The Biz Buzz

Get the most up-to-date news, insights and analysis of Tacoma, Pierce County and South Puget Sound business.

NOTICE: The Biz Buzz has moved.

With the launch of our new website, we've moved The Biz Buzz.
Visit the new section.

AmericanWest Bank expands into Oregon with PremierWest Bank acquisition

Post by C.R. Roberts / The News Tribune on Oct. 31, 2012 at 12:35 pm |
October 31, 2012 12:35 pm

The bank mergers continue as AmericanWest Bank of Spokane has announced an agreement with PremierWest Bank of Medford, Ore.

Pending approval by regulators and shareholders, the combined bank will allow AmericanWest to expand into Oregon. AmericanWest has recently reported assets of $2.4 billion, and PremierWest $1.2 billion. PremierWest operates 32 locations in Western Oregon and Northern California while AmericanWest operates 75 branches in Washington, Califonia, Idaho and Utah.

AmericanWest earlier this year acquired Inland Community Bank and Security Business Bank, both based in Southern California.

In the PremierWest transaction, shareholders will receive cash at $1.65 per share upon closing, or an aggregate $16.6 million.

Both banks expect the deal to close during the first half of 2013, according to an AmericanWest release.

The News Tribune now uses Facebook commenting on selected blogs. See editor's column for more details. Commenters are expected to abide by terms of service for Facebook as well as commenting rules for Report violators to