BREAKING: Regional banks are under pressure after $PACW said it lost 9.5% of deposits last week.

"It looks like it's too late for this bank," says @Convertbond. "We've lost 5% of deposits at all banks. In 2008, we lost 3%. The speed of information flow has sped up this process."

— Squawk Box (@SquawkCNBC) May 11, 2023