Regional banks PacWest, Western Alliance close lower amid uncertainties in bank deposits

Let's check in on one of the big stories of the day and that's regional banks. Pac-West shares plunging after reporting that deposits fell about 9% last week. We're looking at a loss of just about 22% Western Alliance on the other hand, saying that their deposits increased by 600 million to 49.4 billion for the week through Tuesday and Nikiko, we were just talking to David Chevarini of Wedbush last hour. And he was basically saying that it's two very different scenarios. When you take a look at Western Alliance, a company that he actually thinks could be in an attractive buying opportunity and attractive valuation right now, that the deposit flows there have stabilized and that they're trending in the right direction. Still though, clearly a lot of fear about the next couple of months, next couple of weeks for Pac-West.

Yeah, with Pac-West, I mean, it's worth noting that those deposit declines that they talked about today, that was on May 4th and 5th. Remember, we were covering that when there were reports out there that they could potentially be exploring a sale. So, I mean, it's important to put that in perspective, regardless of that though, Shana, as you say, just a lot of jitters around regional banks and where they are, that feels like we're starting to see a bit of a differentiation in the market right now.

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