With its bank unit low on capital, PremierWest Bancorp in Medford, Ore., is planning to raise up to $36 million in a rights offering.

The $1.7 billion-asset company has filed a shelf registration that would give stockholders nontransferable subscription rights to buy newly issued shares. If all of the rights are not exercised, the company would then turn to institutional and high-net-worth investors.

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