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PacWest Bancorp reports lower NIM, higher EPS YOY in Q4'19

PacWest Bancorp reported net earnings allocated to common shares of $116.4 million, or 98 cents per share, for the 2019 fourth quarter, compared to $113.8 million, or 93 cents per share, in the fourth quarter of 2018.

The S&P Global Market Intelligence consensus GAAP EPS estimate for the 2019 fourth quarter was 88 cents.

Total loans and leases held for investment, net, stood at $18.71 billion at the end of the most recent quarter, compared to $18.60 billion at the end of the linked quarter and $17.83 billion a year earlier.

Total deposits at the end of the most recent quarter were $19.23 billion, compared to $19.73 billion at the end of the previous quarter and $18.87 billion a year ago.

Net interest margin was 4.33% for the fourth quarter of 2019, compared to 4.46% for the previous quarter and 4.91% for the year-ago quarter.

Provision for credit losses was $3.0 million for the fourth quarter of 2019, compared to $7.0 million for the linked quarter and $12.0 million for the year-ago quarter.

For full year 2019, the Beverly Hills, Calif.-based company reported net earnings allocated to common shares of $463.5 million, or $3.90 per share, compared to $460.2 million, or $3.72 per share, in 2018.

The S&P Global Market Intelligence consensus GAAP EPS estimate for full year 2019 was $3.79.