In a new filing with the US Securities and Exchange Commission (SEC) on Thursday , PacWest Bancorp revealed large new cash outflows in recent days from the bank it owns, Pacific Western Bank, but reaffirmed its ability to fund those withdrawals with available liquidity.
According to the filing, which was actually for the first financial quarter that ended on March 31, PacWest also noted it lost 9.5% of its share value in the week preceding May 5. The majority of those withdrawals, it said, came after media reports the company was “evaluat[ing] all options to maximize shareholder value” as […]
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