Operational Update: Coronavirus
Matthew P. Wagner
To begin, I wish good health and safety to each of you and your families. Disruptive circumstances should cause all of us to shift our perspectives but not relinquish our priorities. That is why I want to connect with you directly to reiterate Pacific Western Bank’s priorities and share the steps we are taking to protect our employees and customers while continuing to serve our communities. Our ability to adhere to these principles stems from the strength and security of Pacific Western Bank.
Paycheck Protection Program Extension
On Monday, December 28, 2020 President Trump signed a $900 billion COVID–19 relief bill, which includes funding for a second round of Paycheck Protection Program (PPP) loans. Pacific Western Bank will be participating in this latest round of PPP loans. However, lenders are not able to process loans until the Small Business Administration provides guidance and details on the implementation of the program. Until that time, Pacific Western Bank will be monitoring progress from the SBA and will provide updates regularly. We anticipate the program going live in the coming weeks.
Limited Lobby Access
We have limited lobby access at 24 previously announced branches, but we continue to provide by appointment options, drive-thru and ATM services for these locations.LEARN MORE
Watch for Fraud Scams
A recent FBI public service announcement warns that scammers are leveraging the COVID-19 pandemic to steal money and personal identification information. The agency warned consumers and businesses to do research before clicking on links purporting to provide information on the virus; donating to a charity online or through social media; contributing to a crowdfunding campaign; purchasing products online; or giving up personal information in order to receive money or other benefits.
Temporarily Waiving Fees
We are taking measures to assist our customers and provide relief from hardships during this difficult time by waiving fees associated with early CD withdrawals. If you are being impacted financially by COVID-19, please contact us for further assistance.
Our Business Continuity Plan
- We are following strict social distancing and face covering requirements in all locations.
- We have increased cleaning protocols and frequency in our branch locations.
- In the event of a COVID-19 exposure in one of our branches, we will temporarily close the office for cleaning and sanitization before reopening to clients.
- Our online banking platform remains fully operational 24-hours a day.
- We encourage clients to utilize online banking whenever possible to allow ease of access and communication.
- We remain open and fully operational with limited lobby access in some locations.
- We have a portion of our staff members continuing to work remotely.
- We have placed restrictions on employee business travel to combat potential exposure and spread of COVID-19 to clients.