Customer Questions On Our Merger with Sunrise Bank
Why is AmericanWest Bank merging Sunrise Bank?
AmericanWest Bank is committed to establishing a presence in the California market. Sunrise Bank is an exceptional bank with exceptional people who understand what it means to be a community bank—to consistently deliver outstanding customer service, to work as a team toward a common goal, and to give something back to the community through hands-on involvement. We share a common set of values that drive our business practices, and our partnership will provide benefits for customers, employees, and communities. Merging Sunrise Bank will significantly further our growth goals and move us toward becoming a high-performing, business-focused community bank.
When will the merger take place?
Pending shareholder and regulatory approval, management expects the merger to be complete by third quarter.
Will Sunrise Bank’s name change?
Yes, as one unified bank, we will all be AmericanWest Bank.
Who is Sunrise Bank?
Sunrise Bank is headquartered in San Diego, CA, and operates four full-service offices throughout Southern California. They are a business-focused community bank that offers a wide range of business and personal products.
Why is AmericanWest moving into a market so geographically removed?
Southern California has a high growth potential and is a great market for a mid-sized business-focused community bank. There are significant opportunities for growth in the area as we expand throughout the west coast. Our CEO and several of our executives have many years of experience in growing a bank in that market and look forward to re-entering the market as AmericanWest Bank.
Does this mean you are going to be a “big bank”?
No. Personalized customer service and one-on-one interaction are at the foundation of AmericanWest Bank. We provide a professional environment in which customers can take care of their banking and financial needs with responsive and reliable personal bankers who know them by name and will go the extra mile to provide the best service available. As we grow, we work even harder to improve the level of service our customers deserve and expect from us. Our dedication to providing the best customer service and our support for our local communities has fueled our success and growth. No matter how much we grow, we will always be a community bank.
How can AmericanWest be buying other banks so soon after having issues of its own?
In December 2010, AmericanWest Bank was purchased by SKBHC Holdings, LLC, who promptly invested $185 million in capital into the Bank, returning it to well-capitalized status. SKBHC Holdings, LLC has over $500 million in additional capital commitments to invest to grow the Bank organically and through acquisitions. As part of the bank’s strategy, we look forward to expanding into other areas that have high potential for growth.
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