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PacWest Bancorp Announces Quarterly Dividend

LOS ANGELES, Feb. 16, 2011 (GLOBE NEWSWIRE) -- The Board of Directors of PacWest Bancorp (Nasdaq:PACW) declared today a quarterly cash dividend of $0.01 per common share. The cash dividend is payable on March 15, 2011 to stockholders of record at the close of business on February 28, 2011.

ABOUT PACWEST BANCORP

PacWest Bancorp is a bank holding company with $5.5 billion in assets as of December 31, 2010, with one wholly-owned banking subsidiary, Pacific Western Bank. Through 77 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 California branches are located in Los Angeles, Orange, Riverside, San Bernardino, San Diego, San Francisco, San Mateo, Santa Barbara, San Luis Obispo and Ventura Counties. Pacific Western also has a branch in Maricopa County Arizona. Through its subsidiary BFI Business Finance and its division First Community Financial, Pacific Western also provides working capital financing to growing companies located throughout the Southwest, primarily in the states of Arizona, California 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 .

CONTACT: Matthew P. Wagner
         Chief Executive Officer
         10250 Constellation Boulevard
         Suite 1640
         Los Angeles, CA 90067
         Phone: 310-728-1020
         Fax:   310-201-0498
         
         Victor R. Santoro
         Executive Vice President and
         Chief Financial Officer
         10250 Constellation Boulevard
         Suite 1640
         Los Angeles, CA 90067
         Phone: 310-728-1021
         Fax:   310-201-0498

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