PremierWest Bank Merger With AmericanWest Bank, Spokane, WashingtonWe counseled PremierWest Bank, Medford, Oregon, and its parent company PremierWest Bancorp, in their respective mergers with and into Starbuck Bancshares, Inc. and AmericanWest Bank, Spokane, Washington, through a series of transactions. An aggregate $61.5M cash merger consideration was paid to common shareholders and the U.S. Treasury, as holder of PremierWest’s TARP preferred stock. The transaction also included the retirement of $30.9M of PremierWest’s junior subordinated debentures. |