PacWest's Resilience Amidst Market Downturn (NASDAQ:PACW)

Panic selling has hit PacWest Bancorp and other regional banks following the takeover of First Republic Bank by the FDIC and its subsequent sale to JPMorgan. While the bank's 1Q23 results were better than expected, recent events have led to questions about market manipulation and the SEC's role in protecting financial institutions. Despite the risks, PacWest management remains confident in the bank's fundamentals and has maintained its preferred dividends. The author, who holds a position in PacWest Bancorp Preferred shares, believes the bank is down but not out and has added to their position on the dip.