West Coast Bancorp Posts Profit

NEWPORT BEACH — 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. 30 were $407.4 million, down 9% from $449.4 million a year earlier. West Coast Bancorp operates three subsidiaries: Sunwest Bank and Heritage Thrift & Loan in Orange County; and Sacramento First National Bank in Sacramento County.