Company: WAL-PA
Filing Date: 2025-11-03
Form Type: 10-Q
Source: 0001628280-25-047883
Chunk: 64

Company: WESTERN ALLIANCE BANCORPORATION
Filing Date: 2025-11-03
Form: 10-Q
Item: Part I, Item 1
Chunk 64
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17,703 $131 $(604)$17,230 December 31, 2024Amortized CostGross Unrealized GainsGross Unrealized (Losses)Fair Value(in millions)Held-to-maturityTax-exempt$1,350 $1 $(180)$1,171 Private label residential MBS176 — (38)138 Total HTM securities$1,526 $1 $(218)$1,309 Available-for-sale debt securitiesResidential MBS issued by GSEs and GNMA$6,225 $16 $(410)$5,831 U.S. Treasury securities4,385 1 (3)4,383 Private label residential MBS1,148 — (201)947 Tax-exempt921 — (76)845 CLO570 — — 570 Commercial MBS issued by GSEs and GNMA447 1 (11)437 Corporate debt securities407 — (21)386 Other75 1 (7)69 Total AFS debt securities$14,178 $19 $(729)$13,468 In addition, the Company held equity securities, which primarily consisted of preferred stock and CRA investments, with a fair value of $91 million and $117 million at September 30, 2025 and December 31, 2024, respectively. Unrealized gains of $0.8 million and $3.2 million on equity securities for the three months ended September 30, 2025 and 2024, respectively, and unrealized gains of $0.7 million and $5.9 million for the nine months ended September 30, 2025 and 2024, respectively, were recognized in earnings as a component of Fair value gain adjustments, net. Securities with carrying amounts of approximately $4.6 billion and $4.0 billion at September 30, 2025 and December 31, 2024, respectively, were pledged for various purposes as required or permitted by law.

14

The following tables summarize the Company's AFS debt securities in an unrealized loss position, aggregated by major security type and length of time in a continuous unrealized loss position: September 30, 2025Less Than Twelve MonthsMore Than Twelve MonthsTotalGross Unrealized LossesFair ValueGross Unrealized LossesFair ValueGross Unrealized LossesFair