-----BEGIN PRIVACY-ENHANCED MESSAGE----- Proc-Type: 2001,MIC-CLEAR Originator-Name: webmaster@www.sec.gov Originator-Key-Asymmetric: MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB MIC-Info: RSA-MD5,RSA, Iyh3T+cUoMel0FFSJ1oV5iHd1u835wHW9JIr4mRYwnug+gH7EvCzI30NcMrD+N+Q ykEHLk3Dh+lm/BVo5Jv98Q== 0001193125-10-047938.txt : 20100304 0001193125-10-047938.hdr.sgml : 20100304 20100304163143 ACCESSION NUMBER: 0001193125-10-047938 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 20100304 ITEM INFORMATION: Notice of Delisting or Failure to Satisfy a Continued Listing Rule or Standard; Transfer of Listing ITEM INFORMATION: Financial Statements and Exhibits FILED AS OF DATE: 20100304 DATE AS OF CHANGE: 20100304 FILER: COMPANY DATA: COMPANY CONFORMED NAME: AMERICANWEST BANCORPORATION CENTRAL INDEX KEY: 0000726990 STANDARD INDUSTRIAL CLASSIFICATION: STATE COMMERCIAL BANKS [6022] IRS NUMBER: 911259511 STATE OF INCORPORATION: WA FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 000-18561 FILM NUMBER: 10657586 BUSINESS ADDRESS: STREET 1: 41 W. RIVERSIDE AVENUE STREET 2: SUITE 400 CITY: SPOKANE STATE: WA ZIP: 99201-3631 BUSINESS PHONE: (509)467-6993 MAIL ADDRESS: STREET 1: 41 W. RIVERSIDE AVENUE STREET 2: SUITE 400 CITY: SPOKANE STATE: WA ZIP: 99201-3631 FORMER COMPANY: FORMER CONFORMED NAME: UNITED SECURITY BANCORPORATION DATE OF NAME CHANGE: 19920703 8-K 1 d8k.htm FORM 8-K Form 8-K

 

 

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

 

 

FORM 8-K

 

 

CURRENT REPORT

Pursuant to Section 13 OR 15(d) of the Securities Exchange Act of 1934

Date of Report (Date of earliest event reported) March 4, 2010

 

 

AMERICANWEST BANCORPORATION

(Exact name of registrant as specified in its charter)

 

 

 

Washington   0-18561   91-1259511

(State or other jurisdiction

of incorporation)

   (Commission File Number)  

(IRS Employer

Identification No.)

 

41 W. Riverside Avenue, Suite 400, Spokane, WA   99201
(Address of principal executive offices)   (Zip Code)

Registrant’s telephone number, including area code (509) 467-6993

 

(Former name or former address, if changed since last report.)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

 

¨ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

 

¨ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

 

¨ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

 

¨ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

 

 

 

Section 3 – Securities and Trading Markets

 

Item 3.01 Notice of Delisting or Failure to Satisfy a Continued Listing Rule or Standard; Transfer of Listing

On September 15, 2009, the Company received a written notification from NASDAQ of non-compliance with Marketplace Rule 5450(a)(1) because the bid price for the Company’s common stock was below the $1.00 per share minimum requirement for a period of 30 consecutive trading days. After consideration of available remedies to cure this deficiency, the Company has concluded that efforts to secure a continuation of the NASDAQ listing of its common stock were not in its best interests. The Company notified NASDAQ on March 4, 2010 of the Company’s intention to voluntarily delist its common stock, and expects to file a Form 25 with the SEC and NASDAQ on or about March 14, 2010 and that trading of its common stock will be suspended at the open of market trading on the following day. A copy of the Company’s press release describing the reasons for its decision and details of the notification is attached as Exhibit 99.1.

Section 9 – Financial Statements and Exhibits

 

Item 9.01 Financial Statements and Exhibits

 

(a) Not applicable

 

(b) Not applicable

 

(c) Not applicable

 

(d) Exhibit No.  

Exhibit Description

99.1

   Press Release dated March 4, 2010, titled “AmericanWest Bancorporation Announces Voluntary NASDAQ Delisting of Its Common Stock”

SIGNATURE

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

 

  AMERICANWEST BANCORPORATION,
  a Washington Corporation
Dated: March 4, 2010  

/s/ Patrick J. Rusnak

  Patrick J. Rusnak
  Chief Executive Officer
 EX-99.1 2 dex991.htm PRESS RELEASE Press Release

Exhibit 99.1

AMERICANWEST BANCORPORATION

 

 

PRESS RELEASE

March 4, 2010

 

 

AmericanWest Bancorporation Announces Voluntary

NASDAQ Delisting of Its Common Stock

SPOKANE, WASHINGTON - AmericanWest Bancorporation (NASDAQ: AWBC; the “Company”) today announced that it has provided written notice to NASDAQ of its intention to voluntarily delist its common stock. On September 15, 2009, NASDAQ notified the Company that it had failed to comply with the $1.00 per share minimum bid price requirement stipulated by Listing Rule 5450(a)(1) and provided 180 days for the Company to regain compliance. The Company considered available strategies to cure the minimum bid price deficiency, along with the direct and indirect costs of NASDAQ listing and compliance, the limited trading volume for its stock and other factors, and concluded that continuation of the NASDAQ listing of its common stock was not in its best interests.

The Company expects that it will file a Form 25 with the Securities and Exchange Commission and NASDAQ on or about March 14, 2010 and that trading of its common stock on the NASDAQ Stock Market will be suspended at the open of market trading the following day. The official date for delisting will be March 24, 2010.

The Company has not made any arrangements to have its common stock listed on any alternate exchanges or quotation systems. Following the delisting from NASDAQ, it expects that its common stock will continue to be quoted for trade on the OTC Bulletin Board, an electronic quotation service for unlisted public securities. However, there is no assurance that an active market for the Company’s common stock will develop or be maintained. The Company’s common stock will continue to be registered with the SEC.

About AmericanWest Bancorporation

AmericanWest Bancorporation is a bank holding company whose principal subsidiary is AmericanWest Bank, a community bank with 58 financial centers located in Washington, Northern Idaho and Utah. For further information on the company or to access Internet banking, please visit our web site at www.awbank.net/IR.

This press release includes forward-looking statements, and AmericanWest Bancorporation intends for such statements to be covered by the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. These forward-looking statements describe AmericanWest Bancorporation’s expectations regarding future events, including the delisting of its common stock from the NASDAQ Stock Market and prospects for a market developing on alternative trading services. Future events are difficult to predict and are subject to risk and uncertainty which could cause actual results to differ materially and adversely. Additional information regarding risks and

 

1

uncertainties is included in AmericanWest Bancorporation’s periodic filings on Forms 10-K and 10-Q with the Securities and Exchange Commission. AmericanWest Bancorporation undertakes no obligation to revise or amend any forward-looking statements to reflect subsequent events or circumstances

Contacts:

Patrick J. Rusnak

President and CEO

509.232.1963

prusnak@awbank.net

Media:

Kelly McPhee

509.232.1968

kmcphee@awbank.net

 

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