PacWest, First Horizon plunge 40% amid ongoing regional banking crisis

PacWest and First Horizon plummet 40% as banking-industry nerves spur speculation of further consolidation

Shares of PacWest have plunged 85% from the level they were trading at before the downfall of Silicon Valley Bank.

But a recent update from PacWest showed that its deposit base actually increased in recent months. Still, that doesn't seem to be enough to stem the current crisis hitting the company. According to, potential options being weighed by PacWest include a breakup or an outright sale to a larger bank. by both companies. While the uncertain banking environment likely played a role in the cancellation of the $13.4 billion merger deal, what also was at issue was the lack of clarity from regulators that had threatened the deal.

Vi har oppsummert denne nyheten slik at du kan lese den raskt. Er du interessert i nyhetene kan du lese hele teksten her. Les mer:

BusinessInsider /  🏆 729. in US

Norge Siste Nytt, Norge Overskrifter

Similar News:Du kan også lese nyheter som ligner på denne som vi har samlet inn fra andre nyhetskilder.

First Horizon Shares Fall More Than 40% After TD Bank Merger FailsCEO Bryan Jordan said the closed merger was “unfortunate and unexpected.”
Les mer »

Bank stocks tumble as First Republic deal fails to stem contagion fearsShares of Los Angeles lender PacWest Bancorp fell 28% as spooked investors bail from regional banks.
Les mer »

PacWest, Western Alliance sell off after Jamie Dimon said crisis endedPacWest, Western Alliance lead regional bank sell-off of more than 20% a day after Jamie Dimon said the crisis had ended
Les mer »

PacWest drops 12%, leading regional bank stocks in continued selloffShares of regional banks remained under pressure in a fresh selloff Wednesday, as investors question the stability of the sector. Stock in PacWest Bancorp...
Les mer »

Stocks making the biggest moves premarket: Starbucks, AMD, Pearson, PacWest & moreThese are the stocks posting the largest moves in premarket trading.
Les mer »

Another US regional bank in trouble: PacWest considering “strategic options”Following the Federal Reserve's decision to raise interest rates to their highest level since 2007, Bloomberg reported that PacWest Bancorp is conside
Les mer »