AmericanWest Bancorporation Announces Regulatory Approvals and Waivers for Planned Merger with Far West Bancorporation.SPOKANE, Wash. -- AmericanWest Bancorporation (NASDAQ NASDAQ in full National Association of Securities Dealers Automated Quotations U.S. market for over-the-counter securities. Established in 1971 by the National Association of Securities Dealers (NASD), NASDAQ is an automated quotation system that reports on : AWBC AWBC Australian Wine Brandy Corporation ) announced today that AmericanWest Bank has received approval from the Federal Deposit Insurance Corporation Federal Deposit Insurance Corporation (FDIC), an independent U.S. federal executive agency designed to promote public confidence in banks and to provide insurance coverage for bank deposits up to $100,000. , the Washington Department of Financial Institutions and the Utah Department of Financial Institutions of the Bank's Interagency in·ter·a·gen·cy adj. Involving or representing two or more agencies, especially government agencies. Bank Merger Act Application for the planned merger of Far West Bank with and into AmericanWest Bank. The approvals were conditioned upon a 15-day waiting period, which expires on January 24, 2007, shareholder approval and no material changes impacting AmericanWest Bank or Far West Bank before closing. The Washington Department further conditioned its approval upon the receipt of the customary transaction documents such as the bank Articles of Merger. In addition, the Federal Reserve Bank of San Francisco The Federal Reserve Bank of San Francisco is the federal bank for the twelfth district in the United States. The twelfth district is made up of nine western states—Alaska, Arizona, California, Hawaii, Idaho, Nevada, Oregon, Utah, and Washington—plus American Samoa, has notified AmericanWest Bancorporation that the proposed merger of Far West Bancorporation with and into AmericanWest Bancorporation, and the acquisition of all of the shares of Far West Bank, may be completed without a formal bank holding company application. Completion of the merger is expected by March 31, 2007, subject to approval by AmericanWest Bancorporation and Far West Bancorporation shareholders, and other customary conditions of closing. About AmericanWest Bancorporation AmericanWest Bancorporation is a bank holding company whose principal subsidiary is AmericanWest Bank, a community bank with 46 financial centers located in Eastern and Central Washington Central Washington is a region of the United States defined as the western half of Eastern Washington, or those counties lying east of the Cascade Mountains but west of the 119th meridian. and Northern Idaho, and loan production offices in Ellensburg, Washington Ellensburg is the county seat of Kittitas County, Washington, United StatesGR6. The population was 15,414 at the 2000 census. Ellensburg is located just east of the Cascade Range on I-90. Ellensburg is the home of Central Washington University (CWU). and Salt Lake City, Utah For ships of the United States Navy of the same name, see . Salt Lake City is the capital and the most populous city of the U.S. state of Utah. The name of the city is often shortened to Salt Lake, or its initials, S.L.C. . For further information on the company or to access Internet banking, please visit our web site at www.awbank.net/IR. This document contains comments and information that constitute "forward-looking statements forward-looking statement A projected financial statement based on management expectations. A forward-looking statement involves risks with regard to the accuracy of assumptions underlying the projections. " (within the meaning of the Private Securities Litigation Reform Act The Private Securities Litigation Reform Act of 1995 (PSLRA) implemented several significant substantive changes affecting certain cases brought under the federal securities laws, including changes related to pleading, discovery, liability, class representation and awards fees and of 1995). The forward-looking statements herein are subject to risks and uncertainties that could cause actual results to differ materially from those expressed in or implied by such statements. Factors that may cause actual results to differ materially from those contemplated by such forward-looking statements include, among other things, the following possibilities: the ability of the companies to obtain the required shareholder approval; the ability of the companies to consummate the transaction; or, a material adverse change in the financial condition, results of operations or prospects of either company. When used in this document, the words "believes," "estimates," "expects," "should," "anticipates" and similar expressions as they relate to either company or the proposed transaction are intended to identify forward-looking statements. Forward-looking statements speak only as to the date they are made. The Company does not undertake to update forward-looking statements to reflect circumstances or events that occur after the date the forward-looking statements are made. This press release may be deemed to be offering or solicitation solicitation In criminal law, the act of asking, inducing, or directing someone to commit a crime. The person soliciting another becomes an accomplice to the crime. The term also refers to the act of obtaining bribes, as well as to the crime of a prostitute who offers sexual materials of AmericanWest Bancorporation and Far West Bancorporation in connection with the proposed merger of Far West with and into AmericanWest. Shareholders are urged to read the joint proxy statement/prospectus that will be included in the registration statement on Form S-4, which AmericanWest will file with the SEC in connection with the proposed acquisition, because both will contain important information about AmericanWest, Far West, the acquisition and related matters. The directors and executive officers of AmericanWest and Far West may be deemed to be participants in the solicitation of proxies from their respective shareholders. Information regarding AmericanWest's participants and their security holdings can be found in its most recent proxy statement Proxy Statement A document containing the information that a company is required by the SEC to provide to shareholders so they can make informed decisions about matters that will be brought up at an annual stockholder meeting. filed with the SEC, and information for both AmericanWest and Far West participants in the joint proxy statement/prospectus when it is filed with the SEC. All documents filed with the SEC are or will be available for free, both on the SEC web site (http://www.sec.gov) and by directing requests to: For AmericanWest: AmericanWest Bancorporation Attention: Investor Relations 41 West Riverside Avenue, Suite 400 Spokane, WA 99201 Email: investorinfo@awbank.net Phone: 509.232.1536 For Far West: Far West Bancorporation Attention: President 201 East Center Street, Provo, UT 84606 Email: donn@farwestbank.com Phone: 801.342.6061 |
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