Company: WAL-PA
Filing Date: 2025-05-01
Form Type: 10-Q
Source: 0001212545-25-000141
Chunk: 4

Company: WESTERN ALLIANCE BANCORPORATION
Filing Date: 2025-05-01
Form: 10-Q
Item: Part I, Item 2
Chunk 4
---
.08% for the first quarter 2024

•Net interest margin of 3.47%, decreased from 3.60% in the first quarter 2024

•Tangible common equity ratio of 7.2%, consistent with December 31, 20241 

•Book value per common share of $60.03, an increase of 3.1% from $58.24 at December 31, 2024 

•Tangible book value per share, net of tax, of $54.10, an increase of $1.83, or 3.5%, from $52.27 at December 31, 20241

•Efficiency ratio of 63.5% in the first quarter 2025, compared to 65.2% in the first quarter 20241

The impact to the Company from these items, and others of both a positive and negative nature, are discussed in more detail below as they pertain to the Company’s overall comparative performance for the three months ended March 31, 2025.

1 See Non-GAAP Financial Measures section beginning on page 62. 

59

As a bank holding company, management focuses on key ratios in evaluating the Company's financial condition and results of operations.

Results of Operations and Financial Condition

A summary of the Company's results of operations, financial condition, and selected metrics are included in the following tables: 

Three Months Ended March 31,20252024(in millions, except per share amounts)Net income$199.1 $177.4 Net income available to common stockholders195.9 174.2 Earnings per share - basic1.80 1.61 Earnings per share - diluted1.79 1.60 Return on average assets0.97 %0.98 %Return on average equity11.7 11.5 Return on average tangible common equity (1)13.4 13.4 Net interest margin3.47 3.60 

(1) See Non-GAAP Financial Measures section beginning on page 62. 

March 31, 2025December 31, 2024(in millions)Total assets$83,043 $80,934 Loans HFS3,238 2,286 Loans HFI, net of deferred fees and costs54,761 53,676 Investment securities, net of allowance for credit losses15,868 15