PACWEST BANCORP PACW Income Statement

Pacwest bancorp (PACW)

Income statement / Yearly

Dec'19	Dec'18	Dec'17	Dec'16	Dec'15	Dec'14	Dec'13	Dec'12	Dec'11	Dec'10	Dec'09
Net interest income:
Loans and leases
1,097,845	1,047,969	952,771	924,294	819,094	657,097	272,726	260,230	260,143	265,136	258,499
Investment securities
115,569	111,619	98,202	90,557	64,368	47,345	36,923	35,657	34,785	24,564	10,969
Deposits in financial institutions
6,479	2,082	1,543	1,061	476	333	265	228	356	584	406
Total interest income
1,219,893	1,161,670	1,052,516	1,015,912	883,938	704,775	309,914	296,115	295,284	290,284	269,874
Interest expense:
Deposits
148,460	80,140	45,694	31,512	41,503	27,332	7,868	13,271	20,649	26,237	31,916
Borrowings
26,961	11,985	3,638	2,259	554	496	537	2,656	7,071	9,126	15,497
Subordinated debentures
29,843	28,631	23,613	20,850	18,535	14,570	3,796	3,721	4,923	5,594	6,415
Total interest expense
205,264	120,756	72,945	54,621	60,592	42,398	12,201	19,648	32,643	40,957	53,828
Net interest income
1,014,629	1,040,914	979,571	961,291	823,346	662,377	297,713	276,467	262,641	249,327	216,046
Non-covered loans and leases
-	-	-	-	-	-	-	-	-	178,992	141,900
Covered loans
-	-	-	-	-	-	-	-	-	33,500	18,000
Provision for Loan, Lease, and Other Losses
22,000	45,000	57,752	65,729	45,481	11,499	-4,210	-12,819	26,570	212,492	159,900
Net interest income after provision for credit losses
992,629	995,914	921,819	895,562	777,865	650,878	301,923	289,286	236,071	36,835	56,146
Noninterest income:
Other commissions and fees
43,623	45,543	41,422	47,126	31,586	18,602	8,416	8,126	7,616	7,291	6,951
Leased equipment income
38,727	37,881	37,700	33,919	24,023	16,669	0	0	-	-	-
Service charges on deposit accounts
14,637	16,509	15,307	14,534	11,688	11,233	11,765	12,852	13,829	11,561	12,008
Gain (Loss) on Sale of Loans and Leases
1,114	4,675	6,197	909	373	601	1,791	2,767	-	-	-
Gain on sale of securities
25,445	8,176	-541	9,485	3,744	4,841	5,359	1,239	-	-	-
Other than Temporary Impairment Losses, Investments, Portion Recognized in Earnings, Net
-	-	-	-	-	-	-	1,115	-	874	-
FDIC loss sharing expense, net
-	-	-	8,917	18,246	31,730	26,172	10,070	7,776	22,784	16,314
Increase in cash surrender value of life insurance
-	-	-	-	-	-	-	-	1,443	1,440	1,579
Gain from Affinity acquisition
-	-	-	-	-	-	-	-	-	-	66,989
Other income
19,016	35,851	28,488	15,419	31,142	21,971	3,085	2,073	762	1,036	2,066
Total noninterest income
142,562	148,635	128,573	112,475	84,310	42,187	4,244	15,872	31,426	43,238	105,907
Noninterest expense:
Compensation
285,862	282,568	266,567	251,913	203,914	165,499	107,067	94,967	86,800	87,483	78,173
Occupancy
57,407	53,223	48,863	48,911	44,144	40,606	29,459	28,113	28,685	27,639	26,383
Data processing
27,556	27,225	26,575	24,356	18,617	14,618	9,494	9,120	8,964	8,538	6,946
Leased equipment depreciation
24,016	21,371	20,767	20,899	13,603	9,159	0	0	-	-	-
Covered other real estate owned, net
-	-	-	-	-	-	-	-	3,666	2,460	1,753
Amortization of Intangible Assets
18,726	22,506	14,240	16,517	9,410	6,268	5,402	6,326	8,428	9,642	9,547
Other professional services
17,803	21,952	17,353	16,478	13,760	11,234	6,754	5,903	8,986	7,835	6,314
Business development
-	-	-	-	-	-	-	-	2,321	2,463	2,541
Communications
-	-	-	-	-	-	-	-	3,011	3,329	2,932
Insurance and assessments
16,404	20,705	19,733	18,364	16,996	10,907	5,596	5,284	7,171	9,685	9,305
Customer related expense
13,839	10,353	8,297	-	-	-	-	-	-	-	-
Loan expense
12,931	10,569	13,832	9,371	6,064	-	-	-	-	-	-
Acquisition, integration and reorganization costs
349	1,770	19,735	200	21,247	101,016	40,812	4,089	600	732	600
Foreclosed assets expense (income), net
3,555	751	-1,702	-1,881	668	-5,401	1,503	10,931	7,010	12,310	21,569
Debt termination
-	-	-	-	-	-	-	-22,598	-	2,660	-
Other expense
30,913	39,741	37,997	41,211	34,952	40,884	25,084	24,331	14,351	14,027	13,141
Total noninterest expense
502,251	511,232	495,661	450,101	382,039	405,592	228,165	211,662	179,993	188,803	179,204
Earnings (loss) before income taxes
632,940	633,317	554,731	557,936	480,136	287,473	78,002	93,496	-	-	-
Income tax expense
164,304	167,978	196,913	205,770	180,517	117,005	32,525	36,695	36,800	-46,714	-7,801
Net earnings from continuing operations
-	-	-	-	-	170,468	45,477	56,801	50,704	-	-
Net income before income taxes
-	-	-	-	-	-	-	-	87,504	-108,730	-17,151
Loss from discontinued operations before taxes
-	-	-	-	-	-2,677	-620	0	-	-	-
Income tax benefit
-	-	-	-	-	-1,114	-258	0	-	-	-
Net loss from discontinued operations
-	-	-	-	-	-1,563	-362	0	-	-	-
Net Income (Loss) Attributable to Parent
468,636	465,339	357,818	352,166	299,619	168,905	45,115	56,801	50,704	-62,016	-9,350
Earnings (loss) per share:
Net earnings from continuing operations (usd per share)
-	-	-	-	-	1.94	1.09	1.54	1.37	-	-
Basic (usd per share)
3.90	3.72	2.91	2.90	2.79	1.92	1.08	1.54	1.37	-1.77	-0.30
Net earnings from continuing operations (usd per share)
-	-	-	-	-	1.94	1.09	1.54	1.37	-	-
Diluted (usd per share)
3.90	3.72	2.91	2.90	2.79	1.92	1.08	1.54	1.37	-1.77	-0.30
Dividends declared per share (usd per share)
2.40	2.30	2.00	2.00	2.00	1.25	1.00	0.79	0.21	0.04	-