Company: WAL-PA
Filing Date: 2025-11-03
Form Type: 10-Q
Source: 0001628280-25-047883
Chunk: 93

Company: WESTERN ALLIANCE BANCORPORATION
Filing Date: 2025-11-03
Form: 10-Q
Item: Part I, Item 1
Chunk 93
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 foreclosure consist primarily of properties acquired as a result of, or in-lieu-of, foreclosure. The Company held fourteen properties at September 30, 2025 compared to five at December 31, 2024. At September 30, 2025 and December 31, 2024, the Company had a repossessed asset balance of $130 million and $52 million, respectively, net of a valuation allowance of $14 million and $5 million, respectively, recognized as a component of Other assets in the Consolidated Balance Sheet. The majority of the repossessed asset balance at September 30, 2025 and December 31, 2024 related to office properties. 

During the three months and nine months ended September 30, 2025, the Company sold one property with a carrying value of $34 million for a gain of $6.3 million and four properties with a combined carrying value of $40 million for a net gain of $5.7 million, respectively. The Company recognized a net valuation loss of $8.0 million and $12.8 million during the three and nine months ended September 30, 2025, respectively. In addition, during the three and nine months ended September 30, 2025, one property with a carrying value of $48 million was transferred from OREO into Premises and equipment, net due to a change in management intent. During the three and nine months ended September 30, 2024, the Company recognized a net valuation loss of $1.2 million. 

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7. DEPOSITSThe table below summarizes deposits by type: September 30, 2025December 31, 2024(in millions)Non-interest bearing deposits$26,628 $18,846 Interest bearing:Demand accounts16,422 15,878 Savings and money market accounts24,627 21,208 Time certificates of deposit ($250,000 or more)1,916 1,640 Other time deposits (1)7,654 8,769 Total deposits$77,247 $66,341 (1)    Retail brokered time deposits over $250,000 of $4.4 billion and $5.6 billion as of September 30, 2025 and December 31, 2024, respectively, are included within Other time deposits as these deposits are generally participated out by brokers in shares below the FDIC insurance limit.A summary of the