“PacWest stock plunges 23% after losing 9.5% of deposits last week”
May 12, 2023
“Regional bank stocks fell again Thursday after troubled California lender PacWest (PACW) disclosed it lost 9.5% of deposits last week on a wave of new pessimism surrounding the industry.
The Beverly Hills, Calif.-based institution first came under investor scrutiny following the March 10 failure of Silicon Valley Bank. PacWest stock took another dive last week following reports that it had been weighing a sale or capital raise…”