Western Alliance Bancorporation (WAL) is a bank holding company headquartered in Phoenix, Arizona, operating through its wholly-owned banking subsidiary, Western Alliance Bank (WAB). The company provides a wide range of financial services, including customized loan, deposit, and treasury management solutions, as well as specialized financial services for businesses across the United States. WAL also operates several non-bank subsidiaries to support its operations and offers services through a branch-lite model with offices in key U.S. markets.
- Commercial Segment - Provides commercial banking and treasury management products and services to small and middle-market businesses, specialized banking services to commercial institutions and investors in niche industries, and financial services to the real estate industry.
- Consumer Related Segment - Offers commercial banking services to enterprises in consumer-related sectors and consumer banking services, including residential mortgage banking.
- Corporate & Other Segment - Includes the company's investment portfolio, corporate borrowings, income and expense items not allocated to other segments, and inter-segment eliminations.
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| Name | Position | External Roles | Short Bio | |
|---|---|---|---|---|
Barbara Kennedy Executive | Chief Human Resources Officer | None | Barbara Kennedy has been CHRO since 2018. She oversees HR functions, including diversity and inclusion efforts. She has extensive HR leadership experience. | |
Dale Gibbons Executive | Interim CEO and CFO | None | Dale Gibbons has been with WAL since 2003, serving as CFO and Vice Chair. He became interim CEO in December 2024 during Kenneth Vecchione's leave. He has over 30 years of banking experience. | |
Emily Nachlas Executive | Chief Risk Officer | None | Emily Nachlas joined WAL in 2019 as Chief Risk Officer. She oversees risk management strategies and operations. She has an MBA from the University of New Orleans. | |
Jessica Jarvi Executive | Chief Legal Officer | Vice Chair, First Things First Phoenix South Regional Partnership Council | Jessica Jarvi has been with WAL since 2007, serving in various legal roles. She became Chief Legal Officer in 2023 and oversees the Legal Department. | |
Kenneth A. Vecchione Executive | President and CEO (on temporary leave) | None | Kenneth Vecchione has been the CEO since 2018. He is currently on a temporary medical leave, with Dale Gibbons serving as interim CEO. Under his leadership, WAL has achieved strong financial performance. | |
Lynne B. Herndon Executive | Chief Credit Officer | National President and Foundation Trustee, Alpha Chi Omega Fraternity Inc. | Lynne Herndon joined WAL in 2024 as Chief Credit Officer. She has nearly 20 years of experience in commercial banking and credit management. | |
Stephen Curley Executive | Chief Banking Officer, National Business Lines | None | Stephen Curley joined WAL in 2009 and oversees national business lines. He has expanded responsibilities to include technology, operations, and business controls. | |
Tim Bruckner Executive | Chief Banking Officer, Regional Banking | Board Chair, Native American Connections | Tim Bruckner oversees WAL's regional banking divisions and specialty business lines. He has over 25 years of experience in commercial banking and lending. | |
Timothy Boothe Executive | Chief Administration Officer | None | Timothy Boothe joined WAL in 2015 through the acquisition of Bridge Bank. He has held roles such as COO and President of Bridge Bank. He became Chief Administration Officer in 2024. | |
Bruce D. Beach Board | Chair of the Board | Senior Advisor, BeachFleischman PC | Bruce Beach has been a director since 2005 and Chair of the Board since 2022. He has over 45 years of public accounting experience and has served in various leadership roles. | |
Christopher A. Halmy Board | Director | Chair of the Board, Mercury Financial; Independent Director, Burford Capital | Christopher Halmy joined WAL's board in 2024. He has extensive experience in finance and accounting, including serving as CFO of Ally Financial. | |
Greta Guggenheim Board | Director | None | Greta Guggenheim joined WAL's board in 2024. She serves on the Risk and Finance and Investment Committees. She has significant expertise in financial services. | |
Howard N. Gould Board | Director | None | Howard Gould has been a director since 2015. He is Chair of the Risk Committee and has extensive experience in risk management and regulatory frameworks. | |
Mary Chris Jammet Board | Director | Director, MGM Resorts International; Director, Adams Funds | Mary Chris Jammet joined WAL's board in 2024. She has expertise in asset management and corporate governance and serves on the Audit and Compensation Committees. |
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Given the negative impact of increased prepayment speeds on your MSR valuations and mortgage banking income in Q3, how do you plan to mitigate this risk in future quarters, especially if mortgage rates continue to be volatile?
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With your CET1 ratio increasing and higher regulatory capital requirements expected under Basel III Endgame proposals, how will this impact your ability to achieve your targeted ROE in the upper teens, and what strategies are you considering to navigate these challenges?
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You've mentioned that Q3 was likely the high watermark for ECR-related deposit costs, but with a significant portion of your deposits driven by seasonal mortgage warehouse inflows, how confident are you in managing deposit costs and sustaining NIM improvements if these deposits remain volatile?
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Considering the decline in loan yields due to lower SOFR rates and the decrease in loan fees this quarter, what steps are you taking to bolster net interest income and margins in the near term, and how sustainable are these measures?
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With expectations of a temporary $2 billion decline in deposits in Q4 due to seasonal outflows and active deposit mix management, what are the specific challenges you face in offsetting this decline through other deposit channels, and how might this impact your liquidity and growth plans?
Research analysts who have asked questions during WESTERN ALLIANCE BANCORPORATION earnings calls.
Anthony Elian
JPMorgan
4 questions for WAL
Bernard Von Gizycki
Deutsche Bank
4 questions for WAL
Christopher McGratty
Keefe, Bruyette & Woods
4 questions for WAL
Ebrahim Poonawala
Bank of America Securities
4 questions for WAL
Matthew Clark
Piper Sandler
4 questions for WAL
Andrew Terrell
Stephens Inc.
3 questions for WAL
Gary Tenner
D.A. Davidson & Co.
3 questions for WAL
Jon Arfstrom
RBC Capital Markets
3 questions for WAL
Timur Braziler
Wells Fargo
3 questions for WAL
Benjamin Gerlinger
Citigroup Inc.
2 questions for WAL
Casey Haire
Jefferies
2 questions for WAL
Jared Shaw
Barclays
2 questions for WAL
Brandon King
Truist Securities
1 question for WAL
David Smith
Truist Securities
1 question for WAL
Jared David Shaw
Barclays Capital
1 question for WAL
John Ron
Barclays PLC
1 question for WAL
Nicholas Holowko
UBS Group AG
1 question for WAL
Samuel Varga
UBS
1 question for WAL
Notable M&A activity and strategic investments in the past 3 years.
| Company | Year | Details |
|---|---|---|
Digital Settlement Technologies LLC (DST) | 2022 |
Recent press releases and 8-K filings for WAL.
- 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.
- 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.
- 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 .
- Solid Q1 performance with net income of $199.1 million and EPS of $1.79, alongside pre-provision net revenue of $277.6 million.
- Balance sheet growth highlighted by HFI loans reaching $54.8 billion and total deposits increasing to $69.3 billion.
- Robust risk management as nonperforming assets declined to 0.60% of total assets and net loan charge-offs to 0.20% of average loans.
- Western Alliance Bancorporation and its subsidiaries entered into a definitive Purchase Agreement on March 24, 2025, to sell 300,000 shares of BW Real Estate Inc.’s 9.500% Fixed-Rate Reset Non-Cumulative Exchangeable Perpetual Series B Preferred Stock with a liquidation preference of $1,000 per share.
- The offering is expected to generate net proceeds of approximately $294,750,000 before expenses and is scheduled to complete on March 27, 2025, utilizing exemptions under Rule 144A and Regulation S.
- The transaction structure is designed to create tax efficiencies by allowing interest on the Series B Preferred Stock to become a deductible expense and includes a provision for automatic exchange into Series A Preferred Stock upon regulatory trigger events.