PremierWest Bancorp (PRWT) in Medford, Ore., took a loss in the fourth quarter as it sought to remove dead wood from its balance sheet.

The parent of the $1.2 billion-asset PremierWest Bank announced Tuesday a quarterly loss of $7.3 million, 78% larger than its loss in the final quarter of 2011. It lost 72 cents per share, well higher than the 5 cent-per-share loss anticipated by analysts polled by Bloomberg.

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