-----BEGIN PRIVACY-ENHANCED MESSAGE----- Proc-Type: 2001,MIC-CLEAR Originator-Name: webmaster@www.sec.gov Originator-Key-Asymmetric: MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB MIC-Info: RSA-MD5,RSA, R+utn72eC3gbgHDA1rGoOzxYBV7tRxkbX6Ig2K8CejjeoW1mZLG/utREj07VhJEH 1I0K4U8dX76Xi/QmavZ2HA== 0001104659-09-035350.txt : 20090716 0001104659-09-035350.hdr.sgml : 20090716 20090528141050 ACCESSION NUMBER: 0001104659-09-035350 CONFORMED SUBMISSION TYPE: CORRESP PUBLIC DOCUMENT COUNT: 1 FILED AS OF DATE: 20090528 FILER: COMPANY DATA: COMPANY CONFORMED NAME: PACWEST BANCORP CENTRAL INDEX KEY: 0001102112 STANDARD INDUSTRIAL CLASSIFICATION: NATIONAL COMMERCIAL BANKS [6021] IRS NUMBER: 330885320 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: CORRESP BUSINESS ADDRESS: STREET 1: 6110 EL TORDO CITY: RANCHO SANTA FE STATE: CA ZIP: 92067 BUSINESS PHONE: 8587563023 MAIL ADDRESS: STREET 1: 275 NORTH BREA BLVD CITY: BREA STATE: CA ZIP: 92821 FORMER COMPANY: FORMER CONFORMED NAME: FIRST COMMUNITY BANCORP /CA/ DATE OF NAME CHANGE: 19991229 CORRESP 1 filename1.htm

 

PacWest Bancorp

 

May 28, 2009

 

Ms. Hugh West, Accounting Branch Chief

Mr. Marc D. Thomas, Staff Accountant

Securities and Exchange Commission

Division of Corporation Finance

100 “F” Street N.E.

Washington, D.C.  20549

 

Re:

PacWest Bancorp

 

Form 10-K for the Fiscal Year Ended December 31, 2008 (the “Form 10-K”)

 

File No. 0-30747

 

Dear Messrs. West and Thomas:

 

On May 1, 2009, we sent to you our response to the SEC’s comment letter of April 6, 2009.  In this letter we seek to provide additional clarifying information with respect to two items in our response.

 

A.  The SEC’s comment number 1 and our response thereto addressed Non-GAAP disclosures.  In the Company’s Form 10-Q for the quarter ended March 31, 2009, we made a disclosure of the Company’s and the Bank’s tangible common equity ratios under the section titled “Regulatory Matters” on page 38 of the Form 10-Q.  Our future earnings releases and filings will treat any disclosures of tangible common equity as Non-GAAP disclosures.

 

B.  The SEC’s comment number 3 and our response thereto addressed a commercial nonaccrual loan whose borrower filed Chapter 11 bankruptcy in October 2008.  We believe we had at December 31, 2008, sufficient collateral based on the facts and circumstances known to us.  We continue to monitor this loan on a regular basis.

 

* * * * *

 

In connection with our above response, we acknowledge that:

 

·                  the Company is responsible for the adequacy and accuracy of the disclosure in the filing;

·                  staff comments or changes to disclosures in response to staff comments do not foreclose the Commission from taking any action with respect to the filing; and

·                  the Company may not assert staff comments as a defense in any proceeding initiated by the Commission or any person under the federal securities laws of the United States.

 


 

If you have any questions regarding the above responses, please contact me at (310) 728-1021.

 

Very truly yours,

 

 

 

/s/ Victor R. Santoro

 

 

 

Victor R. Santoro

 

Executive Vice President and

 

Chief Financial Officer

 

 

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