Company: WAL-PA
Filing Date: 2025-02-25
Form Type: 10-K
Source: 0001212545-25-000090
Chunk: 88

Company: WESTERN ALLIANCE BANCORPORATION
Filing Date: 2025-02-25
Form: 10-K
Item: Item 7
Chunk 88
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 165.8 $2,508.4 $2,218.4 $2,408.8 Efficiency ratio - tax equivalent basis 63.2 %61.1 %44.9 %Efficiency ratio - tax equivalent basis, adjusted for deposit costs53.1 53.5 41.1 

38

Tangible Common Equity and Return on Average Tangible Common Equity

The following tables present financial measures related to tangible common equity. Tangible common equity represents total stockholders' equity reduced by goodwill and intangible assets and preferred stock. Management believes tangible common equity financial measures are useful in evaluating the Company's capital strength, financial condition, and ability to manage potential losses. 

December 31,20242023(dollars and shares in millions)Total stockholders' equity$6,707 $6,078 Less:Goodwill and intangible assets659 669 Preferred stock295 295 Total tangible common stockholders' equity5,753 5,114 Plus: deferred tax - attributed to intangible assets2 2 Total tangible common equity, net of tax$5,755 $5,116 Total assets$80,934 $70,862 Less: goodwill and intangible assets, net659 669 Tangible assets80,275 70,193 Plus: deferred tax - attributed to intangible assets2 2 Total tangible assets, net of tax$80,277 $70,195 Tangible common equity ratio7.2 %7.3 %Common shares outstanding110.1 109.5 Book value per common share$58.24 $52.81 Tangible book value per common share, net of tax52.27 46.72 

Year Ended December 31,202420232022(dollars in millions)Net income available to common stockholders$774.9 $709.6 $1,044.5 Divided by:Average stockholders' equity6,480 5,719 5,099 Less:Average goodwill and intangible assets664 675 688 Average preferred stock295 295 295 Average tangible common equity$5,521 $4,749 $4,116 Return on average tangible common equity14.0 %14.9 %25.4 %

39

Regulatory Capital

The following table presents certain financial measures related to