WCBO West Coast Bancorp (MM)

Skipped payments and fee waivers will aid beleaguered individuals and small businesses LAKE OSWEGO, Ore., Jan. 24 /PRNewswire-FirstCall/ -- Individuals and small businesses beset by hardship from severe flooding, landslides and mudslides in the Pacific Northwest are now eligible for some unexpected relief. West Coast Bank has implemented a relief program for storm victims residing in FEMA-designated Oregon and Washington counties. Qualified customers may skip payments on current loans while new and current loan customers may waive qualified loan fees. Robert D. Sznewajs, West Coast Bank President & CEO, said, "Many of our customers and friends in the communities we serve were seriously impacted by the December 2007 storms. The storm relief program is the bank's attempt to alleviate some of the hardship while our neighbors get back on their feet." West Coast Bank's Skip Payment Program allows qualified customers to skip up to two payments on loans or lines of credit that require a monthly payment of principal and interest or a payment of 2.5% of the line balance. The skip payment referral fee is also waived. The bank's Loan Fee Deferral Program waives most fees on all new consumer and small business products, annual loan fees for new consumer and small business products for the first year, and annual fees on existing loans that are due or will become due by December 31, 2008. FEMA approved counties include Clatsop, Columbia, Lincoln, Tillamook and Yamhill in Oregon, and Grays Harbor, Kitsop, Lewis, Mason, Pacific and Thurston in Washington. This offer expires on June 30, 2008. West Coast Bancorp, (NASDAQ:WCBO), one of Oregon Business Magazine's 100 Best Companies to Work For, is a Northwest bank holding company with $2.6 billion in assets, operating 63 locations in Oregon and Washington. The company combines the sophisticated products and expertise of larger banks with the local decision making, market knowledge and customer service of a community bank. For more information, visit the Company's web site at http://www.wcb.com/. DATASOURCE: West Coast Bancorp CONTACT: Robert D. Sznewajs, President & CEO of West Coast Bancorp, +1-503-598-3243 Web site: http://www.wcb.com/

Copyright