PacWest Bancorp in Los Angeles reported higher third-quarter profits thanks to higher net interest income, increased commissions and fees and the elimination of its loss-sharing agreements.

The $21.3 billion-asset company said in a press release Tuesday that quarterly net earnings increased 34.7% from a year earlier to $93.9 million. At 77 cents per share, the earnings beat the consensus of analysts' estimates by a penny.

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