Company: WAL-PA
Filing Date: 2025-11-03
Form Type: 10-Q
Source: 0001628280-25-047883
Chunk: 119

Company: WESTERN ALLIANCE BANCORPORATION
Filing Date: 2025-11-03
Form: 10-Q
Item: Part I, Item 1
Chunk 119
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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 ValueSeptember 30, 2025(in millions)Assets:Available-for-sale debt securitiesResidential MBS issued by GSEs and GNMA$— $7,065 $— $7,065 U.S. Treasury securities5,388 — — 5,388 CLO— 1,888 — 1,888 Private label residential MBS— 1,044 — 1,044 Tax-exempt— 805 — 805 Commercial MBS issued by GSEs and GNMA— 622 — 622 Corporate debt securities— 350 — 350 Other28 40 — 68 Total AFS debt securities$5,416 $11,814 $— $17,230 Equity securitiesPreferred stock$64 $— $— $64 CRA investments27 — — 27 Total equity securities$91 $— $— $91 Loans HFS (2)$— $3,295 $168 $3,463 Mortgage servicing rights— — 1,213 1,213 Derivative assets (1)— 86 48 134 Liabilities:Junior subordinated debt (3)$— $— $71 $71 Derivative liabilities (1)— 181 1 182 (1)See "Note 12. Derivatives and Hedging Activities." In addition, the carrying value of loans is increased by $1 million as of September 30, 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 $378 million and $(43) 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