West Coast Bancorp Announces Suspension of Shareholder Dividend
24 September 2009 - 1:27AM
PR Newswire (US)
LAKE OSWEGO, Ore., Sept. 23 /PRNewswire-FirstCall/ -- West Coast
Bancorp (NASDAQ:WCBO) announced today that it has suspended the
payment of cash dividends to its shareholders. President & CEO
Robert D. Sznewajs said, "Given the Company's operating losses over
the past twelve months and the continuing weak economy, payment of
cash dividends has been suspended as part of the Company's efforts
to preserve capital." West Coast Bancorp is a Northwest bank
holding company with $2.6 billion in assets, operating 65 offices
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 web site at
http://www.wcb.com/. DATASOURCE: West Coast Bancorp CONTACT: Robert
D. Sznewajs, President & CEO, +1-503-598-3243, or Anders
Giltvedt, Executive Vice President & CFO, +1-503-598-3250, both
of West Coast Bancorp Web Site: http://www.wcb.com/
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