PACW PacWest Bancorp

PacWest Bancorp (Nasdaq:PACW) announced today that its Board of Directors has declared a quarterly cash dividend of $0.18 per common share. The cash dividend is payable on November 30, 2011 to stockholders of record at the close of business on November 17, 2011. 

Matt Wagner, CEO of PacWest Bancorp, stated, "We have had several good quarters and continue to build capital rapidly. We believe this dividend is an appropriate return to our stockholders given our financial performance over the last three quarters. We will continue to analyze each quarter the appropriate level of dividend, if any, based on the Company's performance, other factors the Board deems relevant and any required regulatory approvals."

ABOUT PACWEST BANCORP

PacWest Bancorp ("PacWest") is a bank holding company with $5.5 billion in assets as of September 30, 2011, with one wholly-owned banking subsidiary, Pacific Western Bank ("Pacific Western"). Through 77 full-service community banking branches, Pacific Western provides commercial banking services, including real estate, construction and commercial loans, to small and medium-sized businesses. Pacific Western's branches are located in Los Angeles, Orange, Riverside, San Bernardino, Santa Barbara, San Diego, San Francisco, San Luis Obispo, San Mateo and Ventura Counties in California and Maricopa County in Arizona. Through its subsidiary BFI Business Finance and its division First Community Financial, Pacific Western also provides working capital financing to growing companies located throughout the Southwest, primarily in the states of Arizona, California and Texas. Additional information regarding PacWest Bancorp is available on the Internet at www.pacwestbancorp.com. Information regarding Pacific Western Bank is also available on the Internet at www.pacificwesternbank.com.

CONTACT: Matt Wagner
         Chief Executive Officer
         (310) 728-1020
         Vic Santoro
         Executive Vice President and CFO
         (310) 728-1021