WESTERN ALLIANCE BANCORPORATION (WAL) Company Report

Western Alliance Bancorporation reported total deposits of $77.2 billion in Q3 2025, marking a year-over-year growth of $9.2 billion and a quarter-over-quarter increase of $6.14 billion. Non-interest bearing deposits constituted 34% of total deposits.
The company maintained strong capital levels, with an adjusted CET1 ratio of 11.3% in Q3 2025, exceeding "well-capitalized" levels. The Tangible Common Equity to Tangible Assets (TCE/TA) ratio was 11.3% in Q3 2025.
In terms of asset quality, Criticized Loans decreased by $196 million quarterly to $1.3 billion, with Special Mention Loans decreasing by $152 million to $292 million in Q3 2025. Non-Performing Loans stood at $477 million in Q3 2025.
Management provided a positive outlook for 2025, projecting deposit growth of +$8.5 billion and loan (HFI) growth of +$5.0 billion. Net Interest Income is expected to be up 8% - 10%, and Non-interest Income is projected to be up 12% - 16%.

Oct 22, 2025, 4:00 PM

Presentation

Western Alliance Bancorporation Reports Record Q3 2025 Net Revenue and Pre-Provision Net Revenue

WAL

Earnings

Guidance Update

Share Buyback

Western Alliance Bancorporation (WAL) reported record net revenue of $938 million and pre-provision net revenue of $394 million for Q3 2025, with EPS of $2.28.
The company achieved significant balance sheet growth, with deposits increasing by $6.1 billion and net interest income rising 8% quarter-over-quarter to $750 million.
WAL addressed specific credit exposures, including a $98.5 million note financed loan to Canter Group 5 with a $30 million reserve due to alleged fraud, and a $168 million ABL facility to Point Benita Fund 1, which remains current.
For the full year 2025, WAL raised year-end deposit growth expectations to $8.5 billion and anticipates net interest income growth of 8% to 10%, alongside non-interest income growth of 12% to 16%.
The company executed $25 million of its $300 million authorized stock buyback post-quarter end, maintaining its CET1 ratio comfortably above 11%.

Oct 22, 2025, 4:00 PM

Transcript

Western Alliance Bank Reports Strong Q3 2025 Results and Updates Full-Year Guidance

WAL

Earnings

Guidance Update

Share Buyback

Western Alliance Bank reported strong financial results for Q3 2025, including record net revenue and pre-provision net revenue (PPNR) of $938,000,000 and $394,000,000 respectively, with EPS of $2.28.
The company achieved healthy balance sheet growth, with deposits increasing by $6,100,000,000 and held for investment loans growing by $700,000,000 in Q3 2025, contributing to a 30% linked quarter annualized expansion in net interest income.
Management provided an updated outlook for 2025, reiterating loan growth outlook of $5,000,000,000 and raising year-end deposit growth expectations to $8,500,000,000, while maintaining net interest income growth of 8% to 10% and a mid 3.5% net interest margin for the full year.
Credit quality performed in line with guidance, with total criticized assets declining 17% and net charge-offs at 22 basis points; a $30,000,000 reserve was established for a $98,500,000 non-accrual loan related to Cantor Group V.
Capital levels remained strong with CET1 at 11.3%, and the company initiated a $300,000,000 share buyback program, purchasing $25,000,000 through October 17, 2025.

Oct 22, 2025, 4:00 PM

Transcript

Western Alliance Bancorporation Reports Strong Q3 2025 Financial Results

WAL

Earnings

Revenue Acceleration/Inflection

Western Alliance Bancorporation reported strong third-quarter 2025 financial results, with earnings per share surging 26.7% year-over-year to $2.28 and net income rising 30.4% year-over-year to $260.5 million.
The bank experienced significant growth, including a $6.1 billion increase in deposits and revenue growth of 10.9% sequentially to $938.2 million.
Asset quality remained strong, reflected in a negative $80 million provision for credit losses, and the efficiency ratio improved to 47.8%.
Tangible book value per share increased 11.6% year-over-year to $58.56, surpassing analyst estimates.

Oct 21, 2025, 10:16 PM

Morningstar

Western Alliance Bancorporation Reports Third Quarter 2025 Financial Results

WAL

Earnings

Share Buyback

Western Alliance Bancorporation reported net income of $260.5 million and earnings per share of $2.28 for the third quarter of 2025, representing increases of 10.1% and 26.7% year-over-year, respectively.
Net revenue totaled $938.2 million for Q3 2025, an increase of 14.0% compared to Q3 2024, contributing to a record Pre-Provision Net Revenue (PPNR) of $393.8 million.
The company achieved healthy balance sheet growth with quarterly loan growth of $707 million and deposit growth of $6.1 billion, boosting total assets to over $90 billion. Provision for credit losses increased to $80.0 million in Q3 2025, primarily due to net charge-offs and a reserve for the Cantor Group V loan.
The company's tangible book value per share climbed 12.7% year-over-year to $58.56, and it repurchased 300,833 shares for $25.0 million through October 17, 2025, under its share repurchase program.

Oct 21, 2025, 8:16 PM

Press Release

Western Alliance Bancorporation Reports Strong Q3 2025 Financial Results

WAL

Earnings

Revenue Acceleration/Inflection

Share Buyback

Western Alliance Bancorporation reported net income of $260.5 million and diluted earnings per common share of $2.28 for Q3 2025, marking increases of 10.1% quarter-over-quarter and 26.7% year-over-year.
Total assets grew to $91.0 billion at September 30, 2025, driven by an 8.6% quarterly increase in total deposits to $77.2 billion and a 1.3% quarterly increase in HFI loans to $56.6 billion.
The company achieved a record pre-provision net revenue (PPNR) of $393.8 million in Q3 2025, up $62.6 million from the prior quarter, with a stable net interest margin of 3.53%.
Provision for credit losses increased to $80.0 million due to net charge-offs and a $30 million reserve for the Cantor Group V loan, while the Common Equity Tier 1 (CET1) ratio improved to 11.3% and tangible book value per share rose to $58.56.

Oct 21, 2025, 8:08 PM

8-K

Western Alliance Shares Drop Following Fraud Allegations and Loan Losses

WAL

Legal Proceedings

Demand Weakening

Western Alliance Bancorporation (WAL) shares plunged by as much as 12.6% following the bank's announcement of legal action against Cantor Group, alleging fraud related to collateralized loans.
The lawsuit claims the borrower failed to maintain priority collateral positions, raising investor concerns about regional banks' loan exposures.
Zions Bancorp also disclosed a $50 million charge-off linked to problematic loans connected to Cantor Group, further contributing to broader worries in the financial sector.
Despite these legal and credit challenges, Western Alliance maintains a positive outlook for 2025, highlighting a reduction in criticized assets and steady financial metrics, including $3.2 billion in trailing twelve months revenue and a 26.37% net margin.

Oct 16, 2025, 4:28 PM

Bloomberg

Western Alliance Bancorporation Announces Share Repurchase Program

WAL

Share Buyback

Western Alliance Bancorporation's Board of Directors has authorized a share repurchase program of up to $300 million.
The share repurchase program has no expiration date.
The company intends to return excess capital to shareholders, mitigate share price volatility, and enhance total shareholder returns, citing strong business momentum, expanding profitability, and a fortified capital position.
The timing and price of repurchases will be at the Company's discretion and may occur through open market or private transactions.

Sep 12, 2025, 8:06 PM

Press Release

Grayscale Launches New Digital Asset Trusts

WAL

Product Launch

New Projects/Investments

On August 12, 2025, Grayscale launched the Grayscale DeepBook Trust and Grayscale Walrus Trust, offering investors exposure to the DEEP and WAL tokens, native to the DeepBook and Walrus protocols within the Sui blockchain ecosystem.
DeepBook serves as a native central limit order book for DeFi applications, while Walrus is a global data layer for on-chain builders, both designed to support the Sui network.
These trusts are open for daily subscription by eligible accredited investors and are solely invested in their respective underlying tokens.
Investors should note that these private placement securities are speculative, illiquid, and entail a high level of risk, including the potential loss of their entire investment, given the nascent stage and volatility of the underlying digital assets and protocols.

Aug 12, 2025, 1:06 PM

Press Release

Western Alliance Bancorp Reports Q1 2025 Performance, Earnings & Guidance

WAL

Earnings

Guidance Update

Q1 2025 performance: Net income of $199.1M with EPS of $1.79 (12.2% YoY growth ) and pre-provision net revenue of $278M (12% YoY increase), driven by a $52M boost in net interest income .
Strong balance sheet: Achieved $1.1B in loan growth (8.0% YoY) and $7.1B in deposit growth (11.4% YoY) with a CET1 ratio of 11.1% .
Robust 2025 guidance: Targets include $5B in loan growth, $8B in deposit growth, and maintaining a CET1 ratio above 11% .
Capital strength: Tangible Book Value per share increased to $54.10 (up 14.4% YoY), driven by organic earnings and strategic preferred stock issuance .
Expanded balance sheet: Continued deposit growth and enhanced tangible book value supported by increased REIT preferred equity proceeds .

Apr 22, 2025, 4:01 PM

Transcript Presentation

Earnings Transcripts

Quarterly earnings call transcripts for WESTERN ALLIANCE BANCORPORATION.

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