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Pacwest Bancorp  (PACW)
Other Ticker:  
 
    Sector  Financial    Industry Commercial Banks
   Industry Commercial Banks
   Sector  Financial
 
Price: $7.5400 $-0.21 -2.710%
Day's High: $8 Week Perf: -6.91 %
Day's Low: $ 7.46 30 Day Perf: 6.5 %
Volume (M): 24,716 52 Wk High: $ 12.64
Volume (M$): $ 186,358 52 Wk Avg: $8.16
Open: $7.92 52 Wk Low: $2.48



 Market Capitalization (Millions $) 896
 Shares Outstanding (Millions) 119
 Employees 1,670
 Revenues (TTM) (Millions $) 861
 Net Income (TTM) (Millions $) -1,375
 Cash Flow (TTM) (Millions $) 3,609
 Capital Exp. (TTM) (Millions $) 19

Pacwest Bancorp
We believe that stable, long-term growth and profitability are the result of building strong customer relationships while maintaining disciplined credit underwriting standards. We continue to focus on originating high-quality loans and leases and growing our low-cost deposit base through our relationship-based business lending. These core strengths enable us to maintain our operational efficiency and increase profitability, increase our core deposits and grow loans and leases in a sound manner.
Our loan and lease portfolio consists primarily of real estate mortgage loans, real estate construction and land loans, and commercial and industrial, or "C&I", loans and leases. We pursue attractive growth opportunities to expand and enter new markets aligned with our business model and strategic plans. Additionally, we focus on cultivating strong relationships with firms within the private equity and venture capital community nationwide, many of which are also our clients and/or may invest in our clients.

Our reputation, expertise and relationship-based business banking model enable us to deepen our relationships with our customers. We leverage our relationships with existing customers by cross-selling our products and services, including attracting deposits from and offering cash management solutions to our loan and lease customers. We price our deposit products with a view to maximizing our share of each customers financial services business and prudently managing our cost of funds.
Focusing on operational efficiency is critical to our profitability and future growth. We intend to carefully manage our cost structure and continuously refine and implement internal processes and systems to create further efficiencies and enhance our earnings. We are also continuing our efforts to shift our deposit base from certificates of deposit to lower-cost core deposits, a strategic initiative that was undertaken following the CapitalSource Inc. merger. The acquisition of Square 1 accelerated this process as nearly all of the $3.8 billion of acquired deposits were core deposits.

Deposits are our primary source of funds to support our revenue-generating assets and provide a source of low-cost funds and deposit-related fee income. We offer traditional deposit products to businesses and other customers with a variety of rates and terms, including demand, money market, and time deposits. We also provide international banking services, multi-state deposit services, asset management services, as well as product offerings through other correspondent banks. The Bank’s deposits are insured by the Federal Deposit Insurance Corporation, or "FDIC," up to statutory limits.


Our branch network allows us to gather deposits, expand our brand presence and service our customers’ banking and cash management needs. In addition, as the banking industry continues to experience broader customer acceptance of on-line and mobile banking tools for conducting basic banking functions we are able to serve our customers through a wide range of non-branch channels, including on-line and telephone banking platforms, which allows us to attract new depositors without a commensurate increase in branch traffic.

The composition of our deposit mix changed as a result of the CapitalSource Inc. merger, which lowered the proportion of core deposits and increased the proportion of more expensive time deposits. Since the CapitalSource Inc. merger, we have focused on shifting the mix of our deposits to include a higher proportion of core deposits. Our dedicated team of professionals has been successful in growing our low-cost, core deposit base by attracting deposits from our business customers and offering alternative cash management solutions intended to help retain business customers. The Square 1 acquisition completed in October 2015 accelerated this shift in deposit mix.


We face strong competition in gathering deposits. Our most direct competition for deposits comes from nationwide, regional, and community banks, savings banks and associations, credit unions, insurance companies, money market funds, brokerage firms and other non-bank financial services companies that target the same customers we do. We compete actively for deposits and emphasize solicitation of noninterest-bearing deposits. We seek to provide a higher level of personal service than our larger competitors, many of whom have more assets, capital and resources than we do and may be able to conduct more intensive and broader based promotional efforts to reach both commercial and retail customers. We also compete based on interest rates. Our cost of funds fluctuates with market interest rates and may be affected by higher rates being offered by other financial institutions. In certain interest rate environments, additional significant competition for deposits may be expected to arise from corporate and government debt securities and money market mutual funds. Competition for deposits is also affected by the ease with which customers can transfer deposits from one institution to another.

In addition to deposit products, we also offer select clients non-depository cash investment options through Square 1 Asset Management, Inc. ("S1AM"), our registered investment adviser subsidiary, and third-party money market sweep products. S1AM provides customized investment advisory and asset management solutions.

We conduct a range of commercial lending activities that includes real estate mortgage, real estate construction and land loans and C&I loans and leases. Our commercial real estate loans are secured by a range of property types. Our C&I loan offerings are diverse and generally include various asset-secured loans, equipment-secured loans and leases, cash flow loans (leveraged loans) to finance business acquisitions and recapitalizations, and venture loans to support the operations of entrepreneurial companies during the various phases of their start-up operations. We price loans to preserve our interest spread and maintain our net interest margin. Loan interest rates may be floating throughout the loan term or fixed. The rates on hybrid loans typically are fixed for a set period and then become floating later in the loan term. While we do not actively solicit consumer loans, we hold consumer loans, which are primarily purchased participation interests in student loans originated and serviced by a third-party lender.



   Company Address: 9701 Wilshire Blvd., Suite 700 Beverly Hills 90212 CA
   Company Phone Number: 887-8500   Stock Exchange / Ticker: NASDAQ PACW
   


Customers Net Income grew by PACW's Customers Net Profit Margin grew to

14.64 %

22.42 %

• Customers Performance • Customers Expend. • Customers Efficiency • List of Customers


   

Stock Performances by Major Competitors

5 Days Decrease / Increase
     
BAC        0.14% 
COF   -2.85%    
HBAN   -3.13%    
NWBI   -2.48%    
PNC   -0.91%    
TFC   -5.42%    
• View Complete Report
   



Pacwest Bancorp

Pacwest Bancorp Navigates Through an Intensely Challenging Financial Landscape in the Third Quarter of 2023

PacWest Bancorp (PACW) recently announced its quarterly cash dividend of $0.01 per common share, which may seem like a positive development at first glance. However, it is important to assess this announcement in the context of the company's overall performance and market conditions.
The financial interval ending September 30, 2023, proved to be disastrous for PACW, with a significant decline in revenue and a widened net loss per share. Revenue faded by -52.93% to $174.54 million compared to the previous reporting period, where it had doubled by 211.707% to $55.99 million. Similarly, the net loss per share extended from $-1.75 to $-0.28. These figures indicate a worrying trend for the company's financial health.
Additionally, PACW reported a net deficit of $-23.344 million for the financial interval ending September 30, 2023, in contrast to net proceeds of $131.616 million during the same reporting period the previous year. This substantial downturn emphasizes the challenges PACW has faced in recent times.

Dividend

PacWest Bancorp Confronts Declining Stock Amid Quarterly Dividend Announcement

Published Wed, Nov 1 2023 10:40 PM UTC



PacWest Bancorp (Nasdaq: PACW) recently made an announcement regarding its quarterly cash dividend. While this development may seem positive at first glance, it is essential to contextualize it within the broader market conditions and the company's performance. In a year marked by significant challenges, PacWest Bancorp has witnessed a decline in stock value and is...

Pacwest Bancorp

Pacwest Bancorp Plunges into Deep Deficit, Facing Serious Revenue Fall in Q1 2023 - Shareholders Brace for Impact

In a recent financial report, Pacwest Bancorp has reported a significant decline in profits and revenue for the January to March 31, 2023 time period. The company slipped into a deficit of $-10.22 per share, compared to a profit of $1.14 per share the previous year. Furthermore, Income per Share fell to $0.18 per share from the prior reporting period.
The revenue of the company has receded extensively by -14.053 % to $312.66 million, down from $363.79 million the previous year. Additionally, the company experienced a sequential decrease in revenue by -1.553 % from $317.60 million.
For the January to March 31, 2023 time-period, Pacwest Bancorp logged a net deficit of $-1,195.424 million, instead of the net income of $136.045 million recorded in the corresponding reporting period a year before. These figures present a worrying trend for the company, with the heavy deficit reported representing a significant blow to the financial stability of Pacwest BancorpWhile the report does not offer any specific reasoning for the lackluster financials, it is clear that Pacwest Bancorp may be struggling with some underlying issues that are affecting its financial viability.
The implications of these figures for the company are likely to be severe, with shareholders likely to be concerned about the future prospects of Pacwest Bancorp. Additionally, this report is sure to have a significant impact on the company's stock prices and reputation.
It is yet to be seen how Pacwest Bancorp will respond to this latest financial report, but investors and shareholders alike will be eagerly awaiting the announcement of the next financial earnings report, due on August 07, 2023.






 

Pacwest Bancorp's Segments
 
 
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