SOURCE: PremierWest Bank

February 16, 2012 19:00 ET

NASDAQ Lifts Pending Delisting Notification for PremierWest Bancorp

MEDFORD, OR--(Marketwire - Feb 16, 2012) - On February 14, 2012, the Nasdaq Stock Market (NASDAQ) notified PremierWest Bancorp (NASDAQ: PRWT) that it had regained compliance with listing rules by maintaining a minimum bid price of $1.00 per share for 10 consecutive business days, and that the compliance matter raised in the December 30, 2011 Nasdaq letter is now closed.

PremierWest Bancorp is a financial services holding company headquartered in Medford, Oregon. We operate primarily through our subsidiary PremierWest Bank. PremierWest offers a full array of financial products and services through a network of full service banking offices serving a territory which currently includes high growth markets in Southern & Central Oregon and Northern California. Additionally, PremierWest offers expanded banking related services through two subsidiaries, Premier Finance Company and PremierWest Investment Services, Inc.

This press release contains forward-looking statements within the meaning of the "Safe-Harbor" provisions of the Private Securities Litigation Reform Act of 1995, which management believes are a benefit to shareholders. You should not place undue reliance on forward-looking statements and, except as required by applicable law, we undertake no obligation to update any such statements. Statements that are not historical or current facts, including statements about beliefs and expectations, are forward-looking statements. Forward-looking statements are subject to risks and uncertainties. Actual results could differ materially from those discussed in this press release as a result of risk factors identified in the Company's Form 10-K for the year ended December 31, 2009, and other filings with the SEC. The Company makes forward-looking statements in this release related to the intended filing date of an amendment to its Articles of Incorporation and completion and timing of the reverse stock split.