Deal is largest to date for Spokane bank
AmercianWest Bank completed its $16.6 million purchase of an Oregon bank this week, adding 32 branches to its network.
Spokane-based AmericanWest now has a major presence in Oregon and California after acquiring PremierWest Bancorp of Medford.
The deal includes AmericanWest also repaying the U.S. Treasury’s $41.4 million investment in PremierWest as part of the Troubled Assest Relief Program, or TARP.
AmericanWest now has 112 branches across five states and assets of $3.8 billion. The PremierWest buyout is its largest to date.