425

UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

FORM 8-K

CURRENT REPORT
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934

Date of Report (Date of earliest
event reported) October 17, 2017

PacWest Bancorp

(Exact name of registrant as specified in its charter)

Delaware	001-36408	33-0885320
(State of	(Commission File Number)	(IRS Employer
Incorporation)		Identification No.)

9701 Wilshire Blvd., Suite 700, Beverly Hills, California 90212

(Address of principal executive offices and zip code)

(310) 887-8500

(Registrant’s telephone number, including area code)

N/A

(Former name or former address, if changed since last report)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):

x Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230-425)

o Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

o Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

o Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

Emerging growth company o

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. o

Item 2.02 Results of Operations and Financial Condition.*

On October 17, 2017, PacWest Bancorp announced its financial results for the three and nine months ended September 30, 2017.  The press release announcing the financial results for the three and nine months ended September 30, 2017 is furnished as Exhibit 99.1 and incorporated herein by reference. A presentation regarding the Company’s financial results for the three and nine months ended September 30, 2017 is furnished as Exhibit 99.2 and incorporated herein by reference.

Item 7.01  Regulation FD Disclosure.*

DFAST Results

On October 17, 2017, in accordance with the Dodd-Frank Wall Street Reform and Consumer Protection Act (the “Dodd-Frank Act”) and the regulations promulgated thereunder by the Board of Governors of the Federal Reserve System (“FRB”), PacWest Bancorp (the “Company”) disclosed the results of, and risks and assumptions relating to, the supervisory severely adverse scenario of its 2017 Dodd-Frank Act company-run stress test (“DFAST”) for the Company and its wholly-owned banking subsidiary, Pacific Western Bank (the “Bank”).

Results for both the Company and the Bank are available on PacWest’s website at www.pacwestbancorp.com under the “News and Market Data” section of the website.

A copy of the presentation disclosing the DFAST results is furnished as Exhibit 99.3 and incorporated herein by reference.

Item 8.01 Other Events.

The information set forth under the captions “CU Bancorp Merger Announcement” and “Forward Looking Statements” in the press release furnished as Exhibit 99.1 is incorporated by reference in this Item 8.01.

2

Item 9.01 Financial Statements and Exhibits.*

(d) Exhibits.

Exhibit Number	Description
99.1	Press release dated October 17, 2017 announcing PacWest’s results of operations and financial condition for the three and nine months ended September 30, 2017.
99.2	Earnings Release Presentation dated October 17, 2017
99.3	Presentation dated October 17, 2017 disclosing PacWest’s annual Dodd-Frank Act company-run stress test results.

*The information furnished under Item 2.02, 7.01, and Item 9.01 of this Current Report on Form 8-K, including the exhibits, shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended, or otherwise subject to the liabilities under that Section, nor shall it be deemed incorporated by reference in any registration statement or other filings of PacWest Bancorp under the Securities Act of 1933, as amended, except as shall be set forth by specific reference in such filing.

3

EXHIBIT INDEX

Exhibit Number	Description
99.1	Press release dated October 17, 2017 announcing PacWest’s results of operations and financial condition for the three and nine months ended September 30, 2017.
99.2	Earnings Release Presentation dated October 17, 2017
99.3	Presentation dated October 17, 2017 disclosing PacWest’s annual Dodd-Frank Act company-run stress test results.

4

SIGNATURE

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

PacWest Bancorp
By:	/s/ Bart R. Olson
Name:	Bart R. Olson
Title:	Executive Vice President

Date:  October 17, 2017

5

EX-99.1

Exhibit 99.1

Filed by PacWest Bancorp pursuant to Rule 425

under the Securities Act of 1933 and deemed

filed pursuant to Rule 14a-12 under the Securities Act of 1934

Subject Company: CU Bancorp

Commission File No.: 001-35683

PRESS RELEASE
PacWest Bancorp
(Nasdaq: PACW)
Contact:	Donald D. Destino
	Executive Vice President
	Corporate Development and Investor Relations
Phone:	310-887-8521

FOR IMMEDIATE RELEASE October 17, 2017

PACWEST BANCORP ANNOUNCES RESULTS

FOR THE THIRD QUARTER 2017

Highlights

·Net Earnings of $101.5 Million, or $0.84 Per Diluted Share

·New Loan and Lease Production of $1.0 Billion

·Core Deposits Increase of $314 Million and Represent 81% of Total Deposits

·Tax Equivalent Net Interest Margin of 5.08%

·All Approvals Received for CUB Acquisition; Expected to Close October 20

Los Angeles, California . . . PacWest Bancorp (Nasdaq: PACW) today announced net earnings for the third quarter of 2017 of $101.5 million, or $0.84 per diluted share, compared to net earnings for the second quarter of 2017 of $93.6 million, or $0.77 per diluted share. The increase in net earnings from the prior quarter was primarily due to lower income tax expense partially offset by lower noninterest income and a higher provision for credit losses. Income tax expense for the third quarter was lower due to a $13.6 million reversal of a valuation allowance related to tax credits which, based on our latest analysis, are more likely than not to be utilized before they expire.

Matt Wagner, President and CEO, commented, “We delivered solid performance in the third quarter and continue to demonstrate our earning power. Our strong third quarter results produced a return on assets of 1.82% and a return on tangible equity of 16.85%.”

Mr. Wagner continued, “All required approvals have been received and we look forward to closing the CU Bancorp acquisition this week. We are excited about the exceptional core deposit franchise and opportunities for increased operating efficiencies provided by this transaction.”

1

FINANCIAL HIGHLIGHTS

	At or For the Three Months Ended									At or For the Nine Months Ended
	September 30,			June 30,						September 30,
Financial Highlights	2017			2017			Change			2017			2016			Change
	(Dollars in thousands, except per share data)
Net earnings	$	101,466		$	93,647		$	7,819		$	273,781		$	266,519		$	7,262
Diluted earnings per share	$	0.84		$	0.77		$	0.07		$	2.26		$	2.19		$	0.07
Return on average assets	1.82		%	1.71		%	0.11			1.67		%	1.69		%	(0.02		)
Return on average tangible equity (1)	16.85		%	16.06		%	0.79			15.63		%	15.74		%	(0.11		)
Net interest margin (tax equivalent)	5.08		%	5.21		%	(0.13		)	5.15		%	5.37		%	(0.22		)
Efficiency ratio	40.4		%	40.3		%	0.1			40.7		%	39.7		%	1.0
Total assets	$	22,242,932		$	22,246,877		$	(3,945	)	$	22,242,932		$	21,315,291		$	927,641
Loans and leases held for investment, net of deferred fees	$	15,690,517		$	15,543,457		$	147,060		$	15,690,517		$	14,742,846		$	947,671
Noninterest-bearing deposits	$	6,911,874		$	6,701,039		$	210,835		$	6,911,874		$	6,521,946		$	389,928
Core deposits	$	13,531,300		$	13,217,574		$	313,726		$	13,531,300		$	12,010,639		$	1,520,661
Total deposits	$	16,773,245		$	16,874,977		$	(101,732	)	$	16,773,245		$	15,645,668		$	1,127,577
Noninterest-bearing deposits as percentage of total deposits	41		%	40		%	1			41		%	42		%	(1		)
Core deposits as percentage of total deposits	81		%	78		%	3			81		%	77		%	4
Equity to assets ratio	20.73		%	20.50		%	0.23			20.73		%	21.31		%	(0.58		)
Tangible common equity ratio (1)	12.02		%	11.75		%	0.27			12.02		%	12.19		%	(0.17		)
Book value per share	$	37.96		$	37.55		$	0.41		$	37.96		$	37.29		$	0.67
Tangible book value per share (1)	$	19.84		$	19.40		$	0.44		$	19.84		$	19.12		$	0.72

(1) Non-GAAP measure.

2

INCOME STATEMENT HIGHLIGHTS

Net Interest Income

Net interest income decreased by $0.8 million to $241.7 million for the third quarter of 2017 compared to $242.5 million for the second quarter of 2017 due mainly to interest expense growth exceeding interest income growth for the quarter. The loan and lease yield was 6.01% for the third quarter of 2017 compared to 6.07% for the second quarter of 2017.  The decrease in the loan and lease yield was principally due to the decrease in discount accretion on acquired loans and lower loan fee income.  Total discount accretion on acquired loans was $5.5 million in the third quarter of 2017 compared to $7.5 million in the second quarter of 2017.

The tax equivalent NIM was 5.08% for the third quarter of 2017 compared to 5.21% for the second quarter of 2017.  The decrease in the NIM was mostly due to the decrease in discount accretion on acquired loans and loan fee income and a higher cost of average interest-bearing liabilities. Total discount accretion on acquired loans contributed 11 basis points to the NIM for the third quarter of 2017 and 16 basis points for the second quarter of 2017.

The cost of average total deposits increased to 0.31% for the third quarter of 2017 from 0.25% for the second quarter of 2017 due to higher rates paid for non-core deposits and select large-balance deposit customers.

Noninterest Income

Noninterest income decreased by $3.9 million to $31.4 million for the third quarter of 2017 compared to $35.3 million for the second quarter of 2017 due mainly to a $3.3 million decrease in leased equipment income due to lower gains on early lease terminations and a $1.9 million decrease in other income as the second quarter included a BOLI death benefit and higher recoveries from third parties, offset by an increase in gain on sale of loans and leases of $2.2 million.

The following table presents details of noninterest income for the periods indicated:

	Three Months Ended
	September 30,		June 30,		Increase
Noninterest Income	2017		2017		(Decrease)
	(In thousands)
Service charges on deposit accounts	$	3,465	$	3,510	$	(45	)
Other commissions and fees	9,944		10,583		(639		)
Leased equipment income	8,332		11,635		(3,303		)
Gain on sale of loans and leases	2,848		649		2,199
Gain on sale of securities	1,236		1,651		(415		)
Other income:
Dividends and realized gains on equity investments	1,845		1,587		258
Warrant income	731		815		(84		)
Other	2,981		4,852		(1,871		)
Total noninterest income	$	31,382	$	35,282	$	(3,900	)

3

Noninterest Expense

Noninterest expense increased by $0.8 million to $118.5 million for the third quarter of 2017 compared to $117.7 million for the second quarter of 2017 due mostly to a $2.3 million increase in foreclosed assets expense offset by decreases in several expense categories. The increase in foreclosed assets expense was due to a write-down of $2.1 million on foreclosed property.

The following table presents details of noninterest expense for the periods indicated:

	Three Months Ended
	September 30,		June 30,			Increase
Noninterest Expense	2017		2017			(Decrease)
			(In thousands)
Compensation	$	64,413	$	65,288		$	(875	)
Occupancy	12,729		11,811			918
Data processing	6,459		6,337			122
Other professional services	4,213		3,976			237
Insurance and assessments	4,702		4,856			(154		)
Intangible asset amortization	3,049		3,065			(16		)
Leased equipment depreciation	4,862		5,232			(370		)
Foreclosed assets expense (income), net	2,191		(157		)	2,348
Acquisition, integration and reorganization costs	1,450		1,700			(250		)
Loan expense	3,421		3,884			(463		)
Other	11,053		11,715			(662		)
Total noninterest expense	$	118,542	$	117,707		$	835

Income Taxes

The overall effective income tax rate was 27.2% for the third quarter of 2017 and 37.0% for the second quarter of 2017.  The effective rate for the third quarter was lower due to the $13.6 million reversal of a valuation allowance related to tax credits which, based on our latest analysis, are more likely than not to be utilized before they expire. The estimated effective tax rate for the full year 2017 is approximately 35%.

BALANCE SHEET HIGHLIGHTS

Loans and Leases

Total loans and leases held for investment, net of deferred fees, increased by $147.1 million in the third quarter to $15.7 billion at September 30, 2017.  The net increase was driven mainly by third quarter new production of $1.0 billion and disbursements of $722.8 million, offset partially by payoffs of $903.4 million and paydowns of $637.7 million.

4

The following table presents a roll forward of loans and leases held for investment, net of deferred fees, for the periods indicated:

	Three Months Ended
Loans and Leases	September 30,			June 30,
Held for Investment Roll Forward (1)	2017			2017
	(Dollars in thousands)
Balance, beginning of period	$	15,543,457		$	15,556,689
New production	1,002,887			1,077,929
Existing loans and leases:
Payoffs	(903,395		)	(956,322		)
Paydowns	(637,674		)	(587,000		)
Disbursements	722,777			700,207
Sales (2)	(31,528		)	(45,976		)
Transfers to foreclosed assets	—			(502		)
Charge-offs	(6,007		)	(26,410		)
Transfers to loans held for sale	—			(175,158		)
Balance, end of period	$	15,690,517		$	15,543,457
Weighted average rate on new production	5.04		%	4.93		%

(1)Includes direct financing leases but excludes equipment leased to others under operating leases.

(2)Sales for the three months ended September 30, 2017 exclude sales of loans that were classified as loans held for sale at June 30, 2017.

The following table presents the composition of loans and leases held for investment, net of deferred fees, as of the dates indicated:

	September 30,		June 30,		March 31,		September 30,
Loan and Lease Portfolio	2017		2017		2017		2016
	(In thousands)
Real estate mortgage:
Commercial	$	4,338,933	$	4,418,463	$	4,420,923	$	4,327,565
Residential	1,850,324		1,719,269		1,554,946		1,242,254
Total real estate mortgage	6,189,257		6,137,732		5,975,869		5,569,819
Real estate construction and land:
Commercial	680,950		691,828		668,510		510,831
Residential	568,273		473,282		442,051		323,104
Total real estate construction and land	1,249,223		1,165,110		1,110,561		833,935
Total real estate	7,438,480		7,302,842		7,086,430		6,403,754
Commercial:
Cash flow	2,734,454		2,834,966		3,138,196		3,071,606
Asset-based	2,577,470		2,392,203		2,391,161		2,573,437
Venture capital	1,959,489		2,001,427		1,934,949		1,766,509
Equipment finance	594,473		613,550		623,237		670,783
Total commercial	7,865,886		7,842,146		8,087,543		8,082,335
Consumer	386,151		398,469		382,716		256,757
Total loans and leases held for investment, net of deferred fees (1)	$	15,690,517	$	15,543,457	$	15,556,689	$	14,742,846
Total unfunded loan commitments	$	5,037,084	$	4,926,743	$	4,497,373	$	4,156,147

(1) Excludes loans held for sale carried at lower of cost or fair value at June 30, 2017.

5

Deposits and Client Investment Funds

The following table presents the composition of our deposit portfolio as of the dates indicated:

	September 30,			June 30,			March 31,			September 30,
Deposit Category	2017			2017			2017			2016
	(Dollars in thousands)
Noninterest-bearing demand deposits	$	6,911,874		$	6,701,039		$	6,789,808		$	6,521,946
Interest checking deposits	1,957,485			1,762,016			1,509,902			1,184,350
Money market deposits	3,967,224			4,033,471			3,758,962			3,532,050
Savings deposits	694,717			721,048			710,401			772,293
Total core deposits	13,531,300			13,217,574			12,769,073			12,010,639
Non-core non-maturity deposits	1,118,694			1,329,324			1,154,070			1,082,114
Total non-maturity deposits	14,649,994			14,546,898			13,923,143			13,092,753
Time deposits $250,000 and under	1,770,439			1,940,872			1,998,597			2,091,747
Time deposits over $250,000	352,812			387,207			409,268			461,168
Total time deposits	2,123,251			2,328,079			2,407,865			2,552,915
Total deposits	$	16,773,245		$	16,874,977		$	16,331,008		$	15,645,668
Noninterest-bearing demand deposits as percentage of total deposits	41		%	40		%	42		%	42		%
Core deposits as percentage of total deposits	81		%	78		%	78		%	77		%

At September 30, 2017, core deposits totaled $13.5 billion, or 81% of total deposits, including $6.9 billion of noninterest-bearing demand deposits, or 41% of total deposits.

In addition to deposit products, we also offer alternative non-depository cash investment options for select clients; these alternatives include investments managed by Square 1 Asset Management, Inc. (“S1AM”), our registered investment advisor subsidiary, and third-party sweep products.  Total off-balance sheet client investment funds at September 30, 2017 were $1.9 billion, of which $1.6 billion was managed by S1AM.

PROVISION AND ALLOWANCE FOR CREDIT LOSSES

A provision for credit losses of $15.1 million was recorded in the third quarter of 2017 compared to $11.5 million in the second quarter of 2017.  The third quarter provision consisted of $15.5 million for non-purchased credit impaired (“Non-PCI”) loans and leases and a $0.4 million negative provision for PCI loans; this compares to a provision of $12.5 million and a negative provision of $1.0 million, respectively, for the second quarter of 2017.  The higher provision for the third quarter of 2017 was due mainly to loan risk rating downgrades combined with net portfolio growth.  The allowance for Non-PCI credit losses to Non-PCI loans and leases held for investment coverage ratio was 1.11% and 1.02% at September 30, 2017 and June 30, 2017.

6

The following tables show roll forwards of the allowance for credit losses for the periods indicated:

	Three Months Ended September 30, 2017
	Non-PCI
Allowance for Credit	Loans and			Unfunded		Total			PCI
Losses Rollforward	Leases			Commitments		Non-PCI			Loans			Total
						(In thousands)
Beginning balance	$	138,879		$	20,263	$	159,142		$	7,079		$	166,221
Charge-offs	(5,928		)	—		(5,928		)	(79		)	(6,007		)
Recoveries	4,865			—		4,865			217			5,082
Net charge-offs	(1,063		)	—		(1,063		)	138			(925		)
Provision	14,954			546		15,500			(381		)	15,119
Ending balance	$	152,770		$	20,809	$	173,579		$	6,836		$	180,415

	Three Months Ended June 30, 2017
	Non-PCI
Allowance for Credit	Loans and			Unfunded		Total			PCI
Losses Rollforward	Leases			Commitments		Non-PCI			Loans			Total
						(In thousands)
Beginning balance	$	149,826		$	17,763	$	167,589		$	11,481		$	179,070
Charge-offs	(22,951		)	—		(22,951		)	(3,459		)	(26,410		)
Recoveries	2,004			—		2,004			58			2,062
Net charge-offs	(20,947		)	—		(20,947		)	(3,401		)	(24,348		)
Provision	10,000			2,500		12,500			(1,001		)	11,499
Ending balance	$	138,879		$	20,263	$	159,142		$	7,079		$	166,221

The gross charge-offs for the third quarter of 2017 included $3.4 million for venture capital loans. Recoveries for the quarter included $2.6 million related to venture capital loans previously charged off in 2017. The annualized ratio of total net charge-offs to total average loans was 0.02% for the quarter ended September 30, 2017 and 0.40% for the nine months ended September 30, 2017.

7

CREDIT QUALITY

The following table presents Non-PCI loan and lease credit quality metrics as of the dates indicated:

	September 30,			June 30,			Increase
Non-PCI Credit Quality Metrics	2017			2017			(Decrease)
	(Dollars in thousands)
Nonaccrual loans and leases held for investment (1)	$	157,697		$	172,576		$	(14,879	)
Classified loans and leases held for investment (1)	344,777			339,977			4,800
Performing troubled debt restructured loans held for investment	56,552			55,910			642
Allowance for credit losses	173,579			159,142			14,437
Net charge-offs (for the quarter)	1,063			20,947			(19,884		)
Provision for credit losses (for the quarter)	15,500			12,500			3,000
Allowance for credit losses to loans and leases held for investment	1.11		%	1.02		%
Allowance for credit losses to nonaccrual loans and leases held for investment	110.1		%	92.2		%
Nonaccrual loans and leases held for investment to loans and leases held for investment	1.00		%	1.11		%
Nonperforming assets to loans and leases held for investment and foreclosed assets	1.08		%	1.20		%
Classified loans and leases held for investment to loans and leases held for investment	2.20		%	2.19		%

(1) Excludes loans held for sale carried at lower of cost or fair value at June 30, 2017.

The following table presents Non-PCI nonaccrual loans and leases and accruing loans and leases past due between 30 and 89 days by portfolio segment and class as of the dates indicated:

	Non-PCI Nonaccrual Loans and Leases								Non-PCI Accruing and
	September 30, 2017				June 30, 2017				30-89 Days Past Due
			% of				% of		September 30,		June 30,
			Loan				Loan		2017		2017
	Amount		Category		Amount		Category		Amount		Amount
	(Dollars in thousands)
Real estate mortgage:
Commercial	$	63,096	1.5	%	$	65,599	1.5	%	$	1,446	$	3,734
Residential	3,186		0.2	%	5,229		0.3	%	282		46
Total real estate mortgage	66,282		1.1	%	70,828		1.2	%	1,728		3,780
Real estate construction and land:
Commercial	—		0.0	%	—		0.0	%	—		—
Residential	—		0.0	%	—		0.0	%	—		—
Total real estate construction and land	—		0.0	%	—		0.0	%	—		—
Commercial:
Cash flow	33,514		1.2	%	43,169		1.5	%	72		201
Asset-based	3,977		0.2	%	1,718		0.1	%	—		—
Venture capital	22,686		1.2	%	25,278		1.3	%	2,720		23,171
Equipment finance	30,942		5.2	%	31,111		5.1	%	—		—
Total commercial	91,119		1.2	%	101,276		1.3	%	2,792		23,372
Consumer	296		0.1	%	472		0.1	%	286		—
Total held for investment (1)	$	157,697	1.0	%	$	172,576	1.1	%	$	4,806	$	27,152

(1) Excludes loans held for sale carried at lower of cost or fair value at June 30, 2017.

8

The following table presents nonperforming assets as of the dates indicated:

	September 30,			June 30,			Increase
Nonperforming Assets	2017			2017			(Decrease)
	(Dollars in thousands)
Nonaccrual Non-PCI loans and leases held for investment (1)	$	157,697		$	172,576		$	(14,879	)
Nonaccrual PCI loans held for investment	1,761			1,980			(219		)
Total nonaccrual loans and leases	159,458			174,556			(15,098		)
Foreclosed assets, net	11,630			13,278			(1,648		)
Total nonperforming assets	$	171,088		$	187,834		$	(16,746	)
Nonaccrual loans and leases held for investment to loans and leases held for investment	1.01		%	1.12		%
Nonperforming assets to loans and leases held for investment and foreclosed assets	1.09		%	1.20		%

(1) Excludes loans held for sale carried at lower of cost or fair value at June 30, 2017.

CU BANCORP MERGER ANNOUNCEMENT

On April 6, 2017, PacWest announced the signing of a definitive agreement and plan of merger (the “Agreement”) whereby PacWest will acquire CU Bancorp (“CUB”) in a transaction valued at approximately $705 million as of the announcement date.

CUB, headquartered in Los Angeles, California, is the parent of California United Bank (“CU Bank”), a California state-chartered non-member bank, with approximately $3.0 billion in assets and nine branches located in Los Angeles, Orange, Ventura, and San Bernardino counties at June 30, 2017. In connection with the acquisition, CU Bank will be merged into Pacific Western Bank, the principal operating subsidiary of PacWest.

The acquisition, which has been approved by the PacWest and CUB boards of directors and bank regulatory authorities, is expected to close on October 20, 2017.

ABOUT PACWEST BANCORP

PacWest Bancorp (“PacWest”) is a bank holding company with over $22 billion in assets with one wholly-owned banking subsidiary, Pacific Western Bank (the “Bank”). The Bank has 74 full-service branches located throughout the state of California and one branch in Durham, North Carolina. We provide commercial banking services, including real estate, construction, and commercial loans, and comprehensive deposit and treasury management services to small and medium-sized businesses.  We offer additional products and services through our CapitalSource and Square 1 Bank divisions. Our CapitalSource Division provides cash flow, asset-based, equipment and real estate loans and treasury management services to established middle market businesses on a national basis.  Our Square 1 Bank Division offers a comprehensive suite of financial services focused on entrepreneurial businesses and their venture capital and private equity investors, with offices located in key innovation hubs across the United States.  For more information about PacWest Bancorp, visit www.pacwestbancorp.com, or to learn more about Pacific Western Bank, visit www.pacificwesternbank.com.

9

FORWARD LOOKING STATEMENTS

This release contains certain “forward-looking statements” about the Company and its subsidiaries within the meaning of the Private Securities Litigation Reform Act of 1995, including forward-looking statements relating to the Company’s current business plans and expectations regarding future operating results and metrics and including statements about our expectations regarding our pending merger between the Company and CUB. All statements contained in this release that are not clearly historical in nature are forward-looking, and the words “anticipate,” “assume,” “intend,” “believe,” “forecast,” “expect,” “estimate,” “plan,” “continue,” “will,” “should,” “look forward” and similar expressions are generally intended to identify forward-looking statements. All forward-looking statements (including statements regarding future financial and operating results and future transactions and their results) involve risks, uncertainties and contingencies, many of which are beyond our control, which may cause actual results, performance, or achievements to differ materially from anticipated results, performance or achievements. These risks and uncertainties include, but are not limited to, our ability to compete effectively against other financial institutions in our banking markets; the impact of changes in interest rates or levels of market activity, especially on our loan and investment portfolios; deterioration, weaker than expected improvement, or other changes in the state of the economy or the markets in which we conduct business (including the levels of IPOs and M&A activities); changes in credit quality and the effect of credit quality on our provision for loan and lease losses and allowance for loan and leases losses; our ability to attract deposits and other sources of funding or liquidity; our capital requirements and our ability to generate capital internally or raise capital on favorable terms; the costs and effects of legal, compliance and regulatory actions, changes and developments, including the impact of adverse judgments or settlements in litigation, the initiation and resolution of regulatory or other governmental inquiries or investigations, and/or the results of regulatory examinations or reviews; the Company’s ability to complete the pending CUB acquisition, or any future acquisition, successfully integrate such acquired entities, or achieve expected beneficial synergies and/or operating efficiencies, in each case within expected timeframes or at all; and our success at managing the risks involved in the foregoing items and all other factors set forth in the Company’s public reports, including the Annual Report on Form 10-K for the year ended December 31, 2016, and particularly the discussion of risk factors within that document.

All forward-looking statements included in this release are based on information available at the time of the release. We are under no obligation to (and expressly disclaim any such obligation to) update or alter our forward-looking statements, whether as a result of new information, future events or otherwise except as required by law.

10

PACWEST BANCORP AND SUBSIDIARIES

CONDENSED CONSOLIDATED BALANCE SHEET

	September 30,			June 30,			December 31,
	2017			2017			2016
	(Dollars in thousands, except per share data)
ASSETS:
Cash and due from banks	$	147,579		$	180,330		$	337,965
Interest-earning deposits in financial institutions	122,439			107,150			81,705
Total cash and cash equivalents	270,018			287,480			419,670
Securities available-for-sale, at estimated fair value	3,532,230			3,474,560			3,223,830
Federal Home Loan Bank stock, at cost	17,250			22,059			21,870
Total investment securities	3,549,480			3,496,619			3,245,700
Loans held for sale	—			175,158			—
Non-PCI loans and leases	15,693,776			15,536,735			15,412,092
PCI loans	62,509			72,445			108,445
Total gross loans and leases held for investment	15,756,285			15,609,180			15,520,537
Deferred fees, net	(65,768		)	(65,723		)	(64,583		)
Total loans and leases held for investment, net of deferred fees	15,690,517			15,543,457			15,455,954
Allowance for loan and lease losses	(159,606		)	(145,958		)	(157,238		)
Total loans and leases held for investment, net	15,530,911			15,397,499			15,298,716
Equipment leased to others under operating leases	233,866			203,212			229,905
Premises and equipment, net	28,910			29,108			38,594
Foreclosed assets, net	11,630			13,278			12,976
Deferred tax asset, net	65,321			70,354			94,112
Goodwill	2,173,949			2,173,949			2,173,949
Core deposit and customer relationship intangibles, net	27,188			30,237			36,366
Other assets	351,659			369,983			319,779
Total assets	$	22,242,932		$	22,246,877		$	21,869,767
LIABILITIES:
Noninterest-bearing deposits	$	6,911,874		$	6,701,039		$	6,659,016
Interest-bearing deposits	9,861,371			10,173,938			9,211,595
Total deposits	16,773,245			16,874,977			15,870,611
Borrowings	250,399			217,454			905,812
Subordinated debentures	448,126			445,743			440,744
Accrued interest payable and other liabilities	160,494			148,798			173,545
Total liabilities	17,632,264			17,686,972			17,390,712
STOCKHOLDERS’ EQUITY (1)	4,610,668			4,559,905			4,479,055
Total liabilities and stockholders’ equity	$	22,242,932		$	22,246,877		$	21,869,767
Book value per share	$	37.96		$	37.55		$	36.93
Tangible book value per share (2)	$	19.84		$	19.40		$	18.71
Shares outstanding	121,449,794			121,448,321			121,283,669

(1) Includes net unrealized gain on securities available-for-sale, net	$	33,613	$	29,729	$	5,982
(2) Non-GAAP measure.

11

PACWEST BANCORP AND SUBSIDIARIES

CONDENSED CONSOLIDATED STATEMENT OF EARNINGS

	Three Months Ended									Nine Months Ended September 30,
	September 30,			June 30,			September 30,
	2017			2017			2016			2017			2016
	(Dollars in thousands, except per share data)
Interest income:
Loans and leases	$	235,666		$	234,618		$	225,370		$	694,462		$	686,071
Investment securities	24,762			24,689			22,187			72,490			67,154
Deposits in financial institutions	538			237			298			967			914
Total interest income	260,966			259,544			247,855			767,919			754,139
Interest expense:
Deposits	13,071			10,205			7,247			31,653			24,143
Borrowings	188			1,066			695			2,272			1,628
Subordinated debentures	6,017			5,800			5,278			17,379			15,382
Total interest expense	19,276			17,071			13,220			51,304			41,153
Net interest income	241,690			242,473			234,635			716,615			712,986
Provision for credit losses	15,119			11,499			8,471			51,346			42,514
Net interest income after provision for credit losses	226,571			230,974			226,164			665,269			670,472
Noninterest income:
Service charges on deposit accounts	3,465			3,510			3,488			10,733			10,977
Other commissions and fees	9,944			10,583			12,528			30,917			35,090
Leased equipment income	8,332			11,635			8,538			29,442			25,305
Gain on sale of loans and leases	2,848			649			157			4,209			790
Gain on sale of securities	1,236			1,651			382			2,788			8,970
FDIC loss sharing expense, net	—			—			—			—			(8,917		)
Other income	5,557			7,254			1,827			23,689			11,365
Total noninterest income	31,382			35,282			26,920			101,778			83,580
Noninterest expense:
Compensation	64,413			65,288			62,661			194,581			185,900
Occupancy	12,729			11,811			12,010			36,148			36,835
Data processing	6,459			6,337			6,234			19,811			17,782
Other professional services	4,213			3,976			4,625			11,567			11,598
Insurance and assessments	4,702			4,856			4,324			14,349			14,240
Intangible asset amortization	3,049			3,065			4,224			9,178			13,341
Leased equipment depreciation	4,862			5,232			5,298			15,719			15,608
Foreclosed assets expense (income), net	2,191			(157		)	(248		)	2,177			(812		)
Acquisition, integration and reorganization costs	1,450			1,700			—			3,650			200
Loan expense	3,421			3,884			1,931			10,692			6,231
Other expense	11,053			11,715			9,651			34,921			30,556
Total noninterest expense	118,542			117,707			110,710			352,793			331,479
Earnings before income taxes	139,411			148,549			142,374			414,254			422,573
Income tax expense	(37,945		)	(54,902		)	(48,479		)	(140,473		)	(156,054		)
Net earnings	$	101,466		$	93,647		$	93,895		$	273,781		$	266,519
Basic and diluted earnings per share	$	0.84		$	0.77		$	0.77		$	2.26		$	2.19

12

PACWEST BANCORP AND SUBSIDIARIES

NET EARNINGS PER SHARE CALCULATIONS

	Three Months Ended									Nine Months Ended
	September 30,			June 30,			September 30,			September 30,
	2017			2017			2016			2017			2016
	(In thousands, except per share data)
Basic Earnings Per Share:
Net earnings	$	101,466		$	93,647		$	93,895		$	273,781		$	266,519
Less: earnings allocated to unvested restricted stock (1)	(1,149		)	(1,080		)	(1,048		)	(3,239		)	(2,983		)
Net earnings allocated to common shares	$	100,317		$	92,567		$	92,847		$	270,542		$	263,536
Weighted-average basic shares and unvested restricted stock outstanding	121,447			121,422			121,818			121,405			121,739
Less: weighted-average unvested restricted stock outstanding	(1,394		)	(1,455		)	(1,401		)	(1,450		)	(1,425		)
Weighted-average basic shares outstanding	120,053			119,967			120,417			119,955			120,314
Basic earnings per share	$	0.84		$	0.77		$	0.77		$	2.26		$	2.19
Diluted Earnings Per Share:
Net earnings allocated to common shares	$	100,317		$	92,567		$	92,847		$	270,542		$	263,536
Weighted-average basic shares outstanding	120,053			119,967			120,417			119,955			120,314
Diluted earnings per share	$	0.84		$	0.77		$	0.77		$	2.26		$	2.19

(1)Represents cash dividends paid to holders of unvested stock, net of forfeitures, plus undistributed earnings amounts available to holders of unvested restricted stock, if any.

13

PACWEST BANCORP AND SUBSIDIARIES

AVERAGE BALANCE SHEET AND YIELD ANALYSIS

	Three Months Ended
	September 30, 2017						June 30, 2017						September 30, 2016
			Interest		Average				Interest		Average				Interest		Average
	Average		Income/		Yield/		Average		Income/		Yield/		Average		Income/		Yield/
	Balance		Expense		Cost		Balance		Expense		Cost		Balance		Expense		Cost
	(Dollars in thousands)
Assets:
PCI loans	$	60,126	$	3,308	21.83	%	$	68,759	$	4,643	27.08	%	$	117,781	$	5,868	19.82	%
Non-PCI loans and leases	15,514,904		232,510		5.95	%	15,429,162		229,975		5.98	%	14,417,170		219,502		6.06	%
Total loans and leases (1)	15,575,030		235,818		6.01	%	15,497,921		234,618		6.07	%	14,534,951		225,370		6.17	%
Investment securities (2)	3,510,956		29,495		3.33	%	3,436,785		29,538		3.45	%	3,338,209		27,025		3.22	%
Deposits in financial institutions	171,455		538		1.24	%	96,087		237		0.99	%	238,425		298		0.50	%
Total interest-earning assets	19,257,441		265,851		5.48	%	19,030,793		264,393		5.57	%	18,111,585		252,693		5.55	%
Other assets	2,880,433						2,905,809						2,960,468
Total assets	$	22,137,874					$	21,936,602					$	21,072,053
Liabilities and Stockholders’ Equity:
Interest checking	$	2,146,125	2,960		0.55	%	$	1,709,699	1,697		0.40	%	$	1,161,931	604		0.21	%
Money market	4,914,803		6,307		0.51	%	4,907,865		4,993		0.41	%	4,514,525		3,303		0.29	%
Savings	707,367		289		0.16	%	708,389		296		0.17	%	764,415		341		0.18	%
Time	2,256,259		3,515		0.62	%	2,366,399		3,219		0.55	%	2,666,434		2,999		0.45	%
Total interest-bearing deposits	10,024,554		13,071		0.52	%	9,692,352		10,205		0.42	%	9,107,305		7,247		0.32	%
Borrowings	61,071		188		1.22	%	457,774		1,066		0.93	%	583,982		695		0.47	%
Subordinated debentures	447,012		6,017		5.34	%	443,756		5,800		5.24	%	439,970		5,278		4.77	%
Total interest-bearing liabilities	10,532,637		19,276		0.73	%	10,593,882		17,071		0.65	%	10,131,257		13,220		0.52	%
Noninterest-bearing demand deposits	6,858,816						6,646,349						6,274,294
Other liabilities	153,932						151,095						135,801
Total liabilities	17,545,385						17,391,326						16,541,352
Stockholders’ equity	4,592,489						4,545,276						4,530,701
Total liabilities and stockholders’ equity	$	22,137,874					$	21,936,602					$	21,072,053
Net interest income (3)			$	246,575					$	247,322					$	239,473
Net interest spread (3)					4.75	%					4.92	%					5.03	%
Net interest margin (3)					5.08	%					5.21	%					5.26	%
Total deposits (4)	$	16,883,370	$	13,071	0.31	%	$	16,338,701	$	10,205	0.25	%	$	15,381,599	$	7,247	0.19	%
Funding sources (5)	$	17,391,453	$	19,276	0.44	%	$	17,240,231	$	17,071	0.40	%	$	16,405,551	$	13,220	0.32	%

(1) Starting with the third quarter of 2017, includes tax-equivalent adjustments related to tax-exempt interest on loans.

(2) Includes tax-equivalent adjustments of $4.7 million, $4.8 million, and $4.8 million for the three months ended September 30, 2017, June 30, 2017, and September 30, 2016 related to tax-exempt income on municipal securities.  The federal statutory tax rate utilized was 35% for the periods.

(3) Tax equivalent.

(4) Total deposits is the sum of total interest-bearing deposits and noninterest-bearing demand deposits.  The cost of total deposits is calculated as annualized interest expense on deposits divided by average total deposits.

(5) Funding sources is the sum of total interest-bearing liabilities and noninterest-bearing demand deposits. The cost of funding sources is calculated as annualized total interest expense divided by average funding sources.

14

PACWEST BANCORP AND SUBSIDIARIES

FIVE QUARTER BALANCE SHEET

	September 30,			June 30,			March 31,			December 31,			September 30,
	2017			2017			2017			2016			2016
	(Dollars in thousands, except per share data)
ASSETS:
Cash and due from banks	$	147,579		$	180,330		$	184,608		$	337,965		$	286,371
Interest-earning deposits in financial institutions	122,439			107,150			111,892			81,705			253,994
Total cash and cash equivalents	270,018			287,480			296,500			419,670			540,365
Securities available-for-sale	3,532,230			3,474,560			3,336,992			3,223,830			3,341,335
Federal Home Loan Bank stock	17,250			22,059			17,901			21,870			19,386
Total investment securities	3,549,480			3,496,619			3,354,893			3,245,700			3,360,721
Loans held for sale	—			175,158			—			—			—
Non-PCI loans and leases	15,693,776			15,536,735			15,526,518			15,412,092			14,686,206
PCI loans	62,509			72,445			96,353			108,445			120,221
Total gross loans and leases held for investment	15,756,285			15,609,180			15,622,871			15,520,537			14,806,427
Deferred fees, net	(65,768		)	(65,723		)	(66,182		)	(64,583		)	(63,581		)
Total loans and leases held for investment, net of deferred fees	15,690,517			15,543,457			15,556,689			15,455,954			14,742,846
Allowance for loan and lease losses	(159,606		)	(145,958		)	(161,307		)	(157,238		)	(147,976		)
Total loans and leases held for investment, net	15,530,911			15,397,499			15,395,382			15,298,716			14,594,870
Equipment leased to others under operating leases	233,866			203,212			224,580			229,905			198,931
Premises and equipment, net	28,910			29,108			28,908			38,594			38,977
Foreclosed assets, net	11,630			13,278			12,842			12,976			15,113
Deferred tax asset, net	65,321			70,354			88,765			94,112			27,073
Goodwill	2,173,949			2,173,949			2,173,949			2,173,949			2,173,949
Core deposit and customer relationship intangibles, net	27,188			30,237			33,302			36,366			39,542
Other assets	351,659			369,983			318,133			319,779			325,750
Total assets	$	22,242,932		$	22,246,877		$	21,927,254		$	21,869,767		$	21,315,291
LIABILITIES:
Noninterest-bearing deposits	$	6,911,874		$	6,701,039		$	6,789,808		$	6,659,016		$	6,521,946
Interest-bearing deposits	9,861,371			10,173,938			9,541,200			9,211,595			9,123,722
Total deposits	16,773,245			16,874,977			16,331,008			15,870,611			15,645,668
Borrowings	250,399			217,454			460,609			905,812			541,011
Subordinated debentures	448,126			445,743			442,516			440,744			441,112
Accrued interest payable and other liabilities	160,494			148,798			185,015			173,545			144,905
Total liabilities	17,632,264			17,686,972			17,419,148			17,390,712			16,772,696
STOCKHOLDERS’ EQUITY (1)	4,610,668			4,559,905			4,508,106			4,479,055			4,542,595
Total liabilities and stockholders’ equity	$	22,242,932		$	22,246,877		$	21,927,254		$	21,869,767		$	21,315,291
Book value per share	$	37.96		$	37.55		$	37.13		$	36.93		$	37.29
Tangible book value per share (2)	$	19.84		$	19.40		$	18.95		$	18.71		$	19.12
Shares outstanding	121,449,794			121,448,321			121,408,133			121,283,669			121,817,524

(1) Includes net unrealized gain on securities available-for-sale, net	$	33,613	$	29,729	$	12,718	$	5,982	$	72,073
(2) Non-GAAP measure.

15

PACWEST BANCORP AND SUBSIDIARIES

FIVE QUARTER STATEMENT OF EARNINGS

	Three Months Ended
	September 30,			June 30,			March 31,			December 31,			September 30,
	2017			2017			2017			2016			2016
	(Dollars in thousands, except per share data)
Interest income:
Loans and leases	$	235,666		$	234,618		$	224,178		$	238,223		$	225,370
Investment securities	24,762			24,689			23,039			23,403			22,187
Deposits in financial institutions	538			237			192			147			298
Total interest income	260,966			259,544			247,409			261,773			247,855
Interest expense:
Deposits	13,071			10,205			8,377			7,369			7,247
Borrowings	188			1,066			1,018			631			695
Subordinated debentures	6,017			5,800			5,562			5,468			5,278
Total interest expense	19,276			17,071			14,957			13,468			13,220
Net interest income	241,690			242,473			232,452			248,305			234,635
Provision for credit losses	15,119			11,499			24,728			23,215			8,471
Net interest income after provision for credit losses	226,571			230,974			207,724			225,090			226,164
Noninterest income:
Service charges on deposit accounts	3,465			3,510			3,758			3,557			3,488
Other commissions and fees	9,944			10,583			10,390			12,036			12,528
Leased equipment income	8,332			11,635			9,475			8,614			8,538
Gain on sale of loans and leases	2,848			649			712			119			157
Gain (loss) on sale of securities	1,236			1,651			(99		)	515			382
FDIC loss sharing expense, net	—			—			—			—			—
Other income	5,557			7,254			10,878			4,054			1,827
Total noninterest income	31,382			35,282			35,114			28,895			26,920
Noninterest expense:
Compensation	64,413			65,288			64,880			66,013			62,661
Occupancy	12,729			11,811			11,608			12,076			12,010
Data processing	6,459			6,337			7,015			6,574			6,234
Other professional services	4,213			3,976			3,378			4,880			4,625
Insurance and assessments	4,702			4,856			4,791			4,124			4,324
Intangible asset amortization	3,049			3,065			3,064			3,176			4,224
Leased equipment depreciation	4,862			5,232			5,625			5,291			5,298
Foreclosed assets expense (income), net	2,191			(157		)	143			2,693			(248		)
Acquisition, integration and reorganization costs	1,450			1,700			500			—			—
Loan expense	3,421			3,884			3,387			3,140			1,931
Other expense	11,053			11,715			12,153			10,655			9,651
Total noninterest expense	118,542			117,707			116,544			118,622			110,710
Earnings before income taxes	139,411			148,549			126,294			135,363			142,374
Income tax expense	(37,945		)	(54,902		)	(47,626		)	(49,716		)	(48,479		)
Net earnings	$	101,466		$	93,647		$	78,668		$	85,647		$	93,895
Basic and diluted earnings per share	$	0.84		$	0.77		$	0.65		$	0.71		$	0.77

16

PACWEST BANCORP AND SUBSIDIARIES

FIVE QUARTER SELECTED FINANCIAL DATA

	At or For the Three Months Ended
	September 30,			June 30,			March 31,			December 31,			September 30,
	2017			2017			2017			2016			2016
	(Dollars in thousands)
Performance Ratios:
Return on average assets (1)	1.82		%	1.71		%	1.47		%	1.59		%	1.77		%
Return on average equity (1)	8.77		%	8.26		%	7.08		%	7.57		%	8.24		%
Return on average tangible equity (1)(2)	16.85		%	16.06		%	13.90		%	14.88		%	16.15		%
Yield on average loans and leases (1)	6.01		%	6.07		%	5.94		%	6.31		%	6.17		%
Yield on average interest-earning assets (1)(3)	5.48		%	5.57		%	5.48		%	5.76		%	5.55		%
Cost of average total deposits (1)	0.31		%	0.25		%	0.21		%	0.19		%	0.19		%
Cost of average time deposits (1)	0.62		%	0.55		%	0.45		%	0.40		%	0.45		%
Cost of average interest-bearing liabilities (1)	0.73		%	0.65		%	0.59		%	0.52		%	0.52		%
Cost of average funding sources (1)	0.44		%	0.40		%	0.36		%	0.32		%	0.32		%
Net interest spread (1)(3)	4.75		%	4.92		%	4.89		%	5.24		%	5.03		%
Net interest margin (1)(3)	5.08		%	5.21		%	5.16		%	5.47		%	5.26		%
Efficiency ratio	40.4		%	40.3		%	41.4		%	40.1		%	40.1		%
Noninterest expense as a percentage of average assets (1)	2.15		%	2.15		%	2.18		%	2.20		%	2.09		%
Average Balances:
Loans and leases, net of deferred fees	$	15,575,030		$	15,497,921		$	15,297,044		$	15,008,268		$	14,534,951
Interest-earning assets	19,257,441			19,030,793			18,655,243			18,413,189			18,111,585
Total assets	22,137,874			21,936,602			21,645,534			21,427,950			21,072,053
Noninterest-bearing deposits	6,858,816			6,646,349			6,595,346			6,496,221			6,274,294
Interest-bearing deposits	10,024,554			9,692,352			9,330,235			9,327,080			9,107,305
Total deposits	16,883,370			16,338,701			15,925,581			15,823,301			15,381,599
Borrowings and subordinated debentures	508,083			901,530			1,038,424			946,474			1,023,952
Interest-bearing liabilities	10,532,637			10,593,882			10,368,659			10,273,554			10,131,257
Funding sources	17,391,453			17,240,231			16,964,005			16,769,775			16,405,551
Stockholders’ equity	4,592,489			4,545,276			4,503,675			4,501,948			4,530,701

(1) Annualized.

(2) Non-GAAP measure.

(3) Tax equivalent.

17

PACWEST BANCORP AND SUBSIDIARIES

FIVE QUARTER SELECTED FINANCIAL DATA

	At or For the Three Months Ended
	September 30,			June 30,			March 31,			December 31,			September 30,
	2017			2017			2017			2016			2016
	(Dollars in thousands)
Non-PCI Credit Quality:
Allowance for credit losses to loans and leases held for investment	1.11		%	1.02		%	1.08		%	1.05		%	1.05		%
Allowance for credit losses to nonaccrual loans and leases held for investment	110.1		%	92.2		%	96.9		%	94.5		%	90.1		%
Nonaccrual loans and leases held for investment to loans and leases held for investment	1.00		%	1.11		%	1.11		%	1.11		%	1.16		%
Nonperforming assets to loans and leases held for investment and foreclosed assets	1.08		%	1.20		%	1.20		%	1.19		%	1.27		%
Nonperforming assets to total assets	0.76		%	0.84		%	0.85		%	0.84		%	0.87		%
Trailing twelve month net charge-offs to average loans and leases held for investment	0.35		%	0.37		%	0.24		%	0.15		%	0.04		%
PacWest Bancorp Consolidated Capital:
Tier 1 leverage ratio (1)	12.02		%	11.90		%	11.87		%	11.91		%	12.13		%
Common equity tier 1 capital ratio (1)	12.52		%	12.28		%	12.31		%	12.31		%	12.83		%
Tier 1 capital ratio (1)	12.52		%	12.28		%	12.31		%	12.31		%	12.83		%
Total capital ratio (1)	15.74		%	15.42		%	15.56		%	15.56		%	16.18		%
Risk-weighted assets (1)	$	19,086,798		$	19,084,823		$	18,732,723		$	18,568,622		$	17,713,506
Equity to assets ratio	20.73		%	20.50		%	20.56		%	20.48		%	21.31		%
Tangible common equity ratio (2)	12.02		%	11.75		%	11.67		%	11.54		%	12.19		%
Book value per share	$	37.96		$	37.55		$	37.13		$	36.93		$	37.29
Tangible book value per share (2)	$	19.84		$	19.40		$	18.95		$	18.71		$	19.12
Pacific Western Bank Capital:
Tier 1 leverage ratio (1)	11.46		%	11.41		%	11.36		%	11.40		%	11.54		%
Common equity tier 1 capital ratio (1)	11.95		%	11.79		%	11.79		%	11.78		%	12.21		%
Tier 1 capital ratio (1)	11.95		%	11.79		%	11.79		%	11.78		%	12.21		%
Total capital ratio (1)	12.89		%	12.66		%	12.74		%	12.72		%	13.15		%
Equity to assets ratio	20.22		%	20.07		%	20.11		%	20.02		%	20.77		%
Tangible common equity ratio (2)	11.45		%	11.27		%	11.16		%	11.02		%	11.56		%

(1) Capital information for September 30, 2017 is preliminary.

(2) Non-GAAP measure.

18

GAAP TO NON-GAAP RECONCILIATION

This press release contains certain non-GAAP financial disclosures for: (1) return on average tangible equity, (2) tangible common equity ratio, and (3) tangible book value per share. The Company uses these non-GAAP financial measures to provide meaningful supplemental information regarding the Company’s operational performance and to enhance investors’ overall understanding of such financial performance.  In particular, the use of return on average tangible equity, tangible common equity ratio, and tangible book value per share is prevalent among banking regulators, investors and analysts.  Accordingly, we disclose the non-GAAP measures in addition to the related GAAP measures of: (1) return on average equity, (2) equity to assets ratio, and (3) book value per share.

The reconciliations for the following GAAP financial measures to the non-GAAP financial measures are presented below: (1) return on average equity to return on average tangible equity, (2) equity to assets ratio to tangible common equity ratio, and (3) book value per share to tangible book value per share.

PACWEST BANCORP AND SUBSIDIARIES

GAAP TO NON-GAAP RECONCILIATION

	Three Months Ended									Nine Months Ended
	September 30,			June 30,			September 30,			September 30,
Return on Average Tangible Equity	2017			2017			2016			2017			2016
	(Dollars in thousands)
Net earnings	$	101,466		$	93,647		$	93,895		$	273,781		$	266,519
Average stockholders’ equity	$	4,592,489		$	4,545,276		$	4,530,701		$	4,547,472		$	4,484,468
Less: Average intangible assets	2,202,922			2,205,814			2,217,564			2,205,927			2,222,346
Average tangible common equity	$	2,389,567		$	2,339,462		$	2,313,137		$	2,341,545		$	2,262,122
Return on average equity (1)	8.77		%	8.26		%	8.24		%	8.05		%	7.94		%
Return on average tangible equity (2)	16.85		%	16.06		%	16.15		%	15.63		%	15.74		%

(1) Annualized net earnings divided by average stockholders’ equity.

(2) Annualized net earnings divided by average tangible common equity.

19

PACWEST BANCORP AND SUBSIDIARIES

GAAP TO NON-GAAP RECONCILIATION

Tangible Common Equity Ratio/	September 30,			June 30,			March 31,			December 31,			September 30,
Tangible Book Value Per Share	2017			2017			2017			2016			2016
	(Dollars in thousands, except per share data)
PacWest Bancorp Consolidated:
Stockholders’ equity	$	4,610,668		$	4,559,905		$	4,508,106		$	4,479,055		$	4,542,595
Less: Intangible assets	2,201,137			2,204,186			2,207,251			2,210,315			2,213,491
Tangible common equity	$	2,409,531		$	2,355,719		$	2,300,855		$	2,268,740		$	2,329,104
Total assets	$	22,242,932		$	22,246,877		$	21,927,254		$	21,869,767		$	21,315,291
Less: Intangible assets	2,201,137			2,204,186			2,207,251			2,210,315			2,213,491
Tangible assets	$	20,041,795		$	20,042,691		$	19,720,003		$	19,659,452		$	19,101,800
Equity to assets ratio	20.73		%	20.50		%	20.56		%	20.48		%	21.31		%
Tangible common equity ratio (1)	12.02		%	11.75		%	11.67		%	11.54		%	12.19		%
Book value per share	$	37.96		$	37.55		$	37.13		$	36.93		$	37.29
Tangible book value per share (2)	$	19.84		$	19.40		$	18.95		$	18.71		$	19.12
Shares outstanding	121,449,794			121,448,321			121,408,133			121,283,669			121,817,524
Pacific Western Bank:
Stockholder’s equity	$	4,494,876		$	4,460,911		$	4,405,770		$	4,374,478		$	4,416,623
Less: Intangible assets	2,201,137			2,204,186			2,207,251			2,210,315			2,213,491
Tangible common equity	$	2,293,739		$	2,256,725		$	2,198,519		$	2,164,163		$	2,203,132
Total assets	$	22,225,420		$	22,223,320		$	21,910,720		$	21,848,644		$	21,266,705
Less: Intangible assets	2,201,137			2,204,186			2,207,251			2,210,315			2,213,491
Tangible assets	$	20,024,283		$	20,019,134		$	19,703,469		$	19,638,329		$	19,053,214
Equity to assets ratio	20.22		%	20.07		%	20.11		%	20.02		%	20.77		%
Tangible common equity ratio (1)	11.45		%	11.27		%	11.16		%	11.02		%	11.56		%

(1) Tangible common equity divided by tangible assets.

(2) Tangible common equity divided by shares outstanding.

20

EX-99.2

Exhibit 99.2

Filed by PacWest Bancorp pursuant to Rule 425

under the Securities Act of 1933 and deemed

filed pursuant to Rule 14a-12 under the Securities Act of 1934

Subject Company:  CU Bancorp

Commission File No.: 001-35683

2017 Third Quarter Results Earnings Release Presentation October 17, 2017

This communication contains certain “forward-looking statements” about PacWest Bancorp (the “Company”) and its subsidiaries within the meaning of the Private Securities Litigation Reform Act of 1995, including certain plans, strategies, goals, and projections and including statements about our expectations regarding our pending acquisition of CU Bancorp (“CUB”), allowance for loan and lease losses, credit trends, deposit growth, profitability, capital management, including reducing excess capital, interest rate risk ,and operating expenses. All statements contained in this communication that are not clearly historical in nature are forward-looking, and the words “anticipate,” “assume,” “intend,” “believe,” “forecast,” “expect,” “estimate,” “plan,” “continue,” “will,” “should,” “look forward” and similar expressions are generally intended to identify forward-looking statements. All forward-looking statements (including statements regarding future financial and operating results and future transactions and their results) involve risks, uncertainties and contingencies, many of which are beyond our control, which may cause actual results, performance, or achievements to differ materially from anticipated results, performance or achievements. Actual results could differ materially from those contained or implied by such forward-looking statements for a variety of factors, including without limitation: higher than anticipated delinquencies, charge-offs and loan and lease losses; reduced demand for our services due to strategic or regulatory reasons; changes in economic or competitive market conditions could negatively impact investment or lending opportunities or product pricing and services; credit quality deterioration or pronounced and sustained reduction in market values or other economic factors which adversely affect our borrowers’ ability to repay loans and leases and/or require an increased provision for loan and lease losses; compression of the net interest margin due to changes in our interest rate environment, loan products, spreads on newly originated loans and leases and/or asset mix; the impact of asset/liability repricing risk and liquidity risk on net interest margin and the value of investments; higher than anticipated increases in operating expenses; increased costs to manage and sell foreclosed assets; the need to retain capital for strategic or regulatory reasons; the financial performance of the Company; increased litigation; increased asset workout or loan servicing expenses; higher compensation costs and professional fees to retain and/or incent employees; our ability to complete the pending CUB acquisition, or any other future acquisition, and to successfully integrate such acquired entities or achieve expected benefits, synergies and/or operating efficiencies within expected timeframes or at all; the reaction to the pending CU Bancorp acquisition of the companies’ customers, employees and counterparties; the impact of the Dodd-Frank Wall Street Reform and Consumer Protection Act on our business and business strategies; and other risk factors described in documents filed by the Company with the U.S. Securities and Exchange Commission (“SEC”). All forward-looking statements included in this communication are based on information available at the time of the communication. Pro forma, projected and estimated numbers are used for illustrative purposes only and are not forecasts, and actual results may differ materially. We are under no obligation to (and expressly disclaim any such obligation to) update or alter our forward-looking statements, whether as a result of new information, future events or otherwise except as required by law. Forward-Looking Statements

Third Quarter Highlights 4 Investment Securities 9 Loans and Leases 11 Credit Quality 17 Deposits 21 Controlled Expenses 24 Non-GAAP Measurements 27 Presentation Index

Third Quarter Highlights

Third Quarter Highlights Robust Earnings Net earnings of $101.5 million EPS of $0.84 ROAA and ROATE of 1.82% and 16.85% (1) Q3 includes a $13.6 million reversal of a valuation allowance for tax credits Industry Leading Net Interest Margin Tax equivalent NIM of 5.08% Yield on average loans and leases of 6.01% Low Efficiency Ratio Efficiency ratio of 40.4% Average branch size of $224 million in deposits Noninterest expense to average assets of 2.15% Profitable Deposit Base Cost of average total deposits of 31 bps $314 million net core deposit growth Core deposits now represent 81% of total deposits Loan and Lease Production and Credit Quality Loan and lease production of $1.0 billion NPAs to total loans and leases and foreclosed assets, excluding PCI loans, of 1.08% compared to 1.20% at June 30, 2017 Non-PCI credit loss allowance of 1.11% Strong Capital Levels Tangible common equity ratio of 12.02% (1) CET1 and total capital ratios of 12.52% and 15.75% Tangible book value per share of $19.84 (1) See “Non-GAAP Measurements” slide on page 27.

Financial Highlights See “Non-GAAP Measurements” slide on page 27. ? ($ in millions, except per share amounts) 3Q17 2Q17 Q / Q Total Assets 22,243 $ 22,247 $ 0% Loans and Leases Held for Investment, net of deferred fees 15,691 $ 15,543 $ 1% Total Deposits 16,773 $ 16,875 $ -1% Core Deposits 13,531 $ 13,218 $ 2% Net Earnings 101.5 $ 93.6 $ 8% Earnings Per Share 0.84 $ 0.77 $ 9% Return on Average Assets ("ROAA") 1.82% 1.71% 0.11 Return on Average Tangible Equity ("ROATE") (1) 16.85% 16.06% 0.79 Tangible Common Equity Ratio (1) 12.02% 11.75% 0.27 Tangible Book Value Per Share (1) 19.84 $ 19.40 $ 2% Net Interest Margin 5.08% 5.21% -0.13 Efficiency Ratio 40.4% 40.3% 0.1

Solid Earnings Track Record ($ in millions, except Diluted EPS) 4Q15 1Q16 2Q16 3Q16 4Q16 1Q17 2Q17 3Q17 Net Earnings 71.8 $ 90.5 $ 82.2 $ 93.9 $ 85.6 $ 78.7 $ 93.6 $ 101.5 $ Diluted EPS 0.60 $ 0.74 $ 0.68 $ 0.77 $ 0.71 $ 0.65 $ 0.77 $ 0.84 $ $- $0.10 $0.20 $0.30 $0.40 $0.50 $0.60 $0.70 $0.80 $0.90 $0 $10 $20 $30 $40 $50 $60 $70 $80 $90 $100 $110 4Q15 1Q16 2Q16 3Q16 4Q16 1Q17 2Q17 3Q17 Diluted EPS Millions Net Earnings Diluted EPS

Source: SNL Financial. Peer data through 2Q17. Solid Capital Position – 3Q17 12.21% 11.38% 11.87% 12.12% 12.19% 11.54% 11.67% 11.75% 12.02% 8.67% 8.54% 8.77% 8.68% 8.79% 8.63% 8.60% 8.75% 3Q15 4Q15 1Q16 2Q16 3Q16 4Q16 1Q17 2Q17 3Q17 TCE / TA PACW Median Banks $15-$25B 12.04% 11.67% 11.51% 11.92% 12.13% 11.91% 11.87% 11.90% 12.02% 9.29% 9.16% 8.99% 9.06% 9.11% 9.21% 9.30% 9.27% 3Q15 4Q15 1Q16 2Q16 3Q16 4Q16 1Q17 2Q17 3Q17 T1 Leverage PACW Median Banks $15-$25B 16.32% 15.65% 15.96% 16.08% 16.18% 15.56% 15.56% 15.56% 15.75% 13.44% 13.20% 13.16% 13.09% 12.99% 13.22% 12.95% 13.17% 3Q15 4Q15 1Q16 2Q16 3Q16 4Q16 1Q17 2Q17 3Q17 Total Capital PACW Median Banks $15-$25B 12.74% 12.58% 12.63% 12.72% 12.83% 12.31% 12.31% 12.28% 12.52% 10.75% 10.68% 10.64% 10.67% 10.48% 11.26% 11.15% 11.00% 3Q15 4Q15 1Q16 2Q16 3Q16 4Q16 1Q17 2Q17 3Q17 CET1 PACW Median Banks $15-$25B

Investment Securities

3.33% overall portfolio tax equivalent yield (2) (1) Fair value (2) Yield is for 3Q17 Investment Portfolio Average Life and Effective Duration Municipal Securities Composition Diversified Investment Portfolio Collateralized Loan Obligations, $19.2mm, 1% SBA Securities, $168.0mm, 5% Agency Residential MBS, $377.5mm, 11% Agency Residential CMOs, $175.9mm, 5% Agency Commercial MBS, $995.9mm, 27% Private CMOs, $134.5mm, 4% Municipal Securities, $1,549.2mm, 44% Other, $111.9mm, 3% $3.5 Billion Total Portfolio (1) S&P Ratings % Total Issue Type % Total AAA 13% G.O. Limited 6% AA 78% G.O. Unlimited 46% A 3% Revenue 48% Not rated 6% 100% 100% Municipal Securities 6.1 6.1 7.0 6.7 6.8 4.7 4.8 5.7 5.7 5.9 3 4 5 6 7 8 3Q16 4Q16 1Q17 2Q17 3Q17 Years Average Life Effective Duration

Loans and Leases

Diversified Loan and Lease Portfolio Lender Finance & Timeshare Equipment Finance Healthcare Asset - Based Other Asset - Based Technology Cash Flow Healthcare Cash Flow Security Cash Flow General Cash Flow Commercial Real Estate Income Producing Residential Construction and Land Healthcare Real Estate Small Business Owner - Occupied Residential Venture Capital Other As of September 30, 2017 ($ in millions) $ Mix $ Mix Lender Finance & Timeshare 1,594 $ 10% 1,655 $ 11% Equipment Finance 595 4% 671 5% Healthcare Asset-Based 118 1% 174 1% Other Asset-Based 865 6% 744 5% Total Asset-Based 3,172 21% 3,244 22% Technology Cash Flow 916 6% 1,097 7% Healthcare Cash Flow 485 2% 752 5% Security Cash Flow 563 4% 417 3% General Cash Flow 549 4% 542 4% Total Cash Flow 2,513 16% 2,808 19% Commercial Real Estate 3,013 19% 2,899 19% Income Producing Residential 1,730 11% 960 7% Construction and Land 1,249 8% 1,071 7% Healthcare Real Estate 841 5% 834 6% Small Business 485 3% 468 3% Owner-Occupied Residential 120 1% 171 1% Total Real Estate 7,438 47% 6,403 43% Venture Capital 1,959 12% 1,767 12% Other 609 4% 521 4% Total Loans HFI (1) 15,691 $ 100% 14,743 $ 100% (1) Net of deferred fees and costs 9/30/2017 9/30/2016

Diversified Loan and Lease Portfolio Healthcare, $841mm, 11% SBA, $485mm, 7% Hospitality, $723mm, 10% Retail, $439mm, 6% Multifamily, $1,626mm, 22% Office, $842mm, 11% Owner - occupied, $749mm, 10% Construction, $1,249mm, 17% Other, $484mm, 6% Real Estate ($7.4B) Technology, $916mm, 37% Healthcare, $485mm, 19% Security, $563mm, 22% General, $549mm, 22% Cash Flow ($2.5B) Lender Finance & Timeshare, $1,594mm, 50% Equipment Finance, $595mm, 19% Healthcare, $118mm, 4% Other, $865mm, 27% Asset - Based ($3.2B) Later Stage, $263mm, 14% Expansion Stage, $891mm, 45% Equity Funds Group, $341mm, 17% Early Stage, $464mm, 24% Venture Capital ($2.0B)

Loan Types Construction- 78% in 4 projects Redevelopment in Chicago’s exclusive Gold Coast luxury retail district A Walmart Supercenter-anchored shopping center in Inland Empire region of Southern California Development in a high density Brooklyn retail neighborhood that includes an Apple Store, Whole Foods, J. Crew, etc. High traffic retail infill on Santa Monica Blvd. in Los Angeles Owner-Occupied Not adversely affected by rental market volatility SBA retail is 100% owner-occupied SBA guaranteed portions retained (75% avg. guarantee) CRE Traditional retail-focused commercial real estate lending including: CapitalSource Division $240mm portfolio of 13 loans across 10 states with $18.5mm average balance focused on lifestyle centers and urban luxury centers Community Bank Division $226mm portfolio almost entirely in California focused on suburban retail/strip centers (1) $5.2mm classified as of September 30, 2017 with related SBA guarantees of $1.9mm. Retail Real Estate Portfolio Overview Outstanding balance: $595mm(1)/3.8% of Loans

Loan and Lease Production of $1.0 Billion in 3Q17 ($ in millions) Production/ Disbursement Payoffs/ Paydowns Net Change Rate on Production 3Q17 1,725 $ 1,541 $ 184 $ 5.04% 2Q17 1,778 1,543 235 4.93% 1Q17 2,106 1,945 161 4.91% 4Q16 2,038 1,291 747 4.83% 3Q16 1,706 1,568 138 5.11% $1,072 $1,273 $1,049 $1,078 $1,003 $634 $765 $1,057 $700 $722 $925 $709 $1,213 $956 $903 $643 $582 $732 $587 $638 $1,706 $2,038 $2,106 $1,778 $1,725 1,568 1,291 1,945 1,543 1,541 4.0% 4.5% 5.0% 5.5% 6.0% $0 $500 $1,000 $1,500 $2,000 $2,500 Q3 Q4 Q1 Q2 Q3 2016 2017 Avg. Rate on Production Millions Production Disbursements Payoffs Paydowns Avg Production/Disbursement Avg Payoffs/Paydowns Rate on Production

Production by Industry / Loan Type ($ in millions) 3Q17 2Q17 1Q17 4Q16 Net Growth YTD 2017 Lender Finance and Timeshare 152 $ 18 $ 27 $ 146 $ (73) $ Equipment Finance 30 65 21 98 (97) Healthcare Asset-Based - - 1 - (63) Other Asset-Based 119 52 37 39 101 Asset-Based 301 135 86 283 (132) Technology Cash Flow 30 84 109 5 (132) Healthcare Cash Flow 21 46 27 57 (314) Security Cash Flow 63 21 57 14 123 General Cash Flow 44 45 15 62 (15) Cash Flow 158 196 208 138 (338) Commercial Real Estate 106 210 186 238 26 Income Producing and Residential Real Estate 204 239 300 132 536 Construction and Land 56 51 100 50 284 Healthcare Real Estate 17 46 11 88 (114) Small Business 15 25 21 10 31 Real Estate 398 571 618 518 763 Venture Capital 121 128 91 195 (29) Other 25 48 46 139 (30) Total 1,003 $ 1,078 $ 1,049 $ 1,273 $ 234 $

Credit Quality

Classified loans and leases are those with a credit risk rating of substandard or doubtful Allowance for credit losses includes allowance for loan and lease losses and reserve for unfunded commitments Non-PCI Credit Quality ($ in thousands) 3Q17 2Q17 1Q17 4Q16 3Q16 Nonaccrual Loans and Leases HFI $ 157,697 172,576 173,030 170,599 171,085 As a % of Loans and Leases HFI % 1.00% 1.11% 1.11% 1.11% 1.16% Nonperforming Assets $ 169,327 185,854 185,872 183,575 186,198 As a % of Loans and Leases & Foreclosed Assets % 1.08% 1.20% 1.20% 1.19% 1.27% Classified Loans and Leases HFI (1) $ 344,777 339,977 424,399 409,645 417,541 As a % of Loans and Leases HFI % 2.20% 2.19% 2.73% 2.66% 2.84% Credit Loss Provision $ 15,500 12,500 24,500 21,000 8,000 As a % of Average Loans and Leases (annualized) % 0.40% 0.33% 0.64% 0.56% 0.22% Trailing Twelve Months Net Charge-offs $ 53,991 56,802 36,287 21,990 6,480 As a % of Average Loans and Leases % 0.35% 0.37% 0.24% 0.15% 0.04% Allowance for Credit Losses (ACL) (2) $ 173,579 159,142 167,589 161,278 154,070 As a % of Loans and Leases HFI % 1.11% 1.02% 1.08% 1.05% 1.05% ACL / Nonaccrual Loans and Leases HFI % 110.08% 92.22% 96.86% 94.54% 90.06%

Key Credit Trends – Non-PCI Loans HFI 1.05% 1.05% 1.08% 1.02% 1.11% 3Q16 4Q16 1Q17 2Q17 3Q17 ACL / Loans and Leases 2.84% 2.66% 2.73% 2.19% 2.20% 3Q16 4Q16 1Q17 2Q17 3Q17 Classified Loans and Leases/ Average Loans and Leases 1.16% 1.11% 1.11% 1.11% 1.00% 3Q16 4Q16 1Q17 2Q17 3Q17 Nonaccrual Loans and Leases / Loans and Leases 1.27% 1.19% 1.20% 1.20% 1.08% 3Q16 4Q16 1Q17 2Q17 3Q17 NPAs / Loans and Leases and Foreclosed Assets

At September 30, 2017, the Company’s ten largest Non-PCI loan relationships on nonaccrual status had an aggregate book balance of $129 million and represented 82% of total Non-PCI nonaccrual loans and leases. Non-PCI Nonaccrual Loan and Lease Detail (1) Excludes loans held for sale at lower of cost or fair value at June 30, 2017. % of Loan % of Loan 9/30/2017 6/30/2017 ($ in thousands) Balance Category Balance Category Balance Balance Real estate mortgage: Commercial 63,096 $ 1.5% 65,599 $ 1.5% 1,446 $ 3,734 $ Residential 3,186 0.2% 5,229 0.3% 282 46 Total real estate mortgage 66,282 1.1% 70,828 1.2% 1,728 3,780 Real estate construction and land: Commercial - 0.0% - 0.0% - - Residential - 0.0% - 0.0% - - Total R.E. construction and land - 0.0% - 0.0% - - Commercial: Cash flow 33,514 1.2% 43,169 1.5% 72 201 Equipment finance 30,942 5.2% 31,111 5.1% - - Venture capital 22,686 1.2% 25,278 1.3% 2,720 23,171 Asset-based 3,977 0.2% 1,718 0.1% - - Total commercial 91,119 1.2% 101,276 1.3% 2,792 23,372 Consumer 296 0.1% 472 0.1% 286 - Total (1) 157,697 $ 1.0% 172,576 $ 1.1% 4,806 $ 27,152 $ 9/30/2017 Nonaccrual Loans and Leases 6/30/2017 Accruing and 30 -89 Days Past Due

Deposits

Does not include $1.9 billion of client investment funds held at September 30, 2017. Deposit Detail Core: 81% Core: 77% Noninterest - bearing demand deposits Interest checking deposits Money market deposits Savings deposits Non - core non - maturity deposits Time deposits $250,000 and under Time deposits over $250,000 September 30, 2017 Noninterest - bearing demand deposits Interest checking deposits Money market deposits Savings deposits Non - core non - maturity deposits Time deposits $250,000 and under Time deposits over $250,000 September 30, 2016 ($ in millions) Deposit Category Amount % of Total Amount % of Total Noninterest-bearing demand deposits 6,912 $ 41% 6,522 $ 42% Interest checking deposits 1,957 12% 1,185 8% Money market deposits 3,967 24% 3,532 22% Savings deposits 695 4% 772 5% Total core deposits 13,531 81% 12,011 77% Non-core non-maturity deposits 1,119 6% 1,082 7% Total non-maturity deposits 14,650 87% 13,093 84% Time deposits $250,000 and under 1,770 11% 2,092 13% Time deposits over $250,000 353 2% 461 3% Total time deposits 2,123 13% 2,553 16% Total deposits (1) 16,773 $ 100% 15,646 $ 100% September 30, 2017 September 30, 2016

Deposit Portfolio Includes brokered deposits of $710 million with a weighted average maturity of 5 months and a weighted average cost of 1.02%. $15.6 $15.9 $16.3 $16.9 $16.8 0.10% 0.20% 0.30% 0.40% 0.50% 0.60% 0.0 5.0 10.0 15.0 20.0 3Q16 4Q16 1Q17 2Q17 3Q17 Cost Balance ($ in Billions) Core Deposits Non-Core Deposits Cost of Interest-Bearing Deposits Cost of Total Deposits ($ in millions) Time Deposits Time Deposits Total $250,000 Over Time Contractual Time Deposit Maturities and Under $250,000 Deposits Rate Due in three months or less 607 $ 113 $ 720 $ 0.56% Due in over three months through six months 533 173 706 0.76% Due in over six months through twelve months 505 50 555 0.57% Due in over 12 months through 24 months 82 9 91 0.59% Due in over 24 months 43 8 51 0.58% Total 1,770 $ (1) 353 $ 2,123 $ 0.63% September 30, 2017

Controlled Expenses

Source: SNL Financial. Peer data through 2Q17. Efficiency Ratio Trend 36.9% 38.0% 39.6% 39.3% 38.5% 40.6% 40.1% 40.1% 41.4% 40.3% 40.4% 64.2% 63.4% 65.9% 63.2% 64.3% 62.8% 61.8% 63.0% 62.8% 62.9% 35.0% 40.0% 45.0% 50.0% 55.0% 60.0% 65.0% 70.0% 1Q15 2Q15 3Q15 4Q15 1Q16 2Q16 3Q16 4Q16 1Q17 2Q17 3Q17 PACW Efficiency Ratio Median Efficiency Ratio Banks $15-$25B

(1) Source: SNL Financial Focus and Execution Drive Efficiency 57.2% 55.0% 54.0% 56.4% 60.7% 41.6% 38.5% 39.8% 41.4% 40.3% 40.4% 2009 2010 2011 2012 2013 2014 2015 2016 1Q17 2Q17 3Q17 Efficiency Ratio (1) $60 $57 $60 $70 $72 $147 $193 $203 $218 $225 $224 2009 2010 2011 2012 2013 2014 2015 2016 1Q17 2Q17 3Q17 Average Branch Size ($ - M)

The Company uses certain non-GAAP financial measures to provide meaningful supplemental information regarding the Company’s operational performance and to enhance investors’ overall understanding of such financial performance. These non-GAAP financial measures should not be considered a substitute for financial measures presented in accordance with GAAP and may be different from non-GAAP financial measures used by other companies. The table below presents reconciliations of certain GAAP to non-GAAP financial measures: Non-GAAP Measurements ($ in thousands, except per share amounts) September 30, 2017 June 30, 2017 March 31, 2017 December 31, 2016 September 30, 2016 Tangible Common Equity Ratio & Tangible Book Value Per Share Stockholders' equity 4,610,668 $ 4,559,905 $ 4,508,106 $ 4,479,055 $ 4,542,595 $ Less: Intangible assets 2,201,137 2,204,186 2,207,251 2,210,315 2,213,491 Tangible common equity 2,409,531 $ 2,355,719 $ 2,300,855 $ 2,268,740 $ 2,329,104 $ Total assets 22,242,932 $ 22,246,877 $ 21,927,254 $ 21,869,767 $ 21,315,291 $ Less: Intangible assets 2,201,137 2,204,186 2,207,251 2,210,315 2,213,491 Tangible assets 20,041,795 $ 20,042,691 $ 19,720,003 $ 19,659,452 $ 19,101,800 $ Equity to assets ratio 20.73% 20.50% 20.56% 20.48% 21.31% Tangible common equity ratio (1) 12.02% 11.75% 11.67% 11.54% 12.19% Book value per share 37.96 $ 37.55 $ 37.13 $ 36.93 $ 37.29 $ Tangible book value per share (2) 19.84 $ 19.40 $ 18.95 $ 18.71 $ 19.12 $ Shares outstanding 121,449,794 121,448,321 121,408,133 121,283,669 121,817,524 Return on Average Tangible Equity Net earnings 101,466 $ 93,647 $ 78,668 $ 85,647 $ 93,985 $ Average stockholders' equity 4,592,489 $ 4,545,276 $ 4,503,675 $ 4,501,948 $ 4,530,701 $ Less: Average intangible assets 2,202,922 2,205,814 2,209,112 2,212,042 2,217,564 Average tangible common equity 2,389,567 $ 2,339,462 $ 2,294,563 $ 2,289,906 $ 2,313,137 $ Return on average equity 8.77% 8.26% 8.24% 8.05% 7.94% Return on average tangible equity (3) 16.85% 16.06% 13.90% 14.88% 16.15% (1) Tangible common equity divided by tangible assets (2) Tangible common equity divided by shares outstanding (3) Annualized net earnings divided by average tangible common equity. PacWest Bancorp Consolidated

EX-99.3

Exhibit 99.3

Dodd-Frank Act Stress Test Results October 17, 2017

Forward Looking Statements The presentation includes forward looking statements within the meaning of the “Safe-Harbor” provisions of the Private Securities Litigation Reform Act of 1995, which are necessarily subject to risk and uncertainty. Actual results could differ materially due to actual economic factors and various risks, including those set forth from time to time in our filings with the Securities and Exchange Commission (“SEC”). This disclosure contains forward looking statements relating to our Dodd-Frank Act stress test results, including projections of our financial condition and results, under the hypothetical Severely Adverse scenario prescribed to us by our regulators. The projections contained within are not intended to reflect our expectations about future economic conditions or our forecasted results. The Company’s future financial condition and results of operations will be influenced by the actual economic and financial conditions prevailing at such future dates as well as various other factors which are described in reports filed by the Company with the SEC. Such reports are available on the Company’s website or through the SEC’s website at www.sec.gov. You should not place undue reliance on forward-looking statements and we undertake no obligation, except as required by law, to update any such statements.

Company Overview PacWest Bancorp (“PACW” or the “Company”) is a bank holding company based in Beverly Hills, California with $22.2 billion of assets at September 30, 2017 Pacific Western Bank (“PWB”) is the principal operating subsidiary and sole banking subsidiary of PACW Through PWB, the Company Provides commercial banking services, including real estate, construction, and commercial loans and leases, and comprehensive deposit and treasury management services to small and middle-market businesses nationwide Operates 74 full-service branches located throughout California, one branch located in Durham, North Carolina and loan production offices located in cities across the country Provides investment advisory and asset management services to clients through Square 1 Asset Management, Inc., a wholly-owned subsidiary of PWB and SEC-registered investment adviser

Dodd-Frank Act The Dodd-Frank Wall Street Reform and Consumer Protection Act and related banking regulations require banks with total consolidated assets of greater than $10 billion to conduct annual stress tests (“DFAST”) Under DFAST, banking organizations are required to prepare financial statement and capital ratio projections over a nine quarter planning period using hypothetical Baseline, Adverse and Severely Adverse economic scenarios provided by the regulators (“Supervisory Scenarios”) The 2017 stress test projection period begins with the Company’s balance sheet at December 31, 2016 and includes a forecast of nine quarters of operating results ending March 31, 2019 More information regarding the 2017 Supervisory Scenarios and the DFAST rules are available on the Federal Reserve website at http://www.federalreserve.gov The Supervisory Scenarios do not represent forecasts of anticipated economic conditions, and stress tests do not represent forecasts of expected results The DFAST information is used by the regulatory agencies to form supervisory assessments of how effectively banking organizations conduct capital planning, identify and measure risk, and assess capital adequacy The DFAST rules require that PACW and PWB publicly disclose a summary of the following A description of the risks and methodologies used in the stress test The results of the hypothetical Severely Adverse Case The most significant causes of the change in regulatory capital ratios in the Severely Adverse Scenario

Material Risks Included in the Stress Test Below is a summary of the material risks included in the stress test Credit Risk The risk to earnings and capital resulting from the failure of a borrower or a counterparty to meet its contractual obligations to the Company The impact to earnings and capital occurs through increased loan loss provision and, to a lesser extent, losses on securities Interest Rate Risk The risk to earnings and capital resulting from changes in interest rates The impact to earnings and capital occurs from changes in interest income and interest expense Liquidity Risk / Price Risk The risk to earnings and capital resulting from the Company’s inability to meet its obligations as they become due, or to manage unexpected changes in access to or the cost of funding sources The impact to earnings and capital occurs through losses the Company could incur in the course of liquidating loans or securities, or from higher borrowing costs on alternative funding sources

Supervisory Severely Adverse Case Category Variable Supervisory Assumptions Economy Real GDP (annualized) 5 quarters of negative growth; low of -7.5%; rises to 3.0% by the end of the 9-quarter planning period Unemployment Rises to a peak of 10.0% towards the end of the 9-quarter planning period Interest Rates Prime Rate Declines from 3.50% to 3.20% within four quarters and remains at that level for the remaining planning period 3 Month Treasury Declines from 0.40% to 0.10% within one quarter and remains at that level for the remaining planning period 10 Year Treasury Declines from 2.20% to 0.80% within one quarter, and then rises to 1.50% by the end of the 9-quarter planning period Asset Prices Commercial Real Estate Price Index Declines each quarter; the index at the end of the 9-quarter planning period equals 65% of the starting index Dow Jones Total Stock Market Index Declines to a low of 50% of the starting index, and rises to 73% of the starting index by the end of the 9-quarter planning period The Severely Adverse Case (“SAC”) is characterized by a severe global recession that is accompanied by a period of heightened stress in corporate loan markets and commercial real estate markets Below is a summary of the behavior of key economic and market indices included in the SAC

Methodologies Used in the Stress Test Category Methodology Loan Charge-offs Charge-off rates for the larger loan segments were derived using regression models developed using historical charge-off data for the Company and peer banks selected for each loan segment; model-derived results were adjusted in some cases based on management judgment Charge-off rates for smaller loan segments were projected based on peer bank loss history Allowance for Loan and Lease Losses (“ALLL”); Loan Loss Provision (“LLP”) The ALLL at the end of each quarter was estimated using a model that combines outputs from the charge-off models, historical probability of default (PD) and loss given default (LGD) rates by loan segment, and adjustments to the PD and LGD rates during the course of the scenario; LLP is derived from changes in the ALLL balances Loan, Security and Deposit Balances Loan balance growth rates for the larger loan segments were derived using regression models developed using historical loan balances for peer banks selected for each loan segment; model-derived results were adjusted in some cases based on management judgment Loan balances for smaller loan segments were projected based on management judgment Deposit balances were based on a regression model developed using historical data for the Company and a group of peer banks Security balances were based on funding and liquidity needs driven by projected loan and deposit balances Pre Provision Net Revenue (“PPNR”); Losses on Securities PPNR equals net interest income plus non interest income less non interest expense; PPNR excludes LLP and losses on securities PPNR is estimated by combining assumptions from the loan and deposit balance models above, forward curves from the regulatory scenario, security yields based on historical market levels and assumptions for loan spreads, non interest income and non interest expense levels based on Company history and management judgment Losses on securities were estimated using a combination of regression models, historical market data and management judgment Regulatory Capital, Risk Weighted Assets (“RWA”), Adjusted Assets (“AA”) Regulatory capital, RWA and AA were derived using outputs from the models above and applying the Basel III rules The key methodologies used to prepare the stress test are summarized below The stress test assumptions and results were reviewed and approved by management and the Board

Stress Test Results – SAC Income Statement/Loss Rate PACW $MM Cumulative 9-Qtr Amount % Avg Assets Pre Provision Net Revenue $ 1,214 5.29% Loan Loss Provision 1,199 5.22% Losses on Securities 7 0.03% Pretax Income 8 0.04% Net Income 28 0.12% PWB $MM Cumulative 9-Qtr Amount % Avg Assets Pre Provision Net Revenue $ 1,285 5.59% Loan Loss Provision 1,199 5.21% Losses on Securities 6 0.03% Pretax Income 80 0.35% Net Income 75 0.32% Comments First two tables summarize key income statement line items on a cumulative basis during the 9-quarter planning period of the SAC Results are shown separately for PACW and PWB Column for “% of average assets” computed by dividing the cumulative dollar amounts by the average assets for the 9-quarter planning period; ratios are cumulative, not annualized Bottom table summarizes the cumulative net charge-offs and loss rates during the 9-quarter planning period of the SAC Cumulative loss rate computed by dividing cumulative net charge-offs by average loan balances for the 9-quarter planning period; ratios are cumulative, not annualized $MM Cumulative 9-Qtr NCOs Cumulative Loss Rate Cumulative Loan Losses $ 974 6.31%

Stress Test Results – SAC Capital Actions In order to maintain capital ratios at levels greater than or equal to the regulatory minimum plus the fully-phased-in capital conservation buffer of 2.50% No dividend reductions are necessary at PACW Dividend reductions are necessary at PWB No capital redemptions or repurchases are assumed in the scenario PACW cumulative dividends in the SAC -- $548 million PWB cumulative dividends in the SAC Cumulative dividends assuming no reduction -- $583 million Cumulative dividends assumed in the stress test -- $508 million Cumulative dividend reduction is equal to $75 million, or 13%

Stress Test Results – SAC Capital Ratios PACW Actual Q4 2016 Q1 2019 Stress Low Basel III Min + CCB Basel III Min Common Equity Tier 1 Ratio 12.31% 9.55% 9.55% 7.00% 4.50% Tier 1 Risk-Based Capital Ratio 12.31% 9.55% 9.55% 8.50% 6.00% Total Risk-Based Capital Ratio 15.56% 13.12% 13.12% 10.50% 8.00% Tier 1 Leverage Ratio 11.91% 8.44% 8.44% NA 4.00% Risk Weighted Assets ($MM) $18,569 $19,069 NA NA NA Comments The charts to the left summarize regulatory capital ratios for the start, end and low point of the SAC Results are shown separately for PACW and PWB Basel III Min is the minimum capital ratio under the Basel III rules CCB equals the fully-phased-in capital conservation buffer of 2.50% Regulatory “well capitalized” thresholds are 0.50% less than the Basel III Min + CCB level, except the “well capitalized” Tier 1 Leverage threshold is 5.00% (versus the 4.00% minimum level; there is no CCB for the Tier 1 Leverage ratio) PWB Actual Q4 2016 Q1 2019 Stress Low Basel III Min + CCB Basel III Min Common Equity Tier 1 Ratio 11.78% 9.24% 9.24% 7.00% 4.50% Tier 1 Risk-Based Capital Ratio 11.78% 9.24% 9.24% 8.50% 6.00% Total Risk-Based Capital Ratio 12.72% 10.50% 10.50% 10.50% 8.00% Tier 1 Leverage Ratio 11.40% 8.23% 8.23% NA 4.00% Risk Weighted Assets ($MM) $18,547 $19,241 NA NA NA

Primary Causes of Change in Regulatory Capital Ratios Comments The charts summarize the primary causes of the change in regulatory capital ratios for the SAC Charts reflect the change in the tier 1 risk-based capital ratio for PACW and the change in the total risk-based capital ratio for PWB The lower chart reflects the impact of the PWB dividend reduction noted on page 9 The impact of PPNR and LLP are presented on a tax-effected basis The RWA/Other category reflects the impact from increases in risk weighted assets, higher capital deduction for deferred tax assets and losses on securities 12.72% 4.16% 3.88% 2.74% 0.25% 10.50% 0.00% 2.00% 4.00% 6.00% 8.00% 10.00% 12.00% 14.00% 16.00% 18.00% 12/31/16 PPNR LLP Dividends RWA/Other 3/31/19 PWB Total Risk - Based Capital Ratio