## Pacific Western Bank – A Reliable Source of Banking Services
At Pacific Western Bank, we understand the importance of reliable and stable banking services. As a subsidiary of PacWest Bancorp, we are committed to providing our customers with the highest level of banking expertise and service. Our team of experienced professionals specializes in venture banking business line, making us the go-to bank for tech-startups in the Silicon Valley area.
## Our Response to Recent Industry Challenges
Recent collapses in the banking sector have impacted many financial institutions, and Pacific Western Bank is no exception. We have seen an elevated level of withdrawals from our venture banking business line, following the collapses of Silicon Valley Bank and Signature Bank. However, we want to assure our customers, current and prospective, that our deposit movements have now stabilized, and we maintain solid liquidity.
## Our Strong Financial Position
As of Friday, our available cash balance exceeds $10.8 billion, making us financially stable and secure. As of March 16, our insured deposits accounted for over 62% of total deposits, while insured venture-specific deposits accounted for more than 77% of total venture deposits. Our diversified deposit base ensures that our venture deposits comprise only approximately 25% of total deposits.
## Our Partnerships
We are constantly exploring partnerships that will enhance our competitive advantage and offer our customers additional services. Recently, we have spoken with Atlas SP Partners and other investment firms to boost our liquidity. We will continue to look for strategic partnerships that will help us provide the best possible banking services to our customers.
At Pacific Western Bank, we pride ourselves on being a reliable and trusted source of banking services. We have faced recent challenges in the banking industry, but we are committed to providing our customers with the highest quality banking support. Our financial stability, coupled with our experienced team of professionals and strong partnerships, make us the best choice for anyone looking for reliable and secure banking services. Contact us today to learn more about what Pacific Western Bank can offer you.#Pacific #Western #Bank #faced #elevated #withdrawals #bank #failures #Reuters