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PacWest Shares Fall More Than 55 Percent in After-Hours Trading as It Seeks Rescue

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PacWest Shares Fall More Than 55 Percent in After-Hours Trading as It Seeks Rescue
Traders work on the floor at the New York Stock Exchange in New York on May 3, 2023. Seth Wenig/AP Photo
Emel Akan
Updated:
0:00

PacWest Bancorp (NASDAQ: PACW) shares fell more than 55 percent in after-hours trading on Wednesday following news that company executives were considering a potential sale.

Bloomberg reported, citing anonymous sources, that the regional bank, which has been weakened by the failure of three California-based lenders, has been contemplating a number of strategic alternatives, including a sale.
Emel Akan
Emel Akan
Reporter
Emel Akan is a senior White House correspondent for The Epoch Times, where she covers the policies of the Trump administration. Previously, she reported on the Biden administration and the first term of President Trump. Before her journalism career, she worked in investment banking at JPMorgan. She holds an MBA from Georgetown University.
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