Company: WAL-PA
Filing Date: 2025-11-03
Form Type: 10-Q
Source: 0001628280-25-047883
Chunk: 305

Company: WESTERN ALLIANCE BANCORPORATION
Filing Date: 2025-11-03
Form: 10-Q
Item: Part I, Item 8
Chunk 305
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 30, 2025, $535 million is scheduled to mature in the remainder of 2025. These office loans primarily consist of shorter-term bridge loans that enable borrowers to reposition or redevelop projects with more modern standards attractive to in-office employers in today’s environment, including enhanced on-site amenities. The vast majority of these projects are located in suburban locations in the Company's core footprint states (Arizona, California, and Nevada), with central business district and midtown exposure totaling less than 1% and 10% of office loans as of September 30, 2025, respectively. 

The office loan portfolio largely consists of value-add loans that require significant up-front cash equity contributions from institutional sponsors and large regional and national developers. The properties underlying these loans have stable business trends and low vacancy rates. To a large extent, the financing structures of these loans do not carry junior liens or mezzanine debt, which enables maximum flexibility when working with clients and sponsors. In addition to adhering to conservative underwriting standards, asset-specific credit risk is mitigated through continued sponsor support of projects by re-appraisal rights of the Company, re-margining requirements and ongoing debt service, and debt yield covenants. 

As of September 30, 2025 and December 31, 2024, 14% and 16% of the Company's CRE loans, excluding construction and land loans, were owner occupied, respectively, with substantially all of these loans secured by first liens and had an initial loan-to-value ratio of generally not more than 75%. 

Non-performing Assets

Total non-performing loans increased $75 million to $679 million at September 30, 2025, from $604 million at December 31, 2024.

September 30, 2025December 31, 2024(dollars in millions)Total nonaccrual loans (1)$522 $476 Loans past due 90 days or more on accrual status (2)49 — Accruing restructured loans108 128 Total nonperforming loans$679 $604 Other assets acquired through foreclosure, net$130 $52 Nonaccrual HFI loans to funded HFI loans0.92 %0.89 %Loans past due 90 days or more on accrual status to funded loans HFI (2)0.09 — 

(1)Includes loan modifications to borrowers experiencing financial difficulty of $