West Coast Bancorp

West Coast Bancorp, the Newport Beach bank holding company, posted a loss of $1.4 million, or 16 cents a share, for the first quarter. That contrasted with earnings of $95,000, or 1 cent a share, for the first quarter of 1992. The company said the 1993 loss resulted from lower net interest income, primarily because of lower loan volumes, and losses associated with loans and real estate. Assets as of March 31 were $347.3 million, 20% less than the $435.7 million recorded a year earlier.

West Coast Bancorp, a California bank holding company, said Monday that it is merging into its majority-owned subsidiary, Sunwest Bank in Tustin, to save operating costs for both firms. The parent company said in a news release that West Coast shareholders will receive about 3.3 shares of Sunwest stock for every 100 shares of West Coast stock. West Coast, which once was a multi-bank holding company, owns 56.5% of Sunwest.

West Coast Bancorp, Tustin bank holding company for Sunwest Bank, said net income for the second quarter totaled $353,000, or 4 cents a share, down 26% from $475,000, or 5 cents a share, a year ago. The recent quarter included a tax provision of $498,000, compared to $71,000 for the 1999 second quarter. Total assets grew 12% to $191.6 million.

The Tustin bank holding company said net income for the first quarter was $364,000, or 4 cents a share, a drop of 11% from the $409,000, or 4 cents a share, recorded for the same period of 2000. Total assets grew 8% to $208.1 million.

West Coast Bancorp, a bank holding company, reported earnings for the third quarter of $1.2 million, or 13 cents a share, contrasted with a loss of $1.1 million, or 12 cents a share, for the third quarter of 1991. The 1992 figure included $1.6 million in non-interest income from a lawsuit settlement. For the first nine months of the year, the company reported a loss of $127,000, or 1 cent a share, compared to a loss of $683,000, or 7 cents a share, for the same period in 1991. Assets as of Sept.

A group including Western Acquisitions LLC disclosed Wednesday that it has increased its stake in West Coast Bancorp, the Tustin holding company for Sunwest Bank, to 24%. In a filing Wednesday with the Securities and Exchange Commission, the group said it purchased 606,341 shares of West Coast's common stock on Dec. 29 for $785,211, giving it control of 2.4 million shares. On Oct. 30, the group reported a 19.1% stake in the holding company.

West Coast Bancorp, Tustin bank holding company for Sunwest Bank, said net income for the second quarter totaled $353,000, or 4 cents a share, down 26% from $475,000, or 5 cents a share, a year ago. The recent quarter included a tax provision of $498,000, compared to $71,000 for the 1999 second quarter. Total assets grew 12% to $191.6 million.

West Coast Bancorp: The Tustin parent company of Sunwest Bank posted net income of $475,000, or 5 cents a share, for the second quarter, 91% higher than the $249,000, or 3 cents a share, for the corresponding period last year. Total assets rose 10% to $170.7 million.