Banc of California is set to absorb PacWest, a larger lender that has seen its depositors flee this year.
Category: PacWest Bancorp
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PacWest Bank, Shedding Billions in Deposits, Enters Renewed Market Spiral
The Los Angeles-based lender said that its falling stock price ignited customers’ “fears of the safety of their deposits.”
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Bank Stocks Bounce as Investors Rethink Economic Outlook
PacWest and Western Alliance, the banks at the center of the latest phase of the crisis, recouped a chunk of earlier losses, as robust economic data also heartened investors.
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What to Watch in Today’s Jobs Report
The latest employment data will be published days after the Fed signaled it was ready to pause raising interest rates.
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Smaller Banks Are Scrambling as Share Prices Plunge
Investors are not convinced that regional banks including PacWest and Western Alliance can remain viable. Some are actively betting on their demise.
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PacWest Says It’s Exploring Options After Shares Plunge
An intensifying challenge for bankers and regulators is how to keep the turmoil in the stock market from spilling into the lenders’ day-to-day businesses.
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Banks Are Borrowing More From the Fed: What to Know
The New York Times – Business:As turmoil sweeps the United States financial system, banks are turning to the Federal Reserve for loans to get them through the squeeze.
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PacWest Bank Taps Credit Lines After 20% Drop in Deposits
The New York Times – Business:The Los Angeles lender, which has come under scrutiny amid worries about midsize banks, said withdrawals had “stabilized.” It expressed confidence in its ability to raise cash.
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U.S. regional banks like First Republic remain a source of worry.
The New York Times – Business:Even as the stock price of Credit Suisse, the giant European lender, recovered after a plunge, shares of some midsize American banks plummeted on Thursday.
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After Days of Panic, Midsize Banks See Stocks Rise
The New York Times – Business:Shares in midsize banks that seemed to be on the brink stage a comeback.
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Shares in First Republic and Others Rise After Federal Bank Rescue
The New York Times – Business:First Republic, Western Alliance and PacWest Bancorp shares were set to rise on Tuesday after one of the industry’s worst stock routs in years.