PremierWest Bancorp in Medford, Ore., has succeeded in recapitalizing its bank, though a fresh regulatory order has pushed back the target.

The $1.56 billion-asset company announced late Wednesday that it raised $14.6 million in capital in the public stock offering it commenced last month. The public offering followed it raising $18.7 million in a rights offering to its existing shareholders that closed in early March. In total, PremierWest raised $33.3 million.

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