PacWest says deposits rising, confirms talks with possible investors, partners

PacWest Bancorp PACW said Thursday that its deposits were rising and that the lender had been in discussions with possible investors or partners. The troubled regional bank tumbled in late trading on Wednesday, taking several other banking stocks with it, following a report by Bloomberg that executives were weighing a possible sale. “The bank has not experienced out-of-the-ordinary deposit flows following the sale of First Republic Bank and other news. Core customer deposits have increased since March 31, 2023, with total deposits totaling $28 billion as of May 2, 2023 with insured deposits totaling 75% vs. 71% at quarter…