AmericanWest Bank Completes Acquisition of PremierWest Bank; Names Local Leadership
April 09 2013 - 7:05PM
Business Wire
PremierWest Bank is now AmericanWest Bank. Today, AmericanWest
Bank’s holding company completed the acquisition of PremierWest
Bancorp (NASDAQ: PRWT), the parent company of PremierWest Bank,
based in Medford, Oregon. Immediately following the close,
PremierWest Bank was merged into, and became part of, AmericanWest
Bank.
“On behalf of our entire company, I welcome the valued customers
and talented employees of PremierWest Bank to AmericanWest Bank,”
said Scott A. Kisting, Chairman and CEO, AmericanWest Bank.
“Customers will continue receiving outstanding service from the
bankers they’ve come to trust, now with the benefit of immediate
access to increased lending capabilities and an expanded network of
locations.”
The PRWT shareholders approved the sale on March 28, 2013 at a
special shareholder meeting. The necessary regulatory approvals had
been received previously, clearing the way for the completion of
the sale.
At the close of the transaction, AmericanWest Bank’s assets
totaled $3.8 billion and the Bank’s footprint expanded to 112
branches. Customers will continue to access their accounts as they
always have, including using their existing debit cards, checks,
online banking and branch locations.
Additionally, today Mike Koch was named President of the Bank’s
Oregon and Northern California Region. Koch has more than 23 years
of banking experience, including expertise in business lending,
special assets and all aspects of consumer lending. He is a
graduate of Pacific Coast Banking School.
“Mike is one of our very best — a highly skilled banker with a
history of actively engaging employees and the community,” Kisting
said. “Mike and his family are settling in Medford and his first
priority is getting to know the employees and customers throughout
the region and I am confident they will appreciate his energetic
leadership style and unwavering commitment to community
banking.”
Founded in 1974 and based in Spokane, Washington, AmericanWest
Bank is a business-focused community bank offering commercial and
small business banking, mortgage lending, treasury management
products as well as a full line of consumer products and services.
The Bank now has locations in, Washington, Oregon, California,
Idaho and Utah. Learn more about us at www.awbank.net
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