PacWest Bancorp (PACW) in Los Angeles more than doubled its first-quarter profit as it reduced its loan-loss provision by $10 million.

The $5.3 billion-asset company earned $13.5 million in the first quarter, a 156% rise from the year-prior period. But its profit was down 32% from the fourth quarter, and per-share earnings of 37 cents were 10 cents lower than analysts polled by Bloomberg expected.

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