LOS ANGELES, Nov. 5, 2014 (GLOBE NEWSWIRE) -- PacWest Bancorp (Nasdaq:PACW) announced today that its Board of Directors has declared a quarterly cash dividend of $0.50 per common share, increased from $0.25 per common share last quarter. The cash dividend is payable on November 26, 2014 to stockholders of record at the close of business on November 17, 2014.
Matt Wagner, President and CEO of PacWest Bancorp, stated, "Our quarterly growth and earnings have been excellent and capital continues to build. We are pleased that this increased regular quarterly dividend provides a solid return to our stockholders."
ABOUT PACWEST BANCORP
PacWest Bancorp ("PacWest") is a bank holding company with over $15 billion in assets with one wholly-owned banking subsidiary, Pacific Western Bank ("Pacific Western"). Through 80 full-service branches located throughout the state of California, Pacific Western provides commercial banking services, including real estate, construction, and commercial loans, to small and medium-sized businesses. Its CapitalSource and Community Banking divisions, and its subsidiary CapitalSource Business Finance Group (formerly known as BFI Business Finance), deliver the full spectrum of financing solutions nationwide across numerous industries and property types. For more information about PacWest Bancorp, visit www.pacwestbancorp.com, or to learn more about Pacific Western Bank, visit www.pacificwesternbank.com.