Company: WAL-PA
Filing Date: 2025-05-01
Form Type: 10-Q
Source: 0001212545-25-000141
Chunk: 222

Company: WESTERN ALLIANCE BANCORPORATION
Filing Date: 2025-05-01
Form: 10-Q
Item: Part I, Item 8
Chunk 222
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 $6,555 U.S. Treasury securities4,016 — — 4,016 Private label residential MBS— 958 — 958 CLO— 876 — 876 Tax-exempt— 825 — 825 Commercial MBS issued by GSEs and GNMA— 546 — 546 Corporate debt securities— 385 — 385 Other30 40 — 70 Total AFS debt securities$4,046 $10,185 $— $14,231 Equity securitiesPreferred stock$86 $— $— $86 CRA investments27 — — 27 Total equity securities$113 $— $— $113 Loans HFS (2)$— $3,175 $3 $3,178 Mortgage servicing rights— — 1,241 1,241 Derivative assets (1)— 84 45 129 Liabilities:Junior subordinated debt (3)$— $— $63 $63 Derivative liabilities (1)— 87 1 88 (1)See "Note 12. Derivatives and Hedging Activities." In addition, the carrying value of loans is decreased by $32 million as of March 31, 2025 for the effective portion of the hedge, which relates to the fair value of the hedges put in place to mitigate against fluctuations in interest rates. Derivative assets and liabilities exclude margin of $156 million and $(31) million, respectively.(2)Includes only the portion of loans HFS that is recorded at fair value at each reporting period pursuant to the election of FVO treatment.(3)Includes only the portion of junior subordinated debt that is recorded at fair value at each reporting period pursuant to the election of FVO treatment.

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 Fair Value Measurements at the End of the Reporting Period Using:Quoted Prices in Active Markets for Identical Assets (Level 1)Significant Other Observable Inputs (Level 2)Significant Unobservable Inputs (Level 3)Fair ValueDecember 31, 2024(in millions)Assets:Available-for-sale debt securitiesResidential MBS issued by GSEs and GNMA$— $5,831 $— $5,831 U.S. Treasury securities4,383 — — 4,383 Private label residential