LOS ANGELES, April 23, 2020 (GLOBE NEWSWIRE) -- PacWest Bancorp (Nasdaq: PACW) (“PacWest” or the “Company”), parent company of Pacific Western Bank, announced today that due to the public health impact of the COVID-19 pandemic and to support the health and well-being of stockholders and other stakeholders, PacWest has changed the location of its Annual Meeting of Stockholders (the “Annual Meeting”) to be held on May 12, 2020 at 1:30 pm Pacific Time. The Annual Meeting will now be held virtually at www.virtualshareholdermeeting.com/PACW2020 on May 12, 2020 at 1:30 pm Pacific Time.

Stockholders who vote their shares by proxy do not need to attend the Annual Meeting.

Whether or not stockholders plan to attend the Annual Meeting, PacWest urges all stockholders of record as of the record date, March 16, 2020, to promptly submit their proxy by executing and returning the proxy card previously mailed to them or by voting by telephone or on the Internet by following the voting instructions printed on their proxy card.

Further information regarding the Annual Meeting can be found in the proxy statement and supplemental materials filed by PacWest with the Securities and Exchange Commission on March 27, 2020 and April 1, 2020. In addition, information about how stockholders of record can be admitted to and participate in the Annual Meeting are included in the Notice of Change of Location of Annual Meeting of Stockholders to be Held on May 12, 2020 included below and filed today with the Securities and Exchange Commission.

9701 Wilshire Boulevard, Suite 700
Beverly Hills, California 90212

ADDITIONAL INFORMATION REGARDING THE ANNUAL MEETING OF STOCKHOLDERS TO BE HELD ON TUESDAY, MAY 12, 2020

The following Notice of Change of Location relates to the proxy statement (the “Proxy Statement”) of PacWest Bancorp (the “Company”), dated March 27, 2020, in connection with the solicitation of proxies by the Board of Directors of the Company for use at the Annual Meeting of Stockholders to be held on Tuesday, May 12, 2020.  These definitive additional materials are being filed with the Securities and Exchange Commission and are being made available to stockholders on or about April 23, 2020

PLEASE READ THIS NOTICE CAREFULLY IN CONJUNCTION WITH THE PROXY STATEMENT.

NOTICE OF CHANGE OF LOCATION OF ANNUAL MEETING OF STOCKHOLDERS
TO BE HELD ON MAY 12, 2020

To the Stockholders of PacWest Bancorp:

NOTICE IS HEREBY GIVEN that, due to the public health impact of the coronavirus (COVID-19) pandemic, recommendations and orders from federal and California authorities, and to support the health and well-being of our stockholders, associates, directors and vendors, the location of the 2020 Annual Meeting of Stockholders (the “Annual Meeting”) of PacWest Bancorp (the “Company”) has been changed.  The previously announced date and time of the Annual Meeting (Tuesday, May 12, 2020 at 1:30 p.m., Pacific Time) will not change.  The Annual Meeting will be held solely by remote communication, in a virtual only format.   You will not be able to physically attend the Annual Meeting. 

As described in the Annual Meeting proxy materials previously filed with the Securities and Exchange Commission and posted on the Internet (the “proxy materials”), stockholders of record of our common stock as of the close of business on March 16, 2020, the record date, are entitled to participate in the Annual Meeting.  To be admitted to and participate in the virtual Annual Meeting, please visit www.virtualshareholdermeeting.com/PACW2020 on May 12, 2020 at 1:30 pm Pacific Time and login by entering the control number found on your Notice Regarding Internet Availability of Proxy Materials, proxy card, or on the voting instruction form that you previously received.  Once admitted, you may submit questions or vote during the Annual Meeting by following the instructions that will be available on the meeting website.

It is important that you read the proxy materials and we encourage you to vote your common stock promptly in advance of the Annual Meeting by one of the methods described in the proxy materials.  The proxy card included with the proxy materials will not be updated to reflect the change in location.  If you received a hard copy of the proxy card, you may continue to use the proxy card to vote your common stock in connection with the Annual Meeting.  Stockholders who have sent in proxies, or voted via telephone or internet, do not need to take any further action.

It is important that you vote promptly.  Whether or not you plan to attend the virtual Annual Meeting, we urge you to vote and submit your proxy before the Annual Meeting, please vote your common shares via the toll-free telephone number listed on the proxy card, the internet or by mail.

By Order of the Board of Directors,

Kori Ogrosky
Executive Vice President, General Counsel and Secretary
April 23, 2020

Important Notice Regarding the Availability of Proxy Materials for the Annual Meeting to be Held on May 12, 2020 at 1:30 p.m. Pacific Time:  Our Proxy Statement, along with our Annual Report on Form 10-K for the fiscal year ended December 31, 2019, are available on our investor relations site at http://www.pacwestbancorp.com/FinancialDocsYou may also access our proxy materials at www.proxyvote.com.

ABOUT PACWEST BANCORP

PacWest Bancorp is a bank holding company with over $26 billion in assets headquartered in Los Angeles, California, with executive offices in Denver, Colorado with one wholly-owned banking subsidiary, Pacific Western Bank (the “Bank”). The Bank has 74 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 or 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.

Contact:   Matthew P. Wagner
President and CEO
           Patrick J. Rusnak
Executive Vice President and CFO
Phone: 310-887-8520 714-989-4705