PacWest Bancorp, a regional bank left reeling following the collapse of two rival lenders last month, is exploring a sale of its lender finance arm, according to people familiar with the matter.
The Beverly Hills, California-based bank is working with a financial adviser to solicit interest in the business, said the people, who asked to not be identified because the matter isn’t public. An agreement could be reached within two months, one of the people said.
