Looking to slash overhead, West Coast Bancorp said it will combine its four affiliate banks under one name, eliminating about 100 jobs and 40 director posts.

The Lake Oswego, Ore., company, with $1.2 billion of assets and 41 offices in Oregon and Washington, plans to take a one-time consolidation charge of $5 million in order to save about $6 million annually, or 12% of its current overhead expenses.

Limited Time Offer

Save $400 off your subscription. Special offer ends April 30, 2017.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.