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                                                                    EXHIBIT 10.7


Certificate Number P-1                                 10,000 Capital Securities
   CUSIP NO. 0305859Z8

This security has not been registered under the securities act of 1933, as
amended (the "securities act"), any state securities laws or any other
applicable securities law. Neither this security nor any interest or
participation herein may be reoffered, sold, assigned, transferred, pledged,
encumbered or otherwise disposed of in the absence of such registration or
unless such transaction is exempt from, or not subject to, the registration
requirements of the securities act and any applicable state securities laws. The
holder of this security by its acceptance hereof agrees to offer, sell or
otherwise transfer this security only (a) to the sponsor or the trust, (b)
pursuant to a registration statement that has been declared effective under the
securities act, (c) to a person whom the seller reasonably believes is a
qualified institutional buyer in a transaction meeting the requirements of rule
144a so long as this security is eligible for resale pursuant to rule 144a in
accordance with rule 144a, (d) to a non-u.s. person in an offshore transaction
in accordance with rule 903 or rule 904 (as applicable) of regulation s under
the securities act, (e) to an institutional "accredited investor" within the
meaning of subparagraph (a) of rule 501 under the securities act that is
acquiring this capital security for its own account, or for the account of such
an institutional accredited investor for investment purposes and not with a view
to, or for offer or sale in connection with, any distribution in violation of
the securities act, or (f) pursuant to any other available exemption from the
registration requirements of the securities act, subject to the sponsor's and
the trust's right prior to any such offer, sale or transfer to require the
delivery of an opinion of counsel, certification and/or other information
satisfactory to each of them in accordance with the declaration of trust, a copy
of which may be obtained from the sponsor or the trust. Hedging transactions
involving this security may not be conducted unless in compliance with the
securities act.

The holder of this security by its acceptance hereof also agrees, represents and
warrants that it is not an employee benefit, individual retirement account or
other plan or arrangement subject to title I of the employee retirement income
security act of 1974, as amended ("erisa"), or section 4975 of the internal
revenue code of 1986, as amended (the "code") (each a "plan"), or an entity
whose underlying assets include "plan assets" by reason of any plan's investment
in the entity, and no person investing "plan assets" of any plan may acquire or
hold the securities or any interest therein, unless such purchaser or holder is
eligible for exemptive relief available under u.s. department of labor
prohibited transaction class exemption 96-23, 95-60, 91-38, 90-1 or 84-14 or
another applicable exemption or its purchase and holding of this security is not
prohibited by section 406 of erisa or section 4975 of the code with respect to
such purchase or holding. Any purchaser or holder of the securities or any
interest therein will be deemed to have represented by its purchase and holding
thereof that either (i) it is not an employee benefit plan within the meaning of
section 3(3) of erisa, or a plan to which section 4975 of the code is
applicable, a trustee or other person acting on behalf of an employee benefit
plan or plan, or any other person or entity using the assets of any employee
benefit plan or plan to finance such purchase, or (ii) such purchase will not
result in a prohibited transaction under section 406 of erisa or section 4975 of
the code for which there is no applicable statutory or administrative exemption.

This security will be issued and may be transferred only in blocks having a
liquidation amount of not less than $500,000.00 (500 securities) and multiples
of $1,000.00 in excess thereof. Any attempted transfer of securities in a block
having a liquidation amount of less than $500,000.00 shall be deemed to be void
and of no legal effect whatsoever.

The holder of this security agrees that it will comply with the foregoing
restrictions.

In connection with any transfer, the holder will deliver to the registrar and
transfer agent such certificate and other information as may be required by the
declaration to confirm that the transfer complies with the foregoing
restrictions.

                               September 26, 2002

             Certificate Evidencing Floating Rate Capital Securities

                                       of

                         Americanwest Statutory Trust I

                (liquidation amount $1,000 per Capital Security)

         Americanwest Statutory Trust I, a statutory trust created under the
laws of the State of Connecticut (the "Trust"), hereby certifies that Hare & Co.
(the "Holder"), as the nominee of The Bank of New York, indenture trustee under
the Indenture dated as of September 26, 2002 among Preferred Term Securities
VII, Ltd, Preferred Term Securities VII, Inc. and The Bank of New York is the
registered owner of capital securities of the Trust representing undivided
beneficial interests in the assets of the Trust, (liquidation amount $1,000 per
capital security) (the "Capital Securities"). Subject to the Declaration (as
defined below), the Capital Securities are transferable on the books and records
of the Trust in person or by a duly authorized attorney, upon surrender of this
Certificate duly endorsed and in proper form for transfer. The designation,
rights, privileges, restrictions, preferences and other terms and provisions of
the Capital Securities represented hereby are issued pursuant to, and shall in
all respects be subject to, the provisions of the Amended and

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Restated Declaration of Trust of the Trust dated as of September 26, 2002, among
Wesley E. Colley, Wade Griffith and John L. Gilbert, as Administrators, State
Street Bank and Trust Company of Connecticut, National Association, as
Institutional Trustee, AmericanWest Bancorporation, as Sponsor, and the holders
from time to time of undivided beneficial interests in the assets of the Trust,
including the designation of the terms of the Capital Securities as set forth in
Annex I to such amended and restated declaration as the same may be amended from
time to time (the "Declaration"). Capitalized terms used herein but not defined
shall have the meaning given them in the Declaration. The Holder is entitled to
the benefits of the Guarantee to the extent provided therein. The Sponsor will
provide a copy of the Declaration, the Guarantee, and the Indenture to the
Holder without charge upon written request to the Trust at its principal place
of business.

         Upon receipt of this Security, the Holder is bound by the Declaration
and is entitled to the benefits thereunder.

         By acceptance of this Security, the Holder agrees to treat, for United
States federal income tax purposes, the Debentures as indebtedness and the
Capital Securities as evidence of beneficial ownership in the Debentures.

         This Capital Security is governed by, and construed in accordance with,
the laws of the State of Connecticut, without regard to principles of conflict
of laws.

                     Signature appears on the following page

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         IN WITNESS WHEREOF, the Trust has duly executed this certificate.

                                        AMERICANWEST STATUTORY TRUST I

                                        By:_____________________________________
                                            Name:
                                            Title: Administrator

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                          CERTIFICATE OF AUTHENTICATION

         This is one of the Capital Securities referred to in the
within-mentioned Declaration.

                                         STATE STREET BANK AND TRUST COMPANY OF
                                         CONNECTICUT, NATIONAL ASSOCIATION,
                                         as the Institutional Trustee


                                         By:____________________________________
                                                      Authorized Officer





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                           REVERSE OF CAPITAL SECURITY

         Distributions payable on each Capital Security will be payable at an
annual rate equal to 5.220% beginning on (and including) the date of original
issuance and ending on (but excluding) December 26, 2002 and at an annual rate
for each successive period beginning on (and including) December 26, 2002, and
each succeeding Distribution Payment Date, and ending on (but excluding) the
next succeeding Distribution Payment Date (each a "Distribution Period"), equal
to 3-Month LIBOR, determined as described below, plus 3.400% (the "Coupon
Rate"); provided, however, that prior to September 26, 2007, the Coupon Rate
shall not exceed 11.90%, applied to the stated liquidation amount of $1,000.00
per Capital Security, such rate being the rate of interest payable on the
Debentures to be held by the Institutional Trustee. Distributions in arrears for
more than a quarterly period will bear interest thereon compounded quarterly at
the Distribution Rate (to the extent permitted by applicable law). The term
"Distributions" as used herein includes payments of Interest and any principal
on the Debentures held by the Institutional Trustee unless otherwise stated. A
Distribution is payable only to the extent that payments are made in respect of
the Debentures held by the Institutional Trustee and to the extent the
Institutional Trustee has funds available therefor. As used herein,
"Determination Date" means the date that is two London Banking Days (i.e., a
business day in which dealings in deposits in U.S. dollars are transacted in the
London interbank market) preceding the commencement of the relevant Distribution
Period. In the event that any date on which a Distribution is payable on this
Capital Security is not a Business Day, then a payment of the Distribution
payable on such date will be made on the next succeeding day which is a Business
Day (and without any Distribution or other payment in respect of any such
delay), except that, if such Business Day is in the next succeeding calendar
year, such payment shall be made on the immediately preceding Business Day, in
each case with the same force and effect as if made on the date the payment was
originally payable. The amount of interest payable for any Distribution Period
will be calculated by applying the Coupon Rate to the principal amount
outstanding at the commencement of the Distribution Period and multiplying each
such amount by the actual number of days in the Distribution Period concerned
divided by 360.

         "3-Month LIBOR" as used herein, means the London interbank offered
interest rate for three-month U.S. dollar deposits determined by the Debenture
Trustee in the following order of priority: (i) the rate (expressed as a
percentage per annum) for U.S. dollar deposits having a three-month maturity
that appears on Telerate Page 3750 as of 11:00 a.m. (London time) on the related
Determination Date ("Telerate Page 3750" means the display designated as "Page
3750" on the Dow Jones Telerate Service or such other page as may replace Page
3750 on that service or such other service or services as may be nominated by
the British Bankers' Association as the information vendor for the purpose of
displaying London interbank offered rates for U.S. dollar deposits); (ii) if
such rate cannot be identified on the related Determination Date, the Debenture
Trustee will request the principal London offices of four leading banks in the
London interbank market to provide such banks' offered quotations (expressed as
percentages per annum) to prime banks in the London interbank market for U.S.
dollar deposits having a three-month maturity as of 11:00 a.m. (London time) on
such Determination Date. If at least two quotations are provided, 3-Month LIBOR
will be the arithmetic mean of such quotations; (iii) if fewer than two such
quotations are provided as requested in clause (ii) above, the Debenture Trustee
will request four major New York City banks to provide such banks' offered
quotations (expressed as percentages per annum) to leading European banks for
loans in U.S. dollars as of 11:00 a.m. (London time) on such Determination Date.
If at least two such quotations are provided, 3-Month LIBOR will be the
arithmetic mean of such quotations; and (iv) if fewer than two such quotations
are provided as requested in clause (iii) above, 3-Month LIBOR will be a 3-Month
LIBOR determined with respect to the Distribution Period immediately preceding
such current Distribution Period. If the rate for U.S. dollar deposits having a
three-month maturity that initially appears on Telerate Page 3750 as of 11:00
a.m. (London time) on the related Determination Date is superseded on the
Telerate Page 3750 by a corrected rate by 12:00 noon (London time) on such
Determination Date, then the corrected rate as so substituted on the applicable
page will be the applicable 3-Month LIBOR for such Determination Date.

         The Coupon Rate for any Distribution Period will at no time be higher
than the maximum rate then permitted by New York law as the same may be modified
by United States law.

         All percentages resulting from any calculations on the Capital
Securities will be rounded, if necessary, to the nearest one hundred-thousandth
of a percentage point, with five one-millionths of a percentage point rounded
upward (e.g., 9.876545% or .09876545 being rounded to 9.87655% or .0987655, and
all dollar amounts used in or resulting from such calculation will be rounded to
the nearest cent (with one-half cent being rounded upward)).

         Except as otherwise described below, Distributions on the Capital
Securities will be cumulative, will accrue from the date of original issuance
and will be payable quarterly in arrears on March 26, June 26, September 26 and
December 26 of each year, commencing on December 26, 2002. The Debenture Issuer
has the right under the Indenture to defer payments of interest on the
Debentures by extending the interest payment period for up to 20 consecutive
quarterly periods (each an "Extension Period") on the Debentures, subject to the
conditions described below, although such interest would continue to accrue on
the Debentures at an annual rate equal to the Distribution Rate compounded
quarterly to the extent permitted by law during any Extension Period. No
Extension Period may end on a date other than a Distribution Payment Date. At
the end of any such Extension Period the Debenture Issuer shall pay all interest
then accrued and unpaid on the Debentures (together with Additional Interest
thereon); provided, however, that no Extension Period may extend beyond the
Maturity Date. Prior to the termination of any Extension Period, the Debenture
Issuer may further extend such period, provided that such period together with
all such previous and further consecutive extensions thereof shall not exceed 20
consecutive quarterly periods, or extend beyond the Maturity Date. Upon the
termination of any Extension Period and upon the payment of all accrued and
unpaid interest and Additional Interest, the Debenture Issuer may commence a new
Extension Period, subject to the foregoing requirements. No interest or
Additional Interest shall be due and payable during an Extension Period, except
at the end thereof, but each installment of interest that would otherwise have
been due and payable during such Extension Period shall bear Additional
Interest. If Distributions are deferred, the Distributions due shall be paid on
the date that the related Extension Period terminates, to Holders of the
Securities as they appear on the books and records of the Trust on the record
date immediately preceding such date. Distributions on the Securities must be
paid on the dates payable (after giving effect to any Extension Period) to the
extent that the Trust has funds available for the payment of such distributions
in the Property Account of the Trust. The Trust's funds available for
Distribution to the Holders of the Securities will be limited to payments
received from the Debenture Issuer. The payment of Distributions out of moneys
held by the Trust is guaranteed by the Guarantor pursuant to the Guarantee.

         The Capital Securities shall be redeemable as provided in the
Declaration.

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                                   ASSIGNMENT

     FOR VALUE RECEIVED, the undersigned assigns and transfers this Capital
Security Certificate to:

     ___________________________________________________________________________


     (Insert assignee's social security or tax identification number)___________

     ___________________________________________________________________________

     ___________________________________________________________________________




     (Insert address and zip code of assignee) and irrevocably appoints


     ___________________________________________________________________________



     agent to transfer this Capital Security Certificate on the books of the
Trust. The agent may substitute another to act for him or her.

     Date:_______________________________________

     Signature:__________________________________

  (Sign exactly as your name appears on the other side of this Capital Security
                                  Certificate)

     Signature Guarantee:/1/




____________________________________
         /1/ Signature must be guaranteed by an "eligible guarantor institution"
         that is a bank, stockbroker, savings and loan association or credit
         union meeting the requirements of the Security registrar, which
         requirements include membership or participation in the Securities
         Transfer Agents Medallion Program ("STAMP") or such other "signature
         guarantee program" as may be determined by the Security registrar in
         addition to, or in substitution for, STAMP, all in accordance with the
         Securities Exchange Act of 1934, as amended.