- Current report filing (8-K)
30 März 2009 - 11:13PM
Edgar (US Regulatory)
UNITED STATES
SECURITIES AND EXCHANGE
COMMISSION
Washington, D.C. 20549
FORM 8-K
Current Report
Pursuant to Section 13 or 15(d) of
the Securities Exchange Act of
1934
March 25, 2009
Date of Report (Date of earliest event reported)
PACWEST BANCORP
(Exact name of registrant as specified in its charter)
Delaware
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00-30747
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33-0885320
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(State or Other
Jurisdiction of
Incorporation)
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(Commission File
Number)
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(I.R.S. Employer
Identification No.)
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401 West A Street
San Diego, California 92101
(Address of principal executive offices and zip code)
(619) 233-5588
(Registrants telephone number, including area code)
Check the appropriate box below if the Form 8-K is
intended to simultaneously satisfy the filing obligation of the registrant
under any of the following provisions (
see
General
Instruction A.2. below):
o
Written communications
pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
o
Soliciting material pursuant
to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
o
Pre-commencement
communications pursuant to Rule 14d-2(b) under the Exchange Act
(17 CFR 240.14d-2(b))
o
Pre-commencement communications pursuant to Rule 13e-4(c) under
the Exchange Act (17 CRF 240.13e-4(c))
Item 1.01 Entry
into a Material Definitive Agreement
On March 25, 2009, PacWest Bancorp (the Company) renewed its
services agreement with Castle Creek Financial LLC (Castle Creek). John
M. Eggemeyer, Chairman of the Company, is also Chief Executive Officer of
Castle Creek.
Pursuant to the terms of the services agreement, the Company and Castle
Creek have entered into an exclusive arrangement whereby the Company has agreed
to use Castle Creek as its financial advisor for various types of transactions,
if it chooses to use a financial advisor, and Castle Creek agrees to provide
advisory services to the Company in the Companys market area, including but
not limited to the sourcing and evaluation of potential acquisition
opportunities, and exclusive presentation of such opportunities to the Company.
The term of the services may be
cancelled by either party upon thirty days notice. The services
agreement provides for the payment of the following fees upon the consummation
of certain transactions: (a) 1.0% of the aggregate consideration paid in
the event the Company is sold; and (b) in the event of an acquisition of
another financial institution by the Company: 1.0% of the aggregate value of
the transaction if the aggregate value is $20 million or less; and if the
aggregate value is over $20 million, $200,000 plus 0.65% of the amount of the
transaction in excess of $20 million. Castle Creek is also entitled to
reimbursement of its reasonable expenses incurred on behalf of the Company.
The foregoing description of the services agreement is qualified in its
entirety by reference to the services agreement. A copy of the executed
services agreement is filed as Exhibit 10.1 hereto and incorporated herein
by reference.
Item 9.01. Financial
Statements and Exhibits
(d)
Exhibits
Exhibit No.
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Description
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10.1
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Services Agreement,
dated March 25, 2009, by and between PacWest Bancorp and Castle Creek
Financial, LLC.
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2
SIGNATURES
Pursuant to the
requirements of the Securities Exchange Act of 1934, the registrant has duly
caused this report to be signed on its behalf by the undersigned hereunto duly
authorized.
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PACWEST
BANCORP
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Date: March 30, 2009
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By:
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/s/ Victor R.
Santoro
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Name: Victor R.
Santoro
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Title: Executive Vice President and CFO
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3
EXHIBIT
INDEX
Exhibit No.
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Description
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10.1
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Services Agreement,
dated March 25, 2009, by and between PacWest Bancorp and Castle Creek
Financial, LLC.
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4
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