Description

PacWest Bancorp operates as the parent entity for Pacific Western Bank, delivering a comprehensive array of financial products and services. The institution offers various deposit accounts, including checking, money market, and term deposits. Its lending portfolio is extensive, featuring real estate financing for professional developers and investors to facilitate the acquisition, refinancing, renovation, and new construction of commercial properties. Additionally, PacWest Bancorp provides Small Business Administration (SBA) loans, asset-backed lending for working capital requirements, and venture capital debt facilities specifically designed to support entrepreneurial and venture-backed companies. The bank also offers equipment-secured loans and leases. For individual consumers, the company furnishes a suite of credit options such as personal loans, auto financing, home equity lines of credit, and revolving credit facilities. Beyond core banking, services extend to international banking, multi-state deposit solutions, money market sweep products, investment advisory and asset management, alongside robust treasury and cash management support. Digital conveniences include telephone banking, remote deposit, online, and mobile banking, complemented by access to automated teller machines. PacWest Bancorp primarily caters to small and mid-sized businesses, venture capital and private equity investors, professionals, and individual clients. As of February 1, 2022, its physical footprint included 69 full-service branches located across California, a branch in Durham, North Carolina, one in Denver, Colorado, and numerous loan production offices. The company, founded in 1999, was initially known as First Community Bancorp before rebranding to PacWest Bancorp in April 2008. Its corporate headquarters are situated in Beverly Hills, California.