Western Alliance Bancorp on Thursday denied a report that said it was exploring a potential sale that sent the lender's shares down more than 60%.
A screen displays the logo and trading info for Western Alliance Bancorporation on the floor of the New York Stock Exchange in New York City, U.S., March 14, 2023. REUTERS/Brendan McDermidon Thursday denied a report that said it was exploring a potential sale that sent the lender's shares down more than 60%.
"Western Alliance is not exploring a sale, nor has it hired an advisor to explore strategic options," the lender said.Earlier in the day, the Financial Times reported that Western Alliance was exploring strategic options including a potential sale of all or part of its business, citing two people briefed on the matter. The bank said the report was false.
Three U.S. regional banks have failed in the last two months, spurring widespread worries about the sector's stability and dashing regulators' hopes of a quick recovery.earlier this week would draw a line under a lingering banking turmoil.
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