LAKE OSWEGO, Ore., Sept. 23 /PRNewswire-FirstCall/ -- The West Coast Bank Board of Directors today declared a third-quarter cash dividend on the Company's common stock of one cent per share, down from 13.5 cents per share in the previous quarter. Robert D. Sznewajs, President & CEO, said, "We believe the cash dividend reduction is in the best long-term interests of our shareholders and will preserve and grow the Company's capital base. The cash dividend decrease will help ensure that the Company maintains its well-capitalized position in future periods and is reflective of the Company exercising an abundance of caution in these unprecedented times. The Company's capital ratio was 10.71% at June 30, 2008, which is well above regulatory capital requirements. Furthermore, the Company expects its capital ratios at September 30, 2008 to improve over the June 30, 2008 levels." "This decision was not taken lightly," Sznewajs continued. "The future level of cash dividends will reflect the Company's earnings generation going forward and its assessment of the economic environment." West Coast Bancorp, 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 64 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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