West Coast Bancorp 8-K West Coast Bancorp Reports Third Quarter Earnings

Exhibit 99.1

For more information, contact:

Robert D. Sznewajs

President & CEO

(503) 598-3243

Anders Giltvedt

Executive Vice President & CFO

(503) 598-3250

WEST COAST BANCORP REPORTS THIRD QUARTER EARNINGS

- YEAR-TO-DATE DILUTED EARNINGS PER SHARE OF $1.51 INCREASED 9% OVER 2006.

- RETURN ON AVERAGE EQUITY, TANGIBLE* OF 16.6% IN THE THIRD QUARTER 2007.

- CONTINUED STRONG COMMERCIAL LOAN GROWTH IN THIRD QUARTER 2007.

Lake Oswego, OR – October 16, 2007 – West Coast Bancorp (NASDAQ: WCBO) today announced quarterly earnings of $8.3 million or $.52 per diluted share for the third quarter of 2007, compared to third quarter 2006 earnings of $7.9 million or $.49 per diluted share. Year-to-date earnings per diluted share growth and return on average equity, tangible, were 9% and 17%, respectively.

	Three months ended September 30,
(Dollars in millions, except per share data)	2007			2006			% Change
Diluted Earnings Per Share	$	0.52		$	0.49		6	%
Return On Average Equity		15.3	%		16.6	%
Return On Average Equity, Tangible*		16.6	%		18.2	%
Total Period End Loans	$	2,183		$	1,869		17	%
Total Period End Deposits	$	2,111		$	2,007		5	%

*Return on Average Equity, Tangible is a non-GAAP measure that we define and calculate as net income excluding intangible asset amortization, net of tax, divided by average equity less average intangible assets. See financial tables for a reconciliation to the GAAP measure.

"The continuation of strong growth in net interest and non-interest income in the third quarter of 2007, as compared to the same period a year ago, contributed to the 6% quarter over quarter growth in diluted quarterly earnings per share,” said Robert D. Sznewajs, President and Chief Executive Officer. “Year-to-date 2007, as compared to the same period in 2006, the diluted earnings per share increased 9%. The quarterly and year-to-date performance results in 2007 versus the same periods in 2006 compare favorably to recent industry trends in our region.”

WEST COAST BANCORP REPORTS THIRD QUARTER 2007 EARNINGS

October 16, 2007

Page 2 of 11

Financial Results:

In the third quarter of 2007, total net interest income increased $3.5 million or 13% compared to the same quarter last year primarily due to 17% loan growth from September 30, 2006. The third quarter net interest spread and net interest margin remained relatively unchanged from the same quarter in 2006, as the Company was able to match higher rates on interest bearing deposits with higher yields on loans. The third quarter 2007 net interest margin of 4.94% was slightly better than anticipated due to higher than expected construction loan balances and loan fees.

Total non-interest income rose $.7 million, or 9%, year-over-year third quarter. Excluding the $.4 million merchant services contract credit received during the third quarter of 2006, total non-interest income grew 15%. See financial tables for reconciliation. Beyond slightly lower gains on sales of loans, which were impacted by lower residential mortgage market activity, the company generated broad-based fee income growth. Deposit service charges revenues grew 11% in the third quarter primarily reflecting the 11% year-over-year growth in number of transaction deposit accounts. This account growth also boosted payment system-related revenues which, adjusted for the above mentioned merchant services credit, grew 24% from the third quarter of 2006. Due to a strong equity market and investment product sales, trust and investment services revenue grew 26% from the same quarter of 2006.

Compared to the third quarter 2006, total non-interest expense increased $1.5 million or 7% in the third quarter of 2007. Approximately one-third of this growth can be attributed to additional team members and branch locations. The 27% increase in year over year third quarter payment system expense was largely due to significantly higher transaction volumes across our payment systems product offerings. Marketing expense grew 18% from third quarter 2006 due to an aggressive direct mail schedule in the most recent quarter, which we expect to extend the growth of new transaction deposit accounts in future periods.

WEST COAST BANCORP REPORTS THIRD QUARTER 2007 EARNINGS

October 16, 2007

Page 3 of 11

The $2.7 million 2007 third quarter provision for loan losses increased significantly from $.6 million in the same quarter in 2006. The higher provision was due to a moderately negative trend in credit migration of the loan portfolio in the most recent quarter compared to the improving trend that occurred during the third quarter in 2006, as well as net charge-offs increasing to $.7 million from $.1 million in the same period in 2006. The ratio of net charge-offs to average loans (annualized) was 0.13% in the most recent quarter compared to 0.02% in the third quarter of 2006. Non-performing assets increased to $9.1 million or .34% of total assets on September 30, 2007, from $2.7 million or .11% on September 30, 2006, mainly due to higher non-performing 2-step residential construction loans.

As of September 30, 2007, we reclassified a portion of the allowance for loan losses and recorded a reserve for unfunded loan commitments. The amount reclassified into other liabilities was $1.0 million or .05% of total loans. For purposes of comparison to prior periods, the combined allowance for loan losses and reserve for unfunded commitments, defined as the total allowance for credit losses, was 1.31% as a percentage of total loans at September 30, 2007. See financial tables for details. This reclassification had no impact on our provision for loan losses expense. Any future expense related to a provision for unfunded commitments will be recorded in other non-interest expense.

Reflecting a slowing trend in risk-weighted asset growth, the Company repurchased 175,000 shares during the third quarter of 2007. As of September 30, 2007, approximately 1.1 million shares remained available for repurchase under the Company’s recently announced share repurchase program. The Company also increased its quarterly cash dividend payable on October 31, 2007, 12.5% to 13.5 cents.

WEST COAST BANCORP REPORTS THIRD QUARTER 2007 EARNINGS

October 16, 2007

Page 4 of 11

Other:

The Company will hold a Webcast conference call Wednesday, October 17 , at 8:30 a.m. Pacific Time, during which the Company will discuss results for third quarter 2007, review its strategic progress, and provide management’s current expectations for the remainder of 2007.

To access the conference call via a live Webcast, go to www.wcb.com and click on Investor Relations and the “3rd Quarter 2007 Earnings Conference Call” tab. The conference call may also be accessed by dialing 877.604.2074, ID # 15774636 a few minutes prior to 8:30 a.m. PDT. The call will be available for replay by accessing the Company’s website at www.wcb.com and following the same instructions.

West Coast Bancorp, one of Oregon Business Magazine’s 100 Best Companies to Work For, is a Northwest bank holding company with $2.6 billion in assets, and 62 offices in Oregon and Washington. The Company combines the sophisticated products and expertise of larger banks with the local decision making, market knowledge and customer service of a community bank. For more information, visit the Company’s web site at www.wcb.com.

Forward Looking Statements:

Statements in this release regarding future events, performance or results are "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995 ("PSLRA") and are made pursuant to the safe harbors of the PSLRA. Actual results could be quite different from those expressed or implied by the forward-looking statements. Do not unduly rely on forward-looking statements. They give our expectations about the future and are not guarantees. Forward-looking statements speak only as of the date they are made, and we do not undertake any obligation to update them to reflect changes that occur after that date.

WEST COAST BANCORP REPORTS THIRD QUARTER 2007 EARNINGS

October 16, 2007

Page 5 of 11

A number of factors could cause results to differ significantly from our expectations, including, among others, factors identified in our Annual Report on Form 10-K for the year ended December 31, 2006, including under the heading "Forward Looking Statement Disclosure" and in Item 1A. Risk Factors.

WEST COAST BANCORP REPORTS THIRD QUARTER 2007 EARNINGS

October 16, 2007

Page 6 of 11

	West Coast Bancorp Consolidated Income Statements
(Unaudited)	Three months ended								Nine months ended
(Dollars and shares in thousands)	September 30,						June 30,		September 30,
	2007			2006			2007		2007			2006
Net interest income
Interest and fees on loans	$	44,517		$	36,748		$	42,637	$	127,065		$	98,056
Interest on investment securities		3,129			3,485			3,397		10,268			9,921
Other interest income		96			316			114		329			519
Total interest income		47,742			40,549			46,148		137,662			108,496
Interest expense on deposit accounts		14,504			11,860			13,524		41,015			27,441
Interest on borrowings and subordinated debentures		3,401			2,394			3,900		10,201			7,023
Total interest expense		17,905			14,254			17,424		51,216			34,464
Net interest income		29,837			26,295			28,724		86,446			74,032
Provision for loan losses		2,700			625			3,500		9,000			1,533
Non-interest income
Service charges on deposit accounts		3,213			2,897			3,136		9,234			8,262
Payment systems related revenue		2,122			2,116			2,012		5,812			5,000
Trust and investment services revenues		1,662			1,322			1,649		4,803			3,997
Gains on sales of loans		650			748			967		2,921			2,141
Other		661			591			845		2,180			1,875
Gains (losses) on sales of securities		(163	)		(206	)		96		(67	)		(686	)
Total non-interest income		8,145			7,468			8,705		24,883			20,589
Non-interest expense
Salaries and employee benefits		13,312			12,209			12,544		38,369			35,223
Equipment		1,593			1,412			1,574		4,693			4,022
Occupancy		2,099			1,855			2,158		6,306			5,127
Payment systems related expense		843			666			825		2,333			1,754
Professional fees		485			680			545		1,451			1,837
Postage, printing and office supplies		973			996			969		2,818			2,639
Marketing		1,298			1,103			870		3,292			3,708
Communications		415			372			354		1,202			982
Other non-interest expense		1,584			1,845			1,661		4,677			4,994
Total non-interest expense		22,602			21,138			21,500		65,141			60,286
Income before income taxes		12,680			12,000			12,429		37,188			32,802
Provision for income taxes		4,350			4,131			4,294		12,859			11,241
Net income	$	8,330		$	7,869		$	8,135	$	24,329		$	21,561
Basic earnings per share	$	0.54		$	0.51		$	0.52	$	1.57		$	1.45
Diluted earnings per share	$	0.52		$	0.49		$	0.50	$	1.51		$	1.38
Weighted average common shares		15,536			15,386			15,567		15,528			14,904
Weighted average diluted shares		16,035			16,053			16,143		16,108			15,587
Tax equivalent net interest income	$	30,225		$	26,700		$	29,121	$	87,629		$	75,186

WEST COAST BANCORP REPORTS THIRD QUARTER 2007 EARNINGS

October 16, 2007

Page 7 of 11

	West Coast Bancorp Consolidated Balance Sheets
	Sept. 30			Sept. 30			June 30,
(Dollars and shares in thousands, unaudited)	2007			2006			2007
Assets:
Cash and cash equivalents	$	101,372		$	119,301		$	82,414
Investments		271,409			295,753			267,614
Total loans		2,183,301			1,868,564			2,140,942
Allowance for loan losses		(27,534	)		(22,404	)		(26,496	)
Loans, net		2,155,767			1,846,160			2,114,446
Goodwill and other intangibles		14,611			15,182			14,730
Other assets		104,452			93,045			105,195
Total assets	$	2,647,611		$	2,369,441		$	2,584,399
Liabilities and Stockholders’ Equity:
Demand	$	500,120		$	508,719		$	482,698
Savings and interest-bearing demand		347,560			336,557			347,028
Money market		666,352			622,652			668,373
Certificates of deposits		597,421			539,319			547,054
Total deposits		2,111,453			2,007,247			2,045,153
Borrowings and subordinated debentures		285,141			146,111			296,727
Other liabilities		33,106			21,827			28,656
Total liabilities		2,429,700			2,175,185			2,370,536
Stockholders’ equity		217,911			194,256			213,863
Total liabilities and stockholders’ equity	$	2,647,611		$	2,369,441		$	2,584,399
Common shares outstanding period end		15,604			15,532			15,748
Book value per common share	$	13.97		$	12.51		$	13.58
Tangible book value per common share	$	13.03		$	11.53		$	12.65

	West Coast Bancorp Period End Loan Portfolio By Category
	Sept. 30		Sept. 30		Change					June 30,
(Dollars in thousands, unaudited)	2007		2006		Amount			%		2007
Commercial loans	$	530,196	$	452,035	$	78,161		17	%	$	515,590
Real estate construction loans		519,870		308,886		210,984		68	%		503,414
Real estate mortgage loans		305,675		274,812		30,863		11	%		294,447
Real estate commercial loans		804,200		805,458		(1,258	)	0	%		803,155
Installment and other consumer loans		23,360		27,373		(4,013	)	-15	%		24,336
Total loans	$	2,183,301	$	1,868,564	$	314,737		17	%	$	2,140,942

WEST COAST BANCORP REPORTS THIRD QUARTER 2007 EARNINGS

October 16, 2007

Page 8 of 11

	West Coast Bancorp Return on average equity tangible reconciliation1
	For the three months ended Sept. 30,						For the nine months ended Sept. 30,
(Dollars in thousands)	2007			2006			2007			2006
Net income	$	8,330		$	7,869		$	24,329		$	21,561
Less: intangible asset amortization, net of tax*		78			99			274			185
Net income, tangible	$	8,408		$	7,968		$	24,603		$	21,746
Average shareholders’ equity	$	215,550		$	188,496		$	209,808		$	171,254
Less: average intangibles		(14,660	)		(15,266	)		(14,805	)		(5,658	)
Average shareholders’ equity, tangible	$	200,890		$	173,230		$	195,003		$	165,596
*Federal income tax provision applied at 35%.
Return on average equity		15.3	%		16.6	%		15.5	%		16.8	%
Return on average equity, tangible		16.6	%		18.2	%		16.9	%		17.6	%

¹ Management uses return on equity, tangible internally and has disclosed it to investors based on its belief that the figure makes it easier to compare the Company’s performance to other financial institutions that do not have merger-related intangible assets and is commonly used in the industry. Ratios have been annualized where appropriate.

	West Coast Bancorp Noninterest income/payment systems income reconciliation 2
(Dollars in thousands)	For the three months ended Sept. 30,				Variance $$		Variance %
	2007		2006
Noninterest income per GAAP	$	8,145	$	7,468	$	677		9	%
Less: merchant services contract credit		—		400
Noninterest income excluding adjustment	$	8,145	$	7,068	$	1,077		15	%
Payment system income per GAAP	$	2,122	$	2,116	$	6		0	%
Less: merchant services contract credit		—		400
Payment system income excluding adjustment	$	2,122	$	1,716	$	406		24	%

² Management has adjusted percentage growth and has disclosed it to investors based on its belief that the figure makes it easier to compare the Company’s performance in the current year to the prior year.

WEST COAST BANCORP REPORTS THIRD QUARTER 2007 EARNINGS

October 16, 2007

Page 9 of 11

		West Coast Bancorp Financial Information
		Third				Third			Second
(Dollars in thousands except for per share data, unaudited)		Quarter				Quarter			Quarter			Year to date			Year to date
(all rates have been annualized where appropriate)		2007				2006			2007			2007			2006
PERFORMANCE RATIOS
- Return on average assets		1.29	%			1.35	%		1.29	%		1.29	%		1.35	%
- Return on average common equity		15.33	%			16.56	%		15.51	%		15.50	%		16.83	%
- Return on average tangible equity		16.60	%			18.24	%		16.89	%		16.87	%		17.56	%
- Non-interest income to average assets		1.26	%			1.28	%		1.38	%		1.32	%		1.29	%
- Non-interest expense to average assets		3.49	%			3.63	%		3.41	%		3.47	%		3.78	%
- Efficiency ratio, tax equivalent		58.7	%			61.5	%		57.0	%		57.9	%		62.5	%
NET INTEREST MARGIN
- Yield on interest-earning assets		7.87	%			7.50	%		7.84	%		7.83	%		7.29	%
- Rate on interest-bearing liabilities		3.86	%			3.51	%		3.84	%		3.79	%		3.10	%
- Net interest spread		4.01	%			3.99	%		4.00	%		4.04	%		4.19	%
- Net interest margin		4.94	%			4.89	%		4.90	%		4.94	%		5.00	%
AVERAGE ASSETS
- Investment securities	$	267,681			$	298,988		$	285,156		$	288,377		$	290,946
- Commercial loans	$	516,634			$	449,107		$	502,749		$	495,833		$	411,016
- Real estate construction loans		507,613				287,558			474,660			460,861			256,736
- Real estate mortgage loans		300,114				271,511			289,812			290,915			260,395
- Real estate commercial loans		798,940				801,354			790,372			796,294			744,463
- Installment and other consumer loans		23,799				28,567			25,967			25,172			27,948
- Total loans	$	2,147,100			$	1,838,097		$	2,083,560		$	2,069,075		$	1,700,558
- Total interest earning assets	$	2,426,360			$	2,167,250		$	2,381,652		$	2,370,055		$	2,009,767
- Other assets		143,180				143,854			144,857			143,374			123,771
- Total assets	$	2,569,540			$	2,311,104		$	2,526,509		$	2,513,429		$	2,133,538
				��
AVERAGE LIABILITIES & EQUITY
- Demand deposits	$	490,336			$	489,796		$	470,622		$	474,828		$	455,975
- Savings and Interest bearing demand		341,496				338,642			348,086			273,383			337,452
- Money market		680,027				587,174			659,817			661,037			531,245
- Certificates of deposits		565,550				504,894			538,713			547,622			431,154
- Total deposits	$	2,077,409			$	1,920,506		$	2,017,238		$	1,956,870		$	1,755,826
- Borrowings and subordinated debentures	$	252,314			$	182,085		$	274,093		$	250,011		$	188,422
- Total interest bearing liabilities	$	1,839,387			$	1,612,796		$	1,820,709		$	1,804,853		$	1,488,273
- Other liabilities		514,603				509,812			495,451			498,768			474,011
- Total liabilities	$	2,353,990			$	2,122,608		$	2,316,160		$	2,303,621		$	1,962,284
- Average common equity		215,550				188,496			210,349			209,808			171,254
- Total average liabilities and common equity	$	2,569,540			$	2,311,104		$	2,526,509		$	2,513,429		$	2,133,538
AVERAGE ASSET/LIABILITY RATIOS
- Average stockholders’ equity to average assets		8.39	%			8.16	%		8.33	%		8.35	%		8.03	%
- Average int. earning assets to int. bearing liabilities		131.9	%			134.4	%		130.8	%		131.3	%		135.0	%
- Average loans to average assets		83.6	%			79.5	%		82.5	%		82.3	%		79.7	%
- Interest bearing deposits to assets		61.8	%			61.9	%		61.2	%		59.0	%		57.1	%

WEST COAST BANCORP REPORTS THIRD QUARTER 2007 EARNINGS

October 16, 2007

Page 10 of 11

	West Coast Bancorp Allowance For Credit Losses and Net Charge-offs
(Dollars in thousands, unaudited)	Quarter ended Sept. 30, 2007			Quarter ended Sept. 30, 2006			Quarter ended June 30, 2007
Allowance for loan losses, beginning of period	$	26,496		$	21,883		$	24,464
Provision for loan losses		2,700			625			3,500
Reclassification to reserve for unfunded commitments		(972	)		—			—
Charge-offs		990			330			1,567
Recoveries		300			226			99
Net charge-offs		690			104			1,468
Total allowance for loan losses	$	27,534		$	22,404		$	26,496
Reserve for unfunded commitments		972			—			—
Total allowance for credit losses	$	28,506		$	22,404		$	26,496
Net loan charge-offs to average loans (annualized)		0.13	%		0.02	%		0.28	%

	Year to date			Year to date
	Sept. 30,			Sept. 30,
(Dollars in thousands, unaudited)	2007			2006
Allowance for loan losses, beginning of period	$	23,017		$	20,469
Provision for loan losses		9,000			1,533
Reclassification to reserve for unfunded commitments		(972	)		—
Charge-offs		4,076			1,147
Recoveries		565			662
Net Charge-offs		3,511			485
Allowance for loan losses, from acquisition		—			887
Total allowance for loan losses	$	27,534		$	22,404
Reserve for unfunded commitments		972			—
Total allowance for credit losses	$	28,506		$	22,404
Net loan charge-offs to average loans (annualized)		0.23	%		0.04	%

WEST COAST BANCORP REPORTS THIRD QUARTER 2007 EARNINGS

October 16, 2007

Page 11 of 11

	West Coast Bancorp Non-performing Assets
(Dollars in thousands, unaudited)	Sept. 30, 2007			Sept. 30, 2006			June 30, 2007
Non-accruing loans	$	7,867		$	2,652		$	6,116
90 day delinquencies		—			—			—
Total non-performing loans		7,867			2,652			6,116
Other real estate owned		1,183			—			—
Total non-performing assets	$	9,050		$	2,652		$	6,116
Allowance for loan losses to total loans		1.26	%		1.20	%		1.24	%
Allowance for credit losses to total loans		1.31	%		1.20	%		1.24	%
Non-performing loans to total loans		0.36	%		0.14	%		0.29	%
Allowance for loan losses to non-performing loans		350	%		845	%		433	%
Non-performing assets to total assets		0.34	%		0.11	%		0.24	%
Allowance for loan losses to non-performing assets		304	%		845	%		433	%