PacWest Bank receives $1.4 billion lifeline after deposit outflows and stock drop.

Pacific Western Bank has reported that customers have withdrawn 20% of their deposits since the start of the year, and it has raised $1.4 billion in cash from a facility provided by Atlas SP Partners, backed by some of the bank's assets. The bank has also borrowed about $15 billion from various federal programs, including just over $2 billion from the emergency lending program that the Federal Reserve set up after the collapse of Silicon Valley Bank and Signature Bank. PacWest Bancorp, the bank's parent company, saw its stock slip after the announcement, which also detailed the measures the company has taken to raise cash to bolster its balance sheet.