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Canadian Western Bank announces increase to preferred share offering

February 3, 2014

ENP Newswire - 03 February 2014 Release date- 31012014 - Canadian Western Bank (TSX: CWB) today announced that as a result of strong investor demand for its previously announced domestic public offering of Basel III-compliant noncumulative 5-year rate reset First Preferred Shares Series 5, the size of the offering has been increased to 5 million shares. The gross proceeds of the offering will now be $125 million . The offering will be underwritten on a bought deal basis by a syndicate led by National Bank Financial Inc. The expected closing date is February 10, 2014 . Net proceeds from the offering will be used for general corporate purposes and are expected to qualify as Tier 1 capital for CWB. About Canadian Western Bank Group Canadian Western Bank offers a full range of business and personal banking services across the four western provinces and is the largest publicly traded Canadian bank headquartered in Western Canada . The Bank, along with its operating affiliates, National Leasing , Canadian Western Trust , Canadian Direct Insurance , Valiant Trust , Adroit Investment Management , McLean & Partners , and Canadian Western Financial, collectively offer a diversified range of financial services across Canada and are together known as the Canadian Western Bank Group . The common shares of Canadian Western Bank are listed on the Toronto Stock Exchange under the trading symbol 'CWB'. The Bank's Series 3 Preferred Shares trade on the Toronto Stock Exchange under the trading symbol 'CWB.PR.A'. Refer to cwb.com for additional information. 30 - For Further Information Contact: Kirby Hill , CFA Vice President, Strategy & Communications Canadian Western Bank Phone: (780) 441-3770 Email: kirby.hill@cwbank.com Tracey Ball , FCA Executive Vice President & CFO Canadian Western Bank Phone: (780) 423-8865


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Source: ENP Newswire


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