Pacific West Bancorp Tries to Avoid a Case of Mistaken Identity

Pacific West Bancorp, a small lender based outside Portland, Oregon, is seeking to distance itself from a California company with a similar moniker, PacWest Bancorp, whose shares have plummeted amid the recent regional-banking turmoil.

“Recent local and national news reports have highlighted the financial difficulties of a bank with a similar name in California, leading to concerns that PWB may also be facing similar challenges,” West Linn, Oregon-based Pacific West Bancorp said in a statement Thursday. “However, PWB wants to make it clear that it is a separate entity with no affiliation to the California-based bank.”