Company: WAL-PA
Filing Date: 2025-11-03
Form Type: 10-Q
Source: 0001628280-25-047883
Chunk: 63

Company: WESTERN ALLIANCE BANCORPORATION
Filing Date: 2025-11-03
Form: 10-Q
Item: Part I, Item 1
Chunk 63
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 segment at December 31, 2024, were reclassified to the other commercial and industrial loan portfolio segment during the third quarter of 2025. In addition, the warehouse lending loan portfolio segment was renamed mortgage finance, consisting of mortgage warehouse lines and MSR financing facilities. The prior period disclosures presented in "Note 4. Loans, Leases and Allowance for Credit Losses" of these Notes to Unaudited Consolidated Financial Statements and "Management's Discussion and Analysis of Financial Condition and Results of Operations" in Item 2 of this Form 10-Q were recast to reflect this change in loan portfolio segments.Common stock repurchasesOn September 12, 2025, the BOD adopted a common stock repurchase program, pursuant to which the Company is authorized to repurchase up to $300.0 million of the Company’s shares of common stock. All shares repurchased under the plan are retired upon settlement. The Company has elected to allocate the excess of the repurchase price over the par value of its common stock between additional paid in capital and retained earnings. The portion allocated to additional paid in capital is limited to the amount of additional paid in capital that was recorded at the time the shares were initially issued, which was calculated on a last-in, first-out basis.

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2. INVESTMENT SECURITIES The carrying amounts and fair values of investment securities are summarized as follows:September 30, 2025Amortized CostGross Unrealized GainsGross Unrealized (Losses)Fair Value(in millions)Held-to-maturityTax-exempt$1,363 $2 $(136)$1,229 Private label residential MBS169 — (31)138 Total HTM securities$1,532 $2 $(167)$1,367 Available-for-sale debt securitiesResidential MBS issued by GSEs and GNMA$7,347 $43 $(325)$7,065 U.S. Treasury securities5,313 75 — 5,388 CLO1,883 6 (1)1,888 Private label residential MBS1,203 1 (160)1,044 Tax-exempt895 — (90)805 Commercial MBS issued by GSEs and GNMA625 5 (8)622 Corporate debt securities362 — (12)350 Other75 1 (8)68 Total AFS debt securities$