Company: WAL-PA
Filing Date: 2025-11-03
Form Type: 10-Q
Source: 0001628280-25-047883
Chunk: 65

Company: WESTERN ALLIANCE BANCORPORATION
Filing Date: 2025-11-03
Form: 10-Q
Item: Part I, Item 1
Chunk 65
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 Value(in millions)Available-for-sale debt securitiesResidential MBS issued by GSEs and GNMA$2 $614 $323 $1,462 $325 $2,076 Private label residential MBS— — 160 885 160 885 Tax-exempt— — 90 742 90 742 CLO1 379 — — 1 379 Corporate debt securities— — 12 301 12 301 Commercial MBS issued by GSEs and GNMA1 106 7 71 8 177 Other1 12 7 44 8 56 Total AFS securities$5 $1,111 $599 $3,505 $604 $4,616 December 31, 2024Less Than Twelve MonthsMore Than Twelve MonthsTotalGross Unrealized LossesFair ValueGross Unrealized LossesFair ValueGross Unrealized LossesFair Value(in millions)Available-for-sale debt securitiesResidential MBS issued by GSEs and GNMA$18 $1,793 $392 $1,482 $410 $3,275 U.S. Treasury securities3 2,185 — — 3 2,185 Private label residential MBS— — 201 939 201 939 Tax-exempt1 32 75 813 76 845 Corporate debt securities (1)— — 21 362 21 362 Commercial MBS issued by GSEs and GNMA10 220 1 16 11 236 Other2 32 5 25 7 57 Total AFS securities$34 $4,262 $695 $3,637 $729 $7,899 (1)Includes securities with an ACL that have a fair value of $8 million and unrealized losses of $1 million.The total number of AFS debt securities in an unrealized loss position at September 30, 2025 was 637, compared to 796 at December 31, 2024. On a quarterly basis, the Company performs an impairment analysis on its AFS debt securities in an unrealized loss position at the end of the period to determine whether credit losses should be recognized on these securities.Qualitative considerations made by the Company in its impairment analysis are further discussed below. Government Issued SecuritiesU.S