Pacwest Bancorp (PACW) Tops Q1 EPS by 5c, Deposits Increase $1.1 Billion
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PacWest Bancorp Announces Results for the First Quarter 2023
April 25, 2023 4:10 PM EDTLOS ANGELES, April 25, 2023 (GLOBE NEWSWIRE) --
FIRST QUARTER 2023 HIGHLIGHTSÂ
Net loss available to common stockholders of $1.21 billion, or a loss of $10.22 per diluted shareAdjusted earnings of $89.4 million, or $0.66 per diluted share, which excludes non-cash goodwill impairment, and severance and contract termination expense (non-GAAP measure) Goodwill impairment of $1.38 billion recorded due to decline in our stock price as a result of recent market volatility. Goodwill impairment is a non-cash charge and has no impact on our regulatory capital ratios, cash... More