QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 or TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended June 30, 2022 Commission File No. 001-36408 PACWEST BANCORP (Exact name of registrant as specified in its charter) Delaware 33-0885320 (State of Incorporation) (I.R.S. Employer Identification No.) UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Form 10-Q Indicate by check mark ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Form 10-Q QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 ☑ or TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 ☐ For the quarterly period ended March 31, 2022 Commission File No. 001-36408 PACWEST BANCORP (Exact name of registrant as specified in its charter) Delaware 33-0885320 (State of Incorporation) (I.R.S. Employer Identification No.) 9701 Wilshire Blv ...

Financial Performance - The Bank had a cumulative net loss of $155.3 million during the three fiscal years of 2021, 2020, and 2019, primarily due to a $1.47 billion goodwill impairment in Q1 2020 [108]. - The Bank's retained deficit was $1.5 billion as of December 31, 2021, which will require DFPI and FDIC approval for any further cash dividends to the Company [108]. - For the year ended December 31, 2021, the Company incurred $12.0 million in FDIC assessment expense [119]. Capital Requirements - The Company is subject to the Basel III capital framework, which mandates increased capital levels and introduces a new capital measure called CET1 [110]. - Under Basel III, the Company must maintain a CET1 capital ratio to risk-weighted assets, with most deductions made to CET1 [110]. - The Company has a minimum CET1 capital ratio of 4.5% to risk-weighted assets, with a capital conservation buffer of 2.5%, resulting in a required CET1 ratio of at least 7% [112]. - The capital conservation buffer is designed to absorb losses during economic stress, impacting dividend distributions if capital ratios fall below required levels [112]. - The Company is required to maintain a leverage ratio of at least 4% of Tier 1 capital to average consolidated assets [111]. - As of December 31, 2021, the carrying amount of subordinated debt totaled $863.3 million, with $131.0 million included in Tier 1 capital and $718.2 million in Tier 2 capital [115]. Dividend Restrictions - The ability to pay dividends is restricted by various factors, including covenants in subordinated debt agreements and regulatory authority [103]. - The Dodd-Frank Act requires the Company to act as a source of financial strength to the Bank, even in adverse financial conditions [96]. - The Company must obtain prior approval from the FRB before acquiring more than 5% of the voting shares of any bank [97]. - The Bank may declare dividends without DFPI and FDIC approval as long as total dividends do not exceed retained earnings or net earnings for the previous three fiscal years [108]. - The Company is required to notify the FRB prior to declaring dividends if net earnings are insufficient to fund the dividend amount [106]. Regulatory Compliance - The Dodd-Frank Act and its implementing regulations impose stringent regulatory requirements on financial institutions based on their size and scope of activities [100]. - The Company must comply with various consumer protection laws, which can result in significant liabilities if violated [126]. - The USA PATRIOT Act requires the Company to implement anti-money laundering policies, with serious consequences for non-compliance [130]. - The Gramm-Leach-Bliley Act mandates the Company to implement privacy policies regarding the disclosure of non-public personal information [137]. Security and Privacy Regulations - Federal regulators issued statements emphasizing the need for financial institutions to implement multiple layers of security controls to protect against compromised customer credentials [138]. - A joint rule established by federal bank regulatory agencies requires banking organizations to notify incidents of computer-security breaches, effective from April 1, 2022 [139]. - Several states, including California and Colorado, have enacted comprehensive data privacy legislation, enhancing consumer rights and imposing significant requirements on financial institutions [140]. - The California Consumer Privacy Act (CCPA) took effect on January 1, 2020, followed by the California Privacy Rights Act (CPRA) effective January 1, 2023, which grants consumers enhanced control over personal information [140]. - Colorado's Privacy Act, modeled after the CCPA, is set to take effect on July 1, 2023, marking a continued trend in state-level privacy legislation [140]. Regulatory Oversight - The Bank received a CRA rating of "Outstanding" as of its most recent examination, which is crucial for undertaking certain activities, including acquisitions [133]. - The Company continues to prepare annual stress tests of its capital and earnings under adverse conditions, which are evaluated by the FRB and FDIC [116]. - The SEC has recommended enhancements to its examination authority over investment advisers, which may impact PWAM, though the specific effects are currently uncertain [141].

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Form 10-Q QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 ☑ or TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 ☐ For the quarterly period ended September 30, 2021 Commission File No. 001-36408 PACWEST BANCORP (Exact name of registrant as specified in its charter) Delaware 33-0885320 (State of Incorporation) (I.R.S. Employer Identification No.) 9701 Wilshire ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Form 10-Q QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 ☑ or TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 ☐ For the quarterly period ended June 30, 2021 Commission File No. 001-36408 PACWEST BANCORP (Exact name of registrant as specified in its charter) Delaware 33-0885320 (State of Incorporation) (I.R.S. Employer Identification No.) 9701 Wilshire Blvd ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Form 10-Q QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 ☑ or TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 ☐ For the quarterly period ended March 31, 2021 Commission File No. 001-36408 PACWEST BANCORP (Exact name of registrant as specified in its charter) Delaware 33-0885320 (State of Incorporation) (I.R.S. Employer Identification No.) 9701 Wilshire Blv ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Form 10-K ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 or TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2020 Commission File No. 001-36408 PACWEST BANCORP (Exact name of registrant as specified in its charter) (State or other jurisdiction of incorporation or organization) (I.R.S. Employer Identification No.) Delaware ...