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PACWEST BANCORP   FYE=12 (December)

Annual - Income Statement - Company Specific

Fiscal period2020201920182017201620152014201320122011
Period End Date12/31/202012/31/201912/31/201812/31/201712/31/201612/31/201512/31/201412/31/201312/31/201212/31/2011
Interest and fees on loans993.141,097.851,047.97952.77924.29819.09657.10272.73260.23260.14
Interest on investment securities106.77115.57111.6298.2090.5664.3747.3536.9235.6634.79
Interest on deposits in financial institutions3.586.482.081.541.060.480.330.270.230.36
Interest on Federal funds sold--------------------
Total Interest Income1,103.491,219.891,161.671,052.521,015.91883.94704.78309.91296.12295.28
Interest expense : Deposits59.66148.4680.1445.6931.5141.5027.337.8713.2720.65
Interest expense : Borrowings8.1626.9611.993.642.260.550.500.542.667.07
Interest expense : Subordinated debentures21.1129.8428.6323.6120.8518.5414.573.803.724.92
Interest expense on trust preferred securities--------------------
Total interest expense88.93205.26120.7672.9554.6260.5942.4012.2019.6532.64
Net Interest Income1,014.561,014.631,040.91979.57961.29823.35662.38297.71276.47262.64
Provision for credit losses339.0022.0045.0057.7565.7345.4811.50(4.21)(12.82)26.57
Net interest income after provision for credit losses675.56992.63995.91921.82895.56777.87650.88301.92289.29236.07
Other commissions and fees40.3543.6245.5441.4247.1331.5918.608.428.137.62
Service charges and fees on deposit accounts10.3514.6416.5115.3114.5311.6911.2311.7712.8513.83
Gain on sale of securities13.1725.458.18(0.54)9.493.744.845.361.24--
Gain (loss) on sale of loans, net2.141.114.686.20--0.370.60--2.77--
SBA loan servicing fees--------------------
Merchant discount fees, net--------------------
Other non-interest (loss) income--------------3.09----
Other income36.4219.0235.8528.4915.4231.1421.97--2.070.76
Increase in cash surrender value of life insurance------------------1.44
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)7.78
Other-than-remporary impairment loss on securities----------------(1.12)--
Leased equipment income43.6338.7337.8837.7033.9224.0216.670.000.00--
Gain (Loss) on sale of leases--------0.91----------
Total Non Interest Income146.06142.56148.64128.57112.4884.3142.194.2415.8731.43
Compensation271.49285.86282.57266.57251.91203.91165.50107.0794.9786.80
Salaries and employee benefits--------------------
Advertising--------------------
Business development------------------2.32
Occupancy57.5657.4153.2248.8648.9144.1440.6129.4628.1128.69
Insurance and assessments22.6316.4020.7119.7318.3617.0010.915.605.287.17
FDIC assessment----------(0.67)--------
Leased equipment depreciation------20.77--13.609.16------
Goodwill impairment1,470.000.000.00--------------
Goodwill amortization--------------------
Goodwill write-off--------------------
Intangible asset amortization14.7518.7322.5114.2416.529.416.275.406.338.43
Real estate owned and property held-for-sale--------------------
Reorganization charges--------------------
Merger costs--------------------
Acquisition costs1.060.351.7719.740.2021.25101.0240.814.090.60
Other40.0030.9139.7438.0041.2134.9540.8825.0824.3314.35
Communications------------------3.01
Loan expense13.4512.9310.5713.839.376.06--------
Data processing26.7827.5627.2326.5824.3618.6214.629.499.128.96
Stationery, supplies and printing--------------------
Furniture and equipment--------20.90----------
Other professional services19.9217.8021.9517.3516.4813.7611.236.755.908.99
Legal expenses28.8724.0221.378.30------------
Loss on sale of securities--------------------
Cost of other real estate owned--------------------
Non-covered other real estate owned, net------------------7.01
Covered other real estate owned, net------------------3.67
Debt termination----------------22.60--
Foreclosed assets expense (Income)(0.02)(3.56)(0.75)1.701.88--5.40(1.50)10.93--
Customer related expense17.5313.8410.35--------------
Total Non-Interest expense1,984.02502.25511.23495.66450.10382.04405.59228.17211.66179.99
Earnings before income taxes and cumulative effect of accounting change(1,162.40)632.94633.32554.73557.94480.14287.4778.0093.5087.50
Income taxes75.17164.30167.98196.91205.77180.52117.0132.5336.7036.80
Current income taxes : Federal78.16113.81100.4774.77101.53(11.95)(14.61)32.11(24.18)(15.13)
Current income taxes : State27.5334.5869.9138.9352.55(28.17)(10.82)7.67(1.83)(9.56)
Deferred income taxes : Federal(28.74)5.064.7563.4655.86(128.44)(70.66)(9.10)(2.55)(11.73)
Deferred income taxes : State(1.78)10.86(7.14)19.75(4.17)(11.96)(19.80)1.59(8.14)(0.38)
Net earnings from continuing operations------------170.4745.4856.8050.70
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)(1,237.57)468.64465.34357.82352.17299.62168.9245.13----
Less: earnings allocated to unvested restricted stock1.785.185.124.183.992.891.961.10----
Net income (loss) available to common shareholders(1,239.36)463.45460.22353.63348.18296.73166.9644.0356.8050.70
EPS (Basic) : Net earnings before accounting change------------1.941.091.541.37
EPS (Basic) : Net earnings from discontinued operations--------------(0.01)----
EPS (Basic) : Accounting change--------------------
Net Earnings Per Share (Basic)(10.61)3.903.722.912.902.791.921.081.541.37
EPS (Diluted) : Net earnings before accounting change------------1.941.091.541.37
EPS (Diluted) : Net earnings from discontinued operations--------------(0.01)----
EPS (Diluted) : Accounting change--------------------
Net Earnings Per Share (Diluted)(10.61)3.903.722.912.902.791.921.081.541.37
Weighted Average Shares Outstanding (Basic)116.85118.97123.64121.61120.24106.3386.8540.8235.6935.49
Weighted Average Shares Outstanding (Diluted)116.85118.97123.64121.61120.24106.3386.8540.8235.6935.49