WESTERN ALLIANCE BANCORPORATION
For the period ended Dec 31, 2024. Filed Feb 25, 2025.
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FY2024 · Filed Feb 25, 2025
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
| Year Ended December 31, | |||
|---|---|---|---|
| 2024 | 2023 | 2022 | |
| (in millions, except per share amounts) | |||
| Interest income: | |||
| Loans, including fees | $3,629.1 | $3,409.7 | $2,393.4 |
| Investment securities | 703.6 | 459.9 | 265.6 |
| Dividends and other | 208.4 | 165.7 | 32.8 |
| Total interest income | 4,541.1 | 4,035.3 | 2,691.8 |
| Interest expense: | |||
| Deposits | 1,600.2 | 1,142.6 | 276.4 |
| Qualifying debt | 38.0 | 37.9 | 35.0 |
| Other borrowings | 284.0 | 515.9 | 164.1 |
| Total interest expense | 1,922.2 | 1,696.4 | 475.5 |
| Net interest income | 2,618.9 | 2,338.9 | 2,216.3 |
| Provision for credit losses | 145.9 | 62.6 | 68.1 |
| Net interest income after provision for credit losses | 2,473.0 | 2,276.3 | 2,148.2 |
| Non-interest income: | |||
| Service charges and loan fees | 96.0 | 101.0 | 49.5 |
| Net gain on loan origination and sale activities | 206.3 | 193.5 | 104.0 |
| Net loan servicing revenue | 121.5 | 102.3 | 130.9 |
| Income from equity investments | 38.2 | 15.7 | 17.8 |
| Income from bank owned life insurance | 27.8 | 4.5 | 4.6 |
| Gain (loss) on sales of investment securities | 17.4 | (40.8) | 6.8 |
| Fair value gain (loss) adjustments, net | 7.5 | (116.0) | (28.6) |
| Other income | 28.5 | 20.5 | 39.6 |
| Total non-interest income | 543.2 | 280.7 | 324.6 |
| Non-interest expense: | |||
| Salaries and employee benefits | 631.1 | 566.3 | 539.5 |
| Deposit costs | 693.2 | 436.7 | 165.8 |
| Insurance | 164.8 | 190.4 | 31.1 |
| Data processing | 149.7 | 122.0 | 83.0 |
| Legal, professional, and directors' fees | 109.4 | 107.2 | 99.9 |
| Occupancy | 73.1 | 65.6 | 55.5 |
| Loan servicing expenses | 68.1 | 58.8 | 55.5 |
| Business development and marketing | 32.7 | 21.8 | 22.1 |
| Loan acquisition and origination expenses | 21.5 | 20.4 | 23.1 |
| Gain on extinguishment of debt | — | (52.7) | — |
| Other expense | 81.4 | 86.9 | 81.2 |
| Total non-interest expense | 2,025.0 | 1,623.4 | 1,156.7 |
| Income before provision for income taxes | 991.2 | 933.6 | 1,316.1 |
| Income tax expense | 203.5 | 211.2 | 258.8 |
| Net income | 787.7 | 722.4 | 1,057.3 |
| Dividends on preferred stock | 12.8 | 12.8 | 12.8 |
| Net income available to common stockholders | $774.9 | $709.6 | $1,044.5 |
| Earnings per share: | |||
|---|---|---|---|
| Basic | $7.14 | $6.55 | $9.74 |
| Diluted | 7.09 | 6.54 | 9.70 |
| Weighted average number of common shares outstanding: | |||
| Basic | 108.6 | 108.3 | 107.2 |
| Diluted | 109.3 | 108.5 | 107.6 |
| Dividends declared per common share | $1.49 | $1.45 | $1.42 |
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