Trade PacWest - PACW CFD

PacWest Company profile

About PacWest Bancorp

PacWest Bancorp is a bank holding company for Pacific Western Bank (the Bank). It is focused on relationship-based business banking for small, middle-market, and venture-backed businesses. It offers a range of loan and lease and deposit products and services. It provides community banking products including lending and comprehensive deposit and treasury management services. It offers national lending products including asset-based, equipment, and real estate loans and treasury management services to middle-market businesses. It provides venture banking products, including financial services focused on entrepreneurial and venture-backed businesses and their venture capital and private equity investors. Its banking products include application programming interface integration, auto books, business credit cards, and merchant services. It offers cash management, online banking, disbursement services, and international banking. It offers lockbox services and automated clearing houses.

Financial summary

BRIEF: For the fiscal year ended 31 December 2021, PacWest Bancorp interest income increased 5% to $1.16B. Net interest income after loan loss provision increased 25% to $1.27B. Net income applicable to common stockholders totaled $596.7M vs. loss of $1.24B. Net interest income after loan loss provision reflects Net Interest Spread, Total -% increase of 1% to 3.12%, Investment securities increase of 44% to $153.5M.

Equity composition

Common Stock $0.010 Par, 12/10, 75M auth., 36,880,225 issd.,less 207,796 shs in Treas. @ $3.8M. Insiders control approx. 14.29% .5/08, Name changed from First Community Bancorp.