Company: WAL-PA
Filing Date: 2025-08-01
Form Type: 10-Q
Source: 0001212545-25-000214
Chunk: 123

Company: WESTERN ALLIANCE BANCORPORATION
Filing Date: 2025-08-01
Form: 10-Q
Item: Part I, Item 1
Chunk 123
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 3 measurement. The Company had $218 million and $52 million of such assets at June 30, 2025 and December 31, 2024, respectively. Fair Value of Financial InstrumentsThe estimated fair value of the Company’s financial instruments is as follows:June 30, 2025Carrying AmountFair ValueLevel 1Level 2Level 3Total(in millions)Financial assets:Investment securities:HTM$1,540 $— $1,368 $— $1,368 AFS16,898 5,532 11,366 — 16,898 Trading53 — 53 — 53 Equity122 122 — — 122 Derivative assets (1)176 — 119 57 176 Loans HFS3,022 — 2,913 109 3,022 Loans HFI, net55,544 — — 55,443 55,443 Mortgage servicing rights1,044 — — 1,044 1,044 Accrued interest receivable426 — 426 — 426 Financial liabilities:Deposits$71,107 $— $71,143 $— $71,143 Other borrowings6,052 — 6,032 — 6,032 Qualifying debt678 — 556 85 641 Derivative liabilities (1)203 — 203 — 203 Accrued interest payable132 — 132 — 132 (1)    Derivative assets and liabilities exclude margin of $347 million and $(41) million, respectively.

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December 31, 2024Carrying AmountFair ValueLevel 1Level 2Level 3Total(in millions)Financial assets:Investment securities:HTM$1,526 $— $1,309 $— $1,309 AFS13,468 4,385 9,083 — 13,468 Equity securities117 117 — — 117 Derivative assets (1)233 — 198 35 233 Loans HFS2,286 — 2,259 27 2,286 Loans HFI, net53,302 — — 53,070 53,070 Mort