Pacific Western Bank plans local branch
Pacific Western Bank is planning on opening a new branch in town, according to a bank employee. The new branch will open at 12th and Spring streets. Bank of America recently had a mortgage service center at the location.
Pacific Western Bank bought San Luis Obispo based American Perspective Bank for $58 million in May of this year. The purchase was part of Pacific Western’s plan to growth north from its Southern California base.
It currently operates local branches in Atascadero, San Luis Obispo, Arroyo Grande and Nipomo.
The bank’s holding company, PacWest Bancorp has $5.4 billion in assets as of March 31, 2012. Through 76 full-service community banking branches, Pacific Western provides commercial banking services, including real estate, construction and commercial loans, to small and medium-sized businesses. Pacific Western’s branches are located throughout California in Los Angeles, Orange, Riverside, San Bernardino, Santa Barbara, San Diego, San Francisco, San Luis Obispo, San Mateo and Ventura Counties. Through its subsidiaries, BFI Business Finance and Celtic Capital Corporation, and its divisions, First Community Financial and Pacific Western Equipment Finance, Pacific Western also provides working capital financing and equipment leasing to growing companies located throughout the United States, with a focus on the Southwestern U.S., primarily in Arizona, California, Utah and Texas.