SAN DIEGO, Nov. 3, 2010 (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 November 30, 2010 to stockholders of record at the close of business on November 15, 2010. ABOUT PACWEST BANCORP PacWest Bancorp is a bank holding company with $5.7 billion in assets as of September 30, 2010, with one wholly-owned banking subsidiary, Pacific Western Bank. Through 82 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 in Los Angeles, Orange, Riverside, San Bernardino, San Diego, San Francisco, San Mateo and Ventura Counties. The branches of the recently acquired Los Padres Bank are located in Santa Barbara and San Luis Obispo counties in California and Maricopa County in 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: PacWest Bancorp Matt Wagner, Chief Executive Officer (310) 728-1020 Vic Santoro, Executive Vice President and CFO (310) 728-1021