: PacWest stock drops as it reports decline in deposits in early May

by | May 11, 2023 | Stock Market

PacWest Bancorp shares dropped 21% in premarket trades on Thursday after the bank said it lost 9.5% of deposits during the week ended May 5 amid market volatility. The bank PACW said its deposits were affected on the heels of First Republic’s government-brokered sale to JPMorgan Chase & Co. JPM, which was announced on May 1. “This event…

Article Attribution | Read More at Article Source

Share This