Company: WAL-PA
Filing Date: 2025-05-01
Form Type: 10-Q
Source: 0001212545-25-000141
Chunk: 212

Company: WESTERN ALLIANCE BANCORPORATION
Filing Date: 2025-05-01
Form: 10-Q
Item: Part I, Item 8
Chunk 212
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 the three months ended March 31, 2025 and $3.0 million related to its discontinued last-of-layer hedges during the three months ended March 31, 2024.

41

Fair Values, Volume of Activity, and Gain/Loss Information Related to Derivative InstrumentsThe following table summarizes the fair value of the Company's derivative instruments on a gross basis as of March 31, 2025, December 31, 2024, and March 31, 2024. The change in the notional amounts of these derivatives from March 31, 2024 to March 31, 2025 indicates the volume of the Company's derivative transaction activity during these periods. The derivative asset and liability balances are presented on a gross basis, prior to the application of bilateral collateral and master netting agreements. Total derivative assets and liabilities are adjusted to take into account the impact of legally enforceable master netting agreements that allow the Company to settle all derivative contracts with the same counterparty on a net basis and to offset the net derivative position with the related cash collateral. Where master netting agreements are not in effect or are not enforceable under bankruptcy laws, the Company does not adjust those derivative amounts with counterparties.  March 31, 2025December 31, 2024March 31, 2024Fair ValueFair ValueFair ValueNotionalAmountDerivative AssetsDerivative LiabilitiesNotionalAmountDerivative AssetsDerivative LiabilitiesNotionalAmountDerivative AssetsDerivative Liabilities(in millions)Derivatives designated as hedging instruments:Fair value hedgesInterest rate contracts$4,335 $38 $6 $4,344 $97 $— $3,884 $67 $— Total$4,335 $38 $6 $4,344 $97 $— $3,884 $67 $— Derivatives not designated as hedging instruments:Foreign currency contracts$99 $1 $— $69 $1 $1 $165 $1 $1 Forward contracts28,268 21 55 21,731 81 48 13,970 17 30 Futures contracts (1)14,715 — — 13,200 — — 10,120 — — Interest rate lock commitments2,689 14 1 2,396 5 7 1