More regional bank stocks slide, but deposits aren’t fleeing

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More regional bank stocks slide, but deposits aren’t fleeing
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PacWest Bancorp is the latest regional financial institution to come under pressure amid rising interest rates.

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“The market is just moving on from First Republic, looking for the next weakest gazelle,” said David Smith, a banking analyst with Autonomous Research.

There is no public indication of a similar exodus at either of the banks that investors hammered Thursday. “It’s really an issue of perception and the extent to which it carries over to deposits,” Smith said.

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