Company: WAL-PA
Filing Date: 2025-02-25
Form Type: 10-K
Source: 0001212545-25-000090
Chunk: 112

Company: WESTERN ALLIANCE BANCORPORATION
Filing Date: 2025-02-25
Form: 10-K
Item: Item 7
Chunk 112
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 CDARS and ICS, which offer products that qualify large deposits for FDIC insurance. At December 31, 2024, the Company had $14.0 billion of these reciprocal deposits, compared to $13.3 billion at December 31, 2023. At December 31, 2024 and 2023, the Company also had wholesale brokered deposits of $6.9 billion and $6.6 billion, respectively. 

In addition, deposits for which the Company provides account holders with earnings credits or referral fees totaled $20.7 billion and $17.8 billion at December 31, 2024 and 2023, respectively. Costs related to these deposits are primarily reported as Deposit 

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costs in non-interest expense. Deposit costs included $668.7 million and $422.5 million in deposit related costs on these deposits during the years ended December 31, 2024 and 2023, respectively. The increase in these costs from the prior year is due to an increase in earnings credit rates as well as an increase in average deposit balances eligible for earnings credits or referral fees.

The average balances and weighted average rates paid on deposits are presented below:

Year Ended December 31,202420232022Average BalanceRateAverage BalanceRateAverage BalanceRate(dollars in millions)Interest bearing demand accounts$16,155 2.98 %$12,422 2.83 %$8,331 0.95 %Savings and money market accounts17,462 3.49 14,903 2.87 18,518 0.86 Certificates of deposit10,085 5.05 7,945 4.56 2,772 1.40 Total interest bearing deposits43,702 3.66 35,270 3.24 29,621 0.93 Non-interest bearing deposits22,017 — 18,293 — 24,133 — Total deposits$65,719 2.43 %$53,563 2.13 %$53,754 0.51 %

At December 31, 2024 and 2023, the Company had total uninsured deposits of $17.6 billion and $15.2 billion, respectively. Total U.S. time deposits in excess of the FDIC insurance limit were $1.2 billion and $1.0 billion at December 31,