Anxiety over the potential for a rush of withdrawals by customers of regional banks continues to roil the financial sector with PacWest Bancorp attempting to calm investors investors overnight as its shares plunging more than 39%.
PacWest said early Thursday that it exploring asset sales and has been approached by several parties about a deal and that talks are ongoing. The bank insisted that it has not experienced high numbers of customer withdrawals in the wake of the failure and sale of First Republic Bank after a modern day bank run.
