Investing
PacWest Bosses Were Trying to Start Over. Then SVB Failed
- Firm expanded aggressively by acquiring small community banks
- Square 1 deal drew scrutiny after Silicon Valley Bank collapse
This article is for subscribers only.
Even before a series of failures rattled regional banks across the US this year, one knew it needed to enact sweeping changes.
PacWest Bancorp had spent years on a deal spree — splurging on everything from small community banks to a business catering to homeowners associations, to one of the biggest lenders to the security-systems industry, and more.