Company: WAL-PA
Filing Date: 2025-08-01
Form Type: 10-Q
Source: 0001212545-25-000214
Chunk: 63

Company: WESTERN ALLIANCE BANCORPORATION
Filing Date: 2025-08-01
Form: 10-Q
Item: Part I, Item 1
Chunk 63
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 with an ACL that have a fair value of $8 million and unrealized losses of $1 million.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 June 30, 2025 was 680, 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. Treasury securities and commercial and residential MBS are issued by either government agencies or GSEs. These securities are either explicitly or implicitly guaranteed by the U.S. government, and are highly rated by major rating agencies. Further, principal and interest payments on these securities continue to be made on a timely basis.

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Non-Government Issued SecuritiesQualitative factors used in the Company's credit loss assessment of its securities that are not issued and guaranteed by the U.S. government include consideration of any adverse conditions related to a specific security, industry, or geographic region of its securities, any credit ratings below investment grade, the payment structure of the security and the likelihood of the issuer to be able to make payments that increase in the future