https://sputnikglobe.com/20230504/trading-halted-in-shares-of-western-alliance-latest-us-bank-in-trouble-after-pacwest-1110096945.html
Trading Halted in Shares of Western Alliance, Latest US Bank in Trouble After PacWest
Trading Halted in Shares of Western Alliance, Latest US Bank in Trouble After PacWest
Sputnik International
Trading in the shares of Western Alliance Bancorporation was halted on Thursday as they plunged 25% in value after the Phoenix-based lender joined Los Angeles-based PacWest in becoming the latest US banking casualties.
2023-05-04T16:16+0000
2023-05-04T16:16+0000
2023-05-04T16:16+0000
economy
economic crisis
silicon valley bank collapse
us financial crisis
us
jpmorgan chase
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Trading in Western Alliance was suspended at $16.19 a share, versus its previous year’s high of $86.87, by the New York Stock Exchange, which was "waiting for additional information," US media reports said. As late as Wednesday, Western Alliance said it had not experienced any unusual deposit outflows — which had been the main reason for the spate of US banking failures over the past two months. The US media reported on Thursday that Western Alliance was mulling "options, including a potential sale." If indeed true, it would be the latest US bank to be sold after San Francisco-based First Republic, which earlier this week was acquired by JPMorgan Chase, the largest US banking group. Western Alliance is also the fifth US lender in trouble after Silicon Valley Bank and Signature Bank — the two rescued by the US government’s Federal Insurance Deposit Corporation in March — and PacWest, whose shares were also tumbling on Thursday. Shares of PacWest were at $2.57 at the time of writing, down 60% on the day, versus their previous year’s high of $34.21.
https://sputnikglobe.com/20230316/silicon-valley-bank-was-canary-in-the-coal-mine-of-deepening-finance-crisis-1108452689.html
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western alliance in trouble, us banking system crisis, silicon valley collapse
western alliance in trouble, us banking system crisis, silicon valley collapse
Trading Halted in Shares of Western Alliance, Latest US Bank in Trouble After PacWest
NEW YORK (Sputnik) - Trading in the shares of Western Alliance Bancorporation was halted on Thursday as they plunged 25% in value after the Phoenix-based lender joined Los Angeles-based PacWest in becoming the latest US banking casualties.
Trading in Western Alliance was suspended at $16.19 a share, versus its previous year’s high of $86.87, by the New York Stock Exchange, which was "waiting for additional information," US media reports said.
As late as Wednesday, Western Alliance said it had not experienced any unusual deposit outflows — which had been the main reason for the spate of US banking failures over the past two months.
The US media reported on Thursday that Western Alliance was mulling "options, including a potential sale."
If indeed true, it would be the latest US bank to be sold after San Francisco-based First Republic, which earlier this week was acquired by JPMorgan Chase, the largest US banking group.
Western Alliance is also the fifth
US lender in trouble after Silicon Valley Bank and Signature Bank — the two rescued by the US government’s Federal Insurance Deposit Corporation in March — and PacWest, whose shares were also tumbling on Thursday.
Shares of
PacWest were at $2.57 at the time of writing, down 60% on the day, versus their previous year’s high of $34.21.
