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PACWEST BANCORP   FYE=12 (December)

Annual - Income Statement - Company Specific

Fiscal period2021202020192018201720162015201420132012
Period End Date12/31/202112/31/202012/31/201912/31/201812/31/201712/31/201612/31/201512/31/201412/31/201312/31/2012
Interest and fees on loans996.46993.141,097.851,047.97952.77924.29819.09657.10272.73260.23
Interest on investment securities153.47106.77115.57111.6298.2090.5664.3747.3536.9235.66
Interest on deposits in financial institutions8.803.586.482.081.541.060.480.330.270.23
Interest on Federal funds sold--------------------
Total Interest Income1,158.731,103.491,219.891,161.671,052.521,015.91883.94704.78309.91296.12
Interest expense : Deposits27.8159.66148.4680.1445.6931.5141.5027.337.8713.27
Interest expense : Borrowings0.628.1626.9611.993.642.260.550.500.542.66
Interest expense : Subordinated debentures26.4721.1129.8428.6323.6120.8518.5414.573.803.72
Interest expense on trust preferred securities--------------------
Total interest expense54.9188.93205.26120.7672.9554.6260.5942.4012.2019.65
Net Interest Income1,103.821,014.561,014.631,040.91979.57961.29823.35662.38297.71276.47
Provision for credit losses(162.00)339.0022.0045.0057.7565.7345.4811.50(4.21)(12.82)
Net interest income after provision for credit losses1,265.82675.56992.63995.91921.82895.56777.87650.88301.92289.29
Other commissions and fees42.2940.3543.6245.5441.4247.1331.5918.608.428.13
Service charges and fees on deposit accounts13.2710.3514.6416.5115.3114.5311.6911.2311.7712.85
Gain on sale of securities1.732.141.118.18(0.54)9.493.744.845.361.24
Gain (loss) on sale of loans, net1.6213.1725.454.686.20--0.370.60--2.77
SBA loan servicing fees--------------------
Merchant discount fees, net--------------------
Other non-interest (loss) income49.3410.618.67----------3.09--
Other income16.8210.8310.9135.8528.4915.4231.1421.97--2.07
Increase in cash surrender value of life insurance23.1214.98(0.57)--------------
Gain on sale of other real estate owned----------------1.79--
Gain from Affinity acquisition--------------------
Increase in FDIC loss sharing asset----------(8.92)(18.25)(31.73)(26.17)(10.07)
Other-than-remporary impairment loss on securities------------------(1.12)
Leased equipment income45.7543.6338.7337.8837.7033.9224.0216.670.000.00
Gain (Loss) on sale of leases----------0.91--------
Total Non Interest Income193.93146.06142.56148.64128.57112.4884.3142.194.2415.87
Compensation368.45271.49285.86282.57266.57251.91203.91165.50107.0794.97
Salaries and employee benefits--------------------
Advertising--------------------
Business development--------------------
Occupancy58.4257.5657.4153.2248.8648.9144.1440.6129.4628.11
Insurance and assessments17.3722.6316.4020.7119.7318.3617.0010.915.605.28
FDIC assessment------------(0.67)------
Leased equipment depreciation35.7628.8724.02--20.77--13.609.16----
Goodwill impairment0.001,470.000.000.00------------
Goodwill amortization--------------------
Goodwill write-off--------------------
Intangible asset amortization12.7314.7518.7322.5114.2416.529.416.275.406.33
Real estate owned and property held-for-sale--------------------
Reorganization charges--------------------
Merger costs--------------------
Acquisition costs------1.7719.740.2021.25101.0240.814.09
Other46.1940.0030.9139.7438.0041.2134.9540.8825.0824.33
Communications--------------------
Loan expense17.0313.4512.9310.5713.839.376.06------
Data processing30.2826.7827.5627.2326.5824.3618.6214.629.499.12
Stationery, supplies and printing--------------------
Furniture and equipment----------20.90--------
Other professional services21.4919.9217.8021.9517.3516.4813.7611.236.755.90
Legal expenses------21.378.30----------
Loss on sale of securities--------------------
Cost of other real estate owned--------------------
Non-covered other real estate owned, net--------------------
Covered other real estate owned, net--------------------
Debt termination------------------22.60
Accelerated vesting of restricted stock9.421.060.35--------------
Foreclosed assets expense (Income)(0.21)(0.02)(3.56)(0.75)1.701.88--5.40(1.50)10.93
Customer related expense20.5017.5313.8410.35------------
Total Non-Interest expense637.421,984.02502.25511.23495.66450.10382.04405.59228.17211.66
Earnings before income taxes and cumulative effect of accounting change822.33(1,162.40)632.94633.32554.73557.94480.14287.4778.0093.50
Income taxes215.3875.17164.30167.98196.91205.77180.52117.0132.5336.70
Current income taxes : Federal------100.4774.77101.53(11.95)(14.61)32.11(24.18)
Current income taxes : State------69.9138.9352.55(28.17)(10.82)7.67(1.83)
Deferred income taxes : Federal------4.7563.4655.86(128.44)(70.66)(9.10)(2.55)
Deferred income taxes : State------(7.14)19.75(4.17)(11.96)(19.80)1.59(8.14)
Net earnings from continuing operations--------------170.4745.4856.80
Net loss from discontinued operations--------------(1.55)(0.35)0.00
Net earnings before cumulative effect of accounting change--------------------
Cumulative effect on prior years of changing the method of accounting for stock-based compensation forfeitures--------------------
Consolidated Net Income (Loss)606.96(1,237.57)468.64465.34357.82352.17299.62168.9245.13--
Less: earnings allocated to unvested restricted stock10.251.785.185.124.183.992.891.961.10--
Net income (loss) available to common shareholders596.71(1,239.36)463.45460.22353.63348.18296.73166.9644.0356.80
EPS (Basic) : Net earnings before accounting change--------------1.941.091.54
EPS (Basic) : Net earnings from discontinued operations----------------(0.01)--
EPS (Basic) : Accounting change--------------------
Net Earnings Per Share (Basic)5.10(10.61)3.903.722.912.902.791.921.081.54
EPS (Diluted) : Net earnings before accounting change--------------1.941.091.54
EPS (Diluted) : Net earnings from discontinued operations----------------(0.01)--
EPS (Diluted) : Accounting change--------------------
Net Earnings Per Share (Diluted)5.10(10.61)3.903.722.912.902.791.921.081.54
Weighted Average Shares Outstanding (Basic)117.09116.85118.97123.64121.61120.24106.3386.8540.8235.69
Weighted Average Shares Outstanding (Diluted)117.09116.85118.97123.64121.61120.24106.3386.8540.8235.69