Another Regional Bank Teeters:Western Alliance Explores Sale
May 4, 2023 22:05:21 GMT -5
Post by schwartzie on May 4, 2023 22:05:21 GMT -5
Another Regional Bank Teeters: Western Alliance Explores Sale, Stock Plummets, Trading Halts
By Cristina Laila
May. 4, 2023 11:25 am
Joe Biden’s America.
Western Alliance is also the latest regional bank to explore a sale, the Financial Times reported.
The bank’s stock plunged 53% on news of the potential sale.
Western Alliance reportedly holds 71 billion in assets.
Western Alliance halted after its shares plummeted on Thursday.
Western Alliance denied the Financial Times report, calling it “categorically false” and said they are “considering all our legal options.”
West Coast regional banks are getting hammered as fears of contagion spread.
PacWest Bancorp shares also tumbled nearly 60% in after hours trading on Wednesday on rumors of a sale.
The Federal Reserve threw gasoline on the fire on Wednesday and raised interest rates 25 basis points.
link
By Cristina Laila
May. 4, 2023 11:25 am
Joe Biden’s America.
Western Alliance is also the latest regional bank to explore a sale, the Financial Times reported.
The bank’s stock plunged 53% on news of the potential sale.
Western Alliance reportedly holds 71 billion in assets.
Western Alliance halted after its shares plummeted on Thursday.
Western Alliance denied the Financial Times report, calling it “categorically false” and said they are “considering all our legal options.”
West Coast regional banks are getting hammered as fears of contagion spread.
PacWest Bancorp shares also tumbled nearly 60% in after hours trading on Wednesday on rumors of a sale.
The Federal Reserve threw gasoline on the fire on Wednesday and raised interest rates 25 basis points.
link
