Company: WAL-PA
Filing Date: 2025-05-01
Form Type: 10-Q
Source: 0001212545-25-000141
Chunk: 54

Company: WESTERN ALLIANCE BANCORPORATION
Filing Date: 2025-05-01
Form: 10-Q
Item: Part I, Item 1
Chunk 54
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 issuers continue to make timely principal and interest payments.The following tables present a rollforward by major security type of the ACL on the Company's AFS debt securities:Three Months Ended March 31, 2025Balance, December 31, 2024Recovery of Credit LossesCharge-offsRecoveriesBalance, March 31, 2025(in millions)Available-for-sale securitiesCorporate debt securities$0.4 $(0.2)$— $— $0.2 Three Months Ended March 31, 2024Balance, December 31, 2023Recovery of Credit LossesCharge-offsRecoveriesBalance March 31, 2024(in millions)Available-for-sale securitiesCorporate debt securities$1.4 $(0.1)$— $— $1.3 

15

The credit loss model under ASC 326-20, applicable to HTM debt securities, requires recognition of lifetime expected credit losses through an allowance account at the time the security is purchased. The following table presents a rollforward by major security type of the ACL on the Company's HTM debt securities:Three Months Ended March 31, 2025Balance, December 31, 2024Recovery of Credit LossesCharge-offsRecoveriesBalance, March 31, 2025(in millions)Held-to-maturity debt securitiesTax-exempt$16.4 $(4.8)$— $— $11.6 Three Months Ended March 31, 2024Balance, December 31, 2023Provision for Credit LossesCharge-offsRecoveriesBalance March 31, 2024(in millions)Held-to-maturity debt securitiesTax-exempt$7.8 $0.4 $— $— $8.2 No allowance has been recognized on the Company's HTM private label residential MBS as losses are not expected due to the Company holding a senior position in these securities. Accrued interest receivable on HTM debt securities totaled $5 million at March 31, 2025 and December 31, 2024 and is excluded from the estimate of expected credit losses.The following tables summarize the carrying amount of the Company’s investment ratings position, which are updated quarterly and used to monitor the credit quality of the Company's securities: March 31, 2025AAASplit-rated AAA/AA+AA+ to AA-A+ to A-BBB+ to BBB