U.S. SECURITIES AND EXCHANGE COMMISSION
                             Washington, D.C. 20549

                                   FORM 10-QSB

           [X] QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE
                         SECURITIES EXCHANGE ACT OF 1934

                For the quarterly period ended September 30, 2001


             [ ] TRANSITION REPORT UNDER SECTION 13 OR 15(d) OF THE
                                  EXCHANGE ACT

                    For the transition period from N/A to N/A

                         COMMISSION FILE NUMBER: 0-10897


                               WEST COAST BANCORP
                     (Exact name of small business issuer as
                            specified in its charter)

CALIFORNIA                                      95-3586860
(State or other jurisdiction                    (IRS Employer
of incorporation or organization)               Identification No.)

                          17542 E. 17th STREET, SUITE 200
                            Tustin, California 92780
                    (Address of principal executive offices)

                                 (714) 730-4499
              (Registrant's telephone number, including area code)

                                       N/A
              (Former name, former address, and former fiscal year,
                          if changed since last report)

     Check whether the issuer (1) filed all reports required to be filed by
 Section 13 or 15(d) of the Exchange Act during the past 12 months (or for such
 shorter period that the registrant was required to file such reports), and (2)
  has been subject to such filing requirements for the past 90 days. YES X NO__


              Number of shares outstanding of each of the issuer's
               classes of common equity as of September 30, 2001:

                                    9,965,283

             Transitional Small Business Disclosure Format. Yes __ No X



                      This document contains a total of 19 pages.



<PAGE>


                          PART I. FINANCIAL INFORMATION

ITEM 1. Financial Statements

                       WEST COAST BANCORP AND SUBSIDIARIES
                           CONSOLIDATED BALANCE SHEETS
<TABLE>
<CAPTION>

                                                           September 30,  December 31,
                                                               2001          2000
(in thousands, except share data) ........................  (Unaudited)
                                                             ---------    ----------
ASSETS
<S>                                                          <C>          <C>
Cash and due from banks ..................................   $  10,031    $  11,157
Mutual funds .............................................      34,682       13,311
Investment securities available-for-sale
     at fair value .......................................      42,862       38,531

Loans ....................................................     141,871      132,757
Less: allowance for loan losses ..........................      (2,510)      (2,554)
                                                            ----------    ---------
Net loans ................................................     139,361      130,203

Premises and equipment, net ..............................       1,459          983
Deferred taxes, net ......................................         153          500
Other assets .............................................       1,670        1,624
                                                             ---------    ---------
                                                             $ 230,218    $ 196,309
                                                             =========    =========
LIABILITIES
Deposits:
     Demand, non interest-bearing ........................   $  73,864    $  69,165
     Savings, money market & interest-bearing demand .....      84,862       56,025
     Time certificates under $100,000 ....................      14,327       13,327
     Time certificates of $100,000 or more ...............      30,168       27,133
                                                              --------    ---------
     Total deposits ......................................     203,221      165,650

Federal Home Loan Bank borrowings ........................       1,000        7,000
Other liabilities ........................................       1,553        1,606
                                                               -------    ---------
     Total liabilities ...................................     205,774      174,256

Commitments and contingencies

Minority interest in subsidiary ..........................      10,613        9,549

SHAREHOLDERS' EQUITY
Common stock, no par value - 30,000,000
     shares authorized, 9,965,283 and 9,935,283 shares
     issued and outstanding in 2001 and 2000, respectively      31,169       31,136
Accumulated deficit ......................................     (17,524)     (18,350)
Accumulated other comprehensive income (loss), net of tax          186         (282)
                                                               -------    ---------
     Total shareholders' equity ..........................      13,831       12,504
                                                             ---------    ---------
                                                             $ 230,218    $ 196,309
                                                             =========    =========

</TABLE>




          (See accompanying notes to consolidated financial statements)
<PAGE>


                       WEST COAST BANCORP AND SUBSIDIARIES
                         CONSOLIDATED INCOME STATEMENTS
                                   (Unaudited)


<TABLE>
<CAPTION>


                                      Three Months Ended     Nine Months Ended
                                         September 30,       September 30,
(in thousands, except share data)     2001       2000        2001     2000
                                      ----------------------------------------
INTEREST INCOME:
<S>                                    <C>        <C>       <C>       <C>
Loans, including fees ..............   $ 2,936    $ 3,212   $ 9,169   $ 9,757
Investment securities ..............       765        755     2,246     2,259
Mutual funds .......................       347        150       904       312
Federal funds sold .................        --         --        --         6
                                        ------    -------    ------   -------
     Total interest income .........     4,048      4,117    12,319    12,334

INTEREST EXPENSE:
Interest on deposits ...............       949        925     2,923     2,873
Other interest expense .............        14        161       217       493
                                        ------     ------    ------   -------
     Total interest expense ........       963      1,086     3,140     3,366
                                        ------     ------    ------   -------
     Net interest income ...........     3,085      3,031     9,179     8,968

Provision for credit losses ........       (28)        20        72        20
                                        -------    ------    ------   -------
     Net interest income after
     provision for credit losses ...     3,113      3,011     9,107     8,948

Other operating income .............       252        222       715       676
Other operating expenses ...........     2,664      2,197     7,244     6,147
Minority interest in net income
  of subsidiary ....................       193        278       705       915
                                        ------      -----    ------   -------
     Income before income taxes ....       508        758     1,873     2,562

Income tax expense .................       286        446     1,047     1,488
                                       -------    -------   -------   -------

     Net income ....................   $   222    $   312   $   826   $ 1,074
                                       =======    =======   =======   =======

Basic and diluted earnings per share   $   .02    $   .03   $   .08   $   .12
                                       =======    =======   =======   =======

</TABLE>


          (See accompanying notes to consolidated financial statements)


<PAGE>


                       WEST COAST BANCORP AND SUBSIDIARIES
                 CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME
                                   (Unaudited)

<TABLE>
<CAPTION>

                                        Three Months Ended  Nine Months Ended
                                         September 30,        September 30,
(in thousands)                           2001       2000      2001  2000
                                        --------------------------------------
<S>                                       <C>      <C>      <C>      <C>
Net income ............................   $  222   $  312   $  826   $1,074

Other comprehensive income, net of tax:
  Unrealized gain on
  available-for-sale investments
  arising during period ...............      114      269      468       63
                                          ------   ------   ------   ------

Other comprehensive income ............      114      269      468       63
                                          ------   ------   ------   ------

Comprehensive income ..................   $  336   $  581   $1,294   $1,137
                                          ======   ======   ======   ======

</TABLE>





                       WEST COAST BANCORP AND SUBSIDIARIES
            CONSOLIDATED STATEMENT OF CHANGES IN SHAREHOLDERS' EQUITY
                                   (Unaudited)

<TABLE>
<CAPTION>

                                                                 Accumulated
                                    Common Stock                     Other         Share-
                                  ----------------  Accumulated Comprehensive      holders'
(in thousands)                     Shares   Amount   Deficit     Income (loss)     Equity
                                  ---------------------------------------------------------

<S>                                <C>     <C>        <C>         <C>            <C>
Balance at December 31, 2000       9,935   $ 31,136   $(18,350)   $    (282)     $ 12,504
Net income ..................         --         --        826           --           826
Stock options exercised .....         30         33         --           --            33
Change in net unrealized
  gain on available-for-sale
  investments ...............         --         --         --          468           468
                                   ------------------------------------------------------
Balance at September 30, 2001      9,965   $ 31,169   $(17,524)    $    186      $ 13,831
                                   =======================================================


</TABLE>

          (See accompanying notes to consolidated financial statements)


<PAGE>


                       WEST COAST BANCORP AND SUBSIDIARIES
                      CONSOLIDATED STATEMENTS OF CASH FLOWS
                                   (Unaudited)

<TABLE>
<CAPTION>

                                                                                    Nine Months Ended
                                                                                       September 30,
(in thousands)                                                                      2001       2000
                                                                                --------------------------
Cash flows from operating activities:
<S>                                                                                <C>         <C>
   Net income ..................................................................   $    826    $  1,074
   Adjustments to reconcile net income to net
     cash provided by operating activities:
     Depreciation and amortization .............................................        297         383
     Amortization and accretion from investment securities .....................         63          34
     Minority interest in net income of subsidiary .............................        705         915
     Write-down of real estate owned ...........................................         --          20
     Gain on sale of real estate owned .........................................         --         (79)
     Deferred tax benefit ......................................................         --         832
     Loss on sale of securities ................................................          8          16
     Provision for credit losses ...............................................         72          20
   Increase in other assets ....................................................        (46)         (5)
   (Decrease) increase in other liabilities ....................................       (386)        328
                                                                                    -------    --------
   Net cash provided by operating activities ...................................      1,539       3,538

Cash flows from investing activities:
   Proceeds from maturities and paydowns of investment securities
     available-for-sale ........................................................      7,316       2,974
   Purchase of investment securities available-for-sale ........................    (10,315)     (1,628)
   Net (increase) decrease  in loans ...........................................     (9,126)      6,525
Proceeds from sales of real estate owned .......................................         --         554
   Proceeds from sales of premises and equipment ...............................          6          --
   Purchase of premises and equipment ..........................................       (779)       (313)
                                                                                    -------    --------
   Net cash (used in) provided by investing activities .........................    (12,898)      8,112

Cash flows from financing activities:
   Net increase (decrease) in deposits .........................................     37,571      (7,979)
   Principal payments on other borrowed funds ..................................         --         (37)
   Repayment of capital lease obligation .......................................         --        (123)
   Advances from Federal Home Loan Bank ........................................      8,000       7,104
   Repayments of advances from Federal Home Loan Bank ..........................    (14,000)     (8,104)
   Stock options exercised .....................................................         33          --
                                                                                   --------    --------
   Net cash provided by (used in) financing activities .........................     31,604      (9,139)
                                                                                   --------    --------
Increase in cash and cash equivalents ..........................................     20,245       2,511

Cash and cash equivalents at beginning of year .................................     24,468      11,824
                                                                                   --------    --------
Cash and cash equivalents at end of year .......................................   $ 44,713    $ 14,335
                                                                                   ========    ========

Supplemental  disclosures of cash flow information:
  Cash paid during the period for:
     Interest ..................................................................   $  3,232    $  3,479
     Income taxes ..............................................................      1,325         340

</TABLE>

          (See accompanying notes to consolidated financial statements)


<PAGE>
                       WEST COAST BANCORP AND SUBSIDIARIES
                   NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
                               SEPTEMBER 30, 2001
                                   (Unaudited)


(1)      BASIS OF PRESENTATION

         The unaudited  financial  statements have been prepared pursuant to the
         rules and regulations of the Securities and Exchange  Commission and do
         not include all of the information and footnotes required by accounting
         principles  generally  accepted  in the United  States.  The  unaudited
         consolidated  financial statements reflect all adjustments,  consisting
         primarily of normal recurring adjustments, which are, in the opinion of
         management, necessary for a fair statement of the results of operations
         for the interim  periods.  Results for the three and nine month periods
         ended September 30, 2001 are not necessarily indicative of results that
         may be  expected  for any other  interim  period,  or for the year as a
         whole.  All  significant  intercompany  balances have been  eliminated.
         These  financial  statements  should  be read in  conjunction  with the
         Company's   Form  10-KSB  filed  with  the   Securities   and  Exchange
         Commission.

         West Coast Bancorp (separately, "West Coast" and, with its subsidiaries
         on a consolidated  basis,  the  "Company") is a California  corporation
         organized  in February  1981 and is a registered  bank holding  company
         subject  to the Bank  Holding  Company  Act of 1956,  as  amended  (the
         "BHCA").  West Coast's primary  subsidiary is Sunwest Bank ("Sunwest").
         On  September  13,  1996,  Western  Acquisitions,  L.L.C.  and  Western
         Acquisition Partners, L.P.,  (collectively,  "Western"),  affiliates of
         Hovde Financial, Inc., acquired a 43.5% interest in Sunwest.

         On June 22, 2001,  West Coast and Sunwest entered into an Agreement and
         Plan of  Reorganization  pursuant  to which West Coast would merge with
         and into  Sunwest  and each  shareholder  of West Coast  would  receive
         0.03304  shares of  Sunwest  common  stock for each share of West Coast
         common  stock  they  owned at the  time of the  merger.  Following  the
         reorganization,   shareholders   of  West  Coast  would   directly  own
         substantially  the same  percentage of Sunwest that they  currently own
         through West Coast. The Company has obtained the necessary  shareholder
         approval  for the merger as of October 16, 2001 and the approval of the
         California  Department  of  Financial  Institutions,  and the merger is
         subject to receipt of the necessary regulatory approval from the FDIC.


(2)      RECENT ACCOUNTING PRONOUNCEMENTS

          In September 2000, the Financial  Accounting  Standards Board ("FASB")
          issued Statement of Financial  Accounting  Standards ("SFAS") No. 140,
          "Accounting  for  Transfers  and  Servicing  of  Financial  Assets and
          Extinguishment  of  Liabilities,"  a replacement of SFAS No. 125. This
          Statement revises the standards for securitization and other transfers
          of financial  assets and collateral and requires  certain  disclosures
          and  is  effective  as  of  March  31,  2001.  The  adoption  of  this
          pronouncement  did  not  have  a  material  impact  on  the  Company's
          financial statements.

          In June 2001, the FASB approved SFAS No. 141, "Business Combinations,"
          and SFAS No. 142,  "Goodwill  and Other  Intangible  Assets." SFAS 141
          requires that all business combinations  initiated after June 30, 2001
          be  accounted  for using the  purchase  method.  SFAS 142  changes the
          accounting   for   goodwill   from  an   amortization   method  to  an
          impairment-only  approach.  Instead of amortization,  goodwill will be
          subject to at least an annual  assessment for impairment by applying a
          fair-value-based  test.  Intangible  assets acquired must be separated
          from goodwill and amortized  over their useful life.  The Company does
          not presently have any goodwill  recorded;  thus  Management  does not
          believe  that the  effects of the new  standards  will have a material
          impact on the Company's financial statements.

<PAGE>


                       WEST COAST BANCORP AND SUBSIDIARIES
                   NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
                               SEPTEMBER 30, 2001
                                   (Unaudited)


          In August  2001,  the FASB issued SFAS No.  144,  "Accounting  for the
          Impairment  or Disposal  of  Long-Lived  Assets."  This  Statement  is
          effective as of January 1, 2002 and addresses financial accounting and
          reporting for the  impairment or disposal of long-lived  assets.  This
          Statement  supersedes  FASB  Statement  No.  121,  Accounting  for the
          Impairment  of  Long-Lived  Assets  and for  Long-Lived  Assets  to Be
          Disposed Of and the accounting and reporting provisions of APB Opinion
          No. 30, Reporting the Results of Operations - Reporting the Effects of
          Disposal of a Segment of a Business,  and  Extraordinary,  Unusual and
          Infrequently Occurring Events and Transactions,  for the disposal of a
          segment of a business (as previously  defined in that  Opinion).  This
          Statement also amends ARB No. 51, Consolidated Financial Statements to
          eliminate the exception to  consolidation  for a subsidiary  for which
          control  is  likely  to  be  temporary.  This  Statement  describes  a
          probability-weighted  cash  flow  estimation  approach  to  deal  with
          situations  in which  alternative  courses  of action to  recover  the
          carrying  amount of a long-lived  asset are under  consideration  or a
          range is estimated for the amount of possible future cash flows.  This
          Statement also establishes a "primary-asset" approach to determine the
          cash flow estimation period for a group of assets and liabilities that
          represents  the unit of accounting  for a long-lived  asset to be held
          and used.  Management  does not  believe  that the  effects of the new
          standards  will  have a  material  impact on the  Company's  financial
          statements.



<PAGE>


                       WEST COAST BANCORP AND SUBSIDIARIES
                   NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
                               SEPTEMBER 30, 2001
                                   (Unaudited)



(3)      EARNINGS PER SHARE

         The following is a reconciliation  of basic earnings per share (EPS) to
         diluted EPS for the three and nine month  periods  ended  September 30,
         2001 and 2000.


<TABLE>
<CAPTION>


(dollars and shares         Three Months Ended                Three Months Ended
 in thousands)              September 30, 2001                September 30, 2000
                        ----------------------------------------------------------
                        Net              Per Share       Net             Per Share
                        Income  Shares    Amount         Income  Shares   Amount
                        ----------------------------------------------------------
<S>                    <C>     <C>     <C>              <C>     <C>       <C>
Basic EPS:
Income available to
 common shareholders   $ 222   9,965   $   .02           $ 312   9,329   $   .03
Effect of dilutive
 securities:
Stock options ......      --       5        --              --      15        --
                       -----------------------------------------------------------
Diluted EPS:
Income available to
 common shareholders
 plus assumed
 conversions .......   $ 222   9,970   $   .02           $ 312   9,344   $   .03
                       ===========================================================

</TABLE>

<TABLE>
<CAPTION>

                         Nine Months Ended                Nine Months Ended
                        September 30, 2001               September 30, 2000
                       -----------------------------------------------------------
                       Net                Per Share     Net              Per Share
                       Income    Shares    Amount       Income  Shares    Amount
                       -----------------------------------------------------------
<S>                    <C>       <C>     <C>            <C>       <C>      <C>
Basic EPS:
Income available to
 common shareholders   $  826    9,963   $   .08        $1,074    9,329    $ .12
Effect of dilutive
 securities:
Stock options ......       --        4        --            --        9       --
                        ----------------------------------------------------------
Diluted EPS:
Income available to
 common shareholders
 plus assumed
 conversions .......   $  826    9,967   $   .08        $1,074    9,338    $ .12
                       ===========================================================

</TABLE>

<PAGE>
                       WEST COAST BANCORP AND SUBSUDIARIES
                   NOTES TO CONSOLODATED FINANCIAL STATEMENTS
                               SEPTEMBER 30, 2001
(4) LOANS

         A summary of loans follows:
<TABLE>
<CAPTION>
                                             September 30,  December 31,
(in thousands)                                    2001         2000
                                             ---------------------------
<S>                                           <C>          <C>
Commercial loans not secured by real estate   $  37,721    $  38,081
Real estate mortgage loans ................      98,339       88,244
Real estate construction ..................       2,429        4,454
Personal loans not secured by real estate .       3,671        2,281
Unearned income, discounts and fees .......        (289)        (303)
                                              ---------    ---------
                                              $ 141,871    $ 132,757
                                              =========    =========
</TABLE>

(5)      OTHER OPERATING INCOME

         A summary of other operating income follows:
<TABLE>
<CAPTION>

                                    Three Months Ended      Nine Months Ended
                                     September 30,           September 30,
(in thousands)                        2001   2000             2001   2000
                                    ----------------------------------------
<S>                                   <C>    <C>              <C>    <C>
Depositor charges .................   $184   $174             $560   $555
Service charges, commissions & fees     61     25              129     85
Other income ......................      7     23               26     36
                                      --------------------------------------
                                      $252   $222             $715   $676
                                      ======================================
</TABLE>

(6)      OTHER OPERATING EXPENSES

         A summary of other operating expenses is as follows:
<TABLE>
<CAPTION>

                                Three Months Ended    Nine Months Ended
                                  September 30,         September 30,
(in thousands)                       2001      2000      2001      2000
                                  ---------------------------------------
<S>                               <C>       <C>       <C>       <C>
Salaries and employee benefits    $ 1,152   $   963   $ 3,314   $ 2,914
Occupancy .....................       363       223       807       710
Customer service ..............       248       230       722       644
Professional services .........       180       191       556       363
Data processing ...............       148       165       426       448
Depreciation and amortization .       105       122       297       383
Advertising and promotion .....       104        50       234       133
Stationery and supplies .......        97        33       181        81
Telephone .....................        44        27        94        71
Collection ....................        17         2        33        21
Printing & postage ............        16        16        51        53
Regulatory fees and assessments        15        15        42        42
Insurance .....................         8         9        26        28
Net cost of operation of REO ..        --         6        --       (97)
Miscellaneous .................       167       145       461       353
                                  --------------------------------------
                                  $ 2,664   $ 2,197   $ 7,244   $ 6,147
                                  ======================================
</TABLE>
<PAGE>


ITEM 2. Management's  Discussion and Analysis of Financial Condition and Results
of Operations


The following presents management's  discussion and analysis of the consolidated
financial  condition and operating results of the Company for the three and nine
month periods ended  September 30, 2001 and 2000. The discussion  should be read
in conjunction with the Company's unaudited  consolidated  financial  statements
and the notes thereto appearing elsewhere in this report.

Certain  statements  in this Report on Form 10-QSB  constitute  "forward-looking
statements" under the Private  Securities  Litigation Act of 1995, which involve
risk and  uncertainties.  The Company's actual results may differ  significantly
from the results  discussed  in such  forward-looking  statements.  Factors that
might cause such a difference  include but are not limited to global,  political
and economic changes related to the terrorist  attacks of September 11, 2001 and
their aftermath, economic conditions, competition in the geographic and business
areas in which the Company  conducts its  operations,  fluctuations  in interest
rates, credit quality and government  regulation.  Factors that might cause West
Coast not to merge into Sunwest include failure to obtain  regulatory  approval.
For additional  information  concerning  these factors,  see "Item 1. Business -
Summary of Business  Considerations  and Certain  Factors that May Affect Future
Results of  Operations  and/or Stock Price"  contained in the  Company's  Annual
Report on Form 10-KSB for the year ended December 31, 2000.

GENERAL

The Company  recorded  net income of $222,000  and $826,000 or $.02 and $.08 per
share, respectively, during the three and nine month periods ended September 30,
2001, as compared with net income of $312,000 and  $1,074,000,  or $.03 and $.12
per share,  during the same respective periods in 2000. The decrease in earnings
was  primarily  due to increased  operating  expenses  during the three and nine
months ended September 30, 2001, as compared to the same periods last year.

The Company had total assets, loans and deposits as follows:
<TABLE>
<CAPTION>
                 September 30,   December 31,   September 30,  December 31,
(in thousands)       2001          2000            2000          1999
                 ----------------------------------------------------------
<S>                <C>           <C>             <C>            <C>
Total assets....   $230,218      $196,309        $180,114       $186,823
Loans ..........    141,871       132,757         126,505        133,008
Deposits .......    203,221       165,650         150,667        158,646

</TABLE>

The $34 million increase in total assets from December 31, 2000 to September 30,
2001,  occurred  primarily due to increases of $21 million in mutual  funds,  $4
million in investment  securities and a $9 million increase in loans at Sunwest.
The increase in assets during this period was funded by increases of $38 million
in deposits and $2 million in earnings and comprehensive  income,  partly offset
by a decrease in Federal Home Loan Bank borrowings of $6 million.  From December
31, 2000 to  September  30,  2001,  noninterest-bearing  deposits  increased  $5
million,  savings,  money market and interest-bearing  demand deposits increased
$29 million, and time deposits increased $4 million.

<PAGE>

RESULTS OF OPERATIONS

NET INTEREST INCOME

The  increase in net  interest  income in 2001  resulted  primarily  from higher
volumes of interest-earning assets, offset in part by lower interest rate levels
and a change in the mix of  interest-earning  assets.  Average  interest-earning
assets  increased  $42 million,  or 24% in the third quarter of 2001 compared to
the third quarter of 2000 and  increased $27 million,  or 15% in the nine months
ended September 30, 2001 compared to the same period in 2000.

The net interest margin (yield on interest-earning  assets less the rate paid on
interest-bearing  liabilities)  declined 76 basis  points and 64 basis points in
the three and nine months ended  September 30, 2001,  respectively,  compared to
the same respective  periods in 2000. The net yield on  interest-earning  assets
(net interest  income  divided by average  earning  assets)  decreased 123 basis
points in the third quarter of 2001 and 73 basis points in the first nine months
of 2001 as compared to the same periods in 2000. This was a result of a decrease
in the general  level of interest  rates during the past year and a shift in the
mix of earning  assets and  deposits.  Decreases  in  interest  rates on earning
assets were  higher than the  decreases  in interest  rates on  interest-bearing
liabilities. Loan yields were significantly impacted by a decrease in the "prime
rate" of 350 basis points from the prior year.

The yield on  interest-earning  assets decreased  primarily due to a decrease in
loan yields of 135 basis points and 79 basis points in the three and nine months
ended September 30, 2001, respectively, as compared to the same periods in 2000.
This was caused by the decrease in the prime rate noted  above.  As a percentage
of average earning assets, loans declined from 73% for the third quarter of 2000
to 62% for the third quarter of 2001 and mutual funds  increased from 5% for the
third  quarter  of 2000 to 18% for the  third  quarter  of  2001.  The  yield on
investment  securities  and mutual funds  declined 83 basis points and 291 basis
points,  respectively,  for the three months ended  September  30, 2001,  and 48
basis  points and 196 basis  points,  respectively,  for the nine  months  ended
September 30, 2001, as compared to the prior comparable periods in 2000.

Interest expense  decreased during the three and nine months ended September 30,
2001 as a  result  of  lower  deposit  and  borrowing  interest  rates.  Average
interest-bearing  liabilities  increased  by $24  million  and $9 million in the
three and nine months ended September 30, 2001, respectively, as compared to the
prior comparable  periods in 2000. Average time deposits increased $2 million in
the three months ended  September 30, 2001, and decreased $4 million in the nine
months ended September 30, 2001, as compared to the prior comparable  periods in
2000.  Time  deposits  decreased as a result of a decrease in average money desk
deposits  of $.3  million  and $5  million  in the three and nine  months  ended
September  30,  2001,  respectively,  as compared  to the same  periods in 2000.
Average  interest-bearing  demand deposits increased $30 million and $19 million
in the three and nine months ended September 30, 2001, respectively, as compared
to the prior comparable  periods in 2000. This was partially offset by a decline
in average Federal Home Loan Bank borrowings of $8 million and $4 million in the
three and nine months ended September 30, 2001, respectively, as compared to the
prior comparable periods in 2000. Average other debt declined $.5 million in the
three and nine months ended  September 30, 2001,  compared to the same period in
2000. The rates paid on interest-bearing  liabilities  decreased 18 basis points
for the three months ended September 30, 2001, and increased 11 basis points for
the nine months September 30, 2001, from year ago levels. This was due primarily
to lower  market  rates  and a shift  in the mix of  deposits.  Included  in the
average interest-bearing demand deposits are average money market accounts which
increased  $27  million  and $17  million  in the  three and nine  months  ended
September  30, 2001,  respectively,  compared to the same  periods in 2000.  The
shift  to the  money  market  accounts  in 2001  caused  the  rates  on  average
interest-bearing demand to increase by 11 basis points for the nine months ended
September 30, 2001,  compared to the same period in 2000. The decline in average
money desk deposits  contributed to the decline in rates on time deposits of 132
basis points and 40 basis  points for the three and nine months ended  September
30, 2001,  respectively,  as compared to the same period in 2000.  The Company's
deposits are concentrated in low and noninterest-bearing transaction accounts at
September 30, 2001.


<PAGE>


The following table sets forth the Company's  average balance sheets,  yields on
earning assets, rates paid on interest-bearing liabilities, net interest margins
and net yields on  interest-earning  assets for the three and nine month periods
ended September 30, 2001 and 2000:

<TABLE>
<CAPTION>

                                         Three months ended September 30,
                                      ------------------------------------------
                                              2001                      2000
                                      ------------------------   ------------------
                                      Average          Yields/   Average    Yields/
(dollars in millions)                 Balance           Rates    Balance    Rates
                                      ------------------------------------------
ASSETS
<S>                                    <C>              <C>       <C>        <C>
Loans, net of unearned income,
     discounts and fees ............   $   135.8         8.65%    128.5      10.00%
Investment securities ..............        43.5         7.03      38.4       7.86
Mutual Funds .......................        38.9         3.57       9.3       6.48
                                       -------------------------------------------
Total interest-earning assets ......       218.2         7.42     176.2       9.35

Allowance for loan losses ..........        (2.6)                  (2.5)
Cash and due from banks ............        10.5                   10.7
Other assets .......................         2.8                    3.8
                                       -------------------------------------------
                                        $  228.9               $   188.2
                                       ===========================================


LIABILITIES AND SHAREHOLDERS' EQUITY

Time deposits ......................   $    44.8         4.49% $   43.0       5.81%
Interest-bearing demand deposits ...        78.1         2.24      47.7       2.42
Savings deposits ...................         4.1          .78       4.0       1.29
FHLB borrowings ....................         1.0         5.60       8.8       6.48
Other debt .........................          --           --        .5      16.10
                                       -------------------------------------------
Total interest-bearing liabilities .       128.0         3.01     104.0       4.18

Demand deposits ....................        75.2                   62.2
Other liabilities ..................         1.5                    2.4
Minority interest ..................        10.4                    8.7
Shareholders' equity ...............        13.8                   10.9
                                       -------------------------------------------
                                        $  228.9              $   188.2
                                       ===========================================
Net interest margin ................                    4.41%                 5.17%
Net yield on interest-earning assets                    5.65%                 6.88%

</TABLE>



<PAGE>
<TABLE>
<CAPTION>

                                            Nine months ended September 30,
                                      ------------------------------------------
                                              2001                    2000
                                      --------------------    ------------------
                                      Average        Yields/  Average      Yields/
                                      Balance        Rates    Balance      Rates
                                      ------------------------------------------
ASSETS
<S>                                    <C>              <C>    <C>           <C>
Loans, net of unearned income,
     discounts and fees ............   $   135.5         9.02% $  132.6       9.81%
Investment securities ..............        41.3         7.26      38.9       7.74
Mutual Funds .......................        28.2         4.27       6.7       6.23
Federal funds sold .................          --           --        .1       5.33
                                       -------------------------------------------
Total interest-earning assets ......       205.0         8.01     178.3       9.22

Allowance for loan losses ..........        (2.6)                  (2.4)
Cash and due from banks ............        11.3                   10.2
Other assets .......................         2.8                    4.2
                                       -------------------------------------------
                                        $  216.5              $   190.3
                                       ==========================================


LIABILITIES AND SHAREHOLDERS' EQUITY

Time deposits ......................   $    44.3         5.12% $   48.7       5.52%
Interest-bearing demand deposits ...        65.7         2.42      46.8       2.31
Savings deposits ...................         4.0         1.03       4.6       1.27
FHLB borrowings ....................         4.8         6.02       9.0       6.24
Other debt .........................          --           --        .5      18.79
                                       -------------------------------------------
Total interest-bearing liabilities .       118.8         3.52     109.6       4.09

Demand deposits ....................        72.6                   59.7
Other liabilities ..................         1.6                    2.0
Minority interest ..................        10.1                    8.4
Shareholders' equity ...............        13.4                   10.6
                                        ------------------------------------------
                                         $ 216.5              $   190.3
                                        ==========================================
Net interest margin ................                      4.49%               5.13%
Net yield on interest-earning assets                      5.97%               6.70%

</TABLE>

<PAGE>





The  increases  and  decreases  in interest  income and expense and net interest
income resulting from changes in average assets,  liabilities and interest rates
for the 2001 versus 2000 periods are summarized as follows:
<TABLE>
<CAPTION>

                       Three Months Ended September 30,   Nine Months Ended September 30,
                       ------------------------------------------------------------------
                       Asset/      Interest              Asset/     Interest
                       Liability   Rate                  Liability  Rate
(in thousands)         Changes     Changes   Total       Changes    Changes   Total
                       ------------------------------------------------------------------
<S>                     <C>       <C>        <C>        <C>        <C>        <C>
Changes in:
     Interest income    $   562   $  (631)   $   (69)   $ 1,054    $(1,069)   $   (15)
     Interest expense        77      (200)      (123)       (65)      (161)      (226)
                        -----------------------------------------------------------------
Net interest income     $   485   $  (431)   $    54    $ 1,119    $  (908)   $   211
                        =================================================================
</TABLE>


The Company had $168,000 of loans on  nonaccrual  status on which the accrual of
interest had been  discontinued  at September  30, 2001. If these loans had been
current  throughout  their terms, it is estimated that net interest income would
have increased by  approximately  $5,000 in the third quarter and $10,000 in the
first  nine   months  of  2001.   This  would  have  raised  the  net  yield  on
interest-earning  assets and the net interest margin by approximately  one basis
point during the three and nine months ended September 30, 2001.


NONPERFORMING ASSETS AND PROVISION FOR LOAN LOSSES

The following table summarizes the activity in the allowance for loan losses for
the periods indicated:
<TABLE>
<CAPTION>

                                       Three Months Ended     Nine Months Ended
                                         September 30,          September 30,
(in thousands)                          2001      2000        2001       2000
                                     -------------------------------------------
<S>                                   <C>        <C>        <C>        <C>
Allowance for loan losses
     balance at beginning of period   $ 2,678    $ 2,472    $ 2,554    $ 2,457

Charge-offs .......................       (42)       (46)       (61)       (63)
Recoveries ........................         6         53         49         85
                                       -----------------------------------------
Net recoveries (charge-offs) ......       (36)         7        (12)        22
Transfer to reserves for
     unfunded commitments .........      (104)        --       (104)        --
Provision for loan losses .........       (28)        20         72         20
                                      ------------------------------------------
Allowance for loan losses
     balance at end of period .....   $ 2,510    $ 2,499    $ 2,510    $ 2,499
                                      ==========================================
</TABLE>


All the above  charge-offs and recoveries  were at Sunwest.  The net charge-offs
during the three and nine months ended  September 30, 2001,  were  primarily the
result of one SBA loan that was charged off in the third quarter of 2001.


<PAGE>


Management  believes that the allowance for loan losses at September 30, 2001 of
$2,510,000, or 1.8% of loans, was adequate to absorb known and inherent risks in
the  Company's  loan  portfolio.  The ultimate  collectibility  of a substantial
portion of the Company's loans, as well as its financial condition,  is affected
by  general  economic  conditions  and the real  estate  market  in  California.
California has experienced,  and may continue to experience,  volatile  economic
conditions.  These conditions have adversely affected certain borrowers' ability
to repay  loans.  A  deterioration  in  economic  conditions  could  result in a
deterioration  in  the  quality  of  the  loan  portfolio  and  high  levels  of
nonperforming  assets,  classified  assets and charge-offs,  which would require
increased  provisions for loan losses and would  adversely  affect the financial
condition and results of operations of the Company.

A summary of nonperforming assets follows:
<TABLE>
<CAPTION>

                         September 30,    December 31,  September 30,  December 31,
(dollars in thousands)       2001           2000         2000            1999
                          ---------------------------------------------------------
<S>                       <C>             <C>            <C>             <C>
Nonaccrual loans ......   $  168          $ -            $ -             $  505
Loans 90 days past due
     and still accruing       --           --             --                 --
                           --------------------------------------------------------
Nonperforming loans ...      168           --             --                505
Real estate owned .....       --           --              7                502
                          ---------------------------------------------------------
Nonperforming assets ..   $  168          $ -              7             $1,007
                          =========================================================
Nonperforming loans/
    Total loans .......      .12%         .00%           .00%               .38%
Nonperforming assets/
    Total assets ......      .07%         .00%           .00%               .54%
                          =========================================================
</TABLE>


Nonperforming  assets have  increased from zero at December 31, 2000 to $168,000
at September  30, 2001.  The increase is due primarily to one SBA loan that went
on nonaccrual in the second quarter of 2001.

The Company's real estate owned had zero book value as of September 30, 2001 and
December 31, 2000 as it was fully reserved as of those dates.

Restructured  loans that were performing  substantially in accordance with their
modified terms totaled $2.0 million at September 30, 2001. No restructured loans
were on nonaccrual status at September 30, 2001.

OTHER OPERATING INCOME

Other operating  income  increased by $30,000 and $39,000 for the three and nine
months ended September 30, 2001, respectively, as compared with the same periods
in 2000. See note (5) of the notes to consolidated financial statements.



<PAGE>



OTHER OPERATING EXPENSES

Other operating expenses increased $467,000 and $1,097,000 in the three and nine
months ended  September 30, 2001,  respectively,  from the same periods in 2000.
The increase was primarily  attributed to the increases in salaries and employee
benefits,  occupancy, and professional services.  Salaries and employee benefits
increased  $189,000 and $400,000,  or 20% and 14%, for the three and nine months
of 2001,  respectively,  as  compared  to the same  periods  in 2000.  Number of
employees increased from 61 at September 30, 2000 to 67 at September 30, 2001, a
10% increase. As a result of the pending  reorganization  between West Coast and
Sunwest,  professional  services increased $193,000, or 53%, for the nine months
of 2001, as compared to the same period in 2000.  Occupancy  increased $140,000,
or  63%,  and  $97,000,  or  14%,  for  the  three  and  nine  months  of  2001,
respectively,  as  compared  to the same  periods  in  2000.  The  increase  was
partially  offset by  depreciation  and  amortization  expense  which  decreased
$17,000,  or 14%, and $86,000,  or 22%, for the three and nine month  periods in
2001,  respectively.  See  note  (6)  of the  notes  to  consolidated  financial
statements.

Total other operating  expenses  expressed as a percentage of average assets and
total revenues follows:
<TABLE>
<CAPTION>

                                         Three Months Ended       Nine Months Ended
                                            September 30,           September 30,
(dollars in thousands)                      2001     2000          2001      2000
                                         -------------------------------------------
<S>                                      <C>       <C>          <C>         <C>
Other operating expenses .............   $ 2,664   $ 2,197      $ 7,244     $ 6,147
Other operating expenses
     (annualized)/average assets .....       4.7%      4.7%         4.5%        4.3%
Other operating expenses/net interest
     Income and other operating income      79.8%     67.5%        73.2%       63.7%
                                         ===========================================
</TABLE>

The Company  anticipates  higher  other  operating  expenses in 2001  related to
continued  growth and the development of new products and services.  The Company
is currently  assessing  its  facilities  needs in light of its expected  future
growth  and  possible  expansion  into  other  areas of Orange  County.  Sunwest
recently   entered  into  a  lease  agreement  for  its  new  Tustin   Corporate
headquarters and Tustin branch location.

The  Company  leases  certain   facilities  for  corporate  offices  and  branch
operations  and  equipment  under  non-cancelable  long-term  operating  leases.
Facility  lease  expense for the three months ended  September 30, 2001 and 2000
was  approximately  $ 367,000  and $ 187,000,  respectively,  and  $834,000  and
$535,000 for the nine months ended September 30, 2001 and 2000.  Rents paid were
offset by rental  income of  $102,000  and $56,000  for the three  months  ended
September  30, 2001 and 2000,  respectively,  and  $301,000 and $152,000 for the
nine months ended September 30, 2001 and 2000.

Future minimum facilities lease commitments under all  non-cancelable  leases at
September 30, 2001 are  approximately  $9.9 million.  The minimum lease payments
include  the new lease that the Company  entered  into during 2001 when it moved
its corporate  headquarters,  Tustin branch and back office functions to another
location.  The  Company's  rental  expense is higher at the new location and has
spent  approximately  $175,000 in tenant improvements and $512,000 in furniture,
fixtures and equipment in 2001.

Total  minimum  sublease  rental  income  to be  received  in the  future  under
non-cancelable subleases is $1 million.




<PAGE>

INCOME TAXES

The Company  recognized  income tax expense of $286,000 and $446,000  during the
three months ended September 30, 2001 and 2000, respectively. Income tax expense
of  $1,047,000  and  $1,488,000  were  recognized  during the nine months  ended
September 30, 2001 and 2000,  respectively.  Income tax expense is lower in 2001
due to lower earnings.

LIQUIDITY

The Company

Liquidity,  as it relates to banking,  represents the ability to obtain funds to
meet loan commitments and to satisfy demand for deposit withdrawals.

The principal sources of funds that provide liquidity for Sunwest are maturities
of investment securities and loans, collections on loans, increased deposits and
temporary  borrowings.  The  Company's  liquid  asset  ratio  (the  sum of cash,
investments  available-for-sale,  excluding  pledged amounts,  and Federal funds
sold divided by total  assets) was 27% at September 30, 2001 and 19% at December
31, 2000. The Company believes it has sufficient  liquid  resources,  as well as
available credit facilities, to enable it to meet its operating needs.

THE PARENT COMPANY

West Coast's sources of liquidity are limited. West Coast has relied on sales of
assets and borrowings from officers/directors as sources of liquidity. Dividends
from  subsidiaries  ordinarily  provide a source of  liquidity to a bank holding
company. At September 30, 2001, Sunwest had the ability to pay cash dividends of
$1,735,000 to West Coast.

During the first nine months of 2001,  West Coast did not receive any  dividends
from its subsidiaries. West Coast does not currently expect to receive dividends
from its subsidiaries during 2001.

At September 30, 2001, West Coast had cash and short-term  investments  totaling
$98,000. No significant cash receipts are expected for the remainder of 2001.

West  Coast  anticipates  cash  expenditures  during  2001 to  consist  of other
operating expenses. West Coast anticipates that other operating expenses will be
approximately  $30,000  during the  remainder of 2001.  Funds to meet cash needs
will come from current cash resources supplemented by sales of assets.

CAPITAL RESOURCES AND DIVIDENDS

The Company had a 13.30%,  14.55% and 10.54% Tier 1  risk-based  capital,  total
risk-based  capital and  leverage  ratio at  September  30,  2001  respectively.
Sunwest  had a 13.28%,  14.53%  and  10.52%  Tier 1  risk-based  capital,  total
risk-based capital and leverage ratio at September 30, 2001, respectively. These
are above the  regulatory  minimums  of 4.00%,  8.00% and  4.00%,  respectively.
Sunwest is classified as a "Well Capitalized" depository institution.

The Company had no other material  commitments  for capital  expenditures  as of
September 30, 2001.


<PAGE>




                           PART II. OTHER INFORMATION





Item 1.  Legal Proceedings
-------------------------------
                  NONE


Item 2.  Changes in Securities
-----------------------------------
                  NONE


Item 3.  Defaults Upon Senior Securities
---------------------------------------------
                  NONE


Item 4.  Submission of Matters to a Vote of Security Holders
-----------------------------------------------------------------
                  NONE


Item 5.  Other Information
-------------------------------
                  NONE


Item 6.  Exhibits and Reports on Form 8-K
----------------------------------------------

         (a)      Exhibits

                  NONE



         (b)      Reports on Form 8-K

                  NONE




<PAGE>


                                   SIGNATURES





In accordance with the  requirements of the Exchange Act, the registrant  caused
this  report to be  signed on its  behalf  by the  undersigned,  thereunto  duly
authorized.




WEST COAST BANCORP




/s/ Eric D. Hovde                                   November 2, 2001
-----------------------------------------           ---------------------
Eric D. Hovde                                       Date
Chief Executive Officer





/s/ Frank E. Smith                                  November 2, 2001
-----------------------------------------           ----------------------
Frank E. Smith                                      Date
Chief Financial Officer