Company: WAL-PA
Filing Date: 2025-05-01
Form Type: 10-Q
Source: 0001212545-25-000141
Chunk: 52

Company: WESTERN ALLIANCE BANCORPORATION
Filing Date: 2025-05-01
Form: 10-Q
Item: Part I, Item 1
Chunk 52
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— — 1 372 Corporate debt securities (1)— — 17 348 17 348 Commercial MBS issued by GSEs and GNMA— — 9 67 9 67 Other2 32 4 16 6 48 Total AFS securities$10 $4,156 $661 $3,612 $671 $7,768 (1)Includes securities with an ACL that have a fair value of $8 million and unrealized losses of $1 million.December 31, 2024Less Than Twelve MonthsMore Than Twelve MonthsTotalGross Unrealized LossesFair ValueGross Unrealized LossesFair ValueGross Unrealized LossesFair Value(in millions)Available-for-sale debt securitiesResidential MBS issued by GSEs and GNMA$18 $1,793 $392 $1,482 $410 $3,275 U.S. Treasury securities3 2,185 — — 3 2,185 Private label residential MBS— — 201 939 201 939 Tax-exempt1 32 75 813 76 845 Corporate debt securities (1)— — 21 362 21 362 Commercial MBS issued by GSEs and GNMA10 220 1 16 11 236 Other2 32 5 25 7 57 Total AFS securities$34 $4,262 $695 $3,637 $729 $7,899 (1)Includes securities with an ACL that have a fair value of $8 million and unrealized losses of $1 million.The total number of AFS debt securities in an unrealized loss position at March 31, 2025 was 724, compared to 796 at December 31, 2024. On a quarterly basis, the Company performs an impairment analysis on its AFS debt securities in an unrealized loss position at the end of the period to determine whether credit losses should be recognized on these securities.Qualitative considerations made by the Company in its impairment analysis are further discussed below. Government Issued SecuritiesU.S. Treasury securities and commercial and residential MBS are issued by either government agencies or GSEs. These securities are either explicitly or implicitly guaranteed by the U.S. government, and are highly rated by major rating agencies. Further, principal and interest payments on these securities