Company: WAL-PA
Filing Date: 2025-08-01
Form Type: 10-Q
Source: 0001212545-25-000214
Chunk: 207

Company: WESTERN ALLIANCE BANCORPORATION
Filing Date: 2025-08-01
Form: 10-Q
Item: Part I, Item 8
Chunk 207
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 $2.7 $13.9 $3.6 Gross losses— (0.4)— (2.2)Net gain on AFS securities$11.8 $2.3 $13.9 $1.4 Equity securitiesGross gains $0.2 $— $0.2 $— Gross losses(0.6)— (0.6)— Net loss on equity securities$(0.4)$— $(0.4)$— During the three and six months ended June 30, 2025, the Company sold AFS securities with a carrying value of $2.4 billion and $2.8 billion, respectively, and recognized a net gain of $11.8 million and $13.9 million, respectively. U.S. Treasury securities and MBS were sold to secure gains, including hedged U.S. Treasury securities sold as part of an interest rate swap termination that resulted in a $7.7 million gain. See "Note 12. Derivatives and Hedging Activities" for further discussion of the interest rate swap. During the three and six months ended June 30, 2024, the Company sold securities with a carrying value of $329 million and $1.7 billion, respectively, and recognized a net gain of $2.3 million and $1.4 million, respectively. CLOs were sold as part of the Company's efforts to shift the investment portfolio mix toward high quality liquid assets.

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3. LOANS HELD FOR SALEThe Company purchases and originates residential mortgage loans that are held for sale or securitization primarily through its AmeriHome mortgage banking business channel.The following is a summary of loans HFS by type:June 30, 2025December 31, 2024(in millions)Government-insured or guaranteed:EBO (1)$74 $— Non-EBO1,296 764 Total government-insured or guaranteed1,370 764 Agency-conforming1,627 1,502 Non-agency25 20 Total loans HFS$3,022 $2,286 (1)    EBO loans are delinquent FHA, VA, or USDA loans purchased from GNMA pools under the terms of the GNMA MBS program that can be repooled when loans are brought current either through