PacWest Bancorp's Shares Surge on Steady Deposit Growth Update.
TL;DR Summary
PacWest Bancorp reported earnings that beat EPS estimates, causing its stock to rise more than 20% in after-hours trading. The bank's total deposits increased to $28.2 billion on March 31, compared to $27.1 billion on March 20. This comes after fears regarding regional banks swept through the market following First Republic Bank's worrisome earnings call, which caused its stock to drop nearly 50%. However, PacWest seemed less impacted and added subsequent deposits last quarter.
- Why PacWest Bancorp Shares Are Jumping Tuesday Evening Yahoo Finance
- PacWest stock surges 14% as bank says deposits have been building in recent weeks MarketWatch
- PacWest reports steady deposit growth over last several weeks American Banker
- PacWest Says Deposits Now Stable After Turmoil Slammed Stock Yahoo Finance
- PacWest Shares Jump in Off-Hours Trading After Deposit Update The Wall Street Journal
- View Full Coverage on Google News
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