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PacWest Bank's Financial Woes Lead to Stock Drop and $1.4 Billion Lifeline

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Source: Barron's
PacWest Bank's Financial Woes Lead to Stock Drop and $1.4 Billion Lifeline
Photo: Barron's
TL;DR

PacWest Bancorp's stock fell after the regional lender announced that it will not pursue a capital raise due to low market prices for regional bank stocks. Instead, it will obtain a credit facility of $1.4 billion. The primary subsidiary, Pacific Western Bank, provided a financial update before the market opened on Wednesday.

Topics:businessfinance#credit-facility#finance#financial-update#pacwest-bancorp#regional-banks#stock-prices
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  1. PacWest Stock Falls After Providing a Financial Update  Barron's
  2. PacWest falls 17% after regional bank discloses deposit outflows, additional liquidity  CNBC
  3. PacWest Secures $1.4 Billion Lifeline  Bloomberg Television
  4. PacWest Gets $1.4 Billion From Atlas After 20% Deposits Pulled, PACW Stock Drops  Bloomberg
  5. PacWest Bank Taps Credit Lines After 20% Drop in Deposits  The New York Times

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