West Coast Bancorp Reports 2008 Second Quarter Earnings (PR Newswire)

LAKE OSWEGO, Ore., July 21 /PRNewswire-FirstCall/ -- West Coast Bancorp (Nasdaq: WCBO - News ) today announced quarterly earnings of $2.7 million or $.17 per diluted share for the second quarter of 2008, compared to second quarter 2007 earnings of $8.1 million or $.50 per diluted share. Three months ended Three months ended (Dollars in thousands, June 30, March 31, except per share data) 2008 2007 Change 2008 Change Net income $2,684 $8,135 -67% $2,000 34% Diluted Earnings Per Share $0.17 $0.50 -66% $0.13 31% Return On Average Equity 5.2% 15.5% -10.3% 3.8% 1.4% Return On Average Equity, Tangible* 5.7% 16.9% -11.2% 4.3% 1.5% Tier 1 capital ratio 9.45% 9.57% -0.12% 9.32% 0.13% Total capital ratio 10.71% 10.65% 0.06% 10.57% 0.14% Leverage ratio 8.90% 9.35% -0.45% 8.84% 0.06% Total Period End Loans $2,153,716 $2,140,942 1%... [read full story]