Summary of PACWEST BANCORP

Change in Directors or Principal Officers, Financial Statements and Exhibits

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

(e) On May 12, 2009, at the Annual Meeting of Stockholders of PacWest Bancorp (the "Company") the stockholders of the Company approved an amendment to the Company's 2003 Stock Incentive Plan (the "Plan"), as approved by the Company's board of directors on March 25, 2009, to increase in the aggregate number of shares of the Company common stock available for issuance under the Plan from 3,500,000 shares to a total of 5,000,000 shares and to increase the expiration date of the Plan from April 17, 2010 to May 31, 2015. The Plan authorizes the granting of common stock-based awards in the form of performance and restricted stock grants, stock appreciation rights and stock options.

A copy of the Plan as amended and restated is filed as Exhibit 10.1 hereto to and incorporated herein by reference.

Item 9.01 Financial Statements and Exhibits

(d) Exhibits.

Exhibit No.                               Description
10.1           PacWest Bancorp 2003 Stock Incentive Plan, as amended and
               restated, dated March 25, 2009.