PRESS RELEASE
April 23, 2002

 

Contact
Jim Arneson, Chief Financial Officer
(360) 459-1100
(360) 459-0137 (fax)

 

First Community Financial Group Announces Stock Repurchase Plan

 

LACEY, Wash. - April 23, 2002 - First Community Financial Group, Inc., announced that on Monday, April 22, 2002, its board of directors authorized a stock repurchase program. Under the program the company will buy up to 50,000 shares of the Company's common stock or approximately 2% of the total common shares currently outstanding. The stock repurchase program authorizes the company to make scheduled purchases over time in either privately negotiated transactions or through the open market. The planned repurchases will, among other things, be subject to applicable federal securities laws. Additionally, in a separate transaction, the Company is in the process of negotiating a private transaction to repurchase up to 36,666 shares of stock from certain shareholders of the company. There is no assurance that this transaction will be consummated.

 

First Community Financial Group is the parent company of First Community Bank. FCB, with 19 offices in four western Washington counties, offers a full spectrum of financial services including commercial, construction, residential, and consumer lending, deposit products and other banking services. The bank also provides a broad range of investment services through its subsidiary FCB Financial Services, Inc. Further information about the bank may be found at www.fcbonline.com.

 

Certain statements contained herein may constitute forward-looking statements within the meaning of the federal securities laws. Actual results and the timing of certain events could differ materially from those projected in the forward-looking statements due to a number of factors. Such risks and uncertainties with respect to the Company include those related to the economic environment, particularly in the region in which the company operates, competitive products and pricing, fiscal and monetary policies of the federal government, changes in government regulations affecting financial institutions, including regulatory fees and capital requirements, changes in prevailing interest rates, acquisitions and the integration of acquired businesses, credit risk management and asset / liability management, the financial and securities markets and the availability of and costs associated with sources of liquidity.

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