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 June 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 Identification No.)
of incorporation or organization)

                        17542 East 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 June 30, 2001:

                                    9,965,283

           Transitional Small Business Disclosure Format. Yes ___ No X



                   This document contains a total of 20 pages.



<PAGE>


                          PART I. FINANCIAL INFORMATION

ITEM 1. Financial Statements


                       WEST COAST BANCORP AND SUBSIDIARIES
                           CONSOLIDATED BALANCE SHEETS

<TABLE>
<CAPTION>

                                                             June 30,    December 31,
                                                                2001        2000
(in thousands, except share data) ........................  (Unaudited)
                                                              ---------  -----------
ASSETS
<S>                                                          <C>          <C>
Cash and due from banks ..................................   $  13,158    $  11,157
Mutual funds .............................................      25,552       13,311
Investment securities available-for-sale
     at fair value .......................................      42,859       38,531

Loans ....................................................     135,297      132,757
Less: allowance for loan losses ..........................      (2,678)      (2,554)
                                                             ---------     ---------
Net loans ................................................     132,619      130,203

Premises and equipment, net ..............................       1,066          983
Deferred taxes, net ......................................         153          500
Other assets .............................................       1,730        1,624
                                                             ---------    ---------
                                                             $ 217,137    $ 196,309
                                                             =========    =========
LIABILITIES
Deposits:
     Demand, non interest-bearing ........................   $  73,124    $  69,165
     Savings, money market & interest-bearing demand .....      71,457       56,025
     Time certificates under $100,000 ....................      13,812       13,327
     Time certificates of $100,000 or more ...............      32,669       27,133
                                                             ---------    ---------
     Total deposits ......................................     191,062      165,650

Federal Home Loan Bank borrowings ........................       1,000        7,000
Other liabilities ........................................       1,246        1,606
                                                             ---------    ---------
     Total liabilities ...................................     193,308      174,256

Commitments and contingencies

Minority interest in subsidiary ..........................      10,334        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 ......................................     (17,746)     (18,350)
Accumulated other comprehensive income (loss), net of tax           72         (282)
                                                             ---------    ---------
     Total shareholders' equity ..........................      13,495       12,504
                                                             ---------    ---------
                                                             $ 217,137    $ 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   Six Months Ended
(in thousands,                             June 30,           June 30,
 except share data)                     2001     2000     2001     2000
                                     -------------------  ----------------
INTEREST INCOME:
<S>                                    <C>      <C>      <C>      <C>
Loans, including fees ..............   $3,025   $3,265   $6,233   $6,545
Federal funds sold .................        0        4        0        6
Mutual funds .......................      312      109      557      162
Investment securities ..............      728      756    1,481    1,504
                                       ------   ------   ------   ------
     Total interest income .........    4,065    4,134    8,271    8,217

INTEREST EXPENSE:
Interest on deposits ...............      976      989    1,974    1,949
Other interest expense .............       91      172      203      331
                                       ------   ------   ------  -------
     Total interest expense ........    1,067    1,161    2,177    2,280
                                       ------   ------   ------  -------
     Net interest income ...........    2,998    2,973    6,094    5,937

Provision for credit losses ........       55       --      100       --
                                       ------   ------   ------  -------
     Net interest income after
         provision for credit losses    2,943    2,973    5,994    5,937

Other operating income .............      233      223      463      453
Other operating expenses ...........    2,388    2,043    4,580    3,949
Minority interest in net income
     of subsidiary .................      221      302      512      638
                                       ------   ------   ------   ------
     Income before income taxes ....      567      851    1,365    1,803

Income tax expense .................      328      498      761    1,041
                                       ------   ------   ------   ------
     Net income ....................   $  239   $  353   $  604   $  762
                                       ======   ======   ======   ======

Basic and diluted earnings per share   $  .02   $  .04   $  .06   $  .08
                                       ======   ======   ======   ======


</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   Six Months Ended
                                             June 30,          June 30,
(in thousands)                             2001   2000      2001    2000
                                         ------------------------------------
<S>                                       <C>     <C>      <C>     <C>
Net income ............................   $ 239   $ 353    $ 604   $ 762

Other comprehensive income, net of tax:
     Unrealized gain (loss) on
     available-for-sale investments
     arising during period ............     120    (101)     354    (206)
                                          -----   ------   -----   -----

Other comprehensive income (loss) .....     120    (101)     354    (206)
                                          -----   ------   -----   -----

Comprehensive income ..................   $ 359   $ 252    $ 958   $ 556
                                          =====   =====    =====   =====

</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    Equity
                                 -------------------------------------------------------
<S>                               <C>     <C>        <C>            <C>         <C>
Balance at December 31, 2000      9,935   $ 31,136   $(18,350)      $   (282)   $ 12,504
Net income .................         --         --        604             --         604
Stock option exercised .....         30         33         --             --          33
Change in net unrealized
  gain on available-for-sale
  investments ..............         --         --         --            354         354
                                 -------------------------------------------------------
Balance at June 30, 2001 ...      9,965   $ 31,169   $(17,746)       $    72    $ 13,495
                                 =======================================================

</TABLE>



          (See accompanying notes to consolidated financial statements)


<PAGE>


                       WEST COAST BANCORP AND SUBSIDIARIES
                      CONSOLIDATED STATEMENTS OF CASH FLOWS
                                   (Unaudited)
<TABLE>
<CAPTION>
                                                                                  Six Months Ended
                                                                                      June 30,
(in thousands)                                                                   2001           2000
                                                                               --------------------------
Cash flows from operating activities:
<S>                                                                              <C>         <C>
   Net income ................................................................   $    604    $    762
   Adjustments to reconcile net income to net
     Cash provided by operating activities:
     Depreciation and amortization of premises and equipment .................        192         262
     Amortization and accretion from investment securities ...................         31          27
     Minority interest in net income of subsidiary ...........................        512         638
   Provision for credit losses ...............................................        100          --
   Write-down of real estate owned ...........................................         --          29
   (Increase) decrease in other assets .......................................       (106)        532
   (Decrease) increase in other liabilities ..................................       (446)        305
                                                                                  -------    --------
   Net cash provided by operating activities .................................        887       2,555

Cash flows from investing activities:
   Proceeds from maturities and paydowns of investment securities
     available-for-sale ......................................................      3,054       1,202
   Purchase of investment securities available-for-sale ......................     (6,353)     (1,628)
   Net (increase) decrease in loans ..........................................     (2,516)        292
   Proceeds from sales of real estate owned ..................................         --         554
   Purchase of premises and equipment ........................................       (275)        (96)
                                                                                   ------    --------
   Net cash (used in) provided by investing activities .......................     (6,090)        324

Cash flows from financing activities:
   Net increase in deposits ..................................................     25,412       1,518
   Principal payments on other borrowed funds ................................         --         (24)
   Repayment of capital lease obligation .....................................         --         (77)
   Advances from Federal Home Loan Bank ......................................      8,000       7,104
   Repayment of advances from Federal Home Loan Bank .........................    (14,000)     (5,104)
   Stock options exercised ...................................................         33          --
                                                                                 --------    --------
   Net cash provided by financing activities .................................     19,445       3,417
                                                                                 --------    --------
Increase in cash and cash equivalents ........................................     14,242       6,296

Cash and cash equivalents at beginning of year ...............................     24,468      11,824
                                                                                 --------    --------
Cash and cash equivalents at end of year .....................................   $ 38,710    $ 18,120
                                                                                 ========    ========

Supplemental disclosures of cash flow information:
 Cash paid during the period for:
     Interest ................................................................   $  2,267    $  2,221
     Income taxes ............................................................        915         250

</TABLE>
          (See accompanying notes to consolidated financial statements)


<PAGE>
                       WEST COAST BANCORP AND SUBSIDIARIES
                   NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
                                  JUNE 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  six  month  period  ended  June  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 merger is  subject to receipt of  necessary
          regulatory and shareholder approvals.


(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.

          On July 6, 2001, the Securities and Exchange Commission released Staff
          Accounting  Bulletin  (SAB) No.  102,  "Selected  Loan Loss  Allowance
          Methodology  and  Documentation  Issues," which requires  companies to
          have adequate  documentation  on the  development and application of a
          systematic  methodology  in  determining  allowance  for loan  losses.
          Management  believes  that it has complied with the  requirements  and
          that the  adoption  will  have no  material  impact  to the  financial
          statements.



<PAGE>


                       WEST COAST BANCORP AND SUBSIDIARIES
                   NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
                                  JUNE 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 six month periods ended June 30, 2001 and
         2000.

<TABLE>
<CAPTION>

(dollars and shares in thousands)

                          Three Months Ended                  Three Months Ended
                             June 30, 2001                      June 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   $ 239    9,965    $ .02              $ 353   9,329     $ .04
Effect of dilutive
 securities:
  Stock options ....      --        4       --                 --       4        --
                       ----------------------------------------------------------------
Diluted EPS:
Income available to
 common shareholders
 plus assumed
 conversions .......   $ 239    9,969    $ .02              $ 353   9,333     $ .04
                       ================================================================

</TABLE>

<TABLE>
<CAPTION>

                         Six Months Ended                    Six Months Ended
                        June 30, 2001                        June 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   $ 604   9,961       $ .06          $ 762   9,329      $ .08
Effect of dilutive
 securities:
  Stock options ....      --       4          --             --       6         --
                        -----------------------------------------------------------------
Diluted EPS:
Income available to
 common shareholders
 plus assumed
 conversions .......   $ 604   9,965       $ .06           $ 762  9,335      $ .08
                       ==================================================================

</TABLE>
<PAGE>


                       WEST COAST BANCORP AND SUBSIDIARIES
                   NOTES TO CONSOLODATED FINANCIAL STATEMENTS
                                  JUNE 30, 2001
                                   (Unaudited)

(4) LOANS

         A summary of loans follows:
<TABLE>
<CAPTION>

                                               June 30,    December 31,
         (in thousands)                         2001          2000
                                              ---------------------------
<S>                                           <C>          <C>
Commercial loans not secured by real estate   $  38,685    $  38,081
Real estate mortgage loans ................      90,760       88,244
Real estate construction ..................       3,147        4,454
Personal loans not secured by real estate .       2,954        2,281
Unearned income, discounts and fees .......        (249)        (303)
                                              --------------------------
                                              $ 135,297    $ 132,757
                                              ==========================
</TABLE>

(5)      OTHER OPERATING INCOME

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

                                    Three Months Ended     Six Months Ended
                                        June 30,              June 30,
(in thousands) ....................   2001   2000           2001   2000
                                      -------------------------------------
<S>                                   <C>    <C>            <C>    <C>
Depositor charges .................   $188   $185           $377   $381
Service charges, commissions & fees     36     31             68     60
Other income ......................      9      7             18     12
                                      --------------------------------------
                                      $233   $223           $463   $453
                                      ======================================
</TABLE>
<PAGE>

(6)      OTHER OPERATING EXPENSES

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

                                  Three Months Ended     Six Months Ended
                                        June 30,             June 30,
(in thousands) ................      2001      2000       2001      2000
                                  ---------------------------------------
<S>                               <C>       <C>        <C>       <C>
Salaries and employee benefits.   $ 1,081   $ 1,017    $ 2,163   $ 1,952
Professional services .........       248        94        376       172
Customer service ..............       239       224        473       413
Occupancy .....................       236       281        444       487
Data processing ...............       141       139        277       283
Depreciation and amortization .        96       130        192       261
Advertising and promotion .....        71        47        130        82
Stationery and supplies .......        40        29         84        49
Directors fees ................        36        14         57        27
Employee development ..........        30        28         57        39
Telephone .....................        27        21         51        44
Postage .......................        19        19         35        37
Dues and subscription .........        17        15         33        28
Courier and delivery ..........        15        20         30        34
Bank charges ..................        14        16         29        29
Regulatory fees and assessments        13        13         26        27
Net cost of operation of REO ..         0      (112)         0      (103)
Miscellaneous .................        65        48        123        88
                                  --------------------------------------
                                  $ 2,388   $ 2,043    $ 4,580   $ 3,949
                                  ======================================
</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 six
month periods  ended June 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-Q  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 not to 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 $239,000  and $604,000 or $.02 and $.06 per
share, respectively, during the three and six month periods ended June 30, 2001,
as compared  with income of $353,000 and  $762,000,  or $.04 and $.08 per share,
during the same  respective  periods  in 2000.  The  decrease  in  earnings  was
primarily  due to increased  operating  expenses and  recording a provision  for
credit  losses  during the three and six months ended June 30, 2001, as compared
to no provision in the same period last year.

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

<TABLE>
<CAPTION>

                  June 30,  December 31,  June 30,  December 31,
                     2001        2000       2000       1999
(in thousands)   ----------------------------------------------
<S>              <C>          <C>        <C>         <C>
Total assets .   $217,137     $196,309   $191,581    $186,823
Loans ........    135,297      132,757    132,731     133,008
Deposits .....    191,062      165,650    160,164     158,646
</TABLE>


The $21 million  increase in total  assets  from  December  31, 2000 to June 30,
2001,  occurred  primarily due to increases of $12 million in mutual  funds,  $4
million in investment  securities and a $3 million increase in loans at Sunwest.
The increase in assets during this period was funded by increases of $25 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 June 30, 2001,  noninterest-bearing  deposits  increased $4 million,
savings,  money  market  and  interest-bearing  demand  deposits  increased  $15
million, and time deposits increased $6 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.  The change in the mix of interest  earning
assets and deposits  affected  net interest  income.  Average  interest  earning
assets increased $22 million, or 12%, in the first three months of 2001 compared
to 2000 and increased $19 million, or 11%, in the six months ended June 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 61 basis  points and 57 basis points in
the three and six months  ended June 30, 2001  compared  to the same  respective
periods in 2000. The net yield on interest  earning assets (net interest  income
divided by  average  earning  assets)  decreased  65 basis  points in the second
quarter of 2001 and 47 basis  points in the first six 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 275
basis points from the prior year.

The yield on interest  earning assets  decreased  primarily due to a decrease in
loan yields of 67 basis  points and 51 basis  points in the three and six months
ended June 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% to 67%  and  mutual  funds
increased  from 4% to 13% at June 30, 2001.  The yield on investment  securities
and mutual funds  declined 57 basis points and 170 basis  points,  respectively,
for the three  months  ended  June 30,  2001,  and 42 basis  points and 66 basis
points, respectively, for the six months ended June 30, 2001.

Interest  expense  decreased during the three and six months ended June 30, 2001
as a result of lower  deposit  and  borrowing  rates.  Average  interest-bearing
liabilities  increased  by $5 million and $2 million in the three and six months
ended June 30, 2001, respectively. Average time deposits declined $6 million and
$8 million in the three and six months ended June 30, 2001,  respectively,  as a
result of a decrease in average  money desk  deposits of $7 million in the three
and six months  ended June 30,  2001,  as compared to the same  periods in 2000.
Average Federal Home Loan Bank borrowings  declined $3 million and $2 million in
the three and six months ended June 30, 2001,  respectively.  Average other debt
declined $1 million in the three and six months ended June 30, 2001, compared to
the same period in 2000. This was partially offset by an increase of $15 million
and $13 million in average interest-bearing demand deposits in the three and six
months ended June 30,  2001,  respectively.  The rates paid on  interest-bearing
liabilities  decreased 49 basis points and 24 basis points for the three and six
months ended June 30,  2001,  respectively,  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  $14 million and $11 million in the three and six months  ended
June 30,  2001,  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 17 basis  points  and 28 basis  points for the three and six months
ended June 30, 2001,  respectively,  compared to the same  periods in 2000.  The
decline in average  money desk deposits  contributed  to the decline in rates on
time  deposits of 38 basis points for the three  months ended June 30, 2001,  as
compared to June 30, 2000. The Company's  deposits are  concentrated  in low and
noninterest-bearing transaction accounts at June 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 six month  periods
ended June 30, 2001 and 2000.

<TABLE>
<CAPTION>

                                                Three months ended June 30,
                                               2001                   2000
                                      Average         Yields/   Average         Yields/
(dollars in millions)                 Balance         Rates     Balance         Rates
                                      ------------------------------------------------
<S>                                   <C>              <C>      <C>             <C>
ASSETS
Loans, net of unearned income,
     discounts and fees ...........   $   134.6         8.99%   $  135.2        9.66%
Investment securities .............        40.6         7.17        39.1        7.74
Mutual funds ......................        28.1         4.44         7.1        6.14
Federal funds sold ................         0.0         0.00         0.3        6.13
                                     -------------------------------------------------
Total interest earning assets .....       203.3         8.00       181.7        9.10

Allowance for loan losses .........        (2.6)                    (2.5)
Cash and due from banks ...........        11.4                     10.6
Other assets ......................         2.7                      4.0
                                     -------------------------------------------------
                                      $   214.8                 $  193.8
                                     =================================================

LIABILITIES AND
SHAREHOLDERS' EQUITY

Time deposits .....................   $    44.9         5.14%   $   51.0        5.52%
Interest-bearing demand deposits ..        62.6         2.47        47.2        2.30
Savings deposits ..................         4.0         1.10         4.6        1.27
FHLB borrowings ...................         6.4         5.66         9.6        6.12
Other debt ........................         0.0         0.00         0.6       15.79
                                     -------------------------------------------------
Total interest-bearing liabilities        117.9         3.62       113.0        4.11

Demand deposits ...................        71.8                     60.2
Other liabilities .................         1.6                      1.7
Minority interest .................        10.1                      8.4
Shareholders' equity ..............        13.4                     10.5
                                     -------------------------------------------------
                                       $  214.8                 $  193.8
                                     ==================================================
Net interest margin                                    4.38%                    4.99%
Net yield on interest earning assets                   5.90                     6.55

</TABLE>



<PAGE>

<TABLE>
<CAPTION>
                                                     Six months ended June 30,
                                               2001                            2000
                                      Average          Yields/         Average        Yields/
(dollars in millions)                 Balance          Rates           Balance        Rates
                                      ------------------------------------------------------
<S>                                   <C>               <C>           <C>             <C>
ASSETS
Loans, net of unearned income,
     discounts and fees ............  $    135.3         9.21%        $  134.7        9.72%
Investment securities ..............        40.1         7.38             38.6        7.80
Mutual funds .......................        22.8         4.89              5.8        5.55
Federal funds sold .................         0.0         0.00              0.2        5.34
                                      -----------------------------------------------------
Total interest earning assets ......       198.2         8.35            179.3        9.17

Allowance for loan losses ..........        (2.6)                         (2.5)
Cash and due from banks ............        11.7                           9.9
Other assets .......................         2.8                           4.5
                                      -----------------------------------------------------
                                        $  210.1                     $   191.2
                                      =====================================================

LIABILITIES AND
SHAREHOLDERS' EQUITY

Time deposits ......................   $    44.0         5.44%       $   51.6         5.41%
Interest-bearing demand deposits ...        59.5         2.53            46.3         2.25
Savings deposits ...................         3.9         1.17             4.9         1.27
FHLB borrowings ....................         6.8         6.02             9.0         6.12
Other debt .........................         0.0         0.00             0.7        16.66
                                       ----------------------------------------------------
Total interest-bearing liabilities .       114.2         3.81           112.5         4.05

Demand deposits ....................        71.2                         58.4
Other liabilities ..................         1.6                          1.7
Minority interest ..................         9.9                          8.2
Shareholders' equity ...............        13.2                         10.4
                                       ----------------------------------------------------
                                        $  210.1                    $   191.2
                                       ====================================================
Net interest margin ................                     4.54%                        5.11%
Net yield on interest earning assets                     6.15                         6.62

</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 (in thousands):

<TABLE>
<CAPTION>

                                                Three Months Ended June 30,     Six Months Ended June 30,
                                                ---------------------------------------------------------
                                                 Asset/     Interest            Asset/     Interest
                                                 Liability  Rate                Liability  Rate
                                                 Changes    Changes  Total      Changes    Changes  Total
                                                ---------------------------------------------------------
<S>                                             <C>         <C>      <C>        <C>        <C>      <C>
Changes in:
     Interest income ........................   $ 253       $(322)   $ (69)     $ 504      $(450)   $  54
     Interest expense .......................     (44)        (48)     (92)      (147)        45     (102)
                                                ---------------------------------------------------------
Net interest income .........................   $ 297       $(274)   $  23      $ 651      $(495)   $ 156
                                                =========================================================
</TABLE>


The Company has $245,000 of loans on nonaccrual  status at June 30, 2001.  Loans
on which the accrual of interest had been discontinued at June 30, 2000 amounted
to $467,000.  If these loans had been  current  throughout  their  terms,  it is
estimated that net interest income would have increased by approximately  $7,000
in the second  quarter and first six months of 2001.  This would have raised the
net  yield  on  interest   earning  assets  and  the  net  interest   margin  by
approximately  1 basis point during the second  quarter of 2000.  This  interest
income  does not affect  the net yield on  interest  earning  assets and the net
interest margin for the six months ended June 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 (in thousands):
<TABLE>
<CAPTION>

                                      Three Months Ended       Six Months Ended
                                             June 30,              June 30,
                                         2001       2000       2001       2000
                                      -------------------------------------------
<S>                                   <C>        <C>        <C>        <C>
Allowance for loan losses
     balance at beginning of period   $ 2,609    $ 2,468    $ 2,554    $ 2,457

Charge-offs .......................       (19)       (17)       (19)       (17)
Recoveries ........................        33         21         43         32
                                      -------------------------------------------
Net recoveries ....................        14          4         24         15

Provision for loan losses .........        55         --        100         --
                                      -------------------------------------------
Allowance for loan losses
     balance at end of period .....   $ 2,678    $ 2,472    $ 2,678    $ 2,472
                                      ===========================================
</TABLE>

All the above  charge-offs  and recoveries  were at Sunwest.  The net recoveries
during the three and six months ended June 30, 2001,  were  primarily the result
of improved asset quality.

<PAGE>

Management  believes  that the  allowance  for loan  losses at June 30,  2001 of
$2,678,000,  or 2% 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>

                          June 30,     December 31,       June 30,     December 31,
                            2001           2000             2000           1999
                          --------------------------------------------------------
<S>                       <C>          <C>                <C>           <C>
Nonaccrual loans ......   $  245       $ -                $  467        $  505
Loans 90 days past due
     and still accruing       --        --                    --            --
                          --------------------------------------------------------
Nonperforming loans ...      245        --                   467           505
Real estate owned .....       --        --                    13           502
                          --------------------------------------------------------
Nonperforming assets ..   $  245       $ -                $  480        $1,007
                         =========================================================
Nonperforming loans/
    Total loans .......      .18%       .00%                .35%          .38%
Nonperforming assets/
    Total assets ......      .11%       .00%                .25%          .54%
                          ========================================================

</TABLE>

Nonperforming  assets have  increased from zero at December 31, 2000 to $245,000
at June 30, 2001.  The  increase is due  primarily to two SBA loans that went on
nonaccrual in the second quarter of 2001.

The  Company's  real  estate  owned had zero book value as of June 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 June 30, 2001. No restructured loans were
on nonaccrual status at June 30, 2001.

OTHER OPERATING INCOME

Other operating  income  increased by $10,000 for the three and six months ended
June 30, 2001,  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  $345,000 and $631,000 in the three and six
months ended June 30,  2001,  respectively,  from the same periods in 2000.  The
increase  was  primarily  attributed  to the  increase in salaries  and employee
benefits and  professional  service.  Salaries and employee  benefits  increased
$64,000  and  $211,000,  or 6% and 11%,  for the three  and six  months of 2001,
respectively,  as  compared  to the same  periods in 2000.  Number of  employees
increased  from 58 at June 30, 2000 to 68 at June 30,  2001.  As a result of the
impending  reorganization between West Coast and Sunwest,  professional services
increased $154,000 and $204,000,  or 164% and 119%, for the three and six months
of 2001,  respectively,  as  compared to the same  periods in 2000.  The Company
anticipates spending more in professional fees of approximately  $88,000 for the
next two quarters in 2001.  The increase was  partially  offset by occupancy and
depreciation and amortization  expense.  Occupancy  declined $45,000 and $43,000
for the three and six month periods in 2001 and  depreciation  and  amortization
decreased  $34,000 and $69,000 for the three and six month periods in 2001.  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       Six Months Ended
                                               June 30,                June 30,
                                           2001        2000        2001       2000
                                      ----------------------------------------------
<S>                                       <C>          <C>         <C>        <C>
Other operating expenses ................ $2,388       $2,043      $4,580     $3,949
Other operating expenses
     (annualized)/average assets ........   4.4%         4.2%        4.7%       4.1%
Other operating expenses/net interest
     income and other operating income ..  73.9%        63.9%       69.8%      61.8%
                                      ==============================================
</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 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 June 30, 2001 and 2000 was
approximately $235,000 and $174,000, respectively, and $468,000 and $349,000 for
the six months  ended June 30,  2001 and 2000.  Rents paid were offset by rental
income of  $101,000  and $48,000  for the three  months  ended June 30, 2001 and
2000,  respectively,  and $199,000 and $96,000 for the six months ended June 30,
2001 and 2000.

Future minimum lease  commitments  under all  non-cancelable  leases at June 30,
2001 are approximately $10.2 million. The minimum lease payments include the new
lease that the Company  entered into during 2001 in order to move its  corporate
headquarters,  Tustin branch and back office functions to another location.  The
Company's  rental  expense will be higher at the new  location  and  anticipates
spending   approximately   $207,000  in  tenant  improvements  and  $522,000  in
furniture, fixtures and equipment.

Total  minimum  sublease  rental  income  to be  received  in the  future  under
non-cancelable subleases is $1.1 million.
<PAGE>


INCOME TAXES

The Company  recognized  income tax expense of $328,000 and $498,000  during the
three months ended June 30, 2001 and 2000,  respectively.  Income tax expense of
$761,000 and  $1,041,000  were  recognized  during the six months ended June 30,
2001 and 2000, respectively.  Income tax expense is higher in 2000 due to higher
earnings and a higher tax rate.  Sunwest recorded income tax expense at the rate
of 39.25% in 2001 and 41.25% in 2000.

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 25% at June 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 June 30,  2001,  Sunwest had the ability to pay cash  dividends  of
$1,485,000 to West Coast.

During  the first six 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 June 30,  2001,  West  Coast had cash and  short  term  investments  totaling
$113,000. 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  $52,000  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 13.45%,  14.70% and 11.03% Tier 1  risk-based  capital,  total
risk-based capital and leverage ratio at June 30, 2001 respectively. Sunwest had
a 13.41%, 14.66% and 11.00% Tier 1 risk-based capital,  total risk-based capital
and  leverage  ratio  at June  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
June 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

               On June 29,  2001,  the  Company  filed a Form 8-K under  Item 5,
               reporting   the   execution   of  the   Agreement   and  Plan  of
               Reorganization by and between West Coast Bancorp and Sunwest Bank
               dated June 22, 2001.



<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                            August 2, 2001
--------------------------                  ----------------------
Eric D. Hovde                               Date
Chief Executive Officer





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