please help improve this article by adding citations to reliable sources . unsourced material may be challenged and removed . may 2015 learn how and when to remove this template message capitalsource a division of pacific western bank type public traded as nasdaq pacw industry bank founded chevy chase maryland 2000 key people james j. pieczynski president products financial services website www.capitalsource.com capitalsource is a commercial lender that is a division of pacific western bank and provides senior debt loans of 5 million to 100 million to middle market companies throughout the united states . the company targets specific industries in its portfolio of holdings particularly focusing on technology real estate healthcare security small business golf finance and equipment leasing companies . with 16 billion in assets and 80 full service branches located throughout the state of california . pacific western bank is a wholly owned subsidiary of pacwest bancorp 1 capitalsource is often referred to as an on balance sheet lender because its loans are originated underwritten and managed internally . the majority of its loans are in three categories first mortgage cash flow and asset based loans . contents 1 history 2 recognition 3 references 4 external links history edit capitalsource was founded in 2000 by now congressman john delaney d md and jason fish with an initial capitalization of more than 500 million which at the time was the largest private capitalization for a finance company . 2 in 2003 capitalsource completed an ipo and began trading on the new york stock exchange nyse under the symbol cse . in 2006 capitalsource completed its conversion to a real estate investment trust reit which enabled the company to remain competitive in a highly liquid market due to the tax benefits of reit status . in 2009 capitalsource completed its revocation of reit status . 3 today the company operates as a c corp as it did prior to 2006 . capitalsource was briefly involved in a controversial hotel project which also involved rapper jay z and developer andre balazs but capitalsource stepped out of the project when they sold the property note to another developer at a loss . 4 capitalsource bank was involved in another newsworthy property issue in 2010 when they foreclosed upon a high end manhattan project under development . the manhattan blue condominium building had initial interest from leonardo dicaprio but the developers failed to sell enough units to make payments to capitalsource . 5 in early 2012 capitalsource moved its headquarters to los angeles . 6 in 2013 the washington post identified capitalsource as a major lender to aeon financial a secretive company that aggressively purchases tax liens and charges homeowners excessive unreasonable and extraordinarily high in order to avoid foreclosure . 7 capitalsource was acquired by pacwest bancorp in july 2013 for around 2.29 billion . 8 the merger received final regulatory approval on april 1 2014 . in the agreement capitalsource trading as cse ceased to trade at market close on april 7 2014 . existing capitalsource shareholders received a combination of cash and a fixed exchange ratio of pacw shares . in april of 2014 pacific western bank and capitalsource merged to form what is now the 6th largest publicly traded commercial bank headquartered in california with more than 16 billion in assets . recognition edit capitalsource bank played a central role in the founding of the elder financial protection network efpn and the california state legislature presented capitalsource bank with a certificate of recognition for helping to launch and maintain it . 9 gary dunn capital source bank s vp cra is a member of the board of directors for efpn serving as treasurer . 10 capitalsource bank was awarded a bank enterprise award from the community development financial institutions fund by the u.s. treasury department for its investment in low income and economically distressed communities in california in 2010 . 11 12 references edit http www.snl.com irweblinkx file.aspx iid 4053613 & fid 23103872 dan freed the street october 13 2009 washington business journal october 31 2008 . capitalsource to rid reit status in 2009 . retrieved october 21 2010 . anton troianovski may 10 2010 . plans for 14th street hotel go nowhere . wall street journal . retrieved october 25 2010 . craig karmin august 5 2010 . foreclosure buyer gets hudson blue . wall street journal . retrieved october 25 2010 . washington business journal july 31 2012 . capitalsource has quietly moved its headquarters to los angeles . retrieved january 10 2013 . the washington post http www.washingtonpost.com sf investigative 2013 12 08 debt collecting machine hpid z1 home . missing or empty title help reuters 23 july 2013 . deals of the day mergers and acquisitions . reuters . capitalsource bank . capitalsource bank community reinvestment . retrieved 2010 10 22 . elder financial protection network . board of directors efpn . retrieved 2010 10 22 . u.s. treasury department . cdfi fund awards nearly 25 million to institutions for increasing lending and investment in economically distressed communities . u.s. treasury department . community development financial institutions fund 2010 bea award list pdf . external links edit capitalsource capitalsource bank retrieved from https en.wikipedia.org w index.php title capitalsource & oldid 685466188 categories companies listed on the new york stock exchangefinancial services companies based in marylandcompanies based in chevy chase marylandhidden categories pages with citations lacking titlespages with citations having bare urlsarticles needing additional references from may 2015all articles needing additional referencespages using infobox company with unsupported parameters navigation menu personal tools not logged intalkcontributionscreate accountlog in namespaces article talk variants views read edit view history more search navigation 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