PacWest Bancorp said late on Wednesday that it was in talks with potential partners and investors about strategic options after shares of the lender and several other U.S. regional banks tumbled amid fears of a worsening banking crisis.
A general view of Pacific Western Bank in Huntington Beach, California, U.S., March 22, 2023. REUTERS/Mike Blakelate on Wednesday that it was in talks with potential partners and investors about strategic options after shares of the lender and several other U.S. regional banks tumbled amid fears of a worsening banking crisis.
* At its peak in October 2007, the bank was worth $7.52 billion. PacWest's market value has now fallen to $772 million after its shares tumbled 72% this year. * As of March 31, the lender held total deposits of $28.2 billion and total assets of $44.3 billion. Meanwhile, total insured deposits, which have come into focus since the crisis, were about 75% of total deposits as of May 2.
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