WCBO West Coast Bancorp (MM)

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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