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Tuesday, March 11, 2025

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

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Earnings Results


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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.


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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.

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