Thank you for sharing!

Your article was successfully shared with the contacts you provided.

PORTLAND-West Coast Bank has named Larry Schwartz branch manager of its downtown Portland branch. Schwartz, most recently a sales manager for Key Bank, will manage all daily bank operations and customer relations and accept consumer and commercial loans and deposits.

West Coast Bancorp is a northwest bank holding company, operating 42 offices in Oregon and Washington. West Coast Bancorp is the parent company of West Coast Bank and West Coast Trust. Earlier this week, West Coast Bancorp announced earnings of $4.11 million, or $0.25 per diluted share, for the third quarter of 2001, compared to $3.99 million, or $0.24 per diluted share in the third quarter of 2000.

Including a kiting charge of $1.2 million, after tax, in the second quarter, net income for the nine months ended September 30, 2001, was $10.51 million, or $0.64 per diluted share. Through the first nine months of 2000 — including the $3.64 million after tax non-recurring charges for litigation, severance expenses, and security losses during the first three quarters of 2000 — net income was $8.75 million, or $0.52 per diluted share.

“As it relates to overall loan growth and quality going forward, we recognize we are not immune to the economic slowdown nationally and in our market area with Oregon’s unemployment rate at 6.4% among one of the highest in the nation,” says Robert D. Sznewajs, president & CEO. Total loans as of September 30, 2001 increased $21 million, or approximately 8% annualized, from June 30, 2001.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?



Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2021 ALM Media Properties, LLC. All Rights Reserved.