- PacWest's fourth quarter earnings were a little messy in some respects, but core pre-provision profits were better than expected and loan growth was exceptional.
- Strong demand for asset-backed lending, venture lending, and residential real estate should fuel strong loan growth in 2022 and double-digit pre-provision profit growth.
- PacWest's loan growth is still vulnerable to disruptions in the economic recovery, but the valuation is still attractive relative to the growth opportunity.
For further details see:
PacWest Still Undervalued As Opportunities To Deploy Excess Capital And Generate Profit Growth Continue To Improve