updated 5/12/2011 6:15:32 AM ET 2011-05-12T10:15:32

LOS ANGELES, May 11, 2011 (GLOBE NEWSWIRE) -- The Board of Directors of PacWest Bancorp (Nasdaq:PACW) declared today a quarterly cash dividend of $0.01 per common share. The cash dividend is payable on June 3, 2011 to stockholders of record at the close of business on May 23, 2011. 

ABOUT PACWEST BANCORP

PacWest Bancorp ("PacWest") is a bank holding company with $5.5 billion in assets as of March 31, 2011, with one wholly-owned banking subsidiary, Pacific Western Bank ("Pacific Western"). Through 77 full-service community banking branches, Pacific Western provides commercial banking services, including real estate, construction and commercial loans, to small and medium-sized businesses. Pacific Western's branches are located in Los Angeles, Orange, Riverside, San Bernardino, San Diego, San Francisco, San Luis Obispo, San Mateo, Santa Barbara and Ventura Counties in California and Maricopa County in Arizona. Through its subsidiary BFI Business Finance and its division First Community Financial, Pacific Western also provides working capital financing to growing companies located throughout the Southwest, primarily in the states of Arizona, California and Texas. Additional information regarding PacWest Bancorp is available on the Internet at www.pacwestbancorp.com.  Information regarding Pacific Western Bank is also available on the Internet at www.pacificwesternbank.com.

CONTACT:  Matthew P. Wagner
          Chief Executive Officer
          10250 Constellation Boulevard
          Suite 1640
          Los Angeles, CA 90067

          Phone: 310-728-1020
          Fax: 310-201-0498
         
          Victor R. Santoro
          Executive Vice President and
          Chief Financial Officer
          10250 Constellation Boulevard
          Suite 1640
          Los Angeles, CA 90067

          Phone: 310-728-1021
          Fax: 310-201-0498

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