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Branch purchases from AmericanWest Bank completed (10/18/13)

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Branch purchases from AmericanWest Bank completed (10/18/13)

On October 18, 2013, the Bank received required regulatory approval and completed its previously announced purchase of AmericanWest Bank's Klamath Falls, Oregon branch and the assumption of customer relationships, including deposits and selected loans of AmericanWest's Bend and Redmond, Oregon branch offices. In total, the Bank acquired approximately $25.6 million of deposits, paying a deposit premium of 2.00% of the balance of core in-market deposits assumed, and approximately $1.6 million of performing loans.

"Someone said it takes 30 years to be an instant success" - Gabriel Barbier-Mueller, CEO of Harwood International
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