Company: WAL-PA
Filing Date: 2025-08-01
Form Type: 10-Q
Source: 0001212545-25-000214
Chunk: 164

Company: WESTERN ALLIANCE BANCORPORATION
Filing Date: 2025-08-01
Form: 10-Q
Item: Part I, Item 1
Chunk 164
---
 the Company advances nonperforming loans through its standard credit resolution process, with the goal of stabilizing leasing and occupancy, improving rental rates, and funding improvements from the net operating income generated by these properties prior to sale.

The Company held 11 properties at June 30, 2025 compared to five at December 31, 2024. The majority of the repossessed asset balance at June 30, 2025 and December 31, 2024 related to office properties. Refer to “Recent Market and Banking Industry Developments” in Part I, Item 2 of this Form 10-Q for additional discussion of other assets acquired through foreclosure.

Goodwill and Other Intangible Assets

Goodwill represents the excess consideration paid for net assets acquired in a business combination over their fair value. Goodwill and other intangible assets acquired in a business combination that are determined to have an indefinite useful life are not subject to amortization, but are subsequently evaluated for impairment at least annually. The Company has goodwill and intangible assets totaling $653 million and $659 million at June 30, 2025 and December 31, 2024, respectively. 

The Company performs its annual goodwill and intangible assets impairment tests as of October 1 each year, or more often if events or circumstances indicate the carrying value may not be recoverable. During the three and six months ended June 30, 2025 and 2024, there were no events or circumstances that indicated an interim impairment test of goodwill or other intangible assets was necessary.

Deferred Tax Assets

As of June 30, 2025, the net DTA balance totaled $313 million, an increase of $32 million from $281 million at December 31, 2024. The overall increase in the net DTA was primarily the result of an increase in credit carryovers, partially offset by increases in the MSR DTL and the fair market value of AFS securities.

The Company had no deferred tax valuation allowance as of June 30, 2025 and December 31, 2024. 

Bank Owned Life Insurance

The carrying value of BOLI totaled $1.0 billion as of June 30, 2025, an increase of $22 million, from December 31, 2024. BOLI is used as a tax efficient method to help offset employee benefit costs.

Deposits

Deposits are the primary source for funding the Company's asset growth. Total deposits increased to $71.1 billion