PACWEST BANCORP PACW Income Statement

Pacwest bancorp (PACW)

Income statement / TTM

Mar'20	Dec'19	Sep'19	Jun'19	Mar'19	Dec'18	Sep'18	Jun'18	Mar'18	Dec'17	Sep'17	Jun'17	Mar'17	Dec'16	Sep'16	Jun'16	Mar'16	Dec'15	Sep'15	Jun'15	Mar'15	Dec'14	Sep'14	Jun'14	Mar'14	Dec'13	Sep'13	Jun'13	Mar'13	Dec'12	Sep'12	Jun'12	Mar'12	Dec'11	Sep'11	Jun'11	Mar'11	Sep'10	Jun'10
Net interest income:
Loans and leases
1,085,894	1,097,845	1,106,965	1,095,049	1,071,113	1,047,969	1,033,756	1,005,360	979,678	952,771	932,685	922,389	912,097	924,294	905,748	873,917	853,372	819,094	796,889	793,311	781,731	657,097	532,977	418,212	289,179	272,726	264,829	256,344	256,488	260,230	256,459	253,095	258,114	260,143	266,939	265,906	0	0	0
Investment securities
113,335	115,569	117,124	116,379	115,161	111,619	107,641	104,342	101,301	98,202	95,893	93,318	91,049	90,557	90,802	82,570	74,720	64,368	52,925	51,301	48,717	47,345	45,562	43,102	39,530	36,923	34,674	33,149	34,293	35,657	36,591	37,322	36,546	34,785	32,197	28,822	0	0	0
Deposits in financial institutions
7,437	6,479	4,950	3,045	2,180	2,082	2,131	2,150	1,903	1,543	1,114	874	945	1,061	1,086	966	762	476	323	209	281	333	396	423	296	265	257	232	203	228	276	304	367	356	365	516	0	0	0
Total interest income
1,206,666	1,219,893	1,229,039	1,214,473	1,188,454	1,161,670	1,143,528	1,111,852	1,082,882	1,052,516	1,029,692	1,016,581	1,004,091	1,015,912	997,636	957,453	928,854	883,938	850,137	844,821	830,729	704,775	578,935	461,737	329,005	309,914	299,760	289,725	290,984	296,115	293,326	290,721	295,027	295,284	299,501	295,244	0	0	0
Interest expense:
Deposits
142,472	148,460	142,492	122,910	100,557	80,140	65,347	57,297	51,135	45,694	39,022	33,198	30,816	31,512	33,534	36,687	40,097	41,503	42,084	40,506	36,586	27,332	18,810	11,680	6,444	7,868	9,457	11,057	12,316	13,271	14,335	16,115	18,297	20,649	22,921	24,794	0	0	0
Borrowings
26,029	26,961	26,374	23,336	18,775	11,985	8,749	5,123	3,540	3,638	2,903	3,410	2,696	2,259	1,787	1,164	900	554	539	541	652	496	438	472	472	537	679	781	875	2,656	4,210	5,782	7,252	7,071	7,418	7,852	0	0	0
Subordinated debentures
28,665	29,843	30,398	30,371	29,832	28,631	27,327	25,954	24,588	23,613	22,847	22,108	21,430	20,850	20,130	19,532	18,992	18,535	18,384	18,318	18,054	14,570	11,035	7,490	4,054	3,796	3,566	3,347	3,313	3,721	4,144	4,517	4,895	4,923	5,127	5,387	0	0	0
Total interest expense
197,166	205,264	199,264	176,617	149,164	120,756	101,423	88,374	79,263	72,945	64,772	58,716	54,942	54,621	55,451	57,383	59,989	60,592	61,007	59,365	55,292	42,398	30,283	19,642	10,970	12,201	13,702	15,185	16,504	19,648	22,689	26,414	30,444	32,643	35,466	38,033	0	0	0
Net interest income
1,009,500	1,014,629	1,029,775	1,037,856	1,039,290	1,040,914	1,042,105	1,023,478	1,003,619	979,571	964,920	957,865	949,149	961,291	942,185	900,070	868,865	823,346	789,130	785,456	775,437	662,377	548,652	442,095	318,035	297,713	286,058	274,540	274,480	276,467	270,637	264,307	264,583	262,641	264,035	257,211	0	0	0
Non-covered loans and leases
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	-	30,350	44,450	0	0	0
Covered loans
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	-	-	14,286	13,270	15,648	23,125	0	0	0
Provision for Loan, Lease, and Other Losses
130,000	22,000	31,000	35,500	45,000	45,000	39,406	43,025	37,024	57,752	74,561	67,913	70,317	65,729	56,286	56,561	49,187	45,481	33,772	30,076	28,577	11,499	8,098	-1,119	-7,991	-4,210	-7,205	-5,179	-3,608	-12,819	-4,364	-1,875	9,786	26,570	45,998	67,575	0	0	0
Net interest income after provision for credit losses
879,500	992,629	998,775	1,002,356	994,290	995,914	1,002,699	980,453	966,595	921,819	890,359	889,952	878,832	895,562	885,899	843,509	819,678	777,865	755,358	755,380	746,860	650,878	540,554	443,214	326,026	301,923	293,263	279,719	278,088	289,286	275,001	266,182	254,797	236,071	218,037	189,636	0	0	0
Noninterest income:
Other commissions and fees
42,336	43,623	44,567	46,109	46,286	45,543	44,934	42,481	41,297	41,422	42,953	45,537	46,027	47,126	47,781	41,629	37,679	31,586	23,451	23,446	22,066	18,602	16,171	12,004	8,415	8,416	8,316	8,235	8,176	8,126	7,965	7,894	7,779	7,616	7,512	7,305	0	0	0
Leased equipment income
41,696	38,727	37,463	36,968	37,576	37,881	36,755	35,967	37,812	37,700	38,056	38,262	35,150	33,919	33,096	30,033	26,885	24,023	21,614	21,754	22,051	16,669	11,287	5,672	0	-	0	0	-	-	-	-	-	-	-	-	-	-	-
Service charges on deposit accounts
13,565	14,637	15,117	15,571	16,065	16,509	16,992	16,478	15,723	15,307	14,290	14,313	14,436	14,534	14,878	13,991	12,970	11,688	10,574	10,698	10,805	11,233	11,643	11,856	11,904	11,765	11,631	11,801	12,362	12,852	13,115	13,552	13,624	13,829	13,364	12,485	0	0	0
Gain (Loss) on Sale of Loans and Leases
1,201	1,114	1,091	326	106	4,675	6,663	9,511	10,054	6,197	4,328	1,637	1,376	909	973	843	618	373	197	1,143	495	601	1,277	908	1,672	1,791	2,350	1,878	2,002	2,767	0	0	0	-	-	-	-	-	-
Gain on sale of securities
23,466	25,445	26,047	25,965	4,026	8,176	4,061	4,471	5,869	-541	3,303	2,449	1,276	9,485	8,970	9,243	8,579	3,744	3,744	3,089	3,364	4,841	10,063	10,063	0	-	0	0	-	-	-	-	-	-	-	-	-	-	-
Other than Temporary Impairment Losses, Investments, Portion Recognized in Earnings, Net
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	-	-	-	-	-	0	-
Gain (Loss) on Investments, Excluding Other than Temporary Impairments
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	5,359	6,870	0	0	0	-	-	-	-	-	-	-	-	-
FDIC loss sharing expense, net
-	-	-	-	-	-	-	-	-	-	-	-	-	8,917	13,208	17,657	16,262	18,246	18,315	21,281	24,699	31,730	16,777	2,330	-11,605	-26,172	-21,601	-14,936	-9,628	-10,070	-1,381	-51	5,367	7,776	10,615	15,656	0	0	0
Increase in cash surrender value of life insurance
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	-	-	1,332	1,264	1,301	1,356	1,429	1,443	1,459	1,469	0	0	0
Other income
18,334	19,016	24,627	27,456	37,081	35,851	32,499	27,466	21,263	28,488	27,743	24,013	21,287	15,419	19,148	22,394	27,509	31,142	27,690	30,662	24,285	21,971	18,126	11,272	8,419	2,204	1,928	1,119	673	809	659	501	710	762	981	930	0	0	0
Total noninterest income
140,598	142,562	148,912	152,395	141,140	148,635	141,904	136,374	132,018	128,573	130,673	126,211	113,050	112,475	111,638	100,476	97,978	84,310	68,955	69,511	58,367	42,187	25,558	14,371	6,095	4,244	10,227	10,782	15,450	15,872	22,069	23,530	29,899	31,426	33,057	36,971	0	0	0
Noninterest expense:
Compensation
276,299	285,862	280,524	281,433	282,390	282,568	285,255	277,335	272,710	266,567	260,594	258,842	255,728	251,913	244,892	230,383	217,242	203,914	190,852	188,561	184,609	165,499	147,266	129,368	110,344	107,067	102,639	98,488	96,130	94,967	93,295	91,040	89,058	86,800	88,263	87,774	0	0	0
Accelerated vesting of restricted stock
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	-	-	-	-	-	-	-	-	-	-	-	-	-
Occupancy
57,294	57,407	56,222	55,202	54,320	53,223	52,582	52,242	50,478	48,863	48,224	47,505	47,887	48,911	49,029	47,781	46,176	44,144	42,695	43,121	43,611	40,606	37,414	34,054	30,456	29,459	28,679	27,815	27,423	28,113	28,477	28,936	28,990	28,685	28,420	27,573	0	0	0
Data processing
27,085	27,556	27,716	27,412	27,491	27,225	27,059	26,778	26,219	26,575	26,385	26,160	25,467	24,356	23,367	21,455	20,213	18,617	17,082	16,689	16,386	14,618	12,784	11,445	9,801	9,494	9,550	9,270	9,073	9,120	8,980	8,898	8,769	8,964	8,953	8,617	0	0	0
Total operating expenses
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	-	-	-	-	-	-	-	-	-	-	-
Leased equipment depreciation
25,570	24,016	22,918	21,968	21,647	21,371	20,661	20,522	20,517	20,767	21,010	21,446	21,500	20,899	19,843	17,707	15,524	13,603	12,471	12,270	12,262	9,159	6,056	3,095	0	-	0	0	-	-	-	-	-	-	-	-	-	-	-
Covered other real estate owned, net
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	-	-	5,146	6,781	7,468	7,991	7,066	3,666	3,121	-1,781	0	0	0
Amortization of Intangible Assets
17,804	18,726	19,559	20,313	21,030	22,506	22,582	20,044	17,522	14,240	12,354	13,529	14,835	16,517	18,251	15,524	12,655	9,410	6,119	6,230	6,405	6,268	6,079	5,983	5,590	5,402	5,148	5,314	5,767	6,326	6,986	7,285	7,856	8,428	9,026	9,473	0	0	0
Other professional services
17,548	17,803	19,740	21,398	22,026	21,952	21,540	19,695	18,414	17,353	16,447	16,859	16,284	16,478	15,409	14,180	14,111	13,760	13,130	13,421	12,932	11,234	10,367	8,586	7,342	7,916	7,802	7,915	8,694	8,367	8,113	8,333	8,460	8,986	9,734	9,537	0	0	0
Business development
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	-	-	2,636	2,538	2,463	2,376	2,390	2,321	2,283	2,390	0	0	0
Communications
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	-	-	2,528	2,523	2,526	2,552	2,760	3,011	3,182	3,299	0	0	0
Insurance and assessments
16,615	16,404	16,438	17,784	19,016	20,705	21,887	21,143	20,669	19,733	18,473	18,095	18,190	18,364	19,690	19,171	18,936	16,996	14,661	13,876	12,339	10,907	9,364	7,840	5,928	5,596	5,294	5,196	5,252	5,284	5,604	5,847	6,127	7,171	8,012	8,982	0	0	0
Customer related expense
0	0	-	-	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Loan expense
12,696	12,931	12,955	11,576	11,183	10,569	10,718	11,890	12,716	13,832	12,623	11,347	0	-	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Acquisition, integration and reorganization costs
-269	349	1,588	2,388	2,388	1,770	16,885	17,535	19,235	19,735	3,650	2,200	500	200	17,800	18,547	19,447	21,247	11,028	15,474	100,816	101,016	97,888	98,145	29,900	28,392	25,231	21,882	4,756	4,089	3,597	0	0	0	-	-	-	-	-
Foreclosed assets expense (income), net
3,518	3,555	420	685	600	751	915	-1,533	-1,437	-1,702	-4,870	-2,431	-2,585	-1,881	3,997	-772	1,565	668	-579	8,769	6,926	5,401	3,488	-1,759	-2,270	-96	195	2,498	2,642	4,150	5,548	5,958	8,128	7,010	7,447	5,779	0	0	0
Goodwill, Impairment Loss
0	0	-	-	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Debt termination
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-22,598	0	0	0	-	-	-	-	-	-
Other expense
38,926	37,857	47,575	47,370	46,290	50,094	46,611	46,537	46,595	46,294	48,716	47,314	45,518	46,506	45,383	45,507	45,628	41,016	38,587	41,461	42,830	40,884	35,991	31,217	25,899	23,243	22,190	18,230	16,903	16,806	15,951	15,226	14,662	14,351	14,257	15,241	0	0	0
Total noninterest expense
1,963,934	502,251	507,758	509,102	510,124	511,232	524,865	515,254	506,512	495,661	471,415	463,583	455,957	450,101	453,743	433,172	408,367	382,039	351,080	355,864	439,788	405,592	380,375	341,652	236,668	230,687	208,124	203,581	186,950	211,662	211,606	208,536	207,489	179,993	182,698	176,884	0	0	0
Earnings (loss) before income taxes
-943,836	632,940	639,929	645,649	625,306	633,317	619,738	601,573	592,101	554,731	549,617	552,580	535,925	557,936	543,794	510,813	509,289	480,136	473,233	469,027	365,439	287,473	208,538	109,653	0	-	0	0	-	-	-	-	-	-	-	-	-	-	-
Income tax expense
133,243	164,304	174,133	173,592	165,639	167,978	185,403	182,059	194,675	196,913	190,189	200,723	195,547	205,770	205,434	196,732	192,293	180,517	174,398	177,532	147,797	117,005	82,879	51,211	37,565	30,003	33,444	33,050	41,557	36,695	34,672	33,168	31,915	36,800	28,075	20,001	0	0	0
Net earnings from continuing operations
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	170,468	102,858	0	0	0	-	-	0	-	0	0	-	-	-	-	-	-	-
Net income before income taxes
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	62,331	82,217	85,014	106,588	93,496	85,464	81,176	77,207	87,504	68,396	49,723	0	0	0
Loss from discontinued operations before taxes
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-2,677	-3,150	-3,103	-2,033	0	0	0	-	-	-	-	-	-	-	-	-	-	-
Income tax benefit
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-1,114	-1,307	-1,288	-778	0	0	0	-	-	-	-	-	-	-	-	-	-	-
Net loss from discontinued operations
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-1,563	-1,843	-1,815	-1,187	0	0	0	-	-	-	-	-	-	-	-	-	-	-
Net Income (Loss) Attributable to Parent
-1,077,079	468,636	465,796	472,057	459,667	465,339	434,335	419,514	397,426	357,818	359,428	351,857	340,378	352,166	338,360	314,081	316,996	299,619	298,777	291,432	216,904	168,905	101,015	62,907	56,701	45,115	61,898	53,823	65,031	56,801	50,792	48,008	45,292	50,704	40,321	29,722	0	0	0
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