West Coast Bancorp Completes Consolidation West Coast Bank Opens for Business

Business Wire, Jan 6, 1999

LAKE OSWEGO, Ore.--(BUSINESS WIRE)--Jan. 6, 1999--West Coast Bancorp (Nasdaq:WCBO), the northwest-based community bank holding company confirmed completion of its previously announced combination of its four subsidiary community banks into West Coast Bank.

The combination was completed on December 31, 1998, and West Coast Bank opened its doors to customers on Saturday, January 2, 1999 at certain locations and on Monday, January 4, 1999 at all locations.

West Coast Bank currently has 40 branches throughout western Oregon and southwestern Washington. The Bank is scheduled to open its new branch in McMinnville, Oregon later this month and has applications pending for a planned expansion in the Vancouver, Washington area. West Coast Bancorp continues its longstanding commitment to community banking, and through the consolidation, intends to increase its effectiveness in serving customers by strengthening the company's brand identity, and improving efficiency.

"We are excited about the completion of this landmark event for our company," said Victor L. Bartruff, president and chief executive officer of West Coast Bancorp and West Coast Bank. "The enthusiasm of our employees and their commitment to ensuring a pleasant transition for our customers is inspiring," continued Bartruff. "The consolidation under one common name has brought us together, and we are looking forward to strengthening our company and improving and expanding our community banking tradition."

Prior to the consolidation, West Coast Bancorp separately operated (1) The Commercial Bank, Salem, Oregon, (2) Bank of Vancouver, Vancouver, Washington, (3) the Bank of Newport, Newport, Oregon, including its branches operating under the trade name "Valley Commercial Bank," and (4) Centennial Bank, Olympia, Washington. West Coast Bancorp also operates West Coast Trust, based in Salem, Oregon. Through its current subsidiaries West Coast Bank and West Coast Trust, the company offers a broad range of banking, investment and trust services. West Coast Bancorp had $1.2 billion in total assets as of September 30, 1998.

Editor's Note - West Coast Bancorp is not - Nasdaq: WCBC (California)