-
PremierWest Bank in Medford, Ore., said Friday that it will close one-fourth of its branches to lower expenses as it struggles to return to profitability after more than three years of losses.
January 13 -
The $1.4 billion-asset company said Wednesday that it received notice from the Nasdaq on Monday that it is in compliance with listing requirements just shy of a March 10 deadline.
March 3 -
Shareholders at PremierWest Bancorp in Medford, Ore., have approved a reverse split of the company's stock, which could boost its share price.
December 21
Pacific Crest Federal Credit Union announced on Monday that it is acquiring two northern California branches from ailing PremierWest Bancorp.
The purchase and assumption deal comes as the Medford, Ore., bank
The two branches are located in Dorris and Tulelake, Calif.
"Pacific Crest is a natural fit for these communities, and this transaction will continue locally based financial services in the communities," said Jim Ford, CEO of PremierWest.
"We look forward to working with PremierWest Bank employees at the two branches over the next few months to transition them into the Pacific Crest family," said Kathie Philp, president of the $125 million credit union.
"These two branches were scheduled to be closed April 20, 2012. However, with this transaction, both branches will remain open and transition to Pacific Crest late in the second quarter, with no interruption in service," said Ford.
Financial terms of the deal were not disclosed.
