PacWest Bancorp Announces Quarterly Dividend

Rhea-AI Summary

PacWest Bancorp has declared a quarterly cash dividend of $0.25 per share, payable on February 28, 2022, to stockholders of record as of February 15, 2022. With over $40 billion in assets, PacWest provides a variety of community banking products primarily to small and medium-sized businesses through Pacific Western Bank, encompassing lending, treasury management, and specialized services for entrepreneurial ventures. This dividend highlights the company's commitment to returning value to its shareholders.

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• Quarterly cash dividend of $0.25 per share enhances shareholder returns.

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• None.

$0.25 Per Share Cash Dividend Payable on February 28, 2022 to Stockholders of Record on February 15, 2022

LOS ANGELES, Feb. 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 February 28, 2022 to stockholders of record at the close of business on February 15, 2022.

ABOUT PACWEST BANCORP

PacWest Bancorp (“PacWest”) is a bank holding company with over $40 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 has 69 full-service branches located in California, one branch located in Durham, North Carolina, and one branch located in Denver, Colorado. 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 innovative hubs across the United States. The Bank also offers financing of non-owner-occupied investor properties through Civic Financial Services a wholly-owned subsidiary. The Bank also offers a specialized suite of services for the HOA industry. For more information about PacWest Bancorp or Pacific Western Bank, visit www.pacwest.com.

CONTACTS

Matthew P. Wagner      President and CEO 303.802.8900

Bart R. Olson Executive Vice President and CFO 714.989.4149

William J. Black Executive Vice President Strategy and Corporate Development 919.597.7466

FAQ

When will the dividend for PACW be paid?

The dividend for PACW will be paid on February 28, 2022.

What is the record date for PACW's dividend?

The record date for PACW's dividend is February 15, 2022.

How much is the dividend declared by PACW?

PACW has declared a dividend of $0.25 per share.

Is the dividend from PACW sustainable?

The press release does not provide information on the sustainability of the dividend.