Company: WAL-PA
Filing Date: 2025-05-01
Form Type: 10-Q
Source: 0001212545-25-000141
Chunk: 118

Company: WESTERN ALLIANCE BANCORPORATION
Filing Date: 2025-05-01
Form: 10-Q
Item: Part I, Item 1
Chunk 118
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2024 was driven by increases of $3.2 billion and $520 million in non-interest bearing deposits and savings and money market accounts, respectively, partially offset by decreases of $371 million and $331 million in interest bearing demand deposits and certificates of deposit, respectively.

RESULTS OF OPERATIONS

The following table sets forth a summary financial overview:

Three Months Ended March 31,Increase (Decrease)20252024(in millions, except per share amounts)Consolidated Income Statement Data:Interest income$1,095.6 $1,055.0 $40.6 Interest expense445.0 456.1 (11.1)Net interest income650.6 598.9 51.7 Provision for credit losses31.2 15.2 16.0 Net interest income after provision for credit losses619.4 583.7 35.7 Non-interest income127.4 129.9 (2.5)Non-interest expense500.4 481.8 18.6 Income before provision for income taxes246.4 231.8 14.6 Income tax expense47.3 54.4 (7.1)Net income199.1 177.4 21.7 Dividends on preferred stock3.2 3.2 — Net income available to common stockholders$195.9 $174.2 $21.7 Earnings per share:Basic$1.80 $1.61 $0.19 Diluted1.79 1.60 0.19 

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Non-GAAP Financial Measures

The following discussion and analysis contains financial information determined by methods other than those prescribed by GAAP. The Company's management uses these non-GAAP financial measures in their analysis of the Company's performance. Management believes presentation of these non-GAAP financial measures provides useful supplemental information that is essential to a complete understanding of the operating results of the Company. Since the presentation of these non-GAAP performance measures and their impact differ between companies, these non-GAAP disclosures should not be viewed as a substitute for operating results determined in accordance with GAAP, nor are they necessarily comparable to non-GAAP performance measures that may be presented by other companies. 

Pre-Provision Net Revenue

Banking regulations define PPNR as the sum of net interest income and non-interest income less expenses before adjusting for loss provisions. Management believes this is