Company: WAL-PA
Filing Date: 2025-05-01
Form Type: 10-Q
Source: 0001212545-25-000141
Chunk: 246

Company: WESTERN ALLIANCE BANCORPORATION
Filing Date: 2025-05-01
Form: 10-Q
Item: Part I, Item 8
Chunk 246
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 $23.8 million and $33.1 million for the three months ended March 31, 2025 and 2024, respectively.

(3)Includes non-accrual loans.

(4)Net interest margin is computed by dividing net interest income by total average earning assets, annualized on an actual/actual basis.

65

Three Months Ended March 31,2025 versus 2024Increase (Decrease) Due to Changes in (1)VolumeRateTotal(in millions)Interest income:Loans HFS$29.2 $(1.7)$27.5 Loans HFI:Commercial and industrial65.5 (45.4)20.1 CRE - non-owner occupied9.5 (19.5)(10.0)CRE - owner-occupied1.1 0.8 1.9 Construction and land development(10.7)(14.6)(25.3)Residential real estate(4.0)(0.8)(4.8)Consumer(0.3)— (0.3)Total loans HFI61.1 (79.5)(18.4)Investment securities:Taxable25.4 (3.0)22.4 Tax-exempt0.5 1.1 1.6 Total investment securities25.9 (1.9)24.0 Cash and other12.9 (5.4)7.5 Total interest income129.1 (88.5)40.6 Interest expense:Interest bearing demand accounts(3.0)(19.1)(22.1)Savings and money market accounts46.3 (11.4)34.9 Certificates of deposit(1.3)(13.8)(15.1)Total deposits42.0 (44.3)(2.3)Short-term borrowings(24.1)(8.9)(33.0)Long-term debt30.5 (6.1)24.4 Qualifying debt— (0.2)(0.2)Total interest expense48.4 (59.5)(11.1)Net change$80.7 $(29.0)$51.7 

(1)    Changes attributable to both volume and rate are designated as volume changes.

Comparison of interest income, interest expense and net interest margin

The Company's primary source of revenue is