WESTERN ALLIANCE BANCORPORATION
For the period ended Mar 31, 2024. Filed May 2, 2024.
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A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Mar 31, 2024 · Filed May 2, 2024
WAL$76.30-1.2%Stored close · as of Nov 10, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
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Consolidated Income Statements
| Three Months Ended March 31, | ||
|---|---|---|
| 2024 | 2023 | |
| (in millions, except per share amounts) | ||
| Interest income: | ||
| Loans, including fees | $871.9 | $832.7 |
| Investment securities | 142.4 | 94.3 |
| Dividends and other | 40.7 | 41.9 |
| Total interest income | 1,055.0 | 968.9 |
| Interest expense: | ||
| Deposits | 380.6 | 231.6 |
| Qualifying debt | 9.5 | 9.3 |
| Other borrowings | 66.0 | 118.1 |
| Total interest expense | 456.1 | 359.0 |
| Net interest income | 598.9 | 609.9 |
| Provision for credit losses | 15.2 | 19.4 |
| Net interest income after provision for credit losses | 583.7 | 590.5 |
| Non-interest income: | ||
| Net loan servicing revenue | 46.4 | 41.9 |
| Net gain on loan origination and sale activities | 45.3 | 31.4 |
| Income from equity investments | 17.1 | 1.4 |
| Service charges and fees | 9.9 | 9.5 |
| Commercial banking related income | 6.5 | 6.2 |
| Fair value gain (loss) adjustments, net | 0.3 | (147.8) |
| (Loss) gain on recovery from credit guarantees | (0.5) | 3.3 |
| Loss on sales of investment securities | (0.9) | (12.5) |
| Other income | 5.8 | 8.6 |
| Total non-interest income | 129.9 | (58.0) |
| Non-interest expense: | ||
| Salaries and employee benefits | 154.9 | 148.9 |
| Deposit costs | 137.0 | 86.9 |
| Insurance | 58.9 | 15.7 |
| Data processing | 36.0 | 26.4 |
| Legal, professional, and directors' fees | 30.1 | 23.1 |
| Occupancy | 17.5 | 16.5 |
| Loan servicing expenses | 15.0 | 13.8 |
| Business development and marketing | 5.5 | 5.2 |
| Loan acquisition and origination expenses | 4.8 | 4.4 |
| Gain on extinguishment of debt | — | (12.7) |
| Other expense | 22.1 | 19.7 |
| Total non-interest expense | 481.8 | 347.9 |
| Income before provision for income taxes | 231.8 | 184.6 |
| Income tax expense | 54.4 | 42.4 |
| Net income | 177.4 | 142.2 |
| Dividends on preferred stock | 3.2 | 3.2 |
| Net income available to common stockholders | $174.2 | $139.0 |
| Earnings per share: | ||
| Basic | $1.61 | $1.29 |
| Diluted | 1.60 | 1.28 |
| Weighted average number of common shares outstanding: | ||
| Basic | 108.5 | 108.1 |
| Diluted | 109.0 | 108.3 |
| Dividends declared per common share | $0.37 | $0.36 |
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