Category: Bank deposits

PacWest plummets 28% to resume sell-off after the regional bank says deposits fell 9.5% last week

Newsbreak 3 weeks ago in Around The World, Bank deposits, Bank stocks, Banking Crisis, Deposits, FDIC, Markets, MI Exclusive, PACW stock price, PacWest Bank, Regional Banks, regional lenders, Silicon Valley Bank, SPDR S&P Regional Banking ETF, Spider S&P Regional Banking ETF 0

A branch of regional lender Pacific Western Bank in Whittier, California. AP Photo/Ashley Landis PacWest sank 28% Thursday after the regional lender reported a 9.5% drop in deposits last week.  The bulk of the deposit decline came after reports said PacWest was exploring strategic options.  “The news headlines increased our customers’ fears of the safety of their deposits,” the bank said.  PacWest stock sank Thursday…