(Reuters) -PacWest Bancorp said on Thursday that it has been approached by several potential partners and investors, and that those talks are ongoing as it continues to evaluate all options to maximize shareholder value.
The Los Angeles-based lender said it has explored strategic asset sales, including moving its $2.7 billion lender finance loan portfolio to held-for-sale.
PacWest said its cash and available liquidity remains “solid” and has exceeded its uninsured deposits, representing 188% as of May 2.
The bank said it has not experienced out-of-the-ordinary deposit flows following the sale of First Republic Bank to JPMorgan Chase & Co.
PacWest’s core customer deposits increased since March 31, with deposits totaling $28 billion as of May 2, the company said in a statement.
(Reporting by Shivani Tanna in Bengaluru; Editing by Savio D’Souza)
