“We have been executing this strategy and have accelerated many of these goals in response to recent market volatility in the banking industry,” PacWest’s statement said.

Shares of PacWest were down 41.59% as of 9:30 a.m. EDT, joining other regional banks are under pressure with falling stock prices, including Western Alliance Bancorp, down 14.81% and Zions Bancorp, down 4.3%.

With several West Coast regional banks still suffering collateral financial damage from the Silicon Valley Bank, Signature Bank and First Republic Bank failures, PacWest insisted it is solid but considering “all options” and is in talks with possible partners and investors.

It also said it has not experienced any run on deposits in the wake of the sale of troubled First Republic Bank.

“The bank has not experienced out-of-the-ordinary deposit flows following the sale of First Republic Bank and other news,” PacWest said. “In addition, the company recently paid down $1 billion of borrowings with our excess liquidity. Our cash and available liquidity remains solid and exceeded our uninsured deposits, representing 188% as of May 2, 2023.”

PacWest reported total deposits were approximately $5 billion lower at the end of first quarter 2023 than they were at the end of the fourth quarter 2022.

But PacWest’s Thursday statement said core customer deposits have increased since March 31, with total deposits of $28 billion as of May 2.

With its share price tumbling, PacWest said it is exploring “strategic asset sales” that include planning to sell its $2.7 billion Lender Finance portfolio.

According to PacWest that planned sale remains “on track.”

“Additionally, in accordance with normal practices the Company and its Board of Directors continuously review strategic options,” PacWest’s Thursday statement said. “Recently, the Company has been approached by several potential partners and investors – discussions are ongoing. The company will continue to evaluate all options to maximize shareholder value.”