BEVERLY HILLS, Calif. (AP) _ PacWest Bancorp (PACW) on Wednesday reported fourth-quarter net income of $116.8 million.

The bank, based in Beverly Hills, California, said it had earnings of 99 cents per share.

The results beat Wall Street expectations. The average estimate of six analysts surveyed by Zacks Investment Research was for earnings of 67 cents per share.

The holding company for Pacific Western Bank posted revenue of $312 million in the period. Its revenue net of interest expense was $299.1 million, also exceeding Street forecasts. Four analysts surveyed by Zacks expected $286.7 million.

For the year, the company reported a loss of $1.24 billion, or $10.61 per share, swinging to a loss in the period. Revenue was reported as $1.16 billion.

PacWest shares have risen 18% since the beginning of the year. In the final minutes of trading on Wednesday, shares hit $30, a drop of 18% in the last 12 months.

This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on PACW at https://www.zacks.com/ap/PACW

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