Company: WAL-PA
Filing Date: 2025-05-01
Form Type: 10-Q
Source: 0001212545-25-000141
Chunk: 58

Company: WESTERN ALLIANCE BANCORPORATION
Filing Date: 2025-05-01
Form: 10-Q
Item: Part I, Item 1
Chunk 58
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 loans are brought current either through the borrower's reperformance or through completion of a loan modification.The following is a summary of the net gain on loan purchase, origination, and sale activities on residential mortgage loans to be sold or securitized:Three Months Ended March 31,20252024(in millions)Mortgage servicing rights capitalized upon sale of loans$260.4 $188.7 Net proceeds from sale of loans (1)(214.9)(160.7)Provision for and change in estimate of liability for losses under representations and warranties, net0.5 3.2 Change in fair value27.2 (6.7)Change in fair value of derivatives:Unrealized (loss) gain on derivatives(60.0)15.3 Realized gain (loss) on derivatives23.0 (8.1)Total change in fair value of derivatives(37.0)7.2 Net gain on residential mortgage loans HFS$36.2 $31.7 Loan acquisition and origination fees13.3 13.6 Net gain on loan origination and sale activities$49.5 $45.3 (1)     Represents the difference between cash proceeds received upon settlement and loan basis.

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4. LOANS, LEASES AND ALLOWANCE FOR CREDIT LOSSES The composition of the Company's HFI loan portfolio is as follows:March 31, 2025December 31, 2024(in millions)Warehouse lending$8,186 $8,207 Municipal & nonprofit1,621 1,620 Tech & innovation3,427 3,383 Equity fund resources865 884 Other commercial and industrial10,159 9,175 CRE - owner occupied1,637 1,675 Hotel franchise finance3,894 3,815 Other CRE - non-owner occupied6,391 6,342 Residential13,007 12,961 Residential - EBO918 972 Construction and land development4,491 4,468 Other165 174 Total loans HFI54,761 53,676 Allowance for credit losses(389)(374)Total loans HFI, net of allowance$54,372 $53,302 Loans classified as HFI are stated at the amount of unpaid principal, adjusted for net deferred fees and costs, premiums and discounts on acquired