PacWest Bank Struggles with Deposit Outflows and Stock Drops.
TL;DR Summary
PacWest Bancorp has secured a $1.4bn cash infusion from Atlas Merchant Capital after its deposits fell by 20%. The banking company has been hit hard by the pandemic and the economic downturn, leading to a decline in deposits. The cash infusion will help PacWest to continue its operations and support its customers during these challenging times.
- PacWest lost 20% of deposits amid bank turmoil Financial Times
- PacWest Gets $1.4 Billion From Atlas Financing Facility, PACW Stock Drops Bloomberg
- Pacific Western Bank Provides Further Update and Details on Financial Strength Yahoo Finance
- PacWest falls 10% after regional bank discloses deposit outflows, additional liquidity CNBC
- PacWest Stock Falls After Providing a Financial Update. What to Know. Barron's
- View Full Coverage on Google News
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