PacWest Stock Surges 82%, Regional Banks Recover After Selloff

Shares of under-fire regional banks surged to recover some of their lost ground on Friday, though many still ended the week nursing hefty losses.

Bankers and government officials hoped the sale of First Republic Bank to JPMorgan Chase on Monday would draw a line under upheaval from the collapses of Silicon Valley Bank and Signature Bank in March. But investors continued to hunt for weak links for much of the week, dumping shares of midsize and smaller banks.