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PACW - PacWest Bancorp News Story

$40.25 -0.9  -2.1%

Last Trade - 18/06/21

Sector
Financials
Size
Large Cap
Market Cap £3.41bn
Enterprise Value £3.63bn
Revenue £860.2m
Position in Universe 1475th / 6927

Pacific Western Bank Releases 2020 Corporate Social Responsibility Report

Tue 4th May, 2021 1:30pm
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LOS ANGELES, May 04, 2021 (GLOBE NEWSWIRE) -- Pacific Western Bank (the
“Bank”), the wholly-owned banking subsidiary of PacWest Bancorp (Nasdaq:
PACW), announced today the release of its inaugural Corporate Social
Responsibility Report, which is available at:

PWB 2020 Social Responsibility Report
(https://www.globenewswire.com/Tracker?data=B0RukPrbbPNbKssEOpYjyzSguPtc4ahye6IbC3PL1DZnWzah092fBVvdyOfmPIvFIUAN-q32GmeYjXJg2XeMw00Zvq-UL6ZihlMBG5M6IehnWLcgUQ5SQw25PKvZyX0kJvDYoDMWoPkZHcOG2ns7MpifuOSSP4rTRozeKxtYyEzKGveoiOu1mi-wwYu3qoFgyFJ_5VEa5neGQe23BiqkGA==)

The Bank has been working on telling our environmental, social and governance
(“ESG”) story, starting with the two-page Corporate Social Responsibility
Highlights summary issued for 2019 and has now taken further steps through the
issuance of this comprehensive Corporate Social Responsibility Report. This
2020 Corporate Social Responsibility Report focuses on a wide range of topics,
including community reinvestment, human capital, diversity and inclusion,
corporate governance, ethics and risk management and sustainability.

“When viewed together, these topics form the pillars of the Bank’s
corporate social responsibility strategy and they help define our community
banking culture,” said Matt Wagner, President and CEO. “This report
focuses on how our culture inspires and enables us to change what’s possible
for our business, our customers, our employees, our communities and our
environment. We take great pride in our work and we are excited to share it
with all our stakeholders in this report.”

Some of the key developments that are highlighted in the 2020 Corporate Social
Responsibility Report include:
* $669 million in community development lending benefiting low- or
moderate-income borrowers
* $3.5 million in charitable contributions to benefit local communities
* Outstanding CRA rating from the FDIC, for the second consecutive 3-year
period
* Our total workforce is 58% female
* Our total workforce is 49% racially diverse
* Over 6,000 small businesses/non-profits assisted through the Paycheck
Protection Program
ABOUT PACWEST BANCORP

PacWest Bancorp (“PacWest”) is a bank holding company with over $32
billion in assets headquartered in Los Angeles, California, with an executive
office in Denver, Colorado, with one wholly-owned banking subsidiary, Pacific
Western Bank (the “Bank”). The Bank has 70 full-service branches located
in California, one branch located in Durham, North Carolina, and one branch
located in Denver, Colorado. The Bank provides community banking products
including lending and comprehensive deposit and treasury management services
to small and medium-sized businesses conducted primarily through our
California-based branch offices and Denver, Colorado branch office. The Bank
offers national lending products including asset-based, equipment, and real
estate loans and treasury management services to established middle-market
businesses on a national basis. The Bank also offers venture banking products
including a comprehensive suite of financial services focused on
entrepreneurial and venture-backed businesses and their venture capital and
private equity investors, with offices located in key innovative hubs across
the United States. For more information about PacWest Bancorp or Pacific
Western Bank, visit www.pacwest.com.

CONTACTS

 Matthew P. Wagner President and CEO 303.802.8900  Bart R. Olson EVP and CFO 714.989.4149  William J. Black EVP Strategy and Corporate Development 919.597.7466  

 

(https://www.globenewswire.com/NewsRoom/AttachmentNg/07407c97-bf90-4ba0-8831-19256df07597)



GlobeNewswire, Inc. 2021
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