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AmericanWest narrows losses

AmericanWest Bancorporation today reported a net loss for the first quarter of $8.5 million, or 50 cents per share, down significantly from prior quarter and prior year levels.

The Spokane parent of AmericanWest Bank lost $17.7 million, or $1.03 per share during the fourth quarter of 2009, and $14.5 million, or 84 cents per share, during the first quarter of 2009.

A $5 million provision for loan losses was the lowest since the third quarter of 2007.

Total assets, at $1.6 billion; net loans, at $1.2 billion; and deposits, at $1.4 billion, were off from first-quarter 2009 levels.

Capital levels remained significantly below regulatory requirements. The Tier 1 capital to average assets ratio was .21 percent at the holding company, and 2.78 percent at the bank, compared with the four percent required. 

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Bert Caldwell
Bert Caldwell oversees production of the opinion pages, including writing editorials, and editing and selecting letters, columns and cartoons.