Exhibit 99.1

PRESS RELEASE

PacWest Bancorp

(NASDAQ: PACW)

PACWEST BANCORP ANNOUNCES RESULTS

FOR THE FOURTH QUARTER OF 2013 AND CALENDAR YEAR 2013

Fourth Quarter of 2013 Highlights

·                  Net Earnings of $3.1 Million or $0.06 Per Diluted Share

·                  Net Interest Margin at 5.41%

·                  Credit Loss Reserve at 1.73% of Total Loans and Leases

·                  Credit Loss Reserve at 145% of Nonaccrual Loans and Leases (excludes purchased credit impaired loans)

·                  Demand Deposits Reach 44% of Total Deposits

·                  Core Deposits Increase to 88% of Total Deposits

Calendar Year 2013 Highlights

·                  Net Earnings of $45.1 Million or $1.08 Per Diluted Share

·                  Return on Average Assets and Equity of 0.74% and 6.28%

·                  Core Deposit Growth of $727.8 Million, or 19%

·                  Loan Growth of $720.5 Million, or 20%

Los Angeles, California . . . PacWest Bancorp (Nasdaq: PACW) today announced net earnings for the fourth quarter of 2013 of $3.1 million, or $0.06 per diluted share, compared to net earnings for the third quarter of 2013 of $24.2 million, or $0.53 per diluted share, and net earnings of $45.1 million for calendar year 2013, or $1.08 per diluted share, compared to $56.8 million, or $1.54 per diluted share, for calendar year 2012.  For the fourth quarter of 2013, net earnings include a $12.2 million, or $0.28 per diluted share, after-tax charge for accelerated restricted stock vesting and third quarter of 2013 net earnings include a $5.2 million, or $0.12 per diluted share, after-tax acquisition-related securities gain.

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This press release contains certain non-GAAP financial disclosures for adjusted earnings from continuing operations before income taxes, adjusted efficiency ratio, adjusted allowance for credit losses to loans and leases, return on average tangible equity, and tangible common equity ratio.  The Company uses 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.  As analysts and investors view adjusted earnings from continuing operations before income taxes as an indicator of the Company’s ability to both generate earnings and absorb credit losses, we disclose this amount in addition to pre-tax earnings.  We disclose the adjusted efficiency ratio as it shows the trend in recurring overhead-related noninterest expense relative to recurring net revenues.  As the allowance for credit losses takes into account credit deterioration on acquired loans and leases, which include an estimate of credit losses in their initial fair values, we disclose the adjusted allowance for credit losses to loans and leases in addition to the allowance for credit losses to loans and leases.  The adjusted allowance for credit losses to loans and leases excludes acquired loans and leases and the related allowance.  Given that the use of return on average tangible equity, tangible common equity amounts and ratios, and tangible book value per share is prevalent among banking regulators, investors and analysts, we disclose our return on average tangible equity in addition to return on average equity, our tangible common equity ratio in addition to the equity-to-assets ratio, and tangible book value per share in addition to book value per share.  Please refer to the tables at the end of this release for a presentation of performance ratios in accordance with GAAP and a reconciliation of the non-GAAP financial measures to the GAAP financial measures.

The comparability of financial information is affected by our acquisitions.  Operating results include the operations of acquired entities from the dates of acquisition.  The operations of First California Financial Group, Inc. (“FCAL”), American Perspective Bank (“APB”), Celtic Capital Corporation (“Celtic”) and Pacific Western Equipment Finance (“EQF”) have been included since their respective acquisition dates of May 31, 2013, August 1, 2012, April 3, 2012, and January 3, 2012.

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FOURTH QUARTER RESULTS

(1)  Represents pre-tax earnings from continuing operations excluding net credit costs, securities gains and losses, accelerated restricted stock expense, and acquisition and integration costs. See GAAP to Non-GAAP Reconciliation table.

(2)  Calculation reduces average equity by average intangible assets.  See GAAP to Non-GAAP Reconciliation table.

(3)  Excludes FDIC loss sharing expense, securities losses, accelerated restricted stock expense, OREO expenses, and acquisition and integration costs.  See GAAP to Non-GAAP Reconciliation table.

(4) PCI refers to purchased credit impaired loans, which includes acquired loans that are impaired on the purchase date.

The quarter-over-quarter decrease in net earnings of $21.1 million was due mostly to: (a) the $12.4 million ($12.2 million after tax) accelerated vesting of restricted stock, (b) the $6.2 million ($3.6 million after tax) increase in net credit costs (mostly due to higher FDIC loss sharing expense), (c) the $5.2 million non-taxable acquisition-related securities gain recorded in the third quarter but not repeated in the fourth quarter, and (d) the $1.0 million ($598,000 after tax) decrease in net interest income.  These items were offset by the decrease in acquisition and integration costs of $1.2 million ($524,000 after tax).

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Matt Wagner, Chief Executive Officer, commented, “Although our fourth quarter earnings were negatively impacted by our decision to accelerate vesting of some restricted stock, that action saved the Company $21 million in compensation and tax expense that would have been recorded when we complete the merger with CapitalSource.  The real story is in our adjusted earnings, which totaled $38.2 million for the fourth quarter.  That level was achieved by improved credit quality, profitable loan originations and core deposits, and maintenance of our net interest margin.”

Mr. Wagner continued, “New loans and leases originated and purchased in the fourth quarter totaled $236 million, down slightly from the $241 million we posted in the third quarter.  The net paydowns of loans and leases in the fourth quarter included one lending relationship for $32 million, which paid off on the last day of the year.  Nevertheless, we see some economic improvement in our markets and expect new loan activity will increase.”

Mr. Wagner went on to comment on the pending CapitalSource merger, “The integration planning for our merger with CapitalSource continues to progress very well.  We received stockholder approval of the merger last week and expect to close in the first quarter of 2014, subject to receipt of final regulatory approval.  We all look forward to completing the merger so that we can begin to profitably grow the new organization.”

Vic Santoro, Chief Financial Officer, commented, “Our ‘core’ loan and lease yield of 6.64% and our all-in deposit cost of 0.11% are the main drivers of our superior net interest margin.  Our net interest margin has held above the 5.25% mark all year, hitting 5.41% in the fourth quarter.  When volatile items are excluded, our core NIM is 5.31%.”

Mr. Santoro continued, “We remain focused on controlling our expenses, with fourth quarter noninterest expense declining $1.2 million quarter-over-quarter when accelerated stock vesting, OREO, and acquisition and integration costs are excluded.  The level of our adjusted fourth quarter earnings continues to be strong, and we expect to generate solid core earnings in 2014 and beyond.”

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YEAR TO DATE RESULTS

(1)  Represents pre-tax earnings from continuing operations excluding net credit costs, securities gains and losses, accelerated restricted stock expense, acquisition and integration costs, and debt termination expense.  See GAAP to Non-GAAP Reconciliation table.

(2)  Calculation reduces average equity by average intangible assets.  See GAAP to Non-GAAP Reconciliation table.

(3)  Excludes FDIC loss sharing expense, securities gains and losses, accelerated restricted stock expense, OREO expenses, acquisition and integration costs, and debt termination expense. See GAAP to Non-GAAP Reconciliation table.

Net earnings for the year ended December 31, 2013 were $45.1 million, a decrease of $11.7 million compared to last year.  The decline in profitability was due mainly to: (a) the $24.3 million ($14.7 million after tax) increase in acquisition and integration costs, (b) the $12.3 million ($7.1 million after tax) increase in net credit costs, (c) the $12.4 million ($12.2 million after tax) accelerated vesting of restricted stock, and (d) the $12.1 million ($7.0 million after tax) increase, mostly from acquisitions, in compensation expense.  These items were offset by: (a) the $22.6 million ($13.1 million after tax) decrease in debt termination expense and (b) the $21.2 million ($12.3 million after tax) increase in net interest income.

BALANCE SHEET CHANGES

Total assets decreased $83.5 million during the fourth quarter of 2013 to $6.5 billion due mainly to decreases in total loans and leases, securities available-for-sale, the FDIC loss sharing asset, Federal Home Loan Bank stock, and goodwill.  At December 31, 2013 gross loans and leases totaled $4.3 billion, a decrease of $71.0 million since September 30, 2013.  The gross non-covered loan and lease portfolio totaled $3.9 billion, a decrease of $8.5 million during the fourth quarter reflecting $244.9 million in net pay downs offset by $236.4 million in originations and purchases.  The covered loan portfolio totaled $448.4 million, down $62.5 million during the fourth quarter due to repayments and resolution activities.  Securities available-for-sale declined $17.4 million, including the sale of $10.0 million in collateralized loan obligation securities, which resulted in a net loss of $272,000.

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The following table presents our loan portfolio activity for the fourth and third quarters of 2013:

(1) Includes two loans of a single lending relationship for $31.8 million that repaid on December 31, 2013.

Total liabilities decreased $76.3 million during the fourth quarter to $5.7 billion due to lower total deposits and liabilities of discontinued operations, offset by an increase in overnight FHLB advances.  The decrease in total deposits of $152.2 million was represented by decreases of $93.0 million and $59.2 million in core deposits and time deposits, respectively.  The decline in core deposits was attributable to decreases in our customers’ accounts due to year-end distributions and alternative investment opportunities; this decline was composed of decreases of $85.8 million and $10.2 million in money market deposits and noninterest-bearing demand deposits, respectively, offset by an increase of $2.7 million in interest checking deposits.  At December 31, 2013, core deposits totaled $4.6 billion, or 88% of total deposits, and noninterest-bearing demand deposits totaled $2.3 billion, or 44% of total deposits.

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SECURITIES AVAILABLE-FOR-SALE

The following table presents the components, yields, and durations of our securities available-for-sale as of the date indicated:

(1) Represents the yield for the month of December 2013.

(2) The tax equivalent yield was 4.46% and 2.97% for municipal securities and total securities available-for-sale, respectively.

The following table shows the geographic composition of our municipal securities portfolio as of the date indicated:

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COVERED ASSETS

We are party to four loss sharing agreements with the FDIC.  Such agreements cover a substantial portion of losses incurred on covered loans, other real estate owned, and certain investment securities.

A summary of covered assets is shown in the following table as of the dates indicated:

NET INTEREST INCOME

Net interest income declined by $1.0 million to $81.3 million for the fourth quarter compared to $82.3 million for the third quarter due primarily to lower interest income on loans and leases.  Interest income on loans and leases decreased $1.8 million due to lower accelerated accretion of acquisition discounts resulting from PCI loan payoffs, lower nonaccrual loan interest recoveries, and lower income from early lease payoffs.  Interest income on investment securities increased $551,000 due to a higher average portfolio balance and a higher rate of return; the improved yield on securities portfolio is a result of higher yielding securities purchased during the third quarter, the impact of which was fully realized in the fourth quarter, and lower premium amortization on mortgage-related securities due to slower prepayment speeds.  Interest expense declined by $271,000 due to a lower average rate and average balance for time deposits.

Net interest income increased $21.2 million to $297.7 million for the year ended December 31, 2013 compared to 2012; interest income increased $13.8 million and interest expense decreased $7.4 million.   Interest income on loans and leases increased $12.5 million due to a higher average loan and lease balance offset by a lower loan and lease yield.  The increase in the average loan and lease balance was due mainly to the acquisitions including FCAL in May 2013 and APB in August 2012.  The lower loan and lease yield was due to lower accelerated accretion of acquisition discounts resulting from PCI loan payoffs and lower income from early lease payoffs.  Interest income on investment securities increased $1.3 million due mostly to higher average portfolio balances from purchases during the year.  Interest expense on deposits decreased $5.4 million due mainly to a lower average rate and balances for time deposits.  Interest expense on borrowings declined $2.1 million due mostly to lower average borrowings; we repaid fixed-rate term FHLB advances at the end of the first quarter of 2012 and have used lower cost overnight FHLB advances as needed.

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NET INTEREST MARGIN

Our net interest margin (“NIM”) for the fourth quarter was 5.41% compared to 5.46% for the third quarter.  The five basis point decline in NIM was driven by a seven basis point decrease in our earning asset yield, offset by a two basis point decline in our cost of average funding sources.  The decrease in the earning asset yield was due to the 13 basis point decline in the loan and lease yield.

The NIM and loan yield are impacted by several items which cause volatility.  The effects of such items on the NIM and loan yield are shown in the following table for the periods indicated:

The yield on loans and leases declined to 6.77% for the fourth quarter from 6.90% for the third quarter due to lower accelerated accretion of acquisition discounts resulting from PCI loan payoffs, lower nonaccrual interest recoveries and lower income from early lease payoffs.  The accelerated accretion of acquisition discounts resulting from PCI loan payoffs totaled $1.4 million for the fourth quarter and $2.1 million for the third quarter, increasing the loan yields by 13 basis points and 19 basis points, respectively.   Total nonaccrual interest recoveries were $15,000 for the fourth quarter and $350,000 for the third quarter.  Total income from early lease payoffs was $52,000 for the fourth quarter and $299,000 for the third quarter.

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We analyze the yields on our loan and lease portfolio by two categories: (1) purchased credit impaired loans, which we refer to as “PCI loans” and (2) loans and leases excluding PCI loans, which we refer to as “Non-PCI loans.” PCI loans include acquired loans for which there is at the acquisition date evidence of credit deterioration since their origination and it is probable that we would be unable to collect all contractually required payments.  The PCI loans were mostly acquired in FDIC-assisted acquisitions in 2009 and 2010 and are covered by loss sharing agreements.  In addition, PCI loans include loans acquired in the FCAL acquisition, some of which are covered by other loss sharing agreements.

Non-PCI loans and leases include loans and leases that we originate and/or purchase and loans and leases acquired in non-FDIC assisted acquisitions for which there was no evidence of credit deterioration at their acquisition dates and it was probable as of the acquisition dates that we would be able to collect all contractually required payments. Non-PCI loans and leases include loans covered by loss sharing agreements with the FDIC in two circumstances: (a) covered loans that were performing at the acquisition date of a non-FDIC assisted transaction and (b) covered loans that have a revolving feature.

The following table presents the loan yields and related average balances for our Non-PCI loans, PCI loans, and total loan and lease portfolio for the periods indicated:

The cost of average funding sources declined two basis points to 0.18% for the fourth quarter from 0.20% for the third quarter.  This includes all-in deposit cost which declined one basis point to 0.11% for the fourth quarter.  The cost of total interest-bearing deposits decreased two basis points to 0.19% for the fourth quarter from 0.21% for the third quarter.  The cost of total interest-bearing liabilities declined two basis points to 0.32% for the fourth quarter.  Such declines are due mainly to a lower average rate on time deposits.

The NIM for the year ended December 31, 2013 was 5.37%, a decrease of 15 basis points from 5.52% for last year.  The decrease was due to lower yields on loans and leases and investment securities, offset in part by lower funding costs.

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The yield on average loans and leases decreased 47 basis points to 6.86% for the year ended December 31, 2013 compared to 7.33% for the prior year, due to lower accelerated accretion of acquisition discounts resulting from PCI loan payoffs, lower income on early repayment of leases, and lower yields on new loan and lease originations.  Accelerated accretion of acquisition discounts resulting from PCI loan payoffs totaled $4.4 million for the year ended December 31, 2013 and $7.6 million for the prior year, increasing the loan yields by 12 basis points and 21 basis points, respectively.  Total income from early lease payoffs was $1.3 million for the year ended December 31, 2013 and $2.4 million for the prior year.

All-in deposit cost declined 14 basis points to 0.15% for the year ended December 31, 2013 compared to last year.  The cost of interest-bearing deposits declined 21 basis points to 0.27% due to a lower rate on average time deposits and a shift in the deposit mix to lower cost interest-bearing checking, money market and savings deposits from higher cost time deposits.  The cost of total interest-bearing liabilities declined 26 basis points to 0.40% due to the reduction in the cost of time deposits and lower average fixed-rate borrowings; we repaid $225.0 million in fixed-rate term FHLB advances and redeemed $18.6 million in subordinated debentures in the first quarter of 2012.

NONINTEREST INCOME

Noninterest income declined by $9.0 million to a negative $3.9 million for the fourth quarter of 2013 from a positive $5.1 million for the prior quarter.  The decrease was due mostly to the $5.2 million non-taxable acquisition-related securities gain recorded in the third quarter that was not repeated in the fourth quarter and an increase in FDIC loss sharing expense.  The acquisition-related securities gain recognized our previously-held equity interest in FCAL common stock at its fair value as of the acquisition date.   The $3.6 million increase in FDIC loss sharing expense was due to higher amortization of the FDIC loss sharing asset and lower gains on the FDIC loss sharing asset as covered loan performance generally continues to improve in relation to initial expectations.

The Bank reviewed its exposure to potential losses in December under the proposed regulations, referred to as the Volcker rule, concerning investment securities and hedging activities. We identified securities totaling $11 million in our portfolio that may be negatively impacted by this rule.  In order to minimize the risk to the Company and the Bank in holding these securities, we sold $10 million of the securities in December and realized a $272,000 pre-tax loss. The remaining security, which is covered under a loss sharing agreement and which has a market value approximating its carrying value, will be sold if required under the Volcker rule. Neither the Company nor the Bank is engaged in any sort of hedging activity utilizing derivatives.

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The following table presents the details of FDIC loss sharing income (expense), net for the periods indicated:

(1) Includes increases related to covered loan loss provisions and decreases for: (a) write-offs for covered loans expected to be resolved at amounts higher than their carrying values, and (b) amounts to be reimbursed to the FDIC for covered loans resolved at amounts higher than their carrying values.

(2) Represents amounts to be reimbursed to the FDIC for gains on covered OREO sales and due from the FDIC for covered OREO write-downs.

Noninterest income declined by $11.7 million to $4.2 million during the year ended December 31, 2013 compared to $15.9 million for last year.  The decrease was due mainly to higher net FDIC loss sharing expense of $16.1 million in 2013 and the $5.2 million non-taxable acquisition-related securities gain recognized in 2013.  FDIC loss sharing expense, net, increased due to higher amortization of the FDIC loss sharing asset and lower net covered OREO costs, offset by a higher gain on the FDIC loss sharing asset.

NONINTEREST EXPENSE

Noninterest expense increased by $9.9 million to $66.1 million during the fourth quarter compared to $56.2 million during the third quarter due to the $12.4 million of expense from accelerated vesting of restricted stock, offset by the decreases in acquisition and integration costs and other professional services of $1.2 million and $516,000.  The decrease in other professional services was due mainly to lower legal expense for litigation and loans, none of which related to acquisition activity.  Excluding the accelerated vesting of restricted stock, acquisition and integration costs, and OREO expense, noninterest expense declined $1.2 million during the fourth quarter as we continue to make improvements in efficiency.  All operating expense categories declined, except for business development expense, which increased $236,000 as we made $297,000 in CRA donations in the fourth quarter.

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Noninterest expense includes: (a) amortization of restricted stock, which is included in compensation, and (b) intangible asset amortization.  Amortization of restricted stock, excluding the accelerated vesting of restricted stock, totaled $2.3 million for the fourth quarter and $2.4 million for the third quarter.  Intangible asset amortization totaled $1.4 million for the fourth quarter and $1.5 million for the third quarter.

The accelerated vesting of the restricted stock awards, which resulted in a pre-tax charge of $12.4 million ($12.2 million after tax), was made by the Company in December 2013 in order to eliminate an additional $21.0 million of compensation and tax expense related to change in control payments that the Company would otherwise incur in connection with the consummation of the pending merger with CapitalSource (the “Merger”).

The accelerated restricted stock vesting described above is in the best interests of the Company and its stockholders.  The restricted stock awards that were vested would otherwise have vested upon consummation of the Merger, assuming it is consummated, and the $12.2 million after-tax charge to earnings that we recorded in December 2013 would have been incurred at that time.  Although the Company incurred the $12.2 million after-tax charge for the vesting of the restricted stock awards, such action eliminated the additional $21.0 million of compensation and tax expense that would have been incurred by the Company at the consummation of the Merger.  Such expense relates to: (a) the vesting of certain restricted stock awards upon consummation of the Merger, and (b) the payment of excise taxes and tax gross-up payments and the value of lost tax deductions, in each case, due to the impact of Sections 280G and 4999 of the Internal Revenue Code, associated with change in control payments that become payable to PacWest employees in conjunction with the Merger.

Noninterest expense increased by $19.0 million to $230.7 million during the year ended December 31, 2013 compared to $211.7 million for last year.  This increase was due mostly to the combination of: (a) higher acquisition and integration costs of $24.3 million recognized in 2013; (b) accelerated vesting of restricted stock of $12.4 million; and (c) higher compensation expense of $12.1 million due to a higher employee count resulting from acquisition activity; offset by: (d) lower debt termination expense of $22.6 million as a result of the early repayments of FHLB advances and subordinated debentures in 2012; and (e) lower OREO expense of $12.4 million due mainly to lower write-downs.  Excluding the accelerated vesting of restricted stock, acquisition and integration costs, OREO expense, and debt termination expense, noninterest expense increased $17.3 million due to the bank acquisitions completed in August of 2012 and May of 2013.

Amortization of restricted stock, excluding the accelerated vesting of restricted stock, totaled $8.5 million and $5.7 million for the years ended December 31, 2013 and 2012, respectively.  Intangible asset amortization totaled $5.4 million for the year ended December 31, 2013 compared to $6.3 million for last year; the decrease was due to certain intangibles being fully amortized.

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INCOME TAXES

Our overall effective income tax rate was 74.1% for the fourth quarter and 31.8% for the third quarter.  The fourth quarter effective tax rate was driven higher than normal by the non-deductibility of most of the $12.4 million accelerated vesting of restricted stock. When this item is excluded, our adjusted effective tax rate is 36.4% for the fourth quarter.

NET CREDIT COSTS

Net credit costs on a pre-tax basis are shown in the following table:

CREDIT QUALITY

Credit quality metrics remained stable quarter over quarter, with coverage ratios remaining strong.  Economic trends in our markets will cause periodic movements in nonaccrual and classified loan and lease balances.  However, losses on such nonaccrual and classified loans and leases are not expected to be material.

(1) Classified loans and leases are those with a credit risk rating of substandard or doubtful.

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Non-PCI loans and leases at December 31, 2013, include $1.1 billion in loans and leases acquired in acquisitions.  These acquired loans and leases were initially recorded at their estimated fair values and such initial fair values included an estimate of credit losses.  The allowance calculation for Non-PCI loans and leases includes an amount for credit deterioration on acquired loans and leases since their acquisition dates.  At December 31, 2013, the allowance for credit losses includes $607,000 attributed to these acquired loans and leases. When these acquired loans and leases are excluded from the total of Non-PCI loans and leases and the related allowance of $607,000 is excluded from the allowance for credit losses, the result is an adjusted coverage ratio of our allowance for credit losses for Non-PCI loans and leases of 2.34% at December 31, 2013; the comparable ratio at September 30, 2013 was 2.43%.

Credit Loss Provisions

The Company recorded a negative provision for credit losses of $1.3 million for the fourth quarter compared to a negative provision for credit losses of $4.2 million for the third quarter; such provisions relate to PCI loans only.

The provision, or negative provision, for credit losses on PCI loans results from decreases, or increases, in expected cash flows on such loans compared to those previously estimated.  Cash flows on PCI loans are estimated quarterly and are subject to change based on varying conditions with the underlying borrowers and collateral.  The negative provisions for credit losses on PCI loans in the fourth and third quarters were due to increases in both actual cash flows from early pay-offs and expected cash flows on PCI loans generally.

The provision level on Non-PCI loans and leases is generated by our allowance methodology, which reflects the level and trends of net charge-offs, the levels of nonaccrual and classified loans and leases, the migration of loans and leases into various risk classifications, and the level of outstanding loans and leases.  Based on such methodology, there was no provision for credit losses on Non-PCI loans and leases for the fourth and third quarters of 2013.

Nonperforming Assets

Nonperforming assets include nonaccrual loans and leases (excluding PCI loans, which are accounted for based on expected cash flows and considered accruing regardless of the payment status of the underlying loans) and OREO and totaled $98.6 million at December 31, 2013 compared to $106.8 million at September 30, 2013.  The ratio of nonperforming assets to Non-PCI loans and leases and OREO decreased to 2.48% at December 31, 2013 from 2.67% at September 30, 2013.

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The following table presents our Non-PCI nonaccrual loans and leases and accruing loans and leases past due between 30 and 89 days by portfolio segment and class as of the dates indicated:

The $4.1 million decrease in nonaccrual loans and leases (excluding PCI loans) during the fourth quarter of 2013 was attributable to (a) additions of $11.0 million, (b) charge-offs of $2.5 million, (c) other reductions, payoffs and returns to accrual status of $8.5 million, and (d) foreclosures of $4.1 million.

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Below is a summary of the ten largest lending relationships on nonaccrual status, excluding PCI loans and SBA-related loans, as of the date indicated:

(1) New nonaccrual in fourth quarter of 2013.

The following table presents the details of OREO as of the dates indicated:

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The following table presents OREO activity for the period indicated:

(1) Represents amounts due to participants and for guarantees, property taxes or any other prior lien positions.

REGULATORY CAPITAL MEASURES ARE ABOVE THE WELL-CAPITALIZED MINIMUMS

PacWest Bancorp and its wholly-owned banking subsidiary, Pacific Western Bank, each remained well capitalized as of the date indicated as shown in the following table: