PacWest's Deposits Drop and Shares Tumble.
TL;DR Summary
PacWest Bancorp has $15 billion of immediately available liquidity and enough resources to fund its cash flow needs over the next 12 months, it said on Thursday. However, shares were down 7% in premarket trade as investor worries persist. Deposits declined about 9.5% during the week ended May 5, the bank said, adding the majority of those outflows happened on May 4 and May 5 after news reports said PacWest was exploring options.
- UPDATE 2-PacWest says has $15 bln of immediately available liquidity Yahoo Finance
- PacWest shares tumble 20% after regional bank says deposits fell 9.5% last week CNBC
- PacWest Deposits Dropped 9.5% After Report of Investor Talks Bloomberg
- PacWest stock plummets after it moves to boost borrowing capacity Yahoo Finance
- PacWest Is Tumbling Again. Deposits Fell Last Week. Barron's
- View Full Coverage on Google News
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