PACW - Earnings announcements

SECOND QUARTER 2023 HIGHLIGHTS Net loss available to common stockholders of $207.4 million, or a loss of $1.75 per diluted share as the quarter was impacted by items related to loan sales and restructuring of our Civic subsidiaryAdjusted earnings of $36.0 million and adjusted diluted earnings per common share of $0.22, which exclude the effect of loan sales, lower of cost or market held for sale ("LOCOM HFS") adjustments, and reorganization costs as detailed belowExecuted on strategic plan to divest non-core loan portfolios including selling National Construction portfolio, including $2.6 billion of loans and $2.3 billion of unfunded commitmentsLender Finance portfolio, including $2.1 billi

Combination will create California's premier relationship-focused business bank Combined $36 billion asset bank with extensive Southern CA footprint to be headquartered in Los Angeles 20%+ accretion to BANC's 2024 Estimated EPS and immediately 3% accretive to TBVPS $400 million equity raise is fully committed after extensive investor due diligence Robust capital at 10%+ pro forma CET1; hedges and forward sales lock in a strong and liquid balance sheet at close $13 billion of wholesale borrowings to be repaid, resulting in a <10% wholesale funding ratio Highly experienced management with proven expertise in acquisitions led by Banc of California's CEO with deep understandin

Combination will create California's premier relationship-focused business bank Combined $36 billion asset bank with extensive Southern CA footprint to be headquartered in Los Angeles 20%+ accretion to BANC's 2024 Estimated EPS and immediately 3% accretive to TBVPS$400 million equity raise is fully committed after extensive investor due diligenceRobust capital at 10%+ pro forma CET1; hedges and forward sales lock in a strong and liquid balance sheet at close$13 billion of wholesale borrowings to be repaid, resulting in a <10% wholesale funding ratioHighly experienced management with proven expertise in acquisitions led by Banc of California's CEO with deep understanding of PacWest's franchi

LOS ANGELES, July 07, 2023 (GLOBE NEWSWIRE) -- PacWest Bancorp (NASDAQ:PACW) (the "Company" or "PacWest") will report its financial results for the quarter and year-to-date period ended June 30, 2023 after the close of the stock market on Tuesday, July 25, 2023. The Company will file its quarterly financial results with the SEC via Form 8-K and issue a press release via newswire, which will also be posted on the SEC Filings section of its website at http://www.pacwestbancorp.com. Management will host a conference call at 8:00 AM PT/ 11:00 AM ET on Wednesday, July 26, 2023 to discuss the Company's performance. Participants may access the conference call/webcast at:Participant Dial-in: (866

LOS ANGELES, April 25, 2023 (GLOBE NEWSWIRE) -- FIRST QUARTER 2023 HIGHLIGHTS  Net loss available to common stockholders of $1.21 billion, or a loss of $10.22 per diluted shareAdjusted earnings of $89.4 million, or $0.66 per diluted share, which excludes non-cash goodwill impairment, and severance and contract termination expense (non-GAAP measure) Goodwill impairment of $1.38 billion recorded due to decline in our stock price as a result of recent market volatility. Goodwill impairment is a non-cash charge and has no impact on our regulatory capital ratios, cash flows, or liquidity positionSeverance and contract termination expense of $8.5 million accrued related to our efficiency init

LOS ANGELES, March 31, 2023 (GLOBE NEWSWIRE) -- PacWest Bancorp (NASDAQ:PACW) (the "Company" or "PacWest") will report its financial results for the quarter ended March 31, 2023 after the close of the stock market on Tuesday, April 25, 2023. The Company will file its quarterly financial results with the SEC via Form 8-K and issue a press release via newswire, which will also be posted on the SEC Filings section of its website at http://www.pacwestbancorp.com. Management will host a conference call at 8:00 AM PT/ 11:00 AM ET on Wednesday, April 26, 2023 to discuss the Company's performance. Participants may access the conference call/webcast at:Participant Dial-in: (888) 256-1007Participan

LOS ANGELES, Jan. 26, 2023 (GLOBE NEWSWIRE) -- PacWest Bancorp (NASDAQ:PACW) - FOURTH QUARTER 2022 RESULTS $39.6M$0.3314.39%8.70%Net Earnings Available to Common StockholdersDiluted Earnings per Common ShareROATCECET1 FOURTH QUARTER 2022 HIGHLIGHTS  Announced leadership transition with Paul Taylor as President and CEO and Kevin Thompson as CFOStrategically sold $1 billion of available-for-sale securities for a loss of $49 million to pay down FHLB borrowings and to improve the capital and liquidity position of the BankRecorded goodwill impairment of $29 million related to Civic as part of a strategy to restructure this lending subsidiaryShut down Premium Finance and Multi-Family l

LOS ANGELES, Jan. 05, 2023 (GLOBE NEWSWIRE) -- PacWest Bancorp (NASDAQ:PACW) (the "Company") will report its financial results for the quarter and year-to-date period ended December 31, 2022 after the close of the stock market on Thursday, January 26, 2023. The Company will file its quarterly financial results with the SEC via Form 8-K and issue a press release via newswire, which will also be posted on the SEC Filings section of its website at http://www.pacwestbancorp.com. Management will host a conference call at 8:00 AM PT/ 11:00 AM ET on Friday, January 27, 2023 to discuss the Company's performance. Participants may access the conference call/webcast at:Participant Dial-in: (888) 204

LOS ANGELES, Oct. 19, 2022 (GLOBE NEWSWIRE) -- PacWest Bancorp (NASDAQ:PACW) - THIRD QUARTER 2022 RESULTS $122.2M$1.0224.11%8.55%Net Earnings Available toCommon StockholdersDiluted Earnings per Common ShareROATCECET1 THIRD QUARTER 2022 HIGHLIGHTS All Regulatory Capital Ratios Increased from 2Q22, With CET1 Increasing from 8.24% to 8.55%Total Deposits Up $228 Million or 0.7% from 2Q22; Venture Banking Deposits Grew $129 Million to $12.2 BillionCredit Metrics Remain Steady with Nonperforming Assets Ratio of 34 Basis PointsLoan Growth of $1.2 Billion or 4.4% from 2Q22Net Interest Income (TE) of $338.6 Million in 3Q22 vs. $327.8 Million in 2Q22; Up 3.3% CEO COMMENTARY Matt Wagner, CEO, co

LOS ANGELES, Sept. 28, 2022 (GLOBE NEWSWIRE) -- PacWest Bancorp (NASDAQ:PACW) (the "Company") will report its financial results for the quarter and year-to-date period ended September 30, 2022 after the close of the stock market on Wednesday, October 19, 2022. The Company will file its quarterly financial results with the SEC via Form 8-K and issue a press release via newswire, which will also be posted on the SEC Filings section of its website at www.pacwestbancorp.com. Management will host a conference call at 8:00 AM PT/ 11:00 AM ET on Thursday, October 20, 2022 to discuss the Company's performance. Participants may access the conference call/webcast at:Participant Dial-in: (800) 458-4

LOS ANGELES, July 05, 2022 (GLOBE NEWSWIRE) -- PacWest Bancorp (NASDAQ:PACW) (the "Company") will report its financial results for the quarter and year-to-date period ended June 30, 2022 after the close of the stock market on Wednesday, July 20, 2022. The Company will file its quarterly financial results with the SEC via Form 8-K and issue a press release via newswire, which will also be posted on the SEC Filings section of its website at www.pacwestbancorp.com. Management will host a conference call at 8:00 AM PT/ 11:00 AM ET on Thursday, July 21, 2022 to discuss the Company's performance. Participants may access the conference call/webcast at https://event.webcasts.com/viewer/event.jsp?