Company: WAL-PA
Filing Date: 2025-05-01
Form Type: 10-Q
Source: 0001212545-25-000141
Chunk: 57

Company: WESTERN ALLIANCE BANCORPORATION
Filing Date: 2025-05-01
Form: 10-Q
Item: Part I, Item 1
Chunk 57
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 year or less$27 $27 After one year through five years12 12 After five years through ten years165 153 After ten years1,158 1,027 Mortgage-backed securities174 140 Total HTM securities$1,536 $1,359 Available-for-saleDue in one year or less$3,706 $3,705 After one year through five years493 489 After five years through ten years627 614 After ten years1,462 1,364 Mortgage-backed securities8,579 8,059 Total AFS securities$14,867 $14,231 

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The following table presents gross gains and losses on sales of investment securities: Three Months Ended March 31,20252024(in millions)Available-for-sale securitiesGross gains$2.1 $0.9 Gross losses— (1.8)Net gain (loss) on AFS securities$2.1 $(0.9)During the three months ended March 31, 2025, the Company sold AFS securities with a carrying value of $410 million and recognized a net gain of $2.1 million as U.S. Treasury securities and MBS were sold to secure gains. During the three months ended March 31, 2024, the Company sold securities with a carrying value of $1.4 billion and recognized a net loss of $0.9 million as CLOs were sold as part of the Company's efforts to shift the investment portfolio mix toward high quality liquid assets.

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3. LOANS HELD FOR SALEThe Company purchases and originates residential mortgage loans that are held for sale or securitization primarily through its AmeriHome mortgage banking business channel.The following is a summary of loans HFS by type:March 31, 2025December 31, 2024(in millions)Government-insured or guaranteed:EBO (1)$60 $— Non-EBO1,152 764 Total government-insured or guaranteed1,212 764 Agency-conforming1,987 1,502 Non-agency39 20 Total loans HFS$3,238 $2,286 (1)    EBO loans are delinquent FHA, VA, or USDA loans purchased from GNMA pools under the terms of the GNMA MBS program that can be repooled when