Company: WAL-PA
Filing Date: 2025-11-03
Form Type: 10-Q
Source: 0001628280-25-047883
Chunk: 161

Company: WESTERN ALLIANCE BANCORPORATION
Filing Date: 2025-11-03
Form: 10-Q
Item: Part I, Item 1
Chunk 161
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Other415 4.2 0.7 57.8 Total CRE - non-owner occupied$9,868 100.0 %18.4 %51.6 %

(1)    The weighted average LTVs in the above table are based on the most recent available information, if current appraisals are not available.

The following table presents the Company’s CRE non-owner occupied loans by origination year as of September 30, 2025:

Origination Year20252024202320222021PriorTotal(in millions)CRE - non-owner occupied$902 $897 $1,169 $3,753 $1,446 $2,320 $10,487 

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The following table presents the scheduled maturities of the Company’s CRE non-owner occupied loans as of September 30, 2025:

(in millions)2025$1,093 20263,087 20272,552 20281,464 2029968 Thereafter1,323 Total$10,487 

Approximately $2.2 billion, or 3.9%, of total loans HFI consisted of CRE non-owner occupied office loans as of September 30, 2025, compared to $2.3 billion, or 4.4%, as of December 31, 2024. Of the non-owner occupied office loan balance as of September 30, 2025, $535 million is scheduled to mature in the remainder of 2025. These office loans primarily consist of shorter-term bridge loans that enable borrowers to reposition or redevelop projects with more modern standards attractive to in-office employers in today’s environment, including enhanced on-site amenities. The vast majority of these projects are located in suburban locations in the Company's core footprint states (Arizona, California, and Nevada), with central business district and midtown exposure totaling less than 1% and 10% of office loans as of September 30, 2025, respectively. 

The office loan portfolio largely consists of value-add loans that require significant up-front cash equity contributions from institutional sponsors and large regional and national developers. The properties underlying these loans have stable business trends and low vacancy rates. To a large extent, the financing structures of these loans do not carry junior liens or mezzanine debt, which enables maximum flexibility when working with clients and sponsors. In addition to adhering to conservative underwriting standards, asset-specific credit risk is mitigated