Company: WAL-PA
Filing Date: 2025-11-03
Form Type: 10-Q
Source: 0001628280-25-047883
Chunk: 150

Company: WESTERN ALLIANCE BANCORPORATION
Filing Date: 2025-11-03
Form: 10-Q
Item: Part I, Item 1
Chunk 150
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(168.2)(58.7)Short-term borrowings(19.2)(8.4)(27.6)(55.9)(27.8)(83.7)Long-term debt32.5 (5.8)26.7 91.9 (17.9)74.0 Qualifying debt(2.0)(1.2)(3.2)(2.9)(1.9)(4.8)Total interest expense51.6 (79.6)(28.0)142.6 (215.8)(73.2)Net change$53.7 $(0.2)$53.5 $195.7 $(49.5)$146.2 

(1)    Changes attributable to both volume and rate are designated as volume changes.

Comparison of interest income, interest expense and net interest margin

The Company's primary source of revenue is interest income. For the three months ended September 30, 2025, interest income totaled $1.2 billion, an increase of $25.5 million, or 2.1%, compared to the three months ended September 30, 2024. This increase was primarily the result of increases in interest income from investment securities and loans HFS of $34.6 million and $10.2 million, respectively, resulting from increases in the average balances of these assets of $3.4 billion and $721 million, respectively. These increases were partially offset by a decrease in interest income from loans HFI of $7.2 million as lower loan yields outweighed the increase in the average balance of $3.4 billion. 

For the nine months ended September 30, 2025, interest income was $3.5 billion, an increase of $73.0 million, or 2.1%, compared to $3.4 billion for the nine months ended September 30, 2024. This increase was primarily the result of an increase of $69.6 million in interest income from investment securities primarily due to an increase in the average investment balance of $2.3 billion and interest income from loans HFS of $68.6 million driven by a higher average balance of $1.5 billion. These increases were partially offset by a $38.9 million decrease in interest income from loans HFI driven by lower yields net of a $3.8 billion increase in the average balance.

For the three months ended September 30,