Pacific Western Bank said on Wednesday it had raised $1.4 billion from investment firm Atlas SP Partners as regional banks rush to contain the fallout of a recent collapse of two mid-sized lenders.
A street sign for Wall Street is seen in the financial district in New York, U.S., November 8, 2021. REUTERS/Brendan McDermidsaid on Wednesday it had raised $1.4 billion from investment firm Atlas SP Partners as regional banks rush to contain the fallout of a recent collapse of two mid-sized lenders.
"Any time that you know a bank talks about having considered a capital raise, especially in this environment where there's so much skittishness from the markets, it's bound to have a negative impact of the stock," said Gary Tenner, analyst at brokerage D.A. Davidson & Co. Regional banks, whose stocks have been battered since the collapse of two mid-sized U.S. lenders this month, have scrambled to assure customers their deposits are secure after the two bank runs whipsawed the global financial ecosystem.
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