Western Alliance Bancorporation
04/21/2026 | Press release | Distributed by Public on 04/21/2026 14:26
Western Alliance Bancorporation Reports First Quarter 2026 Financial Results
Western Alliance Bancorporation Reports First Quarter 2026 Financial Results
April 21, 2026
PHOENIX--(BUSINESS WIRE)-- Western Alliance Bancorporation (NYSE:WAL):
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Quarter Highlights: |
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Net income |
Earnings per share |
PPNR1 |
Net interest margin |
Efficiency ratio1 |
Book value per common share |
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$189.2 million |
$1.65 |
$444.5 million |
3.54% |
55.8% |
$67.03 |
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$251.3 million, as adjusted1 |
$2.22, as adjusted1 |
$394.0 million, as adjusted1 |
47.5%, adjusted for deposit costs1 |
$61.14, excluding goodwill and intangibles1 |
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CEO COMMENTARY: |
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Western Alliance achieved solid first quarter results featuring robust deposit growth, net interest margin expansion, and core earnings momentum, while taking decisive action to resolve two fraud-related credits, partially offset by gains from a series of well-executed security sales," said Kenneth A. Vecchione, President and Chief Executive Officer. "Continued business strength drove quarterly loan and deposit growth of $465 million and $5.6 billion, respectively, and generated adjusted earnings per share1 of $2.22, excluding $0.57 of notable items. Net interest margin of 3.54% expanded 3 basis points as the cost of interest-bearing deposits declined 21 basis points, which sustained net interest income despite two fewer days in the quarter. Core asset quality remained stable and steady as the total classified assets ratio declined 9 basis points to 1.08% and net loan charge-offs to average loans1 were 0.39%, excluding fraud-related charge-offs. Overall, tangible book value per share1 climbed 13.0% year-over-year to $61.14 with a stable CET1 ratio of 11.0%, while we completed opportunistic quarterly share repurchases of $50.0 million." |
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LINKED-QUARTER BASIS |
YEAR-OVER-YEAR |
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The Company's first quarter 2026 financial results reflect an increased provision for credit losses related to the charge-off of the remaining $126.4 million Leucadia Asset Management LLC ("LAM") loan, partially offset by $50.5 million in gains from security sales. The adjusted metrics below exclude the impact of these items, as well as a $26.1 million charge-off from the specific reserve previously established on the Cantor Group V, LLC ("Cantor") loan. For reconciliations of the non-GAAP financial measures that exclude the effects of these actions, refer to the reconciliations. |
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FINANCIAL HIGHLIGHTS: |
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FINANCIAL POSITION RESULTS: |
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LOANS AND ASSET QUALITY: |
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1See Reconciliation of Non-GAAP Financial Measures. |
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FIRST QUARTER 2026 FINANCIAL RESULTS
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LINKED-QUARTER BASIS |
YEAR-OVER-YEAR |
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The Company's first quarter 2026 financial results reflect an increased provision for credit losses related to the charge-off of the remaining $126.4 million Leucadia Asset Management LLC ("LAM") loan, partially offset by $50.5 million in gains from security sales. The adjusted metrics below exclude the impact of these items, as well as a $26.1 million charge-off from the specific reserve previously established on the Cantor Group V, LLC ("Cantor") loan. For reconciliations of the non-GAAP financial measures that exclude the effects of these actions, refer to the reconciliations. |
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KEY PERFORMANCE METRICS: |
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1 See Reconciliation of Non-GAAP Financial Measures. |
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Income Statement
The Company's first quarter 2026 financial results reflect the impact to provision for credit losses, arising from the charge-off of the remaining $126.4 million balance of the LAM loan. This impact was partially offset by $50.5 million in gains from security sales for the quarter. For reconciliations of the non-GAAP financial measures that exclude the effects of these actions, refer to the reconciliations.
Net interest income totaled $766.3 million in the first quarter 2026, which was relatively flat from $766.2 million in the fourth quarter 2025, but represented an increase of $115.7 million, or 17.8%, compared to the first quarter 2025. The slight increase in net interest income from the fourth quarter 2025 was primarily due to lower deposit and borrowing costs and an increase in average interest bearing assets, which were largely offset by declining yields on interest earning assets. The increase in net interest income from the first quarter 2025 was driven by an increase in average interest earning asset balances and lower rates on interest bearing liabilities, partially offset by an increase in average interest bearing liabilities balances and declining yields on interest earning assets.
The Company recorded a provision for credit losses of $213.2 million in the first quarter 2026, an increase of $140.2 million from $73.0 million in the fourth quarter 2025, and an increase of $182.0 million from $31.2 million in the first quarter 2025. The provision for credit losses during the first quarter 2026 was primarily driven by higher net charge-offs totaling $208.5 million, which included a charge-off of $126.4 million for the remaining balance of the LAM loan and a $26.1 million charge-off from the specific reserve previously established on the Cantor loan.
The Company's net interest margin was 3.54% in the first quarter 2026, an increase from 3.51% in the fourth quarter 2025, and an increase from 3.47% in the first quarter 2025. Net interest margin increased from the fourth quarter 2025 due to lower rates on deposits and short-term borrowings, partially offset by declining yields on interest earning assets. The increase in net interest margin from the first quarter 2025 was primarily driven by a reduction in interest bearing liability costs resulting from a lower rate environment, partially offset by declining yields on interest earning assets.
Non-interest income was $252.6 million for the first quarter 2026, compared to $214.7 million for the fourth quarter 2025, and $127.4 million for the first quarter 2025. The increase in non-interest income of $37.9 million from the fourth quarter 2025 was primarily due to increases in gain on sales of investment securities of $43.1 million and service charges and fees of $14.9 million, partially offset by a lower net gain on mortgage loan origination and sale activities of $18.4 million. The increase in non-interest income of $125.2 million from the first quarter 2025 was primarily driven by increases in gain on sales of investment securities, service charges and fees, net gain on mortgage loan origination and sale activities, and income from equity investments. These increases were partially offset by a decrease in net loan servicing revenue.
Net revenue totaled $1.0 billion for the first quarter 2026, an increase of $38.0 million, or 3.9%, compared to $980.9 million for the fourth quarter 2025, and an increase of $240.9 million, or 31.0%, compared to $778.0 million for the first quarter 2025.
Non-interest expense was $574.4 million for the first quarter 2026, compared to $552.2 million for the fourth quarter 2025, and $500.4 million for the first quarter 2025. The increase in non-interest expense of $22.2 million from the fourth quarter 2025 was primarily due to an increase of $21.2 million in other non-interest expense and $7.0 million in insurance costs. The increase in other non-interest expense was primarily driven by costs associated with Juris banking, which had comparable growth in service charges and fees within non-interest income, as well as OREO-related charges. Insurance costs increased primarily due to a reduction in the FDIC special assessment recognized in the fourth quarter 2025. These increases were partially offset by a $7.9 million reduction in deposit costs. The increase in non-interest expense of $74.0 million from the first quarter 2025 was primarily attributable to increased deposit costs of $26.5 million, increased salaries and employee benefits of $23.1 million, and a $19.4 million increase in other non-interest expense largely related to Juris banking. These increases were partially offset by decreased insurance costs of $13.2 million. The Company's efficiency ratio was 55.8% for the first quarter 2026, compared to 55.7% for the fourth quarter 2025, and 63.5% for the first quarter 2025. The Company's efficiency ratio, adjusted for deposit costs1, was 47.5% for the first quarter 2026, compared to 46.5% in the fourth quarter 2025, and 55.8% for the first quarter 2025.
Income tax expense was $42.1 million for the first quarter 2026, compared to $62.5 million for the fourth quarter 2025, and $47.3 million for the first quarter 2025. The decrease in income tax expense from the fourth quarter 2025 and the first quarter 2025 was primarily driven by lower pre-tax income.
Net income was $189.2 million (or $251.3 million, as adjusted1) for the first quarter 2026, a decrease of $104.0 million from $293.2 million for the fourth quarter 2025, and a decrease of $9.9 million from $199.1 million for the first quarter 2025. Earnings per share totaled $1.65 (or $2.22, as adjusted1) for the first quarter 2026, compared to $2.59 for the fourth quarter 2025, and $1.79 for the first quarter 2025.
The Company believes its pre-provision net revenue1 ("PPNR") is a key metric for assessing the Company's earnings power, which it defines as net revenue less non-interest expense. For the first quarter 2026, the Company's PPNR1 was $444.5 million, up $15.8 million from $428.7 million in the fourth quarter 2025, and up $166.9 million from $277.6 million in the first quarter 2025.
1 See Reconciliation of Non-GAAP Financial Measures.
Balance Sheet
HFI loans, net of deferred fees, totaled $59.1 billion at March 31, 2026, compared to $58.7 billion at December 31, 2025, and $54.8 billion at March 31, 2025. The increase in HFI loans of $465 million from the prior quarter was primarily driven by increases of $295 million and $113 million in commercial and industrial loans and residential real estate loans, respectively. The increase in HFI loans of $4.4 billion from March 31, 2025 was primarily driven by increases of $4.1 billion, $490 million, and $304 million in commercial and industrial, residential real estate, and commercial real estate non-owner occupied loans, respectively, partially offset by a decrease of $424 million in construction and land development loans. HFS loans totaled $3.9 billion at March 31, 2026, $3.5 billion at December 31, 2025, and $3.2 billion at March 31, 2025. The increase in HFS loans of $438 million from December 31, 2025 was primarily driven by increases of $345 million and $113 million in government-insured or guaranteed and agency-conforming mortgage loans, respectively. The increase in HFS loans of $698 million from March 31, 2025 was primarily driven by increases of $689 million and $110 million in government-insured or guaranteed and non-agency mortgage loans, respectively, partially offset by a $167 million decrease in agency-conforming mortgage loans.
The Company's allowance for credit losses on HFI loans consists of an allowance for funded HFI loans and an allowance for unfunded loan commitments. The allowance for loan losses to funded HFI loans ratio was 0.78% at both at March 31, 2026 and December 31, 2025, and 0.71% , and March 31, 2025. The allowance for credit losses, which includes the allowance for unfunded loan commitments, to funded HFI loans ratio was 0.87% at both March 31, 2026 and December 31, 2025, and 0.77% at March 31, 2025. The Company is a party to credit linked note transactions which effectively transfer a portion of the risk of losses on reference pools of loans to the purchasers of the notes. The Company is protected from first credit losses on reference pools of loans totaling $7.9 billion, $8.1 billion, and $8.5 billion as of March 31, 2026, December 31, 2025, and March 31, 2025, respectively, under these transactions. However, as these note transactions are considered to be free standing credit enhancements, the allowance for credit losses cannot be reduced by the expected credit losses that may be mitigated by these notes. Accordingly, the allowance for loan and credit losses ratios include an allowance related to these pools of loans of $11.2 million as of March 31, 2026, $11.8 million as of December 31, 2025, and $11.9 million as of March 31, 2025. The allowance for credit losses to funded HFI loans ratio, adjusted to reduce the HFI loan balance by the amount of loans in covered reference pools, was 1.00% at March 31, 2026, 1.01% at December 31, 2025, and 0.92% at March 31, 2025.
Deposits totaled $82.7 billion at March 31, 2026, an increase of $5.6 billion from December 31, 2025, and an increase of $13.4 billion from $69.3 billion at March 31, 2025. By deposit type, the increase from the prior quarter is primarily attributable to increases of $3.7 billion, $969 million, and $828 million from non-interest bearing deposits, interest-bearing demand deposits and savings and money market accounts, respectively. From March 31, 2025, non-interest bearing deposits, interest-bearing demand deposits, and savings and money market accounts increased $6.1 billion, $3.9 billion, and $3.7 billion, respectively. Non-interest bearing deposits totaled $28.1 billion at March 31, 2026, compared to $24.4 billion at December 31, 2025, and $22.0 billion at March 31, 2025.
The table below shows the Company's deposit types as a percentage of total deposits:
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Mar 31, 2026 |
Dec 31, 2025 |
Mar 31, 2025 |
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Non-interest bearing |
34.0 |
% |
31.5 |
% |
31.8 |
% |
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Interest-bearing demand |
23.4 |
23.9 |
22.4 |
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Savings and money market |
30.7 |
31.9 |
31.3 |
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Certificates of deposit |
11.9 |
12.7 |
14.5 |
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The Company's ratio of HFI loans to deposits was 71.5% at March 31, 2026, compared to 76.0% at December 31, 2025, and 79.0% at March 31, 2025.
Borrowings totaled $5.6 billion at March 31, 2026, $5.2 billion at December 31, 2025, and $4.2 billion at March 31, 2025. Borrowings increased $370 million from December 31, 2025 driven by a $676 million increase in short-term borrowings, partially offset by a $307 million decrease in long-term borrowings. Borrowings increased $1.5 billion from March 31, 2025, reflecting an increase in short-term borrowings of $2.0 billion, partially offset by a $529 million decrease in long-term borrowings.
Qualifying debt totaled $1.1 billion at March 31, 2026, consistent with the balance at December 31, 2025, and up from $898 million at March 31, 2025. The increase in qualifying debt from March 31, 2025 was primarily due to the issuance of $400 million of subordinated debt during the quarter ended December 31, 2025, partially offset by the repayment of $225 million of subordinated debt during the quarter ended June 30, 2025.
Total equity was $7.9 billion at March 31, 2026, relatively flat from December 31, 2025, and up from $7.2 billion at March 31, 2025. Total equity was flat from the prior quarter, primarily due to net income of $189.2 million, partially offset by changes in accumulated other comprehensive income of $112 million and cash dividends paid during the first quarter, comprised of $46.1 million, or $0.42 per common share, $3.2 million or $0.27 per depositary share, and $7.1 million on preferred stock of the Company's REIT subsidiary. In addition, the Company repurchased 0.7 million shares for $50.0 million during the first quarter of 2026 under the Company's $300 million share repurchase program. The increase in equity from March 31, 2025 was primarily driven by net income, partially offset by dividends to stockholders and share repurchases.
The Company's common equity tier 1 capital ratio was 11.0% at March 31, 2026 and December 31, 2025, compared to 11.1% at March 31, 2025. At March 31, 2026, tangible common equity, net of tax1, was 6.8% of tangible assets1 and total capital was 14.4% of risk-weighted assets. The Company's tangible book value per share1 was $61.14 at March 31, 2026, relatively flat from $61.29 at December 31, 2025, and an increase of 13.0% from $54.10 at March 31, 2025. The increase in tangible book value per share from March 31, 2025 was primarily attributable to net income.
Total assets increased $6.1 billion, or 6.6%, to $98.9 billion at March 31, 2026 from $92.8 billion at December 31, 2025, and increased 19.0% from $83.0 billion at March 31, 2025. The increase in total assets from December 31, 2025 was primarily driven by increased cash as well as HFI and HFS loans. The increase in total assets from March 31, 2025 was primarily driven by increased cash, investment securities, and HFI and HFS loans.
1 See Reconciliation of Non-GAAP Financial Measures.
Asset Quality
Provision for credit losses totaled $213.2 million for the first quarter 2026, compared to $73.0 million for the fourth quarter 2025, and $31.2 million for the first quarter 2025. Net loan charge-offs in the first quarter 2026 totaled $208.5 million, or 1.45% of average loans (annualized), compared to $44.6 million, or 0.31%, in the fourth quarter 2025, and $25.8 million, or 0.20%, in the first quarter 2025. Net loan charge-offs for the first quarter 2026 included charge-offs for the LAM and Cantor loans totaling $152.5 million. Excluding these two fraud-related charge-offs, net loan charge-offs1 were $56.0 million, or 0.39% of average loans (annualized)1 in the first quarter 2026.
Nonaccrual loans decreased $8 million to $492 million during the quarter and increased $41 million from March 31, 2025. Loans past due 90 days and still accruing interest totaled $56 million at March 31, 2026, $66 million at December 31, 2025, and $44 million at March 31, 2025 (excluding government guaranteed loans of $288 million, $290 million, and $275 million, respectively). Loans past due 30-89 days and still accruing interest totaled $157 million at March 31, 2026, an increase from $108 million at December 31, 2025, and a decrease from $182 million at March 31, 2025 (excluding government guaranteed loans of $94 million, $145 million, and $161 million, respectively). Criticized loans of $1.4 billion increased $75 million during the quarter and decreased $254 million from March 31, 2025.
Repossessed assets totaled $123 million at March 31, 2026, compared to $137 million at December 31, 2025, and $51 million at March 31, 2025. Classified assets of $1.1 billion at March 31, 2026 decreased $18 million from December 31, 2025, and decreased $125 million from March 31, 2025.
The ratio of classified assets to Tier 1 capital plus the allowance for credit losses2, a common regulatory measure of asset quality, was 13.0% at March 31, 2026, compared to 13.3% at December 31, 2025, and 15.9% at March 31, 2025.
1 See Reconciliation of Non-GAAP Financial Measures.
2 The allowance for credit losses used in this ratio is calculated in accordance with regulatory capital rules.
Conference Call and Webcast
Western Alliance Bancorporation will host a conference call and live webcast to discuss its first quarter 2026 financial results at 12:00 p.m. ET on Wednesday, April 22, 2026. Participants may access the call by dialing 1-888-596-4144 and using access code 9350603 or via live audio webcast using the website link https://events.q4inc.com/attendee/403697580. The webcast is also available via the Company's website at www.westernalliancebancorporation.com. Participants should log in at least 15 minutes early to receive instructions. The call will be recorded and made available for replay after 3:00 p.m. ET April 22nd through 1:00 p.m. ET April 29th by dialing 1-800-770-2030, using access code 9350603.
Reclassifications
Certain amounts in the Consolidated Income Statements for the prior periods have been reclassified to conform to the current presentation. The reclassifications have no effect on net income or stockholders' equity as previously reported.
Use of Non-GAAP Financial Information
This press release contains both financial measures based on GAAP and non-GAAP based financial measures, which are used where management believes them to be helpful in understanding the Company's results of operations or financial position. Where non-GAAP financial measures are used, the comparable GAAP financial measure, as well as the reconciliation to the comparable GAAP financial measure, can be found in this press release. These disclosures should not be viewed as a substitute for operating results determined in accordance with GAAP, nor are they necessarily comparable to non-GAAP performance measures that may be presented by other companies.
Cautionary Note Regarding Forward-Looking Statements
This release contains forward-looking statements that relate to expectations, beliefs, projections, future plans and strategies, anticipated events or trends and similar expressions concerning matters that are not historical facts. Examples of forward-looking statements include, among others, statements we make regarding our expectations with regard to our business, financial and operating results, including our deposits, liquidity and funding, changes in economic conditions and related impacts on the Company's business, future economic performance and dividends. The forward-looking statements contained herein reflect our current views about future events and financial performance and are subject to risks, uncertainties, assumptions and changes in circumstances that may cause our actual results to differ significantly from historical results and those expressed in any forward-looking statement. Some factors that could cause actual results to differ materially from historical or expected results include, among others: the risk factors discussed in the Company's Annual Report on Form 10-K for the year ended December 31, 2025, as filed with the Securities and Exchange Commission; adverse developments in the financial services industry generally and any related impact on depositor behavior; risks related to the sufficiency of liquidity; changes in international trade policies, tariffs and treaties affecting imports and exports, trade disputes, barriers to trade or the emergence of other trade restrictions, and their related impacts on macroeconomic conditions and customer behavior; the potential adverse effects of unusual and infrequently occurring events and any governmental or societal responses thereto; changes in general economic conditions, either nationally or locally in the areas in which we conduct or will conduct our business; the impact on financial markets from geopolitical conflicts such as the wars in Ukraine and the Middle East; inflation, interest rate, market and monetary fluctuations; increases in competitive pressures among financial institutions and businesses offering similar products and services; higher defaults on our loan portfolio than we expect; increased foreclosures and ownership of real property; changes in management's estimate of the adequacy of the allowance for credit losses; technological risks and developments and cyber threats, attacks or events; emerging external focus among regulators and other officials related to risks in connection with the development and use of artificial intelligence; legislative or regulatory changes or changes in accounting principles, policies or guidelines; supervisory actions by regulatory agencies which may limit our ability to pursue certain growth opportunities, including expansion through acquisitions; additional regulatory requirements resulting from our continued growth; management's estimates and projections of interest rates and interest rate policy; the execution of our business plan; the outcome of legal proceedings regarding the Cantor Group V loan and the Leucadia Asset Management LLC loan, the amount of funds and/or collateral that may be available for repayment of such loans, and any adverse economic or other events impacting the collateral, borrower or guarantors with respect to such loans; and other factors affecting the financial services industry generally or the banking industry in particular.
Any forward-looking statement made by us in this release is based only on information currently available to us and speaks only as of the date on which it is made. We do not intend and disclaim any duty or obligation to update or revise any industry information or forward-looking statements, whether written or oral, that may be made from time to time, set forth in this press release to reflect new information, future events or otherwise, except to the extent required by applicable law. In light of these risks, uncertainties and assumptions, the forward-looking events discussed in this press release might not occur, and you should not put undue reliance on any forward-looking statements.
About Western Alliance Bancorporation
Western Alliance Bancorporation (NYSE:WAL) is one of the country's top-performing banking companies. Its primary subsidiary, Western Alliance Bank, Member FDIC, is a leading national bank for business that puts customers first, delivering tailored business banking solutions and consumer products backed by outstanding, personalized service and specific expertise in more than 30 industries and sectors. With $90 billion in assets and offices nationwide, Western Alliance has ranked as a top U.S. bank by American Banker and Bank Director since 2016. In 2025, Western Alliance Bancorporation was #2 for Best CEO, Best CFO and Best Company Board of Directors on Extel's All-America Executive Team Midcap Banks list. For more information on offerings, subsidiaries and affiliates, visit www.westernalliancebank.com or follow Western Alliance Bank on LinkedIn.
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Western Alliance Bancorporation and Subsidiaries |
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Summary Consolidated Financial Data |
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Unaudited |
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Selected Balance Sheet Data: |
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As of March 31, |
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2026 |
2025 |
Change % |
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(in millions) |
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Total assets |
$ |
98,853 |
$ |
83,043 |
19.0 |
% |
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Loans held for sale |
3,936 |
3,238 |
21.6 |
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Loans HFI, net of deferred fees |
59,142 |
54,761 |
8.0 |
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Investment securities |
20,392 |
15,868 |
28.5 |
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Total deposits |
82,723 |
69,322 |
19.3 |
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Borrowings |
5,610 |
4,151 |
35.1 |
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Qualifying debt |
1,072 |
898 |
19.4 |
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Total equity |
7,908 |
7,215 |
9.6 |
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Tangible common equity, net of tax (1) |
6,677 |
5,973 |
11.8 |
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Common equity Tier 1 capital |
7,050 |
6,311 |
11.7 |
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Selected Income Statement Data: |
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For the Three Months Ended March 31, |
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2026 |
2025 |
Change % |
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(in millions, except per share data) |
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Interest income |
$ |
1,188.2 |
$ |
1,095.6 |
8.5 |
% |
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Interest expense |
421.9 |
445.0 |
(5.2 |
) |
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Net interest income |
766.3 |
650.6 |
17.8 |
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Provision for credit losses |
213.2 |
31.2 |
NM |
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Net interest income after provision for credit losses |
553.1 |
619.4 |
(10.7 |
) |
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Non-interest income |
252.6 |
127.4 |
98.3 |
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Non-interest expense |
574.4 |
500.4 |
14.8 |
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Income before income taxes |
231.3 |
246.4 |
(6.1 |
) |
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Income tax expense |
42.1 |
47.3 |
(11.0 |
) |
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Net income |
189.2 |
199.1 |
(5.0 |
) |
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Net income attributable to noncontrolling interest |
7.1 |
- |
NM |
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Net income attributable to Western Alliance |
182.1 |
199.1 |
(8.5 |
) |
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Dividends on preferred stock |
3.2 |
3.2 |
- |
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Net income available to common stockholders |
$ |
178.9 |
$ |
195.9 |
(8.7 |
) |
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Diluted earnings per common share |
$ |
1.65 |
$ |
1.79 |
(7.8 |
) |
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(1) |
See Reconciliation of Non-GAAP Financial Measures. |
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NM |
Changes +/- 100% are not meaningful. |
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Western Alliance Bancorporation and Subsidiaries |
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Summary Consolidated Financial Data |
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Unaudited |
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Common Share Data: |
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At or For the Three Months Ended March 31, |
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2026 |
2025 |
Change % |
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Diluted earnings per common share / as adjusted (1) |
$ |
1.65 |
/ |
$ |
2.22 |
$ |
1.79 |
(7.8 |
)% |
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Book value per common share |
67.03 |
60.03 |
11.7 |
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Tangible book value per common share, net of tax (1) |
61.14 |
54.10 |
13.0 |
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Average common shares outstanding (in millions): |
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Basic |
108.2 |
108.8 |
(0.6 |
) |
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Diluted |
108.7 |
109.6 |
(0.8 |
) |
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Common shares outstanding |
109.2 |
110.4 |
(1.1 |
) |
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Selected Performance Ratios: |
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Return on average assets / as adjusted (1, 2) |
0.80% / |
1.07 |
% |
0.97 |
% |
(17.5 |
)% |
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Return on average tangible common equity / as adjusted (1, 2) |
10.5 / |
14.2 |
13.4 |
(21.6 |
) |
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Net interest margin (2) |
3.54 |
3.47 |
2.0 |
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Efficiency ratio (1) |
55.8 |
63.5 |
(12.1 |
) |
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Efficiency ratio, adjusted for deposit costs (1) |
47.5 |
55.8 |
(14.9 |
) |
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HFI loan to deposit ratio |
71.5 |
79.0 |
(9.5 |
) |
||||||||
|
Asset Quality Ratios: |
||||||||||||
|
Net charge-offs to average loans outstanding / as adjusted (1, 2) |
1.45% / |
0.39 |
% |
0.20 |
% |
NM |
||||||
|
Nonaccrual loans to funded HFI loans |
0.83 |
0.82 |
1.2 |
|||||||||
|
Nonaccrual loans and repossessed assets to total assets |
0.62 |
0.60 |
3.3 |
|||||||||
|
Allowance for loan losses to funded HFI loans |
0.78 |
0.71 |
9.9 |
|||||||||
|
Allowance for credit losses to funded HFI loans |
0.87 |
0.77 |
13.0 |
|||||||||
|
Allowance for loan losses to nonaccrual HFI loans |
94 |
86 |
9.3 |
|||||||||
|
Allowance for credit losses to nonaccrual HFI loans |
105 |
94 |
11.7 |
|||||||||
|
Capital Ratios: |
|||||||||
|
Mar 31, 2026 |
Dec 31, 2025 |
Mar 31, 2025 |
|||||||
|
Tangible common equity (1) |
6.8 |
% |
7.3 |
% |
7.2 |
% |
|||
|
Common Equity Tier 1 (3) |
11.0 |
11.0 |
11.1 |
||||||
|
Tier 1 Leverage ratio (3) |
8.1 |
8.2 |
8.6 |
||||||
|
Tier 1 Capital (3) |
12.0 |
12.1 |
12.3 |
||||||
|
Total Capital (3) |
14.4 |
14.5 |
14.5 |
||||||
|
(1) |
See Reconciliation of Non-GAAP Financial Measures. |
|||||||
|
(2) |
Annualized on an actual/actual basis for periods less than 12 months. |
|||||||
|
(3) |
Capital ratios for March 31, 2026 are preliminary. |
|||||||
|
NM |
Changes +/- 100% are not meaningful. | |||||||
|
Western Alliance Bancorporation and Subsidiaries |
||||||||
|
Condensed Consolidated Income Statements |
||||||||
|
Unaudited |
||||||||
|
Three Months Ended March 31, |
||||||||
|
2026 |
2025 |
|||||||
|
(in millions, except per share data) |
||||||||
|
Interest income: |
||||||||
|
Loans |
$ |
915.7 |
$ |
881.0 |
||||
|
Investment securities |
219.9 |
168.0 |
||||||
|
Other |
52.6 |
46.6 |
||||||
|
Total interest income |
1,188.2 |
1,095.6 |
||||||
|
Interest expense: |
||||||||
|
Deposits |
360.7 |
378.3 |
||||||
|
Qualifying debt |
13.1 |
9.3 |
||||||
|
Borrowings |
48.1 |
57.4 |
||||||
|
Total interest expense |
421.9 |
445.0 |
||||||
|
Net interest income |
766.3 |
650.6 |
||||||
|
Provision for credit losses |
213.2 |
31.2 |
||||||
|
Net interest income after provision for credit losses |
553.1 |
619.4 |
||||||
|
Non-interest income: |
||||||||
|
Service charges and fees |
88.5 |
40.5 |
||||||
|
Net gain on mortgage loan origination and sale activities |
72.7 |
49.5 |
||||||
|
Net loan servicing (loss) revenue |
(1.3 |
) |
21.8 |
|||||
|
Income from bank owned life insurance |
10.7 |
11.4 |
||||||
|
Gain on sales of investment securities |
50.5 |
2.1 |
||||||
|
Fair value gain adjustments, net |
3.1 |
1.0 |
||||||
|
Income (loss) from equity investments |
13.3 |
(4.8 |
) |
|||||
|
Other |
15.1 |
5.9 |
||||||
|
Total non-interest income |
252.6 |
127.4 |
||||||
|
Non-interest expenses: |
||||||||
|
Salaries and employee benefits |
205.5 |
182.4 |
||||||
|
Deposit costs |
163.3 |
136.8 |
||||||
|
Data processing |
53.1 |
45.2 |
||||||
|
Legal, professional, and directors' fees |
30.6 |
28.9 |
||||||
|
Insurance |
24.7 |
37.9 |
||||||
|
Occupancy |
19.2 |
17.2 |
||||||
|
Loan servicing expenses |
16.7 |
16.4 |
||||||
|
Business development and marketing |
9.5 |
5.9 |
||||||
|
Loan acquisition and origination expenses |
7.9 |
5.2 |
||||||
|
Other |
43.9 |
24.5 |
||||||
|
Total non-interest expense |
574.4 |
500.4 |
||||||
|
Income before income taxes |
231.3 |
246.4 |
||||||
|
Income tax expense |
42.1 |
47.3 |
||||||
|
Net income |
189.2 |
199.1 |
||||||
|
Net income attributable to noncontrolling interest |
7.1 |
- |
||||||
|
Net income attributable to Western Alliance |
182.1 |
199.1 |
||||||
|
Dividends on preferred stock |
3.2 |
3.2 |
||||||
|
Net income available to common stockholders |
$ |
178.9 |
$ |
195.9 |
||||
|
Earnings per common share: |
||||||||
|
Diluted shares |
108.7 |
109.6 |
||||||
|
Diluted earnings per share |
$ |
1.65 |
$ |
1.79 |
||||
|
Western Alliance Bancorporation and Subsidiaries |
||||||||||||||||||
|
Five Quarter Condensed Consolidated Income Statements |
||||||||||||||||||
|
Unaudited |
||||||||||||||||||
|
Three Months Ended |
||||||||||||||||||
|
Mar 31, 2026 |
Dec 31, 2025 |
Sep 30, 2025 |
Jun 30, 2025 |
Mar 31, 2025 |
||||||||||||||
|
(in millions, except per share data) |
||||||||||||||||||
|
Interest income: |
||||||||||||||||||
|
Loans |
$ |
915.7 |
$ |
936.2 |
$ |
948.3 |
$ |
914.3 |
$ |
881.0 |
||||||||
|
Investment securities |
219.9 |
221.6 |
231.7 |
201.5 |
168.0 |
|||||||||||||
|
Other |
52.6 |
59.6 |
45.5 |
38.6 |
46.6 |
|||||||||||||
|
Total interest income |
1,188.2 |
1,217.4 |
1,225.5 |
1,154.4 |
1,095.6 |
|||||||||||||
|
Interest expense: |
||||||||||||||||||
|
Deposits |
360.7 |
383.5 |
398.2 |
377.8 |
378.3 |
|||||||||||||
|
Qualifying debt |
13.1 |
9.0 |
6.3 |
8.2 |
9.3 |
|||||||||||||
|
Borrowings |
48.1 |
58.7 |
70.6 |
70.8 |
57.4 |
|||||||||||||
|
Total interest expense |
421.9 |
451.2 |
475.1 |
456.8 |
445.0 |
|||||||||||||
|
Net interest income |
766.3 |
766.2 |
750.4 |
697.6 |
650.6 |
|||||||||||||
|
Provision for credit losses |
213.2 |
73.0 |
80.0 |
39.9 |
31.2 |
|||||||||||||
|
Net interest income after provision for credit losses |
553.1 |
693.2 |
670.4 |
657.7 |
619.4 |
|||||||||||||
|
Non-interest income: |
||||||||||||||||||
|
Service charges and fees |
88.5 |
73.6 |
40.5 |
39.7 |
40.5 |
|||||||||||||
|
Net gain on mortgage loan origination and sale activities |
72.7 |
91.1 |
75.5 |
39.4 |
49.5 |
|||||||||||||
|
Net loan servicing (loss) revenue |
(1.3 |
) |
(1.4 |
) |
19.1 |
38.3 |
21.8 |
|||||||||||
|
Income from bank owned life insurance |
10.7 |
11.8 |
11.8 |
11.0 |
11.4 |
|||||||||||||
|
Gain on sales of investment securities |
50.5 |
7.4 |
8.5 |
11.4 |
2.1 |
|||||||||||||
|
Fair value gain adjustments, net |
3.1 |
3.5 |
8.3 |
0.1 |
1.0 |
|||||||||||||
|
Income (loss) from equity investments |
13.3 |
12.2 |
7.8 |
2.9 |
(4.8 |
) |
||||||||||||
|
Other |
15.1 |
16.5 |
16.3 |
5.5 |
5.9 |
|||||||||||||
|
Total non-interest income |
252.6 |
214.7 |
187.8 |
148.3 |
127.4 |
|||||||||||||
|
Non-interest expenses: |
||||||||||||||||||
|
Salaries and employee benefits |
205.5 |
201.7 |
193.5 |
179.9 |
182.4 |
|||||||||||||
|
Deposit costs |
163.3 |
171.2 |
175.1 |
147.4 |
136.8 |
|||||||||||||
|
Data processing |
53.1 |
48.9 |
48.1 |
45.0 |
45.2 |
|||||||||||||
|
Legal, professional, and directors' fees |
30.6 |
33.6 |
28.1 |
25.3 |
28.9 |
|||||||||||||
|
Insurance |
24.7 |
17.7 |
24.5 |
37.4 |
37.9 |
|||||||||||||
|
Occupancy |
19.2 |
19.7 |
16.8 |
16.9 |
17.2 |
|||||||||||||
|
Loan servicing expenses |
16.7 |
17.7 |
15.0 |
20.1 |
16.4 |
|||||||||||||
|
Business development and marketing |
9.5 |
11.1 |
5.6 |
6.1 |
5.9 |
|||||||||||||
|
Loan acquisition and origination expenses |
7.9 |
7.9 |
7.3 |
5.8 |
5.2 |
|||||||||||||
|
Other |
43.9 |
22.7 |
30.4 |
30.8 |
24.5 |
|||||||||||||
|
Total non-interest expense |
574.4 |
552.2 |
544.4 |
514.7 |
500.4 |
|||||||||||||
|
Income before income taxes |
231.3 |
355.7 |
313.8 |
291.3 |
246.4 |
|||||||||||||
|
Income tax expense |
42.1 |
62.5 |
53.3 |
53.5 |
47.3 |
|||||||||||||
|
Net income |
189.2 |
293.2 |
260.5 |
237.8 |
199.1 |
|||||||||||||
|
Net income attributable to noncontrolling interest |
7.1 |
7.1 |
7.1 |
7.4 |
- |
|||||||||||||
|
Net income attributable to Western Alliance |
182.1 |
286.1 |
253.4 |
230.4 |
199.1 |
|||||||||||||
|
Dividends on preferred stock |
3.2 |
3.2 |
3.2 |
3.2 |
3.2 |
|||||||||||||
|
Net income available to common stockholders |
$ |
178.9 |
$ |
282.9 |
$ |
250.2 |
$ |
227.2 |
$ |
195.9 |
||||||||
|
Earnings per common share: |
||||||||||||||||||
|
Diluted shares |
108.7 |
109.3 |
109.8 |
109.6 |
109.6 |
|||||||||||||
|
Diluted earnings per share |
$ |
1.65 |
$ |
2.59 |
$ |
2.28 |
$ |
2.07 |
$ |
1.79 |
||||||||
|
Western Alliance Bancorporation and Subsidiaries |
||||||||||||||||||||
|
Five Quarter Condensed Consolidated Balance Sheets |
||||||||||||||||||||
|
Unaudited |
||||||||||||||||||||
|
Mar 31, 2026 |
Dec 31, 2025 |
Sep 30, 2025 |
Jun 30, 2025 |
Mar 31, 2025 |
||||||||||||||||
|
(in millions) |
||||||||||||||||||||
|
Assets: |
||||||||||||||||||||
|
Cash and due from banks |
$ |
8,554 |
$ |
3,596 |
$ |
5,756 |
$ |
2,767 |
$ |
3,279 |
||||||||||
|
Investment securities |
20,392 |
20,438 |
18,841 |
18,601 |
15,868 |
|||||||||||||||
|
Loans held for sale |
3,936 |
3,498 |
3,502 |
3,022 |
3,238 |
|||||||||||||||
|
Loans held for investment: |
||||||||||||||||||||
|
Commercial and industrial |
28,223 |
27,928 |
25,734 |
24,920 |
24,117 |
|||||||||||||||
|
Commercial real estate - non-owner occupied |
10,344 |
10,340 |
10,487 |
10,255 |
10,040 |
|||||||||||||||
|
Commercial real estate - owner occupied |
1,711 |
1,683 |
1,682 |
1,749 |
1,787 |
|||||||||||||||
|
Construction and land development |
4,080 |
4,055 |
4,065 |
4,526 |
4,504 |
|||||||||||||||
|
Residential real estate |
14,765 |
14,652 |
14,651 |
14,465 |
14,275 |
|||||||||||||||
|
Consumer |
19 |
19 |
27 |
24 |
38 |
|||||||||||||||
|
Loans HFI, net of deferred fees |
59,142 |
58,677 |
56,646 |
55,939 |
54,761 |
|||||||||||||||
|
Allowance for loan losses |
(461 |
) |
(461 |
) |
(440 |
) |
(395 |
) |
(389 |
) |
||||||||||
|
Loans HFI, net of deferred fees and allowance |
58,681 |
58,216 |
56,206 |
55,544 |
54,372 |
|||||||||||||||
|
Mortgage servicing rights |
1,516 |
1,494 |
1,213 |
1,044 |
1,241 |
|||||||||||||||
|
Premises and equipment, net |
480 |
442 |
416 |
365 |
361 |
|||||||||||||||
|
Operating lease right-of-use asset |
125 |
131 |
134 |
130 |
125 |
|||||||||||||||
|
Other assets acquired through foreclosure, net |
123 |
137 |
130 |
218 |
51 |
|||||||||||||||
|
Bank owned life insurance |
1,067 |
1,057 |
1,045 |
1,033 |
1,022 |
|||||||||||||||
|
Goodwill and other intangibles, net |
646 |
649 |
651 |
653 |
656 |
|||||||||||||||
|
Other assets |
3,333 |
3,116 |
3,076 |
3,348 |
2,830 |
|||||||||||||||
|
Total assets |
$ |
98,853 |
$ |
92,774 |
$ |
90,970 |
$ |
86,725 |
$ |
83,043 |
||||||||||
|
Liabilities and stockholders' equity: |
||||||||||||||||||||
|
Liabilities: |
||||||||||||||||||||
|
Deposits |
||||||||||||||||||||
|
Non-interest bearing deposits |
$ |
28,078 |
$ |
24,353 |
$ |
26,628 |
$ |
22,997 |
$ |
22,009 |
||||||||||
|
Interest bearing: |
||||||||||||||||||||
|
Demand |
19,385 |
18,416 |
16,422 |
15,674 |
15,507 |
|||||||||||||||
|
Savings and money market |
25,414 |
24,586 |
24,627 |
22,231 |
21,728 |
|||||||||||||||
|
Certificates of deposit |
9,846 |
9,804 |
9,570 |
10,205 |
10,078 |
|||||||||||||||
|
Total deposits |
82,723 |
77,159 |
77,247 |
71,107 |
69,322 |
|||||||||||||||
|
Borrowings |
5,610 |
5,240 |
3,862 |
6,052 |
4,151 |
|||||||||||||||
|
Qualifying debt |
1,072 |
1,076 |
681 |
678 |
898 |
|||||||||||||||
|
Operating lease liability |
154 |
160 |
164 |
160 |
154 |
|||||||||||||||
|
Accrued interest payable and other liabilities |
1,386 |
1,193 |
1,326 |
1,321 |
1,303 |
|||||||||||||||
|
Total liabilities |
90,945 |
84,828 |
83,280 |
79,318 |
75,828 |
|||||||||||||||
|
Equity: |
||||||||||||||||||||
|
Preferred stock |
295 |
295 |
295 |
295 |
295 |
|||||||||||||||
|
Common stock and additional paid-in capital |
2,036 |
2,095 |
2,140 |
2,136 |
2,125 |
|||||||||||||||
|
Retained earnings |
5,740 |
5,607 |
5,371 |
5,165 |
4,980 |
|||||||||||||||
|
Accumulated other comprehensive loss |
(456 |
) |
(344 |
) |
(409 |
) |
(482 |
) |
(478 |
) |
||||||||||
|
Total Western Alliance stockholders' equity |
7,615 |
7,653 |
7,397 |
7,114 |
6,922 |
|||||||||||||||
|
Noncontrolling interest in subsidiary |
293 |
293 |
293 |
293 |
293 |
|||||||||||||||
|
Total equity |
7,908 |
7,946 |
7,690 |
7,407 |
7,215 |
|||||||||||||||
|
Total liabilities and equity |
$ |
98,853 |
$ |
92,774 |
$ |
90,970 |
$ |
86,725 |
$ |
83,043 |
||||||||||
|
Western Alliance Bancorporation and Subsidiaries |
||||||||||||||||||||
|
Changes in the Allowance For Credit Losses on Loans |
||||||||||||||||||||
|
Unaudited |
||||||||||||||||||||
|
Three Months Ended |
||||||||||||||||||||
|
Mar 31, 2026 |
Dec 31, 2025 |
Sep 30, 2025 |
Jun 30, 2025 |
Mar 31, 2025 |
||||||||||||||||
|
(dollars in millions) |
||||||||||||||||||||
|
Allowance for loan losses |
||||||||||||||||||||
|
Balance, beginning of period |
$ |
460.6 |
$ |
440.4 |
$ |
394.7 |
$ |
388.6 |
$ |
373.8 |
||||||||||
|
Provision for credit losses (1) |
209.0 |
64.8 |
76.8 |
35.7 |
40.6 |
|||||||||||||||
|
Recoveries of loans previously charged-off: |
||||||||||||||||||||
|
Commercial and industrial |
0.6 |
1.7 |
0.7 |
0.6 |
1.0 |
|||||||||||||||
|
Commercial real estate - non-owner occupied |
- |
- |
- |
5.1 |
0.6 |
|||||||||||||||
|
Commercial real estate - owner occupied |
- |
0.4 |
- |
- |
0.1 |
|||||||||||||||
|
Construction and land development |
- |
1.5 |
- |
- |
- |
|||||||||||||||
|
Residential real estate |
- |
- |
- |
- |
- |
|||||||||||||||
|
Consumer |
- |
0.1 |
- |
- |
- |
|||||||||||||||
|
Total recoveries |
0.6 |
3.7 |
0.7 |
5.7 |
1.7 |
|||||||||||||||
|
Loans charged-off: |
||||||||||||||||||||
|
Commercial and industrial |
181.4 |
28.9 |
12.4 |
17.0 |
13.0 |
|||||||||||||||
|
Commercial real estate - non-owner occupied |
27.7 |
10.7 |
12.9 |
17.4 |
14.5 |
|||||||||||||||
|
Commercial real estate - owner occupied |
- |
- |
- |
0.2 |
- |
|||||||||||||||
|
Construction and land development |
- |
8.6 |
6.3 |
0.6 |
- |
|||||||||||||||
|
Residential real estate |
- |
- |
- |
0.1 |
- |
|||||||||||||||
|
Consumer |
- |
0.1 |
0.2 |
- |
- |
|||||||||||||||
|
Total loans charged-off |
209.1 |
48.3 |
31.8 |
35.3 |
27.5 |
|||||||||||||||
|
Net loan charge-offs |
208.5 |
44.6 |
31.1 |
29.6 |
25.8 |
|||||||||||||||
|
Balance, end of period |
$ |
461.1 |
$ |
460.6 |
$ |
440.4 |
$ |
394.7 |
$ |
388.6 |
||||||||||
|
Allowance for unfunded loan commitments |
||||||||||||||||||||
|
Balance, beginning of period |
$ |
49.6 |
$ |
42.3 |
$ |
39.2 |
$ |
35.1 |
$ |
39.5 |
||||||||||
|
Provision for (recovery of) credit losses (1) |
3.7 |
7.3 |
3.1 |
4.1 |
(4.4 |
) |
||||||||||||||
|
Balance, end of period (2) |
$ |
53.3 |
$ |
49.6 |
$ |
42.3 |
$ |
39.2 |
$ |
35.1 |
||||||||||
|
Components of the allowance for credit losses on loans |
||||||||||||||||||||
|
Allowance for loan losses |
$ |
461.1 |
$ |
460.6 |
$ |
440.4 |
$ |
394.7 |
$ |
388.6 |
||||||||||
|
Allowance for unfunded loan commitments |
53.3 |
49.6 |
42.3 |
39.2 |
35.1 |
|||||||||||||||
|
Total allowance for credit losses on loans |
$ |
514.4 |
$ |
510.2 |
$ |
482.7 |
$ |
433.9 |
$ |
423.7 |
||||||||||
|
Net charge-offs to average loans - annualized |
1.45 |
% |
0.31 |
% |
0.22 |
% |
0.22 |
% |
0.20 |
% |
||||||||||
|
Allowance ratios |
||||||||||||||||||||
|
Allowance for loan losses to funded HFI loans (3) |
0.78 |
% |
0.78 |
% |
0.78 |
% |
0.71 |
% |
0.71 |
% |
||||||||||
|
Allowance for credit losses to funded HFI loans (3) |
0.87 |
0.87 |
0.85 |
0.78 |
0.77 |
|||||||||||||||
|
Allowance for loan losses to nonaccrual HFI loans |
94 |
92 |
84 |
92 |
86 |
|||||||||||||||
|
Allowance for credit losses to nonaccrual HFI loans |
105 |
102 |
92 |
102 |
94 |
|||||||||||||||
|
(1) |
The above tables reflect only the provision for credit losses on funded and unfunded loans. For the three months ended March 31, 2026, provision for credit losses for HTM investment securities totaled $0.5 million. The allowance for credit losses on HTM investment securities totaled $13.4 million as of March 31, 2026 |
|||||||
|
(2) |
The allowance for unfunded loan commitments is included as part of accrued interest payable and other liabilities on the balance sheet. |
|||||||
|
(3) |
Ratio includes an allowance for credit losses of $11.2 million as of March 31, 2026 related to a pool of loans covered under three separate credit linked note transactions. |
|||||||
|
Western Alliance Bancorporation and Subsidiaries |
||||||||||||||||||||
|
Asset Quality Metrics |
||||||||||||||||||||
|
Unaudited |
||||||||||||||||||||
|
Three Months Ended |
||||||||||||||||||||
|
Mar 31, 2026 |
Dec 31, 2025 |
Sep 30, 2025 |
Jun 30, 2025 |
Mar 31, 2025 |
||||||||||||||||
|
(dollars in millions) |
||||||||||||||||||||
|
Nonaccrual loans and repossessed assets |
||||||||||||||||||||
|
Nonaccrual loans (1) |
$ |
492 |
$ |
500 |
$ |
522 |
$ |
427 |
$ |
451 |
||||||||||
|
Nonaccrual loans to funded HFI loans |
0.83 |
% |
0.85 |
% |
0.92 |
% |
0.76 |
% |
0.82 |
% |
||||||||||
|
Repossessed assets |
$ |
123 |
$ |
137 |
$ |
130 |
$ |
218 |
$ |
51 |
||||||||||
|
Nonaccrual loans and repossessed assets to total assets |
0.62 |
% |
0.69 |
% |
0.72 |
% |
0.74 |
% |
0.60 |
% |
||||||||||
|
Loans Past Due |
||||||||||||||||||||
|
Loans past due 90 days, still accruing (2) |
$ |
56 |
$ |
66 |
$ |
49 |
$ |
51 |
$ |
44 |
||||||||||
|
Loans past due 90 days, still accruing to funded HFI loans (2) |
0.09 |
% |
0.11 |
% |
0.09 |
% |
0.09 |
% |
0.08 |
% |
||||||||||
|
Loans past due 30 to 89 days, still accruing (3) |
$ |
157 |
$ |
108 |
$ |
196 |
$ |
175 |
$ |
182 |
||||||||||
|
Loans past due 30 to 89 days, still accruing to funded HFI loans (2) |
0.27 |
% |
0.18 |
% |
0.35 |
% |
0.31 |
% |
0.33 |
% |
||||||||||
|
Other credit quality metrics |
||||||||||||||||||||
|
Special mention loans |
$ |
403 |
$ |
325 |
$ |
292 |
$ |
444 |
$ |
460 |
||||||||||
|
Special mention loans to funded HFI loans |
0.68 |
% |
0.55 |
% |
0.52 |
% |
0.79 |
% |
0.84 |
% |
||||||||||
|
Classified loans on accrual |
$ |
455 |
$ |
450 |
$ |
476 |
$ |
615 |
$ |
693 |
||||||||||
|
Classified loans on accrual to funded HFI loans |
0.77 |
% |
0.77 |
% |
0.84 |
% |
1.10 |
% |
1.27 |
% |
||||||||||
|
Classified assets (1) |
$ |
1,070 |
$ |
1,088 |
$ |
1,129 |
$ |
1,261 |
$ |
1,195 |
||||||||||
|
Classified assets to total assets |
1.08 |
% |
1.17 |
% |
1.24 |
% |
1.45 |
% |
1.44 |
% |
||||||||||
|
(1) |
Includes senior liens acquired to protect the Company's position with respect to its Cantor Group V loan of $13 million as of March 31, 2026. |
|||||||
|
(2) |
Excludes government guaranteed residential mortgage loans of $288 million, $290 million, $282 million, $326 million, and $275 million as of each respective date in the table above. |
|||||||
|
(3) |
Excludes government guaranteed residential mortgage loans of $94 million, $145 million, $149 million, $168 million, and $161 million as of each respective date in the table above. |
|||||||
|
Western Alliance Bancorporation and Subsidiaries |
||||||||||||||||||||
|
Analysis of Average Balances, Yields and Rates |
||||||||||||||||||||
|
Unaudited |
||||||||||||||||||||
|
Three Months Ended |
||||||||||||||||||||
|
March 31, 2026 |
December 31, 2025 |
|||||||||||||||||||
|
Average Balance |
Interest |
Average Yield / Cost |
Average Balance |
Interest |
Average Yield / Cost |
|||||||||||||||
|
(dollars in millions) |
||||||||||||||||||||
|
Interest earning assets |
||||||||||||||||||||
|
Loans HFS |
$ |
5,469 |
$ |
80.2 |
5.95 |
% |
$ |
5,195 |
$ |
75.2 |
5.74 |
% |
||||||||
|
Loans HFI: |
||||||||||||||||||||
|
Commercial and industrial |
27,560 |
413.3 |
6.13 |
26,246 |
415.1 |
6.32 |
||||||||||||||
|
CRE - non-owner occupied |
10,317 |
169.9 |
6.68 |
10,454 |
182.5 |
6.93 |
||||||||||||||
|
CRE - owner occupied |
1,694 |
24.8 |
6.00 |
1,695 |
24.0 |
5.74 |
||||||||||||||
|
Construction and land development |
3,983 |
76.4 |
7.79 |
4,003 |
82.5 |
8.17 |
||||||||||||||
|
Residential real estate |
14,611 |
150.8 |
4.19 |
14,690 |
156.6 |
4.23 |
||||||||||||||
|
Consumer |
19 |
0.3 |
7.48 |
21 |
0.3 |
5.34 |
||||||||||||||
|
Total HFI loans (1), (2), (3), (4) |
58,184 |
835.5 |
5.85 |
57,109 |
861.0 |
6.01 |
||||||||||||||
|
Investment securities: |
||||||||||||||||||||
|
Taxable |
17,696 |
195.4 |
4.48 |
17,690 |
197.8 |
4.44 |
||||||||||||||
|
Tax-exempt |
2,278 |
24.5 |
5.50 |
2,212 |
23.8 |
5.39 |
||||||||||||||
|
Total investment securities (1) |
19,974 |
219.9 |
4.59 |
19,902 |
221.6 |
4.54 |
||||||||||||||
|
Cash and other |
5,327 |
52.6 |
4.01 |
5,633 |
59.6 |
4.20 |
||||||||||||||
|
Total interest earning assets |
88,954 |
1,188.2 |
5.46 |
87,839 |
1,217.4 |
5.54 |
||||||||||||||
|
Non-interest earning assets |
||||||||||||||||||||
|
Cash and due from banks |
543 |
462 |
||||||||||||||||||
|
Allowance for loan losses |
(464 |
) |
(459 |
) |
||||||||||||||||
|
Bank owned life insurance |
1,060 |
1,049 |
||||||||||||||||||
|
Other assets |
5,509 |
5,310 |
||||||||||||||||||
|
Total assets |
$ |
95,602 |
$ |
94,201 |
||||||||||||||||
|
Interest-bearing liabilities |
||||||||||||||||||||
|
Interest-bearing deposits: |
||||||||||||||||||||
|
Interest-bearing demand accounts |
$ |
18,946 |
$ |
99.5 |
2.13 |
% |
$ |
17,374 |
$ |
102.2 |
2.33 |
% |
||||||||
|
Savings and money market |
24,611 |
168.7 |
2.78 |
24,113 |
180.9 |
2.98 |
||||||||||||||
|
Certificates of deposit |
9,724 |
92.5 |
3.86 |
9,834 |
100.4 |
4.05 |
||||||||||||||
|
Total interest-bearing deposits |
53,281 |
360.7 |
2.75 |
51,321 |
383.5 |
2.96 |
||||||||||||||
|
Short-term borrowings |
2,948 |
29.5 |
4.05 |
3,243 |
33.7 |
4.13 |
||||||||||||||
|
Long-term debt |
1,353 |
18.6 |
5.59 |
1,723 |
25.0 |
5.75 |
||||||||||||||
|
Qualifying debt |
1,077 |
13.1 |
4.92 |
845 |
9.0 |
4.27 |
||||||||||||||
|
Total interest-bearing liabilities |
58,659 |
421.9 |
2.92 |
57,132 |
451.2 |
3.13 |
||||||||||||||
|
Interest cost of funding earning assets |
1.92 |
2.04 |
||||||||||||||||||
|
Non-interest-bearing liabilities |
||||||||||||||||||||
|
Non-interest-bearing deposits |
27,352 |
27,524 |
||||||||||||||||||
|
Other liabilities |
1,470 |
1,681 |
||||||||||||||||||
|
Equity |
8,121 |
7,864 |
||||||||||||||||||
|
Total liabilities and equity |
$ |
95,602 |
$ |
94,201 |
||||||||||||||||
|
Net interest income and margin (5) |
$ |
766.3 |
3.54 |
% |
$ |
766.2 |
3.51 |
% |
||||||||||||
|
(1) |
Yields on loans and securities have been adjusted to a tax equivalent basis. The tax equivalent adjustment was $10.1 million and $9.9 million for the three months ended March 31, 2026 and December 31, 2025, respectively. |
|||||||
|
(2) |
Included in the yield computation are net loan fees of $23.9 million and $25.0 million for the three months ended March 31, 2026 and December 31, 2025, respectively |
|||||||
|
(3) |
Interest income includes a reduction for earnings credits totaling $48.7 million and $56.6 million for the three months ended March 31, 2026 and December 31, 2025, respectively. |
|||||||
|
(4) |
Includes non-accrual loans. |
|||||||
|
(5) |
Net interest margin is computed by dividing net interest income by total average earning assets, annualized on an actual/actual basis. |
|||||||
|
Western Alliance Bancorporation and Subsidiaries |
||||||||||||||||||||
|
Analysis of Average Balances, Yields and Rates |
||||||||||||||||||||
|
Unaudited |
||||||||||||||||||||
|
Three Months Ended |
||||||||||||||||||||
|
March 31, 2026 |
March 31, 2025 |
|||||||||||||||||||
|
Average Balance |
Interest |
Average Yield / Cost |
Average Balance |
Interest |
Average Yield / Cost |
|||||||||||||||
|
(dollars in millions) |
||||||||||||||||||||
|
Interest earning assets |
||||||||||||||||||||
|
Loans HFS |
$ |
5,469 |
$ |
80.2 |
5.95 |
% |
$ |
4,300 |
$ |
66.6 |
6.28 |
% |
||||||||
|
Loans HFI: |
||||||||||||||||||||
|
Commercial and industrial |
27,560 |
413.3 |
6.13 |
22,831 |
365.8 |
6.56 |
||||||||||||||
|
CRE - non-owner occupied |
10,317 |
169.9 |
6.68 |
10,011 |
175.1 |
7.10 |
||||||||||||||
|
CRE - owner occupied |
1,694 |
24.8 |
6.00 |
1,880 |
28.7 |
6.30 |
||||||||||||||
|
Construction and land development |
3,983 |
76.4 |
7.79 |
4,407 |
91.8 |
8.45 |
||||||||||||||
|
Residential real estate |
14,611 |
150.8 |
4.19 |
14,346 |
152.2 |
4.30 |
||||||||||||||
|
Consumer |
19 |
0.3 |
7.48 |
46 |
0.8 |
6.69 |
||||||||||||||
|
Total loans HFI (1), (2), (3), (4) |
58,184 |
835.5 |
5.85 |
53,521 |
814.4 |
6.20 |
||||||||||||||
|
Investment securities: |
||||||||||||||||||||
|
Taxable |
17,696 |
195.4 |
4.48 |
13,020 |
143.5 |
4.47 |
||||||||||||||
|
Tax-exempt |
2,278 |
24.5 |
5.50 |
2,255 |
24.5 |
5.52 |
||||||||||||||
|
Total investment securities (1) |
19,974 |
219.9 |
4.59 |
15,275 |
168.0 |
4.63 |
||||||||||||||
|
Cash and other |
5,327 |
52.6 |
4.01 |
4,083 |
46.6 |
4.63 |
||||||||||||||
|
Total interest earning assets |
88,954 |
1,188.2 |
5.46 |
77,179 |
1,095.6 |
5.81 |
||||||||||||||
|
Non-interest earning assets |
||||||||||||||||||||
|
Cash and due from banks |
543 |
331 |
||||||||||||||||||
|
Allowance for loan losses |
(464 |
) |
(397 |
) |
||||||||||||||||
|
Bank owned life insurance |
1,060 |
1,015 |
||||||||||||||||||
|
Other assets |
5,509 |
4,720 |
||||||||||||||||||
|
Total assets |
$ |
95,602 |
$ |
82,848 |
||||||||||||||||
|
Interest bearing liabilities |
||||||||||||||||||||
|
Interest bearing deposits: |
||||||||||||||||||||
|
Interest bearing demand accounts |
$ |
18,946 |
$ |
99.5 |
2.13 |
% |
$ |
15,870 |
$ |
99.9 |
2.55 |
% |
||||||||
|
Savings and money market accounts |
24,611 |
168.7 |
2.78 |
21,206 |
164.8 |
3.15 |
||||||||||||||
|
Certificates of deposit |
9,724 |
92.5 |
3.86 |
10,018 |
113.6 |
4.60 |
||||||||||||||
|
Total interest bearing deposits |
53,281 |
360.7 |
2.75 |
47,094 |
378.3 |
3.26 |
||||||||||||||
|
Short-term borrowings |
2,948 |
29.5 |
4.05 |
1,722 |
20.8 |
4.89 |
||||||||||||||
|
Long-term debt |
1,353 |
18.6 |
5.59 |
2,652 |
36.6 |
5.60 |
||||||||||||||
|
Qualifying debt |
1,077 |
13.1 |
4.92 |
899 |
9.3 |
4.18 |
||||||||||||||
|
Total interest bearing liabilities |
58,659 |
421.9 |
2.92 |
52,367 |
445.0 |
3.45 |
||||||||||||||
|
Interest cost of funding earning assets |
1.92 |
2.34 |
||||||||||||||||||
|
Non-interest bearing liabilities |
||||||||||||||||||||
|
Non-interest bearing deposits |
27,352 |
22,097 |
||||||||||||||||||
|
Other liabilities |
1,470 |
1,485 |
||||||||||||||||||
|
Equity |
8,121 |
6,899 |
||||||||||||||||||
|
Total liabilities and equity |
$ |
95,602 |
$ |
82,848 |
||||||||||||||||
|
Net interest income and margin (5) |
$ |
766.3 |
3.54 |
% |
$ |
650.6 |
3.47 |
% |
||||||||||||
|
(1) |
Yields on loans and securities have been adjusted to a tax equivalent basis. The tax equivalent adjustment was $10.1 million and $10.2 million for the three months ended March 31, 2026 and 2025, respectively. |
|||||||
|
(2) |
Included in the yield computation are net loan fees of $23.9 million and $23.8 million for the three months ended March 31, 2026 and 2025, respectively. |
|||||||
|
(3) |
Interest income includes a reduction for earnings credits totaling of $48.7 million and $58.1 million for the three months ended March 31, 2026 and 2025, respectively. |
|||||||
|
(4) |
Includes non-accrual loans. |
|||||||
|
(5) |
Net interest margin is computed by dividing net interest income by total average earning assets, annualized on an actual/actual basis. |
|||||||
|
Western Alliance Bancorporation and Subsidiaries |
|
Income Statement Classification of Earnings Credit and Referral Costs |
|
Unaudited |
The below table presents the income statement classification for total earnings credit and referral costs incurred on deposits:
|
Three Months Ended |
||||||||||||||
|
Mar 31, 2026 |
Dec 31, 2025 |
Sep 30, 2025 |
Jun 30, 2025 |
Mar 31, 2025 |
||||||||||
|
Income statement line item |
(in millions) |
|||||||||||||
|
Interest income (1) |
$ |
48.7 |
$ |
56.6 |
$ |
64.9 |
$ |
61.3 |
$ |
58.1 |
||||
|
Service charges and fees (1) |
8.3 |
7.2 |
5.4 |
4.4 |
4.2 |
|||||||||
|
Deposit costs (2) |
157.3 |
165.0 |
169.1 |
142.8 |
129.9 |
|||||||||
|
Total earnings credit and referral costs |
$ |
214.3 |
$ |
228.8 |
$ |
239.4 |
$ |
208.5 |
$ |
192.2 |
||||
|
(1) |
Earnings credits recorded as a reduction to Interest income and Service charges and fees. |
|||||||
|
(2) |
Deposit costs also included $6.0 million, $6.2 million, $6.0 million, $4.6 million, and $6.9 million in other deposit related costs for each respective period in the table above, primarily associated with reciprocal deposits. |
|||||||
|
Western Alliance Bancorporation and Subsidiaries |
|
Reconciliation of Non-GAAP Financial Measures |
|
Unaudited |
|
Pre-Provision Net Revenue by Quarter: |
||||||||||||||
|
Three Months Ended |
||||||||||||||
|
Mar 31, 2026 |
Dec 31, 2025 |
Sep 30, 2025 |
Jun 30, 2025 |
Mar 31, 2025 |
||||||||||
|
(in millions) |
||||||||||||||
|
Net interest income |
$ |
766.3 |
$ |
766.2 |
$ |
750.4 |
$ |
697.6 |
$ |
650.6 |
||||
|
Total non-interest income |
252.6 |
214.7 |
187.8 |
148.3 |
127.4 |
|||||||||
|
Net revenue |
$ |
1,018.9 |
$ |
980.9 |
$ |
938.2 |
$ |
845.9 |
$ |
778.0 |
||||
|
Total non-interest expense |
574.4 |
552.2 |
544.4 |
514.7 |
500.4 |
|||||||||
|
Pre-provision net revenue (1) |
$ |
444.5 |
$ |
428.7 |
$ |
393.8 |
$ |
331.2 |
$ |
277.6 |
||||
|
Less: |
||||||||||||||
|
Provision for credit losses |
213.2 |
73.0 |
80.0 |
39.9 |
31.2 |
|||||||||
|
Income tax expense |
42.1 |
62.5 |
53.3 |
53.5 |
47.3 |
|||||||||
|
Net income |
$ |
189.2 |
$ |
293.2 |
$ |
260.5 |
$ |
237.8 |
$ |
199.1 |
||||
|
Efficiency Ratio (Tax Equivalent Basis) by Quarter: |
|||||||||||||||||||
|
Three Months Ended |
|||||||||||||||||||
|
Mar 31, 2026 |
Dec 31, 2025 |
Sep 30, 2025 |
Jun 30, 2025 |
Mar 31, 2025 |
|||||||||||||||
|
(dollars in millions) |
|||||||||||||||||||
|
Total non-interest expense |
$ |
574.4 |
$ |
552.2 |
$ |
544.4 |
$ |
514.7 |
$ |
500.4 |
|||||||||
|
Less: Deposit costs |
163.3 |
171.2 |
175.1 |
147.4 |
136.8 |
||||||||||||||
|
Total non-interest 27expense, excluding deposit costs |
411.1 |
381.0 |
369.3 |
367.3 |
363.6 |
||||||||||||||
|
Divided by: |
|||||||||||||||||||
|
Total net interest income |
766.3 |
766.2 |
750.4 |
697.6 |
650.6 |
||||||||||||||
|
Plus: |
|||||||||||||||||||
|
Tax equivalent interest adjustment |
10.1 |
9.9 |
9.7 |
10.2 |
10.2 |
||||||||||||||
|
Total non-interest income |
252.6 |
214.7 |
187.8 |
148.3 |
127.4 |
||||||||||||||
|
Less: Deposit costs |
163.3 |
171.2 |
175.1 |
147.4 |
136.8 |
||||||||||||||
|
$ |
865.7 |
$ |
819.6 |
$ |
772.8 |
$ |
708.7 |
$ |
651.4 |
||||||||||
|
Efficiency ratio (2) |
55.8 |
% |
55.7 |
% |
57.4 |
% |
60.1 |
% |
63.5 |
% |
|||||||||
|
Efficiency ratio, adjusted for deposit costs (2) |
47.5 |
% |
46.5 |
% |
47.8 |
% |
51.8 |
% |
55.8 |
% |
|||||||||
|
Western Alliance Bancorporation and Subsidiaries |
|
Reconciliation of Non-GAAP Financial Measures |
|
Unaudited |
|
Tangible Common Equity: |
|||||||||||||||||||
|
Mar 31, 2026 |
Dec 31, 2025 |
Sep 30, 2025 |
Jun 30, 2025 |
Mar 31, 2025 |
|||||||||||||||
|
(in millions, except per share data) |
|||||||||||||||||||
|
Total equity |
$ |
7,908 |
$ |
7,946 |
$ |
7,690 |
$ |
7,407 |
$ |
7,215 |
|||||||||
|
Less: |
|||||||||||||||||||
|
Goodwill and intangible assets, net |
646 |
649 |
651 |
653 |
656 |
||||||||||||||
|
Preferred stock |
295 |
295 |
295 |
295 |
295 |
||||||||||||||
|
Noncontrolling interest in subsidiary |
293 |
293 |
293 |
293 |
293 |
||||||||||||||
|
Total tangible common equity |
6,674 |
6,709 |
6,451 |
6,166 |
5,971 |
||||||||||||||
|
Plus: deferred tax - attributed to intangible assets |
3 |
2 |
2 |
2 |
2 |
||||||||||||||
|
Total tangible common equity, net of tax |
$ |
6,677 |
$ |
6,711 |
$ |
6,453 |
$ |
6,168 |
$ |
5,973 |
|||||||||
|
Total assets |
$ |
98,853 |
$ |
92,774 |
$ |
90,970 |
$ |
86,725 |
$ |
83,043 |
|||||||||
|
Less: goodwill and intangible assets, net |
646 |
649 |
651 |
653 |
656 |
||||||||||||||
|
Tangible assets |
98,207 |
92,125 |
90,319 |
86,072 |
82,387 |
||||||||||||||
|
Plus: deferred tax - attributed to intangible assets |
3 |
2 |
2 |
2 |
2 |
||||||||||||||
|
Total tangible assets, net of tax |
$ |
98,210 |
$ |
92,127 |
$ |
90,321 |
$ |
86,074 |
$ |
82,389 |
|||||||||
|
Tangible common equity ratio (3) |
6.8 |
% |
7.3 |
% |
7.1 |
% |
7.2 |
% |
7.2 |
% |
|||||||||
|
Common shares outstanding |
109.2 |
109.5 |
110.2 |
110.4 |
110.4 |
||||||||||||||
|
Tangible book value per share, net of tax (3) |
$ |
61.14 |
$ |
61.29 |
$ |
58.56 |
$ |
55.87 |
$ |
54.10 |
|||||||||
|
Return on Average Tangible Common Equity: |
|||||||||||||||||||
|
Three Months Ended |
|||||||||||||||||||
|
Mar 31, 2026 |
Dec 31, 2025 |
Sep 30, 2025 |
Jun 30, 2025 |
Mar 31, 2025 |
|||||||||||||||
|
(in millions) |
|||||||||||||||||||
|
Net income available to common shareholders |
$ |
178.9 |
$ |
282.9 |
$ |
250.2 |
$ |
227.2 |
$ |
195.9 |
|||||||||
|
Divided by: |
|||||||||||||||||||
|
Average stockholders' equity |
8,121 |
7,864 |
7,607 |
7,355 |
6,899 |
||||||||||||||
|
Less: |
|||||||||||||||||||
|
Average goodwill and intangible assets |
648 |
650 |
652 |
655 |
658 |
||||||||||||||
|
Average preferred stock |
295 |
295 |
295 |
295 |
295 |
||||||||||||||
|
Average noncontrolling interest |
293 |
293 |
293 |
293 |
16 |
||||||||||||||
|
Average tangible common equity |
$ |
6,885 |
$ |
6,625 |
$ |
6,366 |
$ |
6,112 |
$ |
5,930 |
|||||||||
|
Return on average tangible common equity (1) |
10.5 |
% |
16.9 |
% |
15.6 |
% |
14.9 |
% |
13.4 |
% |
|||||||||
|
Western Alliance Bancorporation and Subsidiaries |
|
Reconciliation of Non-GAAP Financial Measures |
|
Unaudited |
The adjusted revenue, earnings and return metrics presented below for the three months ended March 31, 2026 exclude the impact to provision for credit losses of charging off the remaining balance of the LAM loan as well as gains from sales of investment securities that were executed as part of the Company's mitigation strategy, as applicable. In addition, net charge-offs for the three months ended March 31, 2026 have been adjusted to exclude the impact of fraud related charge-offs associated with the LAM and Cantor loans.
|
Net Revenue and Pre-Provision Net Revenue, As Adjusted |
|||
|
(in millions) |
|||
|
Net revenue |
$ |
1,018.9 |
|
|
Adjusted for: |
|||
|
Gain on sales of investment securities |
(50.5 |
) |
|
|
Net revenue, as adjusted |
$ |
968.4 |
|
|
Total non-interest expense |
574.4 |
||
|
Pre-provision net revenue, as adjusted (1) |
$ |
394.0 |
|
|
Less: |
|||
|
Provision for credit losses |
213.2 |
||
|
Income tax expense |
42.1 |
||
|
Gain on sales of investment securities |
(50.5 |
) |
|
|
Net income |
$ |
189.2 |
|
|
Earnings per Share, As Adjusted: |
|||
|
(in millions, except per share data) |
|||
|
Net income |
$ |
189.2 |
|
|
Adjusted for: |
|||
|
Gain on sales of investment securities |
(50.5 |
) |
|
|
Provision for credit losses on LAM |
126.4 |
||
|
Tax effect of adjustments |
(13.8 |
) |
|
|
Net income, as adjusted |
251.3 |
||
|
Net income attributable to noncontrolling interest |
7.1 |
||
|
Dividends on preferred stock |
3.2 |
||
|
Net income available to common stockholders, as adjusted |
$ |
241.0 |
|
|
Diluted shares |
108.7 |
||
|
Diluted earnings per share, as adjusted (1) |
$ |
2.22 |
|
|
Return on Average Assets, As Adjusted: |
|||
|
(dollars in millions) |
|||
|
Net income, as adjusted |
$ |
251.3 |
|
|
Divided by: |
|||
|
Average Assets |
$ |
95,602 |
|
|
Return on average assets, as adjusted (1) |
1.07 |
% |
|
|
Return on Average Tangible Common Equity, As Adjusted: |
|||
|
(dollars in millions) |
|||
|
Net income available to common stockholders, as adjusted |
$ |
241.0 |
|
|
Divided by: Average equity |
8,121 |
||
|
Less: |
|||
|
Average goodwill and intangible assets |
648 |
||
|
Average preferred stock |
295 |
||
|
Average noncontrolling interest |
293 |
||
|
Average tangible common equity |
$ |
6,885 |
|
|
Return on average tangible common equity (1) |
10.5 |
% |
|
|
Return on average tangible common equity, as adjusted (1) |
14.2 |
% |
|
|
Western Alliance Bancorporation and Subsidiaries |
|
Reconciliation of Non-GAAP Financial Measures |
|
Unaudited |
|
Net Charge-Offs and Net Charge-Offs to Average Loans, As Adjusted: |
|||
|
(dollars in millions) |
|||
|
Net charge-offs |
$ |
208.5 |
|
|
Adjusted for fraud related charge-offs: |
|||
|
LAM |
(126.4 |
) |
|
|
Cantor |
(26.1 |
) |
|
|
Net charge-offs, as adjusted |
$ |
56.0 |
|
|
Divided by: Average HFI loans |
58,184 |
||
|
Net charge-offs to average loans - annualized, as adjusted |
0.39 |
% |
|
|
Non-GAAP Financial Measures Footnotes |
||||||||
|
(1) |
We believe this non-GAAP measurement is a key indicator of the earnings power of the Company. |
|||||||
|
(2) |
We believe this non-GAAP ratio provides a useful metric to measure the efficiency of the Company. |
|||||||
|
(3) |
We believe this non-GAAP metric provides an important metric with which to analyze and evaluate the financial condition and capital strength of the Company. |
|||||||
Investors: Miles Pondelik, 602-346-7462 Email: [email protected]
Media: Stephanie Whitlow, 480-998-6547 Email: [email protected]
Western Alliance Bancorporation published this content on April 21, 2026, and is solely responsible for the information contained herein. Distributed via Public Technologies (PUBT), unedited and unaltered, on April 21, 2026 at 20:26 UTC. If you believe the information included in the content is inaccurate or outdated and requires editing or removal, please contact us at [email protected]