{"id":34358,"date":"2023-05-04T16:20:20","date_gmt":"2023-05-04T16:20:20","guid":{"rendered":"https:\/\/lynettelockhart.com\/client\/western-alliance-latest-us\/"},"modified":"2023-05-04T16:37:10","modified_gmt":"2023-05-04T16:37:10","slug":"western-alliance-bancorp-denies","status":"publish","type":"post","link":"http:\/\/lynettelockhart.com\/client\/western-alliance-bancorp-denies\/","title":{"rendered":"Western Alliance Bancorp denies report of bank exploring sale"},"content":{"rendered":"<p>(Reuters) -Western Alliance Bancorp on Thursday denied a report that said it was exploring a potential sale that sent the lender&#8217;s shares down more than 60%.<\/p>\n<p>&#8220;Western Alliance is not exploring a sale, nor has it hired an advisor to explore strategic options,&#8221; the lender said.<\/p>\n<p>The bank&#8217;s shares were down 42% at $17.22, with trading in the stock halted multiple times.<\/p>\n<p>Earlier in the day, the Financial Times reported that Western Alliance was exploring strategic options including a potential sale of all or part of its business, citing two people briefed on the matter. The bank said the report was false.<\/p>\n<p>Three U.S. regional banks have failed in the last two months, spurring widespread worries about the sector&#8217;s stability and dashing regulators&#8217; hopes of a quick recovery.<\/p>\n<p>Regulators had hoped that the sale of First Republic Bank to JPMorgan Chase &amp; Co earlier this week would draw a line under a lingering banking turmoil.<\/p>\n<p>On Wednesday, PacWest Bancorp said it was exploring strategic options. The bank was trying to avoid the fate of other regional lenders by proactively finding a solution that bolsters its finances, a source told Reuters.<\/p>\n<p>PacWest shares tumbled nearly 50% to a record low on Thursday.<\/p>\n<p> (Reporting by Manya Saini and Niket Nishant in Bengaluru; Editing by Krishna Chandra Eluri and Shounak Dasgupta)<\/p>\n<p><a href=\"http:\/\/lynettelockhart.com\/client\/western-alliance-denies-report\/traders-work-on-the-floor-of-the-nyse-in-new-71\/\"><img decoding=\"async\" src=\"http:\/\/lynettelockhart.com\/client\/wp-content\/uploads\/Reuters_Direct_Media\/USOnlineReportBusinessNews\/tagreuters.com2023binary_LYNXMPEJ430LT-VIEWIMAGE.jpg\" alt=\"tagreuters.com2023binary_LYNXMPEJ430LT-VIEWIMAGE\"><\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>(Reuters) -Western Alliance Bancorp on Thursday denied a report that said it was exploring a potential sale that sent the lender&#8217;s shares down more than 60%. &#8220;Western Alliance is not exploring a sale, nor has it hired an advisor to explore strategic options,&#8221; the lender said. The bank&#8217;s shares were down 42% at $17.22, with [&hellip;]<\/p>\n","protected":false},"author":8,"featured_media":34359,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"spay_email":"","footnotes":""},"categories":[1213],"tags":[1223],"class_list":["post-34358","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-u-s-business","tag-updated"],"jetpack_featured_media_url":"http:\/\/lynettelockhart.com\/client\/wp-content\/uploads\/Reuters_Direct_Media\/USOnlineReportBusinessNews\/tagreuters.com2023binary_LYNXMPEJ430LT-VIEWIMAGE.jpg","_links":{"self":[{"href":"http:\/\/lynettelockhart.com\/client\/wp-json\/wp\/v2\/posts\/34358","targetHints":{"allow":["GET"]}}],"collection":[{"href":"http:\/\/lynettelockhart.com\/client\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/lynettelockhart.com\/client\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"http:\/\/lynettelockhart.com\/client\/wp-json\/wp\/v2\/users\/8"}],"replies":[{"embeddable":true,"href":"http:\/\/lynettelockhart.com\/client\/wp-json\/wp\/v2\/comments?post=34358"}],"version-history":[{"count":3,"href":"http:\/\/lynettelockhart.com\/client\/wp-json\/wp\/v2\/posts\/34358\/revisions"}],"predecessor-version":[{"id":34497,"href":"http:\/\/lynettelockhart.com\/client\/wp-json\/wp\/v2\/posts\/34358\/revisions\/34497"}],"wp:featuredmedia":[{"embeddable":true,"href":"http:\/\/lynettelockhart.com\/client\/wp-json\/wp\/v2\/media\/34359"}],"wp:attachment":[{"href":"http:\/\/lynettelockhart.com\/client\/wp-json\/wp\/v2\/media?parent=34358"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/lynettelockhart.com\/client\/wp-json\/wp\/v2\/categories?post=34358"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/lynettelockhart.com\/client\/wp-json\/wp\/v2\/tags?post=34358"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}