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03/04/2010
AmericanWest plans to delist its common stock ...

AmericanWest Bancorporation, the Spokane-based parent company of AmericanWest Bank, announced today that it has notified Nasdaq of its intent to voluntarily delist its common stock. Nasdaq had notified AmericanWest last September that the minimum bid price of AmericanWest's common stock had fallen below $1 a share for 30 consecutive business days, putting it out of compliance with Nasdaq rules, and that it had until March 15 to regain compliance to avoid delisting. AmericanWest said it considered available strategies to cure the deficiency, as well as the costs of Nasdaq listing and compliance, the limited trading volume for its stock, and other factors, and decided that keeping its stock listed wasn't in its best interests. Its stock closed today at 42 cents a share. The company said it expects to file the necessary delisting paperwork with the Securities and Exchange Commission on March 14 and that the trading of its common stock will be suspended when market trading opens the next day.