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WEST COAST BANCORP REJECTS OFFER

 NEWPORT, Ore., May 4 /PRNewswire/ -- West Coast Bancorp Chairman J.F. Ouderkirk today announced that the board of directors of West Coast Bancorp at an April 30 meeting voted to reject an uninvited offer from Western Bank (NASDAQ: WSBK) to combine the two companies. West Coast Bancorp's principal subsidiary is The Bank of Newport.
 According to Ouderkirk, "After careful consideration, West Coast Bancorp directors concluded that Western Bank's offer is not in the best interest of our shareholders, employees, customers and community."
 Ouderkirk said the board has received numerous expressions of support from shareholders, customers and employees for remaining independent.
 "We strongly believe in community banking," he said. "Continuing as a locally owned, independent company is a win-win situation. Our customers, employees and communities benefit and, as a result of our improved financial performance, shareholder value is enhanced."
 The Bank of Newport recently declared a dividend of 8 cents per share for the second quarter in a row.
 Ouderkirk said the board plans to call a town meeting of shareholders to discuss the company's direction and solicit shareholders' attitudes toward any future offers.
 West Coast Bancorp is an Oregon-based financial services holding company headquartered in Newport. Its principal subsidiary, The Bank of Newport, has branches in Newport, Waldport, Lincoln City, Depoe Bay and Toledo and a business banking branch in Lake Oswego. West Coast Bancorp also operates a commercial and residential mortgage brokerage business in Portland.
 -0- 5/4/93
 /CONTACT: J.F. Ouderkirk of West Coast Bancorp, 503-265-6666/
 (WSBK)


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

LM-GT -- SE012 -- 4477 05/04/93 15:51 EDT
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Publication:PR Newswire
Date:May 4, 1993
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