Company: WAL-PA
Filing Date: 2025-08-01
Form Type: 10-Q
Source: 0001212545-25-000214
Chunk: 151

Company: WESTERN ALLIANCE BANCORPORATION
Filing Date: 2025-08-01
Form: 10-Q
Item: Part I, Item 1
Chunk 151
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 directors' fees25.3 25.8 (0.5)54.2 55.9 (1.7)Loan servicing expenses20.1 16.6 3.5 36.5 31.6 4.9 Occupancy16.9 18.4 (1.5)34.1 35.9 (1.8)Business development and marketing6.1 6.4 (0.3)12.0 11.9 0.1 Loan acquisition and origination expenses5.8 5.1 0.7 11.0 9.9 1.1 Other expense30.8 18.3 12.5 55.3 40.4 14.9 Total non-interest expense$514.7 $486.8 $27.9 $1,015.1 $968.6 $46.5 

Total non-interest expense for the three months ended June 30, 2025 increased $27.9 million compared to the same period in 2024 primarily driven by increases in salaries and employee benefits as well as data processing expenses, partially offset by a decrease in deposit costs. Salaries and employee benefits increased $26.9 million due to increases in average salary and headcount. Data processing expenses increased $9.3 million due to higher software fees and an increase in software depreciation. These increases were partially offset by a decrease in deposit costs of $26.3 million as a result of lower ECR rates.

Total non-interest expense for the six months ended June 30, 2025 increased $46.5 million compared to the same period in 2024 primarily driven by an increase in salaries and employee benefits and data processing expenses as noted in the above paragraph. These increases were partially offset by decreases in deposit costs and insurance expense. Lower ECR rates drove the decrease in deposit costs, while the decrease in insurance costs was due to a reduction to insured and brokered deposit levels in the current year and a net FDIC special assessment charge of $11.6 million recognized during the six months ended June 30, 2024.

Income Taxes

The Company's effective tax rate was 18.4% and 21.9% for the three months ended June 30, 2025 and 2024, respectively, and 18.8% and 22.7% for the six