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WEST COAST BANCORP SHAREHOLDERS SIGN VOTING AGREEMENT

 NEWPORT, Ore., June 30 /PRNewswire/ -- West Coast Bancorp (OTC Pink Sheets) shareholders owning 85,297 shares (approximately 9.8 percent) of the issued and outstanding common stock of West Coast Bancorp have entered into a voting agreement and signed irrevocable proxies in support of company directors who oppose a hostile takeover bid by Western Bank (NASDAQ: WSBK) of Coos Bay, Ore., West Coast Bancorp said today.
 With this agreement, shareholders owning a total of 29.1 percent (246,468 shares) of the company have stated their opposition to Western Bank's takeover.
 The group of shareholders signing the voting agreement and irrevocable proxies are in addition to another group of West Coast Bancorp shareholders owning 161,171 shares (approximately 19.3 percent) of the company's stock who entered into a shareholder agreement mid- June. That agreement stated that shareholders considered Western Bank's uninvited merger proposal inadequate and unacceptable.
 Georges C. St. Laurent Jr., controlling shareholder of Western Bank, has demanded a special meeting of shareholders to vote on his resolution calling for removal of all of the company's directors except James Reinmuth. The meeting will be held Aug. 11.
 West Coast Bancorp is an Oregon-based financial services holding company with headquarters in Newport. Its principal subsidiary is The Bank of Newport, which has branches in Newport, Waldport, Lincoln City, Depoe Bay and Toledo, and a business banking office in Lake Oswego. West Coast Bancorp also operates a commercial and residential mortgage brokerage business in Lake Oswego.
 -0- 6/30/93
 /CONTACT: Victor L. Bartruff, president, of West Coast Bancorp, 503-265-6666/
 (WSBK)


CO: West Coast Bancorp; Western Bank ST: Oregon IN: FIN SU: TNM

SW-JH -- SE017 -- 7461 06/30/93 20:44 EDT
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Publication:PR Newswire
Date:Jun 30, 1993
Words:281
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