Pacwest bancorp (PACW)
Income statement / Quarterly
Mar'20Dec'19Sep'19Jun'19Mar'19Dec'18Sep'18Jun'18Mar'18Dec'17Sep'17Jun'17Mar'17Dec'16Sep'16Jun'16Mar'16Dec'15Sep'15Jun'15Mar'15Dec'14Sep'14Jun'14Mar'14Dec'13Sep'13Jun'13Mar'13Dec'12Sep'12Jun'12Mar'12Dec'11Sep'11Jun'11Mar'11Sep'10Jun'10
Net interest income:
Loans and leases

262,278

263,402

275,978

284,236

274,229

272,522

264,062

260,300

251,085

258,309

235,666

234,618

224,178

238,223

225,370

224,326

236,375

219,677

193,539

203,781

202,097

197,472

189,961

192,201

77,463

73,352

75,196

63,168

61,010

65,455

66,711

63,312

64,752

61,684

63,347

68,331

66,781

68,480

62,314

Investment securities

27,446

28,135

28,806

28,948

29,680

29,690

28,061

27,730

26,138

25,712

24,762

24,689

23,039

23,403

22,187

22,420

22,547

23,648

13,955

14,570

12,195

12,205

12,331

11,986

10,823

10,422

9,871

8,414

8,216

8,173

8,346

9,558

9,580

9,107

9,077

8,782

7,819

6,519

5,702

Deposits in financial institutions

1,608

2,056

2,424

1,349

650

527

519

484

552

576

538

237

192

147

298

308

308

172

178

104

22

19

64

176

74

82

91

49

43

74

66

20

68

122

94

83

57

131

245

Total interest income

291,332

293,593

307,208

314,533

304,559

302,739

292,642

288,514

277,775

284,597

260,966

259,544

247,409

261,773

247,855

247,054

259,230

243,497

207,672

218,455

214,314

209,696

202,356

204,363

88,360

83,856

85,158

71,631

69,269

73,702

75,123

72,890

74,400

70,913

72,518

77,196

74,657

75,130

68,261

Interest expense:
Deposits

28,247

34,802

40,703

38,720

34,235

28,834

21,121

16,367

13,818

14,041

13,071

10,205

8,377

7,369

7,247

7,823

9,073

9,391

10,400

11,233

10,479

9,972

8,822

7,313

1,225

1,450

1,692

2,077

2,649

3,039

3,292

3,336

3,604

4,103

5,072

5,518

5,956

6,375

6,945

Borrowings

6,778

5,189

6,852

7,210

7,710

4,602

3,814

2,649

920

1,366

188

1,066

1,018

631

695

352

581

159

72

88

235

144

74

199

79

86

108

199

144

228

210

293

1,925

1,782

1,782

1,763

1,744

2,129

2,216

Subordinated debentures

6,560

6,983

7,417

7,705

7,738

7,538

7,390

7,166

6,537

6,234

6,017

5,800

5,562

5,468

5,278

5,122

4,982

4,748

4,680

4,582

4,525

4,597

4,614

4,318

1,041

1,062

1,069

882

783

832

850

848

1,191

1,255

1,223

1,226

1,219

1,459

1,483

Total interest expense

41,585

46,974

54,972

53,635

49,683

40,974

32,325

26,182

21,275

21,641

19,276

17,071

14,957

13,468

13,220

13,297

14,636

14,298

15,152

15,903

15,239

14,713

13,510

11,830

2,345

2,598

2,869

3,158

3,576

4,099

4,352

4,477

6,720

7,140

8,077

8,507

8,919

9,963

10,644

Net interest income

249,747

246,619

252,236

260,898

254,876

261,765

260,317

262,332

256,500

262,956

241,690

242,473

232,452

248,305

234,635

233,757

244,594

229,199

192,520

202,552

199,075

194,983

188,846

192,533

86,015

81,258

82,289

68,473

65,693

69,603

70,771

68,413

67,680

63,773

64,441

68,689

65,738

65,167

57,617

Non-covered loans and leases

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-10,000

-

0

5,500

7,800

17,050

14,100

Covered loans

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-4,333

-

-

3,926

4,122

348

5,890

2,910

6,500

7,825

Provision for Loan, Lease, and Other Losses

112,000

3,000

7,000

8,000

4,000

12,000

11,500

17,500

4,000

6,406

15,119

11,499

24,728

23,215

8,471

13,903

20,140

13,772

8,746

6,529

16,434

2,063

5,050

5,030

-644

-1,338

-4,167

-1,842

3,137

-4,333

-2,141

-271

-6,074

4,122

348

11,390

10,710

23,550

21,925

Net interest income after provision for credit losses

137,747

243,619

245,236

252,898

250,876

249,765

248,817

244,832

252,500

256,550

226,571

230,974

207,724

225,090

226,164

219,854

224,454

215,427

183,774

196,023

182,641

192,920

183,796

187,503

86,659

82,596

86,456

70,315

62,556

73,936

72,912

68,684

73,754

59,651

64,093

57,299

55,028

41,617

35,692

Noninterest income:
Other commissions and fees

9,721

10,170

10,855

11,590

11,008

11,114

12,397

11,767

10,265

10,505

9,944

10,583

10,390

12,036

12,528

11,073

11,489

12,691

6,376

7,123

5,396

4,556

6,371

5,743

1,932

2,125

2,204

2,154

1,933

2,025

2,123

2,095

1,883

1,864

2,052

1,980

1,720

1,760

1,845

Leased equipment income

12,251

10,648

9,615

9,182

9,282

9,384

9,120

9,790

9,587

8,258

8,332

11,635

9,475

8,614

8,538

8,523

8,244

7,791

5,475

5,375

5,382

5,382

5,615

5,672

0

-

0

0

-

-

-

-

-

-

-

-

-

-

-

Service charges on deposit accounts

2,658

3,611

3,525

3,771

3,730

4,091

3,979

4,265

4,174

4,574

3,465

3,510

3,758

3,557

3,488

3,633

3,856

3,901

2,601

2,612

2,574

2,787

2,725

2,719

3,002

3,197

2,938

2,767

2,863

3,063

3,108

3,328

3,353

3,326

3,545

3,400

3,558

2,861

2,666

Gain (Loss) on Sale of Loans and Leases

87

23

765

326

0

0

0

106

4,569

1,988

2,848

649

712

119

157

388

245

183

27

163

0

7

973

-485

106

683

604

279

225

1,242

132

403

990

-

-

-

-

-

-

Gain on sale of securities

182

184

908

22,192

2,161

786

826

253

6,311

-3,329

1,236

1,651

-99

515

382

478

8,110

0

655

-186

3,275

0

0

89

4,752

-

5,222

0

-

-

-

-

-

-

-

-

-

-

-

Other than Temporary Impairment Losses, Investments, Portion Recognized in Earnings, Net

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

1,115

-

-

-

-

-

874

-

Gain (Loss) on Investments, Excluding Other than Temporary Impairments

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-272

5,222

0

409

1,239

-

-

-

-

-

-

-

-

-

FDIC loss sharing expense, net

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

6,502

2,415

4,291

4,449

5,107

4,399

4,360

7,415

8,525

11,430

-10,593

-7,032

-5,410

-3,137

-6,022

-367

-102

-3,579

2,667

963

5,316

-1,170

5,506

6,004

Increase in cash surrender value of life insurance

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

448

-

-

433

300

304

295

365

337

359

368

379

353

369

Other income

4,201

2,540

7,761

3,832

4,883

8,151

10,590

13,457

3,653

4,799

5,557

7,254

10,878

4,054

1,827

4,528

5,010

7,783

5,073

9,643

8,643

4,331

8,045

3,266

6,329

486

1,191

413

114

210

382

-33

250

60

224

176

302

279

173

Total noninterest income

29,100

27,176

33,429

50,893

31,064

33,526

36,912

39,638

38,559

26,795

31,382

35,282

35,114

28,895

26,920

22,121

34,539

28,058

15,758

19,623

20,871

12,703

16,314

8,479

4,691

-3,926

5,127

203

2,840

2,057

5,682

4,871

3,262

8,254

7,143

11,240

4,789

9,885

11,057

Noninterest expense:
Compensation

61,282

74,637

71,424

68,956

70,845

69,299

72,333

69,913

71,023

71,986

64,413

65,288

64,880

66,013

62,661

62,174

61,065

58,992

48,152

49,033

47,737

45,930

45,861

45,081

28,627

27,697

27,963

26,057

25,350

23,269

23,812

23,699

24,187

21,597

21,557

21,717

21,929

23,060

21,068

Accelerated vesting of restricted stock

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

12,420

-

-

-

-

-

-

-

-

-

-

-

-

-

Occupancy

14,207

14,541

14,089

14,457

14,320

13,356

13,069

13,575

13,223

12,715

12,729

11,811

11,608

12,076

12,010

12,193

12,632

12,194

10,762

10,588

10,600

10,745

11,188

11,078

7,595

7,553

7,828

7,480

6,598

6,773

6,964

7,088

7,288

7,137

7,423

7,142

6,983

6,872

6,576

Data processing

6,454

6,770

7,044

6,817

6,925

6,930

6,740

6,896

6,659

6,764

6,459

6,337

7,015

6,574

6,234

5,644

5,904

5,585

4,322

4,402

4,308

4,050

3,929

4,099

2,540

2,216

2,590

2,455

2,233

2,272

2,310

2,258

2,280

2,132

2,228

2,129

2,475

2,121

1,892

Total operating expenses

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

51,170

46,233

-

-

-

-

-

-

-

-

-

-

-

Leased equipment depreciation

7,205

6,856

5,951

5,558

5,651

5,758

5,001

5,237

5,375

5,048

4,862

5,232

5,625

5,291

5,298

5,286

5,024

4,235

3,162

3,103

3,103

3,103

2,961

3,095

0

-

0

0

-

-

-

-

-

-

-

-

-

-

-

Covered other real estate owned, net

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-594

-

-

-813

-461

4,290

2,130

822

226

4,813

1,205

-2,578

-319

-89

Amortization of Intangible Assets

3,948

4,153

4,833

4,870

4,870

4,986

5,587

5,587

6,346

5,062

3,049

3,065

3,064

3,176

4,224

4,371

4,746

4,910

1,497

1,502

1,501

1,619

1,608

1,677

1,364

1,430

1,512

1,284

1,176

1,176

1,678

1,737

1,735

1,836

1,977

2,308

2,307

2,434

2,424

Other professional services

4,258

4,261

4,400

4,629

4,513

6,198

6,058

5,257

4,439

5,786

4,213

3,976

3,378

4,880

4,625

3,401

3,572

3,811

3,396

3,332

3,221

3,181

3,687

2,843

1,523

2,314

1,906

1,599

2,097

2,200

2,019

2,378

1,770

1,946

2,239

2,505

2,296

2,694

2,042

Business development

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

992

-

-

736

684

635

581

638

609

548

595

569

571

655

Communications

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

860

-

-

613

637

652

626

608

640

678

834

859

811

795

Insurance and assessments

4,249

4,168

4,100

4,098

4,038

4,202

5,446

5,330

5,727

5,384

4,702

4,856

4,791

4,124

4,324

4,951

4,965

5,450

3,805

4,716

3,025

3,115

3,020

3,179

1,593

1,572

1,496

1,267

1,261

1,270

1,398

1,323

1,293

1,590

1,641

1,603

2,337

2,431

2,611

Customer related expense

3,932

3,952

-

-

2,943

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Loan expense

2,650

2,967

3,628

3,451

2,885

2,991

2,249

3,058

2,271

3,140

3,421

3,884

3,387

-

1,931

2,145

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Acquisition, integration and reorganization costs

0

-269

0

0

618

970

800

0

0

16,085

1,450

1,700

500

0

0

0

200

17,600

747

900

2,000

7,381

5,193

86,242

2,200

4,253

5,450

17,997

692

1,092

2,101

871

25

600

-

-

-

-

-

Foreclosed assets expense (income), net

-66

3,446

-8

146

-29

311

257

61

122

475

-2,191

157

-143

-2,693

248

3

561

3,185

-4,521

2,340

-336

1,938

4,827

497

-1,861

25

-420

-14

313

316

1,883

130

1,821

1,714

2,293

2,300

703

2,151

625

Goodwill, Impairment Loss

1,470,000

0

-

-

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Debt termination

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-45,196

0

0

22,598

-

-

-

-

-

-

Other expense

9,719

5,138

11,332

12,737

8,650

14,856

11,127

11,657

12,454

11,373

11,053

11,715

12,153

13,795

9,651

9,919

13,141

12,672

9,775

10,040

8,529

10,243

12,649

11,409

6,583

5,350

7,875

6,091

3,927

4,297

3,915

4,764

3,830

3,442

3,190

4,200

3,519

3,348

4,174

Total noninterest expense

1,587,970

123,728

126,809

125,427

126,287

129,235

128,153

126,449

127,395

142,868

118,542

117,707

116,544

118,622

110,710

110,081

110,688

122,264

90,139

85,276

84,360

91,305

94,923

169,200

50,164

66,088

56,200

64,216

44,183

43,525

51,657

47,585

68,895

43,469

48,587

46,538

41,399

46,174

42,773

Earnings (loss) before income taxes

-1,421,123

147,067

151,856

178,364

155,653

154,056

157,576

158,021

163,664

140,477

139,411

148,549

126,294

135,363

142,374

131,894

148,305

121,221

109,393

130,370

119,152

114,318

105,187

26,782

41,186

-

35,383

6,302

-

-

-

-

-

-

-

-

-

-

-

Income tax expense

11,988

29,186

41,830

50,239

43,049

39,015

41,289

42,286

45,388

56,440

37,945

54,902

47,626

49,716

48,479

49,726

57,849

49,380

39,777

45,287

46,073

43,261

42,911

15,552

15,281

9,135

11,243

1,906

7,719

12,576

10,849

10,413

2,857

10,553

9,345

9,160

7,742

1,828

1,271

Net earnings from continuing operations

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

71,057

62,276

11,230

25,905

3,447

-

-

13,494

-

16,088

15,557

-

-

-

-

-

-

-

Net income before income taxes

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

12,582

24,140

4,396

21,213

32,468

26,937

25,970

8,121

24,436

22,649

22,001

18,418

5,328

3,976

Loss from discontinued operations before taxes

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-105

-8

-1,151

-1,413

-578

39

-81

-

-

-

-

-

-

-

-

-

-

-

Income tax benefit

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-47

-3

-476

-588

-240

16

34

-

-

-

-

-

-

-

-

-

-

-

Net loss from discontinued operations

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-58

-5

-675

-825

-338

23

-47

-

-

-

-

-

-

-

-

-

-

-

Net Income (Loss) Attributable to Parent

-1,433,111

117,881

110,026

128,125

112,604

115,041

116,287

115,735

118,276

84,037

101,466

93,647

78,668

85,647

93,895

82,168

90,456

71,841

69,616

85,083

73,079

70,999

62,271

10,555

25,080

3,109

24,163

4,349

13,494

19,892

16,088

15,557

5,264

13,883

13,304

12,841

10,676

3,500

2,705

Earnings (loss) per share:
Net earnings from continuing operations (usd per share)

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0.69

0.60

0.11

0.57

0.07

0.53

0.11

0.37

-

0.43

0.42

-

-

-

-

-

-

-

Basic (usd per share)

-12.23

0.98

0.92

1.07

0.92

0.93

0.94

0.92

0.93

0.66

0.84

0.77

0.65

0.71

0.77

0.68

0.74

0.60

0.68

0.83

0.71

0.69

0.60

0.10

0.55

0.06

0.53

0.11

0.37

0.54

0.43

0.42

0.14

0.38

0.36

0.35

0.29

0.10

0.07

Net earnings from continuing operations (usd per share)

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0.69

0.60

0.11

0.57

0.07

0.53

0.11

0.37

-

0.43

0.42

-

-

-

-

-

-

-

Diluted (usd per share)

-12.23

0.98

0.92

1.07

0.92

0.93

0.94

0.92

0.93

0.66

0.84

0.77

0.65

0.71

0.77

0.68

0.74

0.60

0.68

0.83

0.71

0.69

0.60

0.10

0.55

0.06

0.53

0.11

0.37

0.54

0.43

0.42

0.14

0.38

0.36

0.35

0.29

0.10

0.07

Dividends declared per share (usd per share)

-

-

-

-

-

-

-

-

-

0.50

-

0.50

0.50

0.50

0.50

0.50

0.50

0.50

0.50

0.50

0.50

0.50

0.25

0.25

0.25

0.25

0.25

0.25

0.25

0.25

0.18

0.18

0.18

0.18

0.01

0.01

0.01

0.01

0.01