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WEST COAST BANCORP DECLARES TEN PERCENT STOCK DIVIDEND AND 8 CENTS PER SHARE QUARTERLY CASH DIVIDEND

 NEWPORT, Ore., July 27 /PRNewswire/ -- The board of directors of West Coast Bancorp (OTC Pink Sheets), parent company of The Bank of Newport, has declared a quarterly cash dividend of 8 cents per share and a 10 percent common stock dividend, payable August 27 to shareholders of record on Aug. 10, 1993. West Coast Bancorp has paid cash dividends since 1985.
 Each West Coast Bancorp shareholder will receive one additional share of common stock for every ten shares owned. A cash payment will be made in lieu of fractional shares. Upon payment of the stock dividend, West Coast Bancorp will have approximately 954,000 shares of common stock issued and outstanding.
 According to Victor L. Bartruff, president and chief executive officer of West Coast Bancorp, the board of directors declared the 10 percent stock dividend to enhance shareholder value by increasing the liquidity of West Coast stock in the marketplace.
 West Coast Bancorp is an Oregon based financial services holding company which recently announced record net income of $909,941 or $1.05 a share for the first half of 1993. Its principal subsidiary, The Bank of Newport, is based in Newport, with branches in Newport, Waldport, Depoe Bay, Lincoln City, Lake Oswego and Toledo, Ore. West Coast Bancorp also operates a commercial mortgage brokerage business in Lake Oswego.
 -0- 7/27/93
 /CONTACT: Victor L. Bartruff, president and chief executive officer, of West Coast Bancorp, 503-265-6666/


CO: West Coast Bancorp ST: Oregon IN: FIN SU: DIV

LM-AL -- SE013 -- 6523 07/27/93 20:31 EDT
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Publication:PR Newswire
Date:Jul 27, 1993
Words:256
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