Company: WAL-PA
Filing Date: 2025-11-03
Form Type: 10-Q
Source: 0001628280-25-047883
Chunk: 20

Company: WESTERN ALLIANCE BANCORPORATION
Filing Date: 2025-11-03
Form: 10-Q
Item: Part I, Item 2
Chunk 20
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3 Income from equity investments7.8 5.8 2.0 5.9 27.1 (21.2)Other income21.4 5.8 15.6 38.9 13.7 25.2 Total non-interest income$187.8 $126.2 $61.6 $463.5 $371.3 $92.2 

Total non-interest income for the three months ended September 30, 2025 increased by $61.6 million compared to the same period in 2024, with changes primarily attributable to mortgage banking revenue and other non-interest income. Net gain on mortgage loan origination and sale activities rose by $29.2 million, reflecting increased loan production revenue and improved gain on sale margins. In addition, net loan servicing revenue grew by $6.8 million as MSR valuations, net of hedging, strengthened. Other non-interest income increased $15.6 million largely from an increase in rental income associated with commercial OREO properties.

Total non-interest income for the nine months ended September 30, 2025 increased by $92.2 million compared to the same period in 2024. This growth was primarily attributable to higher service charges and loan fees, net gain on mortgage loan origination and sale activities, other non-interest income, and income from bank owned life insurance. The increases in net gain on mortgage loan origination and sale activities, as well as other non-interest income are discussed in the preceding paragraph. The increase in service charges and loan fees of $45.2 million was driven by service charges on insured deposit products. Income from bank owned life insurance rose by $18.5 million, reflecting income from a new policy entered into during the third 

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quarter of 2024. Partially offsetting these increases were declines in income from equity investments and net loan servicing revenue. The $21.2 million decrease in income from equity investments was primarily due to the timing of income recognition on an equity investment, while the $17.6 million reduction in net loan servicing revenue resulted from fair value losses on MSRs and lower servicing income. 

Non-interest Expense

The following table presents a summary of non-interest expense:

Three Months Ended September 30,Increase (Decrease)Nine Months Ended September 30,Increase (Decrease)2025202420252024(in millions)Salaries and employee benefits$193.5 $157.8 $