PremierWest Bancorp Declares a 5% Stock Dividend

Apr 20, 2001, 01:00 ET from PremierWest Bancorp

    MEDFORD, Ore., Apr 20 /PRNewswire Interactive News Release/ --
 PremierWest Bancorp (OTC Bulletin Board:   PRWT) yesterday, April 19, 2001,
 reported that its board declared a 5% stock dividend payable June 22, 2001 to
 shareholders of record June 1st. PremierWest's board determined that a stock
 dividend was warranted with the company's growth of over 50% since
 December 1999. The company believes that a stock dividend is an appropriate
 way to give its shareholders a return on their investment while preserving
 capital for future growth.
     PremierWest, a bank holding company with $446 million in assets is the
 parent company of PremierWest Bank headquartered in Medford. PremierWest has
 27 offices along the I-5 corridor from southern Oregon into northern
 California. On Monday, April 16th, PremierWest closed its acquisition of
 Timberline Bancshares, Inc. (OTC Bulletin Board:   TBLS), a community bank
 located in Northern California. PremierWest is the first community bank to
 have operations in both Oregon and California.
     Shares of PremierWest closed at $4.80 on Thursday, April 19th. The stock's
 52-week range is between $4.06 and $6.75.
     PremierWest Bancorp stock is traded on the OTC Bulletin Board under the
 symbol PRWT. The two primary market makers in PRWT stock are A.G. Edwards
 (541-779-4500 or 800-453-8899) and DA Davidson & Company (503-603-3051 or
 800-755-9643). Some of the other brokerage firms trading PRWT stock include
 Merrill Lynch (541-858-8815), Paine Webber (541-773-7773), Salomon-Smith
 Barney (541-779-5010) and Strand Atkinson (541-772-6826). For more information
 about PremierWest Bancorp, please call our investor line at 541-618-5970 or
 the Administration main line at 541-618-6003.
     This report contains certain forward-looking statements that are subject
 to risks and uncertainties that could cause actual results to differ
 materially from those reflected in those statements, which are representative
 only on the date hereof. These forward-looking statements are based on
 management's assumptions and projections, and are sometimes identifiable by
 the use of the words, "anticipated," "expect to," "plan," "will," "believe"
 and words of a similar predictive nature. Because management's assumptions and
 projections are based on anticipation of future events, you should not place
 undue emphasis on forward-looking statements. You should anticipate that our
 actual performance may vary from these projections, and these variations may
 be material and adverse. You should not rely solely on the forward-looking
 statements in evaluating an investment or prospective investment, and you
 should consider all uncertainties and risks discussed in the filings of
 PremierWest Bancorp with the Securities and Exchange Commission (SEC).
 PremierWest undertakes no obligation to update any forward-looking statements
 contained herein.
 
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SOURCE PremierWest Bancorp
    MEDFORD, Ore., Apr 20 /PRNewswire Interactive News Release/ --
 PremierWest Bancorp (OTC Bulletin Board:   PRWT) yesterday, April 19, 2001,
 reported that its board declared a 5% stock dividend payable June 22, 2001 to
 shareholders of record June 1st. PremierWest's board determined that a stock
 dividend was warranted with the company's growth of over 50% since
 December 1999. The company believes that a stock dividend is an appropriate
 way to give its shareholders a return on their investment while preserving
 capital for future growth.
     PremierWest, a bank holding company with $446 million in assets is the
 parent company of PremierWest Bank headquartered in Medford. PremierWest has
 27 offices along the I-5 corridor from southern Oregon into northern
 California. On Monday, April 16th, PremierWest closed its acquisition of
 Timberline Bancshares, Inc. (OTC Bulletin Board:   TBLS), a community bank
 located in Northern California. PremierWest is the first community bank to
 have operations in both Oregon and California.
     Shares of PremierWest closed at $4.80 on Thursday, April 19th. The stock's
 52-week range is between $4.06 and $6.75.
     PremierWest Bancorp stock is traded on the OTC Bulletin Board under the
 symbol PRWT. The two primary market makers in PRWT stock are A.G. Edwards
 (541-779-4500 or 800-453-8899) and DA Davidson & Company (503-603-3051 or
 800-755-9643). Some of the other brokerage firms trading PRWT stock include
 Merrill Lynch (541-858-8815), Paine Webber (541-773-7773), Salomon-Smith
 Barney (541-779-5010) and Strand Atkinson (541-772-6826). For more information
 about PremierWest Bancorp, please call our investor line at 541-618-5970 or
 the Administration main line at 541-618-6003.
     This report contains certain forward-looking statements that are subject
 to risks and uncertainties that could cause actual results to differ
 materially from those reflected in those statements, which are representative
 only on the date hereof. These forward-looking statements are based on
 management's assumptions and projections, and are sometimes identifiable by
 the use of the words, "anticipated," "expect to," "plan," "will," "believe"
 and words of a similar predictive nature. Because management's assumptions and
 projections are based on anticipation of future events, you should not place
 undue emphasis on forward-looking statements. You should anticipate that our
 actual performance may vary from these projections, and these variations may
 be material and adverse. You should not rely solely on the forward-looking
 statements in evaluating an investment or prospective investment, and you
 should consider all uncertainties and risks discussed in the filings of
 PremierWest Bancorp with the Securities and Exchange Commission (SEC).
 PremierWest undertakes no obligation to update any forward-looking statements
 contained herein.
 
                      MAKE YOUR OPINION COUNT - Click Here
                http://tbutton.prnewswire.com/prn/11690X02565875
 
 SOURCE  PremierWest Bancorp