PacWest Bank Struggles with Deposit Losses and Market Turmoil.
Pacific Western Bank has lost nearly 10% of its deposits over the last week, amounting to billions of dollars, due to customers' fears of the safety of their deposits. The Los Angeles-based lender confirmed that it was looking to sell itself or raise more money, sending its shares down sharply. PacWest now has about $25 billion in deposits, compared with just over $28 billion at the end of March. The new pressure on PacWest is a reminder that midsize lenders remain under pressure, largely because their battered share prices are leading to worries among customers.
