Description

PacWest Bancorp serves as the holding company for Pacific Western Bank, offering a comprehensive suite of banking solutions and financial services. The institution facilitates various deposit accounts, including checking, money market, and time deposits. Its lending portfolio is extensive, featuring commercial real estate loans provided to professional developers and investors for property acquisition, refinancing, renovation, and construction. It also extends Small Business Administration (SBA) loans, asset-based financing for working capital needs, and specialized venture capital loans designed to support entrepreneurial and venture-backed companies. Furthermore, PacWest provides equipment-secured loans and leases. For individual clients, the company offers consumer credit products such as personal loans, automobile financing, home equity lines of credit, revolving lines of credit, and other personal lending options. Beyond lending and deposits, PacWest delivers international banking and multi-state deposit services, money market sweep products, investment advisory and asset management, and robust treasury and cash management solutions. Its digital banking offerings include telephone banking, remote deposit, comprehensive online and mobile banking, and convenient automated teller machine (ATM) services. PacWest caters to a diverse clientele, including small and medium-sized businesses, venture capital and private equity investors, professionals, and individual consumers. As of February 1, 2022, its operational footprint encompassed 69 full-service branches across California, a single branch in Durham, North Carolina, another in Denver, Colorado, and numerous loan production offices. Established in 1999, the company initially operated as First Community Bancorp before adopting the PacWest Bancorp name in April 2008. Its corporate headquarters are situated in Beverly Hills, California.