Tag: $PacWest

Bank mergers look to be back on the table after a regional banking crisis roiled the industry earlier this year.

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PacWest Bancorp said on Monday it was selling a $3.54 billion lender finance loan portfolio to asset management firm Ares Management, in an attempt to boost liquidity at the U.S. regional lender, sending its shares up nearly 5%.

Regional lender PacWest Bancorp said on Monday it agreed to sell a portfolio of 74 real estate construction loans with an aggregate principal outstanding balance of around $2.6 billion to a unit of Kennedy-Wilson Holdings.

Shares of PacWest were under pressure once again on Thursday after the struggling regional bank said that deposit outflows resumed in the first week of May.

PacWest Bancorp and other regional bank stocks fell early Tuesday as market jitters appeared to resurface after a two-day rally.