Company: WAL-PA
Filing Date: 2025-05-01
Form Type: 10-Q
Source: 0001212545-25-000141
Chunk: 260

Company: WESTERN ALLIANCE BANCORPORATION
Filing Date: 2025-05-01
Form: 10-Q
Item: Part I, Item 8
Chunk 260
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.3 0.08 Construction and land development3 27 5.3 0.05 Other31 2 0.4 0.00 Total210 $508 100.0 %0.93 %

December 31, 2024Number of LoansProblem Loan BalancePercent of Problem Loan BalancePercent of Total Loans HFI(dollars in millions)Municipal & nonprofit2 $18 3.7 %0.03 %Other commercial and industrial89 121 24.8 0.23 CRE - owner occupied9 7 1.4 0.01 Hotel franchise finance8 112 22.9 0.21 Other CRE - non-owner occupied9 136 27.8 0.25 Residential169 92 18.8 0.17 Other33 3 0.6 0.01 Total319 $489 100.0 %0.91 %

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Mortgage Servicing Rights

The fair value of the Company's MSRs related to residential mortgage loans totaled $1.2 billion and $1.1 billion as of March 31, 2025 and December 31, 2024, respectively.

The following is a summary of the UPB of loans underlying the Company's MSR portfolio by type:

March 31, 2025December 31, 2024(in millions)FNMA and FHLMC$48,056 $42,908 GNMA18,973 14,980 Non-agency3,534 3,201 Total unpaid principal balance of loans$70,563 $61,089 

Other Assets Acquired through Foreclosure

Other assets acquired through foreclosure consist primarily of properties acquired as a result of, or in-lieu-of, foreclosure and at March 31, 2025 and December 31, 2024, totaled $51 million and $52 million, respectively, net of a valuation allowance of $5 million, as of each date.

The majority of the repossessed asset balance at March 31, 2025 and December 31, 2024 related to a single office property. The Company held five properties at March 31, 2025 and December 31, 2024.

Goodwill and Other Intangible Assets

Goodwill represents the excess consideration paid for net assets acquired in a business combination over their fair value.