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Premier West Quarterly Report
Even though Premier West Bank has cut costs by making layoffs and closures, they’re reporting a loss of 4-point-8 million dollars in the first quarter of this year, 700-thousand dollars wider than the 4th quarter of 2011. While it's "never satisfying to report a loss," CEO Jim Ford says Premier West is working through its problem loans, and those are "the cost of doing business" he told the Medford Mail Tribune.
There’s good news in that they report appraisals on foreclosed properties flattening out and non-performing loans are at their lowest level since 2009. While Ford won't predict that the real estate market has hit bottom, it bodes well if that is the case.