LOS ANGELES, Nov. 01, 2022 (GLOBE NEWSWIRE) -- PacWest Bancorp (NASDAQ:PACW) announced today that its Board of Directors has declared a quarterly cash dividend of $0.25 per common share. The cash dividend is payable on November 30, 2022 to stockholders of record at the close of business on November 15, 2022.

The Board of Directors also declared a quarterly cash dividend of $0.4845 per depositary share on its 7.75% Fixed Rate Reset Non-Cumulative Perpetual Preferred Stock, Series A. The dividend will be payable December 1, 2022 to stockholders of record as of November 15, 2022. The Series A depositary shares are traded on the Nasdaq Stock Exchange under the "PACWP" symbol.

ABOUT PACWEST BANCORP

PacWest Bancorp ("PacWest") is a bank holding company with over $41 billion in assets headquartered in Los Angeles, California, with an executive office in Denver, Colorado, with one wholly-owned banking subsidiary, Pacific Western Bank (the "Bank"). The Bank is focused on relationship-based business banking to small, middle-market, and venture-backed businesses nationwide. The Bank offers a broad range of loan and lease and deposit products and services through 69 full-service branches located in California, one branch located in Durham, North Carolina, and one branch located in Denver, Colorado, and numerous loan production offices around the country. The Bank provides community banking products including lending and comprehensive deposit and treasury management services to small and medium-sized businesses conducted primarily through our California-based branch offices and Denver, Colorado branch office. The Bank offers national lending products including asset-based, equipment, and real estate loans and treasury management services to established middle-market businesses on a national basis. The Bank provides venture banking products including a comprehensive suite of financial services focused on entrepreneurial and venture-backed businesses and their venture capital and private equity investors, with offices located in key innovation hubs across the United States. The Bank also offers financing of business-purpose, non-owner-occupied investor properties through Civic Financial Services a wholly-owned subsidiary. The Bank also provides a specialized suite of services for the HOA industry. For more information about PacWest Bancorp or Pacific Western Bank, visit www.pacwest.com.

CONTACTS

Bart R. Olson

Executive Vice President,

Chief Financial Officer

714.989.4149

William J. Black

Executive Vice President,

Strategy and Corporate Development

919.597.7466