West Coast Bancorp is a northwest bank holding company, operating 42 offices in Oregon and Washington. West Coast Bancorp is the parent company of West Coast Bank and West Coast Trust. Earlier this week, West Coast Bancorp announced earnings of $4.11 million, or $0.25 per diluted share, for the third quarter of 2001, compared to $3.99 million, or $0.24 per diluted share in the third quarter of 2000.

Including a kiting charge of $1.2 million, after tax, in the second quarter, net income for the nine months ended September 30, 2001, was $10.51 million, or $0.64 per diluted share. Through the first nine months of 2000 -- including the $3.64 million after tax non-recurring charges for litigation, severance expenses, and security losses during the first three quarters of 2000 -- net income was $8.75 million, or $0.52 per diluted share.

"As it relates to overall loan growth and quality going forward, we recognize we are not immune to the economic slowdown nationally and in our market area with Oregon's unemployment rate at 6.4% among one of the highest in the nation," says Robert D. Sznewajs, president & CEO. Total loans as of September 30, 2001 increased $21 million, or approximately 8% annualized, from June 30, 2001.