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WEST COAST BANCORP SHAREHOLDERS DEFEAT ATTEMPT TO OUST DIRECTORS

 NEWPORT, Ore., Aug. 13 /PRNewswire/ -- West Coast Bancorp (OTC Pink Sheets) announced today that its shareholders voted overwhelmingly against a proposal to remove six of the company's seven directors at an Aug. 11 special meeting of shareholders, opposing a hostile takeover attempt by Western Bank (NASDAQ: WSBK) of Coos Bay.
 The proposal calling for removal of all except one of the company's directors was submitted by Georges C. St. Laurent, Jr., controlling shareholder of Western Bank.
 "Our shareholders have spoken and it is clear the majority share our belief that the best way to maximize their investment in West Coast Bancorp is by continuing to operate a highly profitable community bank with an increasingly valuable franchise," said J.F. Ouderkirk, chairman of the board.
 According to an independent Inspector of Elections, 65.27 percent of shareholders voting at the special meeting opposed St. Laurent's proposal, 34.56 percent voted in favor of the resolution and 0.17 percent abstained.
 Western Bank made an uninvited merger proposal to West Coast Bancorp April 8 that was rejected as significantly inadequate by the company's board of directors April 30, after careful consideration and on advice of independent financial advisors.
 The merger proposal was withdrawn by Western Bank June 18, the same day St. Laurent called for a special meeting of shareholders to remove all of West Coast Bancorp's directors, with the exception of one director who supported the Western proposal.
 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- 8/13/93
 /NOTE TO EDITORS: West Coast Bancorp (OTC Pink Sheets) is not WCBC, California/
 /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

SB-AL -- SE011 -- 2770 08/13/93 19:02 EDT
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Publication:PR Newswire
Date:Aug 13, 1993
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