About Pacific West Bancorp
Pacific West Bank provides banking products and services. The company is a full service business and private bank, providing highly personalized depository and loan services.
The company offers a full suite of business banking and commercial lending products with features and flexibility to meet the needs of local businesses. The company serves the greater Portland metro and build long-term relationships, with locations in West Linn, Lake Oswego, and Portland, Oregon.
As a member of the Federal Home Loan Bank (FHLB) system, the company is required to maintain a minimum investment in FHLB stock based on specific percentages of its total assets and any outstanding advances.
Investment Securities
As of December 31, 2020, the company’s investment securities included mortgage-backed securities and municipal bonds.
Deposits
As of December 31, 2020, the company’s deposits included noninterest-bearing demand, interest-bearing demand, savings, and time deposits.
Loans
As of December 31, 2020, the company’s loans included one to four family residential construction loans; other construction, land development, and other land loans; home equity lines of credit; one to four family residential loans, first lien position; one to four family residential loans, junior lien position; multi-family loans; owner occupied commercial real estate loans; non-owner occupied commercial real estate loans; commercial and industrial loans; Small Business Administration (SBA) paycheck protection program (PPP) loans; consumer loans; and all other loans.
The one to four family residential construction loan segment and other construction, land development, and other land loans segment include loans for which the loan proceeds are controlled by the company and are used exclusively for the improvement of real estate on which the company holds a mortgage. One to four family residential construction loans are specifically collateralized by one to four family residences.
Home equity lines of credit generally have a greater credit risk than other one to four family residential loans because they are secured by mortgages that are usually subordinated to the existing first mortgage on the property, which may or may not be held by the company.
One to four family residential loans in the first lien position and junior lien position are collateralized by one to four family residences (e.g., owner occupied properties and non-owner occupied rental units).
Multi-family loans are secured by multi-family dwelling units (more than four units).
Commercial real estate loans in the owner occupied and non-owner occupied segments are secured by such properties as office buildings, retail/wholesale facilities, and other commercial properties.
Commercial and industrial loans are generally secured by accounts receivable, inventory, equipment, or other property.
SBA PPP loans are loans, which are government guaranteed.
Consumer loans are loans to purchase various items, such as automobiles, boats, and recreational vehicles.
The company’s locations and the majority of its customers are located in the greater Portland, Oregon area, and a substantial portion of the company’s loans are collateralized by real estate in this geographic area.
History
Pacific West Bank was founded in 2004. The company was incorporated in 2004.