Pacific Western Bank Increases Hourly Minimum Wage to $15
PacWest Bancorp (PACW)
Last pacwest bancorp earnings: 4/21 07:00 am
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pacwestbancorp.com
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Source: GlobeNewswire
LOS ANGELES, Dec. 26, 2017 (GLOBE NEWSWIRE) -- Pacific Western Bank, the wholly-owned banking subsidiary of PacWest Bancorp (the “Company”) (Nasdaq:PACW), is increasing its hourly minimum wage to $15 effective January 1, 2018. The wage increase affects approximately 100 workers, 5% of the Company’s employee base, most of whom work and live in Southern California, an area known for a high cost of living. President and CEO Matthew Wagner said, “As we reviewed our compensation plans, we recognized the opportunity to provide a significant benefit to a portion of our employees and we are excited to implement it quickly.” Prior to this increase, Pacific Western Bank’s hourly minimum wage was $12. ABOUT PACWEST BANCORP PacWest Bancorp (“PacWest”) is a bank holding company with over $25 billion in assets with one wholly-owned banking subsidiary, Pacific Western Bank (the “Bank”). The Bank has 76 full-service branches located throughout the state of California and one branch in Durham,
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