Item 5.02. Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.

Effective January 14, 2009, in connection with the closing of the previously announced acquisition of approximately $100 million of shares of common stock of PacWest Bancorp (the "Company") by CapGen Capital Group II LP ("CapGen"), an investment firm affiliated with CapGen Financial, the Company appointed Mr. John Rose to the Board of Directors of the Company, pursuant to the terms of the Stock Purchase Agreement, dated as of August 29, 2008, between the Company and CapGen. Mr. Rose was also appointed to the Executive Committee of the Board of Directors.

Attached hereto as Exhibit 99.1 is a copy of the press release, which is incorporated herein by reference.

Item 9.01 Financial Statements and Exhibits

(d) Exhibits.

Exhibit No. Description
99.1 Press release dated January 14, 2009

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