Finance
PacWest Is Weighing Strategic Options, Including Possible Sale
- The bank put aside a previous effort to raise capital
- A breakup is one idea considered by financial adviser
PacWest Bancorp., a regional bank teetering following the collapse of three rival California-based lenders, has been weighing a range of strategic options, including a sale, according to people familiar with the matter.
The Beverly Hills-based bank has been working with a financial adviser and has also been considering a breakup or a capital raise, said the people, who asked to not be identified because the matter isn’t public. While it is open to a sale, the company hasn’t started a formal auction process, the people said.