The bank said Wednesday that it now has $27.1 billion in deposits, which is down from $33.9 billion at the end of December.
PacWest shares were under pressure after revealing deposit outflows.
The bank also said that it explored raising more capital but decided against doing so because it was not "prudent" given current market conditions. To help manage the deposit outflows, PacWest did borrow more than $16 billion from various government-related programs and received a $1.4 billion in cash from a financing facility with Atlas SP Partners.
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