Company: WAL-PA
Filing Date: 2025-05-01
Form Type: 10-Q
Source: 0001212545-25-000141
Chunk: 93

Company: WESTERN ALLIANCE BANCORPORATION
Filing Date: 2025-05-01
Form: 10-Q
Item: Part I, Item 1
Chunk 93
---
 a net asset position. Management reviews the Company's collateral positions on a daily basis and exchanges collateral with counterparties in accordance with standard ISDA documentation and other related agreements. The Company generally posts or holds collateral in the form of cash deposits or highly rated securities issued by the U.S. Treasury or government-sponsored enterprises (FNMA and FHLMC), or guaranteed by GNMA. At March 31, 2025, December 31, 2024, and March 31, 2024 collateral pledged by the Company to counterparties for its derivatives totaled $194 million, $117 million, and $146 million, respectively. 

13. EARNINGS PER SHARE Diluted EPS is calculated using the weighted average outstanding common shares during the period, including common stock equivalents. Basic EPS is calculated using the weighted average outstanding common shares during the period.The following table presents the calculation of basic and diluted EPS:  Three Months Ended March 31, 20252024 (in millions, except per share amounts)Weighted average shares - basic108.8 108.5 Dilutive effect of stock awards0.8 0.5 Weighted average shares - diluted109.6 109.0 Net income available to common stockholders$195.9 $174.2 Earnings per Common Share:Basic$1.80 $1.61 Diluted1.79 1.60 

44

14. INCOME TAXES The Company's effective tax rate was 19.2% and 23.5% for the three months ended March 31, 2025 and 2024, respectively. The decrease in the effective tax rate for the three months ended March 31, 2025 compared to the same period in 2024 was primarily due to a decrease in nondeductible insurance premiums and an increase in investment tax credit benefits.As of March 31, 2025, the net DTA balance totaled $272 million, a decrease of $9 million from $281 million at December 31, 2024. This overall decrease in the net DTA was primarily the result of increases in the MSR DTL and the fair market value of AFS securities, which were partially offset by an increase in credit carryovers. Although realization is not assured, the Company believes that the realization of the recognized net DTA of $272 million at March 31, 2025 is more-likely-than-not based on expectations