ACQUISITIONS (Tables)

12 Months Ended

Dec. 31, 2013

ACQUISITIONS

Schedule of balance sheets of the acquired entities presented at estimated fair value as of their respective acquisition dates

	Acquisition and Date Acquired
	First California Financial Group		American Perspective Bank		Celtic Capital Corporation		Pacific Western Equipment Finance
	May 31, 2013		August 1, 2012		April 3, 2012		January 3, 2012
	(In thousands)
Assets Acquired:
Cash and due from banks	$	6,124	$	3,370	$	3,435	$	7,092
Interest-earning deposits in financial institutions		266,889		10,081		—		—
Investment securities available-for-sale		4,444		48,887		—		—
FHLB stock		9,518		1,412		—		—
Loans and leases		1,049,613		197,279		54,963		140,959
Other real estate owned		13,772		1,561		—		—
Premises and equipment		15,322		—		—		—
FDIC loss sharing asset		17,241		—		—		—
Cash surrender value of life insurance		13,265		—		—		—
Goodwill		129,070		15,047		6,645		19,033
Core deposit and customer relationship intangibles		7,927		1,924		1,300		1,700
Other intangible assets		—		—		670		1,420
Leases in process		—		—		—		19,162
Other assets		47,671		4,234		69		467
Total assets acquired	$	1,580,856	$	283,795	$	67,082	$	189,833
Liabilities Assumed:
Noninterest-bearing deposits	$	361,166	$	40,673	$	—	$	—
Interest-bearing deposits		739,713		178,891		—		—
Borrowings from parent		—		—		—		128,677
Other borrowings		—		5,315		46,804		15,839
Subordinated debentures		24,061		—		—		—
Discontinued operations		184,619		—		—		—
Accrued interest payable and other liabilities		19,729		840		2,278		10,317
Total liabilities assumed	$	1,329,288	$	225,719	$	49,082	$	154,833
Total consideration paid	$	251,568	$	58,076	$	18,000	$	35,000
Summary of consideration:
Cash paid	$	—	$	58,076	$	18,000	$	35,000
PacWest common stock issued		242,268		—		—		—
Cancellation of FCAL common stock owned by
PacWest (at acquisition date fair value)		9,300		—		—		—
Total	$	251,568	$	58,076	$	18,000	$	35,000

Schedule of pro forma results of operations

	Year Ended December 31,
	2013		2012
	(In thousands, except per share date)
Pro forma revenues (net interest income plus noninterest income)	$	325,801	$	370,115
Pro forma net earnings from continuing operations	$	52,640	$	71,684
Pro forma net earnings from continuing operations per share:
Basic	$	1.16	$	1.58
Diluted	$	1.16	$	1.58