Company: WAL-PA
Filing Date: 2025-11-03
Form Type: 10-Q
Source: 0001628280-25-047883
Chunk: 239

Company: WESTERN ALLIANCE BANCORPORATION
Filing Date: 2025-11-03
Form: 10-Q
Item: Part I, Item 8
Chunk 239
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 beneficial ownership of the transferred loans and will receive the loans from the lender upon full repayment of the borrowing. The repurchase agreements may require the Company to transfer additional assets to the lender in the event the estimated fair value of the existing transferred loans declines.As of September 30, 2025 and December 31, 2024, the Company had access to approximately $2.1 billion and $2.3 billion in uncommitted warehouse funding, respectively, of which no amounts were drawn.Other repurchase facilities include overnight customer repurchase agreements. The total carrying value of these repurchase agreements was zero and $14 million as of September 30, 2025 and December 31, 2024, respectively.Secured BorrowingsSecured borrowings consist of transfers of loans HFS not qualifying for sales accounting treatment. The weighted average interest rate on secured borrowings was 6.56% and 6.30% as of September 30, 2025 and December 31, 2024, respectively.

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Long-Term BorrowingsFHLB AdvancesThe Company also enters into long-term advances with the FHLB. The Company's borrowing capacity is determined based on the collateral pledged at the time of the borrowing, consisting of the same pools of investment securities and loans pledged for the short-term FHLB advances. The interest rates on these advances are based on daily SOFR plus a fixed spread. The Company may redeem the advances at par plus accrued and unpaid interest plus a make-whole provision upon termination that is based on the interest rate difference between the then current advance interest rate and the interest rate on the terminated advance. After three months from the inception date of the advances, prepayments are no longer subject to the make-whole provision. The weighted average rate on these long-term FHLB advances was 4.63% and 4.85% as of September 30, 2025 and December 31, 2024, respectively.The Company's outstanding long-term FHLB advances are detailed in the tables below:September 30, 2025DescriptionIssuance DateMaturity DateInterest RatePrincipal(in millions)FHLB advanceJuly 30, 2025October 30, 2026SOFR + 0.39%$2,500 Total$2,500 December 31, 2024DescriptionIssuance DateMaturity DateInterest RatePrincipal(in millions)FHLB advanceNovember 22, 2024February 24,