WESTERN ALLIANCE BANCORPORATION
For the period ended Sep 30, 2025. Filed Nov 3, 2025.
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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.
Sep 30, 2025 · Filed Nov 3, 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 Statements of Cash Flows
| Nine Months Ended September 30, | ||
|---|---|---|
| 2025 | 2024 | |
| (in millions) | ||
| Cash flows from operating activities: | ||
| Net income | $697.4 | $570.8 |
| Adjustments to reconcile net income to net cash provided by (used in) operating activities: | ||
| Provision for credit losses | 151.1 | 85.9 |
| Depreciation and amortization | 79.1 | 64.6 |
| Stock-based compensation | 39.3 | 37.0 |
| Deferred income taxes | (99.6) | (10.0) |
| Amortization of net discounts for investment securities | (38.8) | (170.6) |
| Amortization of tax credit investments | 55.3 | 55.3 |
| Amortization of operating lease right of use asset | 17.7 | 18.0 |
| Amortization of net deferred loan fees and net purchase premiums | (58.7) | (66.8) |
| Purchases and originations of loans HFS | (42,473.8) | (35,134.2) |
| Proceeds from sales and payments on loans HFS and related securitization activities | 40,026.4 | 32,872.9 |
| Mortgage servicing rights capitalized upon sale of mortgage loans | (863.4) | (625.9) |
| Net losses (gains) on: | ||
| Change in fair value of trading securities, loans HFS, mortgage servicing rights, and related derivatives | 165.1 | 83.0 |
| Fair value adjustments | 3.2 | (11.5) |
| Sale of investment securities | (22.0) | (10.2) |
| Other | (18.3) | (16.6) |
| Other assets and liabilities, net | (269.1) | 138.0 |
| Net cash used in operating activities | $(2,609.1) | $(2,120.3) |
| Cash flows from investing activities: | ||
| Investment securities - AFS | ||
| Purchases | $(13,524.8) | $(14,325.2) |
| Principal pay downs and maturities | 5,230.0 | 7,219.5 |
| Proceeds from sales | 4,855.1 | 4,020.7 |
| Investment securities - HTM | ||
| Purchases | (78.3) | (121.5) |
| Principal pay downs and maturities | 73.9 | 26.0 |
| Equity securities carried at fair value | ||
| Purchases | (0.6) | (0.6) |
| Redemptions | 5.0 | 15.0 |
| Proceeds from sales | 34.3 | — |
| Proceeds from sale of mortgage servicing rights and related holdbacks, net | 631.1 | 653.8 |
| (Purchase of) proceeds from other investments, net | (183.4) | 33.9 |
| Proceeds from bank owned life insurance, net | 0.6 | — |
| Net increase in loans HFI | (3,145.1) | (3,218.7) |
| Purchase of premises, equipment, and other assets, net | (65.9) | (57.1) |
| Purchase of bank owned life insurance | — | (800.0) |
| Proceeds from sale of other repossessed assets | 17.2 | — |
| Net cash used in investing activities | $(6,150.9) | $(6,554.2) |
| Nine Months Ended September 30, | ||
|---|---|---|
| 2025 | 2024 | |
| (in millions) | ||
| Cash flows from financing activities: | ||
| Net increase in deposits | $10,901.3 | $12,707.3 |
| Net proceeds from issuance of long-term debt | 6,200.0 | 1,000.0 |
| Payments on long-term debt | (5,944.5) | (19.1) |
| Net decrease in short-term borrowings | (856.8) | (3,857.2) |
| Net proceeds from issuance of equity by a subsidiary | 293.1 | — |
| Cash paid for tax withholding on vested restricted stock and other | (11.8) | (8.7) |
| Common stock repurchases | (10.6) | — |
| Cash dividends paid on common and preferred stock | (135.4) | (131.8) |
| Cash dividends paid to noncontrolling interest | (14.5) | — |
| Net cash provided by financing activities | $10,420.8 | $9,690.5 |
| Net increase in cash and cash equivalents | 1,660.8 | 1,016.0 |
| Cash, cash equivalents, and restricted cash at beginning of period | 4,095.6 | 1,576.1 |
| Cash, cash equivalents, and restricted cash at end of period | $5,756.4 | $2,592.1 |
| Supplemental disclosure: | ||
| Cash paid (received) during the period for: | ||
| Interest | $1,389.5 | $1,435.7 |
| Income taxes, net | 33.9 | (27.5) |
| Non-cash activities: | ||
| Transfers of mortgage-backed securities in settlement of secured borrowings | 1,350.0 | 1,369.3 |
| Transfers of securitized loans HFS to AFS securities | — | 123.0 |
| Transfers of loans HFI to HFS, net of fair value loss adjustment (1) | 172.1 | 207.8 |
| Transfers of loans HFI to other assets acquired through foreclosure | 177.3 | — |
| Transfers of OREO properties to premises and equipment, net | 47.6 | — |
| Financed sale of OREO | 28.5 | — |
(1)Activity for the nine months ended September 30, 2025 and 2024 excludes $337.6 million and $333.3 million, respectively, of loans transferred with an original designation of HFS, which sales activity was classified as operating cash flows.
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