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May 23 – PacWest Bancorp’s (PACW.O) shares rose nearly 13%, extending gains from the previous session driven mostly by news that the lender would sell $2.6 billion worth of its loan portfolio to bolster its finances.
The stock was trading up at $7.06 on Tuesday, helping to lift the shares of other regional lenders with the KBW Regional Banking Index (.KRX) and the S&P Regional Banks Index (.SPCOMBNKS) each gaining more than 2%.
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