PremierWest bounces back from the brink

Stronger shares for PremierWest could improve the bank’s relationship with NASDAQ.

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PremierWest shares closed above the $1 mark on Friday for the first time since Feb. 1.

The recovering stock price is a sign of hope for the Medford bank, which needs to improve its shares in order to continue being traded on NASDAQ.

Although shares topped the $1 mark during inter-day trading earlier this week, they finished those sessions below the pivotal plateau.

NASDAQ informed PremierWest Bancorp on March 15 that it was out of compliance. The letter told PremierWest that its stock needed to close above $1 for 10 consecutive sessions during the next 180 days in order to return to the exchange’s good graces.

Read the full story at the Mail Tribune.

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