PacWest Bank's Stock Drop Sparks Sale Speculation
TL;DR
PacWest Bancorp is reportedly exploring strategic options, including a sale or raising capital, after its shares dropped nearly 72% since the start of 2023. The California-based bank has not yet initiated an auction process, and selling all of its businesses as one hasn't been attractive to many entities. PacWest's other options include breaking its businesses up. The bank's total deposits for Q1 2023 marked a nearly 17% decrease from Q4 2022 and an approximately 15% decline from Q1 2022.
- Another bank failure? PacWest reportedly seeks buyers after stock drop Fox Business
- After First Republic Collapse, US Bank Stocks Tank | Vantage with Palki Sharma Firstpost
- PacWest falls more than 50% after hours on report bank is considering strategic options CNBC
- PacWest Weighs Strategic Options, Including a Sale Bloomberg Television
- PacWest Bank shares fall more than 50% on report that it could be the next regional bank to collapse CNN
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