Trending: PacWest Bancorp Deposits Rising, Exploring Asset Sales

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Trending: PacWest Bancorp Deposits Rising, Exploring Asset Sales

Dow Jones2023-05-04

9:43 ET -- PacWest Bancorp is one of the most mentioned companies in the U.S. across all news items in the last 12 hours, according to Factiva data. PacWest Bancorp said that its deposits were rising and that the lender had been in discussions with possible investors or partners. The troubled regional bank tumbled in late trading on Wednesday following a report by Bloomberg that executives were weighing a possible sale. PacWest said it had "explored strategic asset sales," including the sale of its $2.7 billion Lender Finance loan portfolio in the first quarter, which it said remains on track. As well, the lender has been "approached by several potential partners and investors--discussions are ongoing." Dow Jones & Co. owns Factiva. (chris.wack@wsj.com)

(END) Dow Jones Newswires

May 04, 2023 09:43 ET (13:43 GMT)

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