PacWest's Rescue Puts Its Top Spot on Savings Rates at Risk bnnbloomberg.ca - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from bnnbloomberg.ca Daily Mail and Mail on Sunday newspapers.
PacWest to Merge With Banc of California to Weather Upheaval bnnbloomberg.ca - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from bnnbloomberg.ca Daily Mail and Mail on Sunday newspapers.
(Bloomberg) PacWest Bancorp is being bought by smaller rival Banc of California as it seeks to navigate a bout of upheaval that brought down a handful of its peers.Most Read from BloombergChina Replaces Foreign Minister After Mysterious AbsenceRolex, Patek Prices to Keep Falling as Supplies Remain High, Morgan Stanley SaysUK Billionaire Joe Lewis Charged in US With Insider TradingNatWest CEO Alison Rose Steps Down After Nigel Farage Row‘We Were Wrong’: Morgan Stanley’s Wilson Offers Stocks Me
PacWest Bancorp and Western Alliance Bancorp each slumped more than 25% Tuesday, leading a renewed selloff in regional lenders as investors continued to gauge the health of the industry after the second-largest US bank failure ever.