PacWest Bancorp Announces Results for the Third Quarter Of 2021
PacWest Bancorp (PACW)
Last pacwest bancorp earnings: 4/21 07:00 am
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US:NASDAQ Investor Relations:
pacwestbancorp.com
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Source: GlobeNewswire
LOS ANGELES, Oct. 18, 2021 (GLOBE NEWSWIRE) -- PacWest Bancorp (Nasdaq: PACW) - THIRD QUARTER 2021 RESULTS $140.0M$1.17$167.8M21.03%Net EarningsDiluted Earnings per SharePPNRROATE THIRD QUARTER 2021 HIGHLIGHTS Net Earnings of $140.0 Million or $1.17 Per Diluted ShareCore Deposits Up $1.1 Billion or 4.1% in 3Q21; Represents 92% of Total DepositsLoan Growth of $1.0 Billion or 5.2%; Excluding PPP Loan Activity, Loan Growth of $1.3 Billion or 7.1%Civic Loan Production of $481 Million in 3Q21, Compared to $423 Million in 2Q21PPNR of $167.8 Million, Up 8.3% Compared to 2Q21Provision for Credit Losses Benefit of $20.0 Million in 3Q21 Compared to Benefit of $88.0 Million in 2Q21Net Interest Income (TE) of $279.8 Million in 3Q21, Compared to $270.1 Million in 2Q21Noninterest Income of $51.3 Million in 3Q21, Compared to $40.4 Million in 2Q21, With Continued Strength in Warrant IncomeNoninterest Expense of $159.4 Million in 3Q21, Up 5% From 2Q21, Driven Mainly By Higher Compensation Expense
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