Company: WAL-PA
Filing Date: 2025-05-01
Form Type: 10-Q
Source: 0001212545-25-000141
Chunk: 3

Company: WESTERN ALLIANCE BANCORPORATION
Filing Date: 2025-05-01
Form: 10-Q
Item: Part I, Item 2
Chunk 3
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 totaling $14.5 million, which primarily related to office properties. While the Company believes that its increased monitoring efforts to provide earlier identification of potential stressed loans and proactive engagement with borrowers has helped the Company assess its credit related exposure to this portfolio segment and establish adequate reserve levels, CRE market conditions may worsen, which could result in further deterioration of asset quality in this portfolio. 

Financial Overview and Highlights

WAL is a bank holding company headquartered in Phoenix, Arizona, incorporated under the laws of the state of Delaware. WAL provides a full spectrum of customized loan, deposit and treasury management capabilities, including funds transfer and other digital payment offerings, through its wholly-owned banking subsidiary, WAB, together with its banking divisions: ABA, BON, FIB, Bridge, and TPB. 

The Company also provides an array of specialized financial services across the country, including mortgage banking services through AmeriHome, treasury management services to the homeowner's association sector, and digital payment services for the class action legal industry.

Financial Results Highlights for the First Quarter of 2025 

•Net income available to common stockholders of $195.9 million, compared to $174.2 million for the first quarter 2024 

•Diluted earnings per share of $1.79, compared to $1.60 per share for the first quarter 2024

•Net revenue of $778.0 million, compared to $728.8 million for the first quarter 2024, with non-interest expense of $500.4 million, compared to $481.8 million for the first quarter 2024

•PPNR of $277.6 million, up 12.4% from $247.0 million in the first quarter 20241

•Total loans HFI of $54.8 billion, up $1.1 billion, or 2.0%, from December 31, 2024 

•Total deposits of $69.3 billion, up $3.0 billion, or 4.5%, from December 31, 2024 

•Total equity of $7.2 billion, an increase of $508 million from December 31, 2024

•Nonperforming assets (nonaccrual loans and repossessed assets) decreased to 0.60% of total assets, compared to 0.65% at December 31, 2024 

•Annualized net loan charge-offs to average loans outstanding of 0.20%, compared to 0