WESTERN ALLIANCE BANCORPORATION

For the period ended Dec 31, 2023. Filed Feb 28, 2024.

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FY2023 · Filed Feb 28, 2024

WAL$76.30-1.2%Stored close · as of Nov 10, 2026

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Contents

Consolidated Income Statements

	Year Ended December 31,
	2023	2022	2021
(in millions, except per share amounts)
Interest income:
Loans, including fees	$3,409.7	$2,393.4	$1,488.8
Investment securities	459.9	265.6	158.6
Dividends and other	165.7	32.8	11.3
Total interest income	4,035.3	2,691.8	1,658.7
Interest expense:
Deposits	1,142.6	276.4	47.5
Qualifying debt	37.9	35.0	33.1
Other borrowings	515.9	164.1	29.3
Total interest expense	1,696.4	475.5	109.9
Net interest income	2,338.9	2,216.3	1,548.8
Provision for (recovery of) credit losses	62.6	68.1	(21.4)
Net interest income after provision for credit losses	2,276.3	2,148.2	1,570.2
Non-interest income:
Net gain on loan origination and sale activities	193.5	104.0	326.2
Net loan servicing revenue (expense)	102.3	130.9	(16.3)
Service charges and fees	76.3	27.0	28.3
Commercial banking related income	23.7	21.5	17.4
Income from equity investments	15.7	17.8	22.1
(Loss) gain on recovery from credit guarantees	(2.2)	14.7	7.2
(Loss) gain on sales of investment securities	(40.8)	6.8	8.3
Fair value loss adjustments, net	(116.0)	(28.6)	(1.3)
Other income	28.2	30.5	12.3
Total non-interest income	280.7	324.6	404.2
Non-interest expense:
Salaries and employee benefits	566.3	539.5	466.7
Deposit costs	436.7	165.8	29.8
Insurance	190.4	31.1	23.0
Data processing	122.0	83.0	58.2
Legal, professional, and directors' fees	107.2	99.9	58.6
Occupancy	65.6	55.5	43.8
Loan servicing expenses	58.8	55.5	53.5
Business development and marketing	21.8	22.1	13.5
Loan acquisition and origination expenses	20.4	23.1	28.8
Acquisition and restructure expenses	—	0.4	15.3
(Gain) loss on extinguishment of debt	(52.7)	—	5.9
Other expense	86.9	80.8	54.3
Total non-interest expense	1,623.4	1,156.7	851.4
Income before provision for income taxes	933.6	1,316.1	1,123.0
Income tax expense	211.2	258.8	223.8
Net income	722.4	1,057.3	899.2
Dividends on preferred stock	12.8	12.8	3.5
Net income available to common stockholders	$709.6	$1,044.5	$895.7

Earnings per share:
Basic	$6.55	$9.74	$8.72
Diluted	6.54	9.70	8.67
Weighted average number of common shares outstanding:
Basic	108.3	107.2	102.7
Diluted	108.5	107.6	103.3
Dividends declared per common share	$1.45	$1.42	$1.20

ContentsView on SEC.gov

The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.