PremierWest (PRWT) to Eliminate Some Staff Positions in Cost-Cutting Effort

PremierWest Bancorp (Nasdaq: PRWT) subsidiary PremierWest Bank has announced additional expense control initiatives including a restructuring of staff and processes that, when combined with the nine branch consolidations and two pending branch sales announced earlier this year, will result in annualized savings of approximately $4.4 million. As a result of the changes announced today, some staff positions will be eliminated and other currently vacant positions will not be filled.

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