Company: WAL-PA
Filing Date: 2025-11-03
Form Type: 10-Q
Source: 0001628280-25-047883
Chunk: 245

Company: WESTERN ALLIANCE BANCORPORATION
Filing Date: 2025-11-03
Form: 10-Q
Item: Part I, Item 8
Chunk 245
---
 and $1.9 million for the three and nine months ended September 30, 2024, respectively.

38

Common Stock RepurchaseDuring the three and nine months ended September 30, 2025, the Company's BOD approved a common stock repurchase program pursuant to which the Company is authorized to repurchase up to $300 million of its shares common stock. During the three and nine months ended September 30, 2025, the Company repurchased 119,588 shares of its common stock. The shares were repurchased at a weighted average price of $88.50, for a total payment of $10.6 million. There were no share repurchases during the comparable periods in 2024. As of September 30, 2025, the aggregate remaining approved amount under the stock repurchase program is approximately $289 million.Preferred StockThe Company issued and has outstanding 12,000,000 depositary shares, each representing a 1/400th ownership interest in a share of the Company’s 4.250% Series A Fixed-Rate Reset Non-Cumulative Perpetual Preferred Shares, par value $0.0001 per share, with a liquidation preference of $25 per depositary share (equivalent to $10,000 per share of Series A preferred stock). The dividend rate resets every five years beginning on September 30, 2026 to the five-year treasury rate as of the most recent reset dividend determination date plus 3.452%. The Series A preferred stock is redeemable at the Company's option on or after September 30, 2026, on any dividend payment date at a redemption price of $10,000 per share and only participates in the undistributed earnings of the Company if a dividend is declared. During the three and nine months ended September 30, 2025 and 2024, the Company declared and paid a quarterly cash dividend of $0.27 per depositary share, for a total dividend payment to preferred stockholders of $3.2 million and $9.6 million, respectively.Cash Dividend on Common SharesDuring the three and nine months ended September 30, 2025, the Company declared and paid a quarterly cash dividend of $0.38 per share, for a total dividend payment to stockholders of $42.0 million and $126.0 million, respectively. During the three and nine months ended September 30, 2024, the Company declared and paid a quarterly cash dividend of