PacWest Bancorp
PACWP
NASDAQ Global Select20.94
USD
- -
- -
CIK
0001102112
ISIN
US6952632023
CUSIP
695263202
Return %
Stock
S&P500
1Y
- -
26.53
3Y
-18.52
76.60
5Y
-18.52
80.11
Capital Structure
FRC
•
in mil. unless spec.Working Capital
FRC
•
in mil. unless spec.Growth Rates
FRC
•
in mil. unless spec.Quarterly Revenue
FRC
•
in mil. unless spec.Quarterly Earnings Per Share
FRC
•
in mil. unless spec.Quarterly Dividends Per Share
FRC
•
in mil. unless spec.- CEO
- Paul W. Taylor
- Full Time Employees
- 2,438
- Sector
- Financial Services
- Industry
- Banks - Regional
- Address
- 9701 Wilshire Boulevard Beverly Hills CA United States of America 90212
- IPO Date
- Jun 2, 2022
- CIK
- 0001102112
- Website
- pacwestbancorp.com
- Similar Companies
- Business
- PacWest Bancorp (NASDAQ:PACWP) operates as a bank holding company through its wholly owned subsidiary, Pacific Western Bank, providing commercial banking services to small and medium-sized businesses, non-profit organizations, and individuals. The company offers deposit products including checking accounts, savings accounts, money market accounts, and certificates of deposit; lending solutions encompassing commercial real estate loans, business loans, venture banking, healthcare and education banking, warehouse lending, and lender finance; and additional services such as HOA services, payment processing solutions through Deepstack Technologies, treasury management, equipment financing, and real estate lending. PacWest Bancorp maintains 69 branches primarily in southern and central California, one branch each in Denver, Colorado, and Durham, North Carolina, plus loan production offices nationwide, with headquarters in Beverly Hills, California, where it traces origins to its founding in 1999 as First Community Bancorp. In November 2023, PacWest Bancorp completed its acquisition by Banc of California, establishing it as a subsidiary and supported by a $400 million equity investment from affiliates of Warburg Pincus and Centerbridge Partners in the combined entity. Amid the 2023 banking crisis, the company executed significant portfolio sales including $2.6 billion in real estate construction loans to Kennedy Wilson in May 2023, $1.2 billion in New York City construction loan commitments to Cain International in June 2023, and a $3.54 billion lender finance portfolio to Ares Management in June 2023; it also divested its Civic Financial Services subsidiary in May 2023 following layoffs and halted operations earlier that year. These strategic moves reduced exposure to high-risk assets and deposits, which declined from $33.9 billion to $28.1 billion in the first quarter of 2023, while retaining focus on core commercial banking segments.