the company cited events which followed JPMorgan's acquisition of troubled First Republic Bank.
"This event heightened market and customer fears of additional bank failures, including PacWest. Our stock price declined approximately 41% from $10.15 on April 28, 2023, to $5.96 on May 5, 2023. On the afternoon of May 3, 2023, PacWest was featured prominently in the financial news headlines with reports that PacWest was"exploring all of its options and having talks with potential investors and partners".
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