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West Coast Bancorp Reports Operating Results (10-Q)
Posted by: gurufocus (IP Logged)
Date: August 8, 2012 05:29PM
West Coast Bancorp (WCBO) filed Quarterly Report for the period ended 2012-06-30. West Coast Bancorp has a market cap of $383.2 million; its shares were traded at around $19.73 with a P/E ratio of 11.9 and P/S ratio of 2.9.
Highlight of Business Operations:Net Income. Net income for the three months ended June 30, 2012, was $6.0 million, as compared to net income of $4.6 for the three months ended June 30, 2011. Earnings per diluted share for the three months ended June 30, 2012, was $0.28, as compared to earnings per diluted share of $0.22 for the three months ended June 30, 2011.
At June 30, 2012, management estimated that the Companys current balance sheet remained slightly asset sensitive over a twelve month measurement period given instantaneous parallel rate shocks. Asset sensitive means that earning assets are expected to mature or reprice more quickly than interest bearing liabilities over this period under the parallel rate change scenario. Management estimates of the Companys interest rate risk position are highly dependent upon a number of assumptions regarding the repricing behavior of various deposit, investment, and loan types in response to changes in both short-term and long-term interest rates, balance sheet composition, and other modeling assumptions, including whether interest rate shocks or gradual interest rate changes are utilized in modeling, as well as actions of competitors and customers in response to those changes. For more information see the discussion under the heading
Stocks Discussed: WCBO,