Company: WAL-PA
Filing Date: 2025-05-01
Form Type: 10-Q
Source: 0001212545-25-000141
Chunk: 74

Company: WESTERN ALLIANCE BANCORPORATION
Filing Date: 2025-05-01
Form: 10-Q
Item: Part I, Item 1
Chunk 74
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.7 Residential EBO972 — 972 — — — Construction and land development4,401 67 4,468 21.3 — 21.3 Other173 1 174 3.3 — 3.3 Total$52,817 $859 $53,676 $304.5 $69.3 $373.8 

29

Loan Purchases and SalesLoan purchases during the three months ended March 31, 2025 and 2024 totaled $335 million and $389 million, respectively, which primarily consisted of residential and commercial and industrial loan purchases. There were no loans purchased with more-than-insignificant deterioration in credit quality during the three months ended March 31, 2025 and 2024.In the normal course of business, the Company also repurchases guaranteed or insured loans under the terms of the GNMA MBS program which can be repooled when loans are brought current either through the borrower's reperformance or completion of a loan modification and have demonstrated sustained performance for a period of time. The Company repurchased $127 million and $83 million of such EBO loans during the three months ended March 31, 2025 and 2024, respectively. Prior to repurchase, these loans are classified as loans eligible for repurchase, which is included as a component of Other assets on the Consolidated Balance Sheet.During the three months ended March 31, 2025, the Company sold loans with a carrying value of approximately $218 million and recognized a net loss of $2.6 million on these loan sales. During the three months ended March 31, 2024, the Company sold loans with a carrying value of approximately $148 million and recognized charge-offs of $1.4 million and a net loss of $4.9 million related to these loan sales.

5. MORTGAGE SERVICING RIGHTSThe following table presents changes in the fair value of the Company's MSR portfolio related to its mortgage banking business and other information related to its servicing portfolio: Three Months Ended March 31,20252024(in millions)Balance, beginning of period$1,127 $1,124 Additions from loans sold with servicing rights retained260 189 Carrying value of MSRs sold(83)(156)Change in fair value(20)60 Realization of cash flows(43)(39)Balance, end of period$1,241