $  945,770
                                                              ============   ============   ============     ==========

Earnings per share (Note 2):
  Net income per share -basic                                        $0.33          $0.28          $0.52          $0.52
  Net income per share -diluted                                      $0.32          $0.27          $0.49          $0.52
  Weighted average shares outstanding -basic                     1,565,035      1,776,211      1,582,188      1,807,564
  Weighted average shares outstanding -diluted                   1,639,900      1,802,217      1,659,270      1,820,495

See accompanying notes to consolidated financial statements

                                                                                                                      2
</TABLE>
<PAGE>
<TABLE>
<CAPTION>

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

                                                                                     Six-months ended September 30,
                                                                                         1999             1998
                                                                                     -------------    -------------
                                                                                               (Unaudited)
<S>                                                                                  <C>              <C>
   Cash flows from operating activities:
     Net income                                                                      $     815,308    $     945,770
     Adjustments to reconcile net income to net cash used in operating activities:
       Depreciation and amortization                                                       709,141          234,587
       Provision for loan losses                                                           207,548          200,768
       Gain on sale of loans                                                              (619,007)        (838,446)
       FHLB stock dividends                                                               (105,100)         (83,189)
       ESOP compensation expense                                                           153,542          144,539
       Other (gains) losses, net                                                            17,167           49,935
       Provision for real estate owned                                                     125,452           20,410
       Deferred compensation expense                                                        33,960           63,006
       Deferred income taxes                                                               (53,763)          (2,416)
    Changes in assets and liabilities:
       Accrued interest receivable and other assets                                       (763,330)        (999,711)
       Accrued expenses and other liabilities                                             (814,643)        (597,528)
       Income taxes receivable (payable)                                                    44,135          736,710
                                                                                     -------------    -------------
   Net cash used in operating activities                                                  (249,590)        (125,565)

   Cash flows from investing activities:
     Purchase of mortgage-backed securities; available-for-sale                         (5,000,000)      (2,128,941)
     Proceeds from maturities of mortgage-backed securities; held-to-maturity              158,306        2,548,505
     Proceeds from maturities of mortgage-backed securities; available-for-sale          1,713,399               --
     Purchase of investment securities; available for sale                                (595,000)      (2,250,000)
     Proceeds from maturities of investment securities; held-to-maturity                   700,000          750,000
     Decrease in loans receivable from loans sold                                       52,765,149       24,984,132
     Other net change in loans receivable                                              (63,629,597)     (34,016,113)
     Purchase of FHLB stock                                                               (681,900)        (215,012)
     Purchases of premises and equipment                                                  (998,554)        (287,956)
     Net increase in cash surrender value of life insurance policies                       (38,575)        (148,177)
     Proceeds from sale of real estate owned                                               237,670          728,531
     Proceeds from sale of fixed assets                                                         --          336,357
                                                                                     -------------    -------------
                                                                                       (15,369,102)      (9,698,674)
Net cash used in investing activities

   Cash flows from financing activities:
     Cash paid for dividends                                                              (287,809)        (286,907)
     Net increase in deposits                                                           16,283,898        8,669,462
     Advances from borrowers for taxes and insurance                                       (15,059)           3,456
     Advances from FHLB                                                                147,675,168       48,230,000
     Payments on advances from FHLB                                                   (144,050,168)     (36,658,473)
     Purchase of treasury stock                                                         (1,452,125)      (2,024,779)
                                                                                     -------------    -------------
   Net cash provided by financing activities                                            18,153,905       17,932,759
                                                                                     -------------    -------------

   Net increase in cash and cash equivalents                                             2,535,213        8,108,520

   Cash and cash equivalents, beginning of period                                        8,535,662        8,416,820
                                                                                     -------------    -------------
   Cash and cash equivalents, end of period                                          $  11,070,875    $  16,525,340
                                                                                     =============    =============

   Supplemental  disclosures  of cash flow  information:  Cash paid  during  the
     period for:
        Interest                                                                     $   2,566,136    $   2,465,129
        Income taxes                                                                 $     367,883    $      18,934
     Noncash investing and financing activities:
        Unrealized (gains) losses on securities; available-for-sale, net of tax      $     327,400    $     (32,321)
        Loans receivable charged to the allowance for loan losses                    $      21,117    $      23,459
        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 September 30,   Six-months ended September 30,
                                                                  1999           1998             1999            1998
                                                              ------------   ------------     ------------    -----------
                                                                                       (Unaudited)
<S>                                                            <C>            <C>             <C>             <C>
Net income                                                        $523,610       $495,191        $815,308      $ 945,770
Other comprehensive income (loss), net of tax:
       Change in unrealized gains (losses) on securities;
             available-for-sale, net of tax                      (200,847)         53,873        (327,400)        32,321
                                                              ------------   ------------    ------------    -----------
       Net other comprehensive income (loss)                     (200,847)         53,873        (327,400)        32,321
                                                              ------------   ------------     ------------   -----------
Comprehensive income                                              $322,763       $549,064         $487,908      $978,091
                                                              ============   ============     ============    ==========

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 six  months  ended
September  30,  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 six  months  ended  September  30,  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  (loss) 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 9/30/99              For the Six Months Ended 9/30/99
                                ------------------------------------------     ------------------------------------------
                                                 Weighted-       Per-Share                      Weighted-       Per-Share
                                 Net Income    Average Shares      Amount      Net Income     Average Shares      Amount
                                -----------    --------------    ---------     ----------     --------------    ---------
Basic EPS:
Income available to common
<S>                              <C>                <C>            <C>           <C>              <C>             <C>
    stockholders                 $523,610           1,565,035      $ 0.33        $815,308         1,582,188       $ 0.52
                                                                   ======                                         ======
Effect of dilutive securities:
    Restricted stock awards            --              74,865                          --            77,082
                                ---------           ---------                    --------         ---------

Diluted EPS:
  Income available to common
    stockholders - assumed
    conversions                 $ 523,610           1,639,900      $ 0.32        $815,308         1,659,270       $ 0.49
                                =========           =========      ======        ========         =========       ======


                                    For the Three Months Ended 9/30/98                For the Six Months Ended 9/30/98
                                ------------------------------------------      -----------------------------------------
                                                 Weighted-       Per-Share                      Weighted-       Per-Share
                                Net Income     Average Shares      Amount      Net Income     Average Shares      Amount
                                -----------    --------------    ---------     ----------     --------------    ---------
Basic EPS:
Income available to common
    stockholders                $ 495,191           1,776,211      $ 0.28        $945,770         1,807,564       $ 0.52
                                                                   ======                                         ======
Effect of dilutive securities:
    Restricted stock awards            --              26,006                          --            12,931
                                ---------           ---------                    --------         ---------

Diluted EPS:
  Income available to common
    stockholders - assumed
    conversions                 $ 495,191           1,802,217      $ 0.27        $945,770         1,820,495       $ 0.52
                                =========           =========      ======        ========         =========       ======

At September 30, 1999,  outstanding  options to purchase  171,350  shares of the
Company's  common stock were not included in the  computation  of diluted EPS as
their effect would have been antidilutive.

                                                                                                                       5
</TABLE>
<PAGE>

(3) DIVIDEND

On July 21, 1999,  the Board of Directors  declared a cash dividend of $0.09 per
common share to  shareholders  of record as of August 12, 1999. The dividend was
paid on August 26, 1999.  On October 21, 1999,  the Board of Directors  declared
another cash dividend of $0.09 per common share to  shareholders of record as of
November 18, 1999. This dividend will be paid on December 2, 1999.

                                                                               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 August  1997,  the Bank  opened a retail  branch  in  Clarkston,
Washington.  The Bank now has offices in Idaho and Washington.  In January 1998,
the Bank changed its charter to a Washington state savings bank.

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.

On September 21, 1998, the Company received FDIC approval to begin  construction
of  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 will be the seventh retail branch for the Company, the second
in Washington  State,  and will have six employees,  including one loan officer.
The branch grand opening will be November 18, 1999. The annual lease expense for
the land is  $30,000,  and the  expected  capitalized  cost of  construction  is
$750,000.

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 eighth 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 SEPTEMBER 30, 1999 AND MARCH 31, 1999

Assets  increased  from $206.8  million at March 31,  1999 to $224.6  million at
September 30, 1999.  Cash and cash  equivalents  increased  from $8.5 million at
March 31, 1999 to $11.1 million at September 30, 1999 as a result of an increase
in deposits. Loans receivable increased from $165.6 million at March 31, 1999 to
$176.9 million at September 30, 1999 as a result of an increase in  agricultural
operating lending of $5.9 million, home equity loans of $3.4 million, commercial
real estate loans of $3.4 million and residential loans of $3.3 million. Accrued
interest  receivable  increased  from $1.6  million  at March  31,  1999 to $2.4
million at September  30, 1999 due to a higher  average asset base in securities
and loans.  Deposits  increased  from $133.3 million at March 31, 1999 to $149.6
million at September  30, 1999 as a result of a $7.2  million  increase in money
market accounts and $6.8 million in brokered  certificates  of deposit.  Federal
Home Loan Bank of Seattle (FHLB) advances  increased from $42.0 million at March
31, 1999 to $45.7 million at September 30, 1999.  The increase in FHLB borrowing
was used to fund loan growth.  Accrued expenses and other liabilities  decreased
from $1.8 million at March 31, 1999 to $1.0 million at September 30, 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
$390,000 at September 30, 1999.

                                                                               7
<PAGE>
RESULTS OF OPERATIONS FOR THREE MONTHS ENDED SEPTEMBER 30, 1999 AND 1998

Net income increased from $495,000 for the three months ended September 30, 1998
to $524,000 for the three months ended September 30, 1999.

Net  interest  income  increased  from $2.0  million for the three  months ended
September  30, 1998 to $2.1  million for the three months  ended  September  30,
1999.  Total  interest  income  increased from $3.9 million for the three months
ended  September  30, 1998 to $4.1 million for three months ended  September 30,
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 9.07% for the three months ended  September  30,
1998 compared to the weighted average yield for the three months ended September
30, 1999 of 8.38%. The average balance of loans receivable was $155.5 million in
the second  quarter of 1998 compared to $179.4  million in the second quarter of
1999. Interest income from investment  securities increased from $71,000 for the
three  months  ended  September  30, 1998 to $86,000 for the three  months ended
September  30,  1999.  The  increase  is  primarily  due to an  increase  in the
portfolio balance.  Interest income from  mortgage-backed  securities  increased
from $162,000 for the three months ended  September 30, 1998 to $185,000 for the
three  months ended  September  30,  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  September  30,  1998 to $2.0  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 a decrease in
weighted  average  rates.  The  weighted  average rate on deposits for the three
months ended  September 30, 1999 was 3.70% whereas the weighted  average rate on
deposits as of September 30, 1998 was 4.15%.  The weighted  average rate on FHLB
advances for the three months ended  September  30, 1999 was 5.57%,  whereas the
weighted average rate on FHLB advances as of September 30, 1998 was 5.79%.

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  increased  from  $65,000 for the three  months ended
September 30, 1998 to $73,000 for the three months ended September 30, 1999.

Non-interest income increased from $668,000 for the three months ended September
30, 1998 to $707,000 for the three months ended  September 30, 1999. The primary
reason for the increase is the income from service fees and other charges, which
increased $62,000.

Non-interest  expense  increased  from $1.9  million for the three  months ended
September  30, 1998 to $2.0  million for the three months  ended  September  30,
1999.  The increase in  compensation  and other related  expenses of $116,000 is
caused by  additional  staff for new  branches and  compensation  related to the
Management Recognition and Development Plan.

Income  taxes  decreased  from an expense of $292,000 for the three months ended
September  30, 1998 to expense of $229,000  for the same time period in 1999 due
to a decrease in income before income tax expense.


RESULTS OF OPERATIONS FOR SIX MONTHS ENDED SEPTEMBER 30, 1999 AND 1998

Net income  decreased from $946,000 for the six months ended  September 30, 1998
to $815,000 for the six months ended September 30, 1999.

Net  interest  income  increased  from $3.9  million  for the six  months  ended
September 30, 1998 to $4.3 million for the six months ended  September 30, 1999.
Total  interest  income  increased  from $7.5  million for the six months  ended
September 30, 1998 to $8.2 million for six months ended  September 30, 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 8.66% for
the six months ended  September 30, 1998 compared to the weighted  average yield
for the six months ended  September 30, 1999 of 8.14%.  The average  balance for
loans  receivable was $152.4 million during the six-months  ended  September 30,
1998 compared to the  six-months  ended  September  30, 1999 average  balance of
$175.6  million.  Interest  income from  investment  securities  increased  from
$139,000  for the six months  ended  September  30, 1998 to $169,000 for the six
months ended September 30, 1999. The increase is primarily due to an increase in
the portfolio balance while the yield decreased from 8.77% at September 30, 1998
to 7.66% at September 30, 1999. Interest income from mortgage-backed  securities
increased from $330,000 for the six months ended  September 30, 1998 to $338,000
for the six months ended  September 30, 1999. The increase is due primarily to a
higher average balance. Interest expense increased from $3.6 million for the six
months  ended  September  30,  1998 to $3.9  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 a decrease  in
weighted average rates. The weighted average rate on deposits for the six months
ended  September  30,  1999 was 3.68%,  whereas  the  weighted  average  rate on
deposits for the  six-months  ended  September 30, 1998 was 4.17%.  The weighted
average rate on FHLB  advances for the six months ended  September  30, 1999 was
5.60%,  whereas the weighted  average rate on FHLB  advances for the  six-months
ended September 30, 1998 was 5.74%.

                                                                               8
<PAGE>
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  increased  from  $201,000  for the six months  ended
September 30, 1998 to $208,000 for the six months ended September 30, 1999.

Non-interest  income  decreased  from  $1.5  million  for the six  months  ended
September 30, 1998 to $1.3 million for the six months ended  September 30, 1999.
The  primary  reason  for the  decrease  is the gain on sale of loans  decreased
$219,000 due to a decrease in loan volume.

Non-interest  expense  increased  from $3.7  million  for the six  months  ended
September 30, 1998 to $4.1 million for the six months ended  September 30, 1999.
The increase in compensation and other related expenses of $378,000 is caused by
additional  staff for new branches and  compensation  related to the  Management
Recognition  and  Development  Plan.  Other  expenses that  increased  were data
processing  increasing by $63,000,  and other start-up expenses  associated with
opening new branches.

Income  taxes  decreased  from an expense of $540,000  for the six months  ended
September  30, 1998 to an expense of  $391,000  for the same time period in 1999
due to a decrease in income before income tax expense.


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 September 30, 1999, cash and
cash equivalents  totaled $11.1 million,  or 4.93% 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
$45.7 million at September 30, 1999.

         The primary  investing  activity of the Company is the  origination  of
loans.  During the  quarters  ended  September  30,  1998 and 1999,  the Company
originated   loans  in  the  amounts  of  $84.0   million  and  $73.0   million,
respectively.  At September 30, 1999, the Company had loan commitments  totaling
$25.9  million,   undisbursed  lines  of  credit  totaling  $15.4  million,  and
undisbursed loans in process totaling $3.9 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, 1999  totaled  $66.9  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, 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 10.21%,
14.41% and 15.38%, respectively.

Year 2000 Issues

         The  Year  2000  issue  exists   because  many  computer   systems  and
applications  use two-digit date fields to designate a year. As the century date
change  occurs,  date-sensitive  systems may recognize the Year 2000 as 1900, or
not at all.  This  inability to  recognize  or properly  treat the Year 2000 may
cause systems to process financial and operational information incorrectly.  The
Company has  developed a plan and created a committee  of the Board of Directors
to analyze  how the Year 2000 will  impact  its  operations  and to monitor  the
status of its vendors. The following guidelines identify the five steps provided
by The Federal Financial Institutions Examination Council ("FFIEC"):

         Awareness  Phase - Define the Year 2000  problem  and  establish a Year
2000 program team and overall strategy. The Company as of September 30, 1997 had
completed this step.

                                                                               9
<PAGE>
         Assessment  Phase - Assess the size and  complexity  of the problem and
detail the magnitude of effort necessary to address Year 2000 issues,  including
hardware,  software,  networks,  automated teller  machines,  etc. This step was
completed by September 30, 1999.

         Renovation Phase - This phase includes  hardware and software  upgrades
and system  replacements.  This step was 100%  complete for in-house  systems at
December 31, 1998.  This phase also  encompasses  ongoing  discussions  with and
monitoring of outside servicers and third- party software providers.

         Validation/Testing  Phase - This process  includes  testing of hardware
and software components. Testing is completed by performing extensive tests with
the  computer  dates  changed to January 1, 2, and 3,  2000.  Such  testing  was
completed by June 30, 1999, with the most critical  functions tested first. This
allows  time to  correct  any  discovered  deficiencies  before the end of 1999.
In-house  systems and third party  service  bureaus were 100% tested as of March
31,  1999.  The  Company  is either  testing  or  reviewing  test  documents  of
additional third party vendors that are deemed critical to the operations of the
Company. The validation phase was approximately 99% complete as of September 30,
1999 and will be ongoing until the Year 2000.

         Implementation Phase - Systems successfully tested will be certified as
Year 2000 compliant.  For any system failing  validation  testing,  the business
impact must be  assessed  and a  contingency  plan  implemented.  This phase was
completed by June 30, 1999.

         Critical  data  processing  applications  have been  identified.  These
include  applications such as electronic  processing through the Federal Reserve
Bank and ATM  processing.  Testing  with Federal  Reserve has been  successfully
completed.  All ATM machines have been upgraded and are now ready for Year 2000.
Contingency  plans are also being  developed by the committee.  The  contingency
plans address actions to be taken to continue  operations in the event of system
failure due to areas that cannot be tested in  advance,  such as power  service,
which are vital to business continuation.  Contingency planning was completed by
June 30, 1999.

         All new  commercial and  agricultural  loans over $100,000 are assessed
for Year 2000  risk.  Loans are then rated  low,  medium or high risk.  A higher
reserve level will be maintained  for medium and high-risk  loans.  All existing
commercial and agriculture  loans over $100,000 have been rated: 1 loan rated at
the highest risk and 12 at medium risk.

         The Bank has assessed its  liquidity  needs and believes  there will be
adequate funds available from FHLB or the Portland Federal Reserve.

         In June 1999,  the Bank  converted from a service bureau to an in-house
computer system.  This system is a client/server  system that was developed from
1992 to 1996 with Year 2000  compliance  as a priority.  Part of the  conversion
process was to test the interfaces to outside  vendors.  The Bank has a complete
separate system set up solely for the purpose of Year 2000 testing. Test scripts
were run in June after the  conversion.  There were no problems with changing to
the Year 2000 test dates.

         There can be no guarantee that the systems of other  companies on which
the Bank's systems rely will be fully functional, or timely converted, or that a
failure to convert by another company, or a conversion that is incompatible with
the Banks systems would not have a material adverse effect on the Bank. However,
the Bank has tested  for the Y2K  preparedness  of all  internal  functions  and
external functions provided by third parties whenever possible and do not expect
to experience any significant  failures.  In addition,  contingency or alternate
sources of support  have been  identified  for each  critical  function and many
non-critical  functions. In the event that the Bank's data processing providers'
systems  prove not to be Y2K  compliant and the Bank is not able to switch to an
alternative provider in a timely manner,  resulting computer  malfunctions could
interrupt the  operations of the Bank and have a significant  adverse  effect on
the Bank's financial condition and results of operations.

                                                                              10
<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


     The Annual Meeting of Stockholders  of the Company  ("Meeting") was held on
July 21, 1999.  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
              James N. Marker         1,643,960             17,587
              Robert S. Coleman, Sr.  1,643,960             17,587

         The  terms of  Directors  Steve R. Cox,  Larry K.  Moxley,  William  J.
         Larson,  W. Dean  Jurgens,  and Clyde E.  Conklin  continued  after the
         meeting.


     2.  The  FirstBank  Corp.  resolution  to  change  the  Company's  state of
         incorporation  from  Delaware to  Washington  through the merger of the
         Company with a newly  formed  wholly owned  Washington  subsidiary  was
         approved by stockholders by the following vote:

              For 1,246,607;  Against 14,341; Abstain 4,457


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.

                                                                              11
<PAGE>
         (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
                  On  September  2,  1999,  the  Company  filed a Form  8-K
                  relating to changing its state of incorporation  from Delaware
                  to Washington and changing its name to FirstBank NW Corp.




                                   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 12, 1999      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

                                                                              12