Company: WAL-PA
Filing Date: 2025-05-01
Form Type: 10-Q
Source: 0001212545-25-000141
Chunk: 6

Company: WESTERN ALLIANCE BANCORPORATION
Filing Date: 2025-05-01
Form: 10-Q
Item: Part I, Item 2
Chunk 6
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 investment securities of $773 million, which was partially offset by a decrease in cash of $817 million.

Loans HFI increased $1.1 billion, or 2.0%, to $54.8 billion as of March 31, 2025, compared to $53.7 billion as of December 31, 2024. By loan type, commercial and industrial and commercial real estate loans increased $989 million and $134 million, respectively, from December 31, 2024. In addition, loans HFS increased $952 million from $2.3 billion as of December 31, 2024 primarily due to an increase in agency-conforming and non-EBO loans.

Total deposits increased $3.0 billion, or 4.5%, to $69.3 billion as of March 31, 2025 from $66.3 billion as of December 31, 2024. By type, the increase in deposits from December 31, 2024 was driven by increases of $3.2 billion and $520 million in non-interest bearing deposits and savings and money market accounts, respectively, partially offset by decreases of $371 million and $331 million in interest bearing demand deposits and certificates of deposit, respectively.

RESULTS OF OPERATIONS

The following table sets forth a summary financial overview:

Three Months Ended March 31,Increase (Decrease)20252024(in millions, except per share amounts)Consolidated Income Statement Data:Interest income$1,095.6 $1,055.0 $40.6 Interest expense445.0 456.1 (11.1)Net interest income650.6 598.9 51.7 Provision for credit losses31.2 15.2 16.0 Net interest income after provision for credit losses619.4 583.7 35.7 Non-interest income127.4 129.9 (2.5)Non-interest expense500.4 481.8 18.6 Income before provision for income taxes246.4 231.8 14.6 Income tax expense47.3 54.4 (7.1)Net income199.1 177.4 21.7 Dividends on preferred stock3.2 3.2 — Net income available to common stockholders$195.9 $174.2 $21.7 Earnings per share:Basic