Western Alliance Exploring Options Including a Sale, FT Reports

Western Alliance Bancorp is exploring strategic options including a possible sale of all or a part of its business amid turmoil in the US regional-banking sector, the Financial Times reported, citing two people familiar with the matter.

The Phoenix-based company has hired advisers to explore its options, the people told the newspaper, adding that the bank’s deliberations were at an early stage and might not come to anything.

A Western Alliance representative said the bank had no immediate comment.

Shares of the bank, which lost 50% this year through Wednesday, continued to slide Thursday even after the company said ...