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FHLB Recognizes West Coast Bank With Community Award

In Seattle, Washington, one lender has cause for celebration as we head into the new year. ""West Coast Bank"":www.wcb.com/ has been named as the recipient of the 2011 Community Spirit Award, which is given annually by the ""Federal Home Loan Bank of Seattle"":www.fhlbsea.com/.

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The special honor is extended yearly to a financial institution that is recognized as exemplifying the spirit of community partnership in creating affordable housing and economic development opportunities in its immediate region. West Coast Bank was selected as the 2011 winner based on its outstanding programming targeting affordable housing and community investments.

Seattle Bank limits the scope of the award to those that are members of the bank's cooperative, and the company notes that through its partnership with the financial institution, West

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Coast Bank has provided over $24 million in grants and reduced-rate loans to facilitate the creation of 380 units of affordable housing.

Via its community contributions, West Coast Bank was able to stimulate job growth and improve the areas it serves throughout Oregon and Southern Washington. Robert D. Sznewajs, president and CEO of West Coast Bank, said of the honor, ""As a community bank, our people take great pride in actively participating in the needs of our communities. The investments in our communities can be accomplished in many ways-from a new fire station to affordable housing. This award is a direct reflection on the efforts of our people who live and work in their communities in conjunction with the support of the Federal Home Loan Bank of Seattle. We are honored to receive this award.""

Seattle Bank is considered a financial cooperative that gives liquidity, funding, and services to enhance the performance of its members while supporting the availability of affordable homes and economic developments in the communities served by the participating banks. Currently, Seattle Bank boasts more than 360 member institutions, and the bank has a presence in eight states, as well as American Samoa, Guam, and the Northern Mariana.

West Coast Bank operates as the retail arm of West Coast Bancorp, a publicly held bank holding company. ""West Coast Bancorp"":en.wikipedia.org/wiki/West_Coast_Bancorp is estimated to have around $2.5 billion in assets, and in addition to acting as the parent company of West Coast Bank, the entity also encompasses ""West Coast Trust Company, Inc."":www.wcb.com/trust/team.html

About Author: Abby Gregory

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