SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
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FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of
the Securities Exchange Act of 1934
Date of Report (Date of earliest
event reported):
June 26, 2002
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WEST COAST BANCORP
(Exact name of registrant as specified in charter)
Oregon
(State or other jurisdiction of incorporation)
0-10997
(SEC File Number)
93-810577
(IRS Employer Identification No.)
5335 Meadows Road, Suite 201
Lake Oswego, Oregon 97035
(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code:
(503) 684-0884
Item 5. Other Events.
West Coast Bancorp ("Bancorp") raised $7.5 million from its participation
in a pooled trust preferred offering that funded June 26, 2002. Bancorp issued
long-term floating rate trust preferred securities, and, as with its December
2001 trust preferred financing in the amount of $5.0 million, concurrently
entered into a swap agreement fixing the interest rate on the securities for
five years. The securities are redeemable at any time after five years and under
certain other circumstances.
Bancorp is a Northwest bank holding company operating 42 offices in
western Oregon and Washington. Bancorp is the parent company of West Coast Bank
and West Coast Trust.
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the
registrant has duly caused this report to be signed on its behalf by the
undersigned thereunto duly authorized.
WEST COAST BANCORP
Dated: June 26, 2002 By: /s/ Anders Giltvedt
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Anders Giltvedt
Executive Vice President and
Chief Financial Officer