PACW PacWest Bancorp

Pacific Western Bank announced today that Pacific Western Equipment Finance is the new name of the former Marquette Equipment Finance, effective as of the close of business on Friday, March 23, 2012. Following Pacific Western Bank's acquisition of Marquette Equipment Finance in January 2012, the new name links the 34 year old Utah-based equipment leasing company with its commercial banking parent. Pacific Western Bank is the wholly-owned banking subsidiary of PacWest Bancorp (Nasdaq:PACW).

"This is a significant step in the process of becoming part of the Pacific Western Bank organization," noted Jim Christensen, President of Pacific Western Equipment Finance. "We will continue to serve our clients with innovation and integrity, supported by the substantial strength of our new parent company. With our new name, we are positioned to provide our proven financing solutions for Pacific Western Bank clients as well."

"Pacific Western Equipment Finance will function as a division of our commercial banking operations, adding business essential equipment leasing to the variety of financial solutions we offer to our customers," added Matt Wagner, Chairman and CEO of Pacific Western Bank and CEO of PacWest Bancorp.

Pacific Western Equipment Finance focuses on business-essential equipment leases with transactions primarily in the mid-ticket segment, providing working capital financing and equipment leasing to growing companies located throughout the United States. At December 31, 2011, Pacific Western Equipment Finance had approximately $162 million in gross leases and leases in process outstanding. With leases spread across 18 industries, 68% of Pacific Western Equipment Finance's lease portfolio is concentrated in the financial services/insurance, manufacturing, and health care industries.

ABOUT PACWEST BANCORP AND PACIFIC WESTERN BANK

PacWest Bancorp ("PacWest") is a bank holding company with $5.5 billion in assets as of December 31, 2011, with one wholly-owned banking subsidiary, Pacific Western Bank ("Pacific Western"). Through 76 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 throughout California in Los Angeles, Orange, Riverside, San Bernardino, Santa Barbara, San Diego, San Francisco, San Luis Obispo, San Mateo and Ventura Counties. Through its subsidiary BFI Business Finance, and its divisions Pacific Western Equipment Finance and First Community Financial, Pacific Western also provides working capital financing and equipment leasing to growing companies located throughout the Southwest, primarily in Arizona, California, Utah 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.

FORWARD-LOOKING STATEMENTS

This press release contains certain forward-looking information about PacWest that is intended to be covered by the safe harbor for "forward-looking statements" provided by the Private Securities Litigation Reform Act of 1995. All statements other than statements of historical fact are forward-looking statements. Such statements involve inherent risks and uncertainties, many of which are difficult to predict and are generally beyond the control of the Company. We caution readers that a number of important factors could cause actual results to differ materially from those expressed in, implied or projected by, such forward-looking statements. Risks and uncertainties include, but are not limited to: lower than expected revenues; credit quality deterioration or a reduction in real estate values could cause an increase in the allowance for credit losses and a reduction in net earnings; increased competitive pressure among depository institutions; the Company's ability to complete future acquisitions, successfully integrate such acquired entities, or achieve expected beneficial synergies and/or operating efficiencies within expected timeframes or at all; settlements with the FDIC related to our loss-sharing arrangement and other adjustments related to the Los Padres Bank and Affinity Bank acquisitions; the possibility that personnel changes will not proceed as planned; the cost of additional capital is more than expected; a change in the interest rate environment reduces net interest margins; asset/liability repricing risks and liquidity risks; pending legal matters may take longer or cost more to resolve or may be resolved adversely to the Company; general economic conditions, either nationally or in the market areas in which the Company does or anticipates doing business, are less favorable than expected; environmental conditions, including natural disasters, may disrupt our business, impede our operations, negatively impact the values of collateral securing the Company's loans or impair the ability of our borrowers to support their debt obligations; the economic and regulatory effects of the continuing war on terrorism and other events of war, including the conflicts in the Middle East; legislative or regulatory requirements or changes adversely affecting the Company's business; changes in the securities markets; regulatory approvals for any capital activities cannot be obtained on the terms expected or on the anticipated schedule; and, other risks that are described in PacWest's public filings with the U.S. Securities and Exchange Commission (the "SEC"). If any of these risks or uncertainties materializes or if any of the assumptions underlying such forward-looking statements proves to be incorrect, PacWest's results could differ materially from those expressed in, implied or projected by such forward-looking statements. PacWest assumes no obligation to update such forward-looking statements.

For a more complete discussion of risks and uncertainties, investors and security holders are urged to read PacWest Bancorp's annual report on Form 10-K, quarterly reports on Form 10-Q and other reports filed by PacWest with the SEC. The documents filed by PacWest with the SEC may be obtained at PacWest Bancorp's website at www.pacwestbancorp.com or at the SEC's website at www.sec.gov. These documents may also be obtained free of charge from PacWest by directing a request to: PacWest Bancorp c/o Pacific Western Bank, 275 North Brea Boulevard, Brea, CA 92821. Attention: Investor Relations. Telephone 714-671-6800.

CONTACT: MEDIA CONTACTS:
         Jim Christensen: 801-566-9201
         Matt Wagner: 310-728-1020