Company: WAL-PA
Filing Date: 2025-05-01
Form Type: 10-Q
Source: 0001212545-25-000141
Chunk: 50

Company: WESTERN ALLIANCE BANCORPORATION
Filing Date: 2025-05-01
Form: 10-Q
Item: Part I, Item 1
Chunk 50
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 which holds certain investment securities, municipal and nonprofit loans, and leases; 2) WA PWI, which holds interests in certain limited partnerships invested primarily in low income housing tax credits and small business investment corporations; 3) Helios Prime, which holds interests in certain limited partnerships invested in renewable energy projects; 4) BW, which operates as a real estate investment trust and holds certain of WAB's real estate loans and related securities; and 5) Western Finance Company, which purchases and originates equipment finance leases and provides mortgage banking services through its wholly-owned subsidiary, AmeriHome. The Company does not have any other significant entities that should be consolidated. All significant intercompany balances and transactions have been eliminated in consolidation.Reclassifications

Certain amounts in the Consolidated Income Statements for the prior periods have been reclassified to conform to the current presentation. The reclassifications had no effect on net income or stockholders’ equity as previously reported. 

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2. INVESTMENT SECURITIES The carrying amounts and fair values of investment securities are summarized as follows:March 31, 2025Amortized CostGross Unrealized GainsGross Unrealized (Losses)Fair Value(in millions)Held-to-maturityTax-exempt$1,362 $1 $(144)$1,219 Private label residential MBS174 — (34)140 Total HTM securities$1,536 $1 $(178)$1,359 Available-for-sale debt securitiesResidential MBS issued by GSEs and GNMA$6,888 $29 $(362)$6,555 U.S. Treasury securities4,017 1 (2)4,016 Private label residential MBS1,139 — (181)958 CLO876 1 (1)876 Tax-exempt918 — (93)825 Commercial MBS issued by GSEs and GNMA552 3 (9)546 Corporate debt securities402 — (17)385 Other75 1 (6)70 Total AFS debt securities$14,867 $35 $(671)$14,231 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