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 March 31, 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.)

                               535 E. First Street
                          Tustin, California 92780-3312
                    (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 April 30, 2001:


                                    9,965,283


             Transitional Small Business Disclosure Format Yes___ No X



                   This document contains a total of 17 pages.



<PAGE>


                       WEST COAST BANCORP AND SUBSIDIARIES
                           CONSOLIDATED BALANCE SHEETS

<TABLE>
<CAPTION>


                                                            March 31,   December 31,
                                                              2001         2000
(in thousands, except share data)                         (Unaudited)
                                                           ---------    -----------
ASSETS

<S>                                                         <C>          <C>
Cash and due from banks                                     $   9,758    $  11,157
Mutual funds                                                   22,019       13,311
Investment securities available-for-sale
     at fair value                                             39,929       38,531

Loans                                                         136,176      132,757
Less allowance for credit losses                               (2,609)      (2,554)
                                                            ---------    ----------
     Net loans                                                133,567      130,203
                                                            ---------    ---------

Premises and equipment, net                                       928          983
Deferred taxes, net                                               214          500
Other assets                                                    1,643        1,624
                                                            ---------    ---------
                                                            $ 208,058    $ 196,309
                                                            =========    =========
LIABILITIES
Deposits:
     Demand, non interest-bearing                           $  67,471    $  69,165
     Savings, money market and interest-bearing demand         64,378       56,025
     Time certificates under $100,000                          13,717       13,327
     Time certificates of $100,000 or more                     30,754       27,133
                                                              -------    ---------
     Total deposits                                           176,320      165,650

Federal Home Loan Bank borrowings                               7,000        7,000
Other liabilities                                               1,583        1,606
                                                              -------    ---------
     Total liabilities                                        184,903      174,256

Commitments and contingencies

Minority interest in subsidiary                                10,020        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                                           (17,986)     (18,350)
Accumulated other comprehensive loss, net of tax                  (48)        (282)
                                                              --------   ---------
     Total shareholders' equity                                13,135       12,504
                                                              --------   ---------
                                                            $ 208,058    $ 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
                                                                March 31,
(in thousands, except share data)                           2001       2000
                                                            -----     ------
INTEREST INCOME:
<S>                                                          <C>      <C>
Loans, including fees                                        $3,208   $3,280
Federal funds sold                                                -        2
Mutual Funds                                                    245       53
Investment securities                                           752      748
                                                              -----   ------
     Total interest income                                    4,205    4,083

INTEREST EXPENSE:
Interest on deposits                                            998      960
Other interest expense                                          112      159
                                                              -----   ------
     Total interest expense                                   1,110    1,119
                                                              -----   ------
     Net interest income                                      3,095    2,964

Provision for credit losses                                      45        -
                                                              -----   ------
     Net interest income after provision for credit losses    3,050    2,964

Other operating income                                          230      230
Other operating expenses                                      2,192    1,906
Minority interest in net income of subsidiary                   291      336
                                                              -----   ------
     Income before income taxes                                 797      952

Income tax expense                                              433      543
                                                             ------   ------
     Net income                                              $  364   $  409
                                                             ======   ======

Basic and diluted earnings per share                         $  .04   $  .04
                                                             ======   ======

</TABLE>




          (See accompanying notes to consolidated financial statements)

<PAGE>


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

<TABLE>
<CAPTION>


                                               For the Three Months Ended
                                                       March 31,
(in thousands)                                  2001             2000
                                               -------------------------
<S>                                            <C>               <C>
Net income                                     $ 364             $ 409
Other comprehensive income, net of tax:
Unrealized gain (loss) on available-for-sale
         investments arising during period       234              (105)
                                               -----             ------
Other comprehensive income (loss)                234              (105)
                                               -----             ------
Comprehensive income                           $ 598             $ 304
                                               =====             ======
</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        Loss       Equity
                                 -------------------------------------------------------

<S>                               <C>     <C>        <C>          <C>           <C>
Balance at December 31, 2000      9,935   $ 31,136   $(18,350)    $   (282)     $ 12,504
Net income                            -          -        364            -           364
Stock options exercised              30         33          -            -            33
Change in unrealized gain
  on available-for-sale
  investments, net of tax             -          -          -          234           234
                                 -------------------------------------------------------
Balance at March 31, 2001         9,965   $ 31,169   $(17,986)    $    (48)     $ 13,135
                                 =======================================================

</TABLE>



          (See accompanying notes to consolidated financial statements)


<PAGE>


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

<TABLE>
<CAPTION>


                                                                                Three Months Ended
                                                                                    March 31,
(in thousands)                                                                 2001            2000
                                                                            --------------------------
<S>                                                                              <C>         <C>
Cash flows from operating activities:
   Net income                                                                    $    364    $    409
   Adjustments to reconcile net income to net
     cash provided by operating activities:
     Depreciation and amortization                                                     96         131
     Amortization and accretion from investment securities                              4          16
     Minority interest in net income of subsidiary                                    291         337
     Write-down of real estate owned                                                    -           7
     Provision for credit losses                                                       45           -
     Deferred tax benefit                                                               -        (220)
   (Increase) decrease in other assets                                                (19)        598
   Decrease in other liabilities                                                      (23)       (115)
                                                                                  -------     --------
   Net cash provided by operating activities                                          758       1,163

Cash flows from investing activities:
   Purchase of interest-bearing deposits                                                -         (99)
   Proceeds from maturities and paydowns of investment
     securities available-for-sale                                                  1,706         657
   Purchase of investment securities available-for-sale                            (2,408)       (421)
   Net increase in loans                                                           (3,409)     (4,805)
   Purchase of premises and equipment                                                 (41)        (37)
                                                                                  -------     --------
   Net cash used in investing activities                                           (4,152)     (4,705)

Cash flows from financing activities:
   Net increase in deposits                                                        10,670       5,307
   Cash payments on other borrowed funds                                                -         (13)
   Repayment of capital lease obligation                                                -         (36)
   Advances from Federal Home Loan Bank                                             6,000       6,104
   Repayment of advances from Federal Home Loan Bank                               (6,000)     (5,104)
   Stock options exercised                                                             33           -
                                                                                  -------    --------
   Net cash provided by financing activities                                       10,703       6,258
                                                                                  -------    --------
Increase in cash and cash equivalents                                               7,309       2,716

Cash and cash equivalents at beginning of year                                     24,468      11,824
                                                                                 --------    --------
Cash and cash equivalents at end of period                                       $ 31,777    $ 14,540
                                                                                 ========    ========

Supplemental disclosures of cash flow information:
 Cash paid during the period for:
     Interest                                                                    $  1,166    $  1,015
     Income taxes                                                                     265          55

</TABLE>




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

                       WEST COAST BANCORP AND SUBSIDIARIES
                   NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
                                 MARCH 31, 2001
                                  (Unaudited)


(1)  BASIS OF PRESENTATION

     The  unaudited  financials  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 month  period  ended March 31, 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.

     In March 2001,  West Coast  announced  that it is considering a merger with
     its  subsidiary,  Sunwest Bank. As currently  proposed,  West Coast Bancorp
     would be merged into Sunwest Bank. West Coast's  shareholders would receive
     shares  of  Sunwest  in  exchange  for  their  West  Coast  shares.  It  is
     anticipated  that a merger would reduce expenses and simplify the ownership
     structure  of the  combined  companies.  Any merger would be subject to the
     approval  of the board of  directors  and  shareholders  of West  Coast and
     Sunwest as well as various regulatory agencies.



(2)  RECENT ACCOUNTING PRONOUNCEMENTS

     In September 2000, the FASB issued 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.




<PAGE>

                       WEST COAST BANCORP AND SUBSIDIARIES
                   NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
                                 MARCH 31, 2001
                                   (Unaudited)


(3)      EARNINGS PER SHARE

         The following is a reconciliation of basic earnings per share (EPS) to
         diluted EPS for the three month periods ended March 31, 2001 and 2000.

<TABLE>
<CAPTION>

(dollars and shares in thousands)           Three months ended March 31, 2001
                                            Net                   Per Share
                                            Income    Shares      Amount
                                            ---------------------------------
<S>                                        <C>        <C>         <C>
Basic EPS:
Income available to common shareholders    $ 364      9,958       $0.04
Effect of Dilutive Securities:
         Stock options                         -          3           -
                                           ----------------------------------
Diluted EPS:
Income available to common shareholders
         plus assumed conversions          $ 364      9,961       $0.04
                                           ==================================

</TABLE>

<TABLE>
<CAPTION>

                                            Three months ended March 31, 2000
                                            Net                  Per Share
                                            Income    Shares     Amount
                                            ---------------------------------
<S>                                         <C>       <C>        <C>
Basic EPS:
Income available to common shareholders     $ 409     9,329      $0.04
Effect of Dilutive Securities:
         Stock options                          -         8          -
                                             --------------------------------
Diluted EPS:
Income available to common shareholders
         plus assumed conversions           $ 409     9,337      $0.04
                                            =================================
</TABLE>

 (4)     LOANS

         A summary of loans follows:

<TABLE>
<CAPTION>

                                                   March 31,       December 31,
(in thousands)                                       2001             2000
                                                  ------------------------------
<S>                                               <C>             <C>
Commercial loans not secured by real estate       $  38,609       $  38,081
Real estate mortgage loans                           89,421          88,244
Real estate construction                              5,492           4,454
Personal loans not secured by real estate             2,894           2,281
Unearned income, discounts and fees                    (240)           (303)
                                                  ------------------------------
                                                  $ 136,176       $ 132,757
                                                  ==============================
</TABLE>






<PAGE>



                       WEST COAST BANCORP AND SUBSIDIARIES
                   NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
                                 MARCH 31, 2001
                                   (Unaudited)


(5)      OTHER OPERATING INCOME

         A summary of other operating income follows:

<TABLE>
<CAPTION>

                                                   Three Months Ended
                                                        March 31,
(in thousands)                                     2001          2000
                                                   ------------------
<S>                                                <C>          <C>
Depositor charges                                  $189         $196
Service charges, commissions & fees                  32           29
Other income                                          9            5
                                                   ----         ----
                                                   $230         $230
                                                   ====         ====
</TABLE>


(6)      OTHER OPERATING EXPENSES

         A summary of other operating expenses is as follows:

<TABLE>
<CAPTION>


                                                    Three Months Ended
                                                         March 31,
(in thousands)                                       2001         2000
                                                   -------------------
<S>                                                  <C>         <C>
Salaries and employee benefits                       $1,082      $  935
Customer service                                        235         189
Occupancy                                               208         206
Data processing                                         136         144
Professional services                                   128          78
Depreciation and amortization                            96         131
Advertising and promotion                                59          35
Stationery and supplies                                  45          20
Telephone                                                24          23
Director fees                                            21          13
Postage                                                  16          18
Regulatory fees and assessments                          13          14
Net cost of operation of real estate owned                -           9
Miscellaneous                                           129          91
                                                     ------      ------
                                                     $2,192      $1,906
                                                     ======      ======
</TABLE>




<PAGE>



                       WEST COAST BANCORP AND SUBSIDIARIES
                MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL
                       CONDITION AND RESULTS OF OPERATIONS
                                 MARCH 31, 2001
                                  (Unaudited)


     The  following  presents  management's   discussion  and  analysis  of  the
consolidated  financial  condition and operating  results of the Company for the
three month periods ended March 31, 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
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 to not
merge into Sunwest include failure to obtain regulatory or shareholders approval
or a decision by the Board of  Directors of West Coast or Sunwest to abandon the
merger.  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 $364,000,  or $.04 per share, during the
three months ended March 31,  2001,  as compared  with net income of $409,000 or
$.04 per share,  during the same period in 2000.  The  decrease in earnings  was
primarily  due to increased  operating  expenses and  recording a provision  for
credit  losses  during the three months ended March 31, 2001,  as compared to no
provision in the same period last year.

The Company had total assets, loans and deposits as follows:

<TABLE>
<CAPTION>


               March 31,  December 31,   March 31,   December 31,
                 2001        2000         2000        1999
(in thousands)
-----------------------------------------------------------------
<S>            <C>        <C>            <C>          <C>
Total assets   $208,058   $196,309       $193,526     $186,823
Loans           136,176    132,757        137,825      133,008
Deposits        176,320    165,650        163,954      158,646
</TABLE>


     The $12 million  increase in total  assets from  December 31, 2000 to March
31, 2001,  occurred  primarily  due to a $9 million  increase in mutual funds at
Sunwest and a $3 million  increase in loans.  The increase in assets during this
period was funded by an increase  in deposits of $11 million and  earnings of $1
million.  Noninterest-bearing  deposits  decreased $1 million since December 31,
2000. Savings,  money market and  interest-bearing  demand deposits increased $8
million,  and time deposits increased $4 million from December 31, 2000 to March
31, 2001.

<PAGE>



                       WEST COAST BANCORP AND SUBSIDIARIES
                MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL
                       CONDITION AND RESULTS OF OPERATIONS
                                 MARCH 31, 2001
                                   (Unaudited)


RESULTS OF OPERATIONS

Net Interest Income

     The  increase  in net  interest  income  during  the first  quarter of 2001
resulted  primarily from a higher volume of average interest earning assets. The
improved  mix of interest  earning  assets and deposits  favorably  impacted net
interest income. Average interest earning assets increased $16 million, or 9% in
2001 compared to the first three months of 2000.

     The net interest  margin  (yield on interest  earning  assets less the rate
paid on interest  bearing  liabilities)  decreased 54 basis points,  and the net
yield on interest earning assets (net interest income divided by average earning
assets)  decreased 28 basis points in the first three months of 2001 compared to
the same period last year.  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.
Loan yields were significantly impacted by a decrease in the "prime rate" of 100
basis points from the prior year.

     The yield on  interest  earning  assets  decreased  during the first  three
months of 2001 compared to the same period last year primarily due to a 35 basis
point decrease in loan yields. This was caused by the decrease in the prime rate
noted above and increased  competition  on loan yields in the  Company's  market
area. As a percentage of average earning assets,  loans declined from 76% to 70%
and mutual funds increased from 2% to 9%. The yield on investment securities and
mutual funds  declined 3 basis  points and 12 basis  points,  respectively.  The
unrealized loss on available-for-sale investments has decreased as a result of a
declining rate environment.

     Interest expense  decreased during the first quarter of 2001 primarily as a
result of a lower  volume  of  average  interest  bearing  liabilities.  Average
interest bearing liabilities decreased by $2 million compared to the same period
in 2000. Average time deposits declined $9 million, savings deposits declined $2
million,  Federal Home Loan Bank  borrowings  declined $1 million and other debt
declined $1 million.  This was partially offset by an increase of $11 million in
average  interest  bearing demand  deposits.  The rates paid on interest bearing
liabilities  increased  3 basis  points  from  year  ago  levels.  This  was due
primarily to increases in rates paid on time deposits,  interest  bearing demand
deposits  and Federal  Home Loan Bank  borrowings.  The  Company's  deposits are
concentrated in low and noninterest bearing transaction accounts that are not as
sensitive to interest rate changes as the Company's interest earning assets are.
However,  asset  growth  over the past year has  relied  to a greater  extent on
interest bearing demand deposits and borrowed funds, thereby increasing the rate
paid on interest bearing liabilities.






<PAGE>



                       WEST COAST BANCORP AND SUBSIDIARIES
                MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL
                       CONDITION AND RESULTS OF OPERATIONS
                                 MARCH 31, 2001
                                   (Unaudited)


     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 month  periods
ended March 31, 2001 and 2000 (dollars in millions):

<TABLE>
<CAPTION>

                                                 2001                          2000
                                        Average        Yields/         Average        Yields/
                                        Balance        Rates           Balance        Rates
                                        ----------------------------------------------------
ASSETS

<S>                                    <C>               <C>           <C>             <C>
Loans, net of unearned income,
     discounts and fees                $   136.0         9.43%         $   134.2       9.78%
Investment securities                       39.6         7.60               39.2       7.63
Federal funds sold                             -            -                 .2       4.17
Mutual funds                                17.4         5.64                3.7       5.76
                                        ---------------------------------------------------
Total interest earning assets              193.0         8.71              177.3       9.22

Allowance for loan losses                   (2.6)                           (2.5)
Cash and due from banks                     11.9                             9.2
Other assets                                 3.0                             4.8
                                        ---------------------------------------------------
                                        $  205.3                       $   188.8
                                        ===================================================

LIABILITIES AND SHAREHOLDERS' EQUITY

Time deposits                          $    43.2         5.75%          $   52.3      5.31%
Interest-bearing demand deposits            56.3         2.59               45.4      2.20
Savings deposits                             3.9         1.23                5.3      1.29
FHLB borrowings                              7.0         6.40                8.4      6.10
Other debt                                    -             -                 .7     16.41
                                       ----------------------------------------------------
Total interest-bearing liabilities         110.4         4.02              112.1      3.99

Demand deposits                             70.6                            56.7
Other liabilities                            1.7                             1.6
Minority interest                            9.7                             8.1
Shareholders' equity                        12.9                            10.3
                                         --------------------------------------------------
                                         $ 205.3                       $   188.8
                                         ==================================================

Net interest margin                                      4.69%                       5.23%
Net yield on interest earning assets                     6.41                        6.69
</TABLE>




<PAGE>

                       WEST COAST BANCORP AND SUBSIDIARIES
                MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL
                       CONDITION AND RESULTS OF OPERATIONS
                                 MARCH 31, 2001
                                   (Unaudited)


     The increases  (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 (in thousands):
<TABLE>
<CAPTION>

                            Three Months Ended March 31,
                      ----------------------------------------
                         Asset/           Interest
                        Liability         Rate
                         Changes          Changes       Total
                        ---------------------------------------
<S>                    <C>                <C>            <C>
Changes in:
     Interest income   $ 246              $(124)         $ 122
     Interest expense   (103)                94             (9)
                      ----------------------------------------
Net interest income    $ 349              $(218)         $ 131
                       ========================================
</TABLE>


     The  Company  did not have loans on  nonaccrual  status at March 31,  2001.
Loans on which the accrual of interest had been  discontinued  at March 31, 2000
amounted to $505,000. If these loans had been current throughout their terms, it
is estimated  that net interest  income  would have  increased by  approximately
$14,000 in the first  quarter of 2000.  This would have  raised the net yield on
interest  earning assets and the net interest  margin by  approximately  3 basis
points during the first quarter of 2000.

NONPERFORMING ASSETS AND PROVISION FOR CREDIT LOSSES

     The  following  table  summarizes  the activity in the allowance for credit
losses during the periods indicated (in thousands):

<TABLE>
<CAPTION>

                                     Three Months Ended
                                         March 31,
                                       2001    2000
                                    --------------------
<S>                                   <C>      <C>
Allowance for credit losses
     balance at beginning of period   $2,554   $2,457

Charge-offs                                -        -
Recoveries                                10       11
                                      ---------------
Net recoveries (charge-offs)              10       11
Provision for loan losses                 45        -
                                      ---------------
Allowance for credit losses
     balance at end of period         $2,609   $2,468
                                      ===============
</TABLE>

     All the above recoveries were at Sunwest.  The recoveries  during the three
month period  ended March 31, 2001 and the same period last year were  primarily
the result of improved asset quality.


<PAGE>



                       WEST COAST BANCORP AND SUBSIDIARIES
                MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL
                       CONDITION AND RESULTS OF OPERATIONS
                                 MARCH 31, 2001
                                   (Unaudited)


     Management believes that the allowance for loan losses at March 31, 2001 of
$2,609,000 or 1.92% 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 (dollars in thousands):


<TABLE>
<CAPTION>

                           March 31,    December 31,      March 31,      December 31,
                            2001            2000            2000            1999
                         ------------------------------------------------------------
<S>                       <C>            <C>              <C>             <C>
Nonaccrual loans          $ -            $ -              $  505          $  505
Loans 90 days past due
     and still accruing     -              -                  13               -
                          -----------------------------------------------------------
Nonperforming loans         -              -                 518             505
Real estate owned           -              -                 495             502
                          -----------------------------------------------------------
Nonperforming assets      $ -            $ -               1,013          $1,007
                          ===========================================================
Nonperforming loans/
    Total loans           .00%           .00%                .38%           .38%
Nonperforming assets/
    Total assets          .00%           .00%                .52%           .54%
                          ===========================================================
</TABLE>


     Nonperforming assets declined  approximately $1 million from March 31, 2000
and December 31, 1999. The decrease is due primarily to one nonaccrual loan that
was repaid in September 2000.

     The  Company's  real estate  owned had zero book value as of March 31, 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 March 31, 2001.  No  restructured
loans were on nonaccrual status at March 31, 2001.


OTHER OPERATING INCOME

     Other  operating  income was  $230,000 for the three months ended March 31,
2001 and 2000. See note (5) of the notes to consolidated financial statements.



<PAGE>

                       WEST COAST BANCORP AND SUBSIDIARIES
                MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL
                       CONDITION AND RESULTS OF OPERATIONS
                                 MARCH 31, 2001
                                   (Unaudited)



OTHER OPERATING EXPENSES

     Other operating expenses increased $286,000 in the three months ended March
31, 2001 from the same period in 2000.  Salaries and employee benefits increased
$147,000,  or 16%, as a result of an increase in staff. The staff of Sunwest has
increased to 65 employees, or 18%, which resulted in an increase in salaries and
employee benefits. Professional services expense increased $50,000 due primarily
to expenses  incurred in connection  with the proposed merger between West Coast
and  Sunwest  Bank.  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 (dollars in thousands):

<TABLE>
<CAPTION>

                                                  Three Months Ended
                                                      March 31,
                                                 2001            2000
                                              --------------------------
<S>                                          <C>            <C>
Other operating expenses                     $  2,192       $  1,906
Other operating expenses
  (annualized)/average assets                     4.3%           4.0%
Other operating expenses/net interest income
   and other operating income                    65.9%          59.7%
                                            ==========================
</TABLE>

     The Company is anticipating 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  new  lease  agreement  for  its  Tustin   Corporate
headquarters' new location. Rental expense will be higher at the new location.


INCOME TAXES

     The Company recognized income tax expense of $433,000 and $543,000,  during
the three month periods ended March 31, 2001 and 2000, respectively.  Income tax
expense was higher in 2000 due to higher earnings and a higher tax rate. Sunwest
recorded  income tax expense at the rate of 39.25% in the first  quarter of 2001
and 41.25% in the same period last year.


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 22% at March  31,  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.

<PAGE>



                       WEST COAST BANCORP AND SUBSIDIARIES
                MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL
                       CONDITION AND RESULTS OF OPERATIONS
                                 MARCH 31, 2001
                                   (Unaudited)


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  March  31,  2001,  Sunwest  had the  ability  to pay cash
dividends of $1,197,000 to West Coast.

     During the first  quarter 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 March 31, 2001, West Coast had cash and short term investments  totaling
$157,000. 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 $66,000 during the remainder of 2001, exclusive of proposed merger
costs.  Funds  to  meet  cash  needs  will  come  from  current  cash  resources
supplemented by sales of assets.


CAPITAL RESOURCES AND DIVIDENDS

     The Company had a 13.74 %, 15.00 % and 11.31%  Tier 1  risk-based  capital,
total  risk-based  capital and leverage  ratio at March 31, 2001,  respectively.
Sunwest  had a 13.68%,  14.93%  and  11.25%  Tier 1  risk-based  capital,  total
risk-based capital and leverage ratio at March 31, 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  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 March 31, 2001 and 2000 was
approximately  $233,000 and  $175,000,  respectively.  Rents paid were offset by
rental income of $98,000 and $48,000 in 2001 and 2000, respectively.

     Future minimum lease commitments under all  non-cancelable  leases at March
31, 2001 are approximately $10.5 million. The minimum lease payments include the
new lease that the Company  entered into during 2001 in order to move  corporate
headquarters to another location. The Company anticipates spending approximately
$391,000 in tenant improvements.

     Total  minimum  sublease  rental  income to be received in the future under
non-cancelable subleases is $1.2 million.

     The Company had no other material  commitments for capital  expenditures as
of March 31, 2001.


<PAGE>



                       WEST COAST BANCORP AND SUBSIDIARIES
                                 MARCH 31, 2001

                                     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                                           May 14, 2001
-----------------------------------------                  ---------------------
Eric D. Hovde                                              Date
Chief Executive Officer





/s/Frank E. Smith                                           May 14, 2001
-----------------------------------------                   --------------------
Frank E. Smith                                              Date
Chief Financial Officer