Exhibit 99.1

PRESS RELEASE

PacWest Bancorp

(NASDAQ: PACW)

PACWEST BANCORP ANNOUNCES RESULTS

FOR THE THIRD QUARTER OF 2012

Highlights

·                  Net Earnings of $16.1 Million or $0.43 Per Diluted Share

·                  Net Interest Margin at 5.58%; Core Net Interest Margin at 5.32%

·                  Credit Loss Reserve at 2.46% of Net Non-Covered Loans and Leases and 203% of Non-Covered Nonaccrual Loans and Leases

·                  Noninterest-Bearing Deposits at 42% and Core Deposits at 82% of Total Deposits

·                  American Perspective Bank Acquisition Closed on August 1, 2012

·                  Branch Sale Closed on September 21, 2012

Los Angeles, California . . . PacWest Bancorp (Nasdaq: PACW) today announced net earnings for the third quarter of 2012 of $16.1 million, or $0.43 per diluted share, compared to net earnings for the second quarter of 2012 of $15.6 million, or $0.42 per diluted share.

This press release contains certain non-GAAP financial disclosures for tangible common equity; pre-tax earnings before net credit costs, impairment loss on a covered security, debt termination expense, and acquisition and integration costs, which we refer to as “adjusted earnings before income taxes”; and efficiency ratios adjusted to exclude OREO expenses, FDIC loss sharing income, impairment loss on a covered security, acquisition and integration costs, and debt termination expenses.  The Company uses certain non-GAAP financial measures to provide meaningful supplemental information regarding the Company’s operational performance and to enhance investors’ overall understanding of such financial performance.  Given the use of tangible common equity amounts and ratios is prevalent among banking regulators, investors and analysts, we disclose our tangible common equity ratio in addition to equity-to-assets ratio.  Also, as analysts and investors view adjusted earnings before income taxes as an indicator of the

1

Company’s ability to absorb credit losses, we disclose this amount in addition to pre-tax earnings.  We disclose the adjusted efficiency ratio as it shows the trend in recurring overhead-related noninterest expense relative to recurring net revenues. Please refer to the tables at the end of this release for a presentation of performance ratios in accordance with GAAP and a reconciliation of the non-GAAP financial measures to the GAAP financial measures.

The comparability of financial information is affected by our acquisitions.  Operating results include the operations of acquired entities from the dates of acquisition.  The operations of American Perspective Bank (“APB”), Celtic Capital Corporation (“Celtic”) and Pacific Western Equipment Finance (“EQF”) have been included since their respective acquisition dates of August 1, 2012, April 1, 2012, and January 3, 2012.

THIRD QUARTER RESULTS

2

The $531,000 increase in net earnings for the linked quarters was due primarily to the combination of the following:

·                  Net interest income increased $2.4 million ($1.4 million after tax), due to the additional interest on loans from the American Perspective Bank (“APB”) acquisition, offset by lower accelerated accretion of purchase discount resulting from covered loan payoffs.

·                  The provision for credit losses on non-covered loans was a negative $2.0 million for the quarter ($1.2 million after tax) compared to a zero provision in the second quarter.

·                  Noninterest income increased $811,000 ($470,000 after tax), due mostly to an other-than-temporary impairment (“OTTI”) loss on a covered security of $1.1 million incurred in the second quarter and not repeated in the third quarter; our portion of the OTTI loss was $223,000 ($129,000 after tax) after the 80% loss coverage by the FDIC.  Contributing to the increase in noninterest income was a net gain of $297,000 ($172,000 after tax) on the sale of 10 branches to Opus Bank.  These items were offset by decreases in gain on sales of leases, FDIC loss sharing income, and service charges on deposit accounts.

·                  Noninterest expense increased $4.1 million ($2.4 million after tax) due mostly to a $3.9 million ($2.3 million after tax) increase in total OREO expense from higher write-downs based on updated appraisals, a $1.2 million ($713,000 after tax) increase in acquisition and integration costs relating to the acquisition of APB, and $718,000 ($416,000 after tax) increase in overhead costs from the APB operations.  Partially offsetting these factors was a decrease in other expense relating to a lawsuit settlement of $595,000 ($345,000 after tax) incurred in the second quarter and not repeated in the third quarter.

Net credit costs on a pre-tax basis are shown in the following table:

3

The provision for credit losses for the third quarter had two components: a $2.0 million negative provision for non-covered loans and leases and a $141,000 negative provision for covered loans. The third quarter negative non-covered provision for credit losses was based on our allowance methodology which reflected (a) lower historical net charge-off levels, (b) lower nonaccrual and classified loans and leases and (c) the migration of loans and leases into various risk classifications.  During the third quarter, net charge-offs declined by $2.7 million to $1.0 million, nonaccrual loans and leases decreased by $15.8 million to $37.0 million, and classified loans and leases declined by $43.0 million to $96.9 million.  The covered loans negative credit loss provision was driven by increases in expected cash flows on covered loan pools compared to those previously estimated and cash recoveries.

Matt Wagner, Chief Executive Officer, commented, “We had a good third quarter and successfully completed two significant transactions.  The American Perspective Bank acquisition closed on August 1 and we closed the sale of 10 branches on September 21.  The APB acquisition has augmented our earnings and growth potential in the Central Coast market and the branch sale will result in lower overhead of approximately $500,000 per quarter beginning in the fourth quarter.

Mr. Wagner continued, “The economy remains uncertain and loan growth at this point would involve underpricing competitors, in many cases at margins that are not significantly above our securities portfolio yield. We prefer to selectively make or renew quality loans to our good customers at appropriate margins and build relationships rather than focus on attracting customers at low prices. Given our disciplined approach in generating new business, we see short-term loan growth as relatively flat.  Nevertheless, the legacy loan portfolio experienced $8.9 million of organic growth during the third quarter. Our core earnings engine remains very strong and we expect to continue generating solid core income while we evaluate the markets and choose the right time to expand lending more aggressively.”

Vic Santoro, Executive Vice President and Chief Financial Officer, stated, “Our third quarter results were very good, with $33.4 million in adjusted pre-tax earnings, a return on average assets of 1.16% and a return on average equity of over 11%.  Our net interest margin was 5.58%, being positively impacted by a strong loan yield and increasing DDA balances.  Credit quality trends remain positive and core deposit growth continues to be strong, generated both organically and through the APB acquisition.  The combination of these factors, along with our continued focus on controlling noninterest expenses, strengthens our balance sheet and allows us to pursue attractive growth and acquisition opportunities as they arise.”

4

YEAR TO DATE RESULTS

The net earnings for the nine months ended September 30, 2012 are relatively flat compared to the same period last year.  The 2012 period included $6.1 million of net earnings from our 2012 acquisitions.  Highlights are as follows:

·                  Higher net interest income of $8.0 million ($4.6 million after-tax) attributed mostly to a decrease in interest expense from both lower volume and rate of interest-bearing liabilities.

·                  Lower provision for credit losses of $30.9 million ($17.9 million after tax); the provision on non-covered loans is lower by $25.3 million ($14.7 million after tax) and the provision on covered loans is lower by $5.6 million ($3.2 million after tax).  These declines are due to improving credit quality.

·                  Other credit related costs and loss sharing contract activities reduced net earnings by $12.6 million ($7.3 million after tax); this amount includes lower FDIC loss sharing income of $9.2 million ($5.3 million after tax), higher net covered OREO expense of $3.8 million ($2.2 million after tax), and higher covered OTTI expense of $1.1 million ($647,000 after tax), offset by lower non-covered OREO expense of $1.5 million ($848,000 after tax).

·                  Noninterest income includes $1.8 million ($1.1 million after tax) related to gain on sale of leases and the gain on sale of the 10 branches; there were no such items in 2011.

·                  $22.6 million ($13.1 million after tax) of debt termination expense incurred in the first quarter of 2012 on the repayment of $225 million in fixed-rate term FHLB advances and the early redemption of $18.6 million in trust-preferred securities; there was no such item in 2011.

·                  $3.0 million ($1.7 million after tax) of acquisition and integration costs in 2012 related to the Company’s acquisition activity; there was no such item in 2011.

·                  Excluding debt termination costs, OREO costs, and acquisition and integration costs, noninterest expense increased $3.7 million ($2.1 million after tax) attributed mostly to higher compensation and overhead costs for the acquired operations offset by lower insurance assessments, lower CDI amortization expense, and lower other professional services expense.

·                  Lower tax expense of $1.3 million as the Company’s effective tax rate declined due to higher tax-free interest income and tax credits.

5

BALANCE SHEET CHANGES

Total assets increased $216.9 million during the third quarter due primarily to the APB acquisition.

At September 30, 2012, gross non-covered loans and leases totaled $3.1 billion and the covered loan portfolio was $567.4 million.  The gross non-covered loan and lease portfolio increased $206.2 million, due mainly to the addition of $197.3 million in loans from the APB acquisition.  When the acquired loans are excluded, organic non-covered loan and lease growth was $8.9 million.  This growth was a combination of new loans and leases and reductions due to (a) a sale of a $17.9 million classified loan at a slight discount and (b) refinancings of existing loans by other lenders.  During the third quarter, our regional presidents reported that loans having balances of $1.0 million or more refinanced by other lenders totaled approximately $77.0 million. We observed that the rates on these takeouts ranged from a low of 3.85% to a high of 5.00% and fixed terms ranged from a low of 5 years to a high of 30 years.  The pricing in the market for new loans continues to be irrational in our view.  The covered loan portfolio declined $41.6 million due to repayments and resolution activities.

Total liabilities increased $198.4 million during the third quarter due to the addition of deposits from the APB acquisition, offset by the deposit decline from the branch sale.  Total deposits increased $196.0 million during the third quarter to $4.8 billion at September 30, 2012.  Core deposits increased $198.7 million during the third quarter due mostly to increases of $134.5 million in noninterest-bearing demand deposits and $87.5 million in money market deposits.  Time deposits decreased $2.7 million during the third quarter to $862.3 million at September 30, 2012. At September 30, 2012, core deposits totaled $3.9 billion, or 82% of total deposits at that date.  Noninterest-bearing demand deposits were $2.0 billion at September 30, 2012 and represented 42% of total deposits at that date.  A summary of the change in deposits during the third quarter follows:

6

SECURITIES AVAILABLE-FOR-SALE

The following table presents the components, yields, and durations related to our securities available-for-sale portfolio as of the date indicated:

(1) The tax equivalent yield was 4.50% and 2.75% for municipal securities and total securities available for sale, respectively.

COVERED ASSETS

As part of the Los Padres and Affinity acquisitions we entered into loss sharing agreements with the FDIC that cover a substantial portion of losses incurred after the acquisition dates on covered loans and other real estate owned, and in the case of the Affinity acquisition, certain investment securities. A summary of covered assets is shown in the following table as of the dates indicated:

NET INTEREST INCOME

Net interest income increased by $2.4 million to $70.8 million for the third quarter of 2012 compared to $68.4 million for the second quarter of 2012.  This change was due to a $3.4 million increase in interest income on loans and leases, offset by a $1.2 million decrease in interest income on investment securities.  Interest income on loans and leases increased due to additional interest income from the APB portfolio, offset by lower accelerated accretion of discount resulting from covered loan payoffs.  Interest income on investment securities declined due

7

mainly to the call of $33.8 million in higher yield corporate debt securities in July 2012 and accelerated premium amortization on our government agency and government-sponsored enterprise pass through securities and collateralized mortgage obligations due to increased prepayment speeds in the third quarter.  Interest expense declined $125,000 due mostly to lower time deposit costs despite adding $219.6 million of deposits in the APB acquisition.

Net interest income increased by $8.0 million to $206.9 million during the nine months ended September 30, 2012 compared to $198.9 million for the same period last year. This change was due to a $10.0 million decrease in interest expense and a $1.8 million increase in interest on investment securities, offset by a $3.7 million decrease in loan and lease interest income.  Interest expense on deposits decreased $6.3 million due to lower rates on all interest-bearing deposits and lower average time deposits.  Interest expense on borrowings declined $2.9 million due to lower average borrowings and a lower average rate on such borrowings; we repaid fixed-rate term FHLB advances at the end of the first quarter of 2012 and replaced a portion of those advances with lower cost overnight FHLB advances that were repaid during the third quarter.  Interest expense on subordinated debentures decreased $779,000 due to the March 2012 redemption of $18.6 million in fixed-rate trust preferred securities.  Interest income on investment securities increased $1.8 million due to purchases.  Interest income on loans and leases declined due to lower average loans and leases from repayments and resolution activities, offset partially by a higher yield.  The higher loan and lease yield is attributed to the relatively higher yields earned on the Celtic and EQF loan and lease portfolios which were added in 2012.

NET INTEREST MARGIN

Our net interest margin (“NIM”) for the third quarter of 2012 was 5.58%, a decrease of 2 basis points from the 5.60% reported for the second quarter of 2012.

The NIM is impacted by changes in interest income from accelerated accretion of purchase discounts resulting from covered loan payoffs, nonaccrual loans, early lease payoffs, and amortization of premiums on certain purchased loans.  The effects of such items on the NIM and the calculation of our core NIM are shown in the following table:

8

The yield on average loans and leases increased 16 basis points to 7.44% for the third quarter of 2012 from 7.28% for the second quarter of 2012.  When the effects of accelerated accretion, nonaccrual loan interest, and early lease payoffs and premium amortization are excluded, our core loan and lease yield was 7.07% for the third quarter and 7.12% for the second quarter.

All-in deposit cost declined 2 basis points to 0.27% during the third quarter of 2012 compared to the second quarter of 2012.  The cost of interest-bearing deposits declined 3 basis points to 0.46% due to the lower rate on average time deposits.  The cost of total interest-bearing liabilities declined 2 basis points to 0.59% for the third quarter of 2012.

The NIM for the first nine months of 2012 was 5.53%, an increase of 18 basis points from 5.35% for the same period last year.  The increase was due to lower funding costs and a higher yield on loans and leases, offset by a lower return on the securities portfolio.  When the effects of accelerated accretion, nonaccrual loan interest, and early lease payoffs and premium amortization are excluded, our core NIMs were 5.34% and 5.10% for the nine months ended September 30, 2012 and 2011, respectively.

The yield on average loans and leases increased 39 basis points to 7.34% for the nine months ended September 30, 2012 compared to 6.95% for the same period last year, due mainly to the addition of Celtic’s and EQF’s higher-yielding loan and lease portfolios.  When the effects of accelerated accretion, nonaccrual loan interest, and early lease payoffs and premium amortization are excluded, our core loan and lease yields were 7.07% and 6.63% for the nine months ended September 30, 2012 and 2011, respectively.  All-in deposit cost declined 18 basis points to 0.30% for the first nine months of 2012 compared to the same period last year.  The cost of interest-bearing deposits declined 25 basis points to 0.49% due to lower rates on all interest-bearing deposits and a decline in time deposits.  The cost of total interest-bearing liabilities declined 34 basis points to 0.69% due to the reduction in the cost of interest-bearing deposits and the first quarter of 2012 repayment of $225.0 million in fixed-rate term FHLB advances and the redemption of $18.6 million in fixed-rate trust preferred securities.

NONINTEREST INCOME

Noninterest income increased by $811,000 to $5.7 million for the third quarter of 2012 compared to $4.9 million for the second quarter of 2012.  The change was due to a $1.1 million OTTI loss on one of our covered private label collateralized mortgage obligation (“CMO”) securities incurred in the second quarter and not repeated in the third quarter.  After the 80% loss share on the covered private label CMO, our share of the loss was $223,000.  Additionally, FDIC loss sharing expense is lower by $627,000 when the loss share income related to the OTTI is excluded.  We also recognized in other noninterest income a $297,000 gain on the sale of 10 branches to during the third quarter.  These items were offset by lower gains on sales of leases of $271,000 and lower service charges on deposit accounts of $220,000.

The third quarter includes net FDIC loss sharing expense of $367,000 compared to second quarter net FDIC loss sharing expense of $102,000; such change was due mostly to the second quarter OTTI loss on a covered private label CMO security and higher write-offs of the FDIC

9

loss sharing asset relating to resolution of covered loans at amounts higher than their carrying values, offset by higher covered OREO write-downs during the third quarter.  The reduction in service charges on deposit accounts was attributable primarily to lower analysis charges and NSF fees.

The following table presents the details of FDIC loss sharing income (expense), net for the periods indicated:

(1) Includes increases related to covered loan loss provisions and decreases for write-offs for covered loans resolved or expected to be resolved at amounts higher than their carrying value.

Noninterest income declined by $9.4 million to $13.8 million for the nine months ended September 30, 2012 compared to $23.2 million for the same period last year.  The change was due principally to a decrease in net FDIC loss sharing income of $9.2 million, a $1.1 million OTTI loss on one of our covered private label CMO’s, and a $714,000 reduction in service charges on deposit accounts, offset partially by a $1.5 million gain on sale of leases attributable to EQF.  FDIC loss sharing income, net, decreased due mainly to lower provisions for credit losses on covered loans, increased write-offs of the FDIC loss sharing asset relating to resolution of covered loans at amounts higher than their carrying values, and higher amortization of the FDIC loss sharing asset, offset partially by higher covered OREO write-downs.

NONINTEREST EXPENSE

Noninterest expense increased by $4.1 million to $51.7 million during the third quarter of 2012 compared to $47.6 million for the second quarter of 2012.  Noninterest expense for APB’s operations totaled $718,000 since the August 1, 2012 acquisition date.  Covered OREO expense increased $2.2 million due to higher write-downs of $2.5 million offset by higher gains on sales of $309,000.  Non-covered OREO expense increased $1.8 million due to $2.5 million in higher write-downs offset by higher gains on sales of $709,000.  Acquisition and integration costs increased $1.2 million due to the APB acquisition.  Such costs include severance, systems conversion and professional fees, and accruals for the closures of Pacific Western Bank offices at the time of the APB acquisition.  Partially offsetting these items was a decrease in other expense relating to a lawsuit settlement of $595,000 incurred in the second quarter; there was no similar expense in the third quarter.

10

Noninterest expense includes (a) amortization of time-based restricted stock, which is included in compensation, and (b) intangible asset amortization.  Amortization of restricted stock totaled $1.4 million and $1.3 million for the third and second quarters of 2012, respectively.  Intangible asset amortization totaled $1.7 million for each of the third and second quarters of 2012.

Noninterest expense increased by $31.6 million to $168.1 million during the nine months ended September 30, 2012 compared to $136.5 million for the same period last year.  The increase was due mostly to $22.6 million in debt termination expense incurred in the first quarter of 2012 for the early repayments of FHLB advances and trust preferred securities.  No such expense was incurred in the prior year period.  Excluding the debt termination expense, noninterest expense increased $9.0 million.  Noninterest expense for APB, Celtic and EQF totaled $10.2 million since their acquisition dates, and the increase in acquisition and integration costs totaled $3.0 million.  Covered OREO expense increased $3.8 million due mostly to lower gains on sales of $4.9 million offset by lower write-downs of $909,000.  The majority of the other expense categories declined.  The following items are net of the impact of acquisition activity.  Intangible asset amortization declined $1.8 million due to certain intangibles being fully amortized.  Insurance and assessments decreased $1.6 million due to the revised deposit insurance assessment formula.  Non-covered OREO expense decreased $1.5 million due to higher gains on sales of $1.2 million and lower write-downs of $536,000.  Other professional services declined $1.2 million due to lower legal fees for litigation and loans and to lower fees for our outsourced internal audit function.

Amortization of restricted stock totaled $4.3 million and $6.2 million for the nine months ended September 30, 2012 and 2011, respectively.  Intangible asset amortization totaled $5.2 million and $6.6 million for the same year-to-date periods, respectively.

CREDIT QUALITY

(1) Classified loans and leases are those with a credit risk rating of substandard or doubtful.

11

Our non-covered loans and leases include $341.2 million in loans and leases acquired in our 2012 acquisitions and that were initially recorded at their estimated fair values.  Only $350,000 of our allowance for credit losses applies to such loans and leases because the fair value amounts at which they were initially recorded included an estimate of their credit loss.  When these loans and leases are excluded from the total of non-covered loans and leases, the coverage ratio of our allowance for credit losses increases to 2.76% at September 30, 2012.  The comparable ratio at June 30, 2012 was 2.91%.

Credit Loss Provisions

The Company recorded a negative provision for credit losses of $2.1 million in the third quarter of 2012 compared to a negative provision for credit losses of $271,000 in the second quarter of 2012.  The provision in the third quarter was composed of a $2.0 million negative provision for credit losses on non-covered loans and leases and a $141,000 negative provision for credit losses on covered loans. The negative provision in the second quarter was composed solely of a $271,000 negative provision for credit losses on covered loans.

The provision level on the non-covered portfolio is generated by our allowance methodology and reflects net charge-offs, the levels of nonaccrual and classified loans and leases, the migration of loans and leases into various risk classifications, and the level of outstanding loans and leases.  The provision or negative provision for credit losses on the covered loans increases or decreases the covered loan allowance for credit losses and results from decreases or increases in expected cash flows on covered loans compared to those previously estimated.

Non-covered Nonaccrual Loans and Other Real Estate Owned

Non-covered nonperforming assets include non-covered nonaccrual loans and leases and non-covered OREO and totaled $74.3 million at September 30, 2012 compared to $94.5 million at June 30, 2012.  The ratio of non-covered nonperforming assets to non-covered loans and leases and non-covered OREO decreased to 2.41% at September 30, 2012 from 3.27% at June 30, 2012.

12

The following table presents our non-covered nonaccrual loans and leases and accruing loans and leases past due between 30 and 89 days by portfolio segment and class as of the dates indicated:

(1) Excludes covered loans.

The $15.8 million decrease in non-covered nonaccrual loans and leases during the third quarter was attributable to (a) additions of $5.5 million, (b) foreclosures of $1.7 million, (c) other reductions, payoffs and returns to accrual status of $17.7 million, and (d) charge-offs of $1.9 million.

13

Below is a summary of the ten largest lending relationships on nonaccrual status, excluding SBA-related loans, as of the date indicated:

(1) On nonaccrual status at June 30, 2012

14

The following table presents the details of non-covered and covered OREO as of the dates indicated:

The following table presents non-covered and covered OREO activity for the period indicated:

(1) Represents amounts due to participants and for guarantees, property taxes or any other prior lien positions.

REGULATORY CAPITAL MEASURES ARE ABOVE THE WELL-CAPITALIZED MINIMUMS

PacWest and its wholly-owned banking subsidiary, Pacific Western Bank, each remained well capitalized as of the date indicated as shown in the following table:

15

AMERICAN PERSPECTIVE BANK ACQUISITION

On August 1, 2012, Pacific Western Bank completed the acquisition of American Perspective Bank (“APB”) and acquired all of the outstanding common stock and restricted stock of APB for $58.1 million in cash, or $13.00 per share for each share of common stock of American Perspective.  APB had two operating branches located in San Luis Obispo and Santa Maria, California, and a loan production office located in Paso Robles, California.  Immediately following the completion of the acquisition, APB was merged with and into Pacific Western Bank.

SALE OF BRANCHES

On September 21, 2012, Pacific Western Bank completed the sale of 10 branches to Opus Bank. The branches are located in Los Angeles, San Bernardino, Riverside, and San Diego Counties. The transaction resulted in the transfer of deposits to Opus Bank in exchange for a blended deposit premium of 2.5% applied to the deposit balances transferred at closing.  The deposits of the offices sold totaled $125.2 million.  Although certain other immaterial assets related to the branches were included in the transaction, no loans were transferred.  The annual cost savings, representing noninterest expense less noninterest income, are estimated to be $2.0 million after tax.

ABOUT PACWEST BANCORP

PacWest Bancorp (“PacWest”) is a bank holding company with $5.5 billion in assets as of September 30, 2012, with one wholly-owned banking subsidiary, Pacific Western Bank (“Pacific Western”). Through 66 full-service community banking branches, Pacific Western provides commercial banking services, including real estate, construction and commercial loans, to small and medium-sized businesses. Pacific Western’s branches are located throughout California in Los Angeles, Orange, Riverside, San Bernardino, Santa Barbara, San Diego, San Francisco, San Luis Obispo, San Mateo and Ventura Counties.  Through its subsidiaries, BFI Business Finance and Celtic Capital Corporation, and its divisions First Community Financial and Pacific Western Equipment Finance, Pacific Western also provides working capital financing and equipment leasing to growing companies located throughout the United States, with a focus on the Southwestern U.S., primarily in Arizona, California, Utah and Texas. Additional information regarding PacWest Bancorp is available on the Internet at www.pacwestbancorp.com.  Information regarding Pacific Western Bank is also available on the Internet at www.pacificwesternbank.com.

FORWARD-LOOKING STATEMENTS

This press release contains certain forward-looking information about PacWest that is intended to be covered by the safe harbor for “forward-looking statements” provided by the Private Securities Litigation Reform Act of 1995. All statements other than statements of historical fact are forward-looking statements. Such statements involve inherent risks and uncertainties, many of which are difficult to predict and are generally beyond the control of the Company. We

16

caution readers that a number of important factors could cause actual results to differ materially from those expressed in, implied or projected by, such forward-looking statements. Risks and uncertainties include, but are not limited to: failure to obtain regulatory or other required approvals; an inability to achieve expected cost savings in the amounts or timeframes discussed if at all, or the costs associated with the transaction or the time needed to complete the transaction being greater than expected;  lower than expected revenues; credit quality deterioration or a reduction in real estate values could cause an increase in the allowance for credit losses and a reduction in net earnings; increased competitive pressure among depository institutions; the Company’s ability to complete future acquisitions, successfully integrate such acquired entities, or achieve expected beneficial synergies and/or operating efficiencies within expected time-frames or at all; settlements with the FDIC related to our loss-sharing arrangements from the Los Padres Bank and Affinity Bank acquisitions; the possibility that personnel changes will not proceed as planned; the cost of additional capital is more than expected; a change in the interest rate environment reduces net interest margins; asset/liability repricing risks and liquidity risks; pending legal matters may take longer or cost more to resolve or may be resolved adversely to the Company; general economic conditions, either nationally or in the market areas in which the Company does or anticipates doing business, are less favorable than expected; environmental conditions, including natural disasters, may disrupt our business, impede our operations, negatively impact the values of collateral securing the Company’s loans and leases or impair the ability of our borrowers to support their debt obligations; the economic and regulatory effects of the continuing war on terrorism and other events of war, including the conflicts in the Middle East; legislative or regulatory requirements or changes adversely affecting the Company’s business; changes in the securities markets; regulatory approvals for any capital activities cannot be obtained on the terms expected or on the anticipated schedule; and, other risks that are described in PacWest’s public filings with the U.S. Securities and Exchange Commission (the “SEC”). If any of these risks or uncertainties materializes or if any of the assumptions underlying such forward-looking statements proves to be incorrect, PacWest’s results could differ materially from those expressed in, implied or projected by such forward-looking statements. PacWest assumes no obligation to update such forward-looking statements.

For a more complete discussion of risks and uncertainties, investors and security holders are urged to read PacWest Bancorp’s annual report on Form 10-K, quarterly reports on Form 10-Q and other reports filed by PacWest with the SEC.  The documents filed by PacWest with the SEC may be obtained at PacWest Bancorp’s website at www.pacwestbancorp.com or at the SEC’s website at www.sec.gov.  These documents may also be obtained free of charge from PacWest by directing a request to: PacWest Bancorp c/o Pacific Western Bank, 275 North Brea Boulevard, Brea, CA 92821.  Attention: Investor Relations. Telephone 714-671-6800.

17

PACWEST BANCORP AND SUBSIDIARIES

CONDENSED CONSOLIDATED BALANCE SHEETS

(Unaudited)

18

PACWEST BANCORP AND SUBSIDIARIES

CONDENSED CONSOLIDATED STATEMENTS OF EARNINGS

(Unaudited)