PacWest Bancorp (NASDAQ:PACW) Q4 2022 Earnings Conference Call January 27, 2023 11:00 AM ET

Company Participants

William Black - Executive Vice President of Strategy and Corporate Development

Paul Taylor - President and Chief Executive Officer

Kevin Thompson - Executive Vice President and Chief Financial Officer

Mark Yung - Executive Vice President and Chief Operating Officer

Conference Call Participants

Brandon King - Truist Securities

Matthew Clark - Piper Sandler & Co.

Christopher McGratty - Keefe, Bruyette, & Woods, Inc.

Gary Tenner - D.A. Davidson & Co.

David Chiaverini - Wedbush Securities

Andrew Terrell - Stephens, Inc.

David Long - Raymond James & Associates, Inc.

Christopher Marinac - Janney Montgomery Scott LLC

Jon Arfstrom - RBC Capital Markets

Operator

Good day, and welcome to the PacWest Bancorp Fourth Quarter 2022 Earnings Call. Today's conference is being recorded.

At this time, I would like to turn the conference over to Bill Black, PacWest Bancorp.

William Black

Thank you. Good morning, and welcome to PacWest fourth quarter 2022 earnings conference call. With me today are; Paul Taylor, our President and CEO; Kevin Thompson, CFO; and Mark Yung, our COO and the leader of our venture banking business.

Before I hand the call over to Paul, please note that we may make forward-looking statements during today's call that are subject to risks, uncertainties and assumptions. For a more complete discussion of the risks and uncertainties that could cause actual results to differ materially from any forward-looking statements, see our SEC filings including the 8-K filed yesterday afternoon, which is also available on the Company’s website.

I'd like to turn the call over to our President and CEO, Paul Taylor.

Paul Taylor

Thank you, Bill. Good morning, everyone, and thank you for joining our call today. We've made several significant leadership changes in the fourth quarter that will set the stage for the future. Specifically, I assume the role of President and CEO, replacing our long-time CEO, Matt Wagner, who became the Executive Chairman; John Eggemeyer has become our Lead Director; and Kevin Thompson has joined us as new Chief Financial Officer.

We announced a sharpened strategic vision and plan to build on the strengths of the company's deposit-focused community bank business operating as one team with a mission to maximize shareholder returns by exceeding customer expectations. PacWest has a long history of acquisitions that brought us great customers and talented employees, but also varied processes and different cultures.