PacWest Bancorp Announces Quarterly Dividends

Rhea-AI Summary

PacWest Bancorp (Nasdaq: PACW) has declared a quarterly cash dividend of $0.01 per common share and $0.4845 per depositary share on its 7.75% Fixed Rate Reset Non-Cumulative Perpetual Preferred Stock, Series A. The dividends will be payable on November 27 and November 28, 2023, respectively, to stockholders of record as of November 13, 2023.

LOS ANGELES, Nov. 01, 2023 (GLOBE NEWSWIRE) -- PacWest Bancorp (Nasdaq: PACW) announced today that its Board of Directors has declared a quarterly cash dividend of $0.01 per common share. The cash dividend is payable on November 27, 2023 to stockholders of record at the close of business on November 13, 2023.

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 November 28, 2023 to stockholders of record as of November 13, 2023. 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 headquartered in Los Angeles, California, with an executive office in Denver, Colorado, with one wholly-owned banking subsidiary, Pacific Western Bank (the “Bank”). Pacific Western Bank is a relationship-based community bank focused on providing business banking and treasury management services to small, middle-market, and venture-backed businesses. The Bank offers a broad range of loan and lease and deposit products and services through full-service branches throughout California and in Durham,North Carolina and Denver, Colorado, and loan production offices around the country. For more information about PacWest Bancorp or Pacific Western Bank, visit www.pacwest.com.

CONTACTS

Kevin L. Thompson Executive Vice President, Chief Financial Officer 303.802.8934

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

What is the dividend declared by PacWest Bancorp?

PacWest Bancorp has declared a quarterly cash dividend of $0.01 per common share and $0.4845 per depositary share on its 7.75% Fixed Rate Reset Non-Cumulative Perpetual Preferred Stock, Series A.

When will the dividends be payable?

The cash dividend on common shares will be payable on November 27, 2023, and the dividend on depositary shares will be payable on November 28, 2023.

Who will receive the dividends?

The dividends will be payable to stockholders of record as of November 13, 2023.

What is the trading symbol for the Series A depositary shares?

The Series A depositary shares are traded on the Nasdaq Stock Exchange under the symbol “PACWP”.