PacWest out in California is suiting up for a financial battle. According to the bank, the bank is exploring strategic options to reign itself in and get it together before it joins a chorus of other banks that have largely failed.
“The company will continue to evaluate all options to maximize shareholder value,” PacWest said in a statement, adding fuel to previous reports from Bloomberg and Reuters. It added: “The bank has not experienced out-of-the-ordinary deposit flows following the sale of First Republic Bank and other news.”
According to the lender, a $2.7b sale of one of its portfolios is going to still go through.