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STOCK COMPENSATION PLANS (Tables)
 12 Months Ended
Dec. 31, 2012
STOCK COMPENSATION PLANS  
Summary of restricted stock transactions

 

 

 
   Number of
Shares		   Weighted
Average
Fair Value
on Grant
Date		  

Unvested restricted stock, December 31, 2009

     1,095,417   $ 42.86  

Granted

     443,050     19.99  

Shares issued by the Company upon vesting

     (268,568 )   36.78  

Forfeited

     (39,317 )   45.82  
             

Unvested restricted stock, December 31, 2010

     1,230,582     35.86  

Granted

     692,900     20.50  

Shares issued by the Company upon vesting

     (203,174 )   30.13  

Forfeited

     (44,578 )   23.56  
             

Unvested restricted stock, December 31, 2011

     1,675,730     30.53  

Granted

     226,400     23.77  

Shares issued by the Company upon vesting

     (195,871 )   21.69  

Forfeited

     (7,978 )   22.31  
             

Unvested restricted stock, December 31, 2012

     1,698,281   $ 30.68  
             
Schedule of performance-based restricted stock awards

The total amount of unrecognized compensation expense related to all performance-based restricted stock for which amortization was suspended or has not commenced totaled $33.8 million at December 31, 2012 as presented in the following table:

 
   Number of
Shares
Outstanding		   Total
Unrecognized
Compensation
Expense		   Expiration
Date of
Award		  
 
   (Dollars in thousands)
  

Performance-based restricted stock granted in:

                    

2006

     275,000   $ 14,924     March 31, 2013  

2007

     205,000     11,259     March 31, 2017  

2008

     20,000     453     March 31, 2013  

2011

     350,000     7,161     March 31, 2016  
                 

Outstanding performance-based restricted stock awards

     850,000   $ 33,797        
                 
Summary of information about outstanding time-based and performance-based restricted stock awards

The following table summarizes information about outstanding time-based and performance-based restricted stock awards at December 31, 2012:

 
   At Grant Date   Vested   Forfeited   Outstanding at December 31, 2012  
 
   Number
of
Shares
Grant		   Weighted
Average
Fair
Value		   Number
of
Shares
Vested		   Weighted
Average
Fair
Value
on
Grant
Date		   Number
of
Shares
Forfeited		   Weighted
Average
Fair
Value
on
Grant
Date		   Number
of
Shares
Outstanding		   Weighted
Average
Fair
Value
on
Grant
Date		   Weighted
Average
Fair
Value(1)
(000)		   Weighted
Average
Remaining
Contractual
Life
(Years)		  

Time-based restricted stock granted in:

                                                              

2008

     577,730   $ 29.52     516,639   $ 29.12     33,404   $ 31.42     27,687   $ 34.57   $ 686     0.1  

2009

     57,812   $ 15.88     55,646   $ 15.82     —   $ —     2,166   $ 17.37     54     0.5  

2010

     443,050   $ 19.99     141,022   $ 19.88     22,200   $ 22.03     279,828   $ 19.88     6,931     0.7  

2011

     342,900   $ 20.54     —   $ —     28,450   $ 21.76     314,450   $ 20.43     7,789     1.3  

2012

     226,400   $ 23.77     —   $ —     2,250   $ 22.23     224,150   $ 23.79     5,552     2.3  
                                                     

Outstanding time-based restricted stock awards

     1,647,892           713,307           86,304           848,281           21,012     1.3  
                                                     

Performance-based stock granted in:

                                                              

2006

     315,000   $ 54.27     —   $ —     40,000   $ 54.21     275,000   $ 54.27     6,812     0.3  

2007

     205,000   $ 54.92     —   $ —     —   $ —     205,000   $ 54.92     5,078     4.1  

2008

     20,000   $ 22.66     —   $ —     —   $ —     20,000   $ 22.66     495     0.3  

2011

     350,000   $ 20.46     —   $ —     —   $ —     350,000   $ 20.46     8,669     3.2  
                                                     

Outstanding performance-based restricted stock awards

     890,000           —           40,000           850,000           21,054     2.4  
                                                     

Total awards

     2,537,892           713,307           126,304           1,698,281         $ 42,066     1.9  
                                                     
(1)
Determined using the $24.77 closing price of PacWest common stock on December 31, 2012.