2.1 C
Ottawa
Friday, March 14, 2025

Earnings Results: PacWest stock surges 14% as bank says deposits have been building in recent weeks

Date:

Earnings Results


Thank you for reading this post, don't forget to subscribe!

Total deposits rose to $28.2 billion as of March 31 from $27.1 billion on March 20, and have headed higher since

Pacific Western Bank headquarters in Beverly Hills, Calif. Pacific Western Bank is a commercial bank owned by PacWest Bancorp.


Getty Images/iStock

Shares of PacWest Bancorp shot 14% higher in Tuesday’s aftermarket trading after the regional bank disclosed a rise in deposits in recent weeks.

PacWest PACW said alongside its first-quarter earnings report that total deposits rose to $28.2 billion as of March 31 from $27.1 billion when the company provided a March 20 investor update. The company saw deposit balances grow by an additional $700 million or so as of April 24.

The…

know more

Popular

More like this
Related

Hojlund set to be replaced at Man Utd as one of five PL stars lucky to survive January

We’re closing in on the end of the January transfer window and we can barely contain our excitement ahead of deadline day and all those incredible moves that will be feverishly discussed before coming to nothing. Arsenal’s increasing desperation to land a striker despite Mikel Arteta’s insistence that they will only sign The Right Player

Buying Canadian is a matter of pride for shoppers. For major grocery chains, it’s an opportunity

BusinessCanada's major food retailers have all rolled out new...

The U.S. has covertly destabilized nations. With Canada, it’s being done in public

Former senior Canadian intelligence officials say Canada needs to be on...

70 years after he was hanged for murder in Quebec, family hopes his name can finally be cleared

Jim Coffin's mom wouldn't buy newspapers and kept the...