000110211212/312023Q1false1.5P3Y0M0D0.02500011021122023-01-012023-03-310001102112us-gaap:CommonStockMember2023-01-012023-03-310001102112us-gaap:PreferredClassAMember2023-01-012023-03-3100011021122023-04-27xbrli:shares00011021122023-03-31iso4217:USD00011021122022-12-310001102112pacw:CreditLinkNotesMember2023-03-3100011021122022-03-31iso4217:USDxbrli:shares00011021122022-01-012022-03-310001102112us-gaap:PreferredStockMember2022-12-310001102112us-gaap:CommonStockMember2022-12-310001102112us-gaap:AdditionalPaidInCapitalMember2022-12-310001102112us-gaap:RetainedEarningsMember2022-12-310001102112us-gaap:TreasuryStockMember2022-12-310001102112us-gaap:AccumulatedOtherComprehensiveIncomeMember2022-12-310001102112us-gaap:RetainedEarningsMember2022-07-012022-09-3000011021122022-07-012022-09-300001102112us-gaap:AccumulatedOtherComprehensiveIncomeMember2022-07-012022-09-300001102112us-gaap:CommonStockMember2022-07-012022-09-300001102112us-gaap:AdditionalPaidInCapitalMember2022-07-012022-09-300001102112us-gaap:TreasuryStockMember2022-07-012022-09-3000011021122022-10-012022-12-310001102112us-gaap:PreferredStockMember2022-09-300001102112us-gaap:CommonStockMember2022-09-300001102112us-gaap:AdditionalPaidInCapitalMember2022-09-300001102112us-gaap:RetainedEarningsMember2022-09-300001102112us-gaap:TreasuryStockMember2022-09-300001102112us-gaap:AccumulatedOtherComprehensiveIncomeMember2022-09-3000011021122022-09-300001102112us-gaap:CommonStockMember2021-12-310001102112us-gaap:AdditionalPaidInCapitalMember2021-12-310001102112us-gaap:RetainedEarningsMember2021-12-310001102112us-gaap:TreasuryStockMember2021-12-310001102112us-gaap:AccumulatedOtherComprehensiveIncomeMember2021-12-3100011021122021-12-310001102112us-gaap:RetainedEarningsMember2021-07-012021-09-3000011021122021-07-012021-09-300001102112us-gaap:AccumulatedOtherComprehensiveIncomeMember2021-07-012021-09-300001102112us-gaap:CommonStockMember2021-07-012021-09-300001102112us-gaap:AdditionalPaidInCapitalMember2021-07-012021-09-300001102112us-gaap:TreasuryStockMember2021-07-012021-09-3000011021122021-10-012021-12-310001102112us-gaap:CommonStockMember2021-09-300001102112us-gaap:AdditionalPaidInCapitalMember2021-09-300001102112us-gaap:RetainedEarningsMember2021-09-300001102112us-gaap:TreasuryStockMember2021-09-300001102112us-gaap:AccumulatedOtherComprehensiveIncomeMember2021-09-3000011021122021-09-3000011021122022-01-012022-12-31pacw:reportable_segment0001102112us-gaap:HeldtomaturitySecuritiesMember2022-06-012022-06-010001102112us-gaap:ResidentialMortgageBackedSecuritiesMember2023-03-310001102112us-gaap:ResidentialMortgageBackedSecuritiesMember2022-12-310001102112us-gaap:USTreasurySecuritiesMember2023-03-310001102112us-gaap:USTreasurySecuritiesMember2022-12-310001102112us-gaap:CommercialMortgageBackedSecuritiesMember2023-03-310001102112us-gaap:CommercialMortgageBackedSecuritiesMember2022-12-310001102112pacw:GovernmentagencyandgovernmentsponsoredenterprisecollateralizedmortgageobligationsMember2023-03-310001102112pacw:GovernmentagencyandgovernmentsponsoredenterprisecollateralizedmortgageobligationsMember2022-12-310001102112us-gaap:USStatesAndPoliticalSubdivisionsMember2023-03-310001102112us-gaap:USStatesAndPoliticalSubdivisionsMember2022-12-310001102112us-gaap:CorporateDebtSecuritiesMember2023-03-310001102112us-gaap:CorporateDebtSecuritiesMember2022-12-310001102112pacw:PrivateLabelCollateralizedMortgageObligationsMember2023-03-310001102112pacw:PrivateLabelCollateralizedMortgageObligationsMember2022-12-310001102112us-gaap:CollateralizedLoanObligationsMember2023-03-310001102112us-gaap:CollateralizedLoanObligationsMember2022-12-310001102112us-gaap:MortgageBackedSecuritiesIssuedByPrivateEnterprisesMember2023-03-310001102112us-gaap:MortgageBackedSecuritiesIssuedByPrivateEnterprisesMember2022-12-310001102112us-gaap:AssetBackedSecuritiesMember2023-03-310001102112us-gaap:AssetBackedSecuritiesMember2022-12-310001102112pacw:SBAassetbackedsecuritiesMember2023-03-310001102112pacw:SBAassetbackedsecuritiesMember2022-12-310001102112us-gaap:AvailableforsaleSecuritiesMember2023-03-310001102112us-gaap:ResidentialMortgageBackedSecuritiesMember2023-03-310001102112us-gaap:USTreasurySecuritiesMember2023-03-310001102112us-gaap:CommercialMortgageBackedSecuritiesMember2023-03-310001102112pacw:GovernmentagencyandgovernmentsponsoredenterprisecollateralizedmortgageobligationsMember2023-03-310001102112us-gaap:USStatesAndPoliticalSubdivisionsMember2023-03-310001102112us-gaap:CorporateDebtSecuritiesMember2023-03-310001102112pacw:PrivateLabelCollateralizedMortgageObligationsMember2023-03-310001102112us-gaap:CollateralizedLoanObligationsMember2023-03-310001102112us-gaap:MortgageBackedSecuritiesIssuedByPrivateEnterprisesMember2023-03-310001102112us-gaap:AssetBackedSecuritiesMember2023-03-310001102112pacw:SBAassetbackedsecuritiesMember2023-03-310001102112us-gaap:ResidentialMortgageBackedSecuritiesMember2022-12-310001102112us-gaap:USTreasurySecuritiesMember2022-12-310001102112us-gaap:CommercialMortgageBackedSecuritiesMember2022-12-310001102112pacw:GovernmentagencyandgovernmentsponsoredenterprisecollateralizedmortgageobligationsMember2022-12-310001102112us-gaap:USStatesAndPoliticalSubdivisionsMember2022-12-310001102112us-gaap:CorporateDebtSecuritiesMember2022-12-310001102112pacw:PrivateLabelCollateralizedMortgageObligationsMember2022-12-310001102112us-gaap:CollateralizedLoanObligationsMember2022-12-310001102112us-gaap:MortgageBackedSecuritiesIssuedByPrivateEnterprisesMember2022-12-310001102112us-gaap:AssetBackedSecuritiesMember2022-12-310001102112pacw:SBAassetbackedsecuritiesMember2022-12-310001102112us-gaap:HeldtomaturitySecuritiesMember2023-03-310001102112us-gaap:USStatesAndPoliticalSubdivisionsMember2023-01-012023-03-310001102112us-gaap:CorporateDebtSecuritiesMember2023-01-012023-03-310001102112us-gaap:USStatesAndPoliticalSubdivisionsMembersrt:StandardPoorsAAARatingMember2023-03-310001102112us-gaap:USStatesAndPoliticalSubdivisionsMembersrt:StandardPoorsAAPlusRatingMember2023-03-310001102112us-gaap:USStatesAndPoliticalSubdivisionsMembersrt:StandardPoorsAARatingMember2023-03-310001102112srt:StandardPoorsAAMinusRatingMemberus-gaap:USStatesAndPoliticalSubdivisionsMember2023-03-310001102112us-gaap:USStatesAndPoliticalSubdivisionsMembersrt:StandardPoorsARatingMember2023-03-310001102112srt:StandardPoorsAMinusRatingMemberus-gaap:USStatesAndPoliticalSubdivisionsMember2023-03-310001102112us-gaap:USStatesAndPoliticalSubdivisionsMembersrt:StandardPoorsBBBRatingMember2023-03-310001102112us-gaap:USStatesAndPoliticalSubdivisionsMemberpacw:StandardPoorsNoCreditRatingMember2023-03-310001102112srt:StandardPoorsAAARatingMemberus-gaap:CommercialMortgageBackedSecuritiesMember2023-03-310001102112srt:StandardPoorsAAPlusRatingMemberus-gaap:CommercialMortgageBackedSecuritiesMember2023-03-310001102112srt:StandardPoorsAARatingMemberus-gaap:CommercialMortgageBackedSecuritiesMember2023-03-310001102112srt:StandardPoorsAAMinusRatingMemberus-gaap:CommercialMortgageBackedSecuritiesMember2023-03-310001102112srt:StandardPoorsARatingMemberus-gaap:CommercialMortgageBackedSecuritiesMember2023-03-310001102112srt:StandardPoorsAMinusRatingMemberus-gaap:CommercialMortgageBackedSecuritiesMember2023-03-310001102112us-gaap:CommercialMortgageBackedSecuritiesMembersrt:StandardPoorsBBBRatingMember2023-03-310001102112pacw:StandardPoorsNoCreditRatingMemberus-gaap:CommercialMortgageBackedSecuritiesMember2023-03-310001102112srt:StandardPoorsAAARatingMemberus-gaap:MortgageBackedSecuritiesIssuedByPrivateEnterprisesMember2023-03-310001102112srt:StandardPoorsAAPlusRatingMemberus-gaap:MortgageBackedSecuritiesIssuedByPrivateEnterprisesMember2023-03-310001102112srt:StandardPoorsAARatingMemberus-gaap:MortgageBackedSecuritiesIssuedByPrivateEnterprisesMember2023-03-310001102112srt:StandardPoorsAAMinusRatingMemberus-gaap:MortgageBackedSecuritiesIssuedByPrivateEnterprisesMember2023-03-310001102112srt:StandardPoorsARatingMemberus-gaap:MortgageBackedSecuritiesIssuedByPrivateEnterprisesMember2023-03-310001102112srt:StandardPoorsAMinusRatingMemberus-gaap:MortgageBackedSecuritiesIssuedByPrivateEnterprisesMember2023-03-310001102112srt:StandardPoorsBBBRatingMemberus-gaap:MortgageBackedSecuritiesIssuedByPrivateEnterprisesMember2023-03-310001102112pacw:StandardPoorsNoCreditRatingMemberus-gaap:MortgageBackedSecuritiesIssuedByPrivateEnterprisesMember2023-03-310001102112us-gaap:USTreasurySecuritiesMembersrt:StandardPoorsAAARatingMember2023-03-310001102112us-gaap:USTreasurySecuritiesMembersrt:StandardPoorsAAPlusRatingMember2023-03-310001102112us-gaap:USTreasurySecuritiesMembersrt:StandardPoorsAARatingMember2023-03-310001102112srt:StandardPoorsAAMinusRatingMemberus-gaap:USTreasurySecuritiesMember2023-03-310001102112us-gaap:USTreasurySecuritiesMembersrt:StandardPoorsARatingMember2023-03-310001102112srt:StandardPoorsAMinusRatingMemberus-gaap:USTreasurySecuritiesMember2023-03-310001102112us-gaap:USTreasurySecuritiesMembersrt:StandardPoorsBBBRatingMember2023-03-310001102112us-gaap:USTreasurySecuritiesMemberpacw:StandardPoorsNoCreditRatingMember2023-03-310001102112srt:StandardPoorsAAARatingMemberus-gaap:CorporateDebtSecuritiesMember2023-03-310001102112srt:StandardPoorsAAPlusRatingMemberus-gaap:CorporateDebtSecuritiesMember2023-03-310001102112srt:StandardPoorsAARatingMemberus-gaap:CorporateDebtSecuritiesMember2023-03-310001102112srt:StandardPoorsAAMinusRatingMemberus-gaap:CorporateDebtSecuritiesMember2023-03-310001102112srt:StandardPoorsARatingMemberus-gaap:CorporateDebtSecuritiesMember2023-03-310001102112srt:StandardPoorsAMinusRatingMemberus-gaap:CorporateDebtSecuritiesMember2023-03-310001102112srt:StandardPoorsBBBRatingMemberus-gaap:CorporateDebtSecuritiesMember2023-03-310001102112pacw:StandardPoorsNoCreditRatingMemberus-gaap:CorporateDebtSecuritiesMember2023-03-310001102112srt:StandardPoorsAAARatingMember2023-03-310001102112srt:StandardPoorsAAPlusRatingMember2023-03-310001102112srt:StandardPoorsAARatingMember2023-03-310001102112srt:StandardPoorsAAMinusRatingMember2023-03-310001102112srt:StandardPoorsARatingMember2023-03-310001102112srt:StandardPoorsAMinusRatingMember2023-03-310001102112srt:StandardPoorsBBBRatingMember2023-03-310001102112pacw:StandardPoorsNoCreditRatingMember2023-03-310001102112us-gaap:USStatesAndPoliticalSubdivisionsMembersrt:StandardPoorsAAARatingMember2022-12-310001102112us-gaap:USStatesAndPoliticalSubdivisionsMembersrt:StandardPoorsAAPlusRatingMember2022-12-310001102112us-gaap:USStatesAndPoliticalSubdivisionsMembersrt:StandardPoorsAARatingMember2022-12-310001102112srt:StandardPoorsAAMinusRatingMemberus-gaap:USStatesAndPoliticalSubdivisionsMember2022-12-310001102112us-gaap:USStatesAndPoliticalSubdivisionsMembersrt:StandardPoorsARatingMember2022-12-310001102112srt:StandardPoorsAMinusRatingMemberus-gaap:USStatesAndPoliticalSubdivisionsMember2022-12-310001102112us-gaap:USStatesAndPoliticalSubdivisionsMembersrt:StandardPoorsBBBRatingMember2022-12-310001102112us-gaap:USStatesAndPoliticalSubdivisionsMemberpacw:StandardPoorsNoCreditRatingMember2022-12-310001102112srt:StandardPoorsAAARatingMemberus-gaap:CommercialMortgageBackedSecuritiesMember2022-12-310001102112srt:StandardPoorsAAPlusRatingMemberus-gaap:CommercialMortgageBackedSecuritiesMember2022-12-310001102112srt:StandardPoorsAARatingMemberus-gaap:CommercialMortgageBackedSecuritiesMember2022-12-310001102112srt:StandardPoorsAAMinusRatingMemberus-gaap:CommercialMortgageBackedSecuritiesMember2022-12-310001102112srt:StandardPoorsARatingMemberus-gaap:CommercialMortgageBackedSecuritiesMember2022-12-310001102112srt:StandardPoorsAMinusRatingMemberus-gaap:CommercialMortgageBackedSecuritiesMember2022-12-310001102112us-gaap:CommercialMortgageBackedSecuritiesMembersrt:StandardPoorsBBBRatingMember2022-12-310001102112pacw:StandardPoorsNoCreditRatingMemberus-gaap:CommercialMortgageBackedSecuritiesMember2022-12-310001102112srt:StandardPoorsAAARatingMemberus-gaap:MortgageBackedSecuritiesIssuedByPrivateEnterprisesMember2022-12-310001102112srt:StandardPoorsAAPlusRatingMemberus-gaap:MortgageBackedSecuritiesIssuedByPrivateEnterprisesMember2022-12-310001102112srt:StandardPoorsAARatingMemberus-gaap:MortgageBackedSecuritiesIssuedByPrivateEnterprisesMember2022-12-310001102112srt:StandardPoorsAAMinusRatingMemberus-gaap:MortgageBackedSecuritiesIssuedByPrivateEnterprisesMember2022-12-310001102112srt:StandardPoorsARatingMemberus-gaap:MortgageBackedSecuritiesIssuedByPrivateEnterprisesMember2022-12-310001102112srt:StandardPoorsAMinusRatingMemberus-gaap:MortgageBackedSecuritiesIssuedByPrivateEnterprisesMember2022-12-310001102112srt:StandardPoorsBBBRatingMemberus-gaap:MortgageBackedSecuritiesIssuedByPrivateEnterprisesMember2022-12-310001102112pacw:StandardPoorsNoCreditRatingMemberus-gaap:MortgageBackedSecuritiesIssuedByPrivateEnterprisesMember2022-12-310001102112us-gaap:USTreasurySecuritiesMembersrt:StandardPoorsAAARatingMember2022-12-310001102112us-gaap:USTreasurySecuritiesMembersrt:StandardPoorsAAPlusRatingMember2022-12-310001102112us-gaap:USTreasurySecuritiesMembersrt:StandardPoorsAARatingMember2022-12-310001102112srt:StandardPoorsAAMinusRatingMemberus-gaap:USTreasurySecuritiesMember2022-12-310001102112us-gaap:USTreasurySecuritiesMembersrt:StandardPoorsARatingMember2022-12-310001102112srt:StandardPoorsAMinusRatingMemberus-gaap:USTreasurySecuritiesMember2022-12-310001102112us-gaap:USTreasurySecuritiesMembersrt:StandardPoorsBBBRatingMember2022-12-310001102112us-gaap:USTreasurySecuritiesMemberpacw:StandardPoorsNoCreditRatingMember2022-12-310001102112srt:StandardPoorsAAARatingMemberus-gaap:CorporateDebtSecuritiesMember2022-12-310001102112srt:StandardPoorsAAPlusRatingMemberus-gaap:CorporateDebtSecuritiesMember2022-12-310001102112srt:StandardPoorsAARatingMemberus-gaap:CorporateDebtSecuritiesMember2022-12-310001102112srt:StandardPoorsAAMinusRatingMemberus-gaap:CorporateDebtSecuritiesMember2022-12-310001102112srt:StandardPoorsARatingMemberus-gaap:CorporateDebtSecuritiesMember2022-12-310001102112srt:StandardPoorsAMinusRatingMemberus-gaap:CorporateDebtSecuritiesMember2022-12-310001102112srt:StandardPoorsBBBRatingMemberus-gaap:CorporateDebtSecuritiesMember2022-12-310001102112pacw:StandardPoorsNoCreditRatingMemberus-gaap:CorporateDebtSecuritiesMember2022-12-310001102112srt:StandardPoorsAAARatingMember2022-12-310001102112srt:StandardPoorsAAPlusRatingMember2022-12-310001102112srt:StandardPoorsAARatingMember2022-12-310001102112srt:StandardPoorsAAMinusRatingMember2022-12-310001102112srt:StandardPoorsARatingMember2022-12-310001102112srt:StandardPoorsAMinusRatingMember2022-12-310001102112srt:StandardPoorsBBBRatingMember2022-12-310001102112pacw:StandardPoorsNoCreditRatingMember2022-12-310001102112us-gaap:MortgagesMember2023-03-310001102112us-gaap:MortgagesMember2022-12-310001102112pacw:RealEstateConstructionMember2023-03-310001102112pacw:RealEstateConstructionMember2022-12-310001102112us-gaap:CommercialPortfolioSegmentMember2023-03-310001102112us-gaap:CommercialPortfolioSegmentMember2022-12-310001102112us-gaap:ConsumerPortfolioSegmentMember2023-03-310001102112us-gaap:ConsumerPortfolioSegmentMember2022-12-310001102112us-gaap:LoansAndFinanceReceivablesMember2023-03-310001102112us-gaap:LoansAndFinanceReceivablesMember2022-12-310001102112us-gaap:MortgagesMemberus-gaap:CommercialRealEstateMemberpacw:A30To89DaysPastDueMember2023-03-310001102112pacw:A90OrMoreDaysPastDueMemberus-gaap:MortgagesMemberus-gaap:CommercialRealEstateMember2023-03-310001102112us-gaap:MortgagesMemberus-gaap:CommercialRealEstateMember2023-03-310001102112us-gaap:MortgagesMemberpacw:MultiFamilyRealEstateLoansMemberpacw:A30To89DaysPastDueMember2023-03-310001102112pacw:A90OrMoreDaysPastDueMemberus-gaap:MortgagesMemberpacw:MultiFamilyRealEstateLoansMember2023-03-310001102112us-gaap:MortgagesMemberpacw:MultiFamilyRealEstateLoansMember2023-03-310001102112pacw:OtherResidentialRealEstateMemberus-gaap:MortgagesMemberpacw:A30To89DaysPastDueMember2023-03-310001102112pacw:OtherResidentialRealEstateMemberpacw:A90OrMoreDaysPastDueMemberus-gaap:MortgagesMember2023-03-310001102112pacw:OtherResidentialRealEstateMemberus-gaap:MortgagesMember2023-03-310001102112us-gaap:MortgagesMemberpacw:A30To89DaysPastDueMember2023-03-310001102112us-gaap:MortgagesMemberpacw:A90OrMoreDaysPastDueMember2023-03-310001102112pacw:CommercialRealEstateConstructionLoanReceivableMemberpacw:RealEstateConstructionMemberpacw:A30To89DaysPastDueMember2023-03-310001102112pacw:A90OrMoreDaysPastDueMemberpacw:CommercialRealEstateConstructionLoanReceivableMemberpacw:RealEstateConstructionMember2023-03-310001102112pacw:CommercialRealEstateConstructionLoanReceivableMemberpacw:RealEstateConstructionMember2023-03-310001102112pacw:ResidentialRealEstateConstructionFinancingReceivableMemberpacw:RealEstateConstructionMemberpacw:A30To89DaysPastDueMember2023-03-310001102112pacw:A90OrMoreDaysPastDueMemberpacw:ResidentialRealEstateConstructionFinancingReceivableMemberpacw:RealEstateConstructionMember2023-03-310001102112pacw:ResidentialRealEstateConstructionFinancingReceivableMemberpacw:RealEstateConstructionMember2023-03-310001102112pacw:RealEstateConstructionMemberpacw:A30To89DaysPastDueMember2023-03-310001102112pacw:A90OrMoreDaysPastDueMemberpacw:RealEstateConstructionMember2023-03-310001102112us-gaap:CommercialPortfolioSegmentMemberpacw:AssetBasedMemberpacw:A30To89DaysPastDueMember2023-03-310001102112pacw:A90OrMoreDaysPastDueMemberus-gaap:CommercialPortfolioSegmentMemberpacw:AssetBasedMember2023-03-310001102112us-gaap:CommercialPortfolioSegmentMemberpacw:AssetBasedMember2023-03-310001102112us-gaap:CommercialPortfolioSegmentMemberpacw:A30To89DaysPastDueMemberpacw:VentureCapitalLoansMember2023-03-310001102112pacw:A90OrMoreDaysPastDueMemberus-gaap:CommercialPortfolioSegmentMemberpacw:VentureCapitalLoansMember2023-03-310001102112us-gaap:CommercialPortfolioSegmentMemberpacw:VentureCapitalLoansMember2023-03-310001102112us-gaap:CommercialPortfolioSegmentMemberpacw:OtherCommercialMemberpacw:A30To89DaysPastDueMember2023-03-310001102112pacw:A90OrMoreDaysPastDueMemberus-gaap:CommercialPortfolioSegmentMemberpacw:OtherCommercialMember2023-03-310001102112us-gaap:CommercialPortfolioSegmentMemberpacw:OtherCommercialMember2023-03-310001102112us-gaap:CommercialPortfolioSegmentMemberpacw:A30To89DaysPastDueMember2023-03-310001102112pacw:A90OrMoreDaysPastDueMemberus-gaap:CommercialPortfolioSegmentMember2023-03-310001102112us-gaap:ConsumerPortfolioSegmentMemberpacw:A30To89DaysPastDueMember2023-03-310001102112pacw:A90OrMoreDaysPastDueMemberus-gaap:ConsumerPortfolioSegmentMember2023-03-310001102112pacw:A30To89DaysPastDueMember2023-03-310001102112pacw:A90OrMoreDaysPastDueMember2023-03-310001102112us-gaap:MortgagesMemberus-gaap:CommercialRealEstateMemberpacw:A30To89DaysPastDueMember2022-12-310001102112pacw:A90OrMoreDaysPastDueMemberus-gaap:MortgagesMemberus-gaap:CommercialRealEstateMember2022-12-310001102112us-gaap:MortgagesMemberus-gaap:CommercialRealEstateMember2022-12-310001102112us-gaap:MortgagesMemberpacw:MultiFamilyRealEstateLoansMemberpacw:A30To89DaysPastDueMember2022-12-310001102112pacw:A90OrMoreDaysPastDueMemberus-gaap:MortgagesMemberpacw:MultiFamilyRealEstateLoansMember2022-12-310001102112us-gaap:MortgagesMemberpacw:MultiFamilyRealEstateLoansMember2022-12-310001102112pacw:OtherResidentialRealEstateMemberus-gaap:MortgagesMemberpacw:A30To89DaysPastDueMember2022-12-310001102112pacw:OtherResidentialRealEstateMemberpacw:A90OrMoreDaysPastDueMemberus-gaap:MortgagesMember2022-12-310001102112pacw:OtherResidentialRealEstateMemberus-gaap:MortgagesMember2022-12-310001102112us-gaap:MortgagesMemberpacw:A30To89DaysPastDueMember2022-12-310001102112us-gaap:MortgagesMemberpacw:A90OrMoreDaysPastDueMember2022-12-310001102112pacw:CommercialRealEstateConstructionLoanReceivableMemberpacw:RealEstateConstructionMemberpacw:A30To89DaysPastDueMember2022-12-310001102112pacw:A90OrMoreDaysPastDueMemberpacw:CommercialRealEstateConstructionLoanReceivableMemberpacw:RealEstateConstructionMember2022-12-310001102112pacw:CommercialRealEstateConstructionLoanReceivableMemberpacw:RealEstateConstructionMember2022-12-310001102112pacw:ResidentialRealEstateConstructionFinancingReceivableMemberpacw:RealEstateConstructionMemberpacw:A30To89DaysPastDueMember2022-12-310001102112pacw:A90OrMoreDaysPastDueMemberpacw:ResidentialRealEstateConstructionFinancingReceivableMemberpacw:RealEstateConstructionMember2022-12-310001102112pacw:ResidentialRealEstateConstructionFinancingReceivableMemberpacw:RealEstateConstructionMember2022-12-310001102112pacw:RealEstateConstructionMemberpacw:A30To89DaysPastDueMember2022-12-310001102112pacw:A90OrMoreDaysPastDueMemberpacw:RealEstateConstructionMember2022-12-310001102112us-gaap:CommercialPortfolioSegmentMemberpacw:AssetBasedMemberpacw:A30To89DaysPastDueMember2022-12-310001102112pacw:A90OrMoreDaysPastDueMemberus-gaap:CommercialPortfolioSegmentMemberpacw:AssetBasedMember2022-12-310001102112us-gaap:CommercialPortfolioSegmentMemberpacw:AssetBasedMember2022-12-310001102112us-gaap:CommercialPortfolioSegmentMemberpacw:A30To89DaysPastDueMemberpacw:VentureCapitalLoansMember2022-12-310001102112pacw:A90OrMoreDaysPastDueMemberus-gaap:CommercialPortfolioSegmentMemberpacw:VentureCapitalLoansMember2022-12-310001102112us-gaap:CommercialPortfolioSegmentMemberpacw:VentureCapitalLoansMember2022-12-310001102112us-gaap:CommercialPortfolioSegmentMemberpacw:OtherCommercialMemberpacw:A30To89DaysPastDueMember2022-12-310001102112pacw:A90OrMoreDaysPastDueMemberus-gaap:CommercialPortfolioSegmentMemberpacw:OtherCommercialMember2022-12-310001102112us-gaap:CommercialPortfolioSegmentMemberpacw:OtherCommercialMember2022-12-310001102112us-gaap:CommercialPortfolioSegmentMemberpacw:A30To89DaysPastDueMember2022-12-310001102112pacw:A90OrMoreDaysPastDueMemberus-gaap:CommercialPortfolioSegmentMember2022-12-310001102112us-gaap:ConsumerPortfolioSegmentMemberpacw:A30To89DaysPastDueMember2022-12-310001102112pacw:A90OrMoreDaysPastDueMemberus-gaap:ConsumerPortfolioSegmentMember2022-12-310001102112pacw:A30To89DaysPastDueMember2022-12-310001102112pacw:A90OrMoreDaysPastDueMember2022-12-310001102112us-gaap:MortgagesMemberus-gaap:PerformingFinancingReceivableMemberus-gaap:CommercialRealEstateMember2023-03-310001102112us-gaap:MortgagesMemberus-gaap:PerformingFinancingReceivableMemberus-gaap:CommercialRealEstateMember2022-12-310001102112us-gaap:MortgagesMemberus-gaap:PerformingFinancingReceivableMemberpacw:MultiFamilyRealEstateLoansMember2023-03-310001102112us-gaap:MortgagesMemberus-gaap:PerformingFinancingReceivableMemberpacw:MultiFamilyRealEstateLoansMember2022-12-310001102112pacw:OtherResidentialRealEstateMemberus-gaap:MortgagesMemberus-gaap:PerformingFinancingReceivableMember2023-03-310001102112pacw:OtherResidentialRealEstateMemberus-gaap:MortgagesMemberus-gaap:PerformingFinancingReceivableMember2022-12-310001102112us-gaap:MortgagesMemberus-gaap:PerformingFinancingReceivableMember2023-03-310001102112us-gaap:MortgagesMemberus-gaap:PerformingFinancingReceivableMember2022-12-310001102112us-gaap:PerformingFinancingReceivableMemberpacw:CommercialRealEstateConstructionLoanReceivableMemberpacw:RealEstateConstructionMember2023-03-310001102112us-gaap:PerformingFinancingReceivableMemberpacw:CommercialRealEstateConstructionLoanReceivableMemberpacw:RealEstateConstructionMember2022-12-310001102112pacw:ResidentialRealEstateConstructionFinancingReceivableMemberus-gaap:PerformingFinancingReceivableMemberpacw:RealEstateConstructionMember2023-03-310001102112pacw:ResidentialRealEstateConstructionFinancingReceivableMemberus-gaap:PerformingFinancingReceivableMemberpacw:RealEstateConstructionMember2022-12-310001102112us-gaap:PerformingFinancingReceivableMemberpacw:RealEstateConstructionMember2023-03-310001102112us-gaap:PerformingFinancingReceivableMemberpacw:RealEstateConstructionMember2022-12-310001102112us-gaap:CommercialPortfolioSegmentMemberus-gaap:PerformingFinancingReceivableMemberpacw:AssetBasedMember2023-03-310001102112us-gaap:CommercialPortfolioSegmentMemberus-gaap:PerformingFinancingReceivableMemberpacw:AssetBasedMember2022-12-310001102112us-gaap:CommercialPortfolioSegmentMemberus-gaap:PerformingFinancingReceivableMemberpacw:VentureCapitalLoansMember2023-03-310001102112us-gaap:CommercialPortfolioSegmentMemberus-gaap:PerformingFinancingReceivableMemberpacw:VentureCapitalLoansMember2022-12-310001102112us-gaap:CommercialPortfolioSegmentMemberus-gaap:PerformingFinancingReceivableMemberpacw:OtherCommercialMember2023-03-310001102112us-gaap:CommercialPortfolioSegmentMemberus-gaap:PerformingFinancingReceivableMemberpacw:OtherCommercialMember2022-12-310001102112us-gaap:CommercialPortfolioSegmentMemberus-gaap:PerformingFinancingReceivableMember2023-03-310001102112us-gaap:CommercialPortfolioSegmentMemberus-gaap:PerformingFinancingReceivableMember2022-12-310001102112us-gaap:ConsumerPortfolioSegmentMemberus-gaap:PerformingFinancingReceivableMember2023-03-310001102112us-gaap:ConsumerPortfolioSegmentMemberus-gaap:PerformingFinancingReceivableMember2022-12-310001102112us-gaap:PerformingFinancingReceivableMember2023-03-310001102112us-gaap:PerformingFinancingReceivableMember2022-12-310001102112pacw:NonaccrualMember2023-03-310001102112pacw:NonaccrualMember2022-12-310001102112us-gaap:CreditConcentrationRiskMember2023-03-310001102112pacw:NonaccrualLoansAndLeasesBenchmarkMemberus-gaap:CreditConcentrationRiskMemberus-gaap:FairValueConcentrationOfRiskAllFinancialInstrumentsMember2023-01-012023-03-31xbrli:pure0001102112pacw:ClassifiedMemberus-gaap:MortgagesMemberus-gaap:CommercialRealEstateMember2023-03-310001102112us-gaap:MortgagesMemberus-gaap:CommercialRealEstateMemberus-gaap:SpecialMentionMember2023-03-310001102112us-gaap:PassMemberus-gaap:MortgagesMemberus-gaap:CommercialRealEstateMember2023-03-310001102112pacw:ClassifiedMemberus-gaap:MortgagesMemberpacw:MultiFamilyRealEstateLoansMember2023-03-310001102112us-gaap:MortgagesMemberpacw:MultiFamilyRealEstateLoansMemberus-gaap:SpecialMentionMember2023-03-310001102112us-gaap:PassMemberus-gaap:MortgagesMemberpacw:MultiFamilyRealEstateLoansMember2023-03-310001102112pacw:OtherResidentialRealEstateMemberpacw:ClassifiedMemberus-gaap:MortgagesMember2023-03-310001102112pacw:OtherResidentialRealEstateMemberus-gaap:MortgagesMemberus-gaap:SpecialMentionMember2023-03-310001102112pacw:OtherResidentialRealEstateMemberus-gaap:PassMemberus-gaap:MortgagesMember2023-03-310001102112pacw:ClassifiedMemberus-gaap:MortgagesMember2023-03-310001102112us-gaap:MortgagesMemberus-gaap:SpecialMentionMember2023-03-310001102112us-gaap:PassMemberus-gaap:MortgagesMember2023-03-310001102112pacw:ClassifiedMemberpacw:CommercialRealEstateConstructionLoanReceivableMemberpacw:RealEstateConstructionMember2023-03-310001102112pacw:CommercialRealEstateConstructionLoanReceivableMemberus-gaap:SpecialMentionMemberpacw:RealEstateConstructionMember2023-03-310001102112us-gaap:PassMemberpacw:CommercialRealEstateConstructionLoanReceivableMemberpacw:RealEstateConstructionMember2023-03-310001102112pacw:ClassifiedMemberpacw:ResidentialRealEstateConstructionFinancingReceivableMemberpacw:RealEstateConstructionMember2023-03-310001102112pacw:ResidentialRealEstateConstructionFinancingReceivableMemberus-gaap:SpecialMentionMemberpacw:RealEstateConstructionMember2023-03-310001102112us-gaap:PassMemberpacw:ResidentialRealEstateConstructionFinancingReceivableMemberpacw:RealEstateConstructionMember2023-03-310001102112pacw:ClassifiedMemberpacw:RealEstateConstructionMember2023-03-310001102112us-gaap:SpecialMentionMemberpacw:RealEstateConstructionMember2023-03-310001102112us-gaap:PassMemberpacw:RealEstateConstructionMember2023-03-310001102112pacw:ClassifiedMemberus-gaap:CommercialPortfolioSegmentMemberpacw:AssetBasedMember2023-03-310001102112us-gaap:CommercialPortfolioSegmentMemberpacw:AssetBasedMemberus-gaap:SpecialMentionMember2023-03-310001102112us-gaap:PassMemberus-gaap:CommercialPortfolioSegmentMemberpacw:AssetBasedMember2023-03-310001102112pacw:ClassifiedMemberus-gaap:CommercialPortfolioSegmentMemberpacw:VentureCapitalLoansMember2023-03-310001102112us-gaap:CommercialPortfolioSegmentMemberus-gaap:SpecialMentionMemberpacw:VentureCapitalLoansMember2023-03-310001102112us-gaap:PassMemberus-gaap:CommercialPortfolioSegmentMemberpacw:VentureCapitalLoansMember2023-03-310001102112pacw:ClassifiedMemberus-gaap:CommercialPortfolioSegmentMemberpacw:OtherCommercialMember2023-03-310001102112us-gaap:CommercialPortfolioSegmentMemberpacw:OtherCommercialMemberus-gaap:SpecialMentionMember2023-03-310001102112us-gaap:PassMemberus-gaap:CommercialPortfolioSegmentMemberpacw:OtherCommercialMember2023-03-310001102112pacw:ClassifiedMemberus-gaap:CommercialPortfolioSegmentMember2023-03-310001102112us-gaap:CommercialPortfolioSegmentMemberus-gaap:SpecialMentionMember2023-03-310001102112us-gaap:PassMemberus-gaap:CommercialPortfolioSegmentMember2023-03-310001102112pacw:ClassifiedMemberus-gaap:ConsumerPortfolioSegmentMember2023-03-310001102112us-gaap:ConsumerPortfolioSegmentMemberus-gaap:SpecialMentionMember2023-03-310001102112us-gaap:PassMemberus-gaap:ConsumerPortfolioSegmentMember2023-03-310001102112pacw:ClassifiedMember2023-03-310001102112us-gaap:SpecialMentionMember2023-03-310001102112us-gaap:PassMember2023-03-310001102112pacw:ClassifiedMemberus-gaap:MortgagesMemberus-gaap:CommercialRealEstateMember2022-12-310001102112us-gaap:MortgagesMemberus-gaap:CommercialRealEstateMemberus-gaap:SpecialMentionMember2022-12-310001102112us-gaap:PassMemberus-gaap:MortgagesMemberus-gaap:CommercialRealEstateMember2022-12-310001102112pacw:ClassifiedMemberus-gaap:MortgagesMemberpacw:MultiFamilyRealEstateLoansMember2022-12-310001102112us-gaap:MortgagesMemberpacw:MultiFamilyRealEstateLoansMemberus-gaap:SpecialMentionMember2022-12-310001102112us-gaap:PassMemberus-gaap:MortgagesMemberpacw:MultiFamilyRealEstateLoansMember2022-12-310001102112pacw:OtherResidentialRealEstateMemberpacw:ClassifiedMemberus-gaap:MortgagesMember2022-12-310001102112pacw:OtherResidentialRealEstateMemberus-gaap:MortgagesMemberus-gaap:SpecialMentionMember2022-12-310001102112pacw:OtherResidentialRealEstateMemberus-gaap:PassMemberus-gaap:MortgagesMember2022-12-310001102112pacw:ClassifiedMemberus-gaap:MortgagesMember2022-12-310001102112us-gaap:MortgagesMemberus-gaap:SpecialMentionMember2022-12-310001102112us-gaap:PassMemberus-gaap:MortgagesMember2022-12-310001102112pacw:ClassifiedMemberpacw:CommercialRealEstateConstructionLoanReceivableMemberpacw:RealEstateConstructionMember2022-12-310001102112pacw:CommercialRealEstateConstructionLoanReceivableMemberus-gaap:SpecialMentionMemberpacw:RealEstateConstructionMember2022-12-310001102112us-gaap:PassMemberpacw:CommercialRealEstateConstructionLoanReceivableMemberpacw:RealEstateConstructionMember2022-12-310001102112pacw:ClassifiedMemberpacw:ResidentialRealEstateConstructionFinancingReceivableMemberpacw:RealEstateConstructionMember2022-12-310001102112pacw:ResidentialRealEstateConstructionFinancingReceivableMemberus-gaap:SpecialMentionMemberpacw:RealEstateConstructionMember2022-12-310001102112us-gaap:PassMemberpacw:ResidentialRealEstateConstructionFinancingReceivableMemberpacw:RealEstateConstructionMember2022-12-310001102112pacw:ClassifiedMemberpacw:RealEstateConstructionMember2022-12-310001102112us-gaap:SpecialMentionMemberpacw:RealEstateConstructionMember2022-12-310001102112us-gaap:PassMemberpacw:RealEstateConstructionMember2022-12-310001102112pacw:ClassifiedMemberus-gaap:CommercialPortfolioSegmentMemberpacw:AssetBasedMember2022-12-310001102112us-gaap:CommercialPortfolioSegmentMemberpacw:AssetBasedMemberus-gaap:SpecialMentionMember2022-12-310001102112us-gaap:PassMemberus-gaap:CommercialPortfolioSegmentMemberpacw:AssetBasedMember2022-12-310001102112pacw:ClassifiedMemberus-gaap:CommercialPortfolioSegmentMemberpacw:VentureCapitalLoansMember2022-12-310001102112us-gaap:CommercialPortfolioSegmentMemberus-gaap:SpecialMentionMemberpacw:VentureCapitalLoansMember2022-12-310001102112us-gaap:PassMemberus-gaap:CommercialPortfolioSegmentMemberpacw:VentureCapitalLoansMember2022-12-310001102112pacw:ClassifiedMemberus-gaap:CommercialPortfolioSegmentMemberpacw:OtherCommercialMember2022-12-310001102112us-gaap:CommercialPortfolioSegmentMemberpacw:OtherCommercialMemberus-gaap:SpecialMentionMember2022-12-310001102112us-gaap:PassMemberus-gaap:CommercialPortfolioSegmentMemberpacw:OtherCommercialMember2022-12-310001102112pacw:ClassifiedMemberus-gaap:CommercialPortfolioSegmentMember2022-12-310001102112us-gaap:CommercialPortfolioSegmentMemberus-gaap:SpecialMentionMember2022-12-310001102112us-gaap:PassMemberus-gaap:CommercialPortfolioSegmentMember2022-12-310001102112pacw:ClassifiedMemberus-gaap:ConsumerPortfolioSegmentMember2022-12-310001102112us-gaap:ConsumerPortfolioSegmentMemberus-gaap:SpecialMentionMember2022-12-310001102112us-gaap:PassMemberus-gaap:ConsumerPortfolioSegmentMember2022-12-310001102112pacw:ClassifiedMember2022-12-310001102112us-gaap:SpecialMentionMember2022-12-310001102112us-gaap:PassMember2022-12-310001102112pacw:NonPurchasedCreditImpairedLoansAndLeasesMember2022-12-310001102112us-gaap:MortgagesMemberpacw:FinanceReceivableAllowanceMemberus-gaap:CommercialRealEstateMember2023-03-310001102112us-gaap:MortgagesMemberpacw:FinanceReceivableAllowanceMemberus-gaap:CommercialRealEstateMember2023-01-012023-03-310001102112us-gaap:MortgagesMemberpacw:FinanceReceivableAllowanceMemberus-gaap:CommercialRealEstateMember2022-03-310001102112us-gaap:MortgagesMemberpacw:FinanceReceivableAllowanceMemberus-gaap:CommercialRealEstateMember2022-01-012022-03-310001102112us-gaap:MortgagesMemberpacw:FinanceReceivableAllowanceMemberpacw:MultiFamilyRealEstateLoansMember2023-03-310001102112us-gaap:MortgagesMemberpacw:FinanceReceivableAllowanceMemberpacw:MultiFamilyRealEstateLoansMember2023-01-012023-03-310001102112us-gaap:MortgagesMemberpacw:FinanceReceivableAllowanceMemberpacw:MultiFamilyRealEstateLoansMember2022-03-310001102112us-gaap:MortgagesMemberpacw:FinanceReceivableAllowanceMemberpacw:MultiFamilyRealEstateLoansMember2022-01-012022-03-310001102112pacw:OtherResidentialRealEstateMemberus-gaap:MortgagesMemberpacw:FinanceReceivableAllowanceMember2023-03-310001102112pacw:OtherResidentialRealEstateMemberus-gaap:MortgagesMemberpacw:FinanceReceivableAllowanceMember2023-01-012023-03-310001102112pacw:OtherResidentialRealEstateMemberus-gaap:MortgagesMemberpacw:FinanceReceivableAllowanceMember2022-03-310001102112pacw:OtherResidentialRealEstateMemberus-gaap:MortgagesMemberpacw:FinanceReceivableAllowanceMember2022-01-012022-03-310001102112pacw:FinanceReceivableAllowanceMemberpacw:CommercialRealEstateConstructionLoanReceivableMemberpacw:RealEstateConstructionMember2023-03-310001102112pacw:FinanceReceivableAllowanceMemberpacw:CommercialRealEstateConstructionLoanReceivableMemberpacw:RealEstateConstructionMember2023-01-012023-03-310001102112pacw:FinanceReceivableAllowanceMemberpacw:CommercialRealEstateConstructionLoanReceivableMemberpacw:RealEstateConstructionMember2022-03-310001102112pacw:FinanceReceivableAllowanceMemberpacw:CommercialRealEstateConstructionLoanReceivableMemberpacw:RealEstateConstructionMember2022-01-012022-03-310001102112pacw:ResidentialRealEstateConstructionFinancingReceivableMemberpacw:FinanceReceivableAllowanceMemberpacw:RealEstateConstructionMember2023-03-310001102112pacw:ResidentialRealEstateConstructionFinancingReceivableMemberpacw:FinanceReceivableAllowanceMemberpacw:RealEstateConstructionMember2023-01-012023-03-310001102112pacw:ResidentialRealEstateConstructionFinancingReceivableMemberpacw:FinanceReceivableAllowanceMemberpacw:RealEstateConstructionMember2022-03-310001102112pacw:ResidentialRealEstateConstructionFinancingReceivableMemberpacw:FinanceReceivableAllowanceMemberpacw:RealEstateConstructionMember2022-01-012022-03-310001102112us-gaap:CommercialPortfolioSegmentMemberpacw:FinanceReceivableAllowanceMemberpacw:AssetBasedMember2023-03-310001102112us-gaap:CommercialPortfolioSegmentMemberpacw:FinanceReceivableAllowanceMemberpacw:AssetBasedMember2023-01-012023-03-310001102112us-gaap:CommercialPortfolioSegmentMemberpacw:FinanceReceivableAllowanceMemberpacw:AssetBasedMember2022-03-310001102112us-gaap:CommercialPortfolioSegmentMemberpacw:FinanceReceivableAllowanceMemberpacw:AssetBasedMember2022-01-012022-03-310001102112us-gaap:CommercialPortfolioSegmentMemberpacw:FinanceReceivableAllowanceMemberpacw:VentureCapitalLoansMember2023-03-310001102112us-gaap:CommercialPortfolioSegmentMemberpacw:FinanceReceivableAllowanceMemberpacw:VentureCapitalLoansMember2023-01-012023-03-310001102112us-gaap:CommercialPortfolioSegmentMemberpacw:FinanceReceivableAllowanceMemberpacw:VentureCapitalLoansMember2022-03-310001102112us-gaap:CommercialPortfolioSegmentMemberpacw:FinanceReceivableAllowanceMemberpacw:VentureCapitalLoansMember2022-01-012022-03-310001102112us-gaap:CommercialPortfolioSegmentMemberpacw:FinanceReceivableAllowanceMemberpacw:OtherCommercialMember2023-03-310001102112us-gaap:CommercialPortfolioSegmentMemberpacw:FinanceReceivableAllowanceMemberpacw:OtherCommercialMember2023-01-012023-03-310001102112us-gaap:CommercialPortfolioSegmentMemberpacw:FinanceReceivableAllowanceMemberpacw:OtherCommercialMember2022-03-310001102112us-gaap:CommercialPortfolioSegmentMemberpacw:FinanceReceivableAllowanceMemberpacw:OtherCommercialMember2022-01-012022-03-310001102112us-gaap:ConsumerPortfolioSegmentMemberpacw:FinanceReceivableAllowanceMember2023-03-310001102112us-gaap:ConsumerPortfolioSegmentMemberpacw:FinanceReceivableAllowanceMember2023-01-012023-03-310001102112us-gaap:ConsumerPortfolioSegmentMemberpacw:FinanceReceivableAllowanceMember2022-03-310001102112us-gaap:ConsumerPortfolioSegmentMemberpacw:FinanceReceivableAllowanceMember2022-01-012022-03-310001102112pacw:NoFinanceReceivableAllowanceMemberus-gaap:MortgagesMemberus-gaap:CommercialRealEstateMember2023-01-012023-03-310001102112us-gaap:MortgagesMemberus-gaap:CommercialRealEstateMember2022-03-310001102112pacw:NoFinanceReceivableAllowanceMemberus-gaap:MortgagesMemberus-gaap:CommercialRealEstateMember2022-01-012022-03-310001102112pacw:NoFinanceReceivableAllowanceMemberus-gaap:MortgagesMemberpacw:MultiFamilyRealEstateLoansMember2023-01-012023-03-310001102112us-gaap:MortgagesMemberpacw:MultiFamilyRealEstateLoansMember2022-03-310001102112pacw:NoFinanceReceivableAllowanceMemberus-gaap:MortgagesMemberpacw:MultiFamilyRealEstateLoansMember2022-01-012022-03-310001102112pacw:OtherResidentialRealEstateMemberpacw:NoFinanceReceivableAllowanceMemberus-gaap:MortgagesMember2023-01-012023-03-310001102112pacw:OtherResidentialRealEstateMemberus-gaap:MortgagesMember2022-03-310001102112pacw:OtherResidentialRealEstateMemberpacw:NoFinanceReceivableAllowanceMemberus-gaap:MortgagesMember2022-01-012022-03-310001102112pacw:NoFinanceReceivableAllowanceMemberpacw:CommercialRealEstateConstructionLoanReceivableMemberpacw:RealEstateConstructionMember2023-01-012023-03-310001102112pacw:CommercialRealEstateConstructionLoanReceivableMemberpacw:RealEstateConstructionMember2022-03-310001102112pacw:NoFinanceReceivableAllowanceMemberpacw:CommercialRealEstateConstructionLoanReceivableMemberpacw:RealEstateConstructionMember2022-01-012022-03-310001102112pacw:NoFinanceReceivableAllowanceMemberpacw:ResidentialRealEstateConstructionFinancingReceivableMemberpacw:RealEstateConstructionMember2023-01-012023-03-310001102112pacw:ResidentialRealEstateConstructionFinancingReceivableMemberpacw:RealEstateConstructionMember2022-03-310001102112pacw:NoFinanceReceivableAllowanceMemberpacw:ResidentialRealEstateConstructionFinancingReceivableMemberpacw:RealEstateConstructionMember2022-01-012022-03-310001102112pacw:NoFinanceReceivableAllowanceMemberus-gaap:CommercialPortfolioSegmentMemberpacw:AssetBasedMember2023-01-012023-03-310001102112us-gaap:CommercialPortfolioSegmentMemberpacw:AssetBasedMember2022-03-310001102112pacw:NoFinanceReceivableAllowanceMemberus-gaap:CommercialPortfolioSegmentMemberpacw:AssetBasedMember2022-01-012022-03-310001102112pacw:NoFinanceReceivableAllowanceMemberus-gaap:CommercialPortfolioSegmentMemberpacw:VentureCapitalLoansMember2023-01-012023-03-310001102112us-gaap:CommercialPortfolioSegmentMemberpacw:VentureCapitalLoansMember2022-03-310001102112pacw:NoFinanceReceivableAllowanceMemberus-gaap:CommercialPortfolioSegmentMemberpacw:VentureCapitalLoansMember2022-01-012022-03-310001102112pacw:OtherCommercialMember2023-03-310001102112pacw:NoFinanceReceivableAllowanceMemberpacw:OtherCommercialMember2023-01-012023-03-310001102112pacw:OtherCommercialMember2022-03-310001102112pacw:NoFinanceReceivableAllowanceMemberpacw:OtherCommercialMember2022-01-012022-03-310001102112pacw:NoFinanceReceivableAllowanceMemberus-gaap:ConsumerPortfolioSegmentMember2023-03-310001102112pacw:NoFinanceReceivableAllowanceMemberus-gaap:ConsumerPortfolioSegmentMember2023-01-012023-03-310001102112pacw:NoFinanceReceivableAllowanceMemberus-gaap:ConsumerPortfolioSegmentMember2022-03-310001102112pacw:NoFinanceReceivableAllowanceMemberus-gaap:ConsumerPortfolioSegmentMember2022-01-012022-03-310001102112us-gaap:MortgagesMember2023-01-012023-03-310001102112us-gaap:MortgagesMember2022-03-310001102112us-gaap:MortgagesMember2022-01-012022-03-310001102112pacw:RealEstateConstructionMember2023-01-012023-03-310001102112pacw:RealEstateConstructionMember2022-03-310001102112pacw:RealEstateConstructionMember2022-01-012022-03-310001102112us-gaap:CommercialPortfolioSegmentMember2023-01-012023-03-310001102112us-gaap:CommercialPortfolioSegmentMember2022-03-310001102112us-gaap:CommercialPortfolioSegmentMember2022-01-012022-03-310001102112us-gaap:ConsumerPortfolioSegmentMember2023-01-012023-03-310001102112us-gaap:ConsumerPortfolioSegmentMember2022-03-310001102112us-gaap:ConsumerPortfolioSegmentMember2022-01-012022-03-310001102112us-gaap:MortgagesMemberpacw:A12HighPassMemberus-gaap:CommercialRealEstateMemberpacw:TermLoansByOriginationDateMemberpacw:OriginationDate2021Member2023-03-310001102112us-gaap:MortgagesMemberpacw:A12HighPassMemberpacw:OriginationDate2020Memberus-gaap:CommercialRealEstateMemberpacw:TermLoansByOriginationDateMember2023-03-310001102112us-gaap:MortgagesMemberpacw:A12HighPassMemberus-gaap:CommercialRealEstateMemberpacw:TermLoansByOriginationDateMemberpacw:OriginationDate2019Member2023-03-310001102112pacw:OriginationDate2018Memberus-gaap:MortgagesMemberpacw:A12HighPassMemberus-gaap:CommercialRealEstateMemberpacw:TermLoansByOriginationDateMember2023-03-310001102112us-gaap:MortgagesMemberpacw:A12HighPassMemberus-gaap:CommercialRealEstateMemberpacw:TermLoansByOriginationDateMemberpacw:OriginationDate2017Member2023-03-310001102112us-gaap:MortgagesMemberpacw:PriorMemberpacw:A12HighPassMemberus-gaap:CommercialRealEstateMemberpacw:TermLoansByOriginationDateMember2023-03-310001102112us-gaap:RevolvingCreditFacilityMemberus-gaap:MortgagesMemberpacw:A12HighPassMemberus-gaap:CommercialRealEstateMember2023-03-310001102112us-gaap:MortgagesMemberpacw:A12HighPassMemberus-gaap:CommercialRealEstateMemberpacw:RevolvingConvertedToTermLoanMember2023-03-310001102112us-gaap:MortgagesMemberpacw:A12HighPassMemberus-gaap:CommercialRealEstateMember2023-03-310001102112us-gaap:MortgagesMemberus-gaap:CommercialRealEstateMemberpacw:TermLoansByOriginationDateMemberpacw:OriginationDate2021Memberpacw:A34PassMember2023-03-310001102112us-gaap:MortgagesMemberpacw:OriginationDate2020Memberus-gaap:CommercialRealEstateMemberpacw:TermLoansByOriginationDateMemberpacw:A34PassMember2023-03-310001102112us-gaap:MortgagesMemberus-gaap:CommercialRealEstateMemberpacw:TermLoansByOriginationDateMemberpacw:A34PassMemberpacw:OriginationDate2019Member2023-03-310001102112pacw:OriginationDate2018Memberus-gaap:MortgagesMemberus-gaap:CommercialRealEstateMemberpacw:TermLoansByOriginationDateMemberpacw:A34PassMember2023-03-310001102112us-gaap:MortgagesMemberus-gaap:CommercialRealEstateMemberpacw:TermLoansByOriginationDateMemberpacw:A34PassMemberpacw:OriginationDate2017Member2023-03-310001102112us-gaap:MortgagesMemberpacw:PriorMemberus-gaap:CommercialRealEstateMemberpacw:TermLoansByOriginationDateMemberpacw:A34PassMember2023-03-310001102112us-gaap:RevolvingCreditFacilityMemberus-gaap:MortgagesMemberus-gaap:CommercialRealEstateMemberpacw:A34PassMember2023-03-310001102112us-gaap:MortgagesMemberus-gaap:CommercialRealEstateMemberpacw:A34PassMemberpacw:RevolvingConvertedToTermLoanMember2023-03-310001102112us-gaap:MortgagesMemberus-gaap:CommercialRealEstateMemberpacw:A34PassMember2023-03-310001102112us-gaap:MortgagesMemberus-gaap:CommercialRealEstateMemberpacw:TermLoansByOriginationDateMemberpacw:OriginationDate2021Memberpacw:A5SpecialMentionMember2023-03-310001102112us-gaap:MortgagesMemberpacw:OriginationDate2020Memberus-gaap:CommercialRealEstateMemberpacw:TermLoansByOriginationDateMemberpacw:A5SpecialMentionMember2023-03-310001102112us-gaap:MortgagesMemberus-gaap:CommercialRealEstateMemberpacw:TermLoansByOriginationDateMemberpacw:A5SpecialMentionMemberpacw:OriginationDate2019Member2023-03-310001102112pacw:OriginationDate2018Memberus-gaap:MortgagesMemberus-gaap:CommercialRealEstateMemberpacw:TermLoansByOriginationDateMemberpacw:A5SpecialMentionMember2023-03-310001102112us-gaap:MortgagesMemberus-gaap:CommercialRealEstateMemberpacw:TermLoansByOriginationDateMemberpacw:A5SpecialMentionMemberpacw:OriginationDate2017Member2023-03-310001102112us-gaap:MortgagesMemberpacw:PriorMemberus-gaap:CommercialRealEstateMemberpacw:TermLoansByOriginationDateMemberpacw:A5SpecialMentionMember2023-03-310001102112us-gaap:RevolvingCreditFacilityMemberus-gaap:MortgagesMemberus-gaap:CommercialRealEstateMemberpacw:A5SpecialMentionMember2023-03-310001102112us-gaap:MortgagesMemberus-gaap:CommercialRealEstateMemberpacw:RevolvingConvertedToTermLoanMemberpacw:A5SpecialMentionMember2023-03-310001102112us-gaap:MortgagesMemberus-gaap:CommercialRealEstateMemberpacw:A5SpecialMentionMember2023-03-310001102112us-gaap:MortgagesMemberpacw:A68ClassifiedMemberus-gaap:CommercialRealEstateMemberpacw:TermLoansByOriginationDateMemberpacw:OriginationDate2021Member2023-03-310001102112us-gaap:MortgagesMemberpacw:OriginationDate2020Memberpacw:A68ClassifiedMemberus-gaap:CommercialRealEstateMemberpacw:TermLoansByOriginationDateMember2023-03-310001102112us-gaap:MortgagesMemberpacw:A68ClassifiedMemberus-gaap:CommercialRealEstateMemberpacw:TermLoansByOriginationDateMemberpacw:OriginationDate2019Member2023-03-310001102112pacw:OriginationDate2018Memberus-gaap:MortgagesMemberpacw:A68ClassifiedMemberus-gaap:CommercialRealEstateMemberpacw:TermLoansByOriginationDateMember2023-03-310001102112us-gaap:MortgagesMemberpacw:A68ClassifiedMemberus-gaap:CommercialRealEstateMemberpacw:TermLoansByOriginationDateMemberpacw:OriginationDate2017Member2023-03-310001102112us-gaap:MortgagesMemberpacw:PriorMemberpacw:A68ClassifiedMemberus-gaap:CommercialRealEstateMemberpacw:TermLoansByOriginationDateMember2023-03-310001102112us-gaap:RevolvingCreditFacilityMemberus-gaap:MortgagesMemberpacw:A68ClassifiedMemberus-gaap:CommercialRealEstateMember2023-03-310001102112us-gaap:MortgagesMemberpacw:A68ClassifiedMemberus-gaap:CommercialRealEstateMemberpacw:RevolvingConvertedToTermLoanMember2023-03-310001102112us-gaap:MortgagesMemberpacw:A68ClassifiedMemberus-gaap:CommercialRealEstateMember2023-03-310001102112us-gaap:MortgagesMemberus-gaap:CommercialRealEstateMemberpacw:TermLoansByOriginationDateMemberpacw:OriginationDate2021Member2023-03-310001102112us-gaap:MortgagesMemberpacw:OriginationDate2020Memberus-gaap:CommercialRealEstateMemberpacw:TermLoansByOriginationDateMember2023-03-310001102112us-gaap:MortgagesMemberus-gaap:CommercialRealEstateMemberpacw:TermLoansByOriginationDateMemberpacw:OriginationDate2019Member2023-03-310001102112pacw:OriginationDate2018Memberus-gaap:MortgagesMemberus-gaap:CommercialRealEstateMemberpacw:TermLoansByOriginationDateMember2023-03-310001102112us-gaap:MortgagesMemberus-gaap:CommercialRealEstateMemberpacw:TermLoansByOriginationDateMemberpacw:OriginationDate2017Member2023-03-310001102112us-gaap:MortgagesMemberpacw:PriorMemberus-gaap:CommercialRealEstateMemberpacw:TermLoansByOriginationDateMember2023-03-310001102112us-gaap:RevolvingCreditFacilityMemberus-gaap:MortgagesMemberus-gaap:CommercialRealEstateMember2023-03-310001102112us-gaap:MortgagesMemberus-gaap:CommercialRealEstateMemberpacw:RevolvingConvertedToTermLoanMember2023-03-310001102112us-gaap:MortgagesMemberus-gaap:CommercialRealEstateMemberpacw:TermLoansByOriginationDateMemberpacw:OriginationDate2021Member2023-01-012023-03-310001102112us-gaap:MortgagesMemberpacw:OriginationDate2020Memberus-gaap:CommercialRealEstateMemberpacw:TermLoansByOriginationDateMember2023-01-012023-03-310001102112us-gaap:MortgagesMemberus-gaap:CommercialRealEstateMemberpacw:TermLoansByOriginationDateMemberpacw:OriginationDate2019Member2023-01-012023-03-310001102112pacw:OriginationDate2018Memberus-gaap:MortgagesMemberus-gaap:CommercialRealEstateMemberpacw:TermLoansByOriginationDateMember2023-01-012023-03-310001102112us-gaap:MortgagesMemberus-gaap:CommercialRealEstateMemberpacw:TermLoansByOriginationDateMemberpacw:OriginationDate2017Member2023-01-012023-03-310001102112us-gaap:MortgagesMemberpacw:PriorMemberus-gaap:CommercialRealEstateMemberpacw:TermLoansByOriginationDateMember2023-01-012023-03-310001102112us-gaap:RevolvingCreditFacilityMemberus-gaap:MortgagesMemberus-gaap:CommercialRealEstateMember2023-01-012023-03-310001102112us-gaap:MortgagesMemberus-gaap:CommercialRealEstateMemberpacw:RevolvingConvertedToTermLoanMember2023-01-012023-03-310001102112us-gaap:MortgagesMemberus-gaap:CommercialRealEstateMember2023-01-012023-03-310001102112us-gaap:MortgagesMemberpacw:A12HighPassMemberpacw:MultiFamilyRealEstateLoansMemberpacw:TermLoansByOriginationDateMemberpacw:OriginationDate2021Member2023-03-310001102112us-gaap:MortgagesMemberpacw:A12HighPassMemberpacw:OriginationDate2020Memberpacw:MultiFamilyRealEstateLoansMemberpacw:TermLoansByOriginationDateMember2023-03-310001102112us-gaap:MortgagesMemberpacw:A12HighPassMemberpacw:MultiFamilyRealEstateLoansMemberpacw:TermLoansByOriginationDateMemberpacw:OriginationDate2019Member2023-03-310001102112pacw:OriginationDate2018Memberus-gaap:MortgagesMemberpacw:A12HighPassMemberpacw:MultiFamilyRealEstateLoansMemberpacw:TermLoansByOriginationDateMember2023-03-310001102112us-gaap:MortgagesMemberpacw:A12HighPassMemberpacw:MultiFamilyRealEstateLoansMemberpacw:TermLoansByOriginationDateMemberpacw:OriginationDate2017Member2023-03-310001102112us-gaap:MortgagesMemberpacw:PriorMemberpacw:A12HighPassMemberpacw:MultiFamilyRealEstateLoansMemberpacw:TermLoansByOriginationDateMember2023-03-310001102112us-gaap:RevolvingCreditFacilityMemberus-gaap:MortgagesMemberpacw:A12HighPassMemberpacw:MultiFamilyRealEstateLoansMember2023-03-310001102112us-gaap:MortgagesMemberpacw:A12HighPassMemberpacw:MultiFamilyRealEstateLoansMemberpacw:RevolvingConvertedToTermLoanMember2023-03-310001102112us-gaap:MortgagesMemberpacw:A12HighPassMemberpacw:MultiFamilyRealEstateLoansMember2023-03-310001102112us-gaap:MortgagesMemberpacw:MultiFamilyRealEstateLoansMemberpacw:TermLoansByOriginationDateMemberpacw:OriginationDate2021Memberpacw:A34PassMember2023-03-310001102112us-gaap:MortgagesMemberpacw:OriginationDate2020Memberpacw:MultiFamilyRealEstateLoansMemberpacw:TermLoansByOriginationDateMemberpacw:A34PassMember2023-03-310001102112us-gaap:MortgagesMemberpacw:MultiFamilyRealEstateLoansMemberpacw:TermLoansByOriginationDateMemberpacw:A34PassMemberpacw:OriginationDate2019Member2023-03-310001102112pacw:OriginationDate2018Memberus-gaap:MortgagesMemberpacw:MultiFamilyRealEstateLoansMemberpacw:TermLoansByOriginationDateMemberpacw:A34PassMember2023-03-310001102112us-gaap:MortgagesMemberpacw:MultiFamilyRealEstateLoansMemberpacw:TermLoansByOriginationDateMemberpacw:A34PassMemberpacw:OriginationDate2017Member2023-03-310001102112us-gaap:MortgagesMemberpacw:PriorMemberpacw:MultiFamilyRealEstateLoansMemberpacw:TermLoansByOriginationDateMemberpacw:A34PassMember2023-03-310001102112us-gaap:RevolvingCreditFacilityMemberus-gaap:MortgagesMemberpacw:MultiFamilyRealEstateLoansMemberpacw:A34PassMember2023-03-310001102112us-gaap:MortgagesMemberpacw:MultiFamilyRealEstateLoansMemberpacw:A34PassMemberpacw:RevolvingConvertedToTermLoanMember2023-03-310001102112us-gaap:MortgagesMemberpacw:MultiFamilyRealEstateLoansMemberpacw:A34PassMember2023-03-310001102112us-gaap:MortgagesMemberpacw:MultiFamilyRealEstateLoansMemberpacw:TermLoansByOriginationDateMemberpacw:OriginationDate2021Memberpacw:A5SpecialMentionMember2023-03-310001102112us-gaap:MortgagesMemberpacw:OriginationDate2020Memberpacw:MultiFamilyRealEstateLoansMemberpacw:TermLoansByOriginationDateMemberpacw:A5SpecialMentionMember2023-03-310001102112us-gaap:MortgagesMemberpacw:MultiFamilyRealEstateLoansMemberpacw:TermLoansByOriginationDateMemberpacw:A5SpecialMentionMemberpacw:OriginationDate2019Member2023-03-310001102112pacw:OriginationDate2018Memberus-gaap:MortgagesMemberpacw:MultiFamilyRealEstateLoansMemberpacw:TermLoansByOriginationDateMemberpacw:A5SpecialMentionMember2023-03-310001102112us-gaap:MortgagesMemberpacw:MultiFamilyRealEstateLoansMemberpacw:TermLoansByOriginationDateMemberpacw:A5SpecialMentionMemberpacw:OriginationDate2017Member2023-03-310001102112us-gaap:MortgagesMemberpacw:PriorMemberpacw:MultiFamilyRealEstateLoansMemberpacw:TermLoansByOriginationDateMemberpacw:A5SpecialMentionMember2023-03-310001102112us-gaap:RevolvingCreditFacilityMemberus-gaap:MortgagesMemberpacw:MultiFamilyRealEstateLoansMemberpacw:A5SpecialMentionMember2023-03-310001102112us-gaap:MortgagesMemberpacw:MultiFamilyRealEstateLoansMemberpacw:RevolvingConvertedToTermLoanMemberpacw:A5SpecialMentionMember2023-03-310001102112us-gaap:MortgagesMemberpacw:MultiFamilyRealEstateLoansMemberpacw:A5SpecialMentionMember2023-03-310001102112us-gaap:MortgagesMemberpacw:MultiFamilyRealEstateLoansMemberpacw:A68ClassifiedMemberpacw:TermLoansByOriginationDateMemberpacw:OriginationDate2021Member2023-03-310001102112us-gaap:MortgagesMemberpacw:OriginationDate2020Memberpacw:MultiFamilyRealEstateLoansMemberpacw:A68ClassifiedMemberpacw:TermLoansByOriginationDateMember2023-03-310001102112us-gaap:MortgagesMemberpacw:MultiFamilyRealEstateLoansMemberpacw:A68ClassifiedMemberpacw:TermLoansByOriginationDateMemberpacw:OriginationDate2019Member2023-03-310001102112pacw:OriginationDate2018Memberus-gaap:MortgagesMemberpacw:MultiFamilyRealEstateLoansMemberpacw:A68ClassifiedMemberpacw:TermLoansByOriginationDateMember2023-03-310001102112us-gaap:MortgagesMemberpacw:MultiFamilyRealEstateLoansMemberpacw:A68ClassifiedMemberpacw:TermLoansByOriginationDateMemberpacw:OriginationDate2017Member2023-03-310001102112us-gaap:MortgagesMemberpacw:PriorMemberpacw:MultiFamilyRealEstateLoansMemberpacw:A68ClassifiedMemberpacw:TermLoansByOriginationDateMember2023-03-310001102112us-gaap:RevolvingCreditFacilityMemberus-gaap:MortgagesMemberpacw:A68ClassifiedMemberpacw:MultiFamilyRealEstateLoansMember2023-03-310001102112us-gaap:MortgagesMemberpacw:A68ClassifiedMemberpacw:MultiFamilyRealEstateLoansMemberpacw:RevolvingConvertedToTermLoanMember2023-03-310001102112us-gaap:MortgagesMemberpacw:A68ClassifiedMemberpacw:MultiFamilyRealEstateLoansMember2023-03-310001102112us-gaap:MortgagesMemberpacw:MultiFamilyRealEstateLoansMemberpacw:TermLoansByOriginationDateMemberpacw:OriginationDate2021Member2023-03-310001102112us-gaap:MortgagesMemberpacw:OriginationDate2020Memberpacw:MultiFamilyRealEstateLoansMemberpacw:TermLoansByOriginationDateMember2023-03-310001102112us-gaap:MortgagesMemberpacw:MultiFamilyRealEstateLoansMemberpacw:TermLoansByOriginationDateMemberpacw:OriginationDate2019Member2023-03-310001102112pacw:OriginationDate2018Memberus-gaap:MortgagesMemberpacw:MultiFamilyRealEstateLoansMemberpacw:TermLoansByOriginationDateMember2023-03-310001102112us-gaap:MortgagesMemberpacw:MultiFamilyRealEstateLoansMemberpacw:TermLoansByOriginationDateMemberpacw:OriginationDate2017Member2023-03-310001102112us-gaap:MortgagesMemberpacw:PriorMemberpacw:MultiFamilyRealEstateLoansMemberpacw:TermLoansByOriginationDateMember2023-03-310001102112us-gaap:RevolvingCreditFacilityMemberus-gaap:MortgagesMemberpacw:MultiFamilyRealEstateLoansMember2023-03-310001102112us-gaap:MortgagesMemberpacw:MultiFamilyRealEstateLoansMemberpacw:RevolvingConvertedToTermLoanMember2023-03-310001102112us-gaap:MortgagesMemberpacw:MultiFamilyRealEstateLoansMemberpacw:TermLoansByOriginationDateMemberpacw:OriginationDate2021Member2023-01-012023-03-310001102112us-gaap:MortgagesMemberpacw:OriginationDate2020Memberpacw:MultiFamilyRealEstateLoansMemberpacw:TermLoansByOriginationDateMember2023-01-012023-03-310001102112us-gaap:MortgagesMemberpacw:MultiFamilyRealEstateLoansMemberpacw:TermLoansByOriginationDateMemberpacw:OriginationDate2019Member2023-01-012023-03-310001102112pacw:OriginationDate2018Memberus-gaap:MortgagesMemberpacw:MultiFamilyRealEstateLoansMemberpacw:TermLoansByOriginationDateMember2023-01-012023-03-310001102112us-gaap:MortgagesMemberpacw:MultiFamilyRealEstateLoansMemberpacw:TermLoansByOriginationDateMemberpacw:OriginationDate2017Member2023-01-012023-03-310001102112us-gaap:MortgagesMemberpacw:PriorMemberpacw:MultiFamilyRealEstateLoansMemberpacw:TermLoansByOriginationDateMember2023-01-012023-03-310001102112us-gaap:RevolvingCreditFacilityMemberus-gaap:MortgagesMemberpacw:MultiFamilyRealEstateLoansMember2023-01-012023-03-310001102112us-gaap:MortgagesMemberpacw:MultiFamilyRealEstateLoansMemberpacw:RevolvingConvertedToTermLoanMember2023-01-012023-03-310001102112us-gaap:MortgagesMemberpacw:MultiFamilyRealEstateLoansMember2023-01-012023-03-310001102112pacw:OtherResidentialRealEstateMemberus-gaap:MortgagesMemberpacw:A12HighPassMemberpacw:TermLoansByOriginationDateMemberpacw:OriginationDate2021Member2023-03-310001102112pacw:OtherResidentialRealEstateMemberus-gaap:MortgagesMemberpacw:A12HighPassMemberpacw:OriginationDate2020Memberpacw:TermLoansByOriginationDateMember2023-03-310001102112pacw:OtherResidentialRealEstateMemberus-gaap:MortgagesMemberpacw:A12HighPassMemberpacw:TermLoansByOriginationDateMemberpacw:OriginationDate2019Member2023-03-310001102112pacw:OtherResidentialRealEstateMemberpacw:OriginationDate2018Memberus-gaap:MortgagesMemberpacw:A12HighPassMemberpacw:TermLoansByOriginationDateMember2023-03-310001102112pacw:OtherResidentialRealEstateMemberus-gaap:MortgagesMemberpacw:A12HighPassMemberpacw:TermLoansByOriginationDateMemberpacw:OriginationDate2017Member2023-03-310001102112pacw:OtherResidentialRealEstateMemberus-gaap:MortgagesMemberpacw:PriorMemberpacw:A12HighPassMemberpacw:TermLoansByOriginationDateMember2023-03-310001102112pacw:OtherResidentialRealEstateMemberus-gaap:RevolvingCreditFacilityMemberus-gaap:MortgagesMemberpacw:A12HighPassMember2023-03-310001102112pacw:OtherResidentialRealEstateMemberus-gaap:MortgagesMemberpacw:A12HighPassMemberpacw:RevolvingConvertedToTermLoanMember2023-03-310001102112pacw:OtherResidentialRealEstateMemberus-gaap:MortgagesMemberpacw:A12HighPassMember2023-03-310001102112pacw:OtherResidentialRealEstateMemberus-gaap:MortgagesMemberpacw:TermLoansByOriginationDateMemberpacw:OriginationDate2021Memberpacw:A34PassMember2023-03-310001102112pacw:OtherResidentialRealEstateMemberus-gaap:MortgagesMemberpacw:OriginationDate2020Memberpacw:TermLoansByOriginationDateMemberpacw:A34PassMember2023-03-310001102112pacw:OtherResidentialRealEstateMemberus-gaap:MortgagesMemberpacw:TermLoansByOriginationDateMemberpacw:A34PassMemberpacw:OriginationDate2019Member2023-03-310001102112pacw:OtherResidentialRealEstateMemberpacw:OriginationDate2018Memberus-gaap:MortgagesMemberpacw:TermLoansByOriginationDateMemberpacw:A34PassMember2023-03-310001102112pacw:OtherResidentialRealEstateMemberus-gaap:MortgagesMemberpacw:TermLoansByOriginationDateMemberpacw:A34PassMemberpacw:OriginationDate2017Member2023-03-310001102112pacw:OtherResidentialRealEstateMemberus-gaap:MortgagesMemberpacw:PriorMemberpacw:TermLoansByOriginationDateMemberpacw:A34PassMember2023-03-310001102112pacw:OtherResidentialRealEstateMemberus-gaap:RevolvingCreditFacilityMemberus-gaap:MortgagesMemberpacw:A34PassMember2023-03-310001102112pacw:OtherResidentialRealEstateMemberus-gaap:MortgagesMemberpacw:A34PassMemberpacw:RevolvingConvertedToTermLoanMember2023-03-310001102112pacw:OtherResidentialRealEstateMemberus-gaap:MortgagesMemberpacw:A34PassMember2023-03-310001102112pacw:OtherResidentialRealEstateMemberus-gaap:MortgagesMemberpacw:TermLoansByOriginationDateMemberpacw:OriginationDate2021Memberpacw:A5SpecialMentionMember2023-03-310001102112pacw:OtherResidentialRealEstateMemberus-gaap:MortgagesMemberpacw:OriginationDate2020Memberpacw:TermLoansByOriginationDateMemberpacw:A5SpecialMentionMember2023-03-310001102112pacw:OtherResidentialRealEstateMemberus-gaap:MortgagesMemberpacw:TermLoansByOriginationDateMemberpacw:A5SpecialMentionMemberpacw:OriginationDate2019Member2023-03-310001102112pacw:OtherResidentialRealEstateMemberpacw:OriginationDate2018Memberus-gaap:MortgagesMemberpacw:TermLoansByOriginationDateMemberpacw:A5SpecialMentionMember2023-03-310001102112pacw:OtherResidentialRealEstateMemberus-gaap:MortgagesMemberpacw:TermLoansByOriginationDateMemberpacw:A5SpecialMentionMemberpacw:OriginationDate2017Member2023-03-310001102112pacw:OtherResidentialRealEstateMemberus-gaap:MortgagesMemberpacw:PriorMemberpacw:TermLoansByOriginationDateMemberpacw:A5SpecialMentionMember2023-03-310001102112pacw:OtherResidentialRealEstateMemberus-gaap:RevolvingCreditFacilityMemberus-gaap:MortgagesMemberpacw:A5SpecialMentionMember2023-03-310001102112pacw:OtherResidentialRealEstateMemberus-gaap:MortgagesMemberpacw:RevolvingConvertedToTermLoanMemberpacw:A5SpecialMentionMember2023-03-310001102112pacw:OtherResidentialRealEstateMemberus-gaap:MortgagesMemberpacw:A5SpecialMentionMember2023-03-310001102112pacw:OtherResidentialRealEstateMemberus-gaap:MortgagesMemberpacw:A68ClassifiedMemberpacw:TermLoansByOriginationDateMemberpacw:OriginationDate2021Member2023-03-310001102112pacw:OtherResidentialRealEstateMemberus-gaap:MortgagesMemberpacw:OriginationDate2020Memberpacw:A68ClassifiedMemberpacw:TermLoansByOriginationDateMember2023-03-310001102112pacw:OtherResidentialRealEstateMemberus-gaap:MortgagesMemberpacw:A68ClassifiedMemberpacw:TermLoansByOriginationDateMemberpacw:OriginationDate2019Member2023-03-310001102112pacw:OtherResidentialRealEstateMemberpacw:OriginationDate2018Memberus-gaap:MortgagesMemberpacw:A68ClassifiedMemberpacw:TermLoansByOriginationDateMember2023-03-310001102112pacw:OtherResidentialRealEstateMemberus-gaap:MortgagesMemberpacw:A68ClassifiedMemberpacw:TermLoansByOriginationDateMemberpacw:OriginationDate2017Member2023-03-310001102112pacw:OtherResidentialRealEstateMemberus-gaap:MortgagesMemberpacw:PriorMemberpacw:A68ClassifiedMemberpacw:TermLoansByOriginationDateMember2023-03-310001102112pacw:OtherResidentialRealEstateMemberus-gaap:RevolvingCreditFacilityMemberus-gaap:MortgagesMemberpacw:A68ClassifiedMember2023-03-310001102112pacw:OtherResidentialRealEstateMemberus-gaap:MortgagesMemberpacw:A68ClassifiedMemberpacw:RevolvingConvertedToTermLoanMember2023-03-310001102112pacw:OtherResidentialRealEstateMemberus-gaap:MortgagesMemberpacw:A68ClassifiedMember2023-03-310001102112pacw:OtherResidentialRealEstateMemberus-gaap:MortgagesMemberpacw:TermLoansByOriginationDateMemberpacw:OriginationDate2021Member2023-03-310001102112pacw:OtherResidentialRealEstateMemberus-gaap:MortgagesMemberpacw:OriginationDate2020Memberpacw:TermLoansByOriginationDateMember2023-03-310001102112pacw:OtherResidentialRealEstateMemberus-gaap:MortgagesMemberpacw:TermLoansByOriginationDateMemberpacw:OriginationDate2019Member2023-03-310001102112pacw:OtherResidentialRealEstateMemberpacw:OriginationDate2018Memberus-gaap:MortgagesMemberpacw:TermLoansByOriginationDateMember2023-03-310001102112pacw:OtherResidentialRealEstateMemberus-gaap:MortgagesMemberpacw:TermLoansByOriginationDateMemberpacw:OriginationDate2017Member2023-03-310001102112pacw:OtherResidentialRealEstateMemberus-gaap:MortgagesMemberpacw:PriorMemberpacw:TermLoansByOriginationDateMember2023-03-310001102112pacw:OtherResidentialRealEstateMemberus-gaap:RevolvingCreditFacilityMemberus-gaap:MortgagesMember2023-03-310001102112pacw:OtherResidentialRealEstateMemberus-gaap:MortgagesMemberpacw:RevolvingConvertedToTermLoanMember2023-03-310001102112pacw:OtherResidentialRealEstateMemberus-gaap:MortgagesMemberpacw:TermLoansByOriginationDateMemberpacw:OriginationDate2021Member2023-01-012023-03-310001102112pacw:OtherResidentialRealEstateMemberus-gaap:MortgagesMemberpacw:OriginationDate2020Memberpacw:TermLoansByOriginationDateMember2023-01-012023-03-310001102112pacw:OtherResidentialRealEstateMemberus-gaap:MortgagesMemberpacw:TermLoansByOriginationDateMemberpacw:OriginationDate2019Member2023-01-012023-03-310001102112pacw:OtherResidentialRealEstateMemberpacw:OriginationDate2018Memberus-gaap:MortgagesMemberpacw:TermLoansByOriginationDateMember2023-01-012023-03-310001102112pacw:OtherResidentialRealEstateMemberus-gaap:MortgagesMemberpacw:TermLoansByOriginationDateMemberpacw:OriginationDate2017Member2023-01-012023-03-310001102112pacw:OtherResidentialRealEstateMemberus-gaap:MortgagesMemberpacw:PriorMemberpacw:TermLoansByOriginationDateMember2023-01-012023-03-310001102112pacw:OtherResidentialRealEstateMemberus-gaap:RevolvingCreditFacilityMemberus-gaap:MortgagesMember2023-01-012023-03-310001102112pacw:OtherResidentialRealEstateMemberus-gaap:MortgagesMemberpacw:RevolvingConvertedToTermLoanMember2023-01-012023-03-310001102112pacw:OtherResidentialRealEstateMemberus-gaap:MortgagesMember2023-01-012023-03-310001102112pacw:CommercialRealEstateConstructionLoanReceivableMemberpacw:A12HighPassMemberpacw:TermLoansByOriginationDateMemberpacw:OriginationDate2021Member2023-03-310001102112pacw:CommercialRealEstateConstructionLoanReceivableMemberpacw:A12HighPassMemberpacw:OriginationDate2020Memberpacw:TermLoansByOriginationDateMember2023-03-310001102112pacw:CommercialRealEstateConstructionLoanReceivableMemberpacw:A12HighPassMemberpacw:TermLoansByOriginationDateMemberpacw:OriginationDate2019Member2023-03-310001102112pacw:CommercialRealEstateConstructionLoanReceivableMemberpacw:OriginationDate2018Memberpacw:A12HighPassMemberpacw:TermLoansByOriginationDateMember2023-03-310001102112pacw:CommercialRealEstateConstructionLoanReceivableMemberpacw:A12HighPassMemberpacw:TermLoansByOriginationDateMemberpacw:OriginationDate2017Member2023-03-310001102112pacw:CommercialRealEstateConstructionLoanReceivableMemberpacw:PriorMemberpacw:A12HighPassMemberpacw:TermLoansByOriginationDateMember2023-03-310001102112pacw:CommercialRealEstateConstructionLoanReceivableMemberus-gaap:RevolvingCreditFacilityMemberpacw:A12HighPassMember2023-03-310001102112pacw:CommercialRealEstateConstructionLoanReceivableMemberpacw:A12HighPassMemberpacw:RevolvingConvertedToTermLoanMember2023-03-310001102112pacw:CommercialRealEstateConstructionLoanReceivableMemberpacw:A12HighPassMember2023-03-310001102112pacw:CommercialRealEstateConstructionLoanReceivableMemberpacw:TermLoansByOriginationDateMemberpacw:OriginationDate2021Memberpacw:A34PassMember2023-03-310001102112pacw:CommercialRealEstateConstructionLoanReceivableMemberpacw:OriginationDate2020Memberpacw:TermLoansByOriginationDateMemberpacw:A34PassMember2023-03-310001102112pacw:CommercialRealEstateConstructionLoanReceivableMemberpacw:TermLoansByOriginationDateMemberpacw:A34PassMemberpacw:OriginationDate2019Member2023-03-310001102112pacw:CommercialRealEstateConstructionLoanReceivableMemberpacw:OriginationDate2018Memberpacw:TermLoansByOriginationDateMemberpacw:A34PassMember2023-03-310001102112pacw:CommercialRealEstateConstructionLoanReceivableMemberpacw:TermLoansByOriginationDateMemberpacw:A34PassMemberpacw:OriginationDate2017Member2023-03-310001102112pacw:CommercialRealEstateConstructionLoanReceivableMemberpacw:PriorMemberpacw:TermLoansByOriginationDateMemberpacw:A34PassMember2023-03-310001102112pacw:CommercialRealEstateConstructionLoanReceivableMemberus-gaap:RevolvingCreditFacilityMemberpacw:A34PassMember2023-03-310001102112pacw:CommercialRealEstateConstructionLoanReceivableMemberpacw:A34PassMemberpacw:RevolvingConvertedToTermLoanMember2023-03-310001102112pacw:CommercialRealEstateConstructionLoanReceivableMemberpacw:A34PassMember2023-03-310001102112pacw:CommercialRealEstateConstructionLoanReceivableMemberpacw:TermLoansByOriginationDateMemberpacw:OriginationDate2021Memberpacw:A5SpecialMentionMember2023-03-310001102112pacw:CommercialRealEstateConstructionLoanReceivableMemberpacw:OriginationDate2020Memberpacw:TermLoansByOriginationDateMemberpacw:A5SpecialMentionMember2023-03-310001102112pacw:CommercialRealEstateConstructionLoanReceivableMemberpacw:TermLoansByOriginationDateMemberpacw:A5SpecialMentionMemberpacw:OriginationDate2019Member2023-03-310001102112pacw:CommercialRealEstateConstructionLoanReceivableMemberpacw:OriginationDate2018Memberpacw:TermLoansByOriginationDateMemberpacw:A5SpecialMentionMember2023-03-310001102112pacw:CommercialRealEstateConstructionLoanReceivableMemberpacw:TermLoansByOriginationDateMemberpacw:A5SpecialMentionMemberpacw:OriginationDate2017Member2023-03-310001102112pacw:CommercialRealEstateConstructionLoanReceivableMemberpacw:PriorMemberpacw:TermLoansByOriginationDateMemberpacw:A5SpecialMentionMember2023-03-310001102112pacw:CommercialRealEstateConstructionLoanReceivableMemberus-gaap:RevolvingCreditFacilityMemberpacw:A5SpecialMentionMember2023-03-310001102112pacw:CommercialRealEstateConstructionLoanReceivableMemberpacw:RevolvingConvertedToTermLoanMemberpacw:A5SpecialMentionMember2023-03-310001102112pacw:CommercialRealEstateConstructionLoanReceivableMemberpacw:A5SpecialMentionMember2023-03-310001102112pacw:CommercialRealEstateConstructionLoanReceivableMemberpacw:A68ClassifiedMemberpacw:TermLoansByOriginationDateMemberpacw:OriginationDate2021Member2023-03-310001102112pacw:CommercialRealEstateConstructionLoanReceivableMemberpacw:OriginationDate2020Memberpacw:A68ClassifiedMemberpacw:TermLoansByOriginationDateMember2023-03-310001102112pacw:CommercialRealEstateConstructionLoanReceivableMemberpacw:A68ClassifiedMemberpacw:TermLoansByOriginationDateMemberpacw:OriginationDate2019Member2023-03-310001102112pacw:CommercialRealEstateConstructionLoanReceivableMemberpacw:OriginationDate2018Memberpacw:A68ClassifiedMemberpacw:TermLoansByOriginationDateMember2023-03-310001102112pacw:CommercialRealEstateConstructionLoanReceivableMemberpacw:A68ClassifiedMemberpacw:TermLoansByOriginationDateMemberpacw:OriginationDate2017Member2023-03-310001102112pacw:CommercialRealEstateConstructionLoanReceivableMemberpacw:PriorMemberpacw:A68ClassifiedMemberpacw:TermLoansByOriginationDateMember2023-03-310001102112pacw:CommercialRealEstateConstructionLoanReceivableMemberus-gaap:RevolvingCreditFacilityMemberpacw:A68ClassifiedMember2023-03-310001102112pacw:CommercialRealEstateConstructionLoanReceivableMemberpacw:A68ClassifiedMemberpacw:RevolvingConvertedToTermLoanMember2023-03-310001102112pacw:CommercialRealEstateConstructionLoanReceivableMemberpacw:A68ClassifiedMember2023-03-310001102112pacw:CommercialRealEstateConstructionLoanReceivableMemberpacw:TermLoansByOriginationDateMemberpacw:OriginationDate2021Member2023-03-310001102112pacw:CommercialRealEstateConstructionLoanReceivableMemberpacw:OriginationDate2020Memberpacw:TermLoansByOriginationDateMember2023-03-310001102112pacw:CommercialRealEstateConstructionLoanReceivableMemberpacw:TermLoansByOriginationDateMemberpacw:OriginationDate2019Member2023-03-310001102112pacw:CommercialRealEstateConstructionLoanReceivableMemberpacw:OriginationDate2018Memberpacw:TermLoansByOriginationDateMember2023-03-310001102112pacw:CommercialRealEstateConstructionLoanReceivableMemberpacw:TermLoansByOriginationDateMemberpacw:OriginationDate2017Member2023-03-310001102112pacw:CommercialRealEstateConstructionLoanReceivableMemberpacw:PriorMemberpacw:TermLoansByOriginationDateMember2023-03-310001102112pacw:CommercialRealEstateConstructionLoanReceivableMemberus-gaap:RevolvingCreditFacilityMember2023-03-310001102112pacw:CommercialRealEstateConstructionLoanReceivableMemberpacw:RevolvingConvertedToTermLoanMember2023-03-310001102112pacw:CommercialRealEstateConstructionLoanReceivableMember2023-03-310001102112pacw:CommercialRealEstateConstructionLoanReceivableMemberpacw:TermLoansByOriginationDateMemberpacw:OriginationDate2021Member2023-01-012023-03-310001102112pacw:CommercialRealEstateConstructionLoanReceivableMemberpacw:OriginationDate2020Memberpacw:TermLoansByOriginationDateMember2023-01-012023-03-310001102112pacw:CommercialRealEstateConstructionLoanReceivableMemberpacw:TermLoansByOriginationDateMemberpacw:OriginationDate2019Member2023-01-012023-03-310001102112pacw:CommercialRealEstateConstructionLoanReceivableMemberpacw:OriginationDate2018Memberpacw:TermLoansByOriginationDateMember2023-01-012023-03-310001102112pacw:CommercialRealEstateConstructionLoanReceivableMemberpacw:TermLoansByOriginationDateMemberpacw:OriginationDate2017Member2023-01-012023-03-310001102112pacw:CommercialRealEstateConstructionLoanReceivableMemberpacw:PriorMemberpacw:TermLoansByOriginationDateMember2023-01-012023-03-310001102112pacw:CommercialRealEstateConstructionLoanReceivableMemberus-gaap:RevolvingCreditFacilityMember2023-01-012023-03-310001102112pacw:CommercialRealEstateConstructionLoanReceivableMemberpacw:RevolvingConvertedToTermLoanMember2023-01-012023-03-310001102112pacw:CommercialRealEstateConstructionLoanReceivableMember2023-01-012023-03-310001102112pacw:A12HighPassMemberpacw:TermLoansByOriginationDateMemberpacw:OriginationDate2021Memberpacw:ResidentialRealEstateConstructionFinancingReceivableMember2023-03-310001102112pacw:A12HighPassMemberpacw:OriginationDate2020Memberpacw:TermLoansByOriginationDateMemberpacw:ResidentialRealEstateConstructionFinancingReceivableMember2023-03-310001102112pacw:A12HighPassMemberpacw:TermLoansByOriginationDateMemberpacw:ResidentialRealEstateConstructionFinancingReceivableMemberpacw:OriginationDate2019Member2023-03-310001102112pacw:OriginationDate2018Memberpacw:A12HighPassMemberpacw:TermLoansByOriginationDateMemberpacw:ResidentialRealEstateConstructionFinancingReceivableMember2023-03-310001102112pacw:A12HighPassMemberpacw:TermLoansByOriginationDateMemberpacw:ResidentialRealEstateConstructionFinancingReceivableMemberpacw:OriginationDate2017Member2023-03-310001102112pacw:PriorMemberpacw:A12HighPassMemberpacw:TermLoansByOriginationDateMemberpacw:ResidentialRealEstateConstructionFinancingReceivableMember2023-03-310001102112us-gaap:RevolvingCreditFacilityMemberpacw:A12HighPassMemberpacw:ResidentialRealEstateConstructionFinancingReceivableMember2023-03-310001102112pacw:A12HighPassMemberpacw:RevolvingConvertedToTermLoanMemberpacw:ResidentialRealEstateConstructionFinancingReceivableMember2023-03-310001102112pacw:A12HighPassMemberpacw:ResidentialRealEstateConstructionFinancingReceivableMember2023-03-310001102112pacw:TermLoansByOriginationDateMemberpacw:OriginationDate2021Memberpacw:A34PassMemberpacw:ResidentialRealEstateConstructionFinancingReceivableMember2023-03-310001102112pacw:OriginationDate2020Memberpacw:TermLoansByOriginationDateMemberpacw:A34PassMemberpacw:ResidentialRealEstateConstructionFinancingReceivableMember2023-03-310001102112pacw:TermLoansByOriginationDateMemberpacw:A34PassMemberpacw:ResidentialRealEstateConstructionFinancingReceivableMemberpacw:OriginationDate2019Member2023-03-310001102112pacw:OriginationDate2018Memberpacw:TermLoansByOriginationDateMemberpacw:A34PassMemberpacw:ResidentialRealEstateConstructionFinancingReceivableMember2023-03-310001102112pacw:TermLoansByOriginationDateMemberpacw:A34PassMemberpacw:ResidentialRealEstateConstructionFinancingReceivableMemberpacw:OriginationDate2017Member2023-03-310001102112pacw:PriorMemberpacw:TermLoansByOriginationDateMemberpacw:A34PassMemberpacw:ResidentialRealEstateConstructionFinancingReceivableMember2023-03-310001102112us-gaap:RevolvingCreditFacilityMemberpacw:A34PassMemberpacw:ResidentialRealEstateConstructionFinancingReceivableMember2023-03-310001102112pacw:A34PassMemberpacw:RevolvingConvertedToTermLoanMemberpacw:ResidentialRealEstateConstructionFinancingReceivableMember2023-03-310001102112pacw:A34PassMemberpacw:ResidentialRealEstateConstructionFinancingReceivableMember2023-03-310001102112pacw:TermLoansByOriginationDateMemberpacw:OriginationDate2021Memberpacw:A5SpecialMentionMemberpacw:ResidentialRealEstateConstructionFinancingReceivableMember2023-03-310001102112pacw:OriginationDate2020Memberpacw:TermLoansByOriginationDateMemberpacw:A5SpecialMentionMemberpacw:ResidentialRealEstateConstructionFinancingReceivableMember2023-03-310001102112pacw:TermLoansByOriginationDateMemberpacw:A5SpecialMentionMemberpacw:ResidentialRealEstateConstructionFinancingReceivableMemberpacw:OriginationDate2019Member2023-03-310001102112pacw:OriginationDate2018Memberpacw:TermLoansByOriginationDateMemberpacw:A5SpecialMentionMemberpacw:ResidentialRealEstateConstructionFinancingReceivableMember2023-03-310001102112pacw:TermLoansByOriginationDateMemberpacw:A5SpecialMentionMemberpacw:ResidentialRealEstateConstructionFinancingReceivableMemberpacw:OriginationDate2017Member2023-03-310001102112pacw:PriorMemberpacw:TermLoansByOriginationDateMemberpacw:A5SpecialMentionMemberpacw:ResidentialRealEstateConstructionFinancingReceivableMember2023-03-310001102112us-gaap:RevolvingCreditFacilityMemberpacw:A5SpecialMentionMemberpacw:ResidentialRealEstateConstructionFinancingReceivableMember2023-03-310001102112pacw:RevolvingConvertedToTermLoanMemberpacw:A5SpecialMentionMemberpacw:ResidentialRealEstateConstructionFinancingReceivableMember2023-03-310001102112pacw:A5SpecialMentionMemberpacw:ResidentialRealEstateConstructionFinancingReceivableMember2023-03-310001102112pacw:A68ClassifiedMemberpacw:TermLoansByOriginationDateMemberpacw:OriginationDate2021Memberpacw:ResidentialRealEstateConstructionFinancingReceivableMember2023-03-310001102112pacw:OriginationDate2020Memberpacw:A68ClassifiedMemberpacw:TermLoansByOriginationDateMemberpacw:ResidentialRealEstateConstructionFinancingReceivableMember2023-03-310001102112pacw:A68ClassifiedMemberpacw:TermLoansByOriginationDateMemberpacw:ResidentialRealEstateConstructionFinancingReceivableMemberpacw:OriginationDate2019Member2023-03-310001102112pacw:OriginationDate2018Memberpacw:A68ClassifiedMemberpacw:TermLoansByOriginationDateMemberpacw:ResidentialRealEstateConstructionFinancingReceivableMember2023-03-310001102112pacw:A68ClassifiedMemberpacw:TermLoansByOriginationDateMemberpacw:ResidentialRealEstateConstructionFinancingReceivableMemberpacw:OriginationDate2017Member2023-03-310001102112pacw:PriorMemberpacw:A68ClassifiedMemberpacw:TermLoansByOriginationDateMemberpacw:ResidentialRealEstateConstructionFinancingReceivableMember2023-03-310001102112us-gaap:RevolvingCreditFacilityMemberpacw:A68ClassifiedMemberpacw:ResidentialRealEstateConstructionFinancingReceivableMember2023-03-310001102112pacw:A68ClassifiedMemberpacw:RevolvingConvertedToTermLoanMemberpacw:ResidentialRealEstateConstructionFinancingReceivableMember2023-03-310001102112pacw:A68ClassifiedMemberpacw:ResidentialRealEstateConstructionFinancingReceivableMember2023-03-310001102112pacw:TermLoansByOriginationDateMemberpacw:OriginationDate2021Memberpacw:ResidentialRealEstateConstructionFinancingReceivableMember2023-03-310001102112pacw:OriginationDate2020Memberpacw:TermLoansByOriginationDateMemberpacw:ResidentialRealEstateConstructionFinancingReceivableMember2023-03-310001102112pacw:TermLoansByOriginationDateMemberpacw:ResidentialRealEstateConstructionFinancingReceivableMemberpacw:OriginationDate2019Member2023-03-310001102112pacw:OriginationDate2018Memberpacw:TermLoansByOriginationDateMemberpacw:ResidentialRealEstateConstructionFinancingReceivableMember2023-03-310001102112pacw:TermLoansByOriginationDateMemberpacw:ResidentialRealEstateConstructionFinancingReceivableMemberpacw:OriginationDate2017Member2023-03-310001102112pacw:PriorMemberpacw:TermLoansByOriginationDateMemberpacw:ResidentialRealEstateConstructionFinancingReceivableMember2023-03-310001102112us-gaap:RevolvingCreditFacilityMemberpacw:ResidentialRealEstateConstructionFinancingReceivableMember2023-03-310001102112pacw:RevolvingConvertedToTermLoanMemberpacw:ResidentialRealEstateConstructionFinancingReceivableMember2023-03-310001102112pacw:ResidentialRealEstateConstructionFinancingReceivableMember2023-03-310001102112pacw:TermLoansByOriginationDateMemberpacw:OriginationDate2021Memberpacw:ResidentialRealEstateConstructionFinancingReceivableMember2023-01-012023-03-310001102112pacw:OriginationDate2020Memberpacw:TermLoansByOriginationDateMemberpacw:ResidentialRealEstateConstructionFinancingReceivableMember2023-01-012023-03-310001102112pacw:TermLoansByOriginationDateMemberpacw:ResidentialRealEstateConstructionFinancingReceivableMemberpacw:OriginationDate2019Member2023-01-012023-03-310001102112pacw:OriginationDate2018Memberpacw:TermLoansByOriginationDateMemberpacw:ResidentialRealEstateConstructionFinancingReceivableMember2023-01-012023-03-310001102112pacw:TermLoansByOriginationDateMemberpacw:ResidentialRealEstateConstructionFinancingReceivableMemberpacw:OriginationDate2017Member2023-01-012023-03-310001102112pacw:PriorMemberpacw:TermLoansByOriginationDateMemberpacw:ResidentialRealEstateConstructionFinancingReceivableMember2023-01-012023-03-310001102112us-gaap:RevolvingCreditFacilityMemberpacw:ResidentialRealEstateConstructionFinancingReceivableMember2023-01-012023-03-310001102112pacw:RevolvingConvertedToTermLoanMemberpacw:ResidentialRealEstateConstructionFinancingReceivableMember2023-01-012023-03-310001102112pacw:ResidentialRealEstateConstructionFinancingReceivableMember2023-01-012023-03-310001102112pacw:A12HighPassMemberus-gaap:CommercialPortfolioSegmentMemberpacw:AssetBasedMemberpacw:TermLoansByOriginationDateMemberpacw:OriginationDate2021Member2023-03-310001102112pacw:A12HighPassMemberus-gaap:CommercialPortfolioSegmentMemberpacw:OriginationDate2020Memberpacw:AssetBasedMemberpacw:TermLoansByOriginationDateMember2023-03-310001102112pacw:A12HighPassMemberus-gaap:CommercialPortfolioSegmentMemberpacw:AssetBasedMemberpacw:TermLoansByOriginationDateMemberpacw:OriginationDate2019Member2023-03-310001102112pacw:OriginationDate2018Memberpacw:A12HighPassMemberus-gaap:CommercialPortfolioSegmentMemberpacw:AssetBasedMemberpacw:TermLoansByOriginationDateMember2023-03-310001102112pacw:A12HighPassMemberus-gaap:CommercialPortfolioSegmentMemberpacw:AssetBasedMemberpacw:TermLoansByOriginationDateMemberpacw:OriginationDate2017Member2023-03-310001102112pacw:PriorMemberpacw:A12HighPassMemberus-gaap:CommercialPortfolioSegmentMemberpacw:AssetBasedMemberpacw:TermLoansByOriginationDateMember2023-03-310001102112us-gaap:RevolvingCreditFacilityMemberpacw:A12HighPassMemberus-gaap:CommercialPortfolioSegmentMemberpacw:AssetBasedMember2023-03-310001102112pacw:A12HighPassMemberus-gaap:CommercialPortfolioSegmentMemberpacw:AssetBasedMemberpacw:RevolvingConvertedToTermLoanMember2023-03-310001102112pacw:A12HighPassMemberus-gaap:CommercialPortfolioSegmentMemberpacw:AssetBasedMember2023-03-310001102112us-gaap:CommercialPortfolioSegmentMemberpacw:AssetBasedMemberpacw:TermLoansByOriginationDateMemberpacw:OriginationDate2021Memberpacw:A34PassMember2023-03-310001102112us-gaap:CommercialPortfolioSegmentMemberpacw:OriginationDate2020Memberpacw:AssetBasedMemberpacw:TermLoansByOriginationDateMemberpacw:A34PassMember2023-03-310001102112us-gaap:CommercialPortfolioSegmentMemberpacw:AssetBasedMemberpacw:TermLoansByOriginationDateMemberpacw:A34PassMemberpacw:OriginationDate2019Member2023-03-310001102112pacw:OriginationDate2018Memberus-gaap:CommercialPortfolioSegmentMemberpacw:AssetBasedMemberpacw:TermLoansByOriginationDateMemberpacw:A34PassMember2023-03-310001102112us-gaap:CommercialPortfolioSegmentMemberpacw:AssetBasedMemberpacw:TermLoansByOriginationDateMemberpacw:A34PassMemberpacw:OriginationDate2017Member2023-03-310001102112pacw:PriorMemberus-gaap:CommercialPortfolioSegmentMemberpacw:AssetBasedMemberpacw:TermLoansByOriginationDateMemberpacw:A34PassMember2023-03-310001102112us-gaap:RevolvingCreditFacilityMemberus-gaap:CommercialPortfolioSegmentMemberpacw:AssetBasedMemberpacw:A34PassMember2023-03-310001102112us-gaap:CommercialPortfolioSegmentMemberpacw:AssetBasedMemberpacw:A34PassMemberpacw:RevolvingConvertedToTermLoanMember2023-03-310001102112us-gaap:CommercialPortfolioSegmentMemberpacw:AssetBasedMemberpacw:A34PassMember2023-03-310001102112us-gaap:CommercialPortfolioSegmentMemberpacw:AssetBasedMemberpacw:TermLoansByOriginationDateMemberpacw:OriginationDate2021Memberpacw:A5SpecialMentionMember2023-03-310001102112us-gaap:CommercialPortfolioSegmentMemberpacw:OriginationDate2020Memberpacw:AssetBasedMemberpacw:TermLoansByOriginationDateMemberpacw:A5SpecialMentionMember2023-03-310001102112us-gaap:CommercialPortfolioSegmentMemberpacw:AssetBasedMemberpacw:TermLoansByOriginationDateMemberpacw:A5SpecialMentionMemberpacw:OriginationDate2019Member2023-03-310001102112pacw:OriginationDate2018Memberus-gaap:CommercialPortfolioSegmentMemberpacw:AssetBasedMemberpacw:TermLoansByOriginationDateMemberpacw:A5SpecialMentionMember2023-03-310001102112us-gaap:CommercialPortfolioSegmentMemberpacw:AssetBasedMemberpacw:TermLoansByOriginationDateMemberpacw:A5SpecialMentionMemberpacw:OriginationDate2017Member2023-03-310001102112pacw:PriorMemberus-gaap:CommercialPortfolioSegmentMemberpacw:AssetBasedMemberpacw:TermLoansByOriginationDateMemberpacw:A5SpecialMentionMember2023-03-310001102112us-gaap:RevolvingCreditFacilityMemberus-gaap:CommercialPortfolioSegmentMemberpacw:AssetBasedMemberpacw:A5SpecialMentionMember2023-03-310001102112us-gaap:CommercialPortfolioSegmentMemberpacw:AssetBasedMemberpacw:RevolvingConvertedToTermLoanMemberpacw:A5SpecialMentionMember2023-03-310001102112us-gaap:CommercialPortfolioSegmentMemberpacw:AssetBasedMemberpacw:A5SpecialMentionMember2023-03-310001102112us-gaap:CommercialPortfolioSegmentMemberpacw:A68ClassifiedMemberpacw:AssetBasedMemberpacw:TermLoansByOriginationDateMemberpacw:OriginationDate2021Member2023-03-310001102112us-gaap:CommercialPortfolioSegmentMemberpacw:OriginationDate2020Memberpacw:A68ClassifiedMemberpacw:AssetBasedMemberpacw:TermLoansByOriginationDateMember2023-03-310001102112us-gaap:CommercialPortfolioSegmentMemberpacw:A68ClassifiedMemberpacw:AssetBasedMemberpacw:TermLoansByOriginationDateMemberpacw:OriginationDate2019Member2023-03-310001102112pacw:OriginationDate2018Memberus-gaap:CommercialPortfolioSegmentMemberpacw:A68ClassifiedMemberpacw:AssetBasedMemberpacw:TermLoansByOriginationDateMember2023-03-310001102112us-gaap:CommercialPortfolioSegmentMemberpacw:A68ClassifiedMemberpacw:AssetBasedMemberpacw:TermLoansByOriginationDateMemberpacw:OriginationDate2017Member2023-03-310001102112pacw:PriorMemberus-gaap:CommercialPortfolioSegmentMemberpacw:A68ClassifiedMemberpacw:AssetBasedMemberpacw:TermLoansByOriginationDateMember2023-03-310001102112us-gaap:RevolvingCreditFacilityMemberus-gaap:CommercialPortfolioSegmentMemberpacw:A68ClassifiedMemberpacw:AssetBasedMember2023-03-310001102112us-gaap:CommercialPortfolioSegmentMemberpacw:A68ClassifiedMemberpacw:AssetBasedMemberpacw:RevolvingConvertedToTermLoanMember2023-03-310001102112us-gaap:CommercialPortfolioSegmentMemberpacw:A68ClassifiedMemberpacw:AssetBasedMember2023-03-310001102112us-gaap:CommercialPortfolioSegmentMemberpacw:AssetBasedMemberpacw:TermLoansByOriginationDateMemberpacw:OriginationDate2021Member2023-03-310001102112us-gaap:CommercialPortfolioSegmentMemberpacw:OriginationDate2020Memberpacw:AssetBasedMemberpacw:TermLoansByOriginationDateMember2023-03-310001102112us-gaap:CommercialPortfolioSegmentMemberpacw:AssetBasedMemberpacw:TermLoansByOriginationDateMemberpacw:OriginationDate2019Member2023-03-310001102112pacw:OriginationDate2018Memberus-gaap:CommercialPortfolioSegmentMemberpacw:AssetBasedMemberpacw:TermLoansByOriginationDateMember2023-03-310001102112us-gaap:CommercialPortfolioSegmentMemberpacw:AssetBasedMemberpacw:TermLoansByOriginationDateMemberpacw:OriginationDate2017Member2023-03-310001102112pacw:PriorMemberus-gaap:CommercialPortfolioSegmentMemberpacw:AssetBasedMemberpacw:TermLoansByOriginationDateMember2023-03-310001102112us-gaap:RevolvingCreditFacilityMemberus-gaap:CommercialPortfolioSegmentMemberpacw:AssetBasedMember2023-03-310001102112us-gaap:CommercialPortfolioSegmentMemberpacw:AssetBasedMemberpacw:RevolvingConvertedToTermLoanMember2023-03-310001102112us-gaap:CommercialPortfolioSegmentMemberpacw:AssetBasedMemberpacw:TermLoansByOriginationDateMemberpacw:OriginationDate2021Member2023-01-012023-03-310001102112us-gaap:CommercialPortfolioSegmentMemberpacw:OriginationDate2020Memberpacw:AssetBasedMemberpacw:TermLoansByOriginationDateMember2023-01-012023-03-310001102112us-gaap:CommercialPortfolioSegmentMemberpacw:AssetBasedMemberpacw:TermLoansByOriginationDateMemberpacw:OriginationDate2019Member2023-01-012023-03-310001102112pacw:OriginationDate2018Memberus-gaap:CommercialPortfolioSegmentMemberpacw:AssetBasedMemberpacw:TermLoansByOriginationDateMember2023-01-012023-03-310001102112us-gaap:CommercialPortfolioSegmentMemberpacw:AssetBasedMemberpacw:TermLoansByOriginationDateMemberpacw:OriginationDate2017Member2023-01-012023-03-310001102112pacw:PriorMemberus-gaap:CommercialPortfolioSegmentMemberpacw:AssetBasedMemberpacw:TermLoansByOriginationDateMember2023-01-012023-03-310001102112us-gaap:RevolvingCreditFacilityMemberus-gaap:CommercialPortfolioSegmentMemberpacw:AssetBasedMember2023-01-012023-03-310001102112us-gaap:CommercialPortfolioSegmentMemberpacw:AssetBasedMemberpacw:RevolvingConvertedToTermLoanMember2023-01-012023-03-310001102112us-gaap:CommercialPortfolioSegmentMemberpacw:AssetBasedMember2023-01-012023-03-310001102112pacw:A12HighPassMemberpacw:TermLoansByOriginationDateMemberpacw:OriginationDate2021Memberpacw:VentureCapitalLoansMemberpacw:VentureCapitalLoansMember2023-03-310001102112pacw:A12HighPassMemberpacw:OriginationDate2020Memberpacw:TermLoansByOriginationDateMemberpacw:VentureCapitalLoansMemberpacw:VentureCapitalLoansMember2023-03-310001102112pacw:A12HighPassMemberpacw:TermLoansByOriginationDateMemberpacw:OriginationDate2019Memberpacw:VentureCapitalLoansMemberpacw:VentureCapitalLoansMember2023-03-310001102112pacw:OriginationDate2018Memberpacw:A12HighPassMemberpacw:TermLoansByOriginationDateMemberpacw:VentureCapitalLoansMemberpacw:VentureCapitalLoansMember2023-03-310001102112pacw:A12HighPassMemberpacw:TermLoansByOriginationDateMemberpacw:OriginationDate2017Memberpacw:VentureCapitalLoansMemberpacw:VentureCapitalLoansMember2023-03-310001102112pacw:PriorMemberpacw:A12HighPassMemberpacw:TermLoansByOriginationDateMemberpacw:VentureCapitalLoansMemberpacw:VentureCapitalLoansMember2023-03-310001102112us-gaap:RevolvingCreditFacilityMemberpacw:A12HighPassMemberpacw:VentureCapitalLoansMemberpacw:VentureCapitalLoansMember2023-03-310001102112pacw:A12HighPassMemberpacw:RevolvingConvertedToTermLoanMemberpacw:VentureCapitalLoansMemberpacw:VentureCapitalLoansMember2023-03-310001102112pacw:A12HighPassMemberpacw:VentureCapitalLoansMemberpacw:VentureCapitalLoansMember2023-03-310001102112pacw:TermLoansByOriginationDateMemberpacw:OriginationDate2021Memberpacw:A34PassMemberpacw:VentureCapitalLoansMemberpacw:VentureCapitalLoansMember2023-03-310001102112pacw:OriginationDate2020Memberpacw:TermLoansByOriginationDateMemberpacw:A34PassMemberpacw:VentureCapitalLoansMemberpacw:VentureCapitalLoansMember2023-03-310001102112pacw:TermLoansByOriginationDateMemberpacw:A34PassMemberpacw:OriginationDate2019Memberpacw:VentureCapitalLoansMemberpacw:VentureCapitalLoansMember2023-03-310001102112pacw:OriginationDate2018Memberpacw:TermLoansByOriginationDateMemberpacw:A34PassMemberpacw:VentureCapitalLoansMemberpacw:VentureCapitalLoansMember2023-03-310001102112pacw:TermLoansByOriginationDateMemberpacw:A34PassMemberpacw:OriginationDate2017Memberpacw:VentureCapitalLoansMemberpacw:VentureCapitalLoansMember2023-03-310001102112pacw:PriorMemberpacw:TermLoansByOriginationDateMemberpacw:A34PassMemberpacw:VentureCapitalLoansMemberpacw:VentureCapitalLoansMember2023-03-310001102112us-gaap:RevolvingCreditFacilityMemberpacw:A34PassMemberpacw:VentureCapitalLoansMemberpacw:VentureCapitalLoansMember2023-03-310001102112pacw:A34PassMemberpacw:RevolvingConvertedToTermLoanMemberpacw:VentureCapitalLoansMemberpacw:VentureCapitalLoansMember2023-03-310001102112pacw:A34PassMemberpacw:VentureCapitalLoansMemberpacw:VentureCapitalLoansMember2023-03-310001102112pacw:TermLoansByOriginationDateMemberpacw:OriginationDate2021Memberpacw:A5SpecialMentionMemberpacw:VentureCapitalLoansMemberpacw:VentureCapitalLoansMember2023-03-310001102112pacw:OriginationDate2020Memberpacw:TermLoansByOriginationDateMemberpacw:A5SpecialMentionMemberpacw:VentureCapitalLoansMemberpacw:VentureCapitalLoansMember2023-03-310001102112pacw:TermLoansByOriginationDateMemberpacw:A5SpecialMentionMemberpacw:OriginationDate2019Memberpacw:VentureCapitalLoansMemberpacw:VentureCapitalLoansMember2023-03-310001102112pacw:OriginationDate2018Memberpacw:TermLoansByOriginationDateMemberpacw:A5SpecialMentionMemberpacw:VentureCapitalLoansMemberpacw:VentureCapitalLoansMember2023-03-310001102112pacw:TermLoansByOriginationDateMemberpacw:A5SpecialMentionMemberpacw:OriginationDate2017Memberpacw:VentureCapitalLoansMemberpacw:VentureCapitalLoansMember2023-03-310001102112pacw:PriorMemberpacw:TermLoansByOriginationDateMemberpacw:A5SpecialMentionMemberpacw:VentureCapitalLoansMemberpacw:VentureCapitalLoansMember2023-03-310001102112us-gaap:RevolvingCreditFacilityMemberpacw:A5SpecialMentionMemberpacw:VentureCapitalLoansMemberpacw:VentureCapitalLoansMember2023-03-310001102112pacw:RevolvingConvertedToTermLoanMemberpacw:A5SpecialMentionMemberpacw:VentureCapitalLoansMemberpacw:VentureCapitalLoansMember2023-03-310001102112pacw:A5SpecialMentionMemberpacw:VentureCapitalLoansMemberpacw:VentureCapitalLoansMember2023-03-310001102112pacw:A68ClassifiedMemberpacw:TermLoansByOriginationDateMemberpacw:OriginationDate2021Memberpacw:VentureCapitalLoansMemberpacw:VentureCapitalLoansMember2023-03-310001102112pacw:OriginationDate2020Memberpacw:A68ClassifiedMemberpacw:TermLoansByOriginationDateMemberpacw:VentureCapitalLoansMemberpacw:VentureCapitalLoansMember2023-03-310001102112pacw:A68ClassifiedMemberpacw:TermLoansByOriginationDateMemberpacw:OriginationDate2019Memberpacw:VentureCapitalLoansMemberpacw:VentureCapitalLoansMember2023-03-310001102112pacw:OriginationDate2018Memberpacw:A68ClassifiedMemberpacw:TermLoansByOriginationDateMemberpacw:VentureCapitalLoansMemberpacw:VentureCapitalLoansMember2023-03-310001102112pacw:A68ClassifiedMemberpacw:TermLoansByOriginationDateMemberpacw:OriginationDate2017Memberpacw:VentureCapitalLoansMemberpacw:VentureCapitalLoansMember2023-03-310001102112pacw:PriorMemberpacw:A68ClassifiedMemberpacw:TermLoansByOriginationDateMemberpacw:VentureCapitalLoansMemberpacw:VentureCapitalLoansMember2023-03-310001102112us-gaap:RevolvingCreditFacilityMemberpacw:A68ClassifiedMemberpacw:VentureCapitalLoansMemberpacw:VentureCapitalLoansMember2023-03-310001102112pacw:A68ClassifiedMemberpacw:RevolvingConvertedToTermLoanMemberpacw:VentureCapitalLoansMemberpacw:VentureCapitalLoansMember2023-03-310001102112pacw:A68ClassifiedMemberpacw:VentureCapitalLoansMemberpacw:VentureCapitalLoansMember2023-03-310001102112pacw:TermLoansByOriginationDateMemberpacw:OriginationDate2021Memberpacw:VentureCapitalLoansMemberpacw:VentureCapitalLoansMember2023-03-310001102112pacw:OriginationDate2020Memberpacw:TermLoansByOriginationDateMemberpacw:VentureCapitalLoansMemberpacw:VentureCapitalLoansMember2023-03-310001102112pacw:TermLoansByOriginationDateMemberpacw:OriginationDate2019Memberpacw:VentureCapitalLoansMemberpacw:VentureCapitalLoansMember2023-03-310001102112pacw:OriginationDate2018Memberpacw:TermLoansByOriginationDateMemberpacw:VentureCapitalLoansMemberpacw:VentureCapitalLoansMember2023-03-310001102112pacw:TermLoansByOriginationDateMemberpacw:OriginationDate2017Memberpacw:VentureCapitalLoansMemberpacw:VentureCapitalLoansMember2023-03-310001102112pacw:PriorMemberpacw:TermLoansByOriginationDateMemberpacw:VentureCapitalLoansMemberpacw:VentureCapitalLoansMember2023-03-310001102112us-gaap:RevolvingCreditFacilityMemberpacw:VentureCapitalLoansMemberpacw:VentureCapitalLoansMember2023-03-310001102112pacw:RevolvingConvertedToTermLoanMemberpacw:VentureCapitalLoansMemberpacw:VentureCapitalLoansMember2023-03-310001102112pacw:VentureCapitalLoansMemberpacw:VentureCapitalLoansMember2023-03-310001102112pacw:TermLoansByOriginationDateMemberpacw:OriginationDate2021Memberpacw:VentureCapitalLoansMemberpacw:VentureCapitalLoansMember2023-01-012023-03-310001102112pacw:OriginationDate2020Memberpacw:TermLoansByOriginationDateMemberpacw:VentureCapitalLoansMemberpacw:VentureCapitalLoansMember2023-01-012023-03-310001102112pacw:TermLoansByOriginationDateMemberpacw:OriginationDate2019Memberpacw:VentureCapitalLoansMemberpacw:VentureCapitalLoansMember2023-01-012023-03-310001102112pacw:OriginationDate2018Memberpacw:TermLoansByOriginationDateMemberpacw:VentureCapitalLoansMemberpacw:VentureCapitalLoansMember2023-01-012023-03-310001102112pacw:TermLoansByOriginationDateMemberpacw:OriginationDate2017Memberpacw:VentureCapitalLoansMemberpacw:VentureCapitalLoansMember2023-01-012023-03-310001102112pacw:PriorMemberpacw:TermLoansByOriginationDateMemberpacw:VentureCapitalLoansMemberpacw:VentureCapitalLoansMember2023-01-012023-03-310001102112us-gaap:RevolvingCreditFacilityMemberpacw:VentureCapitalLoansMemberpacw:VentureCapitalLoansMember2023-01-012023-03-310001102112pacw:RevolvingConvertedToTermLoanMemberpacw:VentureCapitalLoansMemberpacw:VentureCapitalLoansMember2023-01-012023-03-310001102112pacw:VentureCapitalLoansMemberpacw:VentureCapitalLoansMember2023-01-012023-03-310001102112pacw:A12HighPassMemberus-gaap:CommercialPortfolioSegmentMemberpacw:OtherCommercialMemberpacw:TermLoansByOriginationDateMemberpacw:OriginationDate2021Member2023-03-310001102112pacw:A12HighPassMemberus-gaap:CommercialPortfolioSegmentMemberpacw:OriginationDate2020Memberpacw:OtherCommercialMemberpacw:TermLoansByOriginationDateMember2023-03-310001102112pacw:A12HighPassMemberus-gaap:CommercialPortfolioSegmentMemberpacw:OtherCommercialMemberpacw:TermLoansByOriginationDateMemberpacw:OriginationDate2019Member2023-03-310001102112pacw:OriginationDate2018Memberpacw:A12HighPassMemberus-gaap:CommercialPortfolioSegmentMemberpacw:OtherCommercialMemberpacw:TermLoansByOriginationDateMember2023-03-310001102112pacw:A12HighPassMemberus-gaap:CommercialPortfolioSegmentMemberpacw:OtherCommercialMemberpacw:TermLoansByOriginationDateMemberpacw:OriginationDate2017Member2023-03-310001102112pacw:PriorMemberpacw:A12HighPassMemberus-gaap:CommercialPortfolioSegmentMemberpacw:OtherCommercialMemberpacw:TermLoansByOriginationDateMember2023-03-310001102112us-gaap:RevolvingCreditFacilityMemberpacw:A12HighPassMemberus-gaap:CommercialPortfolioSegmentMemberpacw:OtherCommercialMember2023-03-310001102112pacw:A12HighPassMemberus-gaap:CommercialPortfolioSegmentMemberpacw:OtherCommercialMemberpacw:RevolvingConvertedToTermLoanMember2023-03-310001102112pacw:A12HighPassMemberus-gaap:CommercialPortfolioSegmentMemberpacw:OtherCommercialMember2023-03-310001102112us-gaap:CommercialPortfolioSegmentMemberpacw:OtherCommercialMemberpacw:TermLoansByOriginationDateMemberpacw:OriginationDate2021Memberpacw:A34PassMember2023-03-310001102112us-gaap:CommercialPortfolioSegmentMemberpacw:OriginationDate2020Memberpacw:OtherCommercialMemberpacw:TermLoansByOriginationDateMemberpacw:A34PassMember2023-03-310001102112us-gaap:CommercialPortfolioSegmentMemberpacw:OtherCommercialMemberpacw:TermLoansByOriginationDateMemberpacw:A34PassMemberpacw:OriginationDate2019Member2023-03-310001102112pacw:OriginationDate2018Memberus-gaap:CommercialPortfolioSegmentMemberpacw:OtherCommercialMemberpacw:TermLoansByOriginationDateMemberpacw:A34PassMember2023-03-310001102112us-gaap:CommercialPortfolioSegmentMemberpacw:OtherCommercialMemberpacw:TermLoansByOriginationDateMemberpacw:A34PassMemberpacw:OriginationDate2017Member2023-03-310001102112pacw:PriorMemberus-gaap:CommercialPortfolioSegmentMemberpacw:OtherCommercialMemberpacw:TermLoansByOriginationDateMemberpacw:A34PassMember2023-03-310001102112us-gaap:RevolvingCreditFacilityMemberus-gaap:CommercialPortfolioSegmentMemberpacw:OtherCommercialMemberpacw:A34PassMember2023-03-310001102112us-gaap:CommercialPortfolioSegmentMemberpacw:OtherCommercialMemberpacw:A34PassMemberpacw:RevolvingConvertedToTermLoanMember2023-03-310001102112us-gaap:CommercialPortfolioSegmentMemberpacw:OtherCommercialMemberpacw:A34PassMember2023-03-310001102112us-gaap:CommercialPortfolioSegmentMemberpacw:OtherCommercialMemberpacw:TermLoansByOriginationDateMemberpacw:OriginationDate2021Memberpacw:A5SpecialMentionMember2023-03-310001102112us-gaap:CommercialPortfolioSegmentMemberpacw:OriginationDate2020Memberpacw:OtherCommercialMemberpacw:TermLoansByOriginationDateMemberpacw:A5SpecialMentionMember2023-03-310001102112us-gaap:CommercialPortfolioSegmentMemberpacw:OtherCommercialMemberpacw:TermLoansByOriginationDateMemberpacw:A5SpecialMentionMemberpacw:OriginationDate2019Member2023-03-310001102112pacw:OriginationDate2018Memberus-gaap:CommercialPortfolioSegmentMemberpacw:OtherCommercialMemberpacw:TermLoansByOriginationDateMemberpacw:A5SpecialMentionMember2023-03-310001102112us-gaap:CommercialPortfolioSegmentMemberpacw:OtherCommercialMemberpacw:TermLoansByOriginationDateMemberpacw:A5SpecialMentionMemberpacw:OriginationDate2017Member2023-03-310001102112pacw:PriorMemberus-gaap:CommercialPortfolioSegmentMemberpacw:OtherCommercialMemberpacw:TermLoansByOriginationDateMemberpacw:A5SpecialMentionMember2023-03-310001102112us-gaap:RevolvingCreditFacilityMemberus-gaap:CommercialPortfolioSegmentMemberpacw:OtherCommercialMemberpacw:A5SpecialMentionMember2023-03-310001102112us-gaap:CommercialPortfolioSegmentMemberpacw:OtherCommercialMemberpacw:RevolvingConvertedToTermLoanMemberpacw:A5SpecialMentionMember2023-03-310001102112us-gaap:CommercialPortfolioSegmentMemberpacw:OtherCommercialMemberpacw:A5SpecialMentionMember2023-03-310001102112us-gaap:CommercialPortfolioSegmentMemberpacw:OtherCommercialMemberpacw:A68ClassifiedMemberpacw:TermLoansByOriginationDateMemberpacw:OriginationDate2021Member2023-03-310001102112us-gaap:CommercialPortfolioSegmentMemberpacw:OriginationDate2020Memberpacw:OtherCommercialMemberpacw:A68ClassifiedMemberpacw:TermLoansByOriginationDateMember2023-03-310001102112us-gaap:CommercialPortfolioSegmentMemberpacw:OtherCommercialMemberpacw:A68ClassifiedMemberpacw:TermLoansByOriginationDateMemberpacw:OriginationDate2019Member2023-03-310001102112pacw:OriginationDate2018Memberus-gaap:CommercialPortfolioSegmentMemberpacw:OtherCommercialMemberpacw:A68ClassifiedMemberpacw:TermLoansByOriginationDateMember2023-03-310001102112us-gaap:CommercialPortfolioSegmentMemberpacw:OtherCommercialMemberpacw:A68ClassifiedMemberpacw:TermLoansByOriginationDateMemberpacw:OriginationDate2017Member2023-03-310001102112pacw:PriorMemberus-gaap:CommercialPortfolioSegmentMemberpacw:OtherCommercialMemberpacw:A68ClassifiedMemberpacw:TermLoansByOriginationDateMember2023-03-310001102112us-gaap:RevolvingCreditFacilityMemberus-gaap:CommercialPortfolioSegmentMemberpacw:OtherCommercialMemberpacw:A68ClassifiedMember2023-03-310001102112us-gaap:CommercialPortfolioSegmentMemberpacw:OtherCommercialMemberpacw:A68ClassifiedMemberpacw:RevolvingConvertedToTermLoanMember2023-03-310001102112us-gaap:CommercialPortfolioSegmentMemberpacw:OtherCommercialMemberpacw:A68ClassifiedMember2023-03-310001102112us-gaap:CommercialPortfolioSegmentMemberpacw:OtherCommercialMemberpacw:TermLoansByOriginationDateMemberpacw:OriginationDate2021Member2023-03-310001102112us-gaap:CommercialPortfolioSegmentMemberpacw:OriginationDate2020Memberpacw:OtherCommercialMemberpacw:TermLoansByOriginationDateMember2023-03-310001102112us-gaap:CommercialPortfolioSegmentMemberpacw:OtherCommercialMemberpacw:TermLoansByOriginationDateMemberpacw:OriginationDate2019Member2023-03-310001102112pacw:OriginationDate2018Memberus-gaap:CommercialPortfolioSegmentMemberpacw:OtherCommercialMemberpacw:TermLoansByOriginationDateMember2023-03-310001102112us-gaap:CommercialPortfolioSegmentMemberpacw:OtherCommercialMemberpacw:TermLoansByOriginationDateMemberpacw:OriginationDate2017Member2023-03-310001102112pacw:PriorMemberus-gaap:CommercialPortfolioSegmentMemberpacw:OtherCommercialMemberpacw:TermLoansByOriginationDateMember2023-03-310001102112us-gaap:RevolvingCreditFacilityMemberus-gaap:CommercialPortfolioSegmentMemberpacw:OtherCommercialMember2023-03-310001102112us-gaap:CommercialPortfolioSegmentMemberpacw:OtherCommercialMemberpacw:RevolvingConvertedToTermLoanMember2023-03-310001102112us-gaap:CommercialPortfolioSegmentMemberpacw:OtherCommercialMemberpacw:TermLoansByOriginationDateMemberpacw:OriginationDate2021Member2023-01-012023-03-310001102112us-gaap:CommercialPortfolioSegmentMemberpacw:OriginationDate2020Memberpacw:OtherCommercialMemberpacw:TermLoansByOriginationDateMember2023-01-012023-03-310001102112us-gaap:CommercialPortfolioSegmentMemberpacw:OtherCommercialMemberpacw:TermLoansByOriginationDateMemberpacw:OriginationDate2019Member2023-01-012023-03-310001102112pacw:OriginationDate2018Memberus-gaap:CommercialPortfolioSegmentMemberpacw:OtherCommercialMemberpacw:TermLoansByOriginationDateMember2023-01-012023-03-310001102112us-gaap:CommercialPortfolioSegmentMemberpacw:OtherCommercialMemberpacw:TermLoansByOriginationDateMemberpacw:OriginationDate2017Member2023-01-012023-03-310001102112pacw:PriorMemberus-gaap:CommercialPortfolioSegmentMemberpacw:OtherCommercialMemberpacw:TermLoansByOriginationDateMember2023-01-012023-03-310001102112us-gaap:RevolvingCreditFacilityMemberus-gaap:CommercialPortfolioSegmentMemberpacw:OtherCommercialMember2023-01-012023-03-310001102112us-gaap:CommercialPortfolioSegmentMemberpacw:OtherCommercialMemberpacw:RevolvingConvertedToTermLoanMember2023-01-012023-03-310001102112us-gaap:CommercialPortfolioSegmentMemberpacw:OtherCommercialMember2023-01-012023-03-310001102112pacw:A12HighPassMemberus-gaap:ConsumerPortfolioSegmentMemberpacw:TermLoansByOriginationDateMemberpacw:OriginationDate2021Member2023-03-310001102112pacw:A12HighPassMemberus-gaap:ConsumerPortfolioSegmentMemberpacw:OriginationDate2020Memberpacw:TermLoansByOriginationDateMember2023-03-310001102112pacw:A12HighPassMemberus-gaap:ConsumerPortfolioSegmentMemberpacw:TermLoansByOriginationDateMemberpacw:OriginationDate2019Member2023-03-310001102112pacw:OriginationDate2018Memberpacw:A12HighPassMemberus-gaap:ConsumerPortfolioSegmentMemberpacw:TermLoansByOriginationDateMember2023-03-310001102112pacw:A12HighPassMemberus-gaap:ConsumerPortfolioSegmentMemberpacw:TermLoansByOriginationDateMemberpacw:OriginationDate2017Member2023-03-310001102112pacw:PriorMemberpacw:A12HighPassMemberus-gaap:ConsumerPortfolioSegmentMemberpacw:TermLoansByOriginationDateMember2023-03-310001102112us-gaap:RevolvingCreditFacilityMemberpacw:A12HighPassMemberus-gaap:ConsumerPortfolioSegmentMember2023-03-310001102112pacw:A12HighPassMemberus-gaap:ConsumerPortfolioSegmentMemberpacw:RevolvingConvertedToTermLoanMember2023-03-310001102112pacw:A12HighPassMemberus-gaap:ConsumerPortfolioSegmentMember2023-03-310001102112us-gaap:ConsumerPortfolioSegmentMemberpacw:TermLoansByOriginationDateMemberpacw:OriginationDate2021Memberpacw:A34PassMember2023-03-310001102112us-gaap:ConsumerPortfolioSegmentMemberpacw:OriginationDate2020Memberpacw:TermLoansByOriginationDateMemberpacw:A34PassMember2023-03-310001102112us-gaap:ConsumerPortfolioSegmentMemberpacw:TermLoansByOriginationDateMemberpacw:A34PassMemberpacw:OriginationDate2019Member2023-03-310001102112pacw:OriginationDate2018Memberus-gaap:ConsumerPortfolioSegmentMemberpacw:TermLoansByOriginationDateMemberpacw:A34PassMember2023-03-310001102112us-gaap:ConsumerPortfolioSegmentMemberpacw:TermLoansByOriginationDateMemberpacw:A34PassMemberpacw:OriginationDate2017Member2023-03-310001102112pacw:PriorMemberus-gaap:ConsumerPortfolioSegmentMemberpacw:TermLoansByOriginationDateMemberpacw:A34PassMember2023-03-310001102112us-gaap:RevolvingCreditFacilityMemberus-gaap:ConsumerPortfolioSegmentMemberpacw:A34PassMember2023-03-310001102112us-gaap:ConsumerPortfolioSegmentMemberpacw:A34PassMemberpacw:RevolvingConvertedToTermLoanMember2023-03-310001102112us-gaap:ConsumerPortfolioSegmentMemberpacw:A34PassMember2023-03-310001102112us-gaap:ConsumerPortfolioSegmentMemberpacw:TermLoansByOriginationDateMemberpacw:OriginationDate2021Memberpacw:A5SpecialMentionMember2023-03-310001102112us-gaap:ConsumerPortfolioSegmentMemberpacw:OriginationDate2020Memberpacw:TermLoansByOriginationDateMemberpacw:A5SpecialMentionMember2023-03-310001102112us-gaap:ConsumerPortfolioSegmentMemberpacw:TermLoansByOriginationDateMemberpacw:A5SpecialMentionMemberpacw:OriginationDate2019Member2023-03-310001102112pacw:OriginationDate2018Memberus-gaap:ConsumerPortfolioSegmentMemberpacw:TermLoansByOriginationDateMemberpacw:A5SpecialMentionMember2023-03-310001102112us-gaap:ConsumerPortfolioSegmentMemberpacw:TermLoansByOriginationDateMemberpacw:A5SpecialMentionMemberpacw:OriginationDate2017Member2023-03-310001102112pacw:PriorMemberus-gaap:ConsumerPortfolioSegmentMemberpacw:TermLoansByOriginationDateMemberpacw:A5SpecialMentionMember2023-03-310001102112us-gaap:RevolvingCreditFacilityMemberus-gaap:ConsumerPortfolioSegmentMemberpacw:A5SpecialMentionMember2023-03-310001102112us-gaap:ConsumerPortfolioSegmentMemberpacw:RevolvingConvertedToTermLoanMemberpacw:A5SpecialMentionMember2023-03-310001102112us-gaap:ConsumerPortfolioSegmentMemberpacw:A5SpecialMentionMember2023-03-310001102112us-gaap:ConsumerPortfolioSegmentMemberpacw:A68ClassifiedMemberpacw:TermLoansByOriginationDateMemberpacw:OriginationDate2021Member2023-03-310001102112us-gaap:ConsumerPortfolioSegmentMemberpacw:OriginationDate2020Memberpacw:A68ClassifiedMemberpacw:TermLoansByOriginationDateMember2023-03-310001102112us-gaap:ConsumerPortfolioSegmentMemberpacw:A68ClassifiedMemberpacw:TermLoansByOriginationDateMemberpacw:OriginationDate2019Member2023-03-310001102112pacw:OriginationDate2018Memberus-gaap:ConsumerPortfolioSegmentMemberpacw:A68ClassifiedMemberpacw:TermLoansByOriginationDateMember2023-03-310001102112us-gaap:ConsumerPortfolioSegmentMemberpacw:A68ClassifiedMemberpacw:TermLoansByOriginationDateMemberpacw:OriginationDate2017Member2023-03-310001102112pacw:PriorMemberus-gaap:ConsumerPortfolioSegmentMemberpacw:A68ClassifiedMemberpacw:TermLoansByOriginationDateMember2023-03-310001102112us-gaap:RevolvingCreditFacilityMemberus-gaap:ConsumerPortfolioSegmentMemberpacw:A68ClassifiedMember2023-03-310001102112us-gaap:ConsumerPortfolioSegmentMemberpacw:A68ClassifiedMemberpacw:RevolvingConvertedToTermLoanMember2023-03-310001102112us-gaap:ConsumerPortfolioSegmentMemberpacw:A68ClassifiedMember2023-03-310001102112us-gaap:ConsumerPortfolioSegmentMemberpacw:TermLoansByOriginationDateMemberpacw:OriginationDate2021Member2023-03-310001102112us-gaap:ConsumerPortfolioSegmentMemberpacw:OriginationDate2020Memberpacw:TermLoansByOriginationDateMember2023-03-310001102112us-gaap:ConsumerPortfolioSegmentMemberpacw:TermLoansByOriginationDateMemberpacw:OriginationDate2019Member2023-03-310001102112pacw:OriginationDate2018Memberus-gaap:ConsumerPortfolioSegmentMemberpacw:TermLoansByOriginationDateMember2023-03-310001102112us-gaap:ConsumerPortfolioSegmentMemberpacw:TermLoansByOriginationDateMemberpacw:OriginationDate2017Member2023-03-310001102112pacw:PriorMemberus-gaap:ConsumerPortfolioSegmentMemberpacw:TermLoansByOriginationDateMember2023-03-310001102112us-gaap:RevolvingCreditFacilityMemberus-gaap:ConsumerPortfolioSegmentMember2023-03-310001102112us-gaap:ConsumerPortfolioSegmentMemberpacw:RevolvingConvertedToTermLoanMember2023-03-310001102112us-gaap:ConsumerPortfolioSegmentMemberpacw:TermLoansByOriginationDateMemberpacw:OriginationDate2021Member2023-01-012023-03-310001102112us-gaap:ConsumerPortfolioSegmentMemberpacw:OriginationDate2020Memberpacw:TermLoansByOriginationDateMember2023-01-012023-03-310001102112us-gaap:ConsumerPortfolioSegmentMemberpacw:TermLoansByOriginationDateMemberpacw:OriginationDate2019Member2023-01-012023-03-310001102112pacw:OriginationDate2018Memberus-gaap:ConsumerPortfolioSegmentMemberpacw:TermLoansByOriginationDateMember2023-01-012023-03-310001102112us-gaap:ConsumerPortfolioSegmentMemberpacw:TermLoansByOriginationDateMemberpacw:OriginationDate2017Member2023-01-012023-03-310001102112pacw:PriorMemberus-gaap:ConsumerPortfolioSegmentMemberpacw:TermLoansByOriginationDateMember2023-01-012023-03-310001102112us-gaap:RevolvingCreditFacilityMemberus-gaap:ConsumerPortfolioSegmentMember2023-01-012023-03-310001102112us-gaap:ConsumerPortfolioSegmentMemberpacw:RevolvingConvertedToTermLoanMember2023-01-012023-03-310001102112pacw:A12HighPassMemberpacw:TermLoansByOriginationDateMemberpacw:OriginationDate2021Member2023-03-310001102112pacw:A12HighPassMemberpacw:OriginationDate2020Memberpacw:TermLoansByOriginationDateMember2023-03-310001102112pacw:A12HighPassMemberpacw:TermLoansByOriginationDateMemberpacw:OriginationDate2019Member2023-03-310001102112pacw:OriginationDate2018Memberpacw:A12HighPassMemberpacw:TermLoansByOriginationDateMember2023-03-310001102112pacw:A12HighPassMemberpacw:TermLoansByOriginationDateMemberpacw:OriginationDate2017Member2023-03-310001102112pacw:PriorMemberpacw:A12HighPassMemberpacw:TermLoansByOriginationDateMember2023-03-310001102112us-gaap:RevolvingCreditFacilityMemberpacw:A12HighPassMember2023-03-310001102112pacw:A12HighPassMemberpacw:RevolvingConvertedToTermLoanMember2023-03-310001102112pacw:A12HighPassMember2023-03-310001102112pacw:TermLoansByOriginationDateMemberpacw:OriginationDate2021Memberpacw:A34PassMember2023-03-310001102112pacw:OriginationDate2020Memberpacw:TermLoansByOriginationDateMemberpacw:A34PassMember2023-03-310001102112pacw:TermLoansByOriginationDateMemberpacw:A34PassMemberpacw:OriginationDate2019Member2023-03-310001102112pacw:OriginationDate2018Memberpacw:TermLoansByOriginationDateMemberpacw:A34PassMember2023-03-310001102112pacw:TermLoansByOriginationDateMemberpacw:A34PassMemberpacw:OriginationDate2017Member2023-03-310001102112pacw:PriorMemberpacw:TermLoansByOriginationDateMemberpacw:A34PassMember2023-03-310001102112us-gaap:RevolvingCreditFacilityMemberpacw:A34PassMember2023-03-310001102112pacw:RevolvingConvertedToTermLoanMemberpacw:A34PassMember2023-03-310001102112pacw:A34PassMember2023-03-310001102112pacw:TermLoansByOriginationDateMemberpacw:OriginationDate2021Memberpacw:A5SpecialMentionMember2023-03-310001102112pacw:OriginationDate2020Memberpacw:TermLoansByOriginationDateMemberpacw:A5SpecialMentionMember2023-03-310001102112pacw:TermLoansByOriginationDateMemberpacw:A5SpecialMentionMemberpacw:OriginationDate2019Member2023-03-310001102112pacw:OriginationDate2018Memberpacw:TermLoansByOriginationDateMemberpacw:A5SpecialMentionMember2023-03-310001102112pacw:TermLoansByOriginationDateMemberpacw:A5SpecialMentionMemberpacw:OriginationDate2017Member2023-03-310001102112pacw:PriorMemberpacw:TermLoansByOriginationDateMemberpacw:A5SpecialMentionMember2023-03-310001102112us-gaap:RevolvingCreditFacilityMemberpacw:A5SpecialMentionMember2023-03-310001102112pacw:RevolvingConvertedToTermLoanMemberpacw:A5SpecialMentionMember2023-03-310001102112pacw:A5SpecialMentionMember2023-03-310001102112pacw:A68ClassifiedMemberpacw:TermLoansByOriginationDateMemberpacw:OriginationDate2021Member2023-03-310001102112pacw:OriginationDate2020Memberpacw:A68ClassifiedMemberpacw:TermLoansByOriginationDateMember2023-03-310001102112pacw:A68ClassifiedMemberpacw:TermLoansByOriginationDateMemberpacw:OriginationDate2019Member2023-03-310001102112pacw:OriginationDate2018Memberpacw:A68ClassifiedMemberpacw:TermLoansByOriginationDateMember2023-03-310001102112pacw:A68ClassifiedMemberpacw:TermLoansByOriginationDateMemberpacw:OriginationDate2017Member2023-03-310001102112pacw:PriorMemberpacw:A68ClassifiedMemberpacw:TermLoansByOriginationDateMember2023-03-310001102112us-gaap:RevolvingCreditFacilityMemberpacw:A68ClassifiedMember2023-03-310001102112pacw:A68ClassifiedMemberpacw:RevolvingConvertedToTermLoanMember2023-03-310001102112pacw:A68ClassifiedMember2023-03-310001102112pacw:TermLoansByOriginationDateMemberpacw:OriginationDate2021Member2023-03-310001102112pacw:OriginationDate2020Memberpacw:TermLoansByOriginationDateMember2023-03-310001102112pacw:TermLoansByOriginationDateMemberpacw:OriginationDate2019Member2023-03-310001102112pacw:OriginationDate2018Memberpacw:TermLoansByOriginationDateMember2023-03-310001102112pacw:TermLoansByOriginationDateMemberpacw:OriginationDate2017Member2023-03-310001102112pacw:PriorMemberpacw:TermLoansByOriginationDateMember2023-03-310001102112us-gaap:RevolvingCreditFacilityMember2023-03-310001102112pacw:RevolvingConvertedToTermLoanMember2023-03-310001102112pacw:TermLoansByOriginationDateMemberpacw:OriginationDate2021Member2023-01-012023-03-310001102112pacw:OriginationDate2020Memberpacw:TermLoansByOriginationDateMember2023-01-012023-03-310001102112pacw:TermLoansByOriginationDateMemberpacw:OriginationDate2019Member2023-01-012023-03-310001102112pacw:OriginationDate2018Memberpacw:TermLoansByOriginationDateMember2023-01-012023-03-310001102112pacw:TermLoansByOriginationDateMemberpacw:OriginationDate2017Member2023-01-012023-03-310001102112pacw:PriorMemberpacw:TermLoansByOriginationDateMember2023-01-012023-03-310001102112us-gaap:RevolvingCreditFacilityMember2023-01-012023-03-310001102112pacw:RevolvingConvertedToTermLoanMember2023-01-012023-03-310001102112us-gaap:MortgagesMemberpacw:A12HighPassMemberus-gaap:CommercialRealEstateMemberpacw:TermLoansByOriginationDateMemberpacw:OriginationDate2021Member2022-12-310001102112us-gaap:MortgagesMemberpacw:A12HighPassMemberpacw:OriginationDate2020Memberus-gaap:CommercialRealEstateMemberpacw:TermLoansByOriginationDateMember2022-12-310001102112us-gaap:MortgagesMemberpacw:A12HighPassMemberus-gaap:CommercialRealEstateMemberpacw:TermLoansByOriginationDateMemberpacw:OriginationDate2019Member2022-12-310001102112pacw:OriginationDate2018Memberus-gaap:MortgagesMemberpacw:A12HighPassMemberus-gaap:CommercialRealEstateMemberpacw:TermLoansByOriginationDateMember2022-12-310001102112us-gaap:MortgagesMemberpacw:A12HighPassMemberus-gaap:CommercialRealEstateMemberpacw:TermLoansByOriginationDateMemberpacw:OriginationDate2017Member2022-12-310001102112us-gaap:MortgagesMemberpacw:PriorMemberpacw:A12HighPassMemberus-gaap:CommercialRealEstateMemberpacw:TermLoansByOriginationDateMember2022-12-310001102112us-gaap:RevolvingCreditFacilityMemberus-gaap:MortgagesMemberpacw:A12HighPassMemberus-gaap:CommercialRealEstateMember2022-12-310001102112us-gaap:MortgagesMemberpacw:A12HighPassMemberus-gaap:CommercialRealEstateMemberpacw:RevolvingConvertedToTermLoanMember2022-12-310001102112us-gaap:MortgagesMemberpacw:A12HighPassMemberus-gaap:CommercialRealEstateMember2022-12-310001102112us-gaap:MortgagesMemberus-gaap:CommercialRealEstateMemberpacw:TermLoansByOriginationDateMemberpacw:OriginationDate2021Memberpacw:A34PassMember2022-12-310001102112us-gaap:MortgagesMemberpacw:OriginationDate2020Memberus-gaap:CommercialRealEstateMemberpacw:TermLoansByOriginationDateMemberpacw:A34PassMember2022-12-310001102112us-gaap:MortgagesMemberus-gaap:CommercialRealEstateMemberpacw:TermLoansByOriginationDateMemberpacw:A34PassMemberpacw:OriginationDate2019Member2022-12-310001102112pacw:OriginationDate2018Memberus-gaap:MortgagesMemberus-gaap:CommercialRealEstateMemberpacw:TermLoansByOriginationDateMemberpacw:A34PassMember2022-12-310001102112us-gaap:MortgagesMemberus-gaap:CommercialRealEstateMemberpacw:TermLoansByOriginationDateMemberpacw:A34PassMemberpacw:OriginationDate2017Member2022-12-310001102112us-gaap:MortgagesMemberpacw:PriorMemberus-gaap:CommercialRealEstateMemberpacw:TermLoansByOriginationDateMemberpacw:A34PassMember2022-12-310001102112us-gaap:RevolvingCreditFacilityMemberus-gaap:MortgagesMemberus-gaap:CommercialRealEstateMemberpacw:A34PassMember2022-12-310001102112us-gaap:MortgagesMemberus-gaap:CommercialRealEstateMemberpacw:A34PassMemberpacw:RevolvingConvertedToTermLoanMember2022-12-310001102112us-gaap:MortgagesMemberus-gaap:CommercialRealEstateMemberpacw:A34PassMember2022-12-310001102112us-gaap:MortgagesMemberus-gaap:CommercialRealEstateMemberpacw:TermLoansByOriginationDateMemberpacw:OriginationDate2021Memberpacw:A5SpecialMentionMember2022-12-310001102112us-gaap:MortgagesMemberpacw:OriginationDate2020Memberus-gaap:CommercialRealEstateMemberpacw:TermLoansByOriginationDateMemberpacw:A5SpecialMentionMember2022-12-310001102112us-gaap:MortgagesMemberus-gaap:CommercialRealEstateMemberpacw:TermLoansByOriginationDateMemberpacw:A5SpecialMentionMemberpacw:OriginationDate2019Member2022-12-310001102112pacw:OriginationDate2018Memberus-gaap:MortgagesMemberus-gaap:CommercialRealEstateMemberpacw:TermLoansByOriginationDateMemberpacw:A5SpecialMentionMember2022-12-310001102112us-gaap:MortgagesMemberus-gaap:CommercialRealEstateMemberpacw:TermLoansByOriginationDateMemberpacw:A5SpecialMentionMemberpacw:OriginationDate2017Member2022-12-310001102112us-gaap:MortgagesMemberpacw:PriorMemberus-gaap:CommercialRealEstateMemberpacw:TermLoansByOriginationDateMemberpacw:A5SpecialMentionMember2022-12-310001102112us-gaap:RevolvingCreditFacilityMemberus-gaap:MortgagesMemberus-gaap:CommercialRealEstateMemberpacw:A5SpecialMentionMember2022-12-310001102112us-gaap:MortgagesMemberus-gaap:CommercialRealEstateMemberpacw:RevolvingConvertedToTermLoanMemberpacw:A5SpecialMentionMember2022-12-310001102112us-gaap:MortgagesMemberus-gaap:CommercialRealEstateMemberpacw:A5SpecialMentionMember2022-12-310001102112us-gaap:MortgagesMemberpacw:A68ClassifiedMemberus-gaap:CommercialRealEstateMemberpacw:TermLoansByOriginationDateMemberpacw:OriginationDate2021Member2022-12-310001102112us-gaap:MortgagesMemberpacw:OriginationDate2020Memberpacw:A68ClassifiedMemberus-gaap:CommercialRealEstateMemberpacw:TermLoansByOriginationDateMember2022-12-310001102112us-gaap:MortgagesMemberpacw:A68ClassifiedMemberus-gaap:CommercialRealEstateMemberpacw:TermLoansByOriginationDateMemberpacw:OriginationDate2019Member2022-12-310001102112pacw:OriginationDate2018Memberus-gaap:MortgagesMemberpacw:A68ClassifiedMemberus-gaap:CommercialRealEstateMemberpacw:TermLoansByOriginationDateMember2022-12-310001102112us-gaap:MortgagesMemberpacw:A68ClassifiedMemberus-gaap:CommercialRealEstateMemberpacw:TermLoansByOriginationDateMemberpacw:OriginationDate2017Member2022-12-310001102112us-gaap:MortgagesMemberpacw:PriorMemberpacw:A68ClassifiedMemberus-gaap:CommercialRealEstateMemberpacw:TermLoansByOriginationDateMember2022-12-310001102112us-gaap:RevolvingCreditFacilityMemberus-gaap:MortgagesMemberpacw:A68ClassifiedMemberus-gaap:CommercialRealEstateMember2022-12-310001102112us-gaap:MortgagesMemberpacw:A68ClassifiedMemberus-gaap:CommercialRealEstateMemberpacw:RevolvingConvertedToTermLoanMember2022-12-310001102112us-gaap:MortgagesMemberpacw:A68ClassifiedMemberus-gaap:CommercialRealEstateMember2022-12-310001102112us-gaap:MortgagesMemberus-gaap:CommercialRealEstateMemberpacw:TermLoansByOriginationDateMemberpacw:OriginationDate2021Member2022-12-310001102112us-gaap:MortgagesMemberpacw:OriginationDate2020Memberus-gaap:CommercialRealEstateMemberpacw:TermLoansByOriginationDateMember2022-12-310001102112us-gaap:MortgagesMemberus-gaap:CommercialRealEstateMemberpacw:TermLoansByOriginationDateMemberpacw:OriginationDate2019Member2022-12-310001102112pacw:OriginationDate2018Memberus-gaap:MortgagesMemberus-gaap:CommercialRealEstateMemberpacw:TermLoansByOriginationDateMember2022-12-310001102112us-gaap:MortgagesMemberus-gaap:CommercialRealEstateMemberpacw:TermLoansByOriginationDateMemberpacw:OriginationDate2017Member2022-12-310001102112us-gaap:MortgagesMemberpacw:PriorMemberus-gaap:CommercialRealEstateMemberpacw:TermLoansByOriginationDateMember2022-12-310001102112us-gaap:RevolvingCreditFacilityMemberus-gaap:MortgagesMemberus-gaap:CommercialRealEstateMember2022-12-310001102112us-gaap:MortgagesMemberus-gaap:CommercialRealEstateMemberpacw:RevolvingConvertedToTermLoanMember2022-12-310001102112us-gaap:MortgagesMemberus-gaap:CommercialRealEstateMemberpacw:TermLoansByOriginationDateMemberpacw:OriginationDate2021Member2022-01-012022-12-310001102112us-gaap:MortgagesMemberpacw:OriginationDate2020Memberus-gaap:CommercialRealEstateMemberpacw:TermLoansByOriginationDateMember2022-01-012022-12-310001102112us-gaap:MortgagesMemberus-gaap:CommercialRealEstateMemberpacw:TermLoansByOriginationDateMemberpacw:OriginationDate2019Member2022-01-012022-12-310001102112pacw:OriginationDate2018Memberus-gaap:MortgagesMemberus-gaap:CommercialRealEstateMemberpacw:TermLoansByOriginationDateMember2022-01-012022-12-310001102112us-gaap:MortgagesMemberus-gaap:CommercialRealEstateMemberpacw:TermLoansByOriginationDateMemberpacw:OriginationDate2017Member2022-01-012022-12-310001102112us-gaap:MortgagesMemberpacw:PriorMemberus-gaap:CommercialRealEstateMemberpacw:TermLoansByOriginationDateMember2022-01-012022-12-310001102112us-gaap:RevolvingCreditFacilityMemberus-gaap:MortgagesMemberus-gaap:CommercialRealEstateMember2022-01-012022-12-310001102112us-gaap:MortgagesMemberus-gaap:CommercialRealEstateMemberpacw:RevolvingConvertedToTermLoanMember2022-01-012022-12-310001102112us-gaap:MortgagesMemberus-gaap:CommercialRealEstateMember2022-01-012022-12-310001102112us-gaap:MortgagesMemberpacw:A12HighPassMemberpacw:MultiFamilyRealEstateLoansMemberpacw:TermLoansByOriginationDateMemberpacw:OriginationDate2021Member2022-12-310001102112us-gaap:MortgagesMemberpacw:A12HighPassMemberpacw:OriginationDate2020Memberpacw:MultiFamilyRealEstateLoansMemberpacw:TermLoansByOriginationDateMember2022-12-310001102112us-gaap:MortgagesMemberpacw:A12HighPassMemberpacw:MultiFamilyRealEstateLoansMemberpacw:TermLoansByOriginationDateMemberpacw:OriginationDate2019Member2022-12-310001102112pacw:OriginationDate2018Memberus-gaap:MortgagesMemberpacw:A12HighPassMemberpacw:MultiFamilyRealEstateLoansMemberpacw:TermLoansByOriginationDateMember2022-12-310001102112us-gaap:MortgagesMemberpacw:A12HighPassMemberpacw:MultiFamilyRealEstateLoansMemberpacw:TermLoansByOriginationDateMemberpacw:OriginationDate2017Member2022-12-310001102112us-gaap:MortgagesMemberpacw:PriorMemberpacw:A12HighPassMemberpacw:MultiFamilyRealEstateLoansMemberpacw:TermLoansByOriginationDateMember2022-12-310001102112us-gaap:RevolvingCreditFacilityMemberus-gaap:MortgagesMemberpacw:A12HighPassMemberpacw:MultiFamilyRealEstateLoansMember2022-12-310001102112us-gaap:MortgagesMemberpacw:A12HighPassMemberpacw:MultiFamilyRealEstateLoansMemberpacw:RevolvingConvertedToTermLoanMember2022-12-310001102112us-gaap:MortgagesMemberpacw:A12HighPassMemberpacw:MultiFamilyRealEstateLoansMember2022-12-310001102112us-gaap:MortgagesMemberpacw:MultiFamilyRealEstateLoansMemberpacw:TermLoansByOriginationDateMemberpacw:OriginationDate2021Memberpacw:A34PassMember2022-12-310001102112us-gaap:MortgagesMemberpacw:OriginationDate2020Memberpacw:MultiFamilyRealEstateLoansMemberpacw:TermLoansByOriginationDateMemberpacw:A34PassMember2022-12-310001102112us-gaap:MortgagesMemberpacw:MultiFamilyRealEstateLoansMemberpacw:TermLoansByOriginationDateMemberpacw:A34PassMemberpacw:OriginationDate2019Member2022-12-310001102112pacw:OriginationDate2018Memberus-gaap:MortgagesMemberpacw:MultiFamilyRealEstateLoansMemberpacw:TermLoansByOriginationDateMemberpacw:A34PassMember2022-12-310001102112us-gaap:MortgagesMemberpacw:MultiFamilyRealEstateLoansMemberpacw:TermLoansByOriginationDateMemberpacw:A34PassMemberpacw:OriginationDate2017Member2022-12-310001102112us-gaap:MortgagesMemberpacw:PriorMemberpacw:MultiFamilyRealEstateLoansMemberpacw:TermLoansByOriginationDateMemberpacw:A34PassMember2022-12-310001102112us-gaap:RevolvingCreditFacilityMemberus-gaap:MortgagesMemberpacw:MultiFamilyRealEstateLoansMemberpacw:A34PassMember2022-12-310001102112us-gaap:MortgagesMemberpacw:MultiFamilyRealEstateLoansMemberpacw:A34PassMemberpacw:RevolvingConvertedToTermLoanMember2022-12-310001102112us-gaap:MortgagesMemberpacw:MultiFamilyRealEstateLoansMemberpacw:A34PassMember2022-12-310001102112us-gaap:MortgagesMemberpacw:MultiFamilyRealEstateLoansMemberpacw:TermLoansByOriginationDateMemberpacw:OriginationDate2021Memberpacw:A5SpecialMentionMember2022-12-310001102112us-gaap:MortgagesMemberpacw:OriginationDate2020Memberpacw:MultiFamilyRealEstateLoansMemberpacw:TermLoansByOriginationDateMemberpacw:A5SpecialMentionMember2022-12-310001102112us-gaap:MortgagesMemberpacw:MultiFamilyRealEstateLoansMemberpacw:TermLoansByOriginationDateMemberpacw:A5SpecialMentionMemberpacw:OriginationDate2019Member2022-12-310001102112pacw:OriginationDate2018Memberus-gaap:MortgagesMemberpacw:MultiFamilyRealEstateLoansMemberpacw:TermLoansByOriginationDateMemberpacw:A5SpecialMentionMember2022-12-310001102112us-gaap:MortgagesMemberpacw:MultiFamilyRealEstateLoansMemberpacw:TermLoansByOriginationDateMemberpacw:A5SpecialMentionMemberpacw:OriginationDate2017Member2022-12-310001102112us-gaap:MortgagesMemberpacw:PriorMemberpacw:MultiFamilyRealEstateLoansMemberpacw:TermLoansByOriginationDateMemberpacw:A5SpecialMentionMember2022-12-310001102112us-gaap:RevolvingCreditFacilityMemberus-gaap:MortgagesMemberpacw:MultiFamilyRealEstateLoansMemberpacw:A5SpecialMentionMember2022-12-310001102112us-gaap:MortgagesMemberpacw:MultiFamilyRealEstateLoansMemberpacw:RevolvingConvertedToTermLoanMemberpacw:A5SpecialMentionMember2022-12-310001102112us-gaap:MortgagesMemberpacw:MultiFamilyRealEstateLoansMemberpacw:A5SpecialMentionMember2022-12-310001102112us-gaap:MortgagesMemberpacw:MultiFamilyRealEstateLoansMemberpacw:A68ClassifiedMemberpacw:TermLoansByOriginationDateMemberpacw:OriginationDate2021Member2022-12-310001102112us-gaap:MortgagesMemberpacw:OriginationDate2020Memberpacw:MultiFamilyRealEstateLoansMemberpacw:A68ClassifiedMemberpacw:TermLoansByOriginationDateMember2022-12-310001102112us-gaap:MortgagesMemberpacw:MultiFamilyRealEstateLoansMemberpacw:A68ClassifiedMemberpacw:TermLoansByOriginationDateMemberpacw:OriginationDate2019Member2022-12-310001102112pacw:OriginationDate2018Memberus-gaap:MortgagesMemberpacw:MultiFamilyRealEstateLoansMemberpacw:A68ClassifiedMemberpacw:TermLoansByOriginationDateMember2022-12-310001102112us-gaap:MortgagesMemberpacw:MultiFamilyRealEstateLoansMemberpacw:A68ClassifiedMemberpacw:TermLoansByOriginationDateMemberpacw:OriginationDate2017Member2022-12-310001102112us-gaap:MortgagesMemberpacw:PriorMemberpacw:MultiFamilyRealEstateLoansMemberpacw:A68ClassifiedMemberpacw:TermLoansByOriginationDateMember2022-12-310001102112us-gaap:RevolvingCreditFacilityMemberus-gaap:MortgagesMemberpacw:A68ClassifiedMemberpacw:MultiFamilyRealEstateLoansMember2022-12-310001102112us-gaap:MortgagesMemberpacw:A68ClassifiedMemberpacw:MultiFamilyRealEstateLoansMemberpacw:RevolvingConvertedToTermLoanMember2022-12-310001102112us-gaap:MortgagesMemberpacw:A68ClassifiedMemberpacw:MultiFamilyRealEstateLoansMember2022-12-310001102112us-gaap:MortgagesMemberpacw:MultiFamilyRealEstateLoansMemberpacw:TermLoansByOriginationDateMemberpacw:OriginationDate2021Member2022-12-310001102112us-gaap:MortgagesMemberpacw:OriginationDate2020Memberpacw:MultiFamilyRealEstateLoansMemberpacw:TermLoansByOriginationDateMember2022-12-310001102112us-gaap:MortgagesMemberpacw:MultiFamilyRealEstateLoansMemberpacw:TermLoansByOriginationDateMemberpacw:OriginationDate2019Member2022-12-310001102112pacw:OriginationDate2018Memberus-gaap:MortgagesMemberpacw:MultiFamilyRealEstateLoansMemberpacw:TermLoansByOriginationDateMember2022-12-310001102112us-gaap:MortgagesMemberpacw:MultiFamilyRealEstateLoansMemberpacw:TermLoansByOriginationDateMemberpacw:OriginationDate2017Member2022-12-310001102112us-gaap:MortgagesMemberpacw:PriorMemberpacw:MultiFamilyRealEstateLoansMemberpacw:TermLoansByOriginationDateMember2022-12-310001102112us-gaap:RevolvingCreditFacilityMemberus-gaap:MortgagesMemberpacw:MultiFamilyRealEstateLoansMember2022-12-310001102112us-gaap:MortgagesMemberpacw:MultiFamilyRealEstateLoansMemberpacw:RevolvingConvertedToTermLoanMember2022-12-310001102112us-gaap:MortgagesMemberpacw:MultiFamilyRealEstateLoansMemberpacw:TermLoansByOriginationDateMemberpacw:OriginationDate2021Member2022-01-012022-12-310001102112us-gaap:MortgagesMemberpacw:OriginationDate2020Memberpacw:MultiFamilyRealEstateLoansMemberpacw:TermLoansByOriginationDateMember2022-01-012022-12-310001102112us-gaap:MortgagesMemberpacw:MultiFamilyRealEstateLoansMemberpacw:TermLoansByOriginationDateMemberpacw:OriginationDate2019Member2022-01-012022-12-310001102112pacw:OriginationDate2018Memberus-gaap:MortgagesMemberpacw:MultiFamilyRealEstateLoansMemberpacw:TermLoansByOriginationDateMember2022-01-012022-12-310001102112us-gaap:MortgagesMemberpacw:MultiFamilyRealEstateLoansMemberpacw:TermLoansByOriginationDateMemberpacw:OriginationDate2017Member2022-01-012022-12-310001102112us-gaap:MortgagesMemberpacw:PriorMemberpacw:MultiFamilyRealEstateLoansMemberpacw:TermLoansByOriginationDateMember2022-01-012022-12-310001102112us-gaap:RevolvingCreditFacilityMemberus-gaap:MortgagesMemberpacw:MultiFamilyRealEstateLoansMember2022-01-012022-12-310001102112us-gaap:MortgagesMemberpacw:MultiFamilyRealEstateLoansMemberpacw:RevolvingConvertedToTermLoanMember2022-01-012022-12-310001102112us-gaap:MortgagesMemberpacw:MultiFamilyRealEstateLoansMember2022-01-012022-12-310001102112pacw:OtherResidentialRealEstateMemberus-gaap:MortgagesMemberpacw:A12HighPassMemberpacw:TermLoansByOriginationDateMemberpacw:OriginationDate2021Member2022-12-310001102112pacw:OtherResidentialRealEstateMemberus-gaap:MortgagesMemberpacw:A12HighPassMemberpacw:OriginationDate2020Memberpacw:TermLoansByOriginationDateMember2022-12-310001102112pacw:OtherResidentialRealEstateMemberus-gaap:MortgagesMemberpacw:A12HighPassMemberpacw:TermLoansByOriginationDateMemberpacw:OriginationDate2019Member2022-12-310001102112pacw:OtherResidentialRealEstateMemberpacw:OriginationDate2018Memberus-gaap:MortgagesMemberpacw:A12HighPassMemberpacw:TermLoansByOriginationDateMember2022-12-310001102112pacw:OtherResidentialRealEstateMemberus-gaap:MortgagesMemberpacw:A12HighPassMemberpacw:TermLoansByOriginationDateMemberpacw:OriginationDate2017Member2022-12-310001102112pacw:OtherResidentialRealEstateMemberus-gaap:MortgagesMemberpacw:PriorMemberpacw:A12HighPassMemberpacw:TermLoansByOriginationDateMember2022-12-310001102112pacw:OtherResidentialRealEstateMemberus-gaap:RevolvingCreditFacilityMemberus-gaap:MortgagesMemberpacw:A12HighPassMember2022-12-310001102112pacw:OtherResidentialRealEstateMemberus-gaap:MortgagesMemberpacw:A12HighPassMemberpacw:RevolvingConvertedToTermLoanMember2022-12-310001102112pacw:OtherResidentialRealEstateMemberus-gaap:MortgagesMemberpacw:A12HighPassMember2022-12-310001102112pacw:OtherResidentialRealEstateMemberus-gaap:MortgagesMemberpacw:TermLoansByOriginationDateMemberpacw:OriginationDate2021Memberpacw:A34PassMember2022-12-310001102112pacw:OtherResidentialRealEstateMemberus-gaap:MortgagesMemberpacw:OriginationDate2020Memberpacw:TermLoansByOriginationDateMemberpacw:A34PassMember2022-12-310001102112pacw:OtherResidentialRealEstateMemberus-gaap:MortgagesMemberpacw:TermLoansByOriginationDateMemberpacw:A34PassMemberpacw:OriginationDate2019Member2022-12-310001102112pacw:OtherResidentialRealEstateMemberpacw:OriginationDate2018Memberus-gaap:MortgagesMemberpacw:TermLoansByOriginationDateMemberpacw:A34PassMember2022-12-310001102112pacw:OtherResidentialRealEstateMemberus-gaap:MortgagesMemberpacw:TermLoansByOriginationDateMemberpacw:A34PassMemberpacw:OriginationDate2017Member2022-12-310001102112pacw:OtherResidentialRealEstateMemberus-gaap:MortgagesMemberpacw:PriorMemberpacw:TermLoansByOriginationDateMemberpacw:A34PassMember2022-12-310001102112pacw:OtherResidentialRealEstateMemberus-gaap:RevolvingCreditFacilityMemberus-gaap:MortgagesMemberpacw:A34PassMember2022-12-310001102112pacw:OtherResidentialRealEstateMemberus-gaap:MortgagesMemberpacw:A34PassMemberpacw:RevolvingConvertedToTermLoanMember2022-12-310001102112pacw:OtherResidentialRealEstateMemberus-gaap:MortgagesMemberpacw:A34PassMember2022-12-310001102112pacw:OtherResidentialRealEstateMemberus-gaap:MortgagesMemberpacw:TermLoansByOriginationDateMemberpacw:OriginationDate2021Memberpacw:A5SpecialMentionMember2022-12-310001102112pacw:OtherResidentialRealEstateMemberus-gaap:MortgagesMemberpacw:OriginationDate2020Memberpacw:TermLoansByOriginationDateMemberpacw:A5SpecialMentionMember2022-12-310001102112pacw:OtherResidentialRealEstateMemberus-gaap:MortgagesMemberpacw:TermLoansByOriginationDateMemberpacw:A5SpecialMentionMemberpacw:OriginationDate2019Member2022-12-310001102112pacw:OtherResidentialRealEstateMemberpacw:OriginationDate2018Memberus-gaap:MortgagesMemberpacw:TermLoansByOriginationDateMemberpacw:A5SpecialMentionMember2022-12-310001102112pacw:OtherResidentialRealEstateMemberus-gaap:MortgagesMemberpacw:TermLoansByOriginationDateMemberpacw:A5SpecialMentionMemberpacw:OriginationDate2017Member2022-12-310001102112pacw:OtherResidentialRealEstateMemberus-gaap:MortgagesMemberpacw:PriorMemberpacw:TermLoansByOriginationDateMemberpacw:A5SpecialMentionMember2022-12-310001102112pacw:OtherResidentialRealEstateMemberus-gaap:RevolvingCreditFacilityMemberus-gaap:MortgagesMemberpacw:A5SpecialMentionMember2022-12-310001102112pacw:OtherResidentialRealEstateMemberus-gaap:MortgagesMemberpacw:RevolvingConvertedToTermLoanMemberpacw:A5SpecialMentionMember2022-12-310001102112pacw:OtherResidentialRealEstateMemberus-gaap:MortgagesMemberpacw:A5SpecialMentionMember2022-12-310001102112pacw:OtherResidentialRealEstateMemberus-gaap:MortgagesMemberpacw:A68ClassifiedMemberpacw:TermLoansByOriginationDateMemberpacw:OriginationDate2021Member2022-12-310001102112pacw:OtherResidentialRealEstateMemberus-gaap:MortgagesMemberpacw:OriginationDate2020Memberpacw:A68ClassifiedMemberpacw:TermLoansByOriginationDateMember2022-12-310001102112pacw:OtherResidentialRealEstateMemberus-gaap:MortgagesMemberpacw:A68ClassifiedMemberpacw:TermLoansByOriginationDateMemberpacw:OriginationDate2019Member2022-12-310001102112pacw:OtherResidentialRealEstateMemberpacw:OriginationDate2018Memberus-gaap:MortgagesMemberpacw:A68ClassifiedMemberpacw:TermLoansByOriginationDateMember2022-12-310001102112pacw:OtherResidentialRealEstateMemberus-gaap:MortgagesMemberpacw:A68ClassifiedMemberpacw:TermLoansByOriginationDateMemberpacw:OriginationDate2017Member2022-12-310001102112pacw:OtherResidentialRealEstateMemberus-gaap:MortgagesMemberpacw:PriorMemberpacw:A68ClassifiedMemberpacw:TermLoansByOriginationDateMember2022-12-310001102112pacw:OtherResidentialRealEstateMemberus-gaap:RevolvingCreditFacilityMemberus-gaap:MortgagesMemberpacw:A68ClassifiedMember2022-12-310001102112pacw:OtherResidentialRealEstateMemberus-gaap:MortgagesMemberpacw:A68ClassifiedMemberpacw:RevolvingConvertedToTermLoanMember2022-12-310001102112pacw:OtherResidentialRealEstateMemberus-gaap:MortgagesMemberpacw:A68ClassifiedMember2022-12-310001102112pacw:OtherResidentialRealEstateMemberus-gaap:MortgagesMemberpacw:TermLoansByOriginationDateMemberpacw:OriginationDate2021Member2022-12-310001102112pacw:OtherResidentialRealEstateMemberus-gaap:MortgagesMemberpacw:OriginationDate2020Memberpacw:TermLoansByOriginationDateMember2022-12-310001102112pacw:OtherResidentialRealEstateMemberus-gaap:MortgagesMemberpacw:TermLoansByOriginationDateMemberpacw:OriginationDate2019Member2022-12-310001102112pacw:OtherResidentialRealEstateMemberpacw:OriginationDate2018Memberus-gaap:MortgagesMemberpacw:TermLoansByOriginationDateMember2022-12-310001102112pacw:OtherResidentialRealEstateMemberus-gaap:MortgagesMemberpacw:TermLoansByOriginationDateMemberpacw:OriginationDate2017Member2022-12-310001102112pacw:OtherResidentialRealEstateMemberus-gaap:MortgagesMemberpacw:PriorMemberpacw:TermLoansByOriginationDateMember2022-12-310001102112pacw:OtherResidentialRealEstateMemberus-gaap:RevolvingCreditFacilityMemberus-gaap:MortgagesMember2022-12-310001102112pacw:OtherResidentialRealEstateMemberus-gaap:MortgagesMemberpacw:RevolvingConvertedToTermLoanMember2022-12-310001102112pacw:OtherResidentialRealEstateMemberus-gaap:MortgagesMemberpacw:TermLoansByOriginationDateMemberpacw:OriginationDate2021Member2022-01-012022-12-310001102112pacw:OtherResidentialRealEstateMemberus-gaap:MortgagesMemberpacw:OriginationDate2020Memberpacw:TermLoansByOriginationDateMember2022-01-012022-12-310001102112pacw:OtherResidentialRealEstateMemberus-gaap:MortgagesMemberpacw:TermLoansByOriginationDateMemberpacw:OriginationDate2019Member2022-01-012022-12-310001102112pacw:OtherResidentialRealEstateMemberpacw:OriginationDate2018Memberus-gaap:MortgagesMemberpacw:TermLoansByOriginationDateMember2022-01-012022-12-310001102112pacw:OtherResidentialRealEstateMemberus-gaap:MortgagesMemberpacw:TermLoansByOriginationDateMemberpacw:OriginationDate2017Member2022-01-012022-12-310001102112pacw:OtherResidentialRealEstateMemberus-gaap:MortgagesMemberpacw:PriorMemberpacw:TermLoansByOriginationDateMember2022-01-012022-12-310001102112pacw:OtherResidentialRealEstateMemberus-gaap:RevolvingCreditFacilityMemberus-gaap:MortgagesMember2022-01-012022-12-310001102112pacw:OtherResidentialRealEstateMemberus-gaap:MortgagesMemberpacw:RevolvingConvertedToTermLoanMember2022-01-012022-12-310001102112pacw:OtherResidentialRealEstateMemberus-gaap:MortgagesMember2022-01-012022-12-310001102112pacw:CommercialRealEstateConstructionLoanReceivableMemberpacw:A12HighPassMemberpacw:TermLoansByOriginationDateMemberpacw:OriginationDate2021Member2022-12-310001102112pacw:CommercialRealEstateConstructionLoanReceivableMemberpacw:A12HighPassMemberpacw:OriginationDate2020Memberpacw:TermLoansByOriginationDateMember2022-12-310001102112pacw:CommercialRealEstateConstructionLoanReceivableMemberpacw:A12HighPassMemberpacw:TermLoansByOriginationDateMemberpacw:OriginationDate2019Member2022-12-310001102112pacw:CommercialRealEstateConstructionLoanReceivableMemberpacw:OriginationDate2018Memberpacw:A12HighPassMemberpacw:TermLoansByOriginationDateMember2022-12-310001102112pacw:CommercialRealEstateConstructionLoanReceivableMemberpacw:A12HighPassMemberpacw:TermLoansByOriginationDateMemberpacw:OriginationDate2017Member2022-12-310001102112pacw:CommercialRealEstateConstructionLoanReceivableMemberpacw:PriorMemberpacw:A12HighPassMemberpacw:TermLoansByOriginationDateMember2022-12-310001102112pacw:CommercialRealEstateConstructionLoanReceivableMemberus-gaap:RevolvingCreditFacilityMemberpacw:A12HighPassMember2022-12-310001102112pacw:CommercialRealEstateConstructionLoanReceivableMemberpacw:A12HighPassMemberpacw:RevolvingConvertedToTermLoanMember2022-12-310001102112pacw:CommercialRealEstateConstructionLoanReceivableMemberpacw:A12HighPassMember2022-12-310001102112pacw:CommercialRealEstateConstructionLoanReceivableMemberpacw:TermLoansByOriginationDateMemberpacw:OriginationDate2021Memberpacw:A34PassMember2022-12-310001102112pacw:CommercialRealEstateConstructionLoanReceivableMemberpacw:OriginationDate2020Memberpacw:TermLoansByOriginationDateMemberpacw:A34PassMember2022-12-310001102112pacw:CommercialRealEstateConstructionLoanReceivableMemberpacw:TermLoansByOriginationDateMemberpacw:A34PassMemberpacw:OriginationDate2019Member2022-12-310001102112pacw:CommercialRealEstateConstructionLoanReceivableMemberpacw:OriginationDate2018Memberpacw:TermLoansByOriginationDateMemberpacw:A34PassMember2022-12-310001102112pacw:CommercialRealEstateConstructionLoanReceivableMemberpacw:TermLoansByOriginationDateMemberpacw:A34PassMemberpacw:OriginationDate2017Member2022-12-310001102112pacw:CommercialRealEstateConstructionLoanReceivableMemberpacw:PriorMemberpacw:TermLoansByOriginationDateMemberpacw:A34PassMember2022-12-310001102112pacw:CommercialRealEstateConstructionLoanReceivableMemberus-gaap:RevolvingCreditFacilityMemberpacw:A34PassMember2022-12-310001102112pacw:CommercialRealEstateConstructionLoanReceivableMemberpacw:A34PassMemberpacw:RevolvingConvertedToTermLoanMember2022-12-310001102112pacw:CommercialRealEstateConstructionLoanReceivableMemberpacw:A34PassMember2022-12-310001102112pacw:CommercialRealEstateConstructionLoanReceivableMemberpacw:TermLoansByOriginationDateMemberpacw:OriginationDate2021Memberpacw:A5SpecialMentionMember2022-12-310001102112pacw:CommercialRealEstateConstructionLoanReceivableMemberpacw:OriginationDate2020Memberpacw:TermLoansByOriginationDateMemberpacw:A5SpecialMentionMember2022-12-310001102112pacw:CommercialRealEstateConstructionLoanReceivableMemberpacw:TermLoansByOriginationDateMemberpacw:A5SpecialMentionMemberpacw:OriginationDate2019Member2022-12-310001102112pacw:CommercialRealEstateConstructionLoanReceivableMemberpacw:OriginationDate2018Memberpacw:TermLoansByOriginationDateMemberpacw:A5SpecialMentionMember2022-12-310001102112pacw:CommercialRealEstateConstructionLoanReceivableMemberpacw:TermLoansByOriginationDateMemberpacw:A5SpecialMentionMemberpacw:OriginationDate2017Member2022-12-310001102112pacw:CommercialRealEstateConstructionLoanReceivableMemberpacw:PriorMemberpacw:TermLoansByOriginationDateMemberpacw:A5SpecialMentionMember2022-12-310001102112pacw:CommercialRealEstateConstructionLoanReceivableMemberus-gaap:RevolvingCreditFacilityMemberpacw:A5SpecialMentionMember2022-12-310001102112pacw:CommercialRealEstateConstructionLoanReceivableMemberpacw:RevolvingConvertedToTermLoanMemberpacw:A5SpecialMentionMember2022-12-310001102112pacw:CommercialRealEstateConstructionLoanReceivableMemberpacw:A5SpecialMentionMember2022-12-310001102112pacw:CommercialRealEstateConstructionLoanReceivableMemberpacw:A68ClassifiedMemberpacw:TermLoansByOriginationDateMemberpacw:OriginationDate2021Member2022-12-310001102112pacw:CommercialRealEstateConstructionLoanReceivableMemberpacw:OriginationDate2020Memberpacw:A68ClassifiedMemberpacw:TermLoansByOriginationDateMember2022-12-310001102112pacw:CommercialRealEstateConstructionLoanReceivableMemberpacw:A68ClassifiedMemberpacw:TermLoansByOriginationDateMemberpacw:OriginationDate2019Member2022-12-310001102112pacw:CommercialRealEstateConstructionLoanReceivableMemberpacw:OriginationDate2018Memberpacw:A68ClassifiedMemberpacw:TermLoansByOriginationDateMember2022-12-310001102112pacw:CommercialRealEstateConstructionLoanReceivableMemberpacw:A68ClassifiedMemberpacw:TermLoansByOriginationDateMemberpacw:OriginationDate2017Member2022-12-310001102112pacw:CommercialRealEstateConstructionLoanReceivableMemberpacw:PriorMemberpacw:A68ClassifiedMemberpacw:TermLoansByOriginationDateMember2022-12-310001102112pacw:CommercialRealEstateConstructionLoanReceivableMemberus-gaap:RevolvingCreditFacilityMemberpacw:A68ClassifiedMember2022-12-310001102112pacw:CommercialRealEstateConstructionLoanReceivableMemberpacw:A68ClassifiedMemberpacw:RevolvingConvertedToTermLoanMember2022-12-310001102112pacw:CommercialRealEstateConstructionLoanReceivableMemberpacw:A68ClassifiedMember2022-12-310001102112pacw:CommercialRealEstateConstructionLoanReceivableMemberpacw:TermLoansByOriginationDateMemberpacw:OriginationDate2021Member2022-12-310001102112pacw:CommercialRealEstateConstructionLoanReceivableMemberpacw:OriginationDate2020Memberpacw:TermLoansByOriginationDateMember2022-12-310001102112pacw:CommercialRealEstateConstructionLoanReceivableMemberpacw:TermLoansByOriginationDateMemberpacw:OriginationDate2019Member2022-12-310001102112pacw:CommercialRealEstateConstructionLoanReceivableMemberpacw:OriginationDate2018Memberpacw:TermLoansByOriginationDateMember2022-12-310001102112pacw:CommercialRealEstateConstructionLoanReceivableMemberpacw:TermLoansByOriginationDateMemberpacw:OriginationDate2017Member2022-12-310001102112pacw:CommercialRealEstateConstructionLoanReceivableMemberpacw:PriorMemberpacw:TermLoansByOriginationDateMember2022-12-310001102112pacw:CommercialRealEstateConstructionLoanReceivableMemberus-gaap:RevolvingCreditFacilityMember2022-12-310001102112pacw:CommercialRealEstateConstructionLoanReceivableMemberpacw:RevolvingConvertedToTermLoanMember2022-12-310001102112pacw:CommercialRealEstateConstructionLoanReceivableMember2022-12-310001102112pacw:CommercialRealEstateConstructionLoanReceivableMemberpacw:TermLoansByOriginationDateMemberpacw:OriginationDate2021Member2022-01-012022-12-310001102112pacw:CommercialRealEstateConstructionLoanReceivableMemberpacw:OriginationDate2020Memberpacw:TermLoansByOriginationDateMember2022-01-012022-12-310001102112pacw:CommercialRealEstateConstructionLoanReceivableMemberpacw:TermLoansByOriginationDateMemberpacw:OriginationDate2019Member2022-01-012022-12-310001102112pacw:CommercialRealEstateConstructionLoanReceivableMemberpacw:OriginationDate2018Memberpacw:TermLoansByOriginationDateMember2022-01-012022-12-310001102112pacw:CommercialRealEstateConstructionLoanReceivableMemberpacw:TermLoansByOriginationDateMemberpacw:OriginationDate2017Member2022-01-012022-12-310001102112pacw:CommercialRealEstateConstructionLoanReceivableMemberpacw:PriorMemberpacw:TermLoansByOriginationDateMember2022-01-012022-12-310001102112pacw:CommercialRealEstateConstructionLoanReceivableMemberus-gaap:RevolvingCreditFacilityMember2022-01-012022-12-310001102112pacw:CommercialRealEstateConstructionLoanReceivableMemberpacw:RevolvingConvertedToTermLoanMember2022-01-012022-12-310001102112pacw:CommercialRealEstateConstructionLoanReceivableMember2022-01-012022-12-310001102112pacw:A12HighPassMemberpacw:TermLoansByOriginationDateMemberpacw:OriginationDate2021Memberpacw:ResidentialRealEstateConstructionFinancingReceivableMember2022-12-310001102112pacw:A12HighPassMemberpacw:OriginationDate2020Memberpacw:TermLoansByOriginationDateMemberpacw:ResidentialRealEstateConstructionFinancingReceivableMember2022-12-310001102112pacw:A12HighPassMemberpacw:TermLoansByOriginationDateMemberpacw:ResidentialRealEstateConstructionFinancingReceivableMemberpacw:OriginationDate2019Member2022-12-310001102112pacw:OriginationDate2018Memberpacw:A12HighPassMemberpacw:TermLoansByOriginationDateMemberpacw:ResidentialRealEstateConstructionFinancingReceivableMember2022-12-310001102112pacw:A12HighPassMemberpacw:TermLoansByOriginationDateMemberpacw:ResidentialRealEstateConstructionFinancingReceivableMemberpacw:OriginationDate2017Member2022-12-310001102112pacw:PriorMemberpacw:A12HighPassMemberpacw:TermLoansByOriginationDateMemberpacw:ResidentialRealEstateConstructionFinancingReceivableMember2022-12-310001102112us-gaap:RevolvingCreditFacilityMemberpacw:A12HighPassMemberpacw:ResidentialRealEstateConstructionFinancingReceivableMember2022-12-310001102112pacw:A12HighPassMemberpacw:RevolvingConvertedToTermLoanMemberpacw:ResidentialRealEstateConstructionFinancingReceivableMember2022-12-310001102112pacw:A12HighPassMemberpacw:ResidentialRealEstateConstructionFinancingReceivableMember2022-12-310001102112pacw:TermLoansByOriginationDateMemberpacw:OriginationDate2021Memberpacw:A34PassMemberpacw:ResidentialRealEstateConstructionFinancingReceivableMember2022-12-310001102112pacw:OriginationDate2020Memberpacw:TermLoansByOriginationDateMemberpacw:A34PassMemberpacw:ResidentialRealEstateConstructionFinancingReceivableMember2022-12-310001102112pacw:TermLoansByOriginationDateMemberpacw:A34PassMemberpacw:ResidentialRealEstateConstructionFinancingReceivableMemberpacw:OriginationDate2019Member2022-12-310001102112pacw:OriginationDate2018Memberpacw:TermLoansByOriginationDateMemberpacw:A34PassMemberpacw:ResidentialRealEstateConstructionFinancingReceivableMember2022-12-310001102112pacw:TermLoansByOriginationDateMemberpacw:A34PassMemberpacw:ResidentialRealEstateConstructionFinancingReceivableMemberpacw:OriginationDate2017Member2022-12-310001102112pacw:PriorMemberpacw:TermLoansByOriginationDateMemberpacw:A34PassMemberpacw:ResidentialRealEstateConstructionFinancingReceivableMember2022-12-310001102112us-gaap:RevolvingCreditFacilityMemberpacw:A34PassMemberpacw:ResidentialRealEstateConstructionFinancingReceivableMember2022-12-310001102112pacw:A34PassMemberpacw:RevolvingConvertedToTermLoanMemberpacw:ResidentialRealEstateConstructionFinancingReceivableMember2022-12-310001102112pacw:A34PassMemberpacw:ResidentialRealEstateConstructionFinancingReceivableMember2022-12-310001102112pacw:TermLoansByOriginationDateMemberpacw:OriginationDate2021Memberpacw:A5SpecialMentionMemberpacw:ResidentialRealEstateConstructionFinancingReceivableMember2022-12-310001102112pacw:OriginationDate2020Memberpacw:TermLoansByOriginationDateMemberpacw:A5SpecialMentionMemberpacw:ResidentialRealEstateConstructionFinancingReceivableMember2022-12-310001102112pacw:TermLoansByOriginationDateMemberpacw:A5SpecialMentionMemberpacw:ResidentialRealEstateConstructionFinancingReceivableMemberpacw:OriginationDate2019Member2022-12-310001102112pacw:OriginationDate2018Memberpacw:TermLoansByOriginationDateMemberpacw:A5SpecialMentionMemberpacw:ResidentialRealEstateConstructionFinancingReceivableMember2022-12-310001102112pacw:TermLoansByOriginationDateMemberpacw:A5SpecialMentionMemberpacw:ResidentialRealEstateConstructionFinancingReceivableMemberpacw:OriginationDate2017Member2022-12-310001102112pacw:PriorMemberpacw:TermLoansByOriginationDateMemberpacw:A5SpecialMentionMemberpacw:ResidentialRealEstateConstructionFinancingReceivableMember2022-12-310001102112us-gaap:RevolvingCreditFacilityMemberpacw:A5SpecialMentionMemberpacw:ResidentialRealEstateConstructionFinancingReceivableMember2022-12-310001102112pacw:RevolvingConvertedToTermLoanMemberpacw:A5SpecialMentionMemberpacw:ResidentialRealEstateConstructionFinancingReceivableMember2022-12-310001102112pacw:A5SpecialMentionMemberpacw:ResidentialRealEstateConstructionFinancingReceivableMember2022-12-310001102112pacw:A68ClassifiedMemberpacw:TermLoansByOriginationDateMemberpacw:OriginationDate2021Memberpacw:ResidentialRealEstateConstructionFinancingReceivableMember2022-12-310001102112pacw:OriginationDate2020Memberpacw:A68ClassifiedMemberpacw:TermLoansByOriginationDateMemberpacw:ResidentialRealEstateConstructionFinancingReceivableMember2022-12-310001102112pacw:A68ClassifiedMemberpacw:TermLoansByOriginationDateMemberpacw:ResidentialRealEstateConstructionFinancingReceivableMemberpacw:OriginationDate2019Member2022-12-310001102112pacw:OriginationDate2018Memberpacw:A68ClassifiedMemberpacw:TermLoansByOriginationDateMemberpacw:ResidentialRealEstateConstructionFinancingReceivableMember2022-12-310001102112pacw:A68ClassifiedMemberpacw:TermLoansByOriginationDateMemberpacw:ResidentialRealEstateConstructionFinancingReceivableMemberpacw:OriginationDate2017Member2022-12-310001102112pacw:PriorMemberpacw:A68ClassifiedMemberpacw:TermLoansByOriginationDateMemberpacw:ResidentialRealEstateConstructionFinancingReceivableMember2022-12-310001102112us-gaap:RevolvingCreditFacilityMemberpacw:A68ClassifiedMemberpacw:ResidentialRealEstateConstructionFinancingReceivableMember2022-12-310001102112pacw:A68ClassifiedMemberpacw:RevolvingConvertedToTermLoanMemberpacw:ResidentialRealEstateConstructionFinancingReceivableMember2022-12-310001102112pacw:A68ClassifiedMemberpacw:ResidentialRealEstateConstructionFinancingReceivableMember2022-12-310001102112pacw:TermLoansByOriginationDateMemberpacw:OriginationDate2021Memberpacw:ResidentialRealEstateConstructionFinancingReceivableMember2022-12-310001102112pacw:OriginationDate2020Memberpacw:TermLoansByOriginationDateMemberpacw:ResidentialRealEstateConstructionFinancingReceivableMember2022-12-310001102112pacw:TermLoansByOriginationDateMemberpacw:ResidentialRealEstateConstructionFinancingReceivableMemberpacw:OriginationDate2019Member2022-12-310001102112pacw:OriginationDate2018Memberpacw:TermLoansByOriginationDateMemberpacw:ResidentialRealEstateConstructionFinancingReceivableMember2022-12-310001102112pacw:TermLoansByOriginationDateMemberpacw:ResidentialRealEstateConstructionFinancingReceivableMemberpacw:OriginationDate2017Member2022-12-310001102112pacw:PriorMemberpacw:TermLoansByOriginationDateMemberpacw:ResidentialRealEstateConstructionFinancingReceivableMember2022-12-310001102112us-gaap:RevolvingCreditFacilityMemberpacw:ResidentialRealEstateConstructionFinancingReceivableMember2022-12-310001102112pacw:RevolvingConvertedToTermLoanMemberpacw:ResidentialRealEstateConstructionFinancingReceivableMember2022-12-310001102112pacw:ResidentialRealEstateConstructionFinancingReceivableMember2022-12-310001102112pacw:TermLoansByOriginationDateMemberpacw:OriginationDate2021Memberpacw:ResidentialRealEstateConstructionFinancingReceivableMember2022-01-012022-12-310001102112pacw:OriginationDate2020Memberpacw:TermLoansByOriginationDateMemberpacw:ResidentialRealEstateConstructionFinancingReceivableMember2022-01-012022-12-310001102112pacw:TermLoansByOriginationDateMemberpacw:ResidentialRealEstateConstructionFinancingReceivableMemberpacw:OriginationDate2019Member2022-01-012022-12-310001102112pacw:OriginationDate2018Memberpacw:TermLoansByOriginationDateMemberpacw:ResidentialRealEstateConstructionFinancingReceivableMember2022-01-012022-12-310001102112pacw:TermLoansByOriginationDateMemberpacw:ResidentialRealEstateConstructionFinancingReceivableMemberpacw:OriginationDate2017Member2022-01-012022-12-310001102112pacw:PriorMemberpacw:TermLoansByOriginationDateMemberpacw:ResidentialRealEstateConstructionFinancingReceivableMember2022-01-012022-12-310001102112us-gaap:RevolvingCreditFacilityMemberpacw:ResidentialRealEstateConstructionFinancingReceivableMember2022-01-012022-12-310001102112pacw:RevolvingConvertedToTermLoanMemberpacw:ResidentialRealEstateConstructionFinancingReceivableMember2022-01-012022-12-310001102112pacw:ResidentialRealEstateConstructionFinancingReceivableMember2022-01-012022-12-310001102112pacw:A12HighPassMemberus-gaap:CommercialPortfolioSegmentMemberpacw:AssetBasedMemberpacw:TermLoansByOriginationDateMemberpacw:OriginationDate2021Member2022-12-310001102112pacw:A12HighPassMemberus-gaap:CommercialPortfolioSegmentMemberpacw:OriginationDate2020Memberpacw:AssetBasedMemberpacw:TermLoansByOriginationDateMember2022-12-310001102112pacw:A12HighPassMemberus-gaap:CommercialPortfolioSegmentMemberpacw:AssetBasedMemberpacw:TermLoansByOriginationDateMemberpacw:OriginationDate2019Member2022-12-310001102112pacw:OriginationDate2018Memberpacw:A12HighPassMemberus-gaap:CommercialPortfolioSegmentMemberpacw:AssetBasedMemberpacw:TermLoansByOriginationDateMember2022-12-310001102112pacw:A12HighPassMemberus-gaap:CommercialPortfolioSegmentMemberpacw:AssetBasedMemberpacw:TermLoansByOriginationDateMemberpacw:OriginationDate2017Member2022-12-310001102112pacw:PriorMemberpacw:A12HighPassMemberus-gaap:CommercialPortfolioSegmentMemberpacw:AssetBasedMemberpacw:TermLoansByOriginationDateMember2022-12-310001102112us-gaap:RevolvingCreditFacilityMemberpacw:A12HighPassMemberus-gaap:CommercialPortfolioSegmentMemberpacw:AssetBasedMember2022-12-310001102112pacw:A12HighPassMemberus-gaap:CommercialPortfolioSegmentMemberpacw:AssetBasedMemberpacw:RevolvingConvertedToTermLoanMember2022-12-310001102112pacw:A12HighPassMemberus-gaap:CommercialPortfolioSegmentMemberpacw:AssetBasedMember2022-12-310001102112us-gaap:CommercialPortfolioSegmentMemberpacw:AssetBasedMemberpacw:TermLoansByOriginationDateMemberpacw:OriginationDate2021Memberpacw:A34PassMember2022-12-310001102112us-gaap:CommercialPortfolioSegmentMemberpacw:OriginationDate2020Memberpacw:AssetBasedMemberpacw:TermLoansByOriginationDateMemberpacw:A34PassMember2022-12-310001102112us-gaap:CommercialPortfolioSegmentMemberpacw:AssetBasedMemberpacw:TermLoansByOriginationDateMemberpacw:A34PassMemberpacw:OriginationDate2019Member2022-12-310001102112pacw:OriginationDate2018Memberus-gaap:CommercialPortfolioSegmentMemberpacw:AssetBasedMemberpacw:TermLoansByOriginationDateMemberpacw:A34PassMember2022-12-310001102112us-gaap:CommercialPortfolioSegmentMemberpacw:AssetBasedMemberpacw:TermLoansByOriginationDateMemberpacw:A34PassMemberpacw:OriginationDate2017Member2022-12-310001102112pacw:PriorMemberus-gaap:CommercialPortfolioSegmentMemberpacw:AssetBasedMemberpacw:TermLoansByOriginationDateMemberpacw:A34PassMember2022-12-310001102112us-gaap:RevolvingCreditFacilityMemberus-gaap:CommercialPortfolioSegmentMemberpacw:AssetBasedMemberpacw:A34PassMember2022-12-310001102112us-gaap:CommercialPortfolioSegmentMemberpacw:AssetBasedMemberpacw:A34PassMemberpacw:RevolvingConvertedToTermLoanMember2022-12-310001102112us-gaap:CommercialPortfolioSegmentMemberpacw:AssetBasedMemberpacw:A34PassMember2022-12-310001102112us-gaap:CommercialPortfolioSegmentMemberpacw:AssetBasedMemberpacw:TermLoansByOriginationDateMemberpacw:OriginationDate2021Memberpacw:A5SpecialMentionMember2022-12-310001102112us-gaap:CommercialPortfolioSegmentMemberpacw:OriginationDate2020Memberpacw:AssetBasedMemberpacw:TermLoansByOriginationDateMemberpacw:A5SpecialMentionMember2022-12-310001102112us-gaap:CommercialPortfolioSegmentMemberpacw:AssetBasedMemberpacw:TermLoansByOriginationDateMemberpacw:A5SpecialMentionMemberpacw:OriginationDate2019Member2022-12-310001102112pacw:OriginationDate2018Memberus-gaap:CommercialPortfolioSegmentMemberpacw:AssetBasedMemberpacw:TermLoansByOriginationDateMemberpacw:A5SpecialMentionMember2022-12-310001102112us-gaap:CommercialPortfolioSegmentMemberpacw:AssetBasedMemberpacw:TermLoansByOriginationDateMemberpacw:A5SpecialMentionMemberpacw:OriginationDate2017Member2022-12-310001102112pacw:PriorMemberus-gaap:CommercialPortfolioSegmentMemberpacw:AssetBasedMemberpacw:TermLoansByOriginationDateMemberpacw:A5SpecialMentionMember2022-12-310001102112us-gaap:RevolvingCreditFacilityMemberus-gaap:CommercialPortfolioSegmentMemberpacw:AssetBasedMemberpacw:A5SpecialMentionMember2022-12-310001102112us-gaap:CommercialPortfolioSegmentMemberpacw:AssetBasedMemberpacw:RevolvingConvertedToTermLoanMemberpacw:A5SpecialMentionMember2022-12-310001102112us-gaap:CommercialPortfolioSegmentMemberpacw:AssetBasedMemberpacw:A5SpecialMentionMember2022-12-310001102112us-gaap:CommercialPortfolioSegmentMemberpacw:A68ClassifiedMemberpacw:AssetBasedMemberpacw:TermLoansByOriginationDateMemberpacw:OriginationDate2021Member2022-12-310001102112us-gaap:CommercialPortfolioSegmentMemberpacw:OriginationDate2020Memberpacw:A68ClassifiedMemberpacw:AssetBasedMemberpacw:TermLoansByOriginationDateMember2022-12-310001102112us-gaap:CommercialPortfolioSegmentMemberpacw:A68ClassifiedMemberpacw:AssetBasedMemberpacw:TermLoansByOriginationDateMemberpacw:OriginationDate2019Member2022-12-310001102112pacw:OriginationDate2018Memberus-gaap:CommercialPortfolioSegmentMemberpacw:A68ClassifiedMemberpacw:AssetBasedMemberpacw:TermLoansByOriginationDateMember2022-12-310001102112us-gaap:CommercialPortfolioSegmentMemberpacw:A68ClassifiedMemberpacw:AssetBasedMemberpacw:TermLoansByOriginationDateMemberpacw:OriginationDate2017Member2022-12-310001102112pacw:PriorMemberus-gaap:CommercialPortfolioSegmentMemberpacw:A68ClassifiedMemberpacw:AssetBasedMemberpacw:TermLoansByOriginationDateMember2022-12-310001102112us-gaap:RevolvingCreditFacilityMemberus-gaap:CommercialPortfolioSegmentMemberpacw:A68ClassifiedMemberpacw:AssetBasedMember2022-12-310001102112us-gaap:CommercialPortfolioSegmentMemberpacw:A68ClassifiedMemberpacw:AssetBasedMemberpacw:RevolvingConvertedToTermLoanMember2022-12-310001102112us-gaap:CommercialPortfolioSegmentMemberpacw:A68ClassifiedMemberpacw:AssetBasedMember2022-12-310001102112us-gaap:CommercialPortfolioSegmentMemberpacw:AssetBasedMemberpacw:TermLoansByOriginationDateMemberpacw:OriginationDate2021Member2022-12-310001102112us-gaap:CommercialPortfolioSegmentMemberpacw:OriginationDate2020Memberpacw:AssetBasedMemberpacw:TermLoansByOriginationDateMember2022-12-310001102112us-gaap:CommercialPortfolioSegmentMemberpacw:AssetBasedMemberpacw:TermLoansByOriginationDateMemberpacw:OriginationDate2019Member2022-12-310001102112pacw:OriginationDate2018Memberus-gaap:CommercialPortfolioSegmentMemberpacw:AssetBasedMemberpacw:TermLoansByOriginationDateMember2022-12-310001102112us-gaap:CommercialPortfolioSegmentMemberpacw:AssetBasedMemberpacw:TermLoansByOriginationDateMemberpacw:OriginationDate2017Member2022-12-310001102112pacw:PriorMemberus-gaap:CommercialPortfolioSegmentMemberpacw:AssetBasedMemberpacw:TermLoansByOriginationDateMember2022-12-310001102112us-gaap:RevolvingCreditFacilityMemberus-gaap:CommercialPortfolioSegmentMemberpacw:AssetBasedMember2022-12-310001102112us-gaap:CommercialPortfolioSegmentMemberpacw:AssetBasedMemberpacw:RevolvingConvertedToTermLoanMember2022-12-310001102112us-gaap:CommercialPortfolioSegmentMemberpacw:AssetBasedMemberpacw:TermLoansByOriginationDateMemberpacw:OriginationDate2021Member2022-01-012022-12-310001102112us-gaap:CommercialPortfolioSegmentMemberpacw:OriginationDate2020Memberpacw:AssetBasedMemberpacw:TermLoansByOriginationDateMember2022-01-012022-12-310001102112us-gaap:CommercialPortfolioSegmentMemberpacw:AssetBasedMemberpacw:TermLoansByOriginationDateMemberpacw:OriginationDate2019Member2022-01-012022-12-310001102112pacw:OriginationDate2018Memberus-gaap:CommercialPortfolioSegmentMemberpacw:AssetBasedMemberpacw:TermLoansByOriginationDateMember2022-01-012022-12-310001102112us-gaap:CommercialPortfolioSegmentMemberpacw:AssetBasedMemberpacw:TermLoansByOriginationDateMemberpacw:OriginationDate2017Member2022-01-012022-12-310001102112pacw:PriorMemberus-gaap:CommercialPortfolioSegmentMemberpacw:AssetBasedMemberpacw:TermLoansByOriginationDateMember2022-01-012022-12-310001102112us-gaap:RevolvingCreditFacilityMemberus-gaap:CommercialPortfolioSegmentMemberpacw:AssetBasedMember2022-01-012022-12-310001102112us-gaap:CommercialPortfolioSegmentMemberpacw:AssetBasedMemberpacw:RevolvingConvertedToTermLoanMember2022-01-012022-12-310001102112us-gaap:CommercialPortfolioSegmentMemberpacw:AssetBasedMember2022-01-012022-12-310001102112pacw:A12HighPassMemberpacw:TermLoansByOriginationDateMemberpacw:OriginationDate2021Memberpacw:VentureCapitalLoansMemberpacw:VentureCapitalLoansMember2022-12-310001102112pacw:A12HighPassMemberpacw:OriginationDate2020Memberpacw:TermLoansByOriginationDateMemberpacw:VentureCapitalLoansMemberpacw:VentureCapitalLoansMember2022-12-310001102112pacw:A12HighPassMemberpacw:TermLoansByOriginationDateMemberpacw:OriginationDate2019Memberpacw:VentureCapitalLoansMemberpacw:VentureCapitalLoansMember2022-12-310001102112pacw:OriginationDate2018Memberpacw:A12HighPassMemberpacw:TermLoansByOriginationDateMemberpacw:VentureCapitalLoansMemberpacw:VentureCapitalLoansMember2022-12-310001102112pacw:A12HighPassMemberpacw:TermLoansByOriginationDateMemberpacw:OriginationDate2017Memberpacw:VentureCapitalLoansMemberpacw:VentureCapitalLoansMember2022-12-310001102112pacw:PriorMemberpacw:A12HighPassMemberpacw:TermLoansByOriginationDateMemberpacw:VentureCapitalLoansMemberpacw:VentureCapitalLoansMember2022-12-310001102112us-gaap:RevolvingCreditFacilityMemberpacw:A12HighPassMemberpacw:VentureCapitalLoansMemberpacw:VentureCapitalLoansMember2022-12-310001102112pacw:A12HighPassMemberpacw:RevolvingConvertedToTermLoanMemberpacw:VentureCapitalLoansMemberpacw:VentureCapitalLoansMember2022-12-310001102112pacw:A12HighPassMemberpacw:VentureCapitalLoansMemberpacw:VentureCapitalLoansMember2022-12-310001102112pacw:TermLoansByOriginationDateMemberpacw:OriginationDate2021Memberpacw:A34PassMemberpacw:VentureCapitalLoansMemberpacw:VentureCapitalLoansMember2022-12-310001102112pacw:OriginationDate2020Memberpacw:TermLoansByOriginationDateMemberpacw:A34PassMemberpacw:VentureCapitalLoansMemberpacw:VentureCapitalLoansMember2022-12-310001102112pacw:TermLoansByOriginationDateMemberpacw:A34PassMemberpacw:OriginationDate2019Memberpacw:VentureCapitalLoansMemberpacw:VentureCapitalLoansMember2022-12-310001102112pacw:OriginationDate2018Memberpacw:TermLoansByOriginationDateMemberpacw:A34PassMemberpacw:VentureCapitalLoansMemberpacw:VentureCapitalLoansMember2022-12-310001102112pacw:TermLoansByOriginationDateMemberpacw:A34PassMemberpacw:OriginationDate2017Memberpacw:VentureCapitalLoansMemberpacw:VentureCapitalLoansMember2022-12-310001102112pacw:PriorMemberpacw:TermLoansByOriginationDateMemberpacw:A34PassMemberpacw:VentureCapitalLoansMemberpacw:VentureCapitalLoansMember2022-12-310001102112us-gaap:RevolvingCreditFacilityMemberpacw:A34PassMemberpacw:VentureCapitalLoansMemberpacw:VentureCapitalLoansMember2022-12-310001102112pacw:A34PassMemberpacw:RevolvingConvertedToTermLoanMemberpacw:VentureCapitalLoansMemberpacw:VentureCapitalLoansMember2022-12-310001102112pacw:A34PassMemberpacw:VentureCapitalLoansMemberpacw:VentureCapitalLoansMember2022-12-310001102112pacw:TermLoansByOriginationDateMemberpacw:OriginationDate2021Memberpacw:A5SpecialMentionMemberpacw:VentureCapitalLoansMemberpacw:VentureCapitalLoansMember2022-12-310001102112pacw:OriginationDate2020Memberpacw:TermLoansByOriginationDateMemberpacw:A5SpecialMentionMemberpacw:VentureCapitalLoansMemberpacw:VentureCapitalLoansMember2022-12-310001102112pacw:TermLoansByOriginationDateMemberpacw:A5SpecialMentionMemberpacw:OriginationDate2019Memberpacw:VentureCapitalLoansMemberpacw:VentureCapitalLoansMember2022-12-310001102112pacw:OriginationDate2018Memberpacw:TermLoansByOriginationDateMemberpacw:A5SpecialMentionMemberpacw:VentureCapitalLoansMemberpacw:VentureCapitalLoansMember2022-12-310001102112pacw:TermLoansByOriginationDateMemberpacw:A5SpecialMentionMemberpacw:OriginationDate2017Memberpacw:VentureCapitalLoansMemberpacw:VentureCapitalLoansMember2022-12-310001102112pacw:PriorMemberpacw:TermLoansByOriginationDateMemberpacw:A5SpecialMentionMemberpacw:VentureCapitalLoansMemberpacw:VentureCapitalLoansMember2022-12-310001102112us-gaap:RevolvingCreditFacilityMemberpacw:A5SpecialMentionMemberpacw:VentureCapitalLoansMemberpacw:VentureCapitalLoansMember2022-12-310001102112pacw:RevolvingConvertedToTermLoanMemberpacw:A5SpecialMentionMemberpacw:VentureCapitalLoansMemberpacw:VentureCapitalLoansMember2022-12-310001102112pacw:A5SpecialMentionMemberpacw:VentureCapitalLoansMemberpacw:VentureCapitalLoansMember2022-12-310001102112pacw:A68ClassifiedMemberpacw:TermLoansByOriginationDateMemberpacw:OriginationDate2021Memberpacw:VentureCapitalLoansMemberpacw:VentureCapitalLoansMember2022-12-310001102112pacw:OriginationDate2020Memberpacw:A68ClassifiedMemberpacw:TermLoansByOriginationDateMemberpacw:VentureCapitalLoansMemberpacw:VentureCapitalLoansMember2022-12-310001102112pacw:A68ClassifiedMemberpacw:TermLoansByOriginationDateMemberpacw:OriginationDate2019Memberpacw:VentureCapitalLoansMemberpacw:VentureCapitalLoansMember2022-12-310001102112pacw:OriginationDate2018Memberpacw:A68ClassifiedMemberpacw:TermLoansByOriginationDateMemberpacw:VentureCapitalLoansMemberpacw:VentureCapitalLoansMember2022-12-310001102112pacw:A68ClassifiedMemberpacw:TermLoansByOriginationDateMemberpacw:OriginationDate2017Memberpacw:VentureCapitalLoansMemberpacw:VentureCapitalLoansMember2022-12-310001102112pacw:PriorMemberpacw:A68ClassifiedMemberpacw:TermLoansByOriginationDateMemberpacw:VentureCapitalLoansMemberpacw:VentureCapitalLoansMember2022-12-310001102112us-gaap:RevolvingCreditFacilityMemberpacw:A68ClassifiedMemberpacw:VentureCapitalLoansMemberpacw:VentureCapitalLoansMember2022-12-310001102112pacw:A68ClassifiedMemberpacw:RevolvingConvertedToTermLoanMemberpacw:VentureCapitalLoansMemberpacw:VentureCapitalLoansMember2022-12-310001102112pacw:A68ClassifiedMemberpacw:VentureCapitalLoansMemberpacw:VentureCapitalLoansMember2022-12-310001102112pacw:TermLoansByOriginationDateMemberpacw:OriginationDate2021Memberpacw:VentureCapitalLoansMemberpacw:VentureCapitalLoansMember2022-12-310001102112pacw:OriginationDate2020Memberpacw:TermLoansByOriginationDateMemberpacw:VentureCapitalLoansMemberpacw:VentureCapitalLoansMember2022-12-310001102112pacw:TermLoansByOriginationDateMemberpacw:OriginationDate2019Memberpacw:VentureCapitalLoansMemberpacw:VentureCapitalLoansMember2022-12-310001102112pacw:OriginationDate2018Memberpacw:TermLoansByOriginationDateMemberpacw:VentureCapitalLoansMemberpacw:VentureCapitalLoansMember2022-12-310001102112pacw:TermLoansByOriginationDateMemberpacw:OriginationDate2017Memberpacw:VentureCapitalLoansMemberpacw:VentureCapitalLoansMember2022-12-310001102112pacw:PriorMemberpacw:TermLoansByOriginationDateMemberpacw:VentureCapitalLoansMemberpacw:VentureCapitalLoansMember2022-12-310001102112us-gaap:RevolvingCreditFacilityMemberpacw:VentureCapitalLoansMemberpacw:VentureCapitalLoansMember2022-12-310001102112pacw:RevolvingConvertedToTermLoanMemberpacw:VentureCapitalLoansMemberpacw:VentureCapitalLoansMember2022-12-310001102112pacw:VentureCapitalLoansMemberpacw:VentureCapitalLoansMember2022-12-310001102112pacw:TermLoansByOriginationDateMemberpacw:OriginationDate2021Memberpacw:VentureCapitalLoansMemberpacw:VentureCapitalLoansMember2022-01-012022-12-310001102112pacw:OriginationDate2020Memberpacw:TermLoansByOriginationDateMemberpacw:VentureCapitalLoansMemberpacw:VentureCapitalLoansMember2022-01-012022-12-310001102112pacw:TermLoansByOriginationDateMemberpacw:OriginationDate2019Memberpacw:VentureCapitalLoansMemberpacw:VentureCapitalLoansMember2022-01-012022-12-310001102112pacw:OriginationDate2018Memberpacw:TermLoansByOriginationDateMemberpacw:VentureCapitalLoansMemberpacw:VentureCapitalLoansMember2022-01-012022-12-310001102112pacw:TermLoansByOriginationDateMemberpacw:OriginationDate2017Memberpacw:VentureCapitalLoansMemberpacw:VentureCapitalLoansMember2022-01-012022-12-310001102112pacw:PriorMemberpacw:TermLoansByOriginationDateMemberpacw:VentureCapitalLoansMemberpacw:VentureCapitalLoansMember2022-01-012022-12-310001102112us-gaap:RevolvingCreditFacilityMemberpacw:VentureCapitalLoansMemberpacw:VentureCapitalLoansMember2022-01-012022-12-310001102112pacw:RevolvingConvertedToTermLoanMemberpacw:VentureCapitalLoansMemberpacw:VentureCapitalLoansMember2022-01-012022-12-310001102112pacw:VentureCapitalLoansMemberpacw:VentureCapitalLoansMember2022-01-012022-12-310001102112pacw:A12HighPassMemberus-gaap:CommercialPortfolioSegmentMemberpacw:OtherCommercialMemberpacw:TermLoansByOriginationDateMemberpacw:OriginationDate2021Member2022-12-310001102112pacw:A12HighPassMemberus-gaap:CommercialPortfolioSegmentMemberpacw:OriginationDate2020Memberpacw:OtherCommercialMemberpacw:TermLoansByOriginationDateMember2022-12-310001102112pacw:A12HighPassMemberus-gaap:CommercialPortfolioSegmentMemberpacw:OtherCommercialMemberpacw:TermLoansByOriginationDateMemberpacw:OriginationDate2019Member2022-12-310001102112pacw:OriginationDate2018Memberpacw:A12HighPassMemberus-gaap:CommercialPortfolioSegmentMemberpacw:OtherCommercialMemberpacw:TermLoansByOriginationDateMember2022-12-310001102112pacw:A12HighPassMemberus-gaap:CommercialPortfolioSegmentMemberpacw:OtherCommercialMemberpacw:TermLoansByOriginationDateMemberpacw:OriginationDate2017Member2022-12-310001102112pacw:PriorMemberpacw:A12HighPassMemberus-gaap:CommercialPortfolioSegmentMemberpacw:OtherCommercialMemberpacw:TermLoansByOriginationDateMember2022-12-310001102112us-gaap:RevolvingCreditFacilityMemberpacw:A12HighPassMemberus-gaap:CommercialPortfolioSegmentMemberpacw:OtherCommercialMember2022-12-310001102112pacw:A12HighPassMemberus-gaap:CommercialPortfolioSegmentMemberpacw:OtherCommercialMemberpacw:RevolvingConvertedToTermLoanMember2022-12-310001102112pacw:A12HighPassMemberus-gaap:CommercialPortfolioSegmentMemberpacw:OtherCommercialMember2022-12-310001102112us-gaap:CommercialPortfolioSegmentMemberpacw:OtherCommercialMemberpacw:TermLoansByOriginationDateMemberpacw:OriginationDate2021Memberpacw:A34PassMember2022-12-310001102112us-gaap:CommercialPortfolioSegmentMemberpacw:OriginationDate2020Memberpacw:OtherCommercialMemberpacw:TermLoansByOriginationDateMemberpacw:A34PassMember2022-12-310001102112us-gaap:CommercialPortfolioSegmentMemberpacw:OtherCommercialMemberpacw:TermLoansByOriginationDateMemberpacw:A34PassMemberpacw:OriginationDate2019Member2022-12-310001102112pacw:OriginationDate2018Memberus-gaap:CommercialPortfolioSegmentMemberpacw:OtherCommercialMemberpacw:TermLoansByOriginationDateMemberpacw:A34PassMember2022-12-310001102112us-gaap:CommercialPortfolioSegmentMemberpacw:OtherCommercialMemberpacw:TermLoansByOriginationDateMemberpacw:A34PassMemberpacw:OriginationDate2017Member2022-12-310001102112pacw:PriorMemberus-gaap:CommercialPortfolioSegmentMemberpacw:OtherCommercialMemberpacw:TermLoansByOriginationDateMemberpacw:A34PassMember2022-12-310001102112us-gaap:RevolvingCreditFacilityMemberus-gaap:CommercialPortfolioSegmentMemberpacw:OtherCommercialMemberpacw:A34PassMember2022-12-310001102112us-gaap:CommercialPortfolioSegmentMemberpacw:OtherCommercialMemberpacw:A34PassMemberpacw:RevolvingConvertedToTermLoanMember2022-12-310001102112us-gaap:CommercialPortfolioSegmentMemberpacw:OtherCommercialMemberpacw:A34PassMember2022-12-310001102112us-gaap:CommercialPortfolioSegmentMemberpacw:OtherCommercialMemberpacw:TermLoansByOriginationDateMemberpacw:OriginationDate2021Memberpacw:A5SpecialMentionMember2022-12-310001102112us-gaap:CommercialPortfolioSegmentMemberpacw:OriginationDate2020Memberpacw:OtherCommercialMemberpacw:TermLoansByOriginationDateMemberpacw:A5SpecialMentionMember2022-12-310001102112us-gaap:CommercialPortfolioSegmentMemberpacw:OtherCommercialMemberpacw:TermLoansByOriginationDateMemberpacw:A5SpecialMentionMemberpacw:OriginationDate2019Member2022-12-310001102112pacw:OriginationDate2018Memberus-gaap:CommercialPortfolioSegmentMemberpacw:OtherCommercialMemberpacw:TermLoansByOriginationDateMemberpacw:A5SpecialMentionMember2022-12-310001102112us-gaap:CommercialPortfolioSegmentMemberpacw:OtherCommercialMemberpacw:TermLoansByOriginationDateMemberpacw:A5SpecialMentionMemberpacw:OriginationDate2017Member2022-12-310001102112pacw:PriorMemberus-gaap:CommercialPortfolioSegmentMemberpacw:OtherCommercialMemberpacw:TermLoansByOriginationDateMemberpacw:A5SpecialMentionMember2022-12-310001102112us-gaap:RevolvingCreditFacilityMemberus-gaap:CommercialPortfolioSegmentMemberpacw:OtherCommercialMemberpacw:A5SpecialMentionMember2022-12-310001102112us-gaap:CommercialPortfolioSegmentMemberpacw:OtherCommercialMemberpacw:RevolvingConvertedToTermLoanMemberpacw:A5SpecialMentionMember2022-12-310001102112us-gaap:CommercialPortfolioSegmentMemberpacw:OtherCommercialMemberpacw:A5SpecialMentionMember2022-12-310001102112us-gaap:CommercialPortfolioSegmentMemberpacw:OtherCommercialMemberpacw:A68ClassifiedMemberpacw:TermLoansByOriginationDateMemberpacw:OriginationDate2021Member2022-12-310001102112us-gaap:CommercialPortfolioSegmentMemberpacw:OriginationDate2020Memberpacw:OtherCommercialMemberpacw:A68ClassifiedMemberpacw:TermLoansByOriginationDateMember2022-12-310001102112us-gaap:CommercialPortfolioSegmentMemberpacw:OtherCommercialMemberpacw:A68ClassifiedMemberpacw:TermLoansByOriginationDateMemberpacw:OriginationDate2019Member2022-12-310001102112pacw:OriginationDate2018Memberus-gaap:CommercialPortfolioSegmentMemberpacw:OtherCommercialMemberpacw:A68ClassifiedMemberpacw:TermLoansByOriginationDateMember2022-12-310001102112us-gaap:CommercialPortfolioSegmentMemberpacw:OtherCommercialMemberpacw:A68ClassifiedMemberpacw:TermLoansByOriginationDateMemberpacw:OriginationDate2017Member2022-12-310001102112pacw:PriorMemberus-gaap:CommercialPortfolioSegmentMemberpacw:OtherCommercialMemberpacw:A68ClassifiedMemberpacw:TermLoansByOriginationDateMember2022-12-310001102112us-gaap:RevolvingCreditFacilityMemberus-gaap:CommercialPortfolioSegmentMemberpacw:OtherCommercialMemberpacw:A68ClassifiedMember2022-12-310001102112us-gaap:CommercialPortfolioSegmentMemberpacw:OtherCommercialMemberpacw:A68ClassifiedMemberpacw:RevolvingConvertedToTermLoanMember2022-12-310001102112us-gaap:CommercialPortfolioSegmentMemberpacw:OtherCommercialMemberpacw:A68ClassifiedMember2022-12-310001102112us-gaap:CommercialPortfolioSegmentMemberpacw:OtherCommercialMemberpacw:TermLoansByOriginationDateMemberpacw:OriginationDate2021Member2022-12-310001102112us-gaap:CommercialPortfolioSegmentMemberpacw:OriginationDate2020Memberpacw:OtherCommercialMemberpacw:TermLoansByOriginationDateMember2022-12-310001102112us-gaap:CommercialPortfolioSegmentMemberpacw:OtherCommercialMemberpacw:TermLoansByOriginationDateMemberpacw:OriginationDate2019Member2022-12-310001102112pacw:OriginationDate2018Memberus-gaap:CommercialPortfolioSegmentMemberpacw:OtherCommercialMemberpacw:TermLoansByOriginationDateMember2022-12-310001102112us-gaap:CommercialPortfolioSegmentMemberpacw:OtherCommercialMemberpacw:TermLoansByOriginationDateMemberpacw:OriginationDate2017Member2022-12-310001102112pacw:PriorMemberus-gaap:CommercialPortfolioSegmentMemberpacw:OtherCommercialMemberpacw:TermLoansByOriginationDateMember2022-12-310001102112us-gaap:RevolvingCreditFacilityMemberus-gaap:CommercialPortfolioSegmentMemberpacw:OtherCommercialMember2022-12-310001102112us-gaap:CommercialPortfolioSegmentMemberpacw:OtherCommercialMemberpacw:RevolvingConvertedToTermLoanMember2022-12-310001102112us-gaap:CommercialPortfolioSegmentMemberpacw:OtherCommercialMemberpacw:TermLoansByOriginationDateMemberpacw:OriginationDate2021Member2022-01-012022-12-310001102112us-gaap:CommercialPortfolioSegmentMemberpacw:OriginationDate2020Memberpacw:OtherCommercialMemberpacw:TermLoansByOriginationDateMember2022-01-012022-12-310001102112us-gaap:CommercialPortfolioSegmentMemberpacw:OtherCommercialMemberpacw:TermLoansByOriginationDateMemberpacw:OriginationDate2019Member2022-01-012022-12-310001102112pacw:OriginationDate2018Memberus-gaap:CommercialPortfolioSegmentMemberpacw:OtherCommercialMemberpacw:TermLoansByOriginationDateMember2022-01-012022-12-310001102112us-gaap:CommercialPortfolioSegmentMemberpacw:OtherCommercialMemberpacw:TermLoansByOriginationDateMemberpacw:OriginationDate2017Member2022-01-012022-12-310001102112pacw:PriorMemberus-gaap:CommercialPortfolioSegmentMemberpacw:OtherCommercialMemberpacw:TermLoansByOriginationDateMember2022-01-012022-12-310001102112us-gaap:RevolvingCreditFacilityMemberus-gaap:CommercialPortfolioSegmentMemberpacw:OtherCommercialMember2022-01-012022-12-310001102112us-gaap:CommercialPortfolioSegmentMemberpacw:OtherCommercialMemberpacw:RevolvingConvertedToTermLoanMember2022-01-012022-12-310001102112us-gaap:CommercialPortfolioSegmentMemberpacw:OtherCommercialMember2022-01-012022-12-310001102112pacw:A12HighPassMemberus-gaap:ConsumerPortfolioSegmentMemberpacw:TermLoansByOriginationDateMemberpacw:OriginationDate2021Member2022-12-310001102112pacw:A12HighPassMemberus-gaap:ConsumerPortfolioSegmentMemberpacw:OriginationDate2020Memberpacw:TermLoansByOriginationDateMember2022-12-310001102112pacw:A12HighPassMemberus-gaap:ConsumerPortfolioSegmentMemberpacw:TermLoansByOriginationDateMemberpacw:OriginationDate2019Member2022-12-310001102112pacw:OriginationDate2018Memberpacw:A12HighPassMemberus-gaap:ConsumerPortfolioSegmentMemberpacw:TermLoansByOriginationDateMember2022-12-310001102112pacw:A12HighPassMemberus-gaap:ConsumerPortfolioSegmentMemberpacw:TermLoansByOriginationDateMemberpacw:OriginationDate2017Member2022-12-310001102112pacw:PriorMemberpacw:A12HighPassMemberus-gaap:ConsumerPortfolioSegmentMemberpacw:TermLoansByOriginationDateMember2022-12-310001102112us-gaap:RevolvingCreditFacilityMemberpacw:A12HighPassMemberus-gaap:ConsumerPortfolioSegmentMember2022-12-310001102112pacw:A12HighPassMemberus-gaap:ConsumerPortfolioSegmentMemberpacw:RevolvingConvertedToTermLoanMember2022-12-310001102112pacw:A12HighPassMemberus-gaap:ConsumerPortfolioSegmentMember2022-12-310001102112us-gaap:ConsumerPortfolioSegmentMemberpacw:TermLoansByOriginationDateMemberpacw:OriginationDate2021Memberpacw:A34PassMember2022-12-310001102112us-gaap:ConsumerPortfolioSegmentMemberpacw:OriginationDate2020Memberpacw:TermLoansByOriginationDateMemberpacw:A34PassMember2022-12-310001102112us-gaap:ConsumerPortfolioSegmentMemberpacw:TermLoansByOriginationDateMemberpacw:A34PassMemberpacw:OriginationDate2019Member2022-12-310001102112pacw:OriginationDate2018Memberus-gaap:ConsumerPortfolioSegmentMemberpacw:TermLoansByOriginationDateMemberpacw:A34PassMember2022-12-310001102112us-gaap:ConsumerPortfolioSegmentMemberpacw:TermLoansByOriginationDateMemberpacw:A34PassMemberpacw:OriginationDate2017Member2022-12-310001102112pacw:PriorMemberus-gaap:ConsumerPortfolioSegmentMemberpacw:TermLoansByOriginationDateMemberpacw:A34PassMember2022-12-310001102112us-gaap:RevolvingCreditFacilityMemberus-gaap:ConsumerPortfolioSegmentMemberpacw:A34PassMember2022-12-310001102112us-gaap:ConsumerPortfolioSegmentMemberpacw:A34PassMemberpacw:RevolvingConvertedToTermLoanMember2022-12-310001102112us-gaap:ConsumerPortfolioSegmentMemberpacw:A34PassMember2022-12-310001102112us-gaap:ConsumerPortfolioSegmentMemberpacw:TermLoansByOriginationDateMemberpacw:OriginationDate2021Memberpacw:A5SpecialMentionMember2022-12-310001102112us-gaap:ConsumerPortfolioSegmentMemberpacw:OriginationDate2020Memberpacw:TermLoansByOriginationDateMemberpacw:A5SpecialMentionMember2022-12-310001102112us-gaap:ConsumerPortfolioSegmentMemberpacw:TermLoansByOriginationDateMemberpacw:A5SpecialMentionMemberpacw:OriginationDate2019Member2022-12-310001102112pacw:OriginationDate2018Memberus-gaap:ConsumerPortfolioSegmentMemberpacw:TermLoansByOriginationDateMemberpacw:A5SpecialMentionMember2022-12-310001102112us-gaap:ConsumerPortfolioSegmentMemberpacw:TermLoansByOriginationDateMemberpacw:A5SpecialMentionMemberpacw:OriginationDate2017Member2022-12-310001102112pacw:PriorMemberus-gaap:ConsumerPortfolioSegmentMemberpacw:TermLoansByOriginationDateMemberpacw:A5SpecialMentionMember2022-12-310001102112us-gaap:RevolvingCreditFacilityMemberus-gaap:ConsumerPortfolioSegmentMemberpacw:A5SpecialMentionMember2022-12-310001102112us-gaap:ConsumerPortfolioSegmentMemberpacw:RevolvingConvertedToTermLoanMemberpacw:A5SpecialMentionMember2022-12-310001102112us-gaap:ConsumerPortfolioSegmentMemberpacw:A5SpecialMentionMember2022-12-310001102112us-gaap:ConsumerPortfolioSegmentMemberpacw:A68ClassifiedMemberpacw:TermLoansByOriginationDateMemberpacw:OriginationDate2021Member2022-12-310001102112us-gaap:ConsumerPortfolioSegmentMemberpacw:OriginationDate2020Memberpacw:A68ClassifiedMemberpacw:TermLoansByOriginationDateMember2022-12-310001102112us-gaap:ConsumerPortfolioSegmentMemberpacw:A68ClassifiedMemberpacw:TermLoansByOriginationDateMemberpacw:OriginationDate2019Member2022-12-310001102112pacw:OriginationDate2018Memberus-gaap:ConsumerPortfolioSegmentMemberpacw:A68ClassifiedMemberpacw:TermLoansByOriginationDateMember2022-12-310001102112us-gaap:ConsumerPortfolioSegmentMemberpacw:A68ClassifiedMemberpacw:TermLoansByOriginationDateMemberpacw:OriginationDate2017Member2022-12-310001102112pacw:PriorMemberus-gaap:ConsumerPortfolioSegmentMemberpacw:A68ClassifiedMemberpacw:TermLoansByOriginationDateMember2022-12-310001102112us-gaap:RevolvingCreditFacilityMemberus-gaap:ConsumerPortfolioSegmentMemberpacw:A68ClassifiedMember2022-12-310001102112us-gaap:ConsumerPortfolioSegmentMemberpacw:A68ClassifiedMemberpacw:RevolvingConvertedToTermLoanMember2022-12-310001102112us-gaap:ConsumerPortfolioSegmentMemberpacw:A68ClassifiedMember2022-12-310001102112us-gaap:ConsumerPortfolioSegmentMemberpacw:TermLoansByOriginationDateMemberpacw:OriginationDate2021Member2022-12-310001102112us-gaap:ConsumerPortfolioSegmentMemberpacw:OriginationDate2020Memberpacw:TermLoansByOriginationDateMember2022-12-310001102112us-gaap:ConsumerPortfolioSegmentMemberpacw:TermLoansByOriginationDateMemberpacw:OriginationDate2019Member2022-12-310001102112pacw:OriginationDate2018Memberus-gaap:ConsumerPortfolioSegmentMemberpacw:TermLoansByOriginationDateMember2022-12-310001102112us-gaap:ConsumerPortfolioSegmentMemberpacw:TermLoansByOriginationDateMemberpacw:OriginationDate2017Member2022-12-310001102112pacw:PriorMemberus-gaap:ConsumerPortfolioSegmentMemberpacw:TermLoansByOriginationDateMember2022-12-310001102112us-gaap:RevolvingCreditFacilityMemberus-gaap:ConsumerPortfolioSegmentMember2022-12-310001102112us-gaap:ConsumerPortfolioSegmentMemberpacw:RevolvingConvertedToTermLoanMember2022-12-310001102112us-gaap:ConsumerPortfolioSegmentMemberpacw:TermLoansByOriginationDateMemberpacw:OriginationDate2021Member2022-01-012022-12-310001102112us-gaap:ConsumerPortfolioSegmentMemberpacw:OriginationDate2020Memberpacw:TermLoansByOriginationDateMember2022-01-012022-12-310001102112us-gaap:ConsumerPortfolioSegmentMemberpacw:TermLoansByOriginationDateMemberpacw:OriginationDate2019Member2022-01-012022-12-310001102112pacw:OriginationDate2018Memberus-gaap:ConsumerPortfolioSegmentMemberpacw:TermLoansByOriginationDateMember2022-01-012022-12-310001102112us-gaap:ConsumerPortfolioSegmentMemberpacw:TermLoansByOriginationDateMemberpacw:OriginationDate2017Member2022-01-012022-12-310001102112pacw:PriorMemberus-gaap:ConsumerPortfolioSegmentMemberpacw:TermLoansByOriginationDateMember2022-01-012022-12-310001102112us-gaap:RevolvingCreditFacilityMemberus-gaap:ConsumerPortfolioSegmentMember2022-01-012022-12-310001102112us-gaap:ConsumerPortfolioSegmentMemberpacw:RevolvingConvertedToTermLoanMember2022-01-012022-12-310001102112us-gaap:ConsumerPortfolioSegmentMember2022-01-012022-12-310001102112pacw:A12HighPassMemberpacw:TermLoansByOriginationDateMemberpacw:OriginationDate2021Member2022-12-310001102112pacw:A12HighPassMemberpacw:OriginationDate2020Memberpacw:TermLoansByOriginationDateMember2022-12-310001102112pacw:A12HighPassMemberpacw:TermLoansByOriginationDateMemberpacw:OriginationDate2019Member2022-12-310001102112pacw:OriginationDate2018Memberpacw:A12HighPassMemberpacw:TermLoansByOriginationDateMember2022-12-310001102112pacw:A12HighPassMemberpacw:TermLoansByOriginationDateMemberpacw:OriginationDate2017Member2022-12-310001102112pacw:PriorMemberpacw:A12HighPassMemberpacw:TermLoansByOriginationDateMember2022-12-310001102112us-gaap:RevolvingCreditFacilityMemberpacw:A12HighPassMember2022-12-310001102112pacw:A12HighPassMemberpacw:RevolvingConvertedToTermLoanMember2022-12-310001102112pacw:A12HighPassMember2022-12-310001102112pacw:TermLoansByOriginationDateMemberpacw:OriginationDate2021Memberpacw:A34PassMember2022-12-310001102112pacw:OriginationDate2020Memberpacw:TermLoansByOriginationDateMemberpacw:A34PassMember2022-12-310001102112pacw:TermLoansByOriginationDateMemberpacw:A34PassMemberpacw:OriginationDate2019Member2022-12-310001102112pacw:OriginationDate2018Memberpacw:TermLoansByOriginationDateMemberpacw:A34PassMember2022-12-310001102112pacw:TermLoansByOriginationDateMemberpacw:A34PassMemberpacw:OriginationDate2017Member2022-12-310001102112pacw:PriorMemberpacw:TermLoansByOriginationDateMemberpacw:A34PassMember2022-12-310001102112us-gaap:RevolvingCreditFacilityMemberpacw:A34PassMember2022-12-310001102112pacw:RevolvingConvertedToTermLoanMemberpacw:A34PassMember2022-12-310001102112pacw:A34PassMember2022-12-310001102112pacw:TermLoansByOriginationDateMemberpacw:OriginationDate2021Memberpacw:A5SpecialMentionMember2022-12-310001102112pacw:OriginationDate2020Memberpacw:TermLoansByOriginationDateMemberpacw:A5SpecialMentionMember2022-12-310001102112pacw:TermLoansByOriginationDateMemberpacw:A5SpecialMentionMemberpacw:OriginationDate2019Member2022-12-310001102112pacw:OriginationDate2018Memberpacw:TermLoansByOriginationDateMemberpacw:A5SpecialMentionMember2022-12-310001102112pacw:TermLoansByOriginationDateMemberpacw:A5SpecialMentionMemberpacw:OriginationDate2017Member2022-12-310001102112pacw:PriorMemberpacw:TermLoansByOriginationDateMemberpacw:A5SpecialMentionMember2022-12-310001102112us-gaap:RevolvingCreditFacilityMemberpacw:A5SpecialMentionMember2022-12-310001102112pacw:RevolvingConvertedToTermLoanMemberpacw:A5SpecialMentionMember2022-12-310001102112pacw:A5SpecialMentionMember2022-12-310001102112pacw:A68ClassifiedMemberpacw:TermLoansByOriginationDateMemberpacw:OriginationDate2021Member2022-12-310001102112pacw:OriginationDate2020Memberpacw:A68ClassifiedMemberpacw:TermLoansByOriginationDateMember2022-12-310001102112pacw:A68ClassifiedMemberpacw:TermLoansByOriginationDateMemberpacw:OriginationDate2019Member2022-12-310001102112pacw:OriginationDate2018Memberpacw:A68ClassifiedMemberpacw:TermLoansByOriginationDateMember2022-12-310001102112pacw:A68ClassifiedMemberpacw:TermLoansByOriginationDateMemberpacw:OriginationDate2017Member2022-12-310001102112pacw:PriorMemberpacw:A68ClassifiedMemberpacw:TermLoansByOriginationDateMember2022-12-310001102112us-gaap:RevolvingCreditFacilityMemberpacw:A68ClassifiedMember2022-12-310001102112pacw:A68ClassifiedMemberpacw:RevolvingConvertedToTermLoanMember2022-12-310001102112pacw:A68ClassifiedMember2022-12-310001102112pacw:TermLoansByOriginationDateMemberpacw:OriginationDate2021Member2022-12-310001102112pacw:OriginationDate2020Memberpacw:TermLoansByOriginationDateMember2022-12-310001102112pacw:TermLoansByOriginationDateMemberpacw:OriginationDate2019Member2022-12-310001102112pacw:OriginationDate2018Memberpacw:TermLoansByOriginationDateMember2022-12-310001102112pacw:TermLoansByOriginationDateMemberpacw:OriginationDate2017Member2022-12-310001102112pacw:PriorMemberpacw:TermLoansByOriginationDateMember2022-12-310001102112us-gaap:RevolvingCreditFacilityMember2022-12-310001102112pacw:RevolvingConvertedToTermLoanMember2022-12-310001102112pacw:TermLoansByOriginationDateMemberpacw:OriginationDate2021Member2022-01-012022-12-310001102112pacw:OriginationDate2020Memberpacw:TermLoansByOriginationDateMember2022-01-012022-12-310001102112pacw:TermLoansByOriginationDateMemberpacw:OriginationDate2019Member2022-01-012022-12-310001102112pacw:OriginationDate2018Memberpacw:TermLoansByOriginationDateMember2022-01-012022-12-310001102112pacw:TermLoansByOriginationDateMemberpacw:OriginationDate2017Member2022-01-012022-12-310001102112pacw:PriorMemberpacw:TermLoansByOriginationDateMember2022-01-012022-12-310001102112us-gaap:RevolvingCreditFacilityMember2022-01-012022-12-310001102112pacw:RevolvingConvertedToTermLoanMember2022-01-012022-12-310001102112pacw:OtherResidentialRealEstateMemberus-gaap:MortgagesMemberus-gaap:ExtendedMaturityMember2023-03-310001102112pacw:OtherResidentialRealEstateMemberus-gaap:MortgagesMemberpacw:PaymentDelayMember2023-03-310001102112pacw:OtherResidentialRealEstateMemberus-gaap:MortgagesMemberpacw:CombinationTermExtensionAndInterestRateReductionMember2023-03-310001102112pacw:OtherResidentialRealEstateMemberus-gaap:MortgagesMemberpacw:CombinationTermExtensionAndPaymentDelayMember2023-03-310001102112us-gaap:ExtendedMaturityMemberus-gaap:CommercialPortfolioSegmentMemberpacw:VentureCapitalLoansMember2023-03-310001102112us-gaap:CommercialPortfolioSegmentMemberpacw:PaymentDelayMemberpacw:VentureCapitalLoansMember2023-03-310001102112us-gaap:CommercialPortfolioSegmentMemberpacw:CombinationTermExtensionAndInterestRateReductionMemberpacw:VentureCapitalLoansMember2023-03-310001102112pacw:CombinationTermExtensionAndPaymentDelayMemberus-gaap:CommercialPortfolioSegmentMemberpacw:VentureCapitalLoansMember2023-03-310001102112us-gaap:ExtendedMaturityMemberus-gaap:CommercialPortfolioSegmentMemberpacw:OtherCommercialMember2023-03-310001102112us-gaap:CommercialPortfolioSegmentMemberpacw:OtherCommercialMemberpacw:PaymentDelayMember2023-03-310001102112us-gaap:CommercialPortfolioSegmentMemberpacw:CombinationTermExtensionAndInterestRateReductionMemberpacw:OtherCommercialMember2023-03-310001102112pacw:CombinationTermExtensionAndPaymentDelayMemberus-gaap:CommercialPortfolioSegmentMemberpacw:OtherCommercialMember2023-03-310001102112us-gaap:ExtendedMaturityMemberus-gaap:ConsumerPortfolioSegmentMember2023-03-310001102112us-gaap:ConsumerPortfolioSegmentMemberpacw:PaymentDelayMember2023-03-310001102112pacw:CombinationTermExtensionAndInterestRateReductionMemberus-gaap:ConsumerPortfolioSegmentMember2023-03-310001102112pacw:CombinationTermExtensionAndPaymentDelayMemberus-gaap:ConsumerPortfolioSegmentMember2023-03-310001102112us-gaap:ExtendedMaturityMember2023-03-310001102112pacw:PaymentDelayMember2023-03-310001102112pacw:CombinationTermExtensionAndInterestRateReductionMember2023-03-310001102112pacw:CombinationTermExtensionAndPaymentDelayMember2023-03-310001102112us-gaap:ConsumerPortfolioSegmentMemberpacw:LoanContractualRateReductionMemberpacw:LoanContractualInterestChangeFromRateMemberpacw:TermExtensionAndInterestRateReductionMember2023-01-012023-03-310001102112us-gaap:ConsumerPortfolioSegmentMemberpacw:LoanContractualRateReductionMemberpacw:TermExtensionAndInterestRateReductionMemberpacw:LoanContractualInterestChangeToRateMember2023-01-012023-03-310001102112pacw:CurrentMemberus-gaap:MortgagesMemberus-gaap:CommercialRealEstateMember2023-03-310001102112pacw:CurrentMemberus-gaap:MortgagesMemberpacw:MultiFamilyRealEstateLoansMember2023-03-310001102112pacw:OtherResidentialRealEstateMemberpacw:CurrentMemberus-gaap:MortgagesMember2023-03-310001102112pacw:CurrentMemberpacw:CommercialRealEstateConstructionLoanReceivableMemberpacw:RealEstateConstructionMember2023-03-310001102112pacw:CurrentMemberpacw:ResidentialRealEstateConstructionFinancingReceivableMemberpacw:RealEstateConstructionMember2023-03-310001102112pacw:CurrentMemberus-gaap:CommercialPortfolioSegmentMemberpacw:AssetBasedMember2023-03-310001102112pacw:CurrentMemberus-gaap:CommercialPortfolioSegmentMemberpacw:VentureCapitalLoansMember2023-03-310001102112pacw:CurrentMemberus-gaap:CommercialPortfolioSegmentMemberpacw:OtherCommercialMember2023-03-310001102112pacw:CurrentMemberus-gaap:ConsumerPortfolioSegmentMember2023-03-310001102112pacw:CurrentMember2023-03-310001102112us-gaap:MortgagesMemberpacw:MultiFamilyRealEstateLoansMember2022-01-012022-03-31pacw:contract0001102112us-gaap:CommercialPortfolioSegmentMemberpacw:OtherCommercialMember2022-01-012022-03-310001102112pacw:OtherCommercialMember2022-01-012022-03-310001102112us-gaap:MortgagesMember2021-12-310001102112pacw:RealEstateConstructionMember2021-12-310001102112us-gaap:CommercialPortfolioSegmentMember2021-12-310001102112us-gaap:ConsumerPortfolioSegmentMember2021-12-310001102112us-gaap:MortgagesMemberus-gaap:RealEstatePropertiesDomain2023-03-310001102112us-gaap:MortgagesMemberpacw:BusinessAssetsMember2023-03-310001102112us-gaap:MortgagesMemberus-gaap:RealEstatePropertiesDomain2022-12-310001102112us-gaap:MortgagesMemberpacw:BusinessAssetsMember2022-12-310001102112us-gaap:RealEstatePropertiesDomainpacw:RealEstateConstructionMember2023-03-310001102112pacw:BusinessAssetsMemberpacw:RealEstateConstructionMember2023-03-310001102112us-gaap:RealEstatePropertiesDomainpacw:RealEstateConstructionMember2022-12-310001102112pacw:BusinessAssetsMemberpacw:RealEstateConstructionMember2022-12-310001102112us-gaap:ConsumerPortfolioSegmentMemberus-gaap:RealEstatePropertiesDomain2023-03-310001102112us-gaap:ConsumerPortfolioSegmentMemberpacw:BusinessAssetsMember2023-03-310001102112us-gaap:ConsumerPortfolioSegmentMemberus-gaap:RealEstatePropertiesDomain2022-12-310001102112us-gaap:ConsumerPortfolioSegmentMemberpacw:BusinessAssetsMember2022-12-310001102112us-gaap:RealEstatePropertiesDomain2023-03-310001102112pacw:BusinessAssetsMember2023-03-310001102112us-gaap:RealEstatePropertiesDomain2022-12-310001102112pacw:BusinessAssetsMember2022-12-310001102112us-gaap:CommercialRealEstateMember2023-03-310001102112us-gaap:CommercialRealEstateMember2022-12-310001102112srt:SingleFamilyMember2023-03-310001102112srt:SingleFamilyMember2022-12-310001102112srt:FederalHomeLoanBankOfSanFranciscoMemberus-gaap:SecuredDebtMember2023-03-310001102112srt:FederalHomeLoanBankOfSanFranciscoMemberus-gaap:SecuredDebtMember2022-12-310001102112pacw:BankTermFundingProgramMembersrt:FederalHomeLoanBankOfSanFranciscoMemberus-gaap:SecuredDebtMember2023-03-310001102112pacw:BankTermFundingProgramMembersrt:FederalHomeLoanBankOfSanFranciscoMemberus-gaap:SecuredDebtMember2022-12-310001102112pacw:CreditLinkNotesMember2022-12-310001102112pacw:AmericanFinancialExchangeMember2023-03-310001102112pacw:AmericanFinancialExchangeMember2022-12-310001102112srt:FederalHomeLoanBankOfSanFranciscoMemberus-gaap:UnsecuredDebtMember2023-03-310001102112srt:FederalHomeLoanBankOfSanFranciscoMemberus-gaap:UnsecuredDebtMember2022-12-310001102112srt:FederalHomeLoanBankOfSanFranciscoMember2023-03-310001102112us-gaap:FederalReserveBankAdvancesMemberus-gaap:SecuredDebtMember2023-03-310001102112us-gaap:FederalReserveBankAdvancesMember2022-12-310001102112us-gaap:FederalReserveBankAdvancesMember2023-03-310001102112pacw:BankTermFundingProgramMemberus-gaap:FederalReserveBankAdvancesMemberus-gaap:SecuredDebtMember2023-03-310001102112us-gaap:RepurchaseAgreementsMember2023-03-310001102112pacw:OneToNineMonthsMember2023-03-310001102112pacw:TenTo18MonthsMember2023-03-310001102112pacw:CreditLinkNotesMemberpacw:LowestRateOfSpreadMember2023-03-310001102112pacw:HighestRateOfSpreadMemberpacw:CreditLinkNotesMember2023-03-310001102112pacw:CreditLinkNotesMemberpacw:InitialRateSpreadMember2023-03-310001102112us-gaap:UnusedLinesOfCreditMember2023-03-310001102112us-gaap:UnusedLinesOfCreditMember2023-01-012023-03-310001102112us-gaap:UnusedLinesOfCreditMember2022-12-310001102112us-gaap:SubordinatedDebtMemberpacw:SubordinatedNotesDueMay2031Member2023-03-310001102112us-gaap:SubordinatedDebtMemberpacw:SubordinatedNotesDueMay2031Member2022-12-310001102112pacw:SubordinatedDebtTrustVDueSeptember2033Memberus-gaap:SubordinatedDebtMember2023-03-310001102112pacw:SubordinatedDebtTrustVDueSeptember2033Memberus-gaap:SubordinatedDebtMember2022-12-310001102112pacw:SubordinatedDebtTrustVDueSeptember2033Memberus-gaap:LondonInterbankOfferedRateLIBORMember2023-01-012023-03-310001102112pacw:SubordinatedDebtTrustVIDueSeptember2033Memberus-gaap:SubordinatedDebtMember2023-03-310001102112pacw:SubordinatedDebtTrustVIDueSeptember2033Memberus-gaap:SubordinatedDebtMember2022-12-310001102112pacw:SubordinatedDebtTrustVIDueSeptember2033Memberus-gaap:LondonInterbankOfferedRateLIBORMember2023-01-012023-03-310001102112pacw:SubordinatedDebtTrustCIIDueSeptember2033Memberus-gaap:SubordinatedDebtMember2023-03-310001102112pacw:SubordinatedDebtTrustCIIDueSeptember2033Memberus-gaap:SubordinatedDebtMember2022-12-310001102112us-gaap:LondonInterbankOfferedRateLIBORMemberpacw:SubordinatedDebtTrustCIIDueSeptember2033Member2023-01-012023-03-310001102112pacw:SubordinatedDebtTrustVIIDueApril2034Memberus-gaap:SubordinatedDebtMember2023-03-310001102112pacw:SubordinatedDebtTrustVIIDueApril2034Memberus-gaap:SubordinatedDebtMember2022-12-310001102112pacw:SubordinatedDebtTrustVIIDueApril2034Memberus-gaap:LondonInterbankOfferedRateLIBORMember2023-01-012023-03-310001102112pacw:SubordinatedDebtTrustCIIIDueSeptember2035Memberus-gaap:SubordinatedDebtMember2023-03-310001102112pacw:SubordinatedDebtTrustCIIIDueSeptember2035Memberus-gaap:SubordinatedDebtMember2022-12-310001102112us-gaap:LondonInterbankOfferedRateLIBORMemberpacw:SubordinatedDebtTrustCIIIDueSeptember2035Member2023-01-012023-03-310001102112us-gaap:SubordinatedDebtMemberpacw:SubordinatedDebtTrustFCCIDueMarch2037Member2023-03-310001102112us-gaap:SubordinatedDebtMemberpacw:SubordinatedDebtTrustFCCIDueMarch2037Member2022-12-310001102112us-gaap:LondonInterbankOfferedRateLIBORMemberpacw:SubordinatedDebtTrustFCCIDueMarch2037Member2023-01-012023-03-310001102112pacw:SubordinatedDebtTrustFCBIDueDecember2035Memberus-gaap:SubordinatedDebtMember2023-03-310001102112pacw:SubordinatedDebtTrustFCBIDueDecember2035Memberus-gaap:SubordinatedDebtMember2022-12-310001102112pacw:SubordinatedDebtTrustFCBIDueDecember2035Memberus-gaap:LondonInterbankOfferedRateLIBORMember2023-01-012023-03-310001102112pacw:TrustPreferredSecuritiesTwoThousandFiveSeriesOneMemberus-gaap:SubordinatedDebtMember2023-03-310001102112pacw:TrustPreferredSecuritiesTwoThousandFiveSeriesOneMemberus-gaap:SubordinatedDebtMember2022-12-310001102112pacw:TrustPreferredSecuritiesTwoThousandFiveSeriesOneMemberus-gaap:LondonInterbankOfferedRateLIBORMember2023-01-012023-03-310001102112pacw:TrustPreferredSecuritiesTwoThousandFiveSeriesTwoMemberus-gaap:SubordinatedDebtMember2023-03-310001102112pacw:TrustPreferredSecuritiesTwoThousandFiveSeriesTwoMemberus-gaap:SubordinatedDebtMember2022-12-310001102112pacw:TrustPreferredSecuritiesTwoThousandFiveSeriesTwoMemberus-gaap:LondonInterbankOfferedRateLIBORMember2023-01-012023-03-310001102112us-gaap:SubordinatedDebtMemberpacw:TwoThousandSixOneTermDebtSecuritizationMember2023-03-310001102112us-gaap:SubordinatedDebtMemberpacw:TwoThousandSixOneTermDebtSecuritizationMember2022-12-310001102112us-gaap:LondonInterbankOfferedRateLIBORMemberpacw:TwoThousandSixOneTermDebtSecuritizationMember2023-01-012023-03-310001102112pacw:TwoThousandSixTwoTermDebtSecuritizationMemberus-gaap:SubordinatedDebtMember2023-03-310001102112pacw:TwoThousandSixTwoTermDebtSecuritizationMemberus-gaap:SubordinatedDebtMember2022-12-310001102112pacw:TwoThousandSixTwoTermDebtSecuritizationMemberus-gaap:LondonInterbankOfferedRateLIBORMember2023-01-012023-03-310001102112pacw:TrustPreferredSecuritiesTwoThousandSixSeriesThreeMemberus-gaap:SubordinatedDebtMember2023-03-310001102112pacw:TrustPreferredSecuritiesTwoThousandSixSeriesThreeMemberus-gaap:SubordinatedDebtMember2022-12-310001102112pacw:EuriborRateMemberpacw:TrustPreferredSecuritiesTwoThousandSixSeriesThreeMember2023-01-012023-03-310001102112pacw:TrustPreferredSecuritiesTwoThousandSixSeriesFourMemberus-gaap:SubordinatedDebtMember2023-03-310001102112pacw:TrustPreferredSecuritiesTwoThousandSixSeriesFourMemberus-gaap:SubordinatedDebtMember2022-12-310001102112us-gaap:LondonInterbankOfferedRateLIBORMemberpacw:TrustPreferredSecuritiesTwoThousandSixSeriesFourMember2023-01-012023-03-310001102112pacw:TrustPreferredSecuritiesTwoThousandSixSeriesFiveMemberus-gaap:SubordinatedDebtMember2023-03-310001102112pacw:TrustPreferredSecuritiesTwoThousandSixSeriesFiveMemberus-gaap:SubordinatedDebtMember2022-12-310001102112us-gaap:LondonInterbankOfferedRateLIBORMemberpacw:TrustPreferredSecuritiesTwoThousandSixSeriesFiveMember2023-01-012023-03-310001102112pacw:TrustPreferredSecuritiesTwoThousandSevenSeriesTwoMemberus-gaap:SubordinatedDebtMember2023-03-310001102112pacw:TrustPreferredSecuritiesTwoThousandSevenSeriesTwoMemberus-gaap:SubordinatedDebtMember2022-12-310001102112us-gaap:LondonInterbankOfferedRateLIBORMemberpacw:TrustPreferredSecuritiesTwoThousandSevenSeriesTwoMember2023-01-012023-03-310001102112us-gaap:SubordinatedDebtMember2023-03-310001102112us-gaap:SubordinatedDebtMember2022-12-310001102112pacw:SubordinatedNotesDueMay2031Member2023-01-012023-03-310001102112pacw:TrustPreferredSecuritiesTwoThousandSixSeriesThreeMember2023-03-31iso4217:EUR0001102112us-gaap:RepurchaseAgreementsMember2023-01-012023-03-310001102112pacw:InterestRateContractsMemberus-gaap:AssetsMember2023-03-310001102112pacw:InterestRateContractsMemberus-gaap:AssetsMember2022-12-310001102112us-gaap:AssetsMemberpacw:ForeignExchangeContractsMember2023-03-310001102112us-gaap:AssetsMemberpacw:ForeignExchangeContractsMember2022-12-310001102112pacw:OtherDerivateAssetsMemberus-gaap:AssetsMember2023-03-310001102112pacw:OtherDerivateAssetsMemberus-gaap:AssetsMember2022-12-310001102112us-gaap:AssetsMemberus-gaap:EquityMember2023-03-310001102112us-gaap:AssetsMemberus-gaap:EquityMember2022-12-310001102112us-gaap:AssetsMember2023-03-310001102112us-gaap:AssetsMember2022-12-310001102112us-gaap:LiabilityMemberpacw:InterestRateContractsMember2023-03-310001102112us-gaap:LiabilityMemberpacw:InterestRateContractsMember2022-12-310001102112us-gaap:LiabilityMemberpacw:ForeignExchangeContractsMember2023-03-310001102112us-gaap:LiabilityMemberpacw:ForeignExchangeContractsMember2022-12-310001102112pacw:OtherDerivateAssetsMemberus-gaap:LiabilityMember2023-03-310001102112pacw:OtherDerivateAssetsMemberus-gaap:LiabilityMember2022-12-310001102112pacw:LessThanOneYearMember2023-03-310001102112pacw:MoreThanTwelve12MonthsbutLessThanTwentyfour24MonthsMember2023-03-310001102112us-gaap:FairValueMeasurementsRecurringMemberus-gaap:MortgageBackedSecuritiesIssuedByUSGovernmentSponsoredEnterprisesMember2023-03-310001102112us-gaap:FairValueMeasurementsRecurringMemberus-gaap:FairValueInputsLevel1Memberus-gaap:MortgageBackedSecuritiesIssuedByUSGovernmentSponsoredEnterprisesMember2023-03-310001102112us-gaap:FairValueMeasurementsRecurringMemberus-gaap:FairValueInputsLevel2Memberus-gaap:MortgageBackedSecuritiesIssuedByUSGovernmentSponsoredEnterprisesMember2023-03-310001102112us-gaap:FairValueMeasurementsRecurringMemberus-gaap:FairValueInputsLevel3Memberus-gaap:MortgageBackedSecuritiesIssuedByUSGovernmentSponsoredEnterprisesMember2023-03-310001102112us-gaap:USTreasurySecuritiesMemberus-gaap:FairValueMeasurementsRecurringMember2023-03-310001102112us-gaap:USTreasurySecuritiesMemberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:FairValueInputsLevel1Member2023-03-310001102112us-gaap:USTreasurySecuritiesMemberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:FairValueInputsLevel2Member2023-03-310001102112us-gaap:USTreasurySecuritiesMemberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:FairValueInputsLevel3Member2023-03-310001102112us-gaap:FairValueMeasurementsRecurringMemberus-gaap:CommercialMortgageBackedSecuritiesMember2023-03-310001102112us-gaap:FairValueMeasurementsRecurringMemberus-gaap:FairValueInputsLevel1Memberus-gaap:CommercialMortgageBackedSecuritiesMember2023-03-310001102112us-gaap:FairValueMeasurementsRecurringMemberus-gaap:FairValueInputsLevel2Memberus-gaap:CommercialMortgageBackedSecuritiesMember2023-03-310001102112us-gaap:FairValueMeasurementsRecurringMemberus-gaap:FairValueInputsLevel3Memberus-gaap:CommercialMortgageBackedSecuritiesMember2023-03-310001102112us-gaap:FairValueMeasurementsRecurringMemberpacw:GovernmentagencyandgovernmentsponsoredenterprisecollateralizedmortgageobligationsMember2023-03-310001102112us-gaap:FairValueMeasurementsRecurringMemberpacw:GovernmentagencyandgovernmentsponsoredenterprisecollateralizedmortgageobligationsMemberus-gaap:FairValueInputsLevel1Member2023-03-310001102112us-gaap:FairValueMeasurementsRecurringMemberus-gaap:FairValueInputsLevel2Memberpacw:GovernmentagencyandgovernmentsponsoredenterprisecollateralizedmortgageobligationsMember2023-03-310001102112us-gaap:FairValueMeasurementsRecurringMemberpacw:GovernmentagencyandgovernmentsponsoredenterprisecollateralizedmortgageobligationsMemberus-gaap:FairValueInputsLevel3Member2023-03-310001102112us-gaap:FairValueMeasurementsRecurringMemberus-gaap:USStatesAndPoliticalSubdivisionsMember2023-03-310001102112us-gaap:FairValueMeasurementsRecurringMemberus-gaap:USStatesAndPoliticalSubdivisionsMemberus-gaap:FairValueInputsLevel1Member2023-03-310001102112us-gaap:FairValueMeasurementsRecurringMemberus-gaap:USStatesAndPoliticalSubdivisionsMemberus-gaap:FairValueInputsLevel2Member2023-03-310001102112us-gaap:FairValueMeasurementsRecurringMemberus-gaap:USStatesAndPoliticalSubdivisionsMemberus-gaap:FairValueInputsLevel3Member2023-03-310001102112us-gaap:CorporateDebtSecuritiesMemberus-gaap:FairValueMeasurementsRecurringMember2023-03-310001102112us-gaap:CorporateDebtSecuritiesMemberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:FairValueInputsLevel1Member2023-03-310001102112us-gaap:CorporateDebtSecuritiesMemberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:FairValueInputsLevel2Member2023-03-310001102112us-gaap:CorporateDebtSecuritiesMemberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:FairValueInputsLevel3Member2023-03-310001102112us-gaap:FairValueMeasurementsRecurringMemberpacw:PrivateLabelCollateralizedMortgageObligationsMember2023-03-310001102112us-gaap:FairValueMeasurementsRecurringMemberpacw:PrivateLabelCollateralizedMortgageObligationsMemberus-gaap:FairValueInputsLevel1Member2023-03-310001102112us-gaap:FairValueMeasurementsRecurringMemberus-gaap:FairValueInputsLevel2Memberpacw:PrivateLabelCollateralizedMortgageObligationsMember2023-03-310001102112us-gaap:FairValueMeasurementsRecurringMemberpacw:PrivateLabelCollateralizedMortgageObligationsMemberus-gaap:FairValueInputsLevel3Member2023-03-310001102112us-gaap:CollateralizedLoanObligationsMemberus-gaap:FairValueMeasurementsRecurringMember2023-03-310001102112us-gaap:CollateralizedLoanObligationsMemberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:FairValueInputsLevel1Member2023-03-310001102112us-gaap:CollateralizedLoanObligationsMemberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:FairValueInputsLevel2Member2023-03-310001102112us-gaap:CollateralizedLoanObligationsMemberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:FairValueInputsLevel3Member2023-03-310001102112us-gaap:MortgageBackedSecuritiesIssuedByPrivateEnterprisesMemberus-gaap:FairValueMeasurementsRecurringMember2023-03-310001102112us-gaap:MortgageBackedSecuritiesIssuedByPrivateEnterprisesMemberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:FairValueInputsLevel1Member2023-03-310001102112us-gaap:MortgageBackedSecuritiesIssuedByPrivateEnterprisesMemberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:FairValueInputsLevel2Member2023-03-310001102112us-gaap:MortgageBackedSecuritiesIssuedByPrivateEnterprisesMemberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:FairValueInputsLevel3Member2023-03-310001102112us-gaap:FairValueMeasurementsRecurringMemberus-gaap:AssetBackedSecuritiesMember2023-03-310001102112us-gaap:FairValueMeasurementsRecurringMemberus-gaap:AssetBackedSecuritiesMemberus-gaap:FairValueInputsLevel1Member2023-03-310001102112us-gaap:FairValueMeasurementsRecurringMemberus-gaap:FairValueInputsLevel2Memberus-gaap:AssetBackedSecuritiesMember2023-03-310001102112us-gaap:FairValueMeasurementsRecurringMemberus-gaap:AssetBackedSecuritiesMemberus-gaap:FairValueInputsLevel3Member2023-03-310001102112us-gaap:FairValueMeasurementsRecurringMemberpacw:SBAassetbackedsecuritiesMember2023-03-310001102112us-gaap:FairValueMeasurementsRecurringMemberus-gaap:FairValueInputsLevel1Memberpacw:SBAassetbackedsecuritiesMember2023-03-310001102112us-gaap:FairValueMeasurementsRecurringMemberus-gaap:FairValueInputsLevel2Memberpacw:SBAassetbackedsecuritiesMember2023-03-310001102112us-gaap:FairValueMeasurementsRecurringMemberpacw:SBAassetbackedsecuritiesMemberus-gaap:FairValueInputsLevel3Member2023-03-310001102112us-gaap:FairValueMeasurementsRecurringMember2023-03-310001102112us-gaap:FairValueMeasurementsRecurringMemberus-gaap:FairValueInputsLevel1Member2023-03-310001102112us-gaap:FairValueMeasurementsRecurringMemberus-gaap:FairValueInputsLevel2Member2023-03-310001102112us-gaap:FairValueMeasurementsRecurringMemberus-gaap:FairValueInputsLevel3Member2023-03-310001102112us-gaap:FairValueMeasurementsRecurringMemberus-gaap:MortgageBackedSecuritiesIssuedByUSGovernmentSponsoredEnterprisesMember2022-12-310001102112us-gaap:FairValueMeasurementsRecurringMemberus-gaap:FairValueInputsLevel1Memberus-gaap:MortgageBackedSecuritiesIssuedByUSGovernmentSponsoredEnterprisesMember2022-12-310001102112us-gaap:FairValueMeasurementsRecurringMemberus-gaap:FairValueInputsLevel2Memberus-gaap:MortgageBackedSecuritiesIssuedByUSGovernmentSponsoredEnterprisesMember2022-12-310001102112us-gaap:FairValueMeasurementsRecurringMemberus-gaap:FairValueInputsLevel3Memberus-gaap:MortgageBackedSecuritiesIssuedByUSGovernmentSponsoredEnterprisesMember2022-12-310001102112us-gaap:USTreasurySecuritiesMemberus-gaap:FairValueMeasurementsRecurringMember2022-12-310001102112us-gaap:USTreasurySecuritiesMemberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:FairValueInputsLevel1Member2022-12-310001102112us-gaap:USTreasurySecuritiesMemberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:FairValueInputsLevel2Member2022-12-310001102112us-gaap:USTreasurySecuritiesMemberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:FairValueInputsLevel3Member2022-12-310001102112us-gaap:FairValueMeasurementsRecurringMemberus-gaap:CommercialMortgageBackedSecuritiesMember2022-12-310001102112us-gaap:FairValueMeasurementsRecurringMemberus-gaap:FairValueInputsLevel1Memberus-gaap:CommercialMortgageBackedSecuritiesMember2022-12-310001102112us-gaap:FairValueMeasurementsRecurringMemberus-gaap:FairValueInputsLevel2Memberus-gaap:CommercialMortgageBackedSecuritiesMember2022-12-310001102112us-gaap:FairValueMeasurementsRecurringMemberus-gaap:FairValueInputsLevel3Memberus-gaap:CommercialMortgageBackedSecuritiesMember2022-12-310001102112us-gaap:FairValueMeasurementsRecurringMemberpacw:GovernmentagencyandgovernmentsponsoredenterprisecollateralizedmortgageobligationsMember2022-12-310001102112us-gaap:FairValueMeasurementsRecurringMemberpacw:GovernmentagencyandgovernmentsponsoredenterprisecollateralizedmortgageobligationsMemberus-gaap:FairValueInputsLevel1Member2022-12-310001102112us-gaap:FairValueMeasurementsRecurringMemberus-gaap:FairValueInputsLevel2Memberpacw:GovernmentagencyandgovernmentsponsoredenterprisecollateralizedmortgageobligationsMember2022-12-310001102112us-gaap:FairValueMeasurementsRecurringMemberpacw:GovernmentagencyandgovernmentsponsoredenterprisecollateralizedmortgageobligationsMemberus-gaap:FairValueInputsLevel3Member2022-12-310001102112us-gaap:FairValueMeasurementsRecurringMemberus-gaap:USStatesAndPoliticalSubdivisionsMember2022-12-310001102112us-gaap:FairValueMeasurementsRecurringMemberus-gaap:USStatesAndPoliticalSubdivisionsMemberus-gaap:FairValueInputsLevel1Member2022-12-310001102112us-gaap:FairValueMeasurementsRecurringMemberus-gaap:USStatesAndPoliticalSubdivisionsMemberus-gaap:FairValueInputsLevel2Member2022-12-310001102112us-gaap:FairValueMeasurementsRecurringMemberus-gaap:USStatesAndPoliticalSubdivisionsMemberus-gaap:FairValueInputsLevel3Member2022-12-310001102112us-gaap:CorporateDebtSecuritiesMemberus-gaap:FairValueMeasurementsRecurringMember2022-12-310001102112us-gaap:CorporateDebtSecuritiesMemberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:FairValueInputsLevel1Member2022-12-310001102112us-gaap:CorporateDebtSecuritiesMemberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:FairValueInputsLevel2Member2022-12-310001102112us-gaap:CorporateDebtSecuritiesMemberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:FairValueInputsLevel3Member2022-12-310001102112us-gaap:FairValueMeasurementsRecurringMemberpacw:PrivateLabelCollateralizedMortgageObligationsMember2022-12-310001102112us-gaap:FairValueMeasurementsRecurringMemberpacw:PrivateLabelCollateralizedMortgageObligationsMemberus-gaap:FairValueInputsLevel1Member2022-12-310001102112us-gaap:FairValueMeasurementsRecurringMemberus-gaap:FairValueInputsLevel2Memberpacw:PrivateLabelCollateralizedMortgageObligationsMember2022-12-310001102112us-gaap:FairValueMeasurementsRecurringMemberpacw:PrivateLabelCollateralizedMortgageObligationsMemberus-gaap:FairValueInputsLevel3Member2022-12-310001102112us-gaap:CollateralizedLoanObligationsMemberus-gaap:FairValueMeasurementsRecurringMember2022-12-310001102112us-gaap:CollateralizedLoanObligationsMemberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:FairValueInputsLevel1Member2022-12-310001102112us-gaap:CollateralizedLoanObligationsMemberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:FairValueInputsLevel2Member2022-12-310001102112us-gaap:CollateralizedLoanObligationsMemberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:FairValueInputsLevel3Member2022-12-310001102112us-gaap:MortgageBackedSecuritiesIssuedByPrivateEnterprisesMemberus-gaap:FairValueMeasurementsRecurringMember2022-12-310001102112us-gaap:MortgageBackedSecuritiesIssuedByPrivateEnterprisesMemberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:FairValueInputsLevel1Member2022-12-310001102112us-gaap:MortgageBackedSecuritiesIssuedByPrivateEnterprisesMemberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:FairValueInputsLevel2Member2022-12-310001102112us-gaap:MortgageBackedSecuritiesIssuedByPrivateEnterprisesMemberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:FairValueInputsLevel3Member2022-12-310001102112us-gaap:FairValueMeasurementsRecurringMemberus-gaap:AssetBackedSecuritiesMember2022-12-310001102112us-gaap:FairValueMeasurementsRecurringMemberus-gaap:AssetBackedSecuritiesMemberus-gaap:FairValueInputsLevel1Member2022-12-310001102112us-gaap:FairValueMeasurementsRecurringMemberus-gaap:FairValueInputsLevel2Memberus-gaap:AssetBackedSecuritiesMember2022-12-310001102112us-gaap:FairValueMeasurementsRecurringMemberus-gaap:AssetBackedSecuritiesMemberus-gaap:FairValueInputsLevel3Member2022-12-310001102112us-gaap:FairValueMeasurementsRecurringMemberpacw:SBAassetbackedsecuritiesMember2022-12-310001102112us-gaap:FairValueMeasurementsRecurringMemberus-gaap:FairValueInputsLevel1Memberpacw:SBAassetbackedsecuritiesMember2022-12-310001102112us-gaap:FairValueMeasurementsRecurringMemberus-gaap:FairValueInputsLevel2Memberpacw:SBAassetbackedsecuritiesMember2022-12-310001102112us-gaap:FairValueMeasurementsRecurringMemberpacw:SBAassetbackedsecuritiesMemberus-gaap:FairValueInputsLevel3Member2022-12-310001102112us-gaap:FairValueMeasurementsRecurringMemberus-gaap:FairValueInputsLevel1Member2022-12-310001102112us-gaap:FairValueMeasurementsRecurringMemberus-gaap:FairValueInputsLevel2Member2022-12-310001102112us-gaap:FairValueMeasurementsRecurringMemberus-gaap:FairValueInputsLevel3Member2022-12-310001102112us-gaap:FairValueMeasurementsRecurringMember2022-12-310001102112us-gaap:WarrantMember2023-01-012023-03-310001102112us-gaap:FairValueMeasurementsRecurringMemberpacw:SpreadTo10YearTreasuryMembersrt:MinimumMemberus-gaap:FairValueInputsLevel3Memberus-gaap:CorporateDebtSecuritiesMember2023-01-012023-03-310001102112us-gaap:FairValueMeasurementsRecurringMembersrt:MaximumMemberpacw:SpreadTo10YearTreasuryMemberus-gaap:FairValueInputsLevel3Memberus-gaap:CorporateDebtSecuritiesMember2023-01-012023-03-310001102112us-gaap:FairValueMeasurementsRecurringMemberpacw:SpreadTo10YearTreasuryMembersrt:WeightedAverageMemberus-gaap:FairValueInputsLevel3Memberus-gaap:CorporateDebtSecuritiesMember2023-01-012023-03-310001102112us-gaap:FairValueMeasurementsRecurringMemberus-gaap:MeasurementInputDiscountRateMembersrt:MinimumMemberus-gaap:FairValueInputsLevel3Memberus-gaap:CorporateDebtSecuritiesMember2023-01-012023-03-310001102112us-gaap:FairValueMeasurementsRecurringMemberus-gaap:MeasurementInputDiscountRateMembersrt:MaximumMemberus-gaap:FairValueInputsLevel3Memberus-gaap:CorporateDebtSecuritiesMember2023-01-012023-03-310001102112us-gaap:FairValueMeasurementsRecurringMembersrt:WeightedAverageMemberus-gaap:FairValueInputsLevel3Memberus-gaap:CorporateDebtSecuritiesMemberpacw:DiscountRatesMember2023-01-012023-03-310001102112us-gaap:WarrantMemberus-gaap:FairValueMeasurementsRecurringMembersrt:MinimumMemberus-gaap:FairValueInputsLevel3Memberus-gaap:MeasurementInputPriceVolatilityMember2023-01-012023-03-310001102112us-gaap:WarrantMemberus-gaap:FairValueMeasurementsRecurringMembersrt:MaximumMemberus-gaap:FairValueInputsLevel3Memberus-gaap:MeasurementInputPriceVolatilityMember2023-01-012023-03-310001102112us-gaap:WarrantMemberus-gaap:FairValueMeasurementsRecurringMembersrt:WeightedAverageMemberus-gaap:FairValueInputsLevel3Memberus-gaap:MeasurementInputPriceVolatilityMember2023-01-012023-03-310001102112us-gaap:WarrantMemberus-gaap:FairValueMeasurementsRecurringMembersrt:MinimumMemberus-gaap:FairValueInputsLevel3Memberus-gaap:MeasurementInputRiskFreeInterestRateMember2023-01-012023-03-310001102112us-gaap:WarrantMemberus-gaap:FairValueMeasurementsRecurringMembersrt:MaximumMemberus-gaap:FairValueInputsLevel3Memberus-gaap:MeasurementInputRiskFreeInterestRateMember2023-01-012023-03-310001102112us-gaap:WarrantMemberus-gaap:FairValueMeasurementsRecurringMembersrt:WeightedAverageMemberus-gaap:FairValueInputsLevel3Memberus-gaap:MeasurementInputRiskFreeInterestRateMember2023-01-012023-03-310001102112us-gaap:WarrantMemberus-gaap:FairValueMeasurementsRecurringMembersrt:MinimumMemberus-gaap:FairValueInputsLevel3Member2023-01-012023-03-310001102112us-gaap:WarrantMemberus-gaap:FairValueMeasurementsRecurringMembersrt:MaximumMemberus-gaap:FairValueInputsLevel3Member2023-01-012023-03-310001102112us-gaap:WarrantMemberus-gaap:FairValueMeasurementsRecurringMembersrt:WeightedAverageMemberus-gaap:FairValueInputsLevel3Member2023-01-012023-03-310001102112us-gaap:FairValueMeasurementsRecurringMemberus-gaap:CorporateDebtSecuritiesMemberus-gaap:FairValueInputsLevel3Member2022-12-310001102112us-gaap:FairValueInputsLevel3Member2022-12-310001102112us-gaap:CorporateDebtSecuritiesMemberus-gaap:FairValueInputsLevel3Member2023-01-012023-03-310001102112us-gaap:FairValueInputsLevel3Member2023-01-012023-03-310001102112us-gaap:FairValueInputsLevel3Memberpacw:CreditLinkNotesMember2023-01-012023-03-310001102112us-gaap:FairValueMeasurementsRecurringMemberus-gaap:CorporateDebtSecuritiesMemberus-gaap:FairValueInputsLevel3Member2023-01-012023-03-310001102112us-gaap:FairValueMeasurementsRecurringMemberus-gaap:CorporateDebtSecuritiesMemberus-gaap:FairValueInputsLevel3Member2023-03-310001102112pacw:OthersecuritiesMemberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:FairValueInputsLevel3Member2023-01-012023-03-310001102112us-gaap:FairValueMeasurementsNonrecurringMemberpacw:NonPurchasedCreditImpairedLoansAndLeasesMember2023-03-310001102112us-gaap:FairValueMeasurementsNonrecurringMemberus-gaap:FairValueInputsLevel1Memberpacw:NonPurchasedCreditImpairedLoansAndLeasesMember2023-03-310001102112us-gaap:FairValueMeasurementsNonrecurringMemberus-gaap:FairValueInputsLevel2Memberpacw:NonPurchasedCreditImpairedLoansAndLeasesMember2023-03-310001102112us-gaap:FairValueMeasurementsNonrecurringMemberus-gaap:FairValueInputsLevel3Memberpacw:NonPurchasedCreditImpairedLoansAndLeasesMember2023-03-310001102112us-gaap:FairValueMeasurementsNonrecurringMember2023-03-310001102112us-gaap:FairValueMeasurementsNonrecurringMemberus-gaap:FairValueInputsLevel1Member2023-03-310001102112us-gaap:FairValueMeasurementsNonrecurringMemberus-gaap:FairValueInputsLevel2Member2023-03-310001102112us-gaap:FairValueMeasurementsNonrecurringMemberus-gaap:FairValueInputsLevel3Member2023-03-310001102112us-gaap:FairValueMeasurementsNonrecurringMemberpacw:NonPurchasedCreditImpairedLoansAndLeasesMember2022-12-310001102112us-gaap:FairValueMeasurementsNonrecurringMemberus-gaap:FairValueInputsLevel1Memberpacw:NonPurchasedCreditImpairedLoansAndLeasesMember2022-12-310001102112us-gaap:FairValueMeasurementsNonrecurringMemberus-gaap:FairValueInputsLevel2Memberpacw:NonPurchasedCreditImpairedLoansAndLeasesMember2022-12-310001102112us-gaap:FairValueMeasurementsNonrecurringMemberus-gaap:FairValueInputsLevel3Memberpacw:NonPurchasedCreditImpairedLoansAndLeasesMember2022-12-310001102112us-gaap:FairValueMeasurementsNonrecurringMemberpacw:OtherrealestateandforeclosedassetsMember2022-12-310001102112us-gaap:FairValueMeasurementsNonrecurringMemberpacw:OtherrealestateandforeclosedassetsMemberus-gaap:FairValueInputsLevel1Member2022-12-310001102112us-gaap:FairValueMeasurementsNonrecurringMemberpacw:OtherrealestateandforeclosedassetsMemberus-gaap:FairValueInputsLevel2Member2022-12-310001102112us-gaap:FairValueMeasurementsNonrecurringMemberpacw:OtherrealestateandforeclosedassetsMemberus-gaap:FairValueInputsLevel3Member2022-12-310001102112us-gaap:FairValueMeasurementsNonrecurringMember2022-12-310001102112us-gaap:FairValueMeasurementsNonrecurringMemberus-gaap:FairValueInputsLevel1Member2022-12-310001102112us-gaap:FairValueMeasurementsNonrecurringMemberus-gaap:FairValueInputsLevel2Member2022-12-310001102112us-gaap:FairValueMeasurementsNonrecurringMemberus-gaap:FairValueInputsLevel3Member2022-12-310001102112us-gaap:FairValueMeasurementsNonrecurringMemberpacw:NonPurchasedCreditImpairedLoansAndLeasesMember2023-01-012023-03-310001102112us-gaap:FairValueMeasurementsNonrecurringMemberpacw:NonPurchasedCreditImpairedLoansAndLeasesMember2022-01-012022-03-310001102112us-gaap:FairValueMeasurementsNonrecurringMember2023-01-012023-03-310001102112us-gaap:FairValueMeasurementsNonrecurringMember2022-01-012022-03-310001102112us-gaap:FairValueMeasurementsNonrecurringMemberpacw:ThirdPartyAppraisalsMemberus-gaap:FairValueInputsLevel3Memberpacw:NoDiscountsMember2023-03-310001102112us-gaap:FairValueInputsLevel1Member2023-03-310001102112us-gaap:FairValueInputsLevel2Member2023-03-310001102112us-gaap:FairValueInputsLevel3Member2023-03-310001102112us-gaap:FairValueInputsLevel1Memberpacw:NonPCIandPCILoansMember2023-03-310001102112us-gaap:FairValueInputsLevel2Memberpacw:NonPCIandPCILoansMember2023-03-310001102112us-gaap:FairValueInputsLevel1Member2022-12-310001102112us-gaap:FairValueInputsLevel2Member2022-12-310001102112us-gaap:FairValueInputsLevel1Memberpacw:NonPCIandPCILoansMember2022-12-310001102112us-gaap:FairValueInputsLevel2Memberpacw:NonPCIandPCILoansMember2022-12-310001102112pacw:InterestMember2023-01-012023-03-310001102112pacw:InterestMember2022-01-012022-03-310001102112pacw:ServiceChargesOnDepositAccountsMember2023-01-012023-03-310001102112pacw:ServiceChargesOnDepositAccountsMember2022-01-012022-03-310001102112pacw:OtherCommissionsAndFeesMember2023-01-012023-03-310001102112pacw:OtherCommissionsAndFeesMember2022-01-012022-03-310001102112pacw:LeaseEquipmentIncomeMember2023-01-012023-03-310001102112pacw:LeaseEquipmentIncomeMember2022-01-012022-03-310001102112pacw:GainOnSaleOfLoansMember2023-01-012023-03-310001102112pacw:GainOnSaleOfLoansMember2022-01-012022-03-310001102112pacw:GainOnSaleOfSecuritiesMember2023-01-012023-03-310001102112pacw:GainOnSaleOfSecuritiesMember2022-01-012022-03-310001102112pacw:DividendsAndGainsLossesOnEquityInvestmentsMember2023-01-012023-03-310001102112pacw:DividendsAndGainsLossesOnEquityInvestmentsMember2022-01-012022-03-310001102112pacw:WarrantyIncomeMember2023-01-012023-03-310001102112pacw:WarrantyIncomeMember2022-01-012022-03-310001102112pacw:OtherMember2023-01-012023-03-310001102112pacw:OtherMember2022-01-012022-03-310001102112pacw:NoninterestIncomeMember2023-01-012023-03-310001102112pacw:NoninterestIncomeMember2022-01-012022-03-3100011021122022-01-012022-09-300001102112pacw:PacWest2017RevisedStockIncentivePlanMember2023-03-310001102112pacw:PacWest2017StockIncentivePlanMember2023-03-310001102112pacw:PacWest2017StockIncentivePlanMemberpacw:TimeBasedRestrictedStockAwardsMember2023-03-310001102112srt:MaximumMember2023-01-012023-03-310001102112us-gaap:PerformanceSharesMember2023-03-310001102112us-gaap:PerformanceSharesMember2023-01-012023-03-310001102112srt:MinimumMemberus-gaap:PerformanceSharesMember2023-01-012023-03-310001102112pacw:PerformanceSharesOneMembersrt:MaximumMember2023-01-012023-03-310001102112srt:MaximumMemberpacw:PerformanceSharesTwoMember2023-01-012023-03-3100011021122022-06-060001102112us-gaap:PreferredClassAMember2022-06-060001102112us-gaap:DividendDeclaredMemberus-gaap:SubsequentEventMember2023-05-032023-05-030001102112us-gaap:SubsequentEventMember2023-05-052023-05-050001102112us-gaap:SubsequentEventMember2023-05-100001102112us-gaap:SubsequentEventMember2023-05-102023-05-10

 
UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549  
Form 10-Q
QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

or
TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

For the quarterly period ended March 31, 2023
Commission File No. 001-36408
PACWEST BANCORP
(Exact name of registrant as specified in its charter)
Delaware33-0885320
(State of Incorporation)(I.R.S. Employer Identification No.)
9701 Wilshire Blvd., Suite 700
Beverly Hills, CA 90212
(Address of Principal Executive Offices, Including Zip Code)
(310) 887-8500
(Registrant's Telephone Number, Including Area Code)

Securities registered pursuant to Section 12(b) of the Act:
Common Stock, par value $0.01 per sharePACWThe Nasdaq Stock Market LLC
Depositary Shares, each representing a 1/40th interest
in a share of 7.75% fixed rate reset non-cumulative
perpetual preferred stock, Series A PACWPThe Nasdaq Stock Market LLC
(Title of Each Class)(Trading Symbol)(Name of Exchange on Which Registered)
    Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days. Yes   No   
    Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405 of Regulation S-T (§232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit such files). Yes        No  
    Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting company, or an emerging growth company. See the definitions of “large accelerated filer,” “accelerated filer,” “smaller reporting company,” and "emerging growth company" in Rule 12b-2 of the Exchange Act.
Large accelerated filerAccelerated filerNon-accelerated filer
Smaller reporting companyEmerging growth company
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.
    Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act).     Yes No 
Indicate by check mark whether the financial statements included in the filings reflects a correction of an error previously issued financial statements):(1) o Yes    o  No
1


Indicate by check mark whether any of those error corrections are restatements requiring a recovery analysis of incentive-based compensation under the registrant’s clawback policies:(1) o Yes    o  No
(1) Checkboxes are blank until we are required to have a recovery policy under the applicable Nasdaq listing standard.
As of April 27, 2023, there were 118,036,596 shares of the registrant's common stock outstanding, excluding 2,204,651 shares of unvested restricted stock.
2


PACWEST BANCORP
MARCH 31, 2023 QUARTERLY REPORT ON FORM 10-Q
TABLE OF CONTENTS
 
Page
PART I. FINANCIAL INFORMATION
Item 1.Condensed Consolidated Financial Statements (Unaudited) 
 Condensed Consolidated Balance Sheets (Unaudited)
Condensed Consolidated Statements of Earnings (Loss) (Unaudited)
 Condensed Consolidated Statements of Comprehensive Income (Loss) (Unaudited)
Condensed Consolidated Statements of Changes in Stockholders' Equity (Unaudited)
Condensed Consolidated Statements of Cash Flows (Unaudited)
 Notes to Condensed Consolidated Financial Statements (Unaudited)
Item 2.Management's Discussion and Analysis of Financial Condition and Results of Operations
Item 3.Quantitative and Qualitative Disclosures About Market Risk
Item 4.Controls and Procedures
PART II. OTHER INFORMATION
Item 1.Legal Proceedings
Item 1A.Risk Factors
Item 2.Unregistered Sales of Equity Securities and Use of Proceeds
Item 6.Index to Exhibits
Signatures

3


PART I
Glossary of Acronyms, Abbreviations, and Terms
The acronyms, abbreviations, and terms listed below are used in various sections of this Form 10-Q, including "Item 1. Financial Statements" and "Item 2. Management's Discussion and Analysis of Financial Condition and Results of Operations."
ACL Allowance for Credit LossesFRBSFFederal Reserve Bank of San Francisco
AFSAvailable-for-SaleGDPGross Domestic Product
AFXAmerican Financial ExchangeHOA BusinessHomeowners Association Services Division of MUFG Union Bank, N.A. (a business acquired on October 8, 2021)
ALLLAllowance for Loan and Lease LossesHTMHeld-to-Maturity
ALMAsset Liability ManagementIPOInitial Public Offering
ASCAccounting Standards CodificationIRRInterest Rate Risk
ASUAccounting Standards UpdateLIBORLondon Inter-bank Offered Rate
Basel IIIA comprehensive capital framework and rules for U.S. banking organizations approved by the FRB and the FDIC in 2013LIHTCLow Income Housing Tax Credit
BHCABank Holding Company Act of 1956, as amendedMBSMortgage-Backed Securities
BOLIBank Owned Life InsuranceMVEMarket Value of Equity
CARES ActCoronavirus Aid, Relief, and Economic Security ActNAVNet Asset Value
CDICore Deposit Intangible AssetsNIINet Interest Income
CECLCurrent Expected Credit LossNIMNet Interest Margin
CET1Common Equity Tier 1NSFNon-Sufficient Funds
Civic Civic Financial Services, LLC (a company acquired on February 1, 2021)OREOOther Real Estate Owned
CMBS Commercial Mortgage-Backed SecuritiesPPPPaycheck Protection Program
CMOsCollateralized Mortgage ObligationsPRSUsPerformance-Based Restricted Stock Units
Retail Non-Maturity DepositsIncludes noninterest-bearing checking accounts, non-brokered interest checking accounts, non-brokered money market accounts, and savings accountsPWAMPacific Western Asset Management Inc.
COVID-19Coronavirus DiseaseROURight-of-use
CPIConsumer Price IndexS&PStandard & Poor's
CRACommunity Reinvestment ActSBASmall Business Administration
CRECommercial Real EstateSBICSmall Business Investment Company
CRICustomer Relationship Intangible AssetsSECSecurities and Exchange Commission
DFPICalifornia Department of Financial Protection and InnovationSOFRSecured Overnight Financing Rate
DTAsDeferred Tax AssetsTax Equivalent Net Interest IncomeNet interest income reflecting adjustments related to tax-exempt interest on certain loans and investment securities
Dodd-Frank ActDodd-Frank Wall Street Reform and Consumer Protection ActTax Equivalent NIMNIM reflecting adjustments related to tax-exempt interest on certain loans and investment securities
Efficiency RatioNoninterest expense (less intangible asset amortization, net foreclosed assets expense (income), goodwill impairment, and acquisition, integration and reorganization costs) divided by net revenues (the sum of tax equivalent net interest income plus noninterest income, less gain/loss on sale of securities and gain/loss on sales of assets other than loans and leases)TDRsTroubled Debt Restructurings
FASBFinancial Accounting Standards BoardTRSAsTime-Based Restricted Stock Awards
FDICFederal Deposit Insurance CorporationU.S. GAAPU.S. Generally Accepted Accounting Principles
FHLBFederal Home Loan Bank of San FranciscoVIEVariable Interest Entity
FRBBoard of Governors of the Federal Reserve System

4


ITEM 1. CONDENSED CONSOLIDATED FINANCIAL STATEMENTS (UNAUDITED)

PACWEST BANCORP AND SUBSIDIARIES
CONDENSED CONSOLIDATED BALANCE SHEETS
March 31,December 31,
 20232022
(Unaudited)
 (Dollars in thousands, except par value amounts)
ASSETS:
Cash and due from banks$218,830 $212,273 
Interest-earning deposits in financial institutions6,461,306 2,027,949 
Total cash, cash equivalents, and restricted cash6,680,136 2,240,222 
Securities available-for-sale, at fair value (amortized cost of $5,591,766 and $5,654,617, respectively)
4,848,607 4,843,487 
Securities held-to-maturity, at amortized cost, net of allowance for credit losses (fair value of
$2,157,056 and $2,110,472, respectively)
2,273,650 2,269,135 
Federal Home Loan Bank stock, at cost147,150 34,290 
Total investment securities7,269,407 7,146,912 
Loans held for sale2,796,208 65,076 
Gross loans and leases held for investment25,770,912 28,726,016 
Deferred fees, net(98,531)(116,887)
Allowance for loan and lease losses(210,055)(200,732)
Total loans and leases held for investment, net25,462,326 28,408,397 
Equipment leased to others under operating leases399,972 404,245 
Premises and equipment, net60,358 54,315 
Foreclosed assets, net2,135 5,022 
Goodwill— 1,376,736 
Core deposit and customer relationship intangibles, net28,970 31,381 
Other assets1,603,469 1,496,630 
Total assets$44,302,981 $41,228,936 
LIABILITIES:  
Noninterest-bearing deposits$7,030,759 $11,212,357 
Interest-bearing deposits21,156,802 22,723,977 
Total deposits28,187,561 33,936,334 
Borrowings (including $128,375 at fair value)
11,881,712 1,764,030 
Subordinated debt868,815 867,087 
Accrued interest payable and other liabilities593,416 710,954 
Total liabilities41,531,504 37,278,405 
Commitments and contingencies
STOCKHOLDERS' EQUITY:
Preferred stock ($0.01 par value; 5,000,000 shares authorized; 513,250 Series A shares,
$1,000 per share liquidation preference, issued and outstanding at March 31, 2023 and
December 31, 2022) 498,516 498,516 
Common stock ($0.01 par value, 200,000,000 shares authorized at March 31, 2023 and
December 31, 2022; 123,169,017 and 123,000,557 shares issued, respectively, includes
2,207,618 and 2,405,878 shares of unvested restricted stock, respectively)
1,232 1,230 
Additional paid-in capital2,903,428 2,927,903 
Retained earnings215,253 1,420,624 
Treasury stock, at cost (2,924,803 and 2,778,500 shares at March 31, 2023 and December 31, 2022)
(110,892)(106,839)
Accumulated other comprehensive (loss) income, net(736,060)(790,903)
Total stockholders' equity2,771,477 3,950,531 
Total liabilities and stockholders' equity$44,302,981 $41,228,936 
See Notes to Condensed Consolidated Financial Statements.
5


PACWEST BANCORP AND SUBSIDIARIES
CONDENSED CONSOLIDATED STATEMENTS OF EARNINGS (LOSS)
Three Months Ended
March 31,
 20232022
(Unaudited)
 (In thousands, except per share amounts)
Interest income:
Loans and leases$430,685 $267,759 
Investment securities44,237 53,422 
Deposits in financial institutions42,866 1,723 
Total interest income517,788 322,904 
Interest expense:
Deposits155,892 6,208 
Borrowings 69,122 161 
Subordinated debt13,502 7,818 
Total interest expense238,516 14,187 
Net interest income279,272 308,717 
Provision for credit losses3,000 — 
Net interest income after provision for credit losses276,272 308,717 
Noninterest income:
Leased equipment income13,857 13,094 
Other commissions and fees10,344 11,580 
Service charges on deposit accounts3,573 3,571 
Gain on sale of loans and leases2,962 60 
Gain on sale of securities— 104 
Dividends and gains (losses) on equity investments1,098 (11,375)
Warrant (loss) income(333)629 
Other income4,890 3,155 
Total noninterest income36,391 20,818 
Noninterest expense:
Compensation88,476 92,240 
Occupancy15,067 15,200 
Customer related expense24,005 12,655 
Other professional services6,073 5,954 
Data processing10,938 9,629 
Leased equipment depreciation9,375 9,189 
Insurance and assessments11,717 5,490 
Loan expense6,524 5,157 
Intangible asset amortization2,411 3,649 
Foreclosed assets expense (income), net363 (3,353)
Acquisition, integration and reorganization costs8,514 — 
Goodwill impairment1,376,736 — 
Other expense12,804 11,616 
Total noninterest expense1,573,003 167,426 
(Loss) earnings before income taxes(1,260,340)162,109 
Income tax (benefit) expense(64,916)41,981 
Net (loss) earnings (1,195,424)120,128 
Preferred stock dividends9,947 — 
Net (loss) earnings available to common stockholders$(1,205,371)$120,128 
(Loss) earnings per common share:
Basic$(10.22)$1.01 
Diluted$(10.22)$1.01 
See Notes to Condensed Consolidated Financial Statements.
6


PACWEST BANCORP AND SUBSIDIARIES
CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (LOSS)
Three Months Ended
March 31,
20232022
(Unaudited)
(In thousands)
Net (loss) earnings $(1,195,424)$120,128 
Other comprehensive income (loss), net of tax:
Unrealized net holding gains (losses) on securities available-for-sale arising during the period67,971 (609,826)
Income tax (expense) benefit related to unrealized net holding losses arising during the period(18,828)167,458 
Unrealized net holding gains (losses) on securities available-for-sale, net of tax49,143 (442,368)
Reclassification adjustment for net (gains) losses included in net earnings (1)
— (104)
Income tax expense (benefit) related to reclassification adjustment— 29 
Reclassification adjustment for net (gains) losses included in net earnings, net of tax— (75)
Amortization of unrealized net loss on securities transferred from available-for-sale to held-to-maturity7,884 — 
Income tax benefit related to amortization of unrealized net loss on securities transferred from
available-for-sale to held-to-maturity(2,184)— 
Amortization of unrealized net loss on securities transferred from available-for-sale to
held-to-maturity, net of tax5,700 — 
Other comprehensive income (loss), net of tax54,843 (442,443)
Comprehensive loss $(1,140,581)$(322,315)
___________________________________
(1)    Entire amounts are recognized in "Gain (loss) on sale of securities" on the Condensed Consolidated Statements of Earnings.
See Notes to Condensed Consolidated Financial Statements.

7


PACWEST BANCORP AND SUBSIDIARIES
CONDENSED CONSOLIDATED STATEMENTS OF CHANGES IN STOCKHOLDERS' EQUITY
Three Months Ended March 31, 2023
Common StockAccumulated
AdditionalOther
Preferred ParPaid-inRetainedTreasuryComprehensive
 
Stock (1)
SharesValueCapitalEarningsStock(Loss) Income Total
(Unaudited)
 (In thousands, except per share amount)
Balance, December 31, 2022$498,516 120,222,057 $1,230 $2,927,903 $1,420,624 $(106,839)$(790,903)$3,950,531 
Net loss— — — — (1,195,424)— — (1,195,424)
Other comprehensive income,
net of tax— — — — — — 54,843 54,843 
Restricted stock awarded and
earned stock compensation,
net of shares forfeited— 168,460 4,981 — — — 4,983 
Restricted stock surrendered— (146,303)— — — (4,053)— (4,053)
Cash dividends paid:
Preferred stock, $0.48/share
— — —  (9,947)— — (9,947)
Common stock, $0.25/share
— — — (29,456)— — — (29,456)
Balance, March 31, 2023$498,516 120,244,214 $1,232 $2,903,428 $215,253 $(110,892)$(736,060)$2,771,477 
___________________________________
(1)    There were 513,250 shares of Series A preferred stock issued during the 2nd quarter of 2022 that remained outstanding at March 31, 2023.

Three Months Ended March 31, 2022
Common StockAccumulated
AdditionalOther
PreferredParPaid-inRetainedTreasuryComprehensive
 Stock SharesValueCapitalEarningsStock(Loss) IncomeTotal
(Unaudited)
 (In thousands, except per share amount)
Balance, December 31, 2021$— 119,584,854 $1,221 $3,013,399 $1,016,350 $(97,308)$65,968 $3,999,630 
Net earnings— — — — 120,128 — — 120,128 
Other comprehensive loss,
net of tax— — — — — — (442,443)(442,443)
Restricted stock awarded and
earned stock compensation,
net of shares forfeited— 109,466 7,556 — — — 7,557 
Restricted stock surrendered— (92,554)— — — (4,481)— (4,481)
Cash dividends paid:
Common stock, $0.25/share
 — — (29,796)— — — (29,796)
Balance, March 31, 2022$— 119,601,766 $1,222 $2,991,159 $1,136,478 $(101,789)$(376,475)$3,650,595 


See Notes to Condensed Consolidated Financial Statements.
8


PACWEST BANCORP AND SUBSIDIARIES
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS
Three Months Ended
 March 31,
 20232022
(Unaudited)
 (In thousands)
Cash flows from operating activities:  
Net (loss) earnings $(1,195,424)$120,128 
Adjustments to reconcile net (loss) earnings to net cash provided by operating activities:
Goodwill impairment1,376,736 — 
Depreciation and amortization 13,939 13,577 
Amortization of net premiums on investment securities9,526 15,606 
Amortization of intangible assets2,411 3,649 
Amortization of operating lease ROU assets6,655 7,443 
Provision for credit losses 3,000 — 
Gain on sale of foreclosed assets(196)(3,177)
Provision for losses on foreclosed assets527 — 
Gain on sale of loans and leases(2,962)(60)
Gain on sale of premises and equipment (7)(2)
Gain on sale of securities— (104)
Gain on BOLI death benefit(350)— 
Unrealized gain on derivatives, foreign currencies, and credit-linked notes, net(1,781)(1,176)
Earned stock compensation 4,983 7,557 
(Increase) decrease in other assets(129,223)29,162 
Decrease in accrued interest payable and other liabilities(108,825)(58,397)
Net cash (used in) provided by operating activities(20,991)134,206 
Cash flows from investing activities:
Net increase in loans and leases(93,256)(1,448,692)
Proceeds from sales of loans and leases 290,228 36,758 
Proceeds from maturities and paydowns of securities available-for-sale56,956 243,921 
Proceeds from sales of securities available-for-sale— 206,192 
Purchases of securities available-for-sale(550)(356,196)
Proceeds from maturities and paydowns of securities held-to-maturity 288 — 
Net purchases of Federal Home Loan Bank stock(112,860)— 
Proceeds from sales of foreclosed assets5,124 16,020 
Purchases of premises and equipment, net(9,236)(7,287)
Proceeds from sales of premises and equipment13 
Proceeds from BOLI death benefit1,844 — 
Net (increase) decrease in equipment leased to others under operating leases(5,097)4,661 
Net cash provided by (used in) investing activities133,454 (1,304,620)
Cash flows from financing activities:
Net decrease in noninterest-bearing deposits(4,181,598)(486,082)
Net decrease in interest-bearing deposits(1,567,175)(1,286,780)
Net increase in borrowings10,119,680 991,000 
Restricted stock surrendered(4,053)(4,481)
Preferred stock dividends paid(9,947)— 
Common stock dividends paid(29,456)(29,796)
Net cash provided by (used in) financing activities4,327,451 (816,139)
Net increase (decrease) in cash, cash equivalents, and restricted cash4,439,914 (1,986,553)
Cash, cash equivalents, and restricted cash, beginning of period2,240,222 4,057,234 
Cash, cash equivalents, and restricted cash, end of period$6,680,136 $2,070,681 
See Notes to Condensed Consolidated Financial Statements.
9


PACWEST BANCORP AND SUBSIDIARIES
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS
Three Months Ended
 March 31,
 20232022
(Unaudited)
 (In thousands)
Supplemental disclosures of cash flow information:
Cash paid for interest$209,340 $10,635 
Cash paid for income taxes786 2,138 
Loans transferred to foreclosed assets2,568 304 
Transfers from loans held for investment to loans held for sale2,796,365 — 
See Notes to Condensed Consolidated Financial Statements.

10



PACWEST BANCORP AND SUBSIDIARIES
Notes to Condensed Consolidated Financial Statements (Unaudited)

NOTE 1.  ORGANIZATION    
PacWest Bancorp, a Delaware corporation, is a bank holding company registered under the BHCA and headquartered in Los Angeles, California, with an executive office in Denver, Colorado. Our principal business is to serve as the holding company for our wholly-owned subsidiary, Pacific Western Bank. References to "Pacific Western" or the "Bank" refer to Pacific Western Bank together with its wholly-owned subsidiaries. References to "we," "us," or the "Company" refer to PacWest Bancorp together with its subsidiaries on a consolidated basis. When we refer to "PacWest" or to the "holding company," we are referring to PacWest Bancorp, the parent company, on a stand-alone basis.
The Bank is a relationship-based community bank focused on providing business banking and treasury management services to small, middle-market, and venture-backed businesses. The Bank offers a broad range of loan and lease and deposit products and services through full-service branches throughout California and in Durham, North Carolina and Denver, Colorado, and loan production offices around the country.
We generate our revenue primarily from interest received on loans and leases and, to a lesser extent, from interest received on investment securities, and fees received in connection with deposit services, extending credit and other services offered, including treasury management and investment management services. Our major operating expenses are interest paid by the Bank on deposits and borrowings, compensation, occupancy, and general operating expenses.
Significant Accounting Policies
Our accounting policies are described in Note 1. Nature of Operations and Summary of Significant Accounting Policies, of our audited consolidated financial statements included in our Annual Report on Form 10-K for the year ended December 31, 2022 as filed with the Securities and Exchange Commission ("Form 10-K"). Updates to our significant accounting policies described below reflect the impact of the adoption of ASU 2022-02, "Financial Instruments - Credit Losses (Topic 326): Troubled Debt Restructurings and Vintage Disclosures ("ASU 2022-02")," specifically the amendment to troubled debt restructurings, and organizational changes which resulted in changes to our reportable operating segments.
Loan Modifications to Borrowers Experiencing Financial Difficulty
Loan modifications made to borrowers experiencing financial difficulty constitute modifications of receivables in the form of principal forgiveness, an interest rate reduction, an other than-insignificant payment delay, or a term extension. ASU 2022-02 eliminated the concept of troubled debt restructurings, and introduced broader modification reporting requirements. Previously, troubled debt restructurings included any type of modification that included a below market concession which was granted both to a borrower in financial difficulty and as a result of financial difficulty. Loan modifications made to borrowers experiencing financial difficulty no longer consider whether a market concession has been granted, as was required with troubled debt restructurings, but rather includes as modifications within the four listed reportable modification types to a borrower deemed to be experiencing financial difficulty. An assessment of whether a borrower is experiencing financial difficulty is made on the date of the modification. Loans reported in this classification have a rating of substandard or worse, and may include both accruing and nonaccruing loans. Loans are assessed to determine whether the modification constitutes a new loan or a continuation of the existing loan. Depending on the terms of the modification and nature of the borrower, this may result in a downgrade or placing a loan on nonaccrual status, which in turn would impact the loan's classification within the ALLL. Because the effect of most modifications made to borrowers experiencing financial difficulty is already included in the allowance for credit losses because of the measurement methodologies used to estimate the allowance, a change to the allowance for credit losses is generally not recorded upon modification.
Business Segments
We regularly assess our strategic plans, operations, reporting structures and financial information provided to management to identify our reportable segments. Civic, a lending subsidiary we acquired in February 2021, has historically been identified as an operating segment. In the fourth quarter of 2022, Civic met a quantitative threshold which required it to be disclosed as a reportable operating segment. Therefore, we had two reportable operating segments as of December 31, 2022: Commercial Banking and Civic, and a third segment, Other, which was used for inter-segment eliminations. In the first quarter of 2023, we began a restructuring of Civic which included removing most of Civic's top management and transferring day-to-day management of most of Civic's operating functions to managers at the Bank. Due to the restructuring of Civic, discrete financial information is no longer prepared. Our management reporting captures the direct expenses of Civic, however, none of the expenses now being incurred to manage Civic are being directly charged or allocated to Civic. Therefore, it is no longer feasible to produce meaningful, separate full financial statements, and thus, discrete financial information for Civic is no longer prepared or distributed to our chief operating decision maker. Thus, Civic no longer meets the criteria to be considered a
11



PACWEST BANCORP AND SUBSIDIARIES
Notes to Condensed Consolidated Financial Statements (Unaudited)

reportable operating segment. At March 31, 2023, we operated as one reportable segment - Commercial Banking.
Accounting Standards Adopted in 2023
Effective January 1, 2023, we completed the adoption of ASU 2022-02, “Financial Instruments – Credit Losses (Topic 326): Troubled Debt Restructurings and Vintage Disclosures," by eliminating the accounting guidance for TDRs by creditors, in ASC 310-40, Receivables – Troubled Debt Restructurings by Creditors, while enhancing disclosure requirements for restructurings involving borrowers that are experiencing financial difficulty. The Company updated its disclosures in Note 4. Loans and Leases to present information regarding loan modifications to borrowers experiencing financial difficulty. There was no transition adjustment recorded to retained earnings upon adoption. The adoption of this amendment did not have a material impact on the Company’s condensed consolidated financial statements.
Basis of Presentation    
Our interim condensed consolidated financial statements are prepared in accordance with U.S. GAAP for interim financial information and pursuant to the requirements for reporting on Form 10-Q and Article 10 of Regulation S-X of the Securities Exchange Act of 1934. Accordingly, certain disclosures accompanying annual consolidated financial statements are omitted. In the opinion of management, all significant intercompany accounts and transactions have been eliminated and adjustments, consisting solely of normal recurring accruals and considered necessary for the fair presentation of financial statements for the interim periods, have been included. The current period's results of operations are not necessarily indicative of the results that ultimately may be achieved for the year. The interim condensed consolidated financial statements and notes thereto should be read in conjunction with the audited consolidated financial statements and notes thereto included in our Form 10-K.
Use of Estimates
We have made a number of estimates and assumptions related to the reporting of assets and liabilities and the disclosure of contingent assets and liabilities at the date of the condensed consolidated financial statements and the reported amounts of revenue and expenses during the reporting period to prepare these condensed consolidated financial statements in conformity with U.S. GAAP. Actual results could differ from those estimates. Material estimates subject to change in the near term include, among other items, the allowance for credit losses (the combination of the allowance for loan and lease losses and the reserve for unfunded loan commitments), the carrying value of goodwill and other intangible assets, the fair value of loans held for sale, and the realization of deferred tax assets. These estimates may be adjusted as more current information becomes available, and any adjustment may be significant.
Reclassifications
Certain prior period amounts have been reclassified to conform to the current period's presentation format. In our loan and allowance tables, we realigned certain of our loan portfolio classes and subclasses to better reflect and report our lending. We made the following changes: (1) moved the "Multi-family" loan subclass from the residential real estate mortgage class into its own loan class; (2) moved the "Construction - renovation" loan subclass from the residential real estate construction and land loan class to the residential real estate mortgage class and renamed it "Residential renovation;" and (3) renamed the residential real estate mortgage loan class as "Other residential." All of the loan and allowance tables, both current period and prior periods, reflect these changes and realignment.
Risks and Uncertainties
The recent bank failures involving three prominent regional banks have resulted in significant market volatility among publicly traded bank holding companies, and, in particular, regional banks like PacWest. These bank failures, and the resulting customer fear of additional bank failures, has increased the following risks and uncertainties regarding our business; (i) the loss of customer deposits which, in turn, has put pressure on our liquidity position, (ii) the decrease in our net interest margin resulting from replacing lower-cost customer deposits with higher-cost brokered deposits and borrowings, (iii) the downgrading of our credit rating by third-party rating agencies which may result in increased borrowing costs and/or trigger additional collateral or funding requirements, and (iv) the potential for operating costs to increase due to higher FDIC assessments and other costs necessary to respond to increased regulatory requirements.
12



PACWEST BANCORP AND SUBSIDIARIES
Notes to Condensed Consolidated Financial Statements (Unaudited)

To respond to these increased risks and uncertainties we have taken the following actions to mitigate these risks; (a) we pledged additional assets as collateral for borrowings to increase our liquidity position for potential deposit outflows, (b) we have increased the number of customers enrolled in reciprocal deposit programs that increases the amount of FDIC insurance coverage on their account(s) to help retain these customers; (c) we are offering competitive promotional rates on our deposit products to attract new customer deposits, (d) we intend to complete strategic asset sales in the second quarter of 2023 to improve our liquidity position and capital ratios, and (e) we reduced our second quarter 2023 common dividend from $0.25 to $0.01 to improve our liquidity position and capital ratios.
NOTE 2. RESTRICTED CASH
The FRBSF establishes cash reserve requirements that its member banks must maintain based on a percentage of deposit liabilities. There were no reserves required to be held at the FRBSF for the three months ended March 31, 2023. As of March 31, 2023 and December 31, 2022, we pledged cash collateral for our derivative contracts of $2.4 million and $2.7 million. We have cash which is restricted based on the terms of some of our borrowing agreements that totaled $151.1 million at March 31, 2023 and $131.5 million at December 31, 2022.
13



PACWEST BANCORP AND SUBSIDIARIES
Notes to Condensed Consolidated Financial Statements (Unaudited)

NOTE 3. INVESTMENT SECURITIES     
Transfer of Securities Available-for-Sale to Held-to Maturity
Effective June 1, 2022, the Company transferred $2.3 billion in fair value of municipal securities, agency commercial MBS, private label commercial MBS, U.S. Treasury securities, and corporate debt securities from available-for-sale to held-to-maturity. At the time of transfer, $218.3 million of unrealized losses, net of tax, was retained in "Accumulated other comprehensive income (loss)" on the condensed consolidated balance sheets.
Securities Available-for-Sale
The following table presents amortized cost, gross unrealized gains and losses, and fair values of securities available-for-sale as of the dates indicated:
 March 31, 2023December 31, 2022
GrossGrossGrossGross
AmortizedUnrealizedUnrealizedFairAmortizedUnrealizedUnrealizedFair
Security TypeCostGainsLossesValueCostGainsLossesValue
 (In thousands)
Agency residential MBS$2,645,975 $— $(396,895)$2,249,080 $2,685,038 $— $(442,996)$2,242,042 
U.S. Treasury securities771,208 — (85,772)685,436 771,145 — (101,075)670,070 
Agency commercial MBS545,480 — (53,799)491,681 549,492 — (61,886)487,606 
Agency residential CMOs509,303 — (53,621)455,682 517,174 — (60,111)457,063 
Municipal securities 395,709 — (50,070)345,639 399,724 — (60,398)339,326 
Corporate debt securities344,747 — (54,953)289,794 344,767 (32,868)311,905 
Private label residential CMOs203,088 — (38,685)164,403 207,123 — (40,399)166,724 
Collateralized loan obligations109,166 — (6,172)102,994 109,159 — (6,898)102,261 
Private label commercial MBS27,331 — (1,796)25,535 28,903 — (2,076)26,827 
Asset-backed securities22,864 — (407)22,457 23,568 — (1,155)22,413 
SBA securities16,895 — (989)15,906 18,524 — (1,274)17,250 
Total$5,591,766 $— $(743,159)$4,848,607 $5,654,617 $$(811,136)$4,843,487 
As of March 31, 2023, the Company had not recorded an allowance for credit losses on securities available-for-sale. The Company does not consider unrealized losses on such securities to be attributable to credit-related factors, as the unrealized losses have occurred as a result of changes in non-credit related factors such as interest rates, market spreads, and market conditions subsequent to purchase.
As of March 31, 2023, securities available-for-sale with a fair value of $4.6 billion were pledged as collateral primarily for the Bank Term Funding Program borrowings, FRB secured line of credit, and FHLB secured line of credit borrowings.
Realized Gains and Losses on Securities Available-for-Sale
The following table presents the amortized cost of securities sold with related gross realized gains, gross realized losses, and net realized (losses) gains for the years indicated:
Three Months Ended
March 31,
Sales of Securities Available-for-Sale20232022
(In thousands)
Amortized cost of securities sold $— $206,088 
Gross realized gains$— $1,190 
Gross realized losses— (1,086)
Net realized gains (losses) $— $104 
14



PACWEST BANCORP AND SUBSIDIARIES
Notes to Condensed Consolidated Financial Statements (Unaudited)

Unrealized Losses on Securities Available-for-Sale
The following tables present the gross unrealized losses and fair values of securities available-for-sale that were in unrealized loss positions as of the dates indicated:
March 31, 2023
 Less Than 12 Months12 Months or MoreTotal
GrossGrossGross
FairUnrealizedFairUnrealizedFairUnrealized
Security TypeValueLossesValueLossesValueLosses
 (In thousands)
Agency residential MBS$6,665 $(306)$2,242,415 $(396,589)$2,249,080 $(396,895)
U.S. Treasury securities4,993 (7)680,443 (85,765)685,436 (85,772)
Agency commercial MBS20,806 (977)470,875 (52,822)491,681 (53,799)
Agency residential CMOs35,116 (2,707)420,566 (50,914)455,682 (53,621)
Municipal securities 836 (44)344,803 (50,026)345,639 (50,070)
Corporate debt securities119,754 (18,667)170,040 (36,286)289,794 (54,953)
Private label residential CMOs1,226 (6)163,177 (38,679)164,403 (38,685)
Collateralized loan obligations18,690 (838)84,304 (5,334)102,994 (6,172)
Private label commercial MBS— — 25,534 (1,796)25,534 (1,796)
Asset-backed securities— — 22,457 (407)22,457 (407)
SBA securities— — 15,906 (989)15,906 (989)
Total$208,086 $(23,552)$4,640,520 $(719,607)$4,848,606 $(743,159)
December 31, 2022
 Less Than 12 Months12 Months or MoreTotal
GrossGrossGross
FairUnrealizedFairUnrealizedFairUnrealized
Security TypeValueLossesValueLossesValueLosses
 (In thousands)
Agency residential MBS$52,556 $(6,193)$2,189,485 $(436,803)$2,242,041 $(442,996)
U.S. Treasury securities4,972 (26)665,098 (101,049)670,070 (101,075)
Agency commercial MBS316,892 (31,139)170,714 (30,747)487,606 (61,886)
Agency residential CMOs245,755 (22,748)211,309 (37,363)457,064 (60,111)
Municipal securities 37,380 (3,129)298,266 (57,269)335,646 (60,398)
Corporate debt securities302,643 (32,124)4,256 (744)306,899 (32,868)
Private label residential CMOs19,261 (1,294)147,464 (39,105)166,725 (40,399)
Collateralized loan obligations27,704 (1,818)74,558 (5,080)102,262 (6,898)
Private label commercial MBS10,204 (508)16,623 (1,568)26,827 (2,076)
Asset-backed securities22,413 (1,155)— — 22,413 (1,155)
SBA securities17,250 (1,274)— — 17,250 (1,274)
Total$1,057,030 $(101,408)$3,777,773 $(709,728)$4,834,803 $(811,136)
The securities that were in an unrealized loss position at March 31, 2023, were considered impaired and required further review to determine if the unrealized losses were credit-related. We concluded the unrealized losses were a result of the level of market interest rates relative to the types of securities and pricing changes caused by shifting supply and demand dynamics and not a result of downgraded credit ratings or other indicators of deterioration of the underlying issuers' ability to repay. We also considered the seniority of the tranches and U.S. government agency guarantees, if any, to assess whether an unrealized loss was credit-related. Accordingly, we determined the unrealized losses were not credit-related and recognized the unrealized losses in "Accumulated other comprehensive (loss) income" of "Stockholders' equity" on the condensed consolidated balance sheets. Although we periodically sell securities for portfolio management purposes, we do not foresee having to sell any impaired securities and believe that it is more likely than not we would not be required to sell any impaired securities before recovery of their amortized cost.
15



PACWEST BANCORP AND SUBSIDIARIES
Notes to Condensed Consolidated Financial Statements (Unaudited)

Contractual Maturities of Securities Available-for-Sale
The following table presents the contractual maturities of our securities available-for-sale portfolio based on amortized cost and carrying value as of the date indicated:
March 31, 2023
Due AfterDue After
Due One Year Five YearsDue
WithinThroughThroughAfter
Security TypeOne YearFive YearsTen YearsTen YearsTotal
(In thousands)
Amortized Cost:
Agency residential MBS$— $— $— $2,645,975 $2,645,975 
U.S. Treasury securities4,999 503,869 262,340 — 771,208 
Agency commercial MBS— 205,442 321,502 18,536 545,480 
Agency residential CMOs— — 175,473 333,830 509,303 
Municipal securities— 53,855 319,463 22,391 395,709 
Corporate debt securities— 5,000 339,747 — 344,747 
Private label residential CMOs— — — 203,088 203,088 
Collateralized loan obligations— — 70,329 38,837 109,166 
Private label commercial MBS— — — 27,331 27,331 
Asset-backed securities— — — 22,864 22,864 
SBA securities— 3,409 — 13,486 16,895 
Total$4,999 $771,575 $1,488,854 $3,326,338 $5,591,766 
Fair Value:
Agency residential MBS$— $— $— $2,249,080 $2,249,080 
U.S. Treasury securities4,993 448,478 231,965 — 685,436 
Agency commercial MBS— 191,319 282,520 17,842 491,681 
Agency residential CMOs— — 154,603 301,079 455,682 
Municipal securities— 48,293 276,487 20,859 345,639 
Corporate debt securities— 4,957 284,837 — 289,794 
Private label residential CMOs— — — 164,403 164,403 
Collateralized loan obligations— — 67,321 35,673 102,994 
Private label commercial MBS— — — 25,535 25,535 
Asset-backed securities— — — 22,457 22,457 
SBA securities— 3,279 — 12,627 15,906 
Total$4,993 $696,326 $1,297,733 $2,849,555 $4,848,607 
CMBS, CMOs, and MBS have contractual maturity dates, but require periodic payments based upon scheduled amortization terms. Actual principal collections on these securities usually occur more rapidly than the scheduled amortization terms because of prepayments made by obligors of the underlying loan collateral.
16



PACWEST BANCORP AND SUBSIDIARIES
Notes to Condensed Consolidated Financial Statements (Unaudited)

Securities Held-to-Maturity
The following table presents amortized cost, allowance for credit losses, gross unrealized gains and losses, and fair values of securities held-to-maturity as of the date indicated:
 March 31, 2023
Allowance
forNetGrossGross
AmortizedCreditCarryingUnrealizedUnrealizedFair
Security TypeCostLossesAmountGainsLossesValue
 (In thousands)
Municipal securities $1,244,441 $(140)$1,244,301 $814 $(41,203)$1,203,912 
Agency commercial MBS428,995 — 428,995 — (26,135)402,860 
Private label commercial MBS346,976 — 346,976 — (28,371)318,605 
U.S. Treasury securities184,862 — 184,862 — (8,233)176,629 
Corporate debt securities69,876 (1,360)68,516 — (13,466)55,050 
Total (1)
$2,275,150 $(1,500)$2,273,650 $814 $(117,408)$2,157,056 
__________________________
(1)    Excludes accrued interest receivable of $11.3 million at March 31, 2023 which is recorded in "Other assets" on the condensed consolidated balance sheets.
 December 31, 2022
Allowance
forNetGrossGross
AmortizedCreditCarryingUnrealizedUnrealizedFair
Security TypeCostLossesAmountGainsLossesValue
 (In thousands)
Municipal securities $1,243,443 $(140)$1,243,303 $$(77,526)$1,165,785 
Agency commercial MBS427,411 — 427,411 — (34,287)393,124 
Private label commercial MBS345,825 — 345,825 — (26,027)319,798 
U.S. Treasury securities184,162 — 184,162 — (12,462)171,700 
Corporate debt securities69,794 (1,360)68,434 — (8,369)60,065 
Total (1)
$2,270,635 $(1,500)$2,269,135 $$(158,671)$2,110,472 
__________________________
(1)    Excludes accrued interest receivable of $13.5 million at December 31, 2022 which is recorded in "Other assets" on the condensed consolidated balance sheets.
As of March 31, 2023, securities held-to-maturity with a fair value of $2.1 billion were pledged as collateral primarily for public deposits, the FRB secured line of credit, Bank Term Funding Program borrowings, and letters of credit.
17



PACWEST BANCORP AND SUBSIDIARIES
Notes to Condensed Consolidated Financial Statements (Unaudited)

Allowance for Credit Losses on Securities Held-to-Maturity
The following table presents the changes by major security type in our allowance for credit losses on securities held-to-maturity for the periods indicated:
Allowance forProvision Allowance for
Credit Losses,for Credit Losses,
Beginning Credit End of
Security Typeof PeriodLossesCharge-offsRecoveriesPeriod
(In thousands)
Three Months Ended March 31, 2023
Municipal securities$140 $— $— $— $140 
Corporate debt securities1,360 — — — 1,360 
Total$1,500 $— $— $— $1,500 
Credit losses on HTM securities are recorded at the time of purchase, acquisition, or when the Company designates securities as held-to-maturity. Credit losses on HTM securities are representative of current expected credit losses that may be incurred over the life of the investment. Accrued interest receivable on HTM securities, which is included in other assets on the condensed consolidated balance sheets, is excluded from the estimate of expected credit losses. HTM U.S. treasury securities and agency-backed MBS securities are considered to have no risk of loss as they are either explicitly or implicitly guaranteed by the U.S. government. The change in fair value in the HTM private label CMBS portfolio is solely driven by changes in interest rates. The Company has no knowledge of any underlying credit issues and the cash flows underlying the debt securities have not changed and are not expected to be impacted by changes in interest rates and, thus, there is no related ACL for this portfolio. The underlying bonds in the Company’s HTM municipal securities and HTM corporate debt securities portfolios are evaluated for credit losses in conjunction with management’s estimate of the allowance for credit losses based primarily on credit ratings.
Securities Held-to-Maturity by Credit Quality Indicator
The Company uses S&P, Moody's, Fitch, Kroll, and Egan Jones ratings as the credit quality indicators for its held-to-maturity securities. The following table presents our securities held-to-maturity portfolio at amortized cost by the lowest available credit rating as of the dates indicated:
March 31, 2023
Security TypeAAAAA+AAAA-AA-BBBNRTotal
(In thousands)
Amortized Cost:
Municipal securities$551,978 $397,018 $174,273 $95,566 $1,898 $— $— $23,708 $1,244,441 
Agency commercial MBS— 428,995 — — — — — — 428,995 
Private label commercial
MBS346,976 — — — — — — — 346,976 
U.S. Treasury securities— 184,862 — — — — — — 184,862 
Corporate debt securities— — — — — 23,268 21,007 25,601 69,876 
Total$898,954 $1,010,875 $174,273 $95,566 $1,898 $23,268 $21,007 $49,309 $2,275,150 
18



PACWEST BANCORP AND SUBSIDIARIES
Notes to Condensed Consolidated Financial Statements (Unaudited)

December 31, 2022
Security TypeAAAAA+AAAA-AA-BBBNRTotal
(In thousands)
Amortized Cost:
Municipal securities$568,674 $385,990 $173,751 $95,471 $1,901 $— $— $17,656 $1,243,443 
Agency commercial MBS— 427,411 — — — — — — 427,411 
Private label commercial
MBS345,825 — — — — — — — 345,825 
U.S. Treasury securities— 184,162 — — — — — — 184,162 
Corporate debt securities— — — — — 23,244 20,999 25,551 69,794 
Total$914,499 $997,563 $173,751 $95,471 $1,901 $23,244 $20,999 $43,207 $2,270,635 
Contractual Maturities of Securities Held-to-Maturity
The following table presents the contractual maturities of our securities held-to-maturity portfolio based on amortized cost and fair value as of the date indicated:
March 31, 2023
Due AfterDue After
Due One Year Five YearsDue
WithinThroughThroughAfter
Security TypeOne YearFive YearsTen YearsTen YearsTotal
(In thousands)
Amortized Cost:
Municipal securities$— $— $350,751 $893,690 $1,244,441 
Agency commercial MBS— — 407,855 21,140 428,995 
Private label commercial MBS— — 36,089 310,887 346,976 
U.S. Treasury securities— — 184,862 — 184,862 
Corporate debt securities— — — 69,876 69,876 
Total$— $— $979,557 $1,295,593 $2,275,150 
Fair Value:
Municipal securities$— $— $335,601 $868,311 $1,203,912 
Agency commercial MBS— — 382,601 20,259 402,860 
Private label commercial MBS— — 33,282 285,323 318,605 
U.S. Treasury securities— — 176,629 — 176,629 
Corporate debt securities— — — 55,050 55,050 
Total$— $— $928,113 $1,228,943 $2,157,056 
CMBS have contractual maturity dates, but require periodic payments based upon scheduled amortization terms. Actual principal collections on these securities usually occur more rapidly than the scheduled amortization terms because of prepayments made by obligors of the underlying loan collateral.
19



PACWEST BANCORP AND SUBSIDIARIES
Notes to Condensed Consolidated Financial Statements (Unaudited)

Interest Income on Investment Securities
The following table presents the composition of our interest income on investment securities, including available-for-sale and held-to-maturity, for the periods indicated:
Three Months Ended
March 31,
20232022
(In thousands)
Taxable interest$38,692 $44,642 
Non-taxable interest4,903 8,519 
Dividend income642 261 
Total interest income on investment securities$44,237 $53,422 
20



PACWEST BANCORP AND SUBSIDIARIES
Notes to Condensed Consolidated Financial Statements (Unaudited)

NOTE 4.  LOANS AND LEASES
Our loans are carried at the principal amount outstanding, net of deferred fees and costs, and in the case of acquired and purchased loans, net of purchase discounts and premiums. Deferred fees and costs and purchase discounts and premiums on acquired loans are recognized as an adjustment to interest income over the contractual life of the loans primarily using the effective interest method or taken into income when the related loans are paid off or included in the carrying amount of loans that are sold.
Loans and Leases Held for Investment
The following table summarizes the composition of our loans and leases held for investment as of the dates indicated:
March 31,December 31,
20232022
(In thousands)
Real estate mortgage$15,436,731 $15,762,351 
Real estate construction and land (1)
4,674,473 4,221,853 
Commercial5,232,521 8,297,182 
Consumer427,187 444,630 
Total gross loans and leases held for investment25,770,912 28,726,016 
Deferred fees, net(98,531)(116,887)
Total loans and leases held for investment, net of deferred fees25,672,381 28,609,129 
Allowance for loan and lease losses(210,055)(200,732)
Total loans and leases held for investment, net (2)
$25,462,326 $28,408,397 
____________________
(1)    Includes land and acquisition and development loans of $142.9 million and $153.5 million at March 31, 2023 and December 31, 2022.
(2)    Excludes accrued interest receivable of $131.7 million and $124.3 million at March 31, 2023 and December 31, 2022, respectively, which is recorded in "Other assets" on the condensed consolidated balance sheets.
The following tables present an aging analysis of our loans and leases held for investment, net of deferred fees, by loan portfolio segment and class as of the dates indicated:
March 31, 2023
30 - 8990 or More
DaysDaysTotal
Past DuePast DuePast DueCurrentTotal
 (In thousands)
Real estate mortgage:
Commercial$3,524 $21,578 $25,102 $3,783,649 $3,808,751 
Multi-family— — — 5,523,320 5,523,320 
Other residential138,372 27,080 165,452 5,910,088 6,075,540 
Total real estate mortgage141,896 48,658 190,554 15,217,057 15,407,611 
Real estate construction and land:
Commercial— — — 910,327 910,327 
Residential— — — 3,698,113 3,698,113 
Total real estate construction and land— — — 4,608,440 4,608,440 
Commercial:
Asset-based— 420 420 2,067,907 2,068,327 
Venture capital— — — 2,058,237 2,058,237 
Other commercial941 352 1,293 1,101,250 1,102,543 
Total commercial941 772 1,713 5,227,394 5,229,107 
Consumer1,594 506 2,100 425,123 427,223 
Total$144,431 $49,936 $194,367 $25,478,014 $25,672,381 
21



PACWEST BANCORP AND SUBSIDIARIES
Notes to Condensed Consolidated Financial Statements (Unaudited)

December 31, 2022
30 - 8990 or More
DaysDaysTotal
Past DuePast DuePast DueCurrentTotal
 (In thousands)
Real estate mortgage:
Commercial$1,721 $29,269 $30,990 $3,815,841 $3,846,831 
Multi-family— — — 5,607,865 5,607,865 
Other residential101,728 39,875 141,603 6,134,025 6,275,628 
Total real estate mortgage103,449 69,144 172,593 15,557,731 15,730,324 
Real estate construction and land:
Commercial— — — 898,592 898,592 
Residential— — — 3,253,580 3,253,580 
Total real estate construction and land— — — 4,152,172 4,152,172 
Commercial:
Asset-based— 434 434 5,139,775 5,140,209 
Venture capital— — — 2,033,302 2,033,302 
Other commercial461 1,195 1,656 1,106,795 1,108,451 
Total commercial461 1,629 2,090 8,279,872 8,281,962 
Consumer1,935 149 2,084 442,587 444,671 
Total$105,845 $70,922 $176,767 $28,432,362 $28,609,129 
It is our policy to discontinue accruing interest when principal or interest payments are past due 90 days or more (unless the loan is both well secured and in the process of collection) or when, in the opinion of management, there is a reasonable doubt as to the collectability of a loan or lease in the normal course of business. Interest income on nonaccrual loans is recognized only to the extent cash is received and the principal balance of the loan is deemed collectable.
The following table presents our nonaccrual and performing loans and leases held for investment, net of deferred fees, by loan portfolio segment and class as of the dates indicated:  
 March 31, 2023December 31, 2022
NonaccrualPerformingTotalNonaccrualPerformingTotal
 (In thousands)
Real estate mortgage:
Commercial$32,996 $3,775,755 $3,808,751 $42,509 $3,804,322 $3,846,831 
Multi-family— 5,523,320 5,523,320 — 5,607,865 5,607,865 
Other residential50,060 6,025,480 6,075,540 55,893 6,219,735 6,275,628 
Total real estate mortgage83,056 15,324,555 15,407,611 98,402 15,631,922 15,730,324 
Real estate construction and land:
Commercial— 910,327 910,327 — 898,592 898,592 
Residential— 3,698,113 3,698,113 — 3,253,580 3,253,580 
Total real estate construction and land— 4,608,440 4,608,440 — 4,152,172 4,152,172 
Commercial:
Asset-based420 2,067,907 2,068,327 865 5,139,344 5,140,209 
Venture capital— 2,058,237 2,058,237 — 2,033,302 2,033,302 
Other commercial3,123 1,099,420 1,102,543 4,345 1,104,106 1,108,451 
Total commercial3,543 5,225,564 5,229,107 5,210 8,276,752 8,281,962 
Consumer525 426,698 427,223 166 444,505 444,671 
Total$87,124 $25,585,257 $25,672,381 $103,778 $28,505,351 $28,609,129 
22



PACWEST BANCORP AND SUBSIDIARIES
Notes to Condensed Consolidated Financial Statements (Unaudited)

At March 31, 2023, nonaccrual loans and leases included $49.9 million of loans and leases 90 or more days past due, $15.1 million of loans and leases 30 to 89 days past due, and $22.1 million of loans and leases current with respect to contractual payments that were placed on nonaccrual status based on management’s judgment regarding their collectability. At December 31, 2022, nonaccrual loans and leases included $70.9 million of loans and leases 90 or more days past due, $6.8 million of loans and leases 30 to 89 days past due, and $26.0 million of current loans and leases that were placed on nonaccrual status based on management’s judgment regarding their collectability.
As of March 31, 2023, our three largest loan relationships on nonaccrual status had an aggregate carrying value of $23.8 million and represented 27% of total nonaccrual loans and leases.
The following tables present the credit risk rating categories for loans and leases held for investment, net of deferred fees, by loan portfolio segment and class as of the dates indicated. Classified loans and leases are those with a credit risk rating of either substandard or doubtful.
March 31, 2023
ClassifiedSpecial MentionPassTotal
(In thousands)
Real estate mortgage:
Commercial$35,596 $109,020 $3,664,135 $3,808,751 
Multi-family3,586 116,092 5,403,642 5,523,320 
Other residential76,382 44,810 5,954,348 6,075,540 
Total real estate mortgage115,564 269,922 15,022,125 15,407,611 
Real estate construction and land:
Commercial— 93,641 816,686 910,327 
Residential— 44,997 3,653,116 3,698,113 
Total real estate construction and land— 138,638 4,469,802 4,608,440 
Commercial:
Asset-based420 33,133 2,034,774 2,068,327 
Venture capital2,615 126,422 1,929,200 2,058,237 
Other commercial13,126 5,036 1,084,381 1,102,543 
Total commercial16,161 164,591 5,048,355 5,229,107 
Consumer 698 7,002 419,523 427,223 
Total$132,423 $580,153 $24,959,805 $25,672,381 
23



PACWEST BANCORP AND SUBSIDIARIES
Notes to Condensed Consolidated Financial Statements (Unaudited)


December 31, 2022
ClassifiedSpecial MentionPassTotal
(In thousands)
Real estate mortgage:
Commercial$43,737 $106,493 $3,696,601 $3,846,831 
Multi-family3,611 60,330 5,543,924 5,607,865 
Other residential60,557 58,063 6,157,008 6,275,628 
Total real estate mortgage107,905 224,886 15,397,533 15,730,324 
Real estate construction and land:
Commercial— 91,334 807,258 898,592 
Residential— 45,155 3,208,425 3,253,580 
Total real estate construction and land— 136,489 4,015,683 4,152,172 
Commercial:
Asset-based865 56,836 5,082,508 5,140,209 
Venture capital2,753 127,907 1,902,642 2,033,302 
Other commercial6,473 13,233 1,088,745 1,108,451 
Total commercial10,091 197,976 8,073,895 8,281,962 
Consumer 275 6,908 437,488 444,671 
Total$118,271 $566,259 $27,924,599 $28,609,129 
24



PACWEST BANCORP AND SUBSIDIARIES
Notes to Condensed Consolidated Financial Statements (Unaudited)

The following table presents our nonaccrual loans and leases by loan portfolio segment and class and by with and without an allowance recorded as of the date indicated and interest income recognized on nonaccrual loans and leases for the periods indicated:                 
Three MonthsThree Months
EndedEnded
March 31,March 31,March 31,March 31,
 2023202320222022
NonaccrualInterestNonaccrualInterest
Recorded Income RecordedIncome
InvestmentRecognizedInvestmentRecognized
 (In thousands)
With An Allowance Recorded:  
Real estate mortgage:
Commercial$60 $— $68 $ 
Multi-family— — —  
Other residential364 — 4,109  
Real estate construction and land:
Commercial— — —  
Residential— — 493  
Commercial:
Asset based— — 874  
Venture capital— — 3,659  
Other commercial927 — 1,274  
Consumer525 — 387  
With No Related Allowance Recorded:
Real estate mortgage:
Commercial$32,936 $$32,004 $17 
Multi-family— — — — 
Other residential49,696 — 13,982 — 
Real estate construction and land:
Commercial— — — — 
Residential— — 5,093 — 
Commercial:
Asset based420 — 449 — 
Venture capital— — — — 
Other commercial2,196 4,146 354 
Consumer— — — — 
Total Loans and Leases With and
Without an Allowance Recorded:
Real estate mortgage$83,056 $$50,163 $17 
Real estate construction and land— — 5,586 — 
Commercial3,543 10,402 354 
Consumer525 — 387 — 
Total$87,124 $$66,538 $371 









25



PACWEST BANCORP AND SUBSIDIARIES
Notes to Condensed Consolidated Financial Statements (Unaudited)

The following tables present our loans held for investment by loan portfolio segment and class, by credit quality indicator (internal risk ratings), and by year of origination (vintage year) as of the dates indicated:
Revolving
Converted
Amortized Cost Basis (1)
Term Loans by Origination YearRevolvingto Term
March 31, 202320232022202120202019PriorLoansLoansTotal
(In thousands)
Real Estate Mortgage:
Commercial
Internal risk rating:
1-2 High pass$— $4,935 $2,712 $10,178 $27,110 $40,532 $1,305 $— $86,772 
3-4 Pass43,528 537,793 498,774 460,109 317,986 1,623,820 85,376 9,977 3,577,363 
5 Special mention— — — 724 14,957 93,339 — — 109,020 
6-8 Classified— — 552 458 1,265 33,321 — — 35,596 
Total$43,528 $542,728 $502,038 $471,469 $361,318 $1,791,012 $86,681 $9,977 $3,808,751 
Current YTD period:
Gross charge-offs$— $— $— $— $— $6,926 $— $— $6,926 
Real Estate Mortgage:
Multi-family
Internal risk rating:
1-2 High pass$— $23,561 $84,153 $26,843 $55,542 $104,508 $— $— $294,607 
3-4 Pass1,380 1,916,440 1,084,926 441,047 672,385 936,345 56,512 — 5,109,035 
5 Special mention— — — 37,211 29,430 49,451 — — 116,092 
6-8 Classified— — — — — 3,586 — — 3,586 
Total$1,380 $1,940,001 $1,169,079 $505,101 $757,357 $1,093,890 $56,512 $— $5,523,320 
Current YTD period:
Gross charge-offs$— $— $— $— $— $— $— $— $— 
Real Estate Mortgage:
Other residential
Internal risk rating:
1-2 High pass$— $— $— $— $— $— $1,500 $— $1,500 
3-4 Pass299,234 2,432,852 3,077,525 78,709 — 20,047 44,380 101 5,952,848 
5 Special mention— 18,810 26,000 — — — — — 44,810 
6-8 Classified(1,456)26,587 41,041 7,683 — 2,368 — 159 76,382 
Total$297,778 $2,478,249 $3,144,566 $86,392 $— $22,415 $45,880 $260 $6,075,540 
Current YTD period:
Gross charge-offs$— $1,600 $1,214 $91 $— $$— $— $2,909 
____________________
(1)    Amounts with negative balances are loans with zero principal balances and deferred loan origination fees.



26



PACWEST BANCORP AND SUBSIDIARIES
Notes to Condensed Consolidated Financial Statements (Unaudited)

Revolving
Converted
Amortized Cost Basis (1)
Term Loans by Origination YearRevolvingto Term
March 31, 202320232022202120202019PriorLoansLoansTotal
(In thousands)
Real Estate Construction
and Land: Commercial
Internal risk rating:
1-2 High pass$— $— $— $— $— $— $— $— $— 
3-4 Pass— 356,981 182,400 80,045 173,735 23,525 — — 816,686 
5 Special mention— — — — — 93,641 — — 93,641 
6-8 Classified— — — — — — — — — 
Total$— $356,981 $182,400 $80,045 $173,735 $117,166 $— $— $910,327 
Current YTD period:
Gross charge-offs$— $— $— $— $— $— $— $— $— 
Real Estate Construction
and Land: Residential
Internal risk rating:
1-2 High pass$— $— $— $— $— $— $— $— $— 
3-4 Pass10,606 810,532 1,592,751 869,174 206,942 128,373 34,738 — 3,653,116 
5 Special mention— — — — 44,997 — — — 44,997 
6-8 Classified— — — — — — — — — 
Total$10,606 $810,532 $1,592,751 $869,174 $251,939 $128,373 $34,738 $— $3,698,113 
Current YTD period:
Gross charge-offs$— $— $— $— $— $— $— $— $— 
Commercial: Asset-Based
Internal risk rating:
1-2 High pass$1,493 $270,573 $219,771 $46,719 $148,394 $319,219 $(20)$— $1,006,149 
3-4 Pass30,268 351,394 170,393 47,637 33,991 44,076 349,019 1,847 1,028,625 
5 Special mention— 177 — — — 14,473 18,451 32 33,133 
6-8 Classified— — — — — 420 — — 420 
Total$31,761 $622,144 $390,164 $94,356 $182,385 $378,188 $367,450 $1,879 $2,068,327 
Current YTD period:
Gross charge-offs$— $— $— $— $— $— $— $— $— 
Commercial: Venture
Capital
Internal risk rating:
1-2 High pass
$(53)$(16)$— $1,999 $— $27 $174,702 $(557)$176,102 
3-4 Pass(10)137,072 146,732 22,178 3,711 2,173 1,375,198 66,044 1,753,098 
5 Special mention— 14,303 42,585 4,484 22,258 — 37,799 4,993 126,422 
6-8 Classified— — 2,615 — — — — — 2,615 
Total$(63)$151,359 $191,932 $28,661 $25,969 $2,200 $1,587,699 $70,480 $2,058,237 
Current YTD period:
Gross charge-offs$— $— $— $— $— $— $— $— $— 
____________________
(1)    Amounts with negative balances are loans with zero principal balances and deferred loan origination fees.

27



PACWEST BANCORP AND SUBSIDIARIES
Notes to Condensed Consolidated Financial Statements (Unaudited)

Revolving
Converted
Amortized Cost Basis (1)
Term Loans by Origination YearRevolvingto Term
March 31, 202320232022202120202019PriorLoansLoansTotal
(In thousands)
Commercial: Other
Commercial
Internal risk rating:
1-2 High pass$655 $2,328 $8,215 $(20)$65 $(36)$21,365 $— $32,572 
3-4 Pass3,579 96,573 274,960 51,500 37,466 127,936 456,166 3,629 1,051,809 
5 Special mention— — 317 151 610 2,386 1,488 84 5,036 
6-8 Classified— 6,702 — — 300 2,542 2,725 857 13,126 
Total$4,234 $105,603 $283,492 $51,631 $38,441 $132,828 $481,744 $4,570 $1,102,543 
Current YTD period:
Gross charge-offs$— $— $— $— $— $— $47 $90 $137 
Consumer
Internal risk rating:
1-2 High pass$— $32 $28 $$— $— $1,041 $— $1,107 
3-4 Pass66 61,167 217,470 19,885 45,584 64,999 9,245 — 418,416 
5 Special mention— 1,379 3,557 451 1,225 250 140 — 7,002 
6-8 Classified— — 356 38 176 108 19 698 
Total$66 $62,578 $221,411 $20,380 $46,985 $65,357 $10,427 $19 $427,223 
Current YTD period:
Gross charge-offs$— $79 $31 $— $144 $170 $$— $425 
Total Loans and Leases
Internal risk rating:
1-2 High pass$2,095 $301,413 $314,879 $85,725 $231,111 $464,250 $199,893 $(557)$1,598,809 
3-4 Pass388,651 6,700,804 7,245,931 2,070,284 1,491,800 2,971,294 2,410,634 81,598 23,360,996 
5 Special mention— 34,669 72,459 43,021 113,477 253,540 57,878 5,109 580,153 
6-8 Classified(1,456)33,289 44,564 8,179 1,741 42,345 2,726 1,035 132,423 
Total$389,290 $7,070,175 $7,677,833 $2,207,209 $1,838,129 $3,731,429 $2,671,131 $87,185 $25,672,381 
Current YTD period:
Gross charge-offs$— $1,679 $1,245 $91 $144 $7,100 $48 $90 $10,397 
______________________
(1)    Amounts with negative balances are loans with zero principal balances and deferred loan origination fees.
28



PACWEST BANCORP AND SUBSIDIARIES
Notes to Condensed Consolidated Financial Statements (Unaudited)

Revolving
Converted
Amortized Cost Basis (1)
Term Loans by Origination YearRevolvingto Term
December 31, 202220222021202020192018PriorLoansLoansTotal
(In thousands)
Real Estate Mortgage:
Commercial
Internal risk rating:
1-2 High pass$4,957 $3,791 $7,215 $26,132 $4,690 $35,343 $1,290 $— $83,418 
3-4 Pass537,931 501,576 467,792 322,448 539,701 1,148,386 85,284 10,065 3,613,183 
5 Special mention— — 728 16,394 2,294 87,077 — — 106,493 
6-8 Classified— 559 464 1,310 27,396 14,008 — — 43,737 
Total$542,888 $505,926 $476,199 $366,284 $574,081 $1,284,814 $86,574 $10,065 $3,846,831 
Current YTD period:
Gross charge-offs$— $67 $— $79 $2,258 $326 $— $— $2,730 
Real Estate Mortgage:
Multi-family
Internal risk rating:
1-2 High pass$— $89,251 $19,945 $58,275 $66,219 $69,805 $— $— $303,495 
3-4 Pass1,940,337 1,084,467 523,645 676,169 446,987 511,185 57,639 — 5,240,429 
5 Special mention— — 4,944 16,974 7,003 31,409 — — 60,330 
6-8 Classified— — — — 2,750 861 — — 3,611 
Total$1,940,337 $1,173,718 $548,534 $751,418 $522,959 $613,260 $57,639 $— $5,607,865 
Current YTD period:
Gross charge-offs$— $— $— $— $— $— $— $— $— 
Real Estate Mortgage:
Other residential
Internal risk rating:
1-2 High pass$— $— $— $— $— $— $1,000 $— $1,000 
3-4 Pass2,805,533 3,200,013 83,580 — 237 20,394 46,155 96 6,156,008 
5 Special mention27,272 25,766 4,916 — 109 — — — 58,063 
6-8 Classified19,248 33,218 5,333 — — 2,555 — 203 60,557 
Total$2,852,053 $3,258,997 $93,829 $— $346 $22,949 $47,155 $299 $6,275,628 
Current YTD period:
Gross charge-offs$249 $1,084 $912 $— $— $81 $— $— $2,326 
____________________
(1)    Amounts with negative balances are loans with zero principal balances and deferred loan origination fees.
29



PACWEST BANCORP AND SUBSIDIARIES
Notes to Condensed Consolidated Financial Statements (Unaudited)

Revolving
Converted
Amortized Cost Basis (1)
Term Loans by Origination YearRevolvingto Term
December 31, 202220222021202020192018PriorLoansLoansTotal
(In thousands)
Real Estate Construction
and Land: Commercial
Internal risk rating:
1-2 High pass$— $— $— $— $— $— $— $— $— 
3-4 Pass299,538 170,397 74,634 237,294 17,763 7,632 — — 807,258 
5 Special mention— — — — 91,334 — — — 91,334 
6-8 Classified— — — — — — — — — 
Total$299,538 $170,397 $74,634 $237,294 $109,097 $7,632 $— $— $898,592 
Current YTD period:
Gross charge-offs$— $— $— $— $— $— $— $— $— 
Real Estate Construction
and Land: Residential
Internal risk rating:
1-2 High pass$— $— $— $— $— $— $— $— $— 
3-4 Pass605,683 1,302,061 844,041 282,076 125,805 204 48,555 — 3,208,425 
5 Special mention— — — 45,155 — — — — 45,155 
6-8 Classified— — — — — — — — — 
Total$605,683 $1,302,061 $844,041 $327,231 $125,805 $204 $48,555 $— $3,253,580 
Current YTD period:
Gross charge-offs$— $— $— $— $— $— $— $— $— 
Commercial: Asset-Based
Internal risk rating:
1-2 High pass$225,140 $209,272 $57,727 $202,063 $121,600 $208,542 $850,031 $— $1,874,375 
3-4 Pass547,675 188,269 52,711 35,811 33,426 40,714 2,239,785 69,742 3,208,133 
5 Special mention— — — 43,409 — 3,505 9,922 — 56,836 
6-8 Classified— — — — — 434 — 431 865 
Total$772,815 $397,541 $110,438 $281,283 $155,026 $253,195 $3,099,738 $70,173 $5,140,209 
Current YTD period:
Gross charge-offs$— $— $— $— $— $— $750 $— $750 
Commercial: Venture
Capital
Internal risk rating:
1-2 High pass
$(40)$— $2,000 $— $134 $$216,535 $503 $219,135 
3-4 Pass92,015 136,296 18,075 3,705 1,833 910 1,365,101 65,572 1,683,507 
5 Special mention13,970 40,924 4,483 23,202 — — 40,335 4,993 127,907 
6-8 Classified— 2,753 — — — — — — 2,753 
Total$105,945 $179,973 $24,558 $26,907 $1,967 $913 $1,621,971 $71,068 $2,033,302 
Current YTD period:
Gross charge-offs$— $— $— $— $— $— $940 $— $940 
____________________
(1)    Amounts with negative balances are loans with zero principal balances and deferred loan origination fees.

30



PACWEST BANCORP AND SUBSIDIARIES
Notes to Condensed Consolidated Financial Statements (Unaudited)

Revolving
Converted
Amortized Cost Basis (1)
Term Loans by Origination YearRevolvingto Term
December 31, 202220222021202020192018PriorLoansLoansTotal
(In thousands)
Commercial: Other
Commercial
Internal risk rating:
1-2 High pass$3,591 $10,880 $12 $161 $$14 $20,958 $— $35,619 
3-4 Pass84,930 278,208 54,542 41,908 47,771 87,645 454,438 3,684 1,053,126 
5 Special mention7,038 796 184 695 1,526 2,858 47 89 13,233 
6-8 Classified— 806 — 319 (3)2,653 1,600 1,098 6,473 
Total$95,559 $290,690 $54,738 $43,083 $49,297 $93,170 $477,043 $4,871 $1,108,451 
Current YTD period:
Gross charge-offs$— $209 $— $$— $2,537 $1,906 $474 $5,127 
Consumer
Internal risk rating:
1-2 High pass$34 $30 $$— $$— $854 $— $926 
3-4 Pass62,868 226,084 20,798 48,542 31,693 37,838 8,739 — 436,562 
5 Special mention1,252 3,490 464 1,126 278 238 60 — 6,908 
6-8 Classified47 — — 59 79 74 — 16 275 
Total$64,201 $229,604 $21,269 $49,727 $32,051 $38,150 $9,653 $16 $444,671 
Current YTD period:
Gross charge-offs$309 $529 $237 $728 $— $354 $— $$2,164 
Total Loans and Leases
Internal risk rating:
1-2 High pass$233,682 $313,224 $86,906 $286,631 $192,647 $313,707 $1,090,668 $503 $2,517,968 
3-4 Pass6,976,510 7,087,371 2,139,818 1,647,953 1,245,216 1,854,908 4,305,696 149,159 25,406,631 
5 Special mention49,532 70,976 15,719 146,955 102,544 125,087 50,364 5,082 566,259 
6-8 Classified19,295 37,336 5,797 1,688 30,222 20,585 1,600 1,748 118,271 
Total$7,279,019 $7,508,907 $2,248,240 $2,083,227 $1,570,629 $2,314,287 $5,448,328 $156,492 $28,609,129 
Current YTD period:
Gross charge-offs$558 $1,889 $1,149 $808 $2,258 $3,298 $3,596 $481 $14,037 
____________________
(1)    Amounts with negative balances are loans with zero principal balances and deferred loan origination fees.
31



PACWEST BANCORP AND SUBSIDIARIES
Notes to Condensed Consolidated Financial Statements (Unaudited)

On January 1, 2023, the Company adopted ASU 2022-02, "Financial Instruments - Credit Losses (Topic 326): Troubled Debt Restructurings and Vintage Disclosures", which eliminated the accounting guidance for troubled debt restructurings while enhancing disclosure requirements for certain loan refinancing and restructurings by creditors when a borrower is experiencing financial difficulty. This guidance was applied on a prospective basis. The following table presents our loan modifications made to borrowers experiencing financial difficulty by type of modification for the period indicated with related amortized cost balances as of the date indicated:
Three Months Ended March 31, 2023
Loan Modifications
Balances (Amortized Cost Basis) at
March 31, 2023
Combination - Term
Extension andCombination - Term
Interest RateExtension andTotal Loan
Term ExtensionPayment DelayReductionPayment DelayModifications
% of% of% of% of% of
LoanLoanLoanLoanLoan
PortfolioPortfolioPortfolioPortfolioPortfolio
BalanceClassBalanceClassBalanceClassBalanceClassBalanceClass
(Dollars in thousands)
Real estate
mortgage:
Other
residential$12,716 0.2 %$— — %$— — %$— — %$12,716 0.2 %
Commercial:
Venture
capital— — %— — %— — %613 — %613 — %
Other
commercial2,057 0.2 %45 — %— — %— — %2,102 0.2 %
Consumer— — %— — %— %— — %— %
Total$14,773 $45 $$613 $15,434 
The following tables present the financial effect of our loan modifications made to borrowers experiencing financial difficulty by type of modification for the period indicated:
Three Months Ended March 31, 2023
Term Extension - Financial Effect
Real estate mortgage:
Other residentialExtended maturity by a weighted average seven months.
Commercial:
Other commercialExtended maturity by a weighted average 12 months.
Three Months Ended March 31, 2023
Payment Delay - Financial Effect
Commercial:
Other commercialProvided six months of reduced payments to borrowers without extending the loan term.
32



PACWEST BANCORP AND SUBSIDIARIES
Notes to Condensed Consolidated Financial Statements (Unaudited)

Three Months Ended March 31, 2023
Combination - Term Extension and Interest Rate Reduction
Consumer
Extended maturity by a weighted average 2 years and reduced weighted average contractual interest rate from 9.5% to 2.0%.
Three Months Ended March 31, 2023
Combination - Term Extension and Payment Delay
Commercial:
Venture capitalExtended maturity by a weighted average 11 months and provided 11 months of interest only payments to borrowers.
The following table presents the payment status of our loan modifications made during the period indicated with related amortized cost balances as of the date indicated:
Three Months Ended March 31, 2023
Loan Modifications
Payment Status (Amortized Cost Basis) at
March 31, 2023
30-89 Days90 or More Days
CurrentPast DuePast DueTotal
(In thousands)
Real estate mortgage:
Commercial$— $— $— $— 
Multi-family— — — — 
Other residential8,780 3,936 — 12,716 
Real estate construction and land:
Commercial— — — — 
Residential— — — — 
Commercial:
Asset-based— — — — 
Venture capital613 — — 613 
Other commercial2,102 — — 2,102 
Consumer— — 
Total$11,498 $3,936 $— $15,434 
TDRs are a result of rate reductions, term extensions, fee concessions, transfers to foreclosed assets, discounted loan payoffs, and debt forgiveness, or a combination thereof. The following table presents our troubled debt restructurings of loans held for investment by loan portfolio segment and class for the period indicated:
Three Months Ended March 31, 2022
Pre-Post-
ModificationModification
NumberOutstandingOutstanding
of RecordedRecorded
Troubled Debt RestructuringsLoansInvestmentInvestment
 (In thousands)
Real estate mortgage:
Multi-family$304 $— 
Commercial:
Other commercial13 1,074 1,074 
Total 14 $1,378 $1,074 
33



PACWEST BANCORP AND SUBSIDIARIES
Notes to Condensed Consolidated Financial Statements (Unaudited)

During the three months ended March 31, 2022, there were two other commercial loans totaling $78,000 restructured in the preceding 12-month period that subsequently defaulted.
Leases Receivable
We provide equipment financing to our customers primarily with operating and direct financing leases. For direct financing leases, lease receivables are recorded on the balance sheet but the leased equipment is not, although we generally retain legal title to the leased equipment until the end of each lease. Direct financing leases are stated at the net amount of minimum lease payments receivable, plus any unguaranteed residual value, less the amount of unearned income and net acquisition discount at the reporting date. Direct lease origination costs are amortized using the effective interest method over the life of the leases. Direct financing leases are subject to our accounting for allowance for loan and lease losses. See Note 8. Leases for information regarding operating leases where we are the lessor.
The following table provides the components of leases receivable income for the periods indicated:
Three Months Ended
March 31,
20232022
(In thousands)
Component of leases receivable income:
Interest income on net investments in leases$3,749 $2,388 
The following table presents the components of leases receivable as of the dates indicated:
March 31, 2023December 31, 2022
(In thousands)
Net Investment in Direct Financing Leases:
Lease payments receivable$235,396 $232,909 
Unguaranteed residual assets23,866 23,561 
Deferred costs and other1,781 1,815 
Aggregate net investment in leases$261,043 $258,285 
The following table presents maturities of leases receivable as of the date indicated:
March 31, 2023
(In thousands)
Period ending December 31,
2023$55,009 
202473,615 
202555,299 
202636,835 
202723,704 
Thereafter18,570 
Total undiscounted cash flows263,032 
Less: Unearned income(27,636)
Present value of lease payments$235,396 
34



PACWEST BANCORP AND SUBSIDIARIES
Notes to Condensed Consolidated Financial Statements (Unaudited)

Allowance for Loan and Lease Losses
The following tables present a summary of the activity in the allowance for loan and lease losses on loans and leases held for investment by loan portfolio segment for the periods indicated:
Three Months Ended March 31, 2023
Real Estate
Real EstateConstruction
Mortgageand LandCommercialConsumerTotal
(In thousands)
Allowance for Loan and Lease Losses:
Balance, beginning of period$87,309 $52,320 $52,849 $8,254 $200,732 
Charge-offs(9,835)— (137)(425)(10,397)
Recoveries200 — 975 45 1,220 
Net (charge-offs) recoveries(9,635)— 838 (380)(9,177)
Provision 31,809 2,714 (16,492)469 18,500 
Balance, end of period$109,483 $55,034 $37,195 $8,343 $210,055 
Ending Allowance by
Evaluation Methodology:
Individually evaluated $— $— $— $— $— 
Collectively evaluated $109,483 $55,034 $37,195 $8,343 $210,055 
Ending Loans and Leases by
Evaluation Methodology:
Individually evaluated $82,835 $— $2,616 $— $85,451 
Collectively evaluated 15,324,776 4,608,440 5,226,491 427,223 25,586,930 
Ending balance$15,407,611 $4,608,440 $5,229,107 $427,223 $25,672,381 
35



PACWEST BANCORP AND SUBSIDIARIES
Notes to Condensed Consolidated Financial Statements (Unaudited)

Three Months Ended March 31, 2022
Real Estate
Real EstateConstruction
Mortgageand LandCommercialConsumerTotal
(In thousands)
Allowance for Loan and Lease Losses:
Balance, beginning of period $98,624 $44,508 $48,718 $8,714 $200,564 
Charge-offs(168)— (2,833)(233)(3,234)
Recoveries163 149 1,735 21 2,068 
Net (charge-offs) recoveries (5)149 (1,098)(212)(1,166)
Provision (11,391)(1,009)9,436 964 (2,000)
Balance, end of period$87,228 $43,648 $57,056 $9,466 $197,398 
Ending Allowance by
Evaluation Methodology:
Individually evaluated $156 $— $1,023 $— $1,179 
Collectively evaluated $87,072 $43,648 $56,033 $9,466 $196,219 
Ending Loans and Leases by
Evaluation Methodology:
Individually evaluated $51,280 $6,515 $17,813 $— $75,608 
Collectively evaluated 12,457,784 3,217,201 8,096,882 504,597 24,276,464 
Ending balance$12,509,064 $3,223,716 $8,114,695 $504,597 $24,352,072 
The allowance for loan and lease losses increased by $9.3 million in the first quarter of 2023 to $210.1 million due primarily to a provision for loan and lease losses of $18.5 million driven by an increase in qualitative reserves for loans secured by commercial real estate and higher net charge-offs, offset partially by a decline in the balances of loans and leases held for investment. For additional information regarding the calculation of the allowance for loan and lease losses using the CECL methodology, including discussion of forecasts used to estimate the allowance, please see Note 1(j). Nature of Operations and Summary of Significant Accounting Policies - Allowance for Credit Losses on Loans and Leases Held for Investment of the Notes to Consolidated Financial Statements contained in "Item 8. Financial Statements and Supplementary Data" of the Form 10-K.
A loan is considered collateral-dependent, and is individually evaluated for reserve purposes, when the borrower is experiencing financial difficulty and repayment is expected to be provided substantially through the operation or sale of the collateral. The following table summarizes collateral-dependent loans held for investment by collateral type as of the following dates:
March 31, 2023December 31, 2022
RealBusiness RealBusiness
PropertyAssetsTotalPropertyAssetsTotal
(In thousands)
Real estate mortgage$81,541 $— $81,541 $90,485 $— $90,485 
Real estate construction and land— — — 1,402 — 1,402 
Commercial— 420 420 — 434 434 
     Total$81,541 $420 $81,961 $91,887 $434 $92,321 
36



PACWEST BANCORP AND SUBSIDIARIES
Notes to Condensed Consolidated Financial Statements (Unaudited)

Allowance for Credit Losses
The allowance for credit losses is the combination of the allowance for loan and lease losses and the reserve for unfunded loan commitments. The reserve for unfunded loan commitments is included within "Accrued interest payable and other liabilities" on the condensed consolidated balance sheets.
The following tables present a summary of the activity in the allowance for loan and lease losses and reserve for unfunded loan commitments for the periods indicated:
Three Months Ended
March 31, 2023
Allowance for Reserve forTotal
Loan and Unfunded LoanAllowance for
Lease LossesCommitmentsCredit Losses
(In thousands)
Balance, beginning of period $200,732 $91,071 $291,803 
Charge-offs(10,397)— (10,397)
Recoveries1,220 — 1,220 
Net charge-offs(9,177)— (9,177)
Provision18,500 (15,500)3,000 
Balance, end of period$210,055 $75,571 $285,626 

Three Months Ended
March 31, 2022
Allowance for Reserve forTotal
Loan and Unfunded LoanAllowance for
Lease LossesCommitmentsCredit Losses
(In thousands)
Balance, beginning of period$200,564 $73,071 $273,635 
Charge-offs(3,234)— (3,234)
Recoveries2,068 — 2,068 
Net charge-offs(1,166)— (1,166)
Provision (2,000)2,000 — 
Balance, end of period$197,398 $75,071 $272,469 
37



PACWEST BANCORP AND SUBSIDIARIES
Notes to Condensed Consolidated Financial Statements (Unaudited)

NOTE 5.  FORECLOSED ASSETS, NET
The following table summarizes foreclosed assets, net of the valuation allowance, as of the dates indicated:
March 31,
December 31,
Property Type20232022
(In thousands)
Commercial real estate$— $— 
Single-family residence2,135 5,022 
Total other real estate owned, net2,135 5,022 
Other foreclosed assets— — 
Total foreclosed assets, net$2,135 $5,022 
The following table presents the changes in foreclosed assets, net of the valuation allowance, for the period indicated:
Foreclosed
Assets, Net
(In thousands)
Balance, December 31, 2022$5,022 
Transfers to foreclosed assets from loans2,568 
Provision for losses(527)
Reductions related to sales(4,928)
Balance, March 31, 2023$2,135 
NOTE 6.  GOODWILL AND OTHER INTANGIBLE ASSETS, NET
Goodwill and other intangible assets arise from the acquisition method of accounting for business combinations. Goodwill and other intangible assets generated from business combinations and deemed to have indefinite lives are not subject to amortization and instead are tested for impairment annually at the reporting unit level unless a triggering event occurs thereby requiring an updated assessment. Our regular annual impairment assessment occurs in the fourth quarter. Goodwill represents the excess of the purchase price over the fair value of the net assets and other identifiable intangible assets acquired. Impairment exists when the carrying value of the goodwill exceeds the fair value of the reporting unit. An impairment loss would be recognized in an amount equal to that excess as a charge to "Noninterest expense" in the condensed consolidated statements of earnings.
The impact to banks triggered by the closure of two well-known regional banks caused a significant decline in bank stock prices in March 2023, including our stock price. These triggering events indicated that goodwill related to our single reporting unit may be impaired and resulted in us performing a goodwill impairment assessment in the first quarter of 2023. We applied the market approach using an average share price of the Company's stock and a control premium to determine the estimated fair value of the reporting unit. The control premium was based upon management's judgment using historical information of control premiums for completed bank acquisitions. As a result, we recorded a goodwill impairment charge of our entire goodwill balance of $1.4 billion in the first quarter of 2023 as the estimated fair value of equity was less than book value. This was a non-cash charge to earnings and had no impact on our regulatory capital ratios, cash flows, or liquidity position.
The following table presents the changes in the carrying amount of goodwill for the period indicated:
 Goodwill
 (In thousands)
Balance, December 31, 2022$1,376,736 
Impairment(1,376,736)
Balance, March 31, 2023$— 
38



PACWEST BANCORP AND SUBSIDIARIES
Notes to Condensed Consolidated Financial Statements (Unaudited)

Our other intangible assets with definite lives are CDI and CRI. CDI and CRI are amortized over their respective estimated useful lives and reviewed for impairment at least quarterly. The amortization expense represents the estimated decline in the value of the underlying deposits or customer relationships acquired.
The following table presents the changes in CDI and CRI and the related accumulated amortization for the periods indicated:
 Three Months Ended
March 31,
 20232022
 (In thousands)
Gross Amount of CDI and CRI:  
Balance, beginning of period$91,550 $133,850 
Fully amortized portion(750)— 
Balance, end of period90,800 133,850 
Accumulated Amortization:
Balance, beginning of period(60,169)(88,893)
Amortization expense(2,411)(3,649)
Fully amortized portion750 — 
Balance, end of period(61,830)(92,542)
Net CDI and CRI, end of period$28,970 $41,308 
The following table presents the estimated aggregate future amortization expense for our current CDI and CRI as of the date indicated:
March 31, 2023
(In thousands)
Period ending December 31,
2023$6,674 
20246,404 
20254,087 
20263,481 
20272,876 
Thereafter5,448 
Net CDI and CRI$28,970 
39



PACWEST BANCORP AND SUBSIDIARIES
Notes to Condensed Consolidated Financial Statements (Unaudited)

NOTE 7.  OTHER ASSETS
The following table presents the detail of our other assets as of the dates indicated:
March 31,
December 31,
Other Assets20232022
(In thousands)
Deferred tax asset, net
$342,557 $281,848 
LIHTC investments 329,216 328,555 
Cash surrender value of BOLI207,402 207,797 
Interest receivable173,209 157,109 
Operating lease ROU assets, net (1)
120,828 126,255 
Taxes receivable83,327 89,924 
SBIC investments 65,301 62,227 
Equity investments without readily determinable fair values64,387 63,280 
Prepaid expenses36,730 26,752 
Equity warrants (2)
3,978 4,048 
Equity investments with readily determinable fair values
Other receivables/assets176,533 148,834 
Total other assets$1,603,469 $1,496,630 
____________________
(1)    See Note 8. Leases for further details regarding the operating lease ROU assets.
(2)    See Note 10. Derivatives for information regarding equity warrants.
NOTE 8. LEASES
Operating Leases as a Lessee
Our lease expense is a component of "Occupancy expense" on our condensed consolidated statements of earnings. The following table presents the components of lease expense for the periods indicated:
Three Months Ended
March 31,
20232022
(In thousands)
Operating lease expense:
Fixed costs$7,748 $8,479 
Variable costs35 23 
Short-term lease costs357 364 
Sublease income(712)(1,076)
Net lease expense$7,428 $7,790 
The following table presents supplemental cash flow information related to leases for the periods indicated:
Three Months Ended
March 31,
20232022
(In thousands)
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows from operating leases$8,963 $8,839 
ROU assets obtained in exchange for lease obligations:
Operating leases$2,196 $17,301 
40



PACWEST BANCORP AND SUBSIDIARIES
Notes to Condensed Consolidated Financial Statements (Unaudited)

The following table presents supplemental balance sheet and other information related to operating leases as of the dates indicated:
March 31,December 31,
20232022
(Dollars in thousands)
Operating leases:
Operating lease right-of-use assets, net$120,828 $126,255 
Operating lease liabilities$142,027 $148,401 
Weighted average remaining lease term (in years)6.46.6
Weighted average discount rate2.54 %2.64 %
The following table presents the maturities of operating lease liabilities as of the date indicated:
March 31, 2023
(In thousands)
Period ending December 31,
2023$24,867 
202430,594 
202526,922 
202621,950 
202715,802 
Thereafter52,415 
Total operating lease liabilities172,550 
Less: Imputed interest(30,523)
Present value of operating lease liabilities$142,027 
Operating Leases as a Lessor
We provide equipment financing to our customers through operating leases where we facilitate the purchase of equipment leased to our customers. The equipment is shown on the condensed consolidated balance sheets as "Equipment leased to others under operating leases" and is depreciated to its estimated residual value at the end of the lease term, shown as "Leased equipment depreciation" in the condensed consolidated statements of earnings, according to our fixed asset accounting policy. We receive periodic rental income payments under the leases, which are recorded as "Noninterest Income" in the condensed consolidated statements of earnings. The equipment is tested periodically for impairment. No impairment was recorded on "Equipment leased to others under operating leases" during the three months ended March 31, 2023 and 2022.
The following table presents the rental payments to be received on operating leases as of the date indicated:
March 31, 2023
(In thousands)
Period ending December 31,
2023$39,565 
202450,938 
202540,715 
202634,486 
202726,154 
Thereafter79,739 
Total undiscounted cash flows$271,597 
41



PACWEST BANCORP AND SUBSIDIARIES
Notes to Condensed Consolidated Financial Statements (Unaudited)

NOTE 9.  BORROWINGS AND SUBORDINATED DEBT
Borrowings
The following table summarizes our borrowings as of the dates indicated:
March 31, 2023December 31, 2022
WeightedWeighted
AverageAverage
BalanceRateBalanceRate
(Dollars in thousands)
FHLB secured advances$5,450,000 5.07 %$1,270,000 4.62 %
Bank Term Funding Program4,910,000 4.38 %— — %
Repurchase agreement (1)
1,393,337 8.50 %— — %
Credit-linked notes128,375 15.24 %132,030 14.56 %
AFX short-term borrowings— — %250,000 4.68 %
FHLB unsecured overnight advance— — %112,000 4.37 %
Total borrowings$11,881,712 5.30 %$1,764,030 5.36 %
___________________
(1)    Balance is net of unamortized issuance costs of $17.9 million and $0.4 million of accrued exit fees. Rate calculation does not include the effects of issuance costs and exit fees.
The Bank has established secured and unsecured lines of credit under which it may borrow funds from time to time on a term or overnight basis from the FHLB, the FRBSF, and other financial institutions.
FHLB Secured Line of Credit. The Bank had secured financing capacity with the FHLB as of March 31, 2023 of $5.7 billion, collateralized by a blanket lien on $9.7 billion of qualifying loans and $133.4 million of securities. As of March 31, 2023, the balance outstanding was $5.5 billion, which consisted of various term advances with maturity dates ranging from April 2023 to August 2023. As of December 31, 2022, the balance outstanding was $1.3 billion, which consisted of an overnight advance and two term advances with maturity dates of January 2023 and February 2023.
FRBSF Secured Line of Credit. The Bank has a secured line of credit with the FRBSF. As of March 31, 2023, the Bank had secured borrowing capacity of $5.6 billion collateralized by liens covering $5.6 billion of qualifying loans and $1.4 billion of securities. As of March 31, 2023 and December 31, 2022, there were no balances outstanding.
FRBSF Bank Term Funding Program. In March of 2023, the Bank participated in the FRBSF Bank Term Funding Program. As of March 31, 2023, the Bank had secured borrowing capacity of $4.9 billion collateralized by the par value of pledged securities totaling $4.9 billion. As of March 31, 2023, the balance outstanding was $4.9 billion consisting of two term advances maturing in March 2024.
Repurchase Agreement. In March of 2023, the Bank entered into a repurchase agreement through which it borrowed $1.4 billion that was collateralized by loans with a principal balance of $2.1 billion. In connection with this borrowing, the Bank incurred $17.9 million of issuance costs and accrued $0.4 million in exit fees. The repurchase agreement is to be repaid with collections on the underlying loans. The repurchase agreement has a term of 18 months, under which the interest rate is 8.50% for amounts outstanding during the first nine months and 8.75% for amounts outstanding during the last nine months. The Bank has the option to pay off the repurchase agreement after the first nine months. Per the terms of the agreement, a reserve account equal to 1.5% of the facility commitment amount was deposited with a third-party bank to be used for certain purposes. Any remaining funds will be returned to PacWest at the time of payoff or maturity of the facility.
Credit-Linked Notes. The notes were issued in five classes, each with an interest rate of SOFR plus a spread that ranges from 8.00% to 13.25%, with a weighted average spread of 10.68% at March 31, 2023. The notes are linked to the credit risk of an approximately $2.59 billion reference pool of previously purchased single-family residential mortgage loans at March 31, 2023. The notes are due June 27, 2052. Principal payments on the notes are based only on scheduled and unscheduled principal that is actually collected on these loans. The notes are reported at fair value of $128.4 million at March 31, 2023. See Note 12. Fair Value Option for additional information.
42



PACWEST BANCORP AND SUBSIDIARIES
Notes to Condensed Consolidated Financial Statements (Unaudited)

Federal Funds Arrangements with Commercial Banks. As of March 31, 2023, the Bank had unsecured lines of credit of $130.0 million in the aggregate with several correspondent banks for the purchase of overnight funds, subject to availability of funds. These lines are renewable annually and have no unused commitment fees. As of March 31, 2023 and December 31, 2022, there were no balances outstanding. The Bank is a member of the AFX, through which it may either borrow or lend funds on an overnight or short-term basis with a group of pre-approved commercial banks. The availability of funds changes daily. As of March 31, 2023, there was no balance outstanding. As of December 31, 2022, the balance outstanding was $250.0 million, which consisted of $250.0 million in overnight borrowings.
Subordinated Debt
The following table summarizes the terms of each issuance of subordinated debt outstanding as of the dates indicated:
March 31, 2023December 31, 2022DateMaturityRate Index
SeriesBalance
Rate (1)
Balance
Rate (1)
IssuedDate
(Quarterly Reset) (6)
(Dollars in thousands)
Subordinated notes, net (2)
$395,262 3.25 %$395,134 3.25 %4/30/20215/1/2031
Fixed rate (3)
Trust V10,310 8.01 %10,310 7.84 %8/15/20039/17/2033
3-month LIBOR + 3.10
Trust VI10,310 7.92 %10,310 7.82 %9/3/20039/15/2033
3-month LIBOR + 3.05
Trust CII5,155 7.86 %5,155 7.69 %9/17/20039/17/2033
3-month LIBOR + 2.95
Trust VII61,856 7.55 %61,856 7.16 %2/5/20044/23/2034
3-month LIBOR + 2.75
Trust CIII20,619 6.56 %20,619 6.46 %8/15/20059/15/2035
3-month LIBOR + 1.69
Trust FCCI16,495 6.47 %16,495 6.37 %1/25/20073/15/2037
3-month LIBOR + 1.60
Trust FCBI10,310 6.42 %10,310 6.32 %9/30/200512/15/2035
3-month LIBOR + 1.55
Trust CS 2005-182,475 6.82 %82,475 6.72 %11/21/200512/15/2035
3-month LIBOR + 1.95
Trust CS 2005-2128,866 6.75 %128,866 6.36 %12/14/20051/30/2036
3-month LIBOR + 1.95
Trust CS 2006-151,545 6.75 %51,545 6.36 %2/22/20064/30/2036
3-month LIBOR + 1.95
Trust CS 2006-251,550 6.75 %51,550 6.36 %9/27/200610/30/2036
3-month LIBOR + 1.95
Trust CS 2006-3 (4)
27,938 4.52 %27,592 3.66 %9/29/200610/30/2036
3-month EURIBOR + 2.05
Trust CS 2006-4 16,470 6.75 %16,470 6.36 %12/5/20061/30/2037
3-month LIBOR + 1.95
Trust CS 2006-5 6,650 6.75 %6,650 6.36 %12/19/20061/30/2037
3-month LIBOR + 1.95
Trust CS 2007-239,177 6.75 %39,177 6.36 %6/13/20077/30/2037
3-month LIBOR + 1.95
Total subordinated debt934,988 5.27 %934,514 5.08 %
Acquisition discount (5)
(66,173)(67,427)
Net subordinated debt$868,815 $867,087 
___________________
(1)    Rates do not include the effects of discounts and issuance costs.
(2)    Net of unamortized issuance costs of $4.7 million.
(3)    Interest rate is fixed until May 1, 2026, when it changes to a floating rate and resets quarterly at a benchmark rate plus 252 basis points.
(4)    Denomination is in Euros with a value of €25.8 million.
(5)    Amount represents the fair value adjustment on trust preferred securities assumed in acquisitions.
(6)    Interest rate will transition to term SOFR plus the relevant spread adjustment as the applicable benchmark upon the cessation of LIBOR on June 30, 2023.
43



PACWEST BANCORP AND SUBSIDIARIES
Notes to Condensed Consolidated Financial Statements (Unaudited)

NOTE 10.  DERIVATIVES
The following table presents the U.S. dollar notional amounts and fair values of our derivative instruments included in the condensed consolidated balance sheets as of the dates indicated:
March 31, 2023December 31, 2022
NotionalFairNotionalFair
Derivatives Not Designated As Hedging InstrumentsAmountValueAmountValue
(In thousands)
Derivative Assets:
Interest rate contracts$107,894 $5,174 $108,451 $6,013 
Foreign exchange contracts37,029 1,851 37,029 1,801 
Interest rate and economic contracts144,923 7,025 145,480 7,814 
Equity warrant assets18,120 3,978 18,209 4,048 
Total$163,043 $11,003 $163,689 $11,862 
Derivative Liabilities:
Interest rate contracts$107,894 $5,026 $108,451 $5,825 
Foreign exchange contracts37,029 152 37,029 81 
Total$144,923 $5,178 $145,480 $5,906 
For further information regarding our derivatives, see Note 1. Nature of Operations and Summary of Significant Accounting Policies of the Notes to Consolidated Financial Statements contained in "Item 8. Financial Statements and Supplementary Data" of the Form 10-K.
NOTE 11.  COMMITMENTS AND CONTINGENCIES
The following table presents a summary of commitments described below as of the dates indicated:
March 31,
December 31,
20232022
(In thousands)
Loan commitments to extend credit$9,776,789 $11,110,264 
Standby letters of credit321,651 320,886 
Total$10,098,440 $11,431,150 
The Company is a party to financial instruments with off-balance sheet risk in the normal course of business to meet the financing needs of its customers. These financial instruments include commitments to extend credit and standby letters of credit. Those instruments involve, to varying degrees, elements of credit risk in excess of the amount recognized in the condensed consolidated balance sheets. The contract or notional amounts of those instruments reflect the extent of involvement that the Company has in particular classes of financial instruments.
Commitments to extend credit are contractual agreements to lend to our customers when customers are in compliance with their contractual credit agreements and when customers have contractual availability to borrow under such agreements. Commitments generally have fixed expiration dates or other termination clauses and may require payment of a fee. Since many of the commitments are expected to expire without being drawn upon, the total commitment amounts do not necessarily represent future cash requirements. The estimated exposure to loss from these commitments is included in the reserve for unfunded loan commitments, which amounted to $75.6 million at March 31, 2023 and $91.1 million at December 31, 2022.
44



PACWEST BANCORP AND SUBSIDIARIES
Notes to Condensed Consolidated Financial Statements (Unaudited)

Standby letters of credit are conditional commitments issued by the Company to guarantee the performance of a customer to a third party. We provide standby letters of credit in conjunction with several of our lending arrangements and property lease obligations. Most guarantees expire within one year from the date of issuance. If a borrower defaults on its commitments subject to any letter of credit issued under these arrangements, we would be required to meet the borrower's financial obligation but would seek repayment of that financial obligation from the borrower. In some cases, borrowers have pledged cash and investment securities as collateral under these arrangements.
In addition, we invest in SBICs that call for capital contributions up to an amount specified in the partnership agreements, and in CRA-related loan pools. As of March 31, 2023 and December 31, 2022, we had commitments to contribute capital to these entities totaling $75.4 million and $76.9 million.
The following table presents the years in which commitments are expected to be paid for our commitments to contribute capital to SBICs and CRA-related loan pools as of the date indicated:
March 31, 2023
(In thousands)
Period ending December 31,
2023$42,043 
202433,383 
Total $75,426 
Legal Matters
In the ordinary course of our business, the Company is party to various legal actions, which we believe are incidental to the operation of our business. The outcome of such legal actions and the timing of ultimate resolution are inherently difficult to predict. In the opinion of management, based upon currently available information, any resulting liability, in addition to amounts already accrued, and taking into consideration insurance which may be applicable, would not have a material adverse effect on the Company’s financial statements or operations. The range of any reasonably possible liabilities is also not significant.
NOTE 12.  FAIR VALUE OPTION
The Company may elect to report financial instruments and certain other items at fair value on an instrument-by-instrument basis with changes in fair value reported in earnings. The election is made upon the initial recognition of an eligible financial asset, financial liability, or firm commitment or when certain specified reconsideration events occur. The fair value election may not otherwise be revoked once an election is made. The changes in fair value are recorded in "Noninterest income" on the condensed consolidated statements of earnings. However, movements in debt valuation adjustments are reported as a component of "Accumulated other comprehensive (loss) income" on the condensed consolidated balance sheets. Debt valuation adjustments represent the portion of the total change in the fair value of a liability resulting from a change in the instrument-specific credit risk.
Fair Value Option for Certain Debt Liabilities
The Company has elected the fair value option for the credit-linked notes issued in September 2022. The Company elected the fair value option because these exposures are considered to be structured notes, which are financial instruments that contain embedded derivatives. The notes are linked to the credit risk of an approximately $2.59 billion reference pool of previously purchased single-family residential mortgage loans. The principal balance of the credit-linked notes was $129.5 million at March 31, 2023. The carrying value of the credit-linked notes at March 31, 2023 was the estimated fair value of $128.4 million. The changes in fair value are reported in "Noninterest income" on the condensed consolidated statements of earnings.
45



PACWEST BANCORP AND SUBSIDIARIES
Notes to Condensed Consolidated Financial Statements (Unaudited)

The following table presents the changes in fair value of the credit-linked notes for which the fair value option has been elected for the periods indicated:
 Three Months Ended
March 31,
Credit-Linked Notes20232022
 (In thousands)
Changes in fair value - gains (losses)$1,998 $— 
The following table provides information about the credit-linked notes carried at fair value as of the dates indicated:
March 31,December 31,
Credit-Linked Notes20232022
(In thousands)
Carrying value reported on the consolidated balance sheets$128,375 $132,030 
Aggregate unpaid principal balance in excess of (less than) fair value1,087 (911)

46



PACWEST BANCORP AND SUBSIDIARIES
Notes to Condensed Consolidated Financial Statements (Unaudited)

NOTE 13.  FAIR VALUE MEASUREMENTS
The Company uses fair value to measure certain assets and liabilities on a recurring basis, primarily securities available-for-sale, derivatives, and certain debt liabilities. For assets measured at the lower of cost or fair value, the fair value measurement criteria may or may not be met during a reporting period and such measurements are therefore considered “nonrecurring” for purposes of disclosing our fair value measurements. Fair value is used on a nonrecurring basis to adjust carrying values for individually evaluated loans and leases and other real estate owned and also to record impairment on certain assets, such as goodwill, CDI, and other long-lived assets.
For information regarding the valuation methodologies used to measure our assets recorded at fair value (under ASC Topic 820), and for estimating fair value for financial instruments not recorded at fair value (under ASC Topic 825, as amended by ASU 2016-01 and ASU 2018-03), see Note 1. Nature of Operations and Summary of Significant Accounting Policies, and Note 15. Fair Value Measurements, to the Consolidated Financial Statements of the Company's Form 10-K.
The Company also holds SBIC investments measured at fair value using the NAV per share practical expedient that are not required to be classified in the fair value hierarchy. At March 31, 2023, the fair value of these investments was $65.3 million.
The following tables present information on the assets and liabilities measured and recorded at fair value on a recurring basis as of the dates indicated:
Fair Value Measurements as of
March 31, 2023
Measured on a Recurring BasisTotalLevel 1Level 2Level 3
(In thousands)
Securities available-for-sale:
Agency residential MBS$2,249,080 $— $2,249,080 $— 
U.S. Treasury securities685,436 685,436 — — 
Agency commercial MBS491,681 — 491,681 — 
Agency residential CMOs455,682 — 455,682 — 
Municipal securities345,639 — 345,639 — 
Corporate debt securities289,794 — 275,015 14,779 
Private label residential CMOs164,403 — 164,403 — 
Collateralized loan obligations102,994 — 102,994 — 
Private label commercial MBS25,535 — 25,535 — 
Asset-backed securities22,457 — 22,457 — 
SBA securities15,906 — 15,906 — 
Total securities available-for-sale$4,848,607 $685,436 $4,148,392 $14,779 
Equity investments with readily determinable fair values$$$— $— 
Derivatives (1):
Equity warrants 3,978 — — 3,978 
Interest rate and economic contracts7,025 — 7,025 — 
Derivative liabilities 5,178 — 5,178 — 
Credit-linked notes128,375 — — 128,375 
47



PACWEST BANCORP AND SUBSIDIARIES
Notes to Condensed Consolidated Financial Statements (Unaudited)

Fair Value Measurements as of
December 31, 2022
Measured on a Recurring BasisTotalLevel 1Level 2Level 3
(In thousands)
Securities available-for-sale:
Agency residential MBS$2,242,042 $— $2,242,042 $— 
U.S. Treasury securities670,070 670,070 — — 
Agency commercial MBS487,606 — 487,606 — 
Agency residential CMOs457,063 — 457,063 — 
Municipal securities339,326 — 339,326 — 
Corporate debt securities311,905 — 311,905 — 
Private label residential CMOs166,724 — 166,724 — 
Collateralized loan obligations102,261 — 102,261 — 
Private label commercial MBS26,827 — 26,827 — 
Asset-backed securities22,413 — 22,413 — 
SBA securities17,250 — 17,250 — 
Total securities available-for-sale$4,843,487 $670,070 $4,173,417 $— 
Equity investments with readily determinable fair values$$$— $— 
Derivatives (1):
Equity warrants 4,048 — — 4,048 
Interest rate and economic contracts7,814 — 7,814 — 
Derivative liabilities 5,906 — 5,906 — 
Credit-linked notes132,030 — — 132,030 
____________________
(1)    For information regarding derivative instruments, see Note 10. Derivatives.
During the three months ended March 31, 2023, there was a $1,000 transfer from Level 3 equity warrants to Level 1 equity investments with readily determinable fair values measured on a recurring basis. There was also an $18.0 million transfer of corporate debt securities from Level 2 to Level 3 during the three months ended March 31, 2023.
The following table presents information about quantitative inputs and assumptions used to determine the fair values provided by our third party pricing service for our Level 3 corporate debt securities available-for-sale measured at fair value on a recurring basis as of the date indicated:
March 31, 2023
Corporate Debt Securities
Input or
Weighted
Range
Average
Unobservable Inputsof Inputs
Input (1)
Spread to 10 Year Treasury
4.2% - 7.7%
5.9%
Discount rates
7.7% - 11.2%
9.4%
____________________
(1)    Unobservable inputs for corporate debt securities were weighted by the relative fair values of the instruments.
48



PACWEST BANCORP AND SUBSIDIARIES
Notes to Condensed Consolidated Financial Statements (Unaudited)

The following table presents information about quantitative inputs and assumptions used in the modified Black-Scholes option pricing model to determine the fair value for our Level 3 equity warrants measured at fair value on a recurring basis as of the date indicated:
March 31, 2023
Equity Warrants
Weighted
RangeAverage
Unobservable Inputsof Inputs
Input (1)
Volatility
22.7% - 104.0%
27.9%
Risk-free interest rate
3.6% - 4.9%
3.9%
Remaining life assumption (in years)
0.08 - 5.00
3.27
____________________
(1)    Unobservable inputs for equity warrants were weighted by the relative fair values of the instruments.
The following table summarizes activity for our Level 3 private label commercial MBS available-for-sale, and equity warrants and credit-linked notes measured at fair value on a recurring basis for the period indicated:
Corporate Equity Credit-Linked
Debt SecuritiesWarrantsNotes
                                          (In thousands)
Balance, December 31, 2022$— $4,048 $132,030 
Total included in earnings— (333)(1,998)
Total included in other comprehensive income (loss)(3,221)— — 
Issuances— 283 — 
Principal payments— — (1,657)
Transfer from Level 218,000 — 
Exercises and settlements — (19)— 
Transfers to Level 1 (equity investments with readily
determinable fair values)— (1)— 
Balance, March 31, 2023$14,779 $3,978 $128,375 
Unrealized net gains (losses) for the period included in other
comprehensive income for securities held at quarter-end$(3,221)
The following tables present assets measured at fair value on a non-recurring basis as of the dates indicated:
Fair Value Measurement as of
March 31, 2023
Measured on a Non-Recurring BasisTotalLevel 1Level 2Level 3
(In thousands)
Individually evaluated loans and leases $23,673 $— $23,152 $521 
Total non-recurring$23,673 $— $23,152 $521 


Fair Value Measurement as of
December 31, 2022
Measured on a Non-Recurring BasisTotalLevel 1Level 2Level 3
(In thousands)
Individually evaluated loans and leases $34,077 $— $28,065 $6,012 
OREO47 — 47 — 
Total non-recurring$34,124 $— $28,112 $6,012 
49



PACWEST BANCORP AND SUBSIDIARIES
Notes to Condensed Consolidated Financial Statements (Unaudited)

The following table presents losses recognized on assets measured on a nonrecurring basis for the periods indicated:
Three Months Ended
Losses on Assets March 31,
Measured on a Non-Recurring Basis20232022
(In thousands)
Individually evaluated loans and leases$4,911 $434 
Total losses$4,911 $434 
The following table presents the valuation methodology and unobservable inputs for Level 3 assets measured at fair value on a nonrecurring basis as of the date indicated:
March 31, 2023
ValuationUnobservableInput or
Weighted
Asset
Fair Value
TechniqueInputsRange
Average
(Dollars in thousands)
Individually evaluated
loans and leases521Third party appraisalsNo discounts
Total non-recurring Level 3$521
The following tables present carrying amounts and estimated fair values of certain financial instruments as of the dates indicated:
March 31, 2023
Carrying
Estimated Fair Value
AmountTotalLevel 1Level 2Level 3
(In thousands)
Financial Assets:
Cash and due from banks$218,830 $218,830 $218,830 $— $— 
Interest-earning deposits in financial institutions6,461,306 6,461,306 6,461,306 — — 
Securities available-for-sale4,848,607 4,848,607 685,436 4,148,392 14,779 
Securities held-to-maturity2,273,650 2,157,056 176,629 1,945,900 34,527 
Investment in FHLB stock147,150 147,150 — 147,150 — 
Loans held for sale2,796,208 2,807,699 — 2,807,699 — 
Loans and leases held for investment, net25,462,326 24,138,162 — 23,152 24,115,010 
Equity investments with readily determinable fair values— — 
Equity warrants3,978 3,978 — — 3,978 
Interest rate and economic contracts7,025 7,025 — 7,025 — 
Servicing rights1,409 1,409 — — 1,409 
Financial Liabilities:
Retail non-maturity deposits19,230,293 19,230,293 — 19,230,293 — 
Wholesale non-maturity deposits2,028,676 2,028,676 — 2,028,676 — 
Time deposits6,928,592 6,945,479 — 6,945,479 — 
Borrowings11,881,712 11,899,375 4,910,000 5,450,000 1,539,375 
Subordinated debt868,815 823,002 — 823,002 — 
Derivative liabilities5,178 5,178 — 5,178 — 
50



PACWEST BANCORP AND SUBSIDIARIES
Notes to Condensed Consolidated Financial Statements (Unaudited)


December 31, 2022
Carrying
Estimated Fair Value
AmountTotalLevel 1Level 2Level 3
(In thousands)
Financial Assets:
Cash and due from banks$212,273 $212,273 $212,273 $— $— 
Interest-earning deposits in financial institutions2,027,949 2,027,949 2,027,949 — — 
Securities available-for-sale4,843,487 4,843,487 670,070 4,173,417 — 
Securities held-to-maturity2,269,135 2,110,472 171,700 1,938,772 — 
Investment in FHLB stock34,290 34,290 — 34,290 — 
Loans held for sale65,076 65,501 — 65,501 — 
Loans and leases held for investment, net28,408,397 26,627,985 — 28,065 26,599,920 
Equity investments with readily determinable fair values— — 
Equity warrants4,048 4,048 — — 4,048 
Interest rate and economic contracts7,814 7,814 — 7,814 — 
Servicing rights633 633 — — 633 
Financial Liabilities:
Retail non-maturity deposits26,561,129 26,561,129 — 26,561,129 — 
Wholesale non-maturity deposits2,637,362 2,637,362 — 2,637,362 — 
Time deposits4,737,843 4,700,054 — 4,700,054 — 
Borrowings1,764,030 1,764,037 882,000 750,007 132,030 
Subordinated debt867,087 870,534 — 870,534 — 
Derivative liabilities5,906 5,906 — 5,906 — 
Limitations
Fair value estimates are made at a specific point in time and are based on relevant market information and information about the financial instrument. These estimates do not reflect income taxes or any premium or discount that could result from offering for sale at one time the Company’s entire holdings of a particular financial instrument. Because no market exists for a portion of the Company’s financial instruments, fair value estimates are based on what management believes to be reasonable judgments regarding expected future cash flows, current economic conditions, risk characteristics of various financial instruments, and other factors. These estimated fair values are subjective in nature and involve uncertainties and matters of significant judgment and therefore cannot be determined with precision. Changes in assumptions could significantly affect the estimates. Since the fair values have been estimated as of March 31, 2023, the amounts that will actually be realized or paid at settlement or maturity of the instruments could be significantly different.
51



PACWEST BANCORP AND SUBSIDIARIES
Notes to Condensed Consolidated Financial Statements (Unaudited)

NOTE 14.  EARNINGS PER COMMON SHARE
The following table presents the computations of basic and diluted net earnings per common share for the periods indicated:
Three Months Ended
March 31,
20232022
(Dollars in thousands, except per share data)
Basic Earnings Per Common Share:
Net (loss) earnings$(1,195,424)$120,128 
Less: Preferred stock dividends(9,947)— 
Net (loss) earnings available to common stockholders(1,205,371)120,128 
Less: Earnings allocated to unvested restricted stock(1)
(319)(2,037)
Net (loss) earnings allocated to common shares$(1,205,690)$118,091 
Weighted-average basic shares and unvested restricted
stock outstanding120,239 119,595 
Less: Weighted-average unvested restricted stock
outstanding(2,309)(2,246)
Weighted-average basic shares outstanding117,930 117,349 
Basic (loss) earnings per common share$(10.22)$1.01 
Diluted Earnings Per Common Share:
Net (loss) earnings allocated to common shares$(1,205,690)$118,091 
Weighted-average diluted shares outstanding117,930 117,349 
Diluted (loss) earnings per common share$(10.22)$1.01 
________________________
(1)    Represents cash dividends paid to holders of unvested restricted stock, net of forfeitures, plus undistributed earnings amounts available to holders of unvested restricted stock, if any.
52



PACWEST BANCORP AND SUBSIDIARIES
Notes to Condensed Consolidated Financial Statements (Unaudited)

NOTE 15. REVENUE FROM CONTRACTS WITH CUSTOMERS
Disaggregation of Revenue
The following table presents interest income and noninterest income, the components of total revenue, as disclosed in the condensed consolidated statements of earnings and the related amounts which are from contracts with customers within the scope of ASC Topic 606, "Revenue from Contracts with Customers," for the periods indicated. As illustrated here, substantially all of our revenue is specifically excluded from the scope of ASC Topic 606.
Three Months Ended March 31,
20232022
TotalRevenue fromTotalRevenue from
RecordedContracts withRecordedContracts with
RevenueCustomersRevenueCustomers
(In thousands)
Total Interest Income$517,788 $— $322,904 $— 
Noninterest Income:
   Service charges on deposit accounts3,573 3,573 3,571 3,571 
   Other commissions and fees10,344 4,432 11,580 3,773 
   Leased equipment income13,857 — 13,094 — 
   Gain on sale of loans2,962 — 60 — 
   (Loss) gain on sale of securities— — 104 — 
   Dividends and (losses) gains on equity securities1,098 — (11,375)— 
   Warrant income(333)— 629 — 
   Other income4,890 269 3,155 (2)
      Total noninterest income36,391 8,274 20,818 7,342 
Total Revenue$554,179 $8,274 $343,722 $7,342 
The following table presents revenue from contracts with customers based on the timing of revenue recognition for the periods indicated:
Three Months Ended
March 31,
20232022
(In thousands)
Products and services transferred at a point in time$4,352 $3,926 
Products and services transferred over time3,922 3,416 
Total revenue from contracts with customers$8,274 $7,342 
Contract Balances
The following table provides information about receivables, contract assets, and contract liabilities from contracts with customers as of the dates indicated:
March 31, 2023December 31, 2022
(In thousands)
Receivables, which are included in "Other assets"$1,278 $1,403 
Contract liabilities, which are included in "Accrued interest payable and other liabilities"$470 $488 
Contract liabilities relate to advance consideration received from customers for which revenue is recognized over the life of the contract. The change in contract liabilities for the three months ended March 31, 2023 due to revenue recognized that was included in the contract liability balance at the beginning of the period was $18,000.
53



PACWEST BANCORP AND SUBSIDIARIES
Notes to Condensed Consolidated Financial Statements (Unaudited)

NOTE 16.  STOCKHOLDERS' EQUITY
Stock-Based Compensation
At the annual meeting of stockholders held on May 11, 2021, the Company's stockholders approved the Amended and Restated PacWest Bancorp 2017 Stock Incentive Plan (the “Amended and Restated 2017 Plan”). The Company’s Amended and Restated 2017 Plan permits stock-based compensation awards to officers, directors, employees, and consultants and will remain in effect until December 31, 2026. The Amended and Restated 2017 Plan authorizes grants of stock-based compensation instruments to issue up to 6,650,000 shares. As of March 31, 2023, there were 1,951,831 shares available for grant under the Amended and Restated 2017 Plan.
Restricted Stock
Restricted stock amortization totaled $5.0 million and $7.6 million for the three months ended March 31, 2023 and 2022. Such amounts are included in "Compensation expense" on the condensed consolidated statements of earnings. The amount of unrecognized compensation expense related to unvested TRSAs and PRSUs as of March 31, 2023 totaled $67.4 million.
Time-Based Restricted Stock Awards
At March 31, 2023, there were 2,207,618 shares of unvested TRSAs outstanding. TRSAs generally vest ratably over a service period of three or four years from the date of the grant or immediately upon death of an employee. Compensation expense related to TRSAs is based on the fair value of the underlying award on the grant date and is recognized over the vesting period using the straight-line method.
Performance-Based Restricted Stock Units
At March 31, 2023, there were 656,049 units of unvested PRSUs that have been granted. The PRSUs will vest only if performance goals with respect to certain financial metrics are met over a three-year performance period. The shares underlying the PRSUs are not considered issued and outstanding until they vest. PRSUs are granted and initially expensed based on a target number. The number of shares that will ultimately vest based on actual performance will range from zero to a maximum of either 150% or 200% of target.
Compensation expense related to PRSUs is based on the fair value of the underlying award on the grant date and is amortized over the vesting period using the straight-line method unless it is determined that: (1) attainment of the financial metrics is less than probable, in which case a portion or all of the amortization is suspended, or (2) attainment of the financial metrics is improbable, in which case a portion or all of the previously recognized amortization is reversed and also suspended. If it is determined that attainment of a financial measure higher than target is probable, the amortization will increase to up to 150% or 200% of the target amortization amount. Annual PRSU expense may vary during the three-year performance period based upon changes in management's estimate of the number of shares that may ultimately vest. In the case where the performance target for the PRSU is based on a market condition (such as total shareholder return), the amortization is neither reversed nor suspended if it is subsequently determined that the attainment of the performance target is less than probable or improbable and the employee continues to meet the service requirement of the award.
Preferred Stock
At March 31, 2023, our preferred stock of $498.5 million represents 20,530,000 depositary shares (the “Depositary Shares”), each representing a 1/40th ownership interest in a share of the Company’s 7.75% fixed rate reset non-cumulative, non-convertible, perpetual preferred stock, Series A, par value $0.01 per share (the “Series A preferred stock”), with a liquidation preference of $1,000 per share of Series A preferred stock (equivalent to $25.00 per Depositary Share). The Series A preferred stock qualifies as Tier 1 capital for purposes of regulatory capital calculations. The Series A preferred stock is perpetual and has no maturity date.

54



PACWEST BANCORP AND SUBSIDIARIES
Notes to Condensed Consolidated Financial Statements (Unaudited)

Dividends on the Series A preferred stock are not cumulative or mandatory. If the Company’s Board of Directors does not declare a dividend on the Series A preferred stock in respect of a dividend period, then no dividend shall be deemed to be payable for such dividend period or be cumulative, and the Company will have no obligation to pay any dividend for that dividend period, whether or not the Board of Directors declares a dividend on the Series A preferred stock or any other class or series of its capital stock for any future dividend period. Additionally, so long as any share of Series A preferred stock remains outstanding, unless dividends on all outstanding shares of Series A preferred stock for the most recently completed dividend period have been paid in full or declared and a sum sufficient for the payment thereof has been set aside for payment, no dividend shall be declared or paid or set aside for payment and no distribution shall be declared or made or set aside for payment on the Company’s common stock.
NOTE 17.  RECENTLY ISSUED ACCOUNTING STANDARDS
EffectiveEffect on the Financial Statements
StandardDescriptionDateor Other Significant Matters
ASU 2022-03, Fair Value Measurement (Topic 820): Fair Value Measurement of Equity Securities Subject to Contractual Sale Restrictions
This standard clarifies that a contractual sale restriction is not considered in measuring an equity security at fair value. The standard also clarifies that an entity cannot recognize a contractual sale restriction as a separate unit of account, such as a contra-asset or liability. The standard requires new disclosures for all entities with equity securities subject to contractual sales restrictions. Additionally, early adoption is permitted.

January 1, 2024
The Company does not take into account contractual sale restrictions in determining the fair value of its equity securities. The Company expects that this standard will not have a material impact on its consolidated financial statements.
 
EffectiveEffect on the Financial Statements
StandardDescriptionDateor Other Significant Matters
ASU 2023-02, Investments - Equity Method and Joint Ventures (Topic 323): Accounting for Investments in Tax Credit Structures Using the Proportional Amortization Method (a consensus of the Emerging Issues Task Force)
This standard expands the proportional amortization method to account for investments in all tax credit structures. That accounting method was previously allowed only for low-income housing tax credit ("LIHTC") investments, but now is available, by election, to all community development tax credit investment reporting that meets five conditions. Under the new guidance, reporting entities can make accounting policy elections on a tax-credit-program-by-tax-credit-program basis, rather than for individual investments or at the reporting entity level. Additionally, early adoption is permitted.

January 1, 2024
The Company is evaluating the impact of this standard on its consolidated financial statements.
 


55



PACWEST BANCORP AND SUBSIDIARIES
Notes to Condensed Consolidated Financial Statements (Unaudited)

NOTE 18.  SUBSEQUENT EVENTS
Common Stock Dividends
On May 5, 2023, the Company announced that the Board of Directors had declared a quarterly cash dividend of $0.01 per common share. The cash dividend is payable on May 31, 2023 to stockholders of record at the close of business on May 15, 2023.
Preferred Stock Dividends
On May 5, 2023, the Company announced that the Board of Directors had declared a quarterly cash dividend of $0.4845 per Depositary Share. The cash dividend is payable on June 1, 2023 to stockholders of record at the close of business on May 15, 2023.
Loans Transferred to Held For Sale and Loan Sales
Through May 5, 2023, we transferred $384 million of loans to held for sale and recognized charge-offs of $12.2 million to record these loans at the lower of cost or their estimated market value. We completed sales of $431 million of loans through May 5, 2023, and recorded net gains on these sales of $0.1 million.
Loans Pledged as Collateral
On May 10, 2023, the Company pledged an additional $5.1 billion of loans to the FRB which resulted in additional borrowing capacity of $3.9 billion under our existing discount window borrowing facility, and results in immediately-available liquidity (on-balance sheet liquidity and unused borrowing capacity) of $15.0 billion. Borrowings under the discount window program can range in length from overnight to up to 90 days.
The Company has evaluated events that have occurred subsequent to March 31, 2023 and have concluded there are no other subsequent events that would require recognition in the accompanying condensed consolidated financial statements.

56


ITEM 2. MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS
Forward-Looking Information
This Form 10-Q contains certain “forward-looking statements” about the Company and its subsidiaries within the meaning of the Private Securities Litigation Reform Act of 1995, including certain plans, strategies, goals, and projections and including statements about our expectations regarding our operating expenses, profitability, allowance for loan and lease losses, net interest margin, net interest income, deposit growth, loan and lease portfolio growth and production, acquisitions, maintaining capital adequacy, liquidity, goodwill, and interest rate risk management. All statements contained in this Form 10-Q that are not clearly historical in nature are forward-looking, and the words “anticipate,” “assume,” “intend,” “believe,” “forecast,” “expect,” “estimate,” “plan,” “continue,” “will,” “should,” “look forward” and similar expressions are generally intended to identify forward-looking statements. All forward-looking statements (including statements regarding future financial and operating results and future transactions and their results) involve risks, uncertainties and contingencies, many of which are beyond our control, which may cause actual results, performance, or achievements to differ materially from anticipated results, performance or achievements. Actual results could differ materially from those contained or implied by such forward-looking statements for a variety of factors, including without limitation:
weaker than expected general business and economic conditions, including a recession, could adversely affect the Company’s revenues, the values of its assets and liabilities, negatively impact loan and deposit growth, and may impact our borrowers ability to repay their loans;
the impact of bank failures or other adverse developments at other banks on general investor sentiment regarding the stability and liquidity of banks, the safety of deposits, and depositor behavior;
compression of the net interest margin due to changes in the interest rate environment, forward yield curves, loan products offered, spreads on newly originated loans and leases, changes in our asset or liability mix, and/or changes to the cost of deposits and borrowings;
our ability to compete effectively against other financial service providers in our markets;
continued deterioration in general business and economic conditions, uncertainty in U.S. fiscal monetary policy, including the interest rate policies of the Federal Reserve Board, and volatility and disruption in credit and capital markets could adversely affect the Company's revenues and the value of its assets and liabilities, lead to a tightening of credit, and increase stock price volatility;
changes in credit quality and the effect of credit quality and the current expected credit loss accounting standard on our provision for credit losses and allowance for credit losses;
our ability to attract deposits and other sources of funding or liquidity, particularly in a rising or high interest rate environment, and the quality and composition of our deposits;
our ability to efficiently manage our liquidity;
the need to increase capital for strategic or regulatory reasons;
impact of the benchmark interest rate reform in the U.S. including the transition away from the U.S. dollar London Inter-bank Offering Rate ("LIBOR") to alternative reference rates;
reduced demand for our services due to strategic or regulatory reasons or reduced demand for our products due to legislative changes such as new rent control laws;
our ability to successfully execute on initiatives relating to enhancements of our technology infrastructure, including client-facing systems and applications;
legislative or regulatory requirements or changes, including an increase of capital requirements, and increased political and regulatory uncertainty;
the impact on our reputation and business from our interactions with business partners, counterparties, service providers and other third parties;
the impact of climate change, public health issues, natural or man-made disasters such as wildfires, droughts and earthquakes, all of which are particularly common in California;
higher than anticipated increases in operating expenses;
57


lower than expected dividends paid from the Bank to the holding company;
the effectiveness of our risk management framework and quantitative models;
the costs and effects of legal, compliance, and regulatory actions, changes and developments, including the impact of adverse judgments or settlements in litigation, the initiation and resolution of regulatory or other governmental inquiries or investigations, and/or the results of regulatory examinations or reviews;
the impact of changes made to tax laws or regulations affecting our business, including the disallowance of tax benefits by tax authorities and/or changes in tax filing jurisdictions or entity classifications; and
our success at managing risks involved in the foregoing items and all other risk factors described in our audited consolidated financial statements, and other risk factors described in this Form 10-Q and other documents filed or furnished by PacWest with the SEC.
All forward-looking statements included in this Form 10-Q are based on information available at the time the statement is made. We are under no obligation to (and expressly disclaim any such obligation to) update or alter our forward-looking statements, whether as a result of new information, future events or otherwise except as required by law.
Overview
PacWest Bancorp, a Delaware corporation, is a bank holding company registered under the BHCA and headquartered in Los Angeles, California, with an executive office in Denver, Colorado. Our principal business is to serve as the holding company for our wholly-owned subsidiary, Pacific Western Bank. References to "Pacific Western" or the "Bank" refer to Pacific Western Bank together with its wholly-owned subsidiaries. References to "we," "us," or the "Company" refer to PacWest Bancorp together with its subsidiaries on a consolidated basis. When we refer to "PacWest" or to the "holding company," we are referring to PacWest Bancorp, the parent company, on a stand-alone basis.
The Bank is a relationship-based community bank focused on providing business banking and treasury management services to small, middle-market, and venture-backed businesses. The Bank offers a broad range of loan and lease and deposit products and services through full-service branches throughout California and in Durham, North Carolina and Denver, Colorado, and loan production offices around the country.
In managing the top line of our business, we focus on loan growth, loan yield, deposit cost, and net interest margin. Net interest income, on a year-to-date basis in 2023, accounted for 88.5% of net revenue (net interest income plus noninterest income).
At March 31, 2023, the Company had total assets of $44.3 billion, including $28.5 billion of total loans and leases, net of deferred fees, $4.8 billion of securities available-for-sale, $2.3 billion of securities held-to-maturity, and $6.5 billion of interest-earning deposits in financial institutions compared to $41.2 billion of total assets at December 31, 2022, including $28.7 billion of total loans and leases, net of deferred fees, $4.8 billion of securities available-for-sale, $2.3 billion securities held-to-maturity, and $2.0 billion of interest-earning deposits in financial institutions. The $3.1 billion increase in total assets since year-end was due primarily to a $4.4 billion increase in interest-earning deposits in financial institutions, offset mainly by a $1.4 billion decrease in goodwill. See "- Recent Events" for discussion regarding the changes in total assets and total liabilities during the three months ended March 31, 2023.
At March 31, 2023, the Company had total liabilities of $41.5 billion, including total deposits of $28.2 billion and borrowings of $11.9 billion, compared to $37.3 billion of total liabilities at December 31, 2022, including $33.9 billion of total deposits and $1.8 billion borrowings. The $4.3 billion increase in total liabilities since year-end was due mainly to an increase of $10.1 billion in borrowings, partially offset by a $5.7 billion decrease in deposits.
At March 31, 2023, the Company had total stockholders' equity of $2.8 billion compared to $4.0 billion at December 31, 2022. The $1.2 billion decrease in stockholders' equity since year-end was due mainly to the net loss of $1.2 billion. Our consolidated common equity Tier 1 (CET1), Tier 1 capital and Total capital ratios increased to 9.21%, 11.15%, and 14.21% at March 31, 2023 due primarily to positive adjusted earnings combined with a decrease in risk-weighted assets.

58


Recent Events
Impact of Two Bank Closures
During the first quarter of 2023, the closure of two large regional banks resulted in market volatility and a significant decline in regional bank stock prices, including our stock price. Due to the presence of a triggering event that indicated it was more likely than not that our goodwill was impaired, we performed a goodwill impairment assessment and recorded an impairment of $1.38 billion in the first quarter, as the estimated fair value of equity was less than book value as of March 31, 2023. This is a non-cash charge and had no impact on our regulatory capital ratios, cash flows, or liquidity position. The goodwill impairment charge resulted in a net loss of $1.21 billion in the first quarter.
The closure of the two banks, and the resulting customer fear of additional failures, resulted in an outflow of our deposits from accounts with greater than the FDIC's $250,000 insurance coverage amount. Total deposits decreased by $5.7 billion or 16.9% in the first quarter. Most of the decrease in deposits was from uninsured deposits, which resulted in the percentage of insured deposits to total deposits to increase from 48% at December 31, 2022 to 71% of total deposits at March 31, 2023. We responded to this banking crisis quickly by significantly increasing the amount of borrowings and wholesale/brokered deposits to enhance our liquidity position to prepare for any additional deposit outflows. This change in our funding mix in the month of March 2023 had a negative impact on our net interest margin which declined to 2.89% in the first quarter of 2023 compared to 3.41% in the fourth quarter of 2022. To improve our net interest margin we intend to complete strategic asset sales in the second quarter of 2023, which led to the transfer of our $2.7 billion Lender Finance loan portfolio to held for sale as of March 31, 2023. The proceeds of these asset sales, combined with reducing on-balance sheet cash to a more normalized level, will allow us to reduce the amount of higher-cost borrowings and/or brokered deposits and reduce the cost of our interest-bearing liabilities. Upon completion of these actions, we expect that our total assets will be closer to $35 billion.
In addition to the $1.38 billion goodwill impairment, we also recorded $8.5 million of reorganization costs comprised of severance and contract termination charges related to our operational efficiency initiative. These items are considered non-operating and non-recurring charges and, thus, in this document, you will see disclosures for adjusted earnings, adjusted earnings per share, adjusted return on average assets and adjusted return on average tangible common equity that exclude these items. This allows the reader to more readily compare results for the first quarter of 2023 with historical quarterly results. See the Non-GAAP Measurements section of this document for a reconciliation of these Non-GAAP adjusted measures to measures calculated in accordance with GAAP.
Impact of First Republic Bank Closure and Sale
On May 1, 2023, First Republic Bank was closed by regulators and immediately sold to J.P. Morgan Chase. This event heightened market and customer fears of additional bank failures, including PacWest. Our stock price declined approximately 41% from $10.15 on April 28, 2023, to $5.96 on May 5, 2023. On the afternoon of May 3, 2023, PacWest was featured prominently in the financial news headlines with reports that PacWest was "exploring all of its options and having talks with potential investors and partners". The news headlines increased our customers fears of the safety of their deposits. During the week ended May 5, 2023, our deposits declined approximately 9.5%, with a majority of that decline occurring on May 4th and May 5th after the news reports on the afternoon of May 3rd. PacWest funded this decline in deposits with available on-balance sheet liquidity. As of May 10, 2023, immediately-available liquidity (on-balance sheet liquidity and unused borrowing capacity) was $15.0 billion, which exceeded uninsured deposits of $5.2 billion, representing a coverage ratio of 288%.
These recent events, and the ongoing news coverage of these events, has increased certain risks and uncertainties related to our business and future prospects. See also the updated "Risk Factors" section disclosed in Part II, Item 1A of this quarterly report on Form 10-Q.
59


Key Performance Indicators
Among other factors, our operating results generally depend on the following key performance indicators:
The Level of Net Interest Income
Net interest income is the excess of interest earned on our interest-earning assets over the interest paid on our interest-bearing liabilities. Net interest margin is net interest income (annualized if related to a quarterly period) expressed as a percentage of average interest-earning assets. Tax equivalent net interest income is net interest income increased by an adjustment for tax-exempt interest on certain loans and investment securities based on a 21% federal statutory tax rate. Tax equivalent net interest margin is calculated as tax equivalent net interest income divided by average interest-earning assets.
Net interest income is affected by changes in both interest rates and the volume of average interest-earning assets and interest-bearing liabilities. Our primary interest-earning assets are loans and investment securities, and our primary interest-bearing liabilities are deposits and borrowings. Contributing to our strong net interest margin is our strong yield on loans and leases and concentration of lower cost retail non-maturity deposits. While our deposit balances will fluctuate depending on our customers’ liquidity and cash flow, market conditions, and competitive pressures, we seek to minimize the impact of these variances by attracting a high percentage of noninterest-bearing deposits. During 2023 and 2022, our net interest margin was negatively impacted because we accessed the wholesale funding market to replace outflows of retail non-maturity deposits.
Loan and Lease Production
We actively seek new lending opportunities under an array of lending products. Our lending activities include real estate mortgage loans, real estate construction and land loans, commercial loans and leases, and a small amount of consumer lending. Our commercial real estate loans and real estate construction loans are secured by a range of property types. Our commercial loans and leases portfolio is diverse and generally includes various asset-secured loans, equipment-secured loans and leases, venture capital loans to support venture capital firms’ operations and the operations of entrepreneurial and venture-backed companies during the various phases of their early life cycles, and secured business loans. In January 2023, we announced that we were slowing loan growth to preserve capital and strengthen our balance sheet, including winding down our premium finance and multi-family lending groups in the fourth quarter of 2022.
Our loan origination process emphasizes credit quality. On occasion, to augment our internal loan production, we have purchased loans such as multi-family loans from other banks, private student loans from third-party lenders, and, most recently, single-family residential mortgage loans. Prior to our acquisition of Civic, we also purchased loans from Civic. These loan purchases help us manage the concentrations in our portfolio as they diversify the geographic, interest-rate risk, credit risk, and product composition of our loan portfolio. Achieving net loan growth is subject to many factors, including maintaining strict credit standards, competition from other lenders, and borrowers that opt to prepay loans.
The Magnitude of Credit Losses
We emphasize credit quality in originating and monitoring our loans and leases, and we measure our success by the levels of our classified loans and leases, nonaccrual loans and leases, and net charge-offs. We maintain an allowance for credit losses on loans and leases, which is the sum of the allowance for loan and lease losses and the reserve for unfunded loan commitments. Provisions for credit losses are charged to operations as and when needed for both on and off-balance sheet credit exposures. Loans and leases that are deemed uncollectable are charged off and deducted from the allowance for loan and lease losses. Recoveries on loans and leases previously charged off are added to the allowance for loan and lease losses. The provision for credit losses on the loan and lease portfolio is based on our allowance methodology, which considers the impact of assumptions and is reflective of historical experience, economic forecasts viewed to be reasonable and supportable by management, the current loan and lease composition, and relative credit risks known as of the balance sheet date. For originated and acquired credit-deteriorated loans, a provision for credit losses may be recorded to reflect credit deterioration after the origination date or after the acquisition date, respectively.
60


We regularly review loans and leases to determine whether there has been any deterioration in credit quality resulting from borrower operations or changes in collateral value or other factors which may affect collectability of our loans and leases. Changes in economic conditions, such as the rate of economic growth, the unemployment rate, rate of inflation, increases in the general level of interest rates, declines in real estate values, changes in commodity prices, and adverse conditions in borrowers’ businesses, could negatively impact our borrowers and cause us to adversely classify loans and leases. An increase in classified loans and leases generally results in increased provisions for credit losses and an increased allowance for credit losses. Any deterioration in the commercial real estate market may lead to increased provisions for credit losses because our loans are concentrated in commercial real estate loans.
The Level of Noninterest Expense
Our noninterest expense includes fixed and controllable overhead, the largest components of which are compensation and occupancy expense. It also includes costs that tend to vary based on the volume of activity, such as loan and lease production and the number and complexity of foreclosed assets. We measure success in controlling both fixed and variable costs through monitoring of the efficiency ratio, which is calculated by dividing noninterest expense (less intangible asset amortization, net foreclosed assets expense (income), goodwill impairment, and acquisition, integration and reorganization costs) by net revenues (the sum of tax equivalent net interest income plus noninterest income, less gain (loss) on sale of securities and gain (loss) on sales of assets other than loans and leases).
The following table presents the calculation of our efficiency ratio for the periods indicated:
Three Months Ended
March 31,
Efficiency Ratio20232022
(Dollars in thousands)
Noninterest expense$1,573,003 $167,426 
Less:Intangible asset amortization2,411 3,649 
Foreclosed assets (income) expense, net363 (3,353)
Goodwill impairment1,376,736 — 
Acquisition, integration and reorganization costs8,514 — 
Noninterest expense used for efficiency ratio$184,979 $167,130 
Net interest income (tax equivalent)$281,625 $312,651 
Noninterest income 36,391 20,818 
Net revenues318,016 333,469 
Less:Gain (loss) on sale of securities— 104 
Net revenues used for efficiency ratio$318,016 $333,365 
Efficiency ratio58.2 %50.1 %
Critical Accounting Policies and Estimates
Our accounting policies are fundamental to understanding management’s discussion and analysis of results of operations and financial condition. We identify critical policies and estimates as those that require management to make particularly difficult, subjective, and/or complex judgments about matters that are inherently uncertain and because of the likelihood that materially different amounts would be reported under different conditions or using different assumptions. These policies and estimates relate to the allowance for credit losses on loans and leases held for investment, the carrying value of goodwill and other intangible assets, and the realization of deferred income tax assets and liabilities.
Our critical accounting policies and estimates are described in Item 7. Management’s Discussion and Analysis of Financial Condition and Results of Operations included in our Form 10-K.
61


Non-GAAP Measurements
We use certain non-GAAP financial measures to provide meaningful supplemental information regarding the Company’s operational performance and to enhance investors’ overall understanding of such financial performance. The methodology for determining these non-GAAP measures may differ among companies. We used the following non-GAAP measures in this Form 10-Q:
Return on average tangible common equity, tangible common equity ratio, and tangible book value per common share: Given that the use of these measures is prevalent among banking regulators, investors, and analysts, we disclose them in addition to the related GAAP measures of return on average equity, equity to assets ratio, and book value per common share, respectively. The reconciliations of these non-GAAP measurements to the GAAP measurements are presented in the following tables for and as of the periods presented.
Three Months Ended
March 31,
Return on Average Tangible Common Equity
20232022
(Dollars in thousands)
Net (loss) earnings $(1,195,424)$120,128 
(Loss) earnings before income taxes$(1,260,340)$162,109 
Add:Goodwill impairment1,376,736 — 
Add:Intangible asset amortization2,411 3,649 
Adjusted earnings before income taxes 118,807 165,758 
Adjusted income tax expense (1)
33,741 42,931 
Adjusted net earnings 85,066 122,827 
Less:Preferred stock dividends9,947 — 
Adjusted net earnings available to common stockholders$75,119 $122,827 
Average stockholders' equity$3,998,687 $3,847,481 
Less:Average intangible assets1,391,857 1,449,056 
Less:Average preferred stock 498,516 — 
Average tangible common equity$2,108,314 $2,398,425 
Return on average equity (2)
(121.24)%12.66 %
Return on average tangible common equity (3)
14.45 %20.77 %
___________________________________
(1)     Adjusted effective tax rate of 28.4% and 25.9% used for the three months ended March 31, 2023 and 2022, respectively.
(2)     Annualized net (loss) earnings divided by average stockholders' equity.
(3)     Annualized adjusted net earnings available to common stockholders divided by average tangible common equity.
62


Three Months Ended
Adjusted Return on Average March 31,March 31,
Tangible Common Equity20232022
(Dollars in thousands)
(Loss) earnings before income taxes$(1,260,340)$162,109 
Add: Goodwill impairment1,376,736 — 
Add: Intangible asset amortization2,411 3,649 
Add: Acquisition, integration, and reorganization costs8,514 — 
Adjusted earnings before income taxes127,321 165,758 
Adjusted income tax expense (1)
36,159 42,931 
Adjusted net earnings91,162 122,827 
Less: Preferred stock dividends9,947 — 
Adjusted net earnings available to common stockholders$81,215 $122,827 
Average stockholders' equity$3,998,687 $3,847,481 
Less: Average intangible assets1,391,857 1,449,056 
Less: Average preferred stock498,516 — 
Average tangible common equity$2,108,314 $2,398,425 
Adjusted return on average tangible common equity (2)
15.62 %20.77 %
___________________________________
(1)     Adjusted effective tax rate of 28.4% used for the three months ended March 31, 2023; effective tax rate of 25.9% used for three months ended March 31, 2022.
(2)     Annualized adjusted net earnings available to common stockholders divided by average tangible common equity.



63


Tangible Common Equity Ratio andMarch 31,December 31,
Tangible Book Value Per Common Share20232022
(Dollars in thousands, except per share data)
Stockholders’ equity$2,771,477 $3,950,531 
Less: Preferred stock 498,516 498,516 
Total common equity2,272,961 3,452,015 
Less: Intangible assets28,970 1,408,117 
Tangible common equity2,243,991 2,043,898 
Add: Accumulated other comprehensive loss (income)736,060 790,903 
Adjusted tangible common equity$2,980,051 $2,834,801 
Total assets$44,302,981 $41,228,936 
Less: Intangible assets28,970 1,408,117 
Tangible assets$44,274,011 $39,820,819 
Equity to assets ratio6.26 %9.58 %
Tangible common equity ratio (1)
5.07 %5.13 %
Tangible common equity ratio, excluding AOCI (2)
6.73 %7.12 %
Book value per common share (3)
$18.90 $28.71 
Tangible book value per common share (4)
$18.66 $17.00 
Tangible book value per common share, excluding AOCI (5)
$24.78 $23.58 
Common shares outstanding120,244,214 120,222,057 
_______________________________________ 
(1)    Tangible common equity divided by tangible assets.
(2)    Adjusted tangible common equity divided by tangible assets.
(3)    Total common equity divided by common shares outstanding.
(4)    Tangible common equity divided by common shares outstanding.
(5)    Adjusted tangible common equity divided by common shares outstanding.



64


Three Months Ended
Adjusted Earnings, Earnings Per March 31,March 31,
Share, and Return on Average Assets20232022
(Dollars in thousands)
(Loss) earnings before income taxes$(1,260,340)$162,109 
Add: Goodwill impairment1,376,736 — 
Add: Acquisition, integration, and reorganization costs8,514 — 
Adjusted earnings before income taxes124,910 162,109 
Adjusted income tax expense (1)
35,474 41,981 
Adjusted earnings89,436 120,128 
Less: Preferred stock dividends(9,947)— 
Adjusted earnings available to common stockholders79,489 120,128 
Less: Earnings allocated to unvested restricted stock(1,210)(2,037)
Adjusted earnings allocated to common shares$78,279 $118,091 
Weighted average shares outstanding$117,930 $117,349 
Adjusted diluted earnings per common share (2)
$0.66 $1.01 
Average assets$42,768,714 $39,883,304 
Adjusted return on average assets (3)
0.85 %1.22 %
___________________________________
(1)     Adjusted effective tax rate of 28.4% used for the three months ended March 31, 2023; effective tax rate of 25.9% used for three months ended March 31, 2022.
(2)     Adjusted earnings allocated to common shares divided by weighted average shares outstanding.
(3)    Annualized adjusted earnings divided by average assets.
65


Results of Operations
Earnings Performance
The following table presents performance metrics for the periods indicated:
Three Months Ended
March 31,
20232022
(Dollars in thousands, except per share data)
Earnings Summary:
Interest income$517,788 $322,904 
Interest expense(238,516)(14,187)
Net interest income279,272 308,717 
Provision for credit losses(3,000)— 
Noninterest income36,391 20,818 
Operating expense(187,753)(167,426)
Acquisition, integration and reorganization costs(8,514)— 
Goodwill impairment (1,376,736)— 
(Loss) earnings before income taxes(1,260,340)162,109 
Income tax benefit (expense)64,916 (41,981)
Net (loss) earnings (1,195,424)120,128 
Preferred stock dividends(9,947)— 
Net (loss) earnings available to common stockholders$(1,205,371)$120,128 
Per Common Share Data:
Diluted (loss) earnings per common share$(10.22)$1.01 
Book value per common share$18.90 $30.52 
Tangible book value per common share (1)
$18.66 $18.42 
Performance Ratios:
Return on average assets (11.34)%1.22 %
Return on average tangible common equity (1)
14.45 %20.77 %
Net interest margin (tax equivalent)2.89 %3.43 %
Yield on average loans and leases (tax equivalent)6.14 %4.66 %
Cost of average total deposits1.98 %0.07 %
Efficiency ratio58.2 %50.1 %
Capital Ratios (consolidated):
Common equity tier 1 capital ratio9.21 %8.64 %
Tier 1 capital ratio11.15 %9.07 %
Total capital ratio14.21 %12.27 %
Tier 1 leverage capital ratio8.33 %7.11 %
Risk-weighted assets$32,507,454 $30,297,312 
_____________________________
(1)    See "- Non-GAAP Measurements."
66


First Quarter of 2023 Compared to First Quarter of 2022
Net (loss) earnings available to common stockholders for the first quarter of 2023 was a loss of $1.205 billion, or a loss of $10.22 per diluted share, compared to net earnings available to common stockholders for the first quarter of 2022 of $120.1 million, or $1.01 per diluted share. The $1.325 billion decrease in net earnings available to common stockholders from the first quarter of 2022 was due mainly to a goodwill impairment recorded in the first quarter of 2023 of $1.377 billion. Excluding the goodwill impairment and $8.5 million of reorganization costs, adjusted earnings available to common stockholders in the first quarter of 2023 was $79.5 million, a decrease of $40.6 million from the $120.1 million in the first quarter of 2022. This $40.6 million decrease was comprised primarily of a $29.4 million decrease in net interest income, a $20.3 million increase in noninterest expense, and a $9.9 million increase in preferred stock dividends, partially offset by a $15.6 million increase in noninterest income and a $6.5 million decrease in adjusted income tax expense. The decrease in net interest income was due primarily to our interest-bearing liabilities repricing faster than our interest-bearing assets when interest rates rapidly increased over the last year. Also, the mix of our interest-bearing liabilities changed significantly in the first quarter of 2023 as the closure of two banks caused an outflow of lower-cost customer deposits, which were replaced with higher-cost borrowings and wholesale/brokered deposits. The increase in noninterest expense was due primarily to an $11.4 million increase in customer related expense (higher account analysis expense due to higher earnings credit rate), a $6.2 million increase in insurance and assessments expense (higher FDIC assessment due to higher assessment rate and higher assessment base), and a $3.7 million increase in foreclosed assets expense (first quarter of 2022 included a large gain on sale). The increase in preferred stock dividends is due to our preferred stock being issued in the second quarter of 2022 and there being no dividends in the first quarter of 2022. The increase in noninterest income is primarily due to an increase in dividends and gains on equity investments of $12.5 million as the first quarter of 2022 had losses of $11.4 million due to volatility in the equity market resulting from geopolitical tensions and inflationary pressures. The decrease in income tax expense is due to a decrease in adjusted earnings before taxes in the first quarter of 2023, partially offset by a higher effective tax rate as compared to the first quarter of 2022.
67


Net Interest Income
The following tables summarize the distribution of average assets, liabilities, and stockholders’ equity, as well as interest income and yields earned on average interest-earning assets and interest expense and rates paid on average interest-bearing liabilities, presented on a tax equivalent basis, for the periods indicated:
Three Months Ended
March 31, 2023March 31, 2022
Interest
Yields
Interest
Yields
Average
Income/
and
Average
Income/
and
Balance
Expense
Rates
Balance
Expense
Rates
(Dollars in thousands)
ASSETS:
Loans and leases (1)(2)(3)(4)
$28,583,265 $433,029 6.14 %$23,433,019 $269,521 4.66 %
Investment securities (2)(4)
7,191,362 44,246 2.50 %10,397,709 55,594 2.17 %
Deposits in financial institutions3,682,228 42,866 4.72 %3,083,159 1,723 0.23 %
Total interest‑earning assets (2)
39,456,855 520,141 5.35 %36,913,887 326,838 3.59 %
Other assets3,311,859 2,969,417 
Total assets$42,768,714 $39,883,304 
LIABILITIES AND
STOCKHOLDERS’ EQUITY:
Interest checking $7,089,102 55,957 3.20 %$7,094,623 1,776 0.10 %
Money market 8,932,059 56,224 2.55 %10,852,454 3,461 0.13 %
Savings 597,287 599 0.41 %642,709 39 0.02 %
Time 5,123,955 43,112 3.41 %1,278,609 932 0.30 %
Total interest‑bearing deposits21,742,403 155,892 2.91 %19,868,395 6,208 0.13 %
Borrowings5,289,429 69,122 5.30 %298,444 161 0.22 %
Subordinated debt867,637 13,502 6.31 %863,572 7,818 3.67 %
Total interest‑bearing liabilities27,899,469 238,516 3.47 %21,030,411 14,187 0.27 %
Noninterest‑bearing demand deposits
10,233,434 14,463,667 
Other liabilities637,124 541,745 
Total liabilities38,770,027 36,035,823 
Stockholders’ equity3,998,687 3,847,481 
Total liabilities and stockholders' equity$42,768,714 $39,883,304 
Net interest income (2)
$281,625 $312,651 
Net interest rate spread (2)
1.88 %3.32 %
Net interest margin (2)
2.89 %3.43 %
Total deposits (5)
$31,975,837 $155,892 1.98 %$34,332,062 $6,208 0.07 %
_____________________
(1)    Includes nonaccrual loans and leases and loan fees. Includes tax-equivalent adjustments related to tax-exempt interest on loans.
(2)    Tax equivalent.
(3)    Includes net loan premium amortization of $2.8 million and $5.7 million for the three months ended March 31, 2023 and 2022, respectively.
(4)    Includes tax-equivalent adjustments of $2.3 million and $1.8 million for the three months ended March 31, 2023 and 2022, respectively, related to tax-exempt income on loans.
Includes tax-equivalent adjustments of $9 thousand and $2.2 million for the three months ended March 31, 2023 and 2022, respectively, related to tax-exempt interest on investment securities. The federal statutory rate utilized was 21%.
(5)    Total deposits is the sum of interest-bearing deposits and noninterest-bearing demand deposits. The cost of total deposits is calculated as annualized interest expense on total deposits divided by average total deposits.
68


First Quarter of 2023 Compared to First Quarter of 2022
Net interest income decreased by $29.4 million to $279.3 million for the first quarter of 2023 compared to $308.7 million for the first quarter of 2022 due mainly to higher interest expense on deposits and borrowings partially offset by higher interest income on loans and leases and deposits in financial institutions. The increase in interest expense was due to a higher cost and balance of average interest-bearing liabilities. The increase in interest income on loans and leases was attributable to a higher average balance and higher yield on average loans and leases. The tax equivalent yield on average loans and leases was 6.14% for the first quarter of 2023, compared to 4.66% for the same quarter of 2022. The increase in interest income on deposits in financial institutions was due mainly to a higher rate paid on deposits at the Federal Reserve.
The tax equivalent NIM was 2.89% for the first quarter of 2023 compared to 3.43% for the comparable quarter last year. The decrease in the tax equivalent NIM was due mostly to a shift in our funding mix in the second half of March 2023 as we responded to the baking crisis to enhance liquidity and protect franchise value. Average borrowings as a percentage of average interest-bearing liabilities was 19% for the first quarter of 2023 compared to 1% for the first quarter of 2022. The additional borrowings are largely short-term in nature, which will allow us to normalize our funding mix over time as economic conditions stabilize. The tax-equivalent NIM was further impacted by a higher cost of total deposits and borrowings, offset partially by higher yields on loans and leases and deposits in financial institutions.
The cost of average total deposits was 1.98% for the first quarter of 2023 compared to 0.07% for the first quarter of 2022 due mainly to higher average balances and rates and a change in the mix of average deposits, resulting from a decrease in lower cost retail non-maturity deposits and an increase in higher cost retail and brokered time deposits.
Provision for Credit Losses
The following table sets forth the details of the provision for credit losses on loans and leases held for investment and held-to-maturity securities and information regarding credit quality metrics for the periods indicated:
Three Months Ended
March 31,
20232022
(Dollars in thousands)
Provision For Credit Losses:
Addition to (reduction in) allowance for loan and lease losses$18,500 $(2,000)
Addition to (reduction in) reserve for unfunded loan commitments(15,500)2,000 
Total loan-related provision $3,000 $— 
Addition to allowance for held-to-maturity securities— — 
Total provision for credit losses$3,000 $— 
Credit Quality Metrics:
Net charge-offs (recoveries) on loans and leases held for investment (1)
$9,177 $1,166 
Annualized net charge-offs (recoveries) to average loans and leases0.13 %0.02 %
At quarter-end:
Allowance for credit losses$285,626 $272,469 
Allowance for credit losses to loans and leases held for investment1.11 %1.12 %
Allowance for credit losses to nonaccrual loans and leases held for investment327.8 %409.5 %
Nonaccrual loans and leases held for investment $87,124 $66,538 
Nonaccrual loans and leases held for investment to loans and leases held for investment0.34 %0.27 %
______________________
(1)    See "- Balance Sheet Analysis - Allowance for Credit Losses on Loans and Leases Held for Investment" for detail of charge-offs and recoveries by loan portfolio segment, class, and subclass for the periods presented.
69


Provisions for credit losses are charged to earnings for the allowance for loan and lease losses, the reserve for unfunded loan commitments, and the allowance for credit losses on held-to-maturity securities. The provision for credit losses on our loans and leases held for investment is based on our allowance methodology and is an expense that, in our judgment, is required to maintain an adequate allowance for credit losses. For further details on our loan-related allowance for credit losses methodology, see “- Balance Sheet Analysis - Allowance for Credit Losses on Loans and Leases Held for Investment” contained herein.
First Quarter of 2023 Compared to First Quarter of 2022
The provision for credit losses increased by $3.0 million to a provision of $3.0 million for the first quarter of 2023 compared to no provision for the first quarter of 2022. During the first quarter of 2023, while loans and leases held for investment and unfunded loan commitments declined, a $3.0 million provision was recognized due to an increase in qualitative reserves for loans secured by commercial real estate and higher net charge-offs. During the first quarter of 2022, no provision was recorded as a result of improvements in both macro-economic forecast variables and loan portfolio credit quality metrics, offset by increased provisions for unfunded loan commitments and loan growth.
Certain circumstances may lead to increased provisions for credit losses on loans and leases in the future. Examples of such circumstances include deterioration in economic conditions and forecasts, an increased amount of classified and/or criticized loans and leases, and net loan and lease and unfunded commitment growth. Deterioration in economic conditions and forecasts include the rate of economic growth, the unemployment rate, the rate of inflation, changes in the general level of interest rates, changes in real estate values, and adverse conditions in borrowers’ businesses. See further discussion in “- Balance Sheet Analysis - Allowance for Credit Losses on Loans and Leases Held for Investment” contained herein.
Noninterest Income
The following table summarizes noninterest income by category for the periods indicated:
Three Months Ended
March 31,
Noninterest Income20232022
(In thousands)
Leased equipment income$13,857 $13,094 
Other commissions and fees10,344 11,580 
Service charges on deposit accounts3,573 3,571 
Gain on sale of loans and leases2,962 60 
Gain (loss) on sale of securities— 104 
Dividends and gains (losses) on equity investments1,098 (11,375)
Warrant income (333)629 
Other 4,890 3,155 
Total noninterest income$36,391 $20,818 
First Quarter of 2023 Compared to First Quarter of 2022
Noninterest income increased by $15.6 million to $36.4 million for the first quarter of 2023 compared to $20.8 million for the first quarter of 2022 due mainly to an increase of $12.5 million in dividends and gains (losses) on equity investments, a $2.9 million increase in gain on sale of loans and lease and a $1.7 million increase in other income. Dividends and gains (losses) on equity investments increased mostly due to losses of $11.4 million recorded in the first quarter of 2022 primarily due to volatility in equity markets resulting from geopolitical tensions and inflationary pressures. Gain on sale of loans and leases increased in the first quarter of 2023 due principally to higher levels of loan sale activity compared to the same period in 2022. The increase in other income was due primarily to a $2.0 million gain from the change in fair value of the credit-linked notes in the first quarter of 2023.
70


Noninterest Expense
The following table summarizes noninterest expense by category for the periods indicated:
Three Months Ended
March 31,
Noninterest Expense20232022
(In thousands)
Compensation$88,476 $92,240 
Customer related expense24,005 12,655 
Occupancy15,067 15,200 
Insurance and assessments11,717 5,490 
Data processing10,938 9,629 
Leased equipment depreciation9,375 9,189 
Loan expense6,524 5,157 
Other professional services6,073 5,954 
Intangible asset amortization2,411 3,649 
Foreclosed assets expense (income), net363 (3,353)
Other12,804 11,616 
Total operating expense187,753 167,426 
Acquisition, integration and reorganization costs8,514 — 
Goodwill impairment1,376,736 — 
Total noninterest expense$1,573,003 $167,426 
First Quarter of 2023 Compared to First Quarter of 2022
Noninterest expense increased by $1.406 billion to $1.573 billion for the first quarter of 2023 compared to $167.4 million for the first quarter of 2022 due mainly to a $1.377 billion goodwill impairment charge incurred in the first quarter of 2023. Excluding the goodwill impairment charge and acquisition, integration and reorganization costs, operating expenses increased by $20.3 million in the first quarter of 2023 as compared to the first quarter of 2022. This increase was due mainly to increases of $11.4 million in customer related expense and $6.2 million in insurance and assessments expense. The increase in customer related expense was due primarily to higher customer analysis expenses and reciprocal deposit fees. The increase in insurance and assessments expense was due to higher FDIC assessment expense attributable to the 2 basis point assessment rate increase effective January 1, 2023, and a higher assessment base as a result of the $1.6 billion increase in average assets in the first quarter of 2023.
Income Taxes
The effective tax rate for the first quarter of 2023 was 5.2% compared to 25.9% for the first quarter of 2022. Excluding goodwill impairment of $1.4 billion, the effective income tax rate for the first quarter of 2023 was 28.4%. The increase from the first quarter of 2022 was due primarily to higher disallowed interest expense in the first quarter of 2023. The Company's blended statutory tax rate for federal and state is 27.5%. Excluding goodwill impairment, the Company’s effective tax rate for the full year 2023 is currently estimated to be in the range of 28% to 30%.
71


Balance Sheet Analysis
Securities Available-for-Sale
The following table presents the composition and durations of our securities available-for-sale as of the dates indicated:
 March 31, 2023December 31, 2022
Fair
% of
DurationFair
% of
Duration
Security TypeValue
Total
(in years)Value
Total
(in years)
 (Dollars in thousands)
Agency residential MBS$2,249,080 46 %7.5 $2,242,042 46 %7.6 
U.S. Treasury securities685,436 14 %4.7 670,070 14 %4.9 
Agency commercial MBS491,681 10 %4.5 487,606 10 %4.7 
Agency residential CMOs455,682 10 %4.4 457,063 %4.4 
Municipal securities 345,639 %5.5 339,326 %5.6 
Corporate debt securities289,794 %2.0 311,905 %2.7 
Private label residential CMOs164,403 %5.9 166,724 %5.6 
Collateralized loan obligations102,994 %— 102,261 %— 
Private label commercial MBS25,535 %2.2 26,827 %2.3 
Asset-backed securities22,457 — %— 22,413 — %— 
SBA securities15,906 — %2.6 17,250 — %2.5 
Total securities available-for-sale$4,848,607 100 %5.7 $4,843,487 100 %5.9 
Effective June 1, 2022, the Company transferred $2.3 billion in fair value of municipal securities, agency commercial MBS, private label commercial MBS, U.S. Treasury securities, and corporate debt securities from available-for-sale to held-to-maturity. The unrealized losses on the transferred securities are being amortized over the expected remaining life of the securities in a manner consistent with the amortization of a premium or discount.
The following table shows the geographic composition of the majority of our available-for-sale municipal securities portfolio as of the date indicated:
March 31, 2023
Fair
% of
Municipal Securities by State
Value
Total
(Dollars in thousands)
Texas$121,365 35 %
California61,094 18 %
Oregon33,745 10 %
Washington24,393 %
Minnesota20,947 %
Delaware19,460 %
Florida18,384 %
Wisconsin12,491 %
Rhode Island10,705 %
Iowa6,861 %
Total of ten largest states329,445 95 %
 All other states16,194 %
Total municipal securities available-for-sale$345,639 100 %



72


Securities Held-to-Maturity
The following table presents the composition and durations of our securities held-to-maturity as of the date indicated:
 March 31, 2023December 31, 2022
Amortized
% of
DurationAmortized
% of
Duration
Security TypeCost
Total
(in years)Cost
Total
(in years)
 (Dollars in thousands)(Dollars in thousands)
Municipal securities $1,244,441 55 %8.8$1,243,443 55 %9.0
Agency commercial MBS428,995 19 %7.4427,411 19 %7.5
Private label commercial MBS346,976 15 %6.9345,825 15 %7.1
U.S. Treasury securities184,862 %7.4184,162 %7.5
Corporate debt securities69,876 %5.169,794 %5.8
Total securities held-to-maturity$2,275,150 100 %8.0$2,270,635 100 %8.2
The following table shows the geographic composition of the majority of our held-to-maturity municipal securities portfolio as of the date indicated:
March 31, 2023
Amortized
% of
Municipal Securities by State
Cost
Total
(Dollars in thousands)
California$308,496 25 %
Texas275,563 22 %
Washington190,088 15 %
Oregon78,170 %
Maryland64,883 %
Georgia55,389 %
Colorado49,159 %
Minnesota35,191 %
Tennessee30,861 %
Florida21,975 %
Total of ten largest states1,109,775 89 %
All other states134,666 11 %
Total municipal securities held-to-maturity$1,244,441 100 %
73


Loans and Leases Held for Investment
The following table presents the composition of our loans and leases held for investment, net of deferred fees, by loan portfolio segment, class, and subclass as of the dates indicated:
March 31, 2023December 31, 2022
% of
% of
Loan and Lease Portfolio
Balance
Total
Balance
Total
(Dollars in thousands)
Real Estate Mortgage:
Commercial real estate$2,493,081 10 %$2,537,629 %
SBA program628,241 %621,187 %
Hotel687,429 %688,015 %
Total commercial real estate mortgage3,808,751 15 %3,846,831 13 %
Multi-family5,523,320 21 %5,607,865 20 %
Residential mortgage2,862,952 11 %2,902,088 10 %
Investor-owned residential2,822,714 11 %2,886,828 10 %
Residential renovation389,874 %486,712 %
Total other residential real estate6,075,540 24 %6,275,628 22 %
Total real estate mortgage15,407,611 60 %15,730,324 55 %
Real Estate Construction and Land:
Commercial 910,327 %898,592 %
Residential3,698,113 14 %3,253,580 11 %
Total real estate construction and land (1)
4,608,440 18 %4,152,172 14 %
Total real estate 20,016,051 78 %19,882,496 69 %
Commercial:
Lender finance 157,340 %3,172,814 11 %
Equipment finance824,531 %908,141 %
Premium finance906,277 %861,006 %
Other asset-based180,179 %198,248 %
Total asset-based2,068,327 %5,140,209 18 %
Equity fund loans1,203,137 %1,356,428 %
Venture lending855,100 %676,874 %
Total venture capital2,058,237 %2,033,302 %
Secured business loans366,725 %347,660 %
Paycheck Protection Program7,718 — %10,192 — %
Other lending728,100 %750,599 %
Total other commercial1,102,543 %1,108,451 %
Total commercial5,229,107 20 %8,281,962 29 %
Consumer427,223 %444,671 %
Total loans and leases held for investment,
net of deferred fees$25,672,381 100 %$28,609,129 100 %
Total unfunded loan commitments$9,776,789 $11,110,264 
 ________________________________
(1)    Includes land and acquisition and development loans of $142.9 million at March 31, 2023 and $153.5 million at December 31, 2022.
74


The following table presents the geographic composition of our real estate loans held for investment, net of deferred fees, by the top 10 states and all other states combined (in the order presented for the current quarter-end) as of the dates indicated:
March 31, 2023December 31, 2022
% of
% of
Real Estate Loans by StateBalance
Total
Balance
Total
(Dollars in thousands)
California$10,753,125 54 %$10,832,550 55 %
Florida1,384,543 %1,360,163 %
Colorado1,109,555 %1,029,284 %
Texas930,654 %933,280 %
New York730,984 %666,238 %
Washington683,671 %689,873 %
Arizona561,130 %572,951 %
Nevada483,487 %511,485 %
Oregon436,890 %442,353 %
Georgia356,552 %361,577 %
Total of 10 largest states17,430,591 87 %17,399,754 88 %
All other states2,585,460 13 %2,482,742 12 %
Total real estate loans held for investment, net of deferred fees$20,016,051 100 %$19,882,496 100 %
The following table presents a roll forward of loans and leases held for investment, net of deferred fees, for the periods indicated:
Three Months Ended
Roll Forward of Loans and Leases Held for Investment, Net of Deferred Fees (1)
March 31, 2023
(In thousands)
Balance, beginning of period$28,609,129 
Additions:
Production468,671 
Disbursements1,622,898 
Total production and disbursements2,091,569 
Reductions:
Payoffs (1,021,652)
Paydowns(965,537)
Total payoffs and paydowns(1,987,189)
Sales(231,798)
Transfers to foreclosed assets(2,568)
Charge-offs(10,397)
Transfers to loans held for sale(2,796,365)
Total reductions(5,028,317)
Net increase(2,936,748)
Balance, end of period$25,672,381 
Weighted average rate on production (2)
8.44 %
_______________________________________ 
(1)    Includes direct financing leases but excludes equipment leased to others under operating leases.
(2)    The weighted average rate on production presents contractual rates on a tax equivalent basis and does not include amortized fees. Amortized fees added approximately 17 basis points to loan yields for the three months ended March 31, 2023.

75


Allowance for Credit Losses on Loans and Leases Held for Investment
The allowance for credit losses on loans and leases held for investment is the combination of the allowance for loan and lease losses and the reserve for unfunded loan commitments. The allowance for loan and lease losses is reported as a reduction of the amortized cost basis of loans and leases, while the reserve for unfunded loan commitments is included within "Accrued interest payable and other liabilities" on the consolidated balance sheets. The amortized cost basis of loans and leases does not include accrued interest receivable, which is included in "Other assets" on the consolidated balance sheets. The "Provision for credit losses" on the consolidated statement of earnings (loss) is a combination of the provision for loan and lease losses, the provision for unfunded loan commitments, and the provision for held-to-maturity debt securities.
Under the CECL methodology, expected credit losses reflect losses over the remaining contractual life of an asset, considering the effect of prepayments and available information about the collectability of cash flows, including information about relevant historical experience, current conditions, and reasonable and supportable forecasts of future events and circumstances. Thus, the CECL methodology incorporates a broad range of information in developing credit loss estimates.
For further information regarding the calculation of the allowance for credit losses on loans and leases held for investment using the CECL methodology, see Note 1. Nature of Operations and Summary of Significant Accounting Policies of the Notes to Consolidated Financial Statements contained in "Item 8. Financial Statements and Supplementary Data" of our Form 10-K.
In calculating our allowance for credit losses, we continued to consider higher inflation rates, rising interest rates, the risk of a recession, technical or otherwise, and the Russia-Ukraine war as well as any trailing impact of the COVID-19 pandemic in our process for estimating expected credit losses given the changes in economic forecasts and assumptions along with the uncertainty related to the severity and duration of the economic consequences resulting from such events. Our methodology and framework along with the 4-quarter reasonable and supportable forecast period and 2-quarter reversion period have remained consistent since the implementation of CECL on January 1, 2020. Certain management assumptions are reassessed every quarter based on current expectations for credit losses, while other assumptions are assessed and updated on at least an annual basis.
For the first quarter of 2023, we used the Moody’s March 2023 Baseline and S3 Downside 90th Percentile forecast scenarios for the calculation of our quantitative component. The weightings of the scenarios were consistent with the fourth quarter of 2022 and based on management’s current expectations for the economic forecast, acknowledging the risk of a near-term recession and inherent uncertainty, with a smaller weighting assigned to the S3 Downside scenario. Compared to the fourth quarter of 2022, the economic forecasts were slightly more favorable with decreases in the loan and leases held for investment and unfunded commitments resulting in a decrease to the allowance for credit losses partially offset by increases in qualitative adjustments for loans secured by commercial real estate.
As part of our allowance for credit losses methodology, we consistently incorporate the use of qualitative factors in determining the overall allowance for credit losses to capture risks that may not be adequately reflected in our quantitative models. During the first quarter of 2021, we added qualitative components that were based on management’s assessment of various qualitative factors such as economic conditions and collateral dependency. These qualitative components were primarily related to certain loan portfolios including hotels, retail, and office properties that were more directly affected by the COVID-19 pandemic and may react more slowly to the improvements in the general economic conditions. These sectors may see a slower economic recovery to pre-pandemic levels due to changes in consumer behavior such as less business travel due to more virtual meetings, more online shopping versus in person shopping, or the potential for more permanent shifts to remote or hybrid working arrangements. Additionally, small businesses in these sectors may face greater challenges once debt relief and PPP funding is exhausted. Throughout 2021 and 2022, these qualitative adjustments were updated based on evolving forecasts of property values and the pace of recovery for small businesses. During the first quarter of 2023, forecasted property values for office properties declined and, therefore, our qualitative adjustments were increased.
76


During the first quarter of 2023, while loans and leases held for investment and unfunded loan commitments declined, a $3 million provision was recognized due to an increase in qualitative reserves for loans secured by commercial real estate and higher net charge-offs. The loan-related allowance for credit losses as a percentage of loans and leases held for investment increased due to transferring $2.7 billion of Lender Finance loans with low historical loss rates to held for sale and increasing qualitative adjustments for loans secured by commercial real estate.
The use of different economic forecasts, whether based on different scenarios, the use of multiple or single scenarios, or updated economic forecasts and scenarios, can change the outcome of the calculations. In addition to the economic forecasts, there are numerous components and assumptions that are integral to the overall estimation of allowance for credit losses. As part of our allowance for credit losses process, sensitivity analyses are performed to assess the impact of how changing certain assumptions could impact the estimated allowance for credit losses. At times, these analyses can provide information to further assist management in making decisions on certain assumptions. We calculated alternative values for our March 31, 2023 ACL using various alternative forecast scenarios provided by Moody’s including the Moody’s S1 Upside 10th Percentile and S3 Downside 90th Percentile and the calculated amounts for the quantitative component differed from the probability-weighted multiple scenario forecast ranging from lower by 5.67% to higher by 22.45%. However, changing one assumption and not reassessing other assumptions used in the quantitative or qualitative process could yield results that are not reasonable or appropriate, hence all assumptions and information must be considered. From a sensitivity analysis perspective, changing key assumptions such as the macro-economic variable inputs from the economic forecasts, the reasonable and supportable forecast period, prepayment rates, loan segmentation, historical loss factors and/or periods, among others, would all change the outcome of the quantitative components of the allowance for credit losses. Those results would then need to be assessed from a qualitative perspective potentially requiring further adjustments to the qualitative component to arrive at a reasonable and appropriate allowance for credit losses.
The determination of the allowance for credit losses is complex and highly dependent on numerous models, assumptions, and judgments made by management. Management's current expectation for credit losses on loans and leases held for investment as quantified in the allowance for credit losses considers the impact of assumptions and is reflective of historical credit experience, economic forecasts viewed to be reasonable and supportable, current loan and lease composition, and relative credit risks known as of the balance sheet date.
Management believes the allowance for credit losses is appropriate for the current expected credit losses in our loan and lease portfolio and associated unfunded loan commitments, and the credit risk ratings and inherent loss rates currently assigned are reasonable and appropriate as of the reporting date. It is possible that others, given the same information, may at any point in time reach different conclusions that could result in a significant impact to the Company's financial statements.
The following table presents information regarding the allowance for credit losses on loans and leases held for investment as of the dates indicated:
March 31,
December 31,
Allowance for Credit Losses Data
20232022
(Dollars in thousands)
Allowance for loan and lease losses$210,055 $200,732 
Reserve for unfunded loan commitments75,571 91,071 
Total allowance for credit losses$285,626 $291,803 
Allowance for loan and lease losses to loans and leases held for investment0.82 %0.70 %
Allowance for credit losses to loans and leases held for investment1.11 %1.02 %
77


The following table presents the changes in our allowance for credit losses on loans and leases held for investment for the periods indicated:
Three Months Ended
March 31,
Allowance for Credit Losses Roll Forward
20232022
(Dollars in thousands)
Balance, beginning of period $291,803 $273,635 
Provision for credit losses:
Addition to (reduction in) allowance for loan and lease losses18,500 (2,000)
(Reduction in) addition to reserve for unfunded loan commitments(15,500)2,000 
Total provision for credit losses3,000 — 
Loans and leases charged off:
Real estate mortgage(9,835)(168)
Real estate construction and land— — 
Commercial(137)(2,833)
Consumer(425)(233)
Total loans and leases charged off(10,397)(3,234)
Recoveries on loans charged off:
Real estate mortgage200 163 
Real estate construction and land— 149 
Commercial975 1,735 
Consumer45 21 
Total recoveries on loans charged off 1,220 2,068 
Net charge-offs(9,177)(1,166)
Balance, end of period$285,626 $272,469 
Annualized net charge-offs to
average loans and leases0.13 %0.02 %
78


The following table presents charge-offs by loan portfolio segment, class, and subclass for the periods indicated:
Three Months Ended
March 31,
Allowance for Credit Losses Charge-offs
20232022
(In thousands)
Real Estate Mortgage:
Commercial real estate$6,926 $— 
SBA program— 113 
Hotel— 55 
Total commercial real estate mortgage6,926 168 
Multi-family— — 
Residential mortgage— — 
Investor-owned residential1,811 — 
Residential renovation1,098  
Total other residential real estate2,909 — 
Total real estate mortgage9,835 168 
Real Estate Construction and Land:
Commercial— — 
Residential — — 
Total real estate construction and land— — 
Total real estate9,835 168 
Commercial:
Lender finance — — 
Equipment finance— — 
Premium finance— — 
Other asset-based— — 
Total asset-based— — 
Equity fund loans— — 
Venture lending— — 
Total venture capital— — 
Secured business loans82 244 
Paycheck Protection Program— — 
Other lending55 2,589 
Total other commercial137 2,833 
Total commercial137 2,833 
Consumer425 233 
Total charge-offs$10,397 $3,234 
79


The following table presents recoveries by portfolio segment, class, and subclass for the periods indicated:
Three Months Ended
March 31,
Allowance for Credit Losses Recoveries 20232022
(In thousands)
Real Estate Mortgage:
Commercial real estate$— $— 
SBA program187 12 
Hotel— — 
Total commercial real estate mortgage187 12 
Multi-family— — 
Residential mortgage151 
Investor-owned residential10 — 
Residential renovation— 
Total other residential real estate13 151 
Total real estate mortgage200 163 
Real Estate Construction and Land:
Commercial — 149 
Residential — — 
Total real estate construction and land— 149 
Total real estate200 312 
Commercial:
Lender finance — — 
Equipment finance— 163 
Premium finance— — 
Other asset-based231 92 
Total asset-based231 255 
Equity fund loans— — 
Venture lending363 122 
Total venture capital363 122 
Secured business loans20 30 
Paycheck Protection Program— — 
Other lending361 1,328 
Total other commercial381 1,358 
Total commercial975 1,735 
Consumer45 21 
Total recoveries$1,220 $2,068 
80


Deposits
The following table presents the balance of each major category of deposits as of the dates indicated:
March 31, 2023December 31, 2022
% of
% of
Deposit CompositionBalance
Total
Balance
Total
(Dollars in thousands)
Noninterest-bearing demand $7,030,759 25 %$11,212,357 33 %
Interest checking5,307,413 19 %6,990,377 20 %
Money market6,220,203 22 %7,780,758 23 %
Savings671,918 %577,637 %
Total retail non-maturity deposits19,230,293 68 %26,561,129 78 %
Wholesale non-maturity deposits2,028,676 %2,637,362 %
Total non-maturity deposits21,258,969 75 %29,198,491 86 %
Retail time deposits2,502,914 %2,434,414 %
Brokered time deposits4,425,678 16 %2,303,429 %
Total time deposits6,928,592 25 %4,737,843 14 %
Total deposits$28,187,561 100 %$33,936,334 100 %
During the three months ended March 31, 2023, total deposits decreased by $5.7 billion, or 16.9%, to $28.2 billion at March 31, 2023 due primarily to a decrease of $7.3 billion, or 27.6%, in retail non-maturity deposits and a decrease of $608.7 million in wholesale non-maturity deposits, offset partially by an increase of $2.2 billion in time deposits. At March 31, 2023, retail non-maturity deposits totaled $19.2 billion, or 68% of total deposits, including $7.0 billion of noninterest-bearing demand deposits, or 25% of total deposits.
The following table presents the composition of our deposit portfolio by division as of the dates indicated:
March 31, 2023December 31, 2022
% of
% of
Increase
Deposit CompositionBalance
Total
Balance
Total
(Decrease)
(Dollars in thousands)
Community Banking$14,917,027 53 %$17,466,726 52 %$(2,549,699)
Venture Banking6,584,554 23 %11,296,574 33 %(4,712,020)
Wholesale Deposits6,685,980 24 %5,173,034 15 %1,512,946 
Total deposits$28,187,561 100 %$33,936,334 100 %$(5,748,773)
As of March 31, 2023, FDIC-insured deposits represented approximately 71% of total deposits, including accounts eligible for pass-through insurance, up from 48% as of December 31, 2022. The Bank’s spot deposit rates were 2.32% at March 31, 2023, up from 1.71% at December 31, 2022.
The following table presents time deposits based on the $250,000 FDIC insured limit as of the dates indicated:
March 31, 2023December 31, 2022
Time DepositsBalanceBalance
(In thousands)
Time deposits $250,000 and under$5,811,787 $3,198,434 
Time deposits over $250,0001,116,805 1,539,409 
Total time deposits$6,928,592 $4,737,843 
81


The following table summarizes the maturities of time deposits as of the date indicated:
Time Deposits
$250,000
Over
March 31, 2023
and Under
$250,000
Total
(In thousands)
Maturities:
Due in three months or less$1,588,860 $347,362 $1,936,222 
Due in over three months through six months1,212,297 150,081 1,362,378 
Due in over six months through twelve months2,382,552 451,076 2,833,628 
Total due within twelve months5,183,709 948,519 6,132,228 
Due in over 12 months through 24 months566,624 162,363 728,987 
Due in over 24 months61,454 5,923 67,377 
Total due over twelve months628,078 168,286 796,364 
Total $5,811,787 $1,116,805 $6,928,592 
Client Investment Funds
In addition to deposit products, we also offer select clients non-depository cash investment options through PWAM, our registered investment adviser subsidiary, and third-party money market sweep products. PWAM provides customized investment advisory and asset management solutions. At March 31, 2023, total off-balance sheet client investment funds were $1.2 billion, of which $0.8 billion was managed by PWAM. At December 31, 2022, total off-balance sheet client investment funds were $1.4 billion, of which $0.9 billion was managed by PWAM.
82


Credit Quality
Nonperforming Assets, Classified Loans and Leases, and Special Mention Loans and Leases
The following table presents information on our nonperforming assets, classified loans and leases, and special mention loans and leases as of the dates indicated:
March 31,
December 31,
20232022
(Dollars in thousands)
Nonaccrual loans and leases held for investment $87,124 $103,778 
Foreclosed assets, net2,135 5,022 
Total nonperforming assets$89,259 $108,800 
Classified loans and leases held for investment $132,423 $118,271 
Special mention loans and leases held for investment$580,153 $566,259 
Nonaccrual loans and leases held for investment to loans and leases held for investment0.34 %0.36 %
Nonperforming assets to loans and leases held for investment and foreclosed assets, net0.35 %0.38 %
Allowance for credit losses to nonaccrual loans and leases held for investment327.8 %281.2 %
Classified loans and leases held for investment to loans and leases held for investment0.52 %0.41 %
Special mention loans and leases held for investment to loans and leases held for investment2.26 %1.98 %
Nonaccrual Loans and Leases Held for Investment
The following table presents our nonaccrual loans and leases held for investment and accruing loans and leases past due between 30 and 89 days by loan portfolio segment and class as of the dates indicated:
March 31, 2023December 31, 2022Increase (Decrease)
Accruing AccruingAccruing
and 30-89and 30-89and 30-89
Days PastDays Past Days Past
NonaccrualDueNonaccrualDueNonaccrualDue
(In thousands)
Real estate mortgage:
Commercial$32,996 $1,650 $42,509 $1,047 $(9,513)$603 
Multi-family— — — — — — 
Other residential50,060 125,458 55,893 95,654 (5,833)29,804 
Total real estate mortgage83,056 127,108 98,402 96,701 (15,346)30,407 
Real estate construction and land:
Commercial— — — — — — 
Residential— — — — — — 
Total real estate construction and land— — — — — — 
Commercial:
Asset-based420 — 865 — (445)— 
Venture capital— — — — — — 
Other commercial3,123 618 4,345 385 (1,222)233 
Total commercial3,543 618 5,210 385 (1,667)233 
Consumer525 1,593 166 1,935 359 (342)
Total held for investment$87,124 $129,319 $103,778 $99,021 $(16,654)$30,298 
83


During the three months ended March 31, 2023, nonaccrual loan and leases held for investment decreased by $16.7 million to $87.1 million at March 31, 2023 due mainly to transfers to accrual status of $1.8 million, charge-offs of $9.2 million, and principal and other reductions of $25.8 million, offset partially by $20.2 million in additions. As of March 31, 2023, the Company's three largest loan relationships on nonaccrual status had an aggregate carrying value of $23.8 million and represented 27% of total nonaccrual loans and leases.
Foreclosed Assets
The following table presents foreclosed assets (primarily OREO), net of the valuation allowance, by property type as of the dates indicated:
March 31,
December 31,
Property Type20232022
(In thousands)
Commercial real estate$— $— 
Single-family residence2,135 5,022 
Total OREO, net2,135 5,022 
Other foreclosed assets— — 
Total foreclosed assets, net$2,135 $5,022 
During the three months ended March 31, 2023, foreclosed assets decreased by $2.9 million to $2.1 million at March 31, 2023 due mainly to sales of $4.9 million, offset partially by additions of $2.6 million.
Classified and Special Mention Loans and Leases Held for Investment
The following table presents the credit risk ratings of our loans and leases held for investment, net of deferred fees, as of the dates indicated:
March 31,December 31,
Loan and Lease Credit Risk Ratings
20232022
(In thousands)
Pass$24,959,805 $27,924,599 
Special mention580,153 566,259 
Classified132,423 118,271 
Total loans and leases held for investment, net of deferred fees$25,672,381 $28,609,129 
Classified and special mention loans and leases fluctuate from period to period as a result of loan repayments and downgrades or upgrades from our ongoing active portfolio management.
During the three months ended March 31, 2023, special mention loans and leases increased by $13.9 million to $580.2 million at March 31, 2023 due mainly to an increase of $55.8 million in multi-family real estate mortgage special mention loans, offset partially by decreases of $23.7 million in asset-based commercial special mention loans and $13.3 million in other residential real estate mortgage special mention loans.
During the three months ended March 31, 2023, classified loans increased by $14.2 million to $132.4 million at March 31, 2023 due mainly to increases of $15.8 million in other residential real estate mortgage classified loans and $6.7 million in other commercial classified loans, offset partially by a decrease of $8.1 million in commercial real estate mortgage classified loans.
84


The following table presents the classified and special mention credit risk rating categories for loans and leases held for investment, net of deferred fees, by loan portfolio segment and class and the related net changes as of the dates indicated:
March 31, 2023December 31, 2022Increase (Decrease)
Special Special Special
ClassifiedMentionClassifiedMentionClassifiedMention
(In thousands)
Real estate mortgage:
Commercial$35,596 $109,020 $43,737 $106,493 $(8,141)$2,527 
Multi-family3,586 116,092 3,611 60,330 (25)55,762 
Other residential76,382 44,810 60,557 58,063 15,825 (13,253)
Total real estate mortgage115,564 269,922 107,905 224,886 7,659 45,036 
Real estate construction and land:
Commercial— 93,641 — 91,334 — 2,307 
Residential— 44,997 — 45,155 — (158)
Total real estate construction and land— 138,638 — 136,489 — 2,149 
Commercial:
Asset-based420 33,133 865 56,836 (445)(23,703)
Venture capital2,615 126,422 2,753 127,907 (138)(1,485)
Other commercial13,126 5,036 6,473 13,233 6,653 (8,197)
Total commercial16,161 164,591 10,091 197,976 6,070 (33,385)
Consumer698 7,002 275 6,908 423 94 
Total$132,423 $580,153 $118,271 $566,259 $14,152 $13,894 

85


Regulatory Matters
Capital
Bank regulatory agencies measure capital adequacy through standardized risk-based capital guidelines that compare different levels of capital (as defined by such guidelines) to risk-weighted assets and off-balance sheet obligations. At March 31, 2023, banks considered to be “well capitalized” must maintain a minimum Tier 1 leverage ratio of 5.00%, a minimum common equity Tier 1 risk-based capital ratio of 6.50%, a minimum Tier 1 risk-based capital ratio of 8.00%, and a minimum Total risk-based capital ratio of 10.00%.
Basel III currently requires all banking organizations to maintain a 2.50% capital conservation buffer above the minimum risk-based capital requirements to avoid certain limitations on capital distributions, stock repurchases and discretionary bonus payments to executive officers. The capital conservation buffer is exclusively comprised of common equity Tier 1 capital, and it applies to each of the three risk-based capital ratios but not to the leverage ratio. Effective January 1, 2019, the common equity Tier 1, Tier 1, and Total capital ratio minimums inclusive of the capital conservation buffer were 7.00%, 8.50%, and 10.50%. At March 31, 2023, the Company and the Bank were in compliance with the capital conservation buffer requirement.
The Company and the Bank elected the CECL 5-year regulatory transition guidance for calculating regulatory capital ratios and the March 31, 2023 ratios include this election. This regulatory guidance allows an entity to add back to capital 100% of the capital impact from the day one CECL transition adjustment and 25% of subsequent increases to the allowance for credit losses through December 31, 2021. This cumulative amount is now being phased out of regulatory capital evenly over the three years from 2022 to 2024. The add-back as of March 31, 2023 ranged from 0 basis points to 4 basis points for the capital ratios below.
The following tables present a comparison of our actual capital ratios to the minimum required ratios and well capitalized ratios as of the dates indicated:
Minimum Required
For CapitalFor CapitalFor Well
AdequacyConservationCapitalized
March 31, 2023ActualPurposesBufferClassification
PacWest Bancorp Consolidated:
Tier 1 leverage capital ratio8.33%4.00%N/AN/A
CET1 capital ratio9.21%4.50%7.00%N/A
Tier 1 capital ratio11.15%6.00%8.50%N/A
Total capital ratio14.21%8.00%10.50%N/A
Pacific Western Bank:
Tier 1 leverage capital ratio8.14%4.00%N/A5.00%
CET1 capital ratio10.88%4.50%7.00%6.50%
Tier 1 capital ratio10.88%6.00%8.50%8.00%
Total capital ratio12.94%8.00%10.50%10.00%
86


Minimum Required
For CapitalFor CapitalFor Well
AdequacyConservationCapitalized
December 31, 2022ActualPurposesBufferClassification
PacWest Bancorp Consolidated:
Tier 1 leverage capital ratio 8.61%4.00%N/AN/A
CET1 capital ratio 8.70%4.50%7.00%N/A
Tier 1 capital ratio10.61%6.00%8.50%N/A
Total capital ratio 13.61%8.00%10.50%N/A
Pacific Western Bank:
Tier 1 leverage capital ratio8.39%4.00%N/A5.00%
CET1 capital ratio10.32%4.50%7.00%6.50%
Tier 1 capital ratio10.32%6.00%8.50%8.00%
Total capital ratio12.34%8.00%10.50%10.00%
The Company's consolidated common equity Tier 1 (CET1), Tier 1, and Total capital ratios increased during the three months ended March 31, 2023 due mainly to positive adjusted earnings combined with a decrease in risk-weighted assets. The consolidated Tier 1 leverage ratio decreased during the three months ended March 31, 2023 due mainly to a $1.6 billion increase in average assets due mainly to higher levels of on-balance sheet liquidity.
Subordinated Debt
We issued or assumed through mergers subordinated debt to trusts that were established by us or entities we acquired, which, in turn, issued trust preferred securities. As of March 31, 2023, the carrying value of subordinated debt totaled $868.8 million. At March 31, 2023, $131.0 million of the trust preferred securities were included in the Company's Tier I capital and $723.6 million were included in Tier II capital.
Dividends on Common Stock and Interest on Subordinated Debt
As a bank holding company, PacWest is required to notify and receive approval from the FRB prior to declaring and paying a dividend to common stockholders during any period in which quarterly and/or cumulative twelve-month net earnings are insufficient to fund the dividend amount, among other requirements. Interest payments made on subordinated debt are considered dividend payments under FRB regulations. We may not pay a dividend if the FRB objects or until such time as we receive approval from the FRB or we no longer need to provide notice under applicable regulations. The Company currently is required to receive FRB approval to declare or pay a dividend to stockholders. Further, if the Company defaults or elects to defer the interest payments on its subordinated debt, it is restricted from paying dividends on its Series A preferred and common stock.
Dividends on Preferred Stock
The Company's ability to pay dividends on the Series A preferred stock depends on the ability of the Bank to pay dividends to the holding company. The ability of the Company and the Bank to pay dividends in the future is subject to bank regulatory requirements, including capital regulations and policies established by the FRB, the FDIC and the DFPI, as applicable. Dividends on the Series A preferred stock will not be declared, paid, or set aside for payment to the extent such act would cause us to fail to comply with applicable laws and regulations, including applicable FRB capital adequacy regulations and policies.
87


Dividends on the Series A preferred stock are not cumulative or mandatory. If the Company’s Board of Directors does not declare a dividend on the Series A preferred stock in respect of a dividend period, then no dividend shall be deemed to be payable for such dividend period or be cumulative, and the Company will have no obligation to pay any dividend for that dividend period, whether or not the Board of Directors declares a dividend on the Series A preferred stock or any other class or series of its capital stock for any future dividend period. Additionally, so long as any share of Series A preferred stock remains outstanding, unless dividends on all outstanding shares of Series A preferred stock for the most recently completed dividend period have been paid in full or declared and a sum sufficient for the payment thereof has been set aside for payment, no dividend shall be declared or paid or set aside for payment and no distribution shall be declared or made or set aside for payment on the Company’s common stock.
Liquidity
Liquidity Management
Liquidity is the ongoing ability to accommodate liability maturities and deposit withdrawals, fund asset growth and business operations, and meet contractual obligations through unconstrained access to funding at reasonable market rates. Liquidity management involves forecasting funding requirements and maintaining sufficient capacity to meet the needs and accommodate fluctuations in asset and liability levels due to changes in the Company’s business operations or unanticipated events.
The ability to have readily available funds sufficient to repay fully maturing liabilities is of primary importance to depositors, creditors, and regulators. The Company’s liquidity, represented by cash and due from banks; interest-earning deposits in financial institutions, net of restricted cash collateral accounts; unpledged available-for-sale securities; and unpledged held-to-maturity securities, is a result of the Company’s operating, investing, and financing activities and related cash flows. In order to ensure that funds are available when necessary, the Company regularly projects the amount of funds that will be required over a twelve-month period and it also strives to maintain relationships with a diversified customer base. Liquidity requirements can also be met through short-term borrowings or the disposition of short-term assets.
The Company has a formal liquidity policy and, in the opinion of management, its liquid assets are considered adequate to meet cash flow needs for loan funding and deposit cash withdrawals for the next 90 to 120 days. At March 31, 2023, there was $6.9 billion in liquid assets, comprised of $218.8 million in cash and due from banks; $6.3 billion in interest-earning deposits in financial institutions, net of restricted cash accounts; $292.3 million in unpledged available-for-sale securities; and $64.4 million in unpledged held-to-maturity securities. In response to the deposit outflow following the two bank closures in March 2023, the Company pledged substantially all of its investment securities portfolio to the FRBSF and FHLB secured borrowing facilities, and borrowed $4.9 billion under the Bank Term Funding Program supported by the pledged securities collateral. At March 31, 2023, the Company operated with an elevated cash position as a precautionary tactic given the recent deposit volatility. At December 31, 2022, the Company maintained $6.2 billion in liquid assets, comprised of $212.3 million in cash and due from banks; $1.9 billion in interest-earning deposits in financial institutions, net of restricted cash collateral accounts; $3.7 billion in unpledged available-for-sale securities; and $416.4 million in unpledged held-to-maturity securities.
While the Company’s liquidity increased by only $696.1 million during the three months ended March 31, 2023, the composition of the liquidity resources shifted to be concentrated in interest-earning deposits in financial institutions compared to the normal tactic of concentrating on-balance sheet liquidity in unpledged securities.
We also maintain available borrowing capacity under secured credit lines with the FHLB and the FRBSF. As a member of the FHLB, the Bank had secured borrowing capacity with the FHLB of $5.7 billion at March 31, 2023, and $5.5 billion was borrowed as of that date. The FHLB secured credit line was collateralized by a blanket lien on $9.7 billion of certain qualifying loans and $133.4 million of securities. The Bank also had secured borrowing capacity with the FRBSF under the Discount Window program totaling $5.6 billion at March 31, 2023, all of which was available, and $4.9 billion under the Bank Term Funding Program, which was fully borrowed as of that date. The FRBSF Discount Window secured credit line was collateralized by liens on $5.6 billion of qualifying loans and $1.4 billion of pledged securities, and the Bank Term Funding Program credit line was collateralized by pledged securities with a market value of $4.3 billion and a par value of $4.9 billion. The Bank Term Funding Program provides borrowing capacity on qualifying government and government agency guaranteed securities based on the collateral par value.
88


In addition to its secured lines of credit with the FHLB and FRBSF, the Bank also borrowed $1.4 billion under a repurchase agreement facility, which was collateralized by $2.1 billion of loan collateral. The Bank also maintains unsecured lines of credit for the purpose of borrowing overnight funds, subject to availability, of $130.0 million in the aggregate with several correspondent banks. As of March 31, 2023, there was no balance outstanding related to these unsecured lines of credit. The Bank is a member of the AFX, through which it may either borrow or lend funds on an overnight or short-term basis with a group of pre-approved commercial banks. The availability of funds changes daily. As of March 31, 2023, the Bank had borrowed nothing through the AFX.
Additionally, we generate liquidity from cash flows from our loan and securities portfolios and from our large base of retail non-maturity deposits, defined as noninterest-bearing demand, non-brokered interest checking, savings, and non-brokered money market accounts. At March 31, 2023, retail non-maturity deposits totaled $19.2 billion and represented 68% of the Company's total deposits. Retail non-maturity deposits are normally less volatile, often with customer relationships tied to other products offered by the Bank promoting long-standing relationships and stable funding sources. See "- Balance Sheet Analysis - Deposits" for additional information and detail of our retail non-maturity deposits.
Our deposit balances may decrease if customers withdraw funds from the Bank. In order to address the Bank’s liquidity risk from fluctuating deposit balances, the Bank maintains adequate levels of available liquidity on and off the balance sheet.
We use brokered deposits, the availability of which is uncertain and subject to competitive market forces and regulation, for liquidity management purposes. At March 31, 2023, brokered deposits totaled $6.5 billion, consisting of $2.0 billion of non-maturity brokered accounts and $4.4 billion of brokered time deposits. At December 31, 2022, brokered deposits totaled $4.9 billion, consisting of $2.6 billion of non-maturity brokered accounts and $2.3 billion of brokered time deposits.
Holding Company Liquidity
PacWest acts a source of financial strength for the Bank which can also include being a source of liquidity. The primary sources of liquidity for the holding company include dividends from the Bank, intercompany tax payments from the Bank, and PacWest's ability to raise capital, issue subordinated debt, and secure outside borrowings. PacWest's ability to obtain funds for the payment of dividends to our stockholders, the repurchase of shares of common stock, and other cash requirements is largely dependent upon the Bank’s earnings. The Bank is subject to restrictions under certain federal and state laws and regulations that limit its ability to transfer funds to the holding company through intercompany loans, advances, or cash dividends. PacWest's ability to pay dividends is also subject to the restrictions set forth in Delaware law, by the FRB, and by certain covenants contained in our subordinated debt. See "- Regulatory Matters - Dividends on Preferred Stock" for information regarding the payment of dividends on the Series A preferred stock.
At March 31, 2023, PacWest had $341.7 million in cash and cash equivalents, of which substantially all was on deposit at the Bank. We believe this amount of cash, along with anticipated future dividends from the Bank, will be sufficient to fund the holding company’s cash flow needs over the next 12 months.
Our obligations also include off-balance sheet arrangements consisting of loan commitments, of which only a portion is expected to be funded, and standby letters of credit. At March 31, 2023, our loan commitments and standby letters of credit were $9.8 billion and $321.7 million. The loan commitments, a portion of which will eventually result in funded loans, increase our profitability through net interest income when drawn and unused commitment fees prior to being drawn. We manage our overall liquidity taking into consideration funded and unfunded commitments as a percentage of our liquidity sources. Our liquidity sources, as described in "- Liquidity - Liquidity Management," have been and are expected to be sufficient to meet the cash requirements of our lending activities. For further information on loan commitments, see Note 11. Commitments and Contingencies, of the Notes to Condensed Consolidated Financial Statements (Unaudited) contained in "Item 1. Condensed Consolidated Financial Statements (Unaudited)."
89


ITEM 3. QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK
This analysis should be read in conjunction with text under the caption "Quantitative and Qualitative Disclosures About Market Risk" in our Form 10-K, which text is incorporated herein by reference. Our analysis of market risk and market-sensitive financial information contains forward-looking statements and is subject to the disclosure at the beginning of Item 2 regarding such forward-looking information.
Market Risk - Foreign Currency Exposure
We enter into foreign exchange contracts with our clients and counterparty banks primarily for the purpose of offsetting or hedging clients' foreign currency exposures arising out of commercial transactions, and we enter into cross currency swaps to hedge exposures to debt instruments denominated in foreign currencies. We have experienced and will continue to experience fluctuations in our net earnings as a result of transaction gains or losses related to revaluing certain asset and liability balances that are denominated in currencies other than the U.S. Dollar and the derivatives that hedge those exposures. As of March 31, 2023, the U.S. Dollar notional amounts of loans receivable and subordinated debt payable denominated in foreign currencies were $8.7 million and $27.9 million, and the U.S. Dollar notional amounts of derivatives outstanding to hedge these foreign currency exposures were $8.6 million and $28.5 million. We recognized a foreign currency translation net loss of $0.2 million for the three months ended March 31, 2023 and a foreign currency translation net gain of $1.2 million for the three months ended March 31, 2022.
Asset/Liability Management and Interest Rate Sensitivity
Interest Rate Risk
We measure our IRR position on a monthly basis using two methods: (i) NII simulation analysis; and (ii) MVE modeling. The Executive ALM Committee and the Finance Committee of the Company's Board of Directors review the results of these analyses quarterly. If hypothetical changes to interest rates cause changes to our simulated net present value of equity and/or net interest income outside our pre-established limits, we may adjust our asset and liability mix in an effort to bring our interest rate risk exposure within our established limits.
We evaluated the results of our NII simulation model and MVE model prepared as of March 31, 2023, the results of which are presented below. Our NII simulation and MVE model indicate that our balance sheet is liability sensitive. A liability sensitive IRR profile would suggest that our estimated NII and MVE would change in the opposite direction of a sudden sustained change in prevailing interest rates.
Net Interest Income Simulation
We used a NII simulation model to measure the estimated changes in NII that would result over the next 12 months from immediate and sustained changes in interest rates as of March 31, 2023. This model is an interest rate risk management tool and the results are not necessarily an indication of our future net interest income. This model has inherent limitations and these results are based on a given set of rate changes and assumptions at one point in time. We have assumed no growth or changes in the product mix of either our total interest-sensitive assets or liabilities over the next 12 months, therefore the results reflect an interest rate shock to a static balance sheet. For the current quarter, the results of the NII simulation model are exaggerated by the large cash and borrowings positions that existed on March 31, 2023. We expect our NII sensitivity results to reflect less interest rate risk once the large cash and borrowings positions are reduced to more historical levels, which we anticipate happening during the upcoming quarter.
This analysis calculates the difference between NII forecasted using both increasing and decreasing interest rate scenarios using the forward yield curve at March 31, 2023. In order to arrive at the base case, we extend our balance sheet at March 31, 2023 one year and reprice any assets and liabilities that would contractually reprice or mature during that period using the products’ pricing as of March 31, 2023. Based on such repricing, we calculate an estimated NII and NIM for each rate scenario.
90


The NII simulation model is dependent upon numerous assumptions. For example, almost half of our loans are variable rate (excluding hybrid loans), which are assumed to reprice in accordance with their contractual terms. Some loans and investment securities include the opportunity of prepayment (embedded options) and the simulation model uses prepayment assumptions to estimate these accelerated cash flows and reinvest these proceeds at current simulated yields. Our interest-bearing deposits reprice at our discretion and are assumed to reprice at a rate less than the change in market rates. The 12-month NII simulation model as of March 31, 2023 assumes interest-bearing deposits reprice at 52% and total deposits reprice at 39% of the change in market rates in a rising interest rate scenario, depending on the amount of the rate change (this is commonly referred to as the "deposit beta"). The effects of certain balance sheet attributes, such as fixed-rate loans, interest rate floors on variable-rate loans, and the volume of noninterest-bearing deposits as a percentage of earning assets, impact our assumptions and consequently the results of our NII simulation model. Additionally, we assume that all market interest rates have an interest rate floor of 0%. Changes that could vary significantly from our assumptions include loan and deposit growth or contraction, loan and deposit pricing, changes in the mix of earning assets or funding sources, and future asset/liability management decisions, all of which may have significant effects on our net interest income.
The following table presents forecasted net interest income and net interest margin for the next 12 months using the static balance sheet as of March 31, 2023 and forward yield curve as of March 31, 2023 (which presumes one interest rate cut over a twelve month horizon) as the base scenario, with immediate and sustained parallel upward and downward movements in interest rates of 100, 200, and 300 basis points as of the date indicated:
ForecastedForecastedForecasted
Net InterestPercentageNet InterestNet Interest
March 31, 2023IncomeChange MarginMargin Change
Static Balance Sheet(Tax Equivalent)From Base(Tax Equivalent)From Base
(Dollars in millions)
Interest Rate Scenario:
Up 300 basis points$830.1 (11.9)%1.96%(0.26)%
Up 200 basis points$863.5 (8.4)%2.04%(0.18)%
Up 100 basis points$896.7 (4.8)%2.12%(0.10)%
BASE CASE$942.2 2.22%
Down 100 basis points$993.7 5.5%2.34%0.12%
Down 200 basis points$1,043.1 10.7%2.46%0.24%
Down 300 basis points$1,092.1 15.9%2.58%0.36%

During the three months ended March 31, 2023, total base case year 1 tax equivalent NII decreased by $333.1 million or 26% to $942.2 million at March 31, 2023 compared to December 31, 2022, and the base case tax equivalent NIM decreased to 2.22% at March 31, 2023 from 3.21% at December 31, 2022. The decrease in year 1 NII and tax equivalent NIM compared to the December 31, 2022 forecasted NII and NIM was attributable to the change in the funding mix at March 31, 2023 compared to December 31, 2022, as the average balance of noninterest-bearing deposits decreased by $4.2 billion, the average balance of interest-bearing deposits decreased by $1.6 billion, and the average balance of borrowings increased by $10.0 billion. These funding mix changes resulted in a $541 million increase in forecasted interest expense. The interest expense increase was offset partially by a $208 million increase in interest income, due primarily to the $4.5 billion increase in interest-earning deposits in financial institutions. The change in the funding mix at March 31, 2023 from December 1, 2022 was in response to recent industry events. For further discussion on these recent industry events and their impact on the Company, see “Recent Events – Impact of Two Bank Closures” contained herein.
In addition to parallel interest rate shock scenarios, we also model various alternative rate vectors. The most favorable alternate rate vector that we model is the “Gradual Decrease” scenario, which applies a parallel ramped decrease to the yield curve over an 18 month horizon. In the “Gradual Decrease” scenario, Year 1 tax equivalent NII decreases by 4.2%. The most unfavorable alternate rate vector that we model is the “Gradual Increase” scenario, in which rates increase over an 18 month ramped horizon. In the “Gradual Increase” scenario, Year 1 tax equivalent NII decreases by 6.4%.
At March 31, 2023, we had $28.6 billion of total gross loans that included $12.2 billion or 43% with variable interest rate terms (excluding hybrid loans discussed below). Of the variable interest rate loans, $10.94 billion, or 90%, contained interest rate floor provisions, which included $10.90 billion of loans that were at or above their floors and only $39.2 million of loans below their floors.
91


At March 31, 2023, we also had $6.1 billion of variable-rate hybrid loans, representing 21% of total loans, which do not reprice immediately because the loans contain an initial fixed-rate period before they become variable. The cumulative amounts of hybrid loans that would switch from being fixed-rate to variable-rate because the initial fixed-rate term would expire were approximately $92.5 million, $447.0 million, and $1.1 billion in the next one, two, and three years.
LIBOR is expected to be phased out in 2023, as such the Company stopped originations of LIBOR-indexed loans effective December 31, 2021. The business processes impacted relate primarily to our variable-rate loans and our subordinated debt, both of which are indexed to LIBOR. For further information, see Item 7A. "Risk Factors" of our Annual Report on Form 10-K for the year ended December 31, 2022.
Market Value of Equity
We measure the impact of market interest rate changes on the net present value of estimated cash flows from our assets, liabilities, and off-balance sheet items, defined as the market value of equity, using our MVE model. This simulation model assesses the changes in the market value of our interest-sensitive financial instruments that would occur in response to an instantaneous and sustained increase and decrease in market interest rates of 100, 200, and 300 basis points. This analysis assigns significant value to our noninterest-bearing deposit balances. The projections include various assumptions regarding cash flows and interest rates and are by their nature forward-looking and inherently uncertain.
The MVE model is an interest rate risk management tool and the results are not necessarily an indication of our actual future results. Actual results may vary significantly from the results suggested by the market value of equity table. Loan prepayments and deposit attrition, changes in the mix of our earning assets or funding sources, and future asset/liability management decisions, among others, may vary significantly from our assumptions. The base case is determined by applying various current market discount rates to the estimated cash flows from the different types of assets, liabilities, and off-balance sheet items existing at March 31, 2023.
The following table shows the projected change in the market value of equity for the rate scenarios presented as of the date indicated:
Ratio of
Projected
Dollar
Percentage
Percentage
Projected
Market Value
Change
Change
of Total
Market Value
March 31, 2023
of Equity
From Base
From Base
Assets
to Book Value
(Dollars in millions)
Interest Rate Scenario:
Up 300 basis points$5,225.8 $(728.7)(12.2)%11.8 %188.6 %
Up 200 basis points$5,492.8 $(461.7)(7.8)%12.4 %198.2 %
Up 100 basis points$5,734.3 $(220.3)(3.7)%12.9 %206.9 %
BASE CASE (1)
$5,954.5 $— — %13.4 %214.9 %
Down 100 basis points$6,158.1 $203.6 3.4 %13.9 %222.2 %
Down 200 basis points$6,386.6 $432.1 7.3 %14.4 %230.4 %
Down 300 basis points$6,439.5 $485.0 8.1 %14.5 %232.3 %
_______________________________________ 
(1)    The base case of projected market value of equity is approximately 2.15 times the Company's total stockholders' equity as of March 31, 2023 and December 31, 2022. The MVE methodology and the application of the various assumptions as of March 31, 2023 are consistent with December 31, 2022.
During the three months ended March 31, 2023, total base case projected market value of equity decreased from December 31, 2022 by $2.5 billion to $6.0 billion at March 31, 2023. This decrease in base case projected MVE was due mostly to: (1) a $1.9 billion increase in the mark-to-market adjustment for total deposits, borrowings, and subordinated debt, offset partially by (2) a $456.2 million increase in the mark-to-market adjustment for loans and leases; (3) a $42.1 million decrease in the mark-to-market adjustment for investment securities held-to-maturity; and (4) a $1.18 billion decrease in the book value of stockholders' equity. The decrease in the book value of stockholders' equity was due mainly to a $1.20 billion net loss attributable primarily to a $1.38 billion goodwill impairment charge and $29.5 million of common stock cash dividends paid, offset partially by a $54.8 million decline in accumulated other comprehensive loss.
92


ITEM 4. CONTROLS AND PROCEDURES
As of the end of the period covered by this report, an evaluation was carried out by the Company's management, with the participation of the Chief Executive Officer and the Chief Financial Officer, of the effectiveness of the Company's disclosure controls and procedures (as defined in Rule 13a-15(e) under the Securities Exchange Act of 1934). Based upon that evaluation, the Chief Executive Officer and Chief Financial Officer concluded that, as of the end of the period covered by this report, these disclosure controls and procedures were effective.
There have been no changes in the Company's internal control over financial reporting (as defined in Rule 13a-15(f) under the Securities Exchange Act of 1934) during our most recent fiscal quarter that have materially affected, or are reasonably likely to materially affect, the Company's internal control over financial reporting.
PART II. OTHER INFORMATION
ITEM 1. LEGAL PROCEEDINGS
The information set forth in Note 11. Commitments and Contingencies in the Notes to Condensed Consolidated Financial Statements (Unaudited) is incorporated herein by reference.
In addition, in the ordinary course of our business, we are party to various legal actions, which we believe are incidental to the operation of our business. The outcome of such legal actions and the timing of ultimate resolution are inherently difficult to predict. In the opinion of management, based upon information currently available to us, any resulting liability, in addition to amounts already accrued, and taking into consideration insurance which may be applicable, would not have a material adverse effect on the Company’s financial statements or operations.
ITEM 1A. RISK FACTORS
For information regarding factors that could affect the Company's results of operations, financial condition and liquidity, see the risk factors disclosed in the "Risk Factors" section of our Annual Report on Form 10-K for the year ended December 31, 2022. See also "Forward-Looking Information" disclosed in Part I, Item 2 of this quarterly report on Form 10-Q and the updated Risk Factors below:
We are subject to liquidity risk, including changes in the levels and sources of liquidity as highlighted by the recent events in the banking industry, which have adversely affected, and could continue to adversely affect, our business, financial condition, and results of operations.
Effective liquidity management is essential for the operation of our business. Our primary source of liquidity is deposits from our customers, which may be impacted by market-related forces such as increased competition for these deposits and a variety of other factors. Deposits across the banking industry have been declining in recent quarters in large part due to the increased interest rate environment. Given the turmoil in the banking industry, we, like many other banks, experienced additional deposit outflows as customers spread deposits among several different banks to maximize their amount of FDIC insurance, moved deposits to banks deemed “too big to fail,” or removed deposits from the U.S. banking industry. Customers with uninsured deposits may be more likely to withdraw funds, particularly if there is negative news surrounding the Bank or perceived risks regarding its safety. Our ability to attract depositors during a time of actual or perceived distress or instability in the banking industry may be limited. In addition, these developments have negatively impacted customer confidence in the safety and soundness of regional banks, such as the Bank. If the Bank is unable to continue to fund assets through customer bank deposits or access funding sources on favorable terms, or if the Bank suffers an increase in borrowing costs or otherwise fails to manage liquidity effectively, the Bank’s prospects, liquidity, operating margins, financial condition and results of operations may be materially adversely affected.

93


Problems encountered by, or adverse news concerning, other financial institutions has adversely affected financial and capital markets generally as well as the Bank, and may continue to do so.
The soundness and stability of financial institutions are closely interrelated as a result of credit, trading, clearing, and other relationships between institutions. As a result, concerns about, or a default or threatened default by, or failure or threatened failure of, one or more institutions could lead to significant market-wide liquidity problems, losses or defaults by us or other institutions, or credit risk in the event of default of our counterparty or customer. Even rumors or adverse news developments concerning other financial institutions or the Bank may result in rapid deterioration in investor and customer confidence. This interconnectedness of financial institutions has been starkly evidenced by the recent events affecting the banking industry, as banks including the Bank have been impacted by concerns regarding the soundness or creditworthiness of other financial institutions, which has caused substantial and cascading disruption within the financial markets and increased expenses and has adversely impacted the market price and volatility of the Bank’s common stock.
In addition to the disruption of financial, credit and capital markets, and the increase volatility in our stock, the recent banking industry events may have other adverse impacts on the Bank. For example, these developments may result in increased regulatory requirements and scrutiny, increasing our costs and adversely affecting our profitability. In addition, the premiums of the FDIC’s deposit insurance program are expected to increase. Changes resulting from these events could include increased regulatory oversight, higher capital requirements or changes in the way regulatory capital is calculated, and impositions of additional restrictions through regulatory changes or supervisory or enforcement activities, and, as a result, our operating margins, financial condition and results of operations may be materially adversely affected.
We recently reduced our quarterly common stock dividend to $0.01 per share, and there can be no assurance regarding when or if we will increase our common stock dividend to prior levels.
Our stockholders are only entitled to receive such dividends as our Board may declare out of funds legally available for such payments. As a result of the recent events affecting the banking industry and their impact on the Bank, including, among other things, our goodwill impairment of $1.38 billion recorded due to the decline in our stock price as a result of recent market volatility, we have reduced our quarterly common stock dividend to $0.01 per share. There can be no assurances as to when or if we will increase our common stock dividend. In addition to stabilization in the banking industry and the return to normalization of our business, our ability to pay dividends will continue to be subject to the restrictions set forth in Delaware law, by the FRB, and by certain covenants contained in our subordinated debt. Notification to the FRB is required prior to our declaring and paying a cash dividend during any period in which our quarterly and/or cumulative twelve-month net earnings are insufficient to fund the dividend amount, among other requirements. Accordingly, the impact of the goodwill impairment charge on net earnings in the first quarter of 2023 will require us to receive approval from the FRB prior to declaring a dividend from March 31, 2023 through March 31, 2024. In addition, we may be restricted by applicable law or regulation or actions taken by our regulators, now or in the future, from paying dividends to our stockholders.
A further reduction in our credit ratings could adversely affect our access to capital and could increase our cost of funds.
The credit rating agencies regularly evaluate the Company and the Bank, and credit ratings are based on a number of factors, including our financial strength and ability to generate earnings, as well as factors not entirely within our control, including conditions affecting the financial services industry, the economy, and changes in rating methodologies. On April 14, 2023, a credit rating agency, Fitch, downgraded the Company’s and the Bank’s short-term and long-term issuer ratings and removed them from rating watch negative, and downgraded the Bank’s long-term rating. There can be no assurance that we will maintain our current credit ratings. A further downgrade of the credit ratings of the Company or the Bank could further adversely affect our access to liquidity and capital and could significantly increase our cost of funds, trigger additional collateral or funding requirements, and decrease the number of investors and counterparties willing to lend to us or purchase our securities, reducing our ability to generate earnings.
94


ITEM 2. UNREGISTERED SALES OF EQUITY SECURITIES AND USE OF PROCEEDS
The following table presents stock purchases made during the first quarter of 2023:
Total Number of Maximum Dollar
Shares PurchasedValue of Shares
Total as Part of That May Yet
Number of AveragePublicly Be Purchased
Shares Price PaidAnnouncedUnder the
Purchase Dates
Purchased (1)
Per Share
Program (2)
Program (2)
(Dollars in thousands, except per share amounts)
January 1 - January 31, 2023
79,968 $27.66 — $100,000 
February 1 - February 28, 2023
66,335 $27.75 — $— 
March 1 - March 31, 2023
— $— — $— 
Total146,303 $27.70 — 
__________________________
(1)    Shares repurchased pursuant to net settlement by employees in satisfaction of income tax withholding obligations incurred through the vesting of Company stock awards.
(2)    On February 15, 2022, PacWest's Board authorized a new Stock Repurchase Program, effective March 1, 2022, to repurchase shares of its common stock for an aggregate purchase price not to exceed $100 million with a program maturity date of February 28, 2023. No shares were repurchased under the new Stock Repurchase Program prior to its maturity.
95


ITEM 6. INDEX TO EXHIBITS
Exhibit NumberDescription
10.1*
31.1
31.2
32.1
32.2
101
Interactive data files pursuant to Rule 405 of Regulation S-T formatted in Inline XBRL: (i)  the Condensed Consolidated Balance Sheets as of March 31, 2023 and December 31, 2022, (ii)  the Condensed Consolidated Statements of Earnings for the three months ended March 31, 2023 and 2022, (iii)  the Condensed Consolidated Statements of Comprehensive Income (Loss) for the three months ended March 31, 2023 and 2022, (iv)  the Condensed Consolidated Statement of Changes in Stockholders’ Equity for the three months ended March 31, 2023 and 2022, (v)   the Condensed Consolidated Statements of Cash Flows for the three months ended March 31, 2023 and 2022, and (vi)  the Notes to Condensed Consolidated Financial Statements. (Pursuant to Rule 406T of Regulation S-T, this information is deemed furnished and not filed for purposes of Sections 11 and 12 of the Securities Act of 1933 and Section 18 of the Securities Exchange Act of 1934.) (Filed herewith).
104Cover page of PacWest Bancorp’s Quarterly Report on Form 10-Q formatted as Inline XBRL and contained in Exhibit 101.
* Instruments defining the rights of long-term debt holders have been omitted pursuant to Item 601(b)(4)(iii)(A) of Regulation S-K. The Company will furnish a copy of any omitted schedule or exhibit to the Securities and Exchange Commission upon request.
96


Signatures
Pursuant to the requirements of Section 13 or 15(d) of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.


 PACWEST BANCORP
Date:May 10, 2023
/s/ Kevin L. Thompson
 
Kevin L. Thompson
 Executive Vice President, Chief Financial Officer
(Principal Financial Officer)
97
Exhibit 10.1
PACWEST BANCORP
STOCK INCENTIVE PLAN
NOTICE OF STOCK AWARD GRANT

This Notice of Stock Award Grant is part of the Stock Award Agreement between Grantee and the Company dated _____________ and is of no force and effect until the Stock Award Agreement is signed by Grantee and the Company’s representative and this Notice of Stock Award Grant is signed by Grantee.
You have been granted the following Stock Award:

Name of Grantee:
 
 

Total Number of Shares Granted:
(“Granted Stock”)
 
 

Type of Stock Award:
 
Restricted Stock Award

Date of Grant:
 

Vesting Schedule:
 

Vesting Commencement Date:


Please sign below to acknowledge the terms and conditions of this Stock Award.

ACKNOWLEDGED BY GRANTEE:

By:

  
Name:  
 








1



PACWEST BANCORP
STOCK INCENTIVE PLAN
STOCK AWARD AGREEMENT


1. Definitions. Unless otherwise defined herein, the terms defined in the Amended and Restated PacWest Bancorp 2017 Stock Incentive Plan (the “Plan”) shall have the same defined meanings in this Stock Award Agreement (“Agreement”) and the Notice of Stock Award Grant attached hereto as Appendix A.

2. Grant of Stock Award. Pursuant to the terms and conditions set forth in the Notice of Stock Award Grant, this Agreement, and the Plan, PacWest Bancorp (the “Company”) grants to the grantee named in the Notice of Stock Award Grant (“Grantee”) on the date of grant set forth in the Notice of Stock Award Grant (“Date of Grant”) the number of Shares set forth in the Notice of Stock Award Grant. This Stock Award is intended to be a Restricted Stock Award, as provided in the Notice of Stock Award Grant.

3. Vesting. The Grantee shall vest in the Granted Stock in accordance with the vesting schedule provided for in the Notice of Stock Award Grant; provided, however, that the Grantee shall cease vesting in the Granted Stock on the Grantee’s Termination Date. Notwithstanding the foregoing, upon the occurrence of a Vesting Event, the Grantee shall become 100% vested in those shares of Granted Stock that are outstanding on the date of the Vesting Event.

4. Risk of Forfeiture.

(a) General Rule. The Granted Stock shall initially be subject to a Risk of Forfeiture. The Shares subject to a Risk of Forfeiture shall be referred to herein as “Restricted Shares”.

(b) Lapse of Risk of Forfeiture. The Risk of Forfeiture shall lapse as the Grantee vests in the Granted Stock.

(c) Forfeiture of Granted Stock. The Restricted Shares shall automatically be forfeited and immediately returned to the Company on the Grantee’s Termination Date.

(d) Additional Shares or Substituted Securities. In the event of a stock split, reverse stock split, stock dividend, recapitalization, combination or reclassification of the Common Stock or any other increase or decrease in the number of issued and outstanding Shares effected without receipt of consideration by the Company, any new, substituted or additional securities or other property (including money paid other than as an ordinary cash dividend) which are by reason of such transaction distributed with respect to any Restricted Shares or into which such Restricted Shares thereby become convertible shall immediately be subject to a Risk of Forfeiture, which Risk of Forfeiture shall lapse at the same time and in the same manner as the Risk of Forfeiture to which the corresponding Restricted Share is subject.

(e) Escrow. Upon issuance, the stock certificates for Granted Stock shall be deposited in escrow with the Company to be held in accordance with the provisions of this Agreement. Any new, substituted or additional securities or other property described in Subsection (d) above shall immediately be delivered to the Company to be held in escrow, but only to the extent the shares of Granted Stock are at the time Restricted Shares. Restricted Shares, together with any other assets or securities held in escrow hereunder, shall be (i) surrendered to the Company for cancellation upon forfeiture of the Restricted Shares; or (ii) released to the Grantee upon the Grantee’s request to the Administrator on or after the date the shares of Granted Stock are no longer Restricted Shares. Grantee agrees not to make a request to the Company’s transfer agent for delivery of any share certificates representing any shares of Granted Stock so long as such shares are Restricted Shares.

5. Rights as a Stockholder. The Grantee shall not be entitled to vote any unvested shares of Granted Stock or receive any dividends on any unvested shares of Granted Stock. Upon the vesting of any portion of the Stock Award, the Grantee shall have dividend and voting rights with respect to any such vested shares of Granted Stock.
2





6. Non-transferability of Stock Award. Except as otherwise provided for in the Plan, this Stock Award may not be sold, pledged, assigned, hypothecated, transferred, or disposed of in any manner other than by will or by the laws of descent and distribution and may be exercised, during the lifetime of the Grantee, only by the Grantee. If the Grantee transfers all or part of this Stock Award pursuant to the previous sentence, then the terms of this Agreement, the Plan and the Notice of Stock Award shall apply to the transferee to the same extent as to the Grantee.

7. Regulatory Compliance. The issuance of Common Stock pursuant to this Agreement shall be subject to full compliance with all then applicable requirements of law and the requirements of any stock exchange or interdealer quotation system upon which the Common Stock may be listed or traded.

8. Modification and Termination. The rights of the Grantee are subject to modification and termination in certain events, as provided in the Plan.

9. Taxes. The Company’s obligation to deliver Shares or remove any restrictive legends upon vesting of such Shares under the Plan shall be subject to the satisfaction of all applicable federal, state and local income and employment tax withholding requirements, if any. The Grantee acknowledges that the Grantee is solely responsible for any taxes with respect to the issuance, vesting or disposition of the Granted Stock. The Grantee further acknowledges that the Company makes no representations regarding the tax consequences of this Stock Award, including, but not limited to, the issuance, vesting or disposition of the Granted Stock.

10. Governing Law. This Agreement shall be governed by and interpreted in accordance with the internal laws of the State of California without regard to principles of conflict of laws.

11. Successors. This Agreement shall inure to the benefit of and be binding upon the parties hereto and their legal representatives, heirs, and permitted transferees, successors and assigns.

12. Plan. This Agreement and the Notice of Stock Award Grant are subject to all of the terms and provisions of the Plan, receipt of a copy of which is hereby acknowledged by the Grantee. The Grantee hereby agrees to accept as binding, conclusive, and final all decisions and interpretations of the Administrator upon any questions arising under the Plan, this Agreement, and the Notice of Stock Award Grant.

13. Rights to Continued Service. This Stock Award does not confer upon the Grantee any right to continue in the Service of the Company or any Affiliate.

14. Entire Agreement. The Notice of Stock Award Grant, this Agreement, and the Plan constitute the entire contract between the parties hereto with regard to the subject matter hereof. They supersede any other agreements, representations or understandings (whether oral or written and whether express or implied) between the parties which relate to the subject matter hereof. 

By your signature and the signature of the Company’s representative below, you and the Company agree that this Stock Award is granted under and governed by the terms and conditions of this Agreement and the Plan and the Notice of Stock Award Grant, both of which are attached and incorporated herein by reference. This Stock Award is of no force and effect until this Agreement is signed by you and the Company’s representative and the Notice of Stock Award Grant is signed by you.

GRANTEE: PACWEST BANCORP

By:
 

By:
 
Name: Name:

3



Exhibit 31.1
Certification
Pursuant to Section 302 of the
Sarbanes-Oxley Act of 2002
I, Paul W. Taylor, certify that:
1.    I have reviewed this report on Form 10-Q for the quarterly period ended March 31, 2023 of PacWest Bancorp;
2.    Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report;
3.    Based on my knowledge, the financial statements, and other financial information included in this report, fairly present in all material respects the financial condition, results of operations and cash flows of the registrant as of, and for, the periods presented in this report;
4.    The registrant’s other certifying officer and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Exchange Act Rules 13a-15(e) and 15d-15(e)) and internal control over financial reporting (as defined in Exchange Act Rules 13a-15(f) and 15d-15(f)) for the registrant and have:
(a)    Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared;
(b)    Designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles.
(c)    Evaluated the effectiveness of the registrant’s disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of the end of the period covered by this report based on such evaluation; and
(d)    Disclosed in this report any change in the registrant’s internal control over financial reporting that occurred during the registrant’s most recent fiscal quarter (the registrant’s fourth fiscal quarter in the case of an annual report) that has materially affected, or is reasonably likely to materially affect, the registrant’s internal control over financial reporting; and
5.    The registrant’s other certifying officer and I have disclosed, based on our most recent evaluation of internal control over financial reporting, to the registrant’s auditors and the audit committee of the registrant’s board of directors (or persons performing the equivalent functions):
(a)    All significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrant’s ability to record, process, summarize and report financial information; and
(b)    Any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant’s internal control over financial reporting.
Date:May 10, 2023
/s/ Paul W. Taylor
Paul W. Taylor
President and Chief Executive Officer




Exhibit 31.2
Certification
Pursuant to Section 302 of the
Sarbanes-Oxley Act of 2002
I, Kevin L. Thompson, certify that:
1.    I have reviewed this report on Form 10-Q for the quarterly period ended March 31, 2023 of PacWest Bancorp;
2.    Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report;
3.    Based on my knowledge, the financial statements, and other financial information included in this report, fairly present in all material respects the financial condition, results of operations and cash flows of the registrant as of, and for, the periods presented in this report;
4.    The registrant’s other certifying officer and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Exchange Act Rules 13a-15(e) and 15d-15(e)) and internal control over financial reporting (as defined in Exchange Act Rules 13a-15(f) and 15d-15(f)) for the registrant and have:
(a)    Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared;
(b)    Designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles.
(c)    Evaluated the effectiveness of the registrant’s disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of the end of the period covered by this report based on such evaluation; and
(d)    Disclosed in this report any change in the registrant’s internal control over financial reporting that occurred during the registrant’s most recent fiscal quarter (the registrant’s fourth fiscal quarter in the case of an annual report) that has materially affected, or is reasonably likely to materially affect, the registrant’s internal control over financial reporting; and
5.    The registrant’s other certifying officer and I have disclosed, based on our most recent evaluation of internal control over financial reporting, to the registrant’s auditors and the audit committee of the registrant’s board of directors (or persons performing the equivalent functions):
(a)    All significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrant’s ability to record, process, summarize and report financial information; and
(b)    Any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant’s internal control over financial reporting.
Date:May 10, 2023
/s/ Kevin L. Thompson
Kevin L. Thompson
Executive Vice President and Chief Financial Officer



Exhibit 32.1
Certification of Chief Executive Officer Pursuant to 18 U.S.C. Section 1350, as Adopted
Pursuant to Section 906 of the
Sarbanes-Oxley Act of 2002
Pursuant to Section 906 of the Sarbanes-Oxley Act of 2002 (18 U.S.C. Section 1350), the undersigned officer of PacWest Bancorp (the “Company”) hereby certifies that the Company’s Quarterly Report on Form 10-Q for the quarterly period ended March 31, 2023 (the “Report”) fully complies with the requirements of Section 13(a) or 15(d), as applicable, of the Securities Exchange Act of 1934 and that the information contained in the Report fairly presents, in all material respects, the financial condition and results of operations of the Company.
Date:May 10, 2023
/s/ Paul W. Taylor
Paul W. Taylor
President and Chief Executive Officer
The foregoing certification is being furnished solely pursuant to Section 906 of the Sarbanes-Oxley Act of 2002 (18 U.S.C. Section 1350) and is not being filed as part of the Report or as a separate disclosure document.


Exhibit 32.2
Certification of Chief Financial Officer Pursuant to 18 U.S.C. Section 1350, as Adopted
Pursuant to Section 906 of the
Sarbanes-Oxley Act of 2002
Pursuant to Section 906 of the Sarbanes-Oxley Act of 2002 (18 U.S.C. Section 1350), the undersigned officer of PacWest Bancorp (the “Company”) hereby certifies that the Company’s Quarterly Report on Form 10-Q for the quarterly period ended March 31, 2023 (the “Report”) fully complies with the requirements of Section 13(a) or 15(d), as applicable, of the Securities Exchange Act of 1934 and that the information contained in the Report fairly presents, in all material respects, the financial condition and results of operations of the Company.
Date:May 10, 2023
/s/ Kevin L. Thompson
Kevin L. Thompson
Executive Vice President and Chief Financial Officer
The foregoing certification is being furnished solely pursuant to Section 906 of the Sarbanes-Oxley Act of 2002 (18 U.S.C. Section 1350) and is not being filed as part of the Report or as a separate disclosure document.