Company: WAL-PA
Filing Date: 2025-05-01
Form Type: 10-Q
Source: 0001212545-25-000141
Chunk: 124

Company: WESTERN ALLIANCE BANCORPORATION
Filing Date: 2025-05-01
Form: 10-Q
Item: Part I, Item 1
Chunk 124
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0.3)— (0.3)Total loans HFI61.1 (79.5)(18.4)Investment securities:Taxable25.4 (3.0)22.4 Tax-exempt0.5 1.1 1.6 Total investment securities25.9 (1.9)24.0 Cash and other12.9 (5.4)7.5 Total interest income129.1 (88.5)40.6 Interest expense:Interest bearing demand accounts(3.0)(19.1)(22.1)Savings and money market accounts46.3 (11.4)34.9 Certificates of deposit(1.3)(13.8)(15.1)Total deposits42.0 (44.3)(2.3)Short-term borrowings(24.1)(8.9)(33.0)Long-term debt30.5 (6.1)24.4 Qualifying debt— (0.2)(0.2)Total interest expense48.4 (59.5)(11.1)Net change$80.7 $(29.0)$51.7 

(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 March 31, 2025, interest income totaled $1.1 billion, an increase of $40.6 million, or 3.8%, compared to $1.1 billion for the three months ended March 31, 2024. This increase was primarily the result of increases in interest income from loans HFS and investment securities of $27.5 million and $24.0 million, respectively, resulting from increases in the average balances of these assets of $1.9 billion and $2.4 billion, respectively. These increases were offset in part by a decrease in interest income from loans HFI of $18.4 million as lower loan yields outweighed the increase in the average balance of $3.8 billion. 

For the three months ended March 31, 2025, interest expense totaled $445.0 million, a decrease of $11.1 million, or 2.4%, compared to $456.1 million for the three months ended March 31, 202