NEW YORK, Sept. 23, 2003 (PRIMEZONE) -- With more than 31 branches, three investment offices, six real estate lending offices, and three finance company offices between Eugene, OR, and Redding, CA, the PremierWest Bancorp. (Nasdaq:PRWT) has continuously increased their presence in the I-5 corridor, an area that was estimated at seeing between $12 billion and $14 billion in bank deposits, PremierWest Bancorp's CEO John Anhorn told www.wallst.net.
Anhorn discussed his bank's target market share, and the potential resulting revenue. He detailed the company's history, and their recent listing on the NASDAQ.
The company's COO, Rich Hieb discussed PremierWest Bancorp's history with considerably lowering efficiency rates of the banks that the company had acquired in the past. Most recently, PremierWest Bancorp signed a letter of intent to purchase the Northern California-based Mid Valley Bank for $25 million in cash and stock. Both Anhorn and Hieb discussed the recent acquisition and the impact it could have on their company.
Both Anhorn and Hieb discussed the sizable growth of the Chico-Redding area of Northern California, and their company's place in that growing market.
Anhorn detailed the company's considerable increase in total revenues this year, and the company's current focus.
"Our goal is to build a winning bank, and we feel we're well on our way to doing that," Anhorn said.
To hear the entire interview, visit www.wallst.net
About PremierWest Bancorp.
PremierWest Bancorp is the parent company of PremierWest Bank with banking offices located in Jackson, Josephine, Douglas and Klamath counties of Oregon; and Shasta and Siskiyou Counties in California. PremierWest Investment Services, Inc. and Premier Finance Company are subsidiaries of PremierWest Bank. PremierWest Investment Services maintains investment personnel in Medford and Roseburg, Oregon. Premier Finance Company has offices located in Medford, Klamath Falls and Portland, Oregon. PremierWest Mortgage is a division of PremierWest Bank and operates through offices in Roseburg, Klamath Falls, Grants Pass and Medford, Oregon, and Eureka and Redding, California.
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