Company: WAL-PA
Filing Date: 2025-08-01
Form Type: 10-Q
Source: 0001212545-25-000214
Chunk: 65

Company: WESTERN ALLIANCE BANCORPORATION
Filing Date: 2025-08-01
Form: 10-Q
Item: Part I, Item 1
Chunk 65
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4 $1.4 Provision for (recovery of) credit losses0.1 (0.5)(0.1)(0.6)Charge-offs— — — — Recoveries— — — — Balance, end of period$0.3 $0.8 $0.3 $0.8 The credit loss model under ASC 326-20, applicable to HTM debt securities, requires recognition of lifetime expected credit losses through an allowance account at the time the security is purchased. The following table presents a rollforward of the ACL on the Company's HTM tax-exempt debt securities:Three Months Ended June 30,Six Months Ended June 30,2025202420252024(in millions)Balance, beginning of period$11.6 $8.2 $16.4 $7.8 Provision for (recovery of) credit losses— 0.5 (4.8)0.9 Charge-offs— — — — Recoveries— — — — Balance, end of period$11.6 $8.7 $11.6 $8.7 No allowance has been recognized on the Company's HTM private label residential MBS as losses are not expected due to the Company holding a senior position in these securities. 

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Accrued interest receivable on HTM debt securities totaled $5 million at both June 30, 2025 and December 31, 2024 and is excluded from the estimate of expected credit losses.The following tables summarize the carrying amount of the Company’s investment ratings position, which are updated quarterly and used to monitor the credit quality of the Company's securities: June 30, 2025AAASplit-rated AAA/AA+AA+ to AA-A+ to A-BBB+ to BBB-BB+ and belowUnratedTotals(in millions)Held-to-maturityTax-exempt$— $— $— $— $— $— $1,369 $1,369 Private label residential MBS— — — — — — 171 171 Total HTM securities (1)$— $— $— $— $— $— $1,540 $1,540 Available-for-sale debt securitiesResidential MBS issued by G