Company: WAL-PA
Filing Date: 2025-08-01
Form Type: 10-Q
Source: 0001212545-25-000214
Chunk: 116

Company: WESTERN ALLIANCE BANCORPORATION
Filing Date: 2025-08-01
Form: 10-Q
Item: Part I, Item 1
Chunk 116
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 risk in the fair value of the liabilities (Level 3). The Company’s cash flow assumptions are based on contractual cash flows as the Company anticipates it will pay the debt according to its contractual terms. The fair value of assets and liabilities measured at fair value on a recurring basis was determined using the following inputs: Fair Value Measurements at the End of the Reporting Period Using:Quoted Prices in Active Markets for Identical Assets (Level 1)Significant Other Observable Inputs (Level 2)Significant Unobservable Inputs (Level 3)Fair ValueJune 30, 2025(in millions)Assets:Available-for-sale debt securitiesResidential MBS issued by GSEs and GNMA$— $6,666 $— $6,666 U.S. Treasury securities5,504 — — 5,504 CLO— 1,901 — 1,901 Private label residential MBS— 990 — 990 Tax-exempt— 796 — 796 Commercial MBS issued by GSEs and GNMA— 599 — 599 Corporate debt securities— 374 — 374 Other28 40 — 68 Total AFS debt securities$5,532 $11,366 $— $16,898 Trading securitiesResidential MBS issued by GSEs and GNMA$— $53 $— $53 Total trading securities$— $53 $— $53 Equity securitiesPreferred stock$63 $— $— $63 Common stock32 — — 32 CRA investments27 — — 27 Total equity securities$122 $— $— $122 Loans HFS (2)$— $2,896 $84 $2,980 Mortgage servicing rights— — 1,044 1,044 Derivative assets (1)— 119 57 176 Liabilities:Junior subordinated debt (3)$— $— $69 $69 Derivative liabilities (1)— 203 — 203 (1)See "Note 12. Derivatives and Hedging Activities." In addition, the carrying value of loans is decreased by $5 million as of June 30, 2025 for the effective portion of the hedge, which relates to the fair value of the h