Regional Bank stocks crashing after hours as PacWest says they are looking for a buyer.
– PacWest, $PACW, 2.91▼ 3.51 (54.67%) After Hours
– Western Alliance Bank, $WAL, 21.53▼ 8.04 (27.19%) After Hours
– Metropolitan Bank, $MCB, 17.39 -3.83 (-18.05%) After hours
PacWest Bancorp … has been considering a variety of strategic options, including a sale, according to people familiar with the situation. According to the people who asked not to be identified because the matter is private, the Beverly Hills-based bank has been working with a financial adviser and has been considering a breakup or a capital raise. According to the sources, while the company is open to selling, it has not begun a formal auction process.