NEW YORK (Reuters) – PacWest Bancorp is exploring strategic options, including a potential sale or capital raise, after a liquidity boost it announced last month failed to inspire confidence in its ailing share price, a person familiar with the matter said.
PacWest is hoping that to avoid the fate of other regional lenders that were taken over by U.S. regulators in the last two months by proactively finding a solution that bolsters its finances, the source said, asking not to be identified because the matter is confidential.
A PacWest spokesperson did not immediately respond to a request for comment.
(Reporting by Anirban Sen in New York)
