Sunday, April 20, 2014
YOLO COUNTY NEWS
99 CENTS

PremierWest Bank agrees to merger

PremierWest Bank and AmericanWest Bank announced Thursday that holders of a majority of PremierWest Bancorp’s common stock have voted to approve the proposed merger of the two companies. The proxy vote was announced at the reconvened special meeting of shareholders in Medford, Ore.

Regulatory approval has already been received, and the merger is expected to close in April.

“We are very pleased to announce the approval of the merger by our common shareholders. We believe that the merger will benefit our employees and customers by partnering with the significant resources of AmericanWest Bank,” said Jim Ford, president and CEO of PremierWest Bancorp.

“On behalf of our team, I want PremierWest Bank customers and communities to know that we look forward to bringing together our two community banks and augmenting the outstanding service you have come to expect with our strong capital position, comprehensive products and services, and a commitment to local decision-making,” said Scott A. Kisting, chairman and CEO of AmericanWest Bank.

“We look forward to exceeding your expectations in the days and years to come and stand ready to continue earning your business.”

PremierWest Bancorp, headquartered in Medford, operates primarily through its subsidiary, PremierWest Bank, which has a Davis branch at 333 F St.

PremierWest Bank was created following the merger of the Bank of Southern Oregon and Douglas National Bank in May 2000. Over the years, it has acquired banks in Siskiyou, Tehama and Butte counties as well as Stockmans Bank in Sacramento. In the past several years, PremierWest expanded into Klamath Falls, Bend and Redmond, Ore., as well as into Nevada and Butte counties in California.

Based in Spokane, Wash., AmericanWest Bank is a business-focused community bank offering commercial and small business banking, mortgage lending, treasury management products as well as a full suite of personal banking products. The bank has operates 80 branches in California, Washington, Idaho and Utah.

Enterprise staff

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