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WEST COAST BANCORP CALLS SPECIAL SHAREHOLDERS MEETING

 NEWPORT, Ore., June 29 /PRNewswire/ -- West Coast Bancorp (OTC Pink Sheets) today announced that a special meeting of shareholders will be held Wednesday, Aug. 11, to vote on a dissident shareholder resolution calling for removal of six of the company's seven directors because they oppose a hostile takeover bid by Western Bank (NASDAQ: WSBK) of Coos Bay, Ore.
 The resolution, submitted by Georges C. St. Laurent Jr., controlling shareholder of Western Bank, seeks to remove all of the company's directors except James Reinmuth. Shareholders of record on July 2 will be entitled to vote at the special meeting.
 Western Bank April 8 made an uninvited merger proposal to West Coast Bancorp. After careful consideration and on the advice of independent financial advisors, the company's board of directors April 30 rejected the offer as significantly inadequate.
 The board also stated it did not believe Western Bank's proposed merger was in the best interests of the company, its employees, customers and the communities served by The Bank of Newport.
 "A majority of the board of directors believe our shareholders will maximize their investment in West Coast Bancorp if we continue as a highly profitable community bank with an increasingly valuable franchise on the central Oregon coast," said J.F. Ouderkirk, chairman of the board. "We are proud of West Coast Bancorp's performance in recent years and believe the best is yet to come."
 Western Bank withdrew its unsolicited proposal June 18. That same day, St. Laurent wrote a letter to selected West Coast Bancorp shareholders, telling them he and another shareholder, who together own 87,011 (10.03 percent) of West Coast Bancorp's outstanding shares, "...have called for a special meeting of shareholders to remove all members of the board of directors with the exception of Jim Reinmuth, the one director who has supported the Western proposal."
 St. Laurent said if he prevailed at the special meeting of shareholders, "Shortly after that meeting, directors representing the shareholders' interests will be appointed by Mr. Reinmuth..."
 Ouderkirk stated that "a majority of the directors of West Coast Bancorp are standing together in staunch opposition to Georges C. St. Laurent Jr.'s crude attempt to steal the company at a cheap price.
 "We urge all our shareholders to vote against this self-serving resolution, which would have the effect of replacing an independent board of directors with a group of hand-picked nominees willing to sell the company to Georges C. St. Laurent Jr. -- at his price and on his terms," said Ouderkirk.
 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- 6/29/93
 /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-SB -- SE017 -- 6943 06/29/93 19:10 EDT
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Publication:PR Newswire
Date:Jun 29, 1993
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