PacWest Bancorp reported consolidated earnings results for the fourth quarter and full year of 2017. For the quarter, the company announced net earnings of $84.0 million, or $0.66 per diluted share, compared to net earnings for the third quarter of 2017 of $101.5 million, or $0.84 per diluted share.  The decrease in net earnings from the prior quarter was due primarily to higher noninterest expense, higher income tax expense and lower noninterest income offset by higher net interest income and a lower provision for credit losses. Return on average assets was 1.34% against of 1.82% a year ago. Return on average tangible equity was 13.75% against of 16.85% a year ago. Book value per share was $38.65 compared to $37.96 a year ago. Tangible book value per share was $18.24 compared to $19.84 a year ago. Net interest income increased by $21.3 million to $263.0 million for the fourth quarter of 2017 compared to $241.7 million for the third quarter of 2017 due mainly to higher average loan and lease balances primarily from the CUB acquisition. Net interest income after provision for credit losses was $256,550,000 compared to $225,090,000 a year ago. Earnings before income taxes were $140,477,000 compared to $135,363,000 a year ago. Return on average equity was 6.78% against of 7.57% a year ago.

For the full year, the company's net earnings were $357.8 million, or $2.91 per diluted share, compared to net earnings for the full year 2016 of $352.2 million, or $2.90 per diluted share. Return on average assets was 1.58% against of 1.66% a year ago. Return on average tangible equity was 15.15% against of 15.52% a year ago. Book value per share was $38.65 compared to $36.93 a year ago. Tangible book value per share was $18.24 compared to $18.71 a year ago. Net interest income was $979,571,000 compared to $961,291,000 a year ago. Net interest income after provision for credit losses was $921,819,000 compared to $895,562,000 a year ago. Earnings before income taxes were $554,731,000 compared to $557,936,000 a year ago.

For the quarter, the company reported net charge-offs were $22,758,000.