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The acquisition of CapitalSource has pushed PacWest's capital from full to overflowing. With diminished interest in M&A, the Los Angeles company recently doubled its dividend, while analysts expect management to award a special payout in the future.
November 21 -
PacWest Bancorp in Los Angeles reported higher quarterly earnings, driven by asset gains from a recent acquisition.
October 22 -
PacWest Bancorp in Los Angeles reported higher quarterly earnings aided by its acquisition of CapitalSource.
July 22
PacWest Bancorp in Los Angeles reported an increase in fourth-quarter profit, the second full quarter after its
The $16.2 billion-asset company said net earnings were $71 million, or 69 cents per share, one cent below the average estimate of analysts polled by Bloomberg. PacWest reported profit of $3.1 million in the fourth quarter of 2013, before the CapitalSource deal closed.
Net interest income rose to $195 million from the third quarter of this year, on higher accelerated discount accretion resulting from early payoffs of acquired loans. The net interest margin was 5.86%.
Noninterest income fell 22% from the previous quarter, to $12.7 million, in part because of lower commissions and fees due to lower prepayment fees and other loan-related fees.
Noninterest expense fell 3.5% to $92.3 million from the third quarter, on lower foreclosed assets expense and lower operating expenses.
