Americanwest Bancorporation (AWBC) 10-K 2003 FY Annual report

Exhibit 14.1

AMERICAN WEST BANCORPORATION

CODE OF ETHICS

(For directors and senior financial officers in accordance with the

Sarbanes-Oxley Corporate Responsibility Act of 2002)

Adopted by AmericanWest Bank Board of Directors on May 27, 2003

It is the policy of AmericanWest Bank that its employees, directors, and agents are held to the highest standards of honest and ethical conduct when conducting the affairs of the bank. Because the equity shares of AmericanWest Bank are publicly traded, senior financial officers* of AWB are held to an especially high set of ethical standards, which are further described below. Senior financial officers will not commit acts contrary to these standards of ethical conduct nor shall they condone the commission of such acts by others with the organization.

General Standards of Ethical Behavior

Directors and Senior Financial Officers will:

• Conduct their personal and professional affairs in a way that avoids both real and perceived conflicts of interest between their interests and the interests of the bank.

• Refrain from engaging in any activity that would compromise their professional ethics or otherwise prejudice their ability to carry out their duties to the bank.

• Communicate to executive management of the bank and to accountants engaged in financial audits of the bank, all relevant unfavorable as well as favorable information and professional judgments or opinions.

• Encourage open communication and full disclosure of financial information by providing a well understood process under which management is kept informed of financial information of importance, including any departures from sound policy, practice, and accounting norms.

Senior Financial Officers will:

• Ensure that all relevant staff members understand the bank’s open communication and full disclosure standards and processes.

• Refrain from disclosing confidential information acquired in the course of their work except where authorized, unless legally obligated to do so.

• Inform subordinates, as appropriate, regarding the confidentiality of information acquired in the course of their work and monitor, as needed, to ensure that subordinates maintain that confidentiality.

* Defined as all regulation O executive officers along with the Chief Executive Officer (CEO), Chief Financial Officer (CFO), or any person serving in an equivalent position regardless of whether or not they are designated as executive officers for Regulation O purposes.

• Refrain from using or appearing to use confidential information acquired in the course of their work for unethical or illegal advantage, either personally or indirectly through others.

• Establish appropriate systems and procedures to ensure that business transaction are recorded on the bank’s books in accordance with Generally Accepted Accounting Principals, established company policy, and appropriate regulatory pronouncements and guidelines.

• Establish appropriate policies and procedures for the protection and retention of accounting records and information as required by applicable law, regulation, or regulatory guidelines.

• Establish and administer financial accounting controls that are appropriate to ensure the integrity of the financial reporting process and the availability of timely, relevant information for the safe, sound, and profitable operation of the bank.

• Completely disclose all relevant information reasonably expected to be needed by the bank’s regulatory examiners and internal and external auditors for the full, complete, and successful discharge of their duties and responsibilities.