PacWest Confirms it is Evaluating “Strategic Options”

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Pacific Western Bank confirmed on Thursday that it is reviewing “strategic options” and has been approached by potential investors.  California-based PacWest Bancorp holding company, owner of Pacific West Bank, stated, “Recently, the company has been approached by several potential partners and investors—discussions are ongoing. The company will continue to evaluate all options to maximize shareholder value.”  On Wednesday amid speculation following the news that PacWest was seeking options, shares plunged 52 percent.