US Regional Banks Suffer Major Losses Amidst Reports of Potential Sales and Consolidation
TL;DR Summary
Shares of PacWest Bancorp fell over 50% in after-hours trading following a Bloomberg report that the company's executives were considering a possible sale. The news adds to concerns over the financial stability of regional banks, following the collapse of Silicon Valley Bank and Signature Bank in March and the sale of First Republic Bank to JPMorgan Chase & Co. earlier this week. Other bank stocks, including Zions and Western Alliance, also fell in after-hours trading.
- PacWest stock plummets more than 50% after report of potential sale MarketWatch
- After First Republic Collapse, US Bank Stocks Tank | Vantage with Palki Sharma Firstpost
- PacWest falls more than 50% after hours on report bank is weighing sale CNBC
- US Regional Banks 'Need Consolidation,' Canyon's Lemkin Says Bloomberg
- US Regional Banks Slump as Rout Deepens on First Republic Flop Yahoo Finance
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