Company: WAL-PA
Filing Date: 2025-02-25
Form Type: 10-K
Source: 0001212545-25-000090
Chunk: 92

Company: WESTERN ALLIANCE BANCORPORATION
Filing Date: 2025-02-25
Form: 10-K
Item: Item 7
Chunk 92
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2023, respectively.

(3)Includes non-accrual loans.

(4)Net interest margin is computed by dividing net interest income by total average earning assets.

41

Year Ended December 31,2024 versus 2023Increase (Decrease) Due to Changes in (1)VolumeRateTotal(in millions)Interest income:Loans HFS$11.3 $(8.3)$3.0 Loans HFI:Commercial and industrial211.6 (58.9)152.7 CRE - non-owner occupied(4.3)14.2 9.9 CRE - owner occupied2.0 6.9 8.9 Construction and land development23.1 (2.7)20.4 Residential real estate(25.6)51.5 25.9 Consumer(1.3)(0.1)(1.4)Total loans HFI205.5 10.9 216.4 Securities:Securities - taxable241.4 (6.7)234.7 Securities - tax-exempt5.7 3.1 8.8 Total securities247.1 (3.6)243.5 Other44.4 (1.5)42.9 Total interest income508.3 (2.5)505.8 Interest expense:Interest-bearing transaction accounts$111.1 $17.6 $128.7 Savings and money market accounts89.4 92.7 182.1 Time certificates of deposit108.1 38.7 146.8 Short-term borrowings(217.0)(1.3)(218.3)Long-term debt(2.6)(11.0)(13.6)Qualifying debt0.2 (0.1)0.1 Total interest expense89.2 136.6 225.8 Net change$419.1 $(139.1)$280.0 

(1)Changes attributable to both volume and rate are designated as volume changes.

Comparison of interest income, interest expense and net interest margin

The Company's primary source of revenue is interest income. For the year ended December 31, 2024, interest income was $4.5 billion, an increase of $505.8 million, or 12.5%, compared to $4.0 billion for the year