Earnings Results
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.
The…