LOS ANGELES, May 04, May 04, 2021 (GLOBE NEWSWIRE via COMTEX) --
LOS ANGELES, May 04, 2021 (GLOBE NEWSWIRE) -- Pacific Western Bank (the "Bank"), the wholly-owned banking subsidiary of PacWest Bancorp
, announced today the release of its inaugural Corporate Social Responsibility Report, which is available at:
PWB 2020 Social Responsibility Report
The Bank has been working on telling our environmental, social and governance ("ESG") story, starting with the two-page Corporate Social Responsibility Highlights summary issued for 2019 and has now taken further steps through the issuance of this comprehensive Corporate Social Responsibility Report. This 2020 Corporate Social Responsibility Report focuses on a wide range of topics, including community reinvestment, human capital, diversity and inclusion, corporate governance, ethics and risk management and sustainability.
"When viewed together, these topics form the pillars of the Bank's corporate social responsibility strategy and they help define our community banking culture," said Matt Wagner, President and CEO. "This report focuses on how our culture inspires and enables us to change what's possible for our business, our customers, our employees, our communities and our environment. We take great pride in our work and we are excited to share it with all our stakeholders in this report."
Some of the key developments that are highlighted in the 2020 Corporate Social Responsibility Report include:
$669 million in community development lending benefiting low- or moderate-income borrowers
$3.5 million in charitable contributions to benefit local communities
Outstanding CRA rating from the FDIC, for the second consecutive 3-year period
Our total workforce is 58% female
Our total workforce is 49% racially diverse
Over 6,000 small businesses/non-profits assisted through the Paycheck Protection Program
ABOUT PACWEST BANCORP
PacWest Bancorp ("PacWest") is a bank holding company with over $32 billion in assets headquartered in Los Angeles, California, with an executive office in Denver, Colorado, with one wholly-owned banking subsidiary, Pacific Western Bank (the "Bank"). The Bank has 70 full-service branches located in California, one branch located in Durham, North Carolina, and one branch located in Denver, Colorado. The Bank provides community banking products including lending and comprehensive deposit and treasury management services to small and medium-sized businesses conducted primarily through our California-based branch offices and Denver, Colorado branch office. The Bank offers national lending products including asset-based, equipment, and real estate loans and treasury management services to established middle-market businesses on a national basis. The Bank also offers venture banking products including a comprehensive suite of financial services focused on entrepreneurial and venture-backed businesses and their venture capital and private equity investors, with offices located in key innovative hubs across the United States. For more information about PacWest Bancorp or Pacific Western Bank, visit www.pacwest.com .
Matthew P. Wagner
President and CEO
Bart R. Olson
EVP and CFO
William J. Black
EVP Strategy and Corporate Development
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