April 10, 2013 in Business

AmericanWest bank buys Oregon lender

Deal is largest to date for Spokane bank
Staff reports
 

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.

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