West Coast Bancorp Issues Trust Preferred Securities
18 März 2004 - 2:00PM
PR Newswire (US)
West Coast Bancorp Issues Trust Preferred Securities LAKE OSWEGO,
Ore., March 18 /PRNewswire-FirstCall/ -- West Coast Bancorp today
announced it has raised $6 million from its participation in a
pooled trust preferred offering. The issuance has a stated maturity
of 30 years. The interest rate is fixed at 5.88% for the first five
years, and the coupon rate will float quarterly at the three-month
LIBOR plus 279 basis points thereafter. The securities are
redeemable by the Company at any time after five years and under
certain other circumstances. Proceeds from the issuance will be
used for general corporate purposes. (Logo:
http://www.newscom.com/cgi-bin/prnh/20010816/SFTH016ALOGO ) West
Coast Bancorp is a Northwest bank holding company with $1.7 billion
in assets, operating 47 offices in Oregon and Washington. The
Company serves clients who seek the resources, sophisticated
products and expertise of larger financial institutions, along with
the local decision-making, market knowledge, and customer service
orientation of a community bank. West Coast Bancorp, the parent
company of West Coast Bank and West Coast Trust, is a publicly held
bank holding company headquartered in Oregon. The Company offers a
broad range of banking, investment, fiduciary and trust services.
For more information, please visit the Company web site at
http://www.wcb.com/.
http://www.newscom.com/cgi-bin/prnh/20010816/SFTH016ALOGO
http://photoarchive.ap.org/ DATASOURCE: West Coast Bancorp CONTACT:
Robert D. Sznewajs, President & CEO, +1-503-598-3252, 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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