August 14, 2009 (FinancialWire) — James Ford, president & chief executive officer, announced that William M. Yarbenet has been appointed executive vice president & Chief Credit officer for PremierWest Bank, a subsidiary of PremierWest Bancorp (NASDAQ: PRWT).

Ford stated, “Bill brings 25 plus years of experience in the banking and financial services industry with him, including a solid background in credit, finance and treasury management. We are excited with the depth of expertise he adds to our team.”

Prior to joining PremierWest, Yarbenet held various positions of increasing responsibility at Merrill Lynch & Co., including serving as treasurer, chief financial officer, and Chief Credit officer for Merrill Lynch Bank & Trust Co., one of Merrill’s two domestic banking subsidiaries. Yarbenet also served as Chief Credit officer for Goldman Sachs Bank, USA where he developed the credit infrastructure and managed credit risk for a de novo bank which rapidly grew to be one of the largest in the state of Utah. He holds an MBA in Management from Rutgers University and a BS in Economics from Allegheny College.

Yarbenet stated, “I am excited to be part of PremierWest and look forward to working together in addressing the challenges facing our industry while we move PremierWest to new levels.”

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