Shares are down for PacWest after subsidiary Pacific Western Bank said deposits are stable after receiving 1.4 billion from investment firm Atlas SP Partners.
Senate Finance Committee member Sen. James Lankford, R-Okla., discusses whether Americans can have confidence in the U.S. financial system on 'Cavuto: Coast to Coast.'from Atlas SP Partners. The Los Angeles-based financial group said it explored the idea of raising new capital but decided against the move due to a rout in bank stocks.
In a statement issued by the bank on Wednesday, Paul Taylor, Pacific Western Bank president and CEO, said the bank was encouraged by "the clear message from government officials, regulatory agencies, and industry leaders, including Secretary [Janet] Yellen’s recent remarks regarding the protection of smaller bank depositors."
"As we look ahead, we have continued confidence in the strength of PacWest and are encouraged by the stability we have seen in our deposits and liquidity over the past week," he said. Pacific Western continues to benefit from solid liquidity and stabilized deposit balances, with over $11.4 billion in available cash as of Mar. 20, which exceeds total uninsured deposits of $9.5 billion, the company announced.
Indonesia Berita Terbaru, Indonesia Berita utama
Similar News:Anda juga dapat membaca berita serupa dengan ini yang kami kumpulkan dari sumber berita lain.
Pacific Western Bank raises $1.4 bln, says deposits have stabilizedPacific Western Bank said on Wednesday it had raised $1.4 billion from investment firm Atlas SP Partners as regional banks rush to contain the fallout of a recent collapse of two mid-sized lenders.
Baca lebih lajut »
PacWest decides not to raise additional capital after getting private backer and federal loansPacWest Bancorp stock fell 13% in premarket trade Wednesday after it said it continues to have “solid liquidity” after borrowing from the federal government...
Baca lebih lajut »
PacWest falls 10% after regional bank discloses deposit outflows, additional liquidityThe bank said Wednesday that it now has $27.1 billion in deposits, which is down from $33.9 billion at the end of December.
Baca lebih lajut »
Sailboat crew rescued in Pacific after abandoning ship sunk by whale“Tommy this is no joke,” Raindancer owner Rick Rodriguez texted his friend and fellow sailor. “We hit a whale and the ship went down.” He and his three friends escaped the sinking ship and sent out a distress signal after an encounter with a massive whale.
Baca lebih lajut »
Southeast humpback populations are improving, but the fallout of the Pacific marine heat wave lingersThings are looking up for Southeast Alaska’s humpback whales in the years following The Blob, according to a new update from Glacier Bay National Park. The 2022 Glacier Bay humpback survey, which was released last week, shows sure signs of improvement. Whales are fattening up again, and they’re staying longer in Glacier Bay and Icy Strait than they did during the heat wave.
Baca lebih lajut »
COMING UP: President Biden to Designate National Monuments in Texas, Nevada, Pacific OceanPresident Joe Biden is establishing national monuments in Nevada and Texas and creating a marine sanctuary in U.S. waters near the Pacific Remote Islands southwest of Hawaii.
Baca lebih lajut »