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Acquisition of PremierWest Bank finalized

 Posted: 5:10 PM April 09, 2013

PremierWest Bank is no more.

The private equity owner of Spokane, Wash.-based AmericanWest Bank closed its transaction today, assuming control of PremierWest's 32 branches and more than 300 employees.

Mike Koch, who has overseen several departments for AmericanWest Bank during a tenure of more than eight years, was named president of the bank's Oregon and Northern California Region — the erstwhile PremierWest footprint.

"Mike is one of our very best — a highly skilled banker with a history of actively engaging employees and the community," Chairman and Chief Executive Officer Scott Kisting said in a statement. "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."

Kisting said PremierWest customers will have immediate access to lending capabilities slowed by regulatory restrictions on PremierWest.

The acquisition boosts AmericanWest Bank's assets to $3.8 billion and 112 branches in five states.

— Greg Stiles

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