Western Alliance Bank Shares Plunge, Denies Looking for Buyer Amid Banking Sector Turmoil

Western Alliance Bancorp has said Thursday there’s no truth to reports that it’s exploring a possible sale of some or all of its business as shares of the bank plunged 45 percent in early trading, before clawing back some of the losses, which comes amid a broader regional bank stock rout.
In a statement Thursday, Western Alliance said that any reports claiming that the bank is considering a potential sale of all or part of its business is “categorically false.”
“Western Alliance is not exploring a sale, nor has it hired an advisor to explore strategic options,” the bank said….