NYSE : WAL
Western Alliance Bancorporation — Financial statements
Financials · Banks - Regional · United States
Last price 76.365 USD (Oct 30, 2026, 9:55 AM EDT) · Market cap 8.14B
Overview · Financial statements · Key statistics · Dividends · Company profile · Price history · Reports
Financial statements
Income statement
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Interest Income on Loans | 3.77B | 3.68B | 3.63B | 3.41B | 2.39B | 1.49B |
| Interest Income on Investments | 1.12B | 1.01B | 912.00M | 625.60M | 298.40M | 169.90M |
| Total Interest Income | 4.89B | 4.69B | 4.54B | 4.04B | 2.69B | 1.66B |
| Interest Paid on Deposits | 1.50B | 1.54B | 1.60B | 1.14B | 276.40M | 47.50M |
| Interest Paid on Borrowings | 260.60M | 290.30M | 322.00M | 553.80M | 199.10M | 62.40M |
| Total Interest Expense | 1.76B | 1.83B | 1.92B | 1.70B | 475.50M | 109.90M |
| Net Interest Income | 3.14B | 2.86B | 2.62B | 2.34B | 2.22B | 1.55B |
| Gain (Loss) on Sale of Investments | 99.70M | 42.30M | 24.90M | -156.80M | -21.80M | 7.00M |
| Gain (Loss) on Sale of Equity Investments | 45.20M | 18.10M | 38.20M | 15.70M | 17.80M | 22.10M |
| Other Non-Interest Income | 727.80M | 617.80M | 480.10M | 421.80M | 328.60M | 375.10M |
| Total Non-Interest Income | 872.70M | 678.20M | 543.20M | 280.70M | 324.60M | 404.20M |
| Revenues Before Loan Losses | 4.01B | 3.54B | 3.16B | 2.62B | 2.54B | 1.95B |
| Provision for Loan Losses | 446.60M | 224.10M | 145.90M | 62.60M | 68.10M | -21.40M |
| Revenue | 3.56B | 3.32B | 3.02B | 2.56B | 2.47B | 1.97B |
| Salaries and Employee Benefits | 800.80M | 720.70M | 590.90M | 533.60M | 510.80M | 443.80M |
| Federal Deposit Insurance | 96.20M | 117.50M | 164.80M | 190.40M | 31.10M | 23.00M |
| Selling, General & Administrative | 499.60M | 439.20M | 405.10M | 349.30M | 289.20M | 197.00M |
| Other Non-Interest Expense | 908.40M | 834.30M | 864.20M | 602.80M | 325.60M | 166.40M |
| Total Non-Interest Expense | 2.31B | 2.11B | 2.02B | 1.68B | 1.16B | 830.20M |
| EBT Excluding Unusual Items | 1.26B | 1.21B | 991.20M | 880.90M | 1.32B | 1.14B |
| Other Unusual Items | 52.70M | -5.90M | ||||
| Pretax Income | 1.26B | 1.21B | 991.20M | 933.60M | 1.32B | 1.12B |
| Income Tax Expense | 229.70M | 216.60M | 203.50M | 211.20M | 258.80M | 223.80M |
| Earnings From Continuing Operations | 1.03B | 990.60M | 787.70M | 722.40M | 1.06B | 899.20M |
| Minority Interest in Earnings | -28.40M | -21.60M | ||||
| Net Income | 1.00B | 969.00M | 787.70M | 722.40M | 1.06B | 899.20M |
| Preferred Dividends & Other Adjustments | 12.80M | 12.80M | 12.80M | 12.80M | 12.80M | 3.50M |
| Net Income to Common | 987.20M | 956.20M | 774.90M | 709.60M | 1.04B | 895.70M |
| Basic Shares Outstanding | 107.97M | 108.80M | 108.60M | 108.30M | 107.20M | 102.70M |
| Diluted Shares Outstanding | 108.38M | 109.50M | 109.30M | 108.50M | 107.60M | 103.30M |
| EPS (Basic) | 9.14 | 8.79 | 7.14 | 6.55 | 9.74 | 8.72 |
| EPS (Diluted) | 9.03 | 8.73 | 7.09 | 6.54 | 9.70 | 8.67 |
| Dividend Per Share | 1.68 | 1.56 | 1.49 | 1.45 | 1.42 | 1.20 |
| Effective Tax Rate | 18.26% | 17.94% | 20.53% | 22.62% | 19.66% | 19.93% |
Balance sheet
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Cash & Equivalents | 5.33B | 3.60B | 4.10B | 1.58B | 1.04B | 516.00M |
| Investment Securities | 20.24B | 12.13B | 8.49B | 9.67B | 6.12B | 4.51B |
| Trading Asset Securities | 488.00M | 253.00M | 223.00M | 34.00M | 22.00M | |
| Mortgage-Backed Securities | 8.90B | 7.21B | 3.62B | 3.04B | 3.57B | |
| Total Investments | 20.24B | 21.52B | 15.95B | 13.51B | 9.19B | 8.10B |
| Gross Loans | 61.55B | 58.98B | 53.96B | 50.58B | 52.20B | 39.35B |
| Allowance for Loan Losses | -513.00M | -461.00M | -374.00M | -337.00M | -310.00M | -252.00M |
| Other Adjustments to Gross Loans | -306.00M | -281.00M | -285.00M | -336.00M | -271.00M | |
| Net Loans | 61.04B | 58.22B | 53.30B | 49.96B | 51.55B | 38.82B |
| Property, Plant & Equipment | 592.00M | 573.00M | 489.00M | 484.00M | 439.00M | 315.00M |
| Goodwill | 527.00M | 527.00M | 527.00M | 527.00M | 491.00M | |
| Other Intangible Assets | 642.00M | 122.00M | 132.00M | 142.00M | 153.00M | 144.00M |
| Loans Held for Sale | 3.95B | 3.50B | 2.29B | 1.40B | 1.18B | 5.63B |
| Accrued Interest Receivable | 473.00M | 362.00M | 370.00M | 357.00M | 228.00M | |
| Other Receivables | 22.00M | 37.00M | 41.00M | 39.00M | ||
| Long-Term Deferred Tax Assets | 349.00M | 281.00M | 287.00M | 311.00M | 21.00M | |
| Other Real Estate Owned & Foreclosed | 165.00M | 137.00M | 52.00M | 8.00M | 11.00M | 12.00M |
| Other Long-Term Assets | 6.12B | 3.59B | 3.42B | 2.56B | 2.92B | 1.70B |
| Total Assets | 98.07B | 92.77B | 80.93B | 70.86B | 67.73B | 55.98B |
| Interest Bearing Deposits | 56.00B | 50.53B | 45.85B | 39.34B | 32.85B | 25.74B |
| Institutional Deposits | 2.28B | 1.64B | 1.48B | 1.10B | 523.00M | |
| Non-Interest Bearing Deposits | 25.75B | 24.35B | 18.85B | 14.52B | 19.69B | 21.35B |
| Total Deposits | 81.75B | 77.16B | 66.34B | 55.33B | 53.64B | 47.61B |
| Short-Term Borrowings | 76.00M | 78.00M | 6.81B | 5.01B | 799.00M | |
| Current Portion of Long-Term Debt | 3.80B | 3.10B | ||||
| Current Portion of Leases | 32.00M | |||||
| Accrued Interest Payable | 1.50B | 116.00M | 138.00M | 151.00M | 35.00M | 9.00M |
| Long-Term Debt | 6.67B | 1.38B | 1.24B | 1.26B | 2.12B | 1.59B |
| Federal Home Loan Bank Debt, Long-Term | 1.00B | 2.00B | ||||
| Long-Term Leases | 141.00M | 128.00M | 159.00M | 179.00M | 185.00M | 143.00M |
| Trust Preferred Securities | 86.00M | 79.00M | 77.00M | 76.00M | 81.00M | |
| Other Long-Term Liabilities | 61.60M | 1.05B | 1.09B | 972.00M | 1.30B | 786.00M |
| Total Liabilities | 90.12B | 84.83B | 74.23B | 64.78B | 62.38B | 51.02B |
| Preferred Stock, Non-Redeemable | 295.00M | 295.00M | 295.00M | 295.00M | 295.00M | 295.00M |
| Total Preferred Equity | 295.00M | 295.00M | 295.00M | 295.00M | 295.00M | 295.00M |
| Common Stock | 1.97B | 2.23B | 2.25B | 2.20B | 2.16B | 1.97B |
| Retained Earnings | 6.17B | 5.61B | 4.83B | 4.21B | 3.66B | 2.77B |
| Treasury Stock | -137.00M | -125.00M | -116.00M | -105.00M | -87.00M | |
| Comprehensive Income & Other | -786.00M | -344.00M | -534.00M | -513.00M | -661.00M | 16.00M |
| Total Common Equity | 7.36B | 7.36B | 6.41B | 5.78B | 5.06B | 4.67B |
| Minority Interest | 293.00M | 293.00M | ||||
| Shareholders' Equity | 7.95B | 7.95B | 6.71B | 6.08B | 5.36B | 4.96B |
| Total Liabilities & Equity | 98.07B | 92.77B | 80.93B | 70.86B | 67.73B | 55.98B |
| Total Debt | 6.81B | 6.50B | 6.66B | 8.33B | 7.40B | 2.61B |
| Net Cash (Debt) | -1.48B | -2.42B | -2.31B | -6.53B | -6.32B | -2.08B |
| Net Cash Per Share | -13.65 | -22.10 | -21.13 | -60.18 | -58.76 | -20.09 |
| Filing Date Shares Outstanding | 106.60M | 108.48M | 109.05M | 109.08M | 108.71M | 106.10M |
| Total Common Shares Outstanding | 106.60M | 108.11M | 108.65M | 108.37M | 108.01M | 105.73M |
| Book Value Per Share | 69.03 | 68.06 | 59.01 | 53.37 | 46.85 | 44.15 |
| Tangible Book Value | 6.72B | 6.71B | 5.75B | 5.11B | 4.38B | 4.03B |
| Tangible Book Value Per Share | 63.01 | 62.06 | 52.95 | 47.19 | 40.56 | 38.14 |
Cash flow statement
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Net Income | 990.60M | 787.70M | 722.40M | 1.06B | 899.20M | |
| Depreciation & Amortization | 130.10M | 118.50M | 86.50M | 74.60M | 50.00M | |
| Gain (Loss) on Sale of Investments | -70.30M | -224.70M | -43.20M | 14.30M | 31.40M | |
| Total Asset Writedown | 6.60M | -16.30M | 122.00M | 22.30M | 1.30M | |
| Provision for Credit Losses | 224.10M | 145.90M | 62.60M | 68.10M | -21.40M | |
| Net Decrease (Increase) in Loans Originated / Sold - Operating | -2.36B | -2.92B | -465.00M | 1.80B | -2.74B | |
| Change in Other Net Operating Assets | -279.00M | 264.90M | 114.70M | -38.70M | -157.60M | |
| Other Operating Activities | -1.38B | -941.40M | -962.90M | -796.50M | -747.80M | |
| Operating Cash Flow | -2.68B | -2.74B | -328.60M | 2.25B | -2.65B | |
| Capital Expenditures | -114.30M | -83.80M | -114.30M | -141.00M | -69.40M | |
| Cash Acquisitions | -50.00M | -1.02B | ||||
| Investment in Securities | -5.26B | -2.18B | -3.95B | -2.16B | -2.14B | |
| Purchase / Sale of Intangibles | 644.60M | 908.30M | 798.20M | 391.90M | 1.18B | |
| Net Decrease (Increase) in Loans Originated / Sold - Investing | -5.24B | -3.82B | 1.11B | -11.17B | -12.66B | |
| Other Investing Activities | 18.40M | -798.30M | 700.00K | |||
| Investing Cash Flow | -9.95B | -5.97B | -2.16B | -13.13B | -14.71B | |
| Short-Term Debt Issued | 2.16B | 5.00B | 4.86B | |||
| Long-Term Debt Issued | 7.60B | 3.00B | 9.90M | 578.40M | 1.06B | |
| Total Debt Issued | 9.76B | 3.00B | 5.01B | 5.44B | 1.06B | |
| Short-Term Debt Repaid | -1.56B | -2.68B | -1.74B | |||
| Long-Term Debt Repaid | -8.45B | -1.03B | -818.10M | -30.70M | -475.90M | |
| Total Debt Repaid | -8.45B | -2.59B | -3.50B | -30.70M | -2.22B | |
| Net Debt Issued (Repaid) | 1.31B | 411.90M | 1.51B | 5.41B | -1.16B | |
| Issuance of Common Stock | 100.00K | 100.00K | 157.70M | 540.30M | ||
| Repurchase of Common Stock | -80.00M | -8.70M | -11.00M | -18.50M | -15.80M | |
| Preferred Stock Issued | 294.50M | |||||
| Common Dividends Paid | -172.00M | -164.00M | -158.70M | -153.40M | -124.10M | |
| Preferred Dividends Paid | -12.80M | -12.80M | -12.80M | -12.80M | -3.50M | |
| Total Dividends Paid | -184.80M | -176.80M | -171.50M | -166.20M | -127.60M | |
| Net Increase (Decrease) in Deposit Accounts | 10.81B | 11.00B | 1.69B | 6.03B | 15.68B | |
| Other Financing Activities | 271.70M | |||||
| Financing Cash Flow | 12.13B | 11.23B | 3.02B | 11.41B | 15.21B | |
| Net Cash Flow | -499.70M | 2.52B | 532.70M | 527.00M | -2.16B | |
| Free Cash Flow | -2.79B | -2.83B | -442.90M | 2.10B | -2.72B | |
| Free Cash Flow Margin | -84.16% | -93.69% | -17.32% | 85.10% | -137.94% | |
| Free Cash Flow Per Share | -25.51 | -25.85 | -4.08 | 19.56 | -26.36 | |
| Cash Interest Paid | 1.85B | 1.94B | 1.58B | 452.90M | 111.60M | |
| Cash Income Tax Paid | 31.70M | 1.30M | 63.60M | 197.60M | 175.70M |
Ratios
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Market Capitalization | 8.10B | 9.13B | 9.11B | 7.14B | 6.43B | 11.11B |
| Last Close Price | 76.29 | 82.79 | 80.73 | 62.26 | 54.56 | 96.88 |
| PE Ratio | 8.45 | 9.55 | 11.76 | 10.07 | 6.16 | 12.41 |
| PS Ratio | 2.27 | 2.75 | 3.02 | 2.79 | 2.60 | 5.63 |
| PB Ratio | 1.11 | 1.15 | 1.36 | 1.18 | 1.20 | 2.24 |
| P/FCF Ratio | 3.06 | |||||
| P/OCF Ratio | 2.87 | |||||
| Debt / Equity Ratio | 0.86 | 0.82 | 0.99 | 1.37 | 1.38 | 0.53 |
| Debt / FCF Ratio | 3.52 | |||||
| Net Debt / Equity Ratio | 0.19 | 0.30 | 0.34 | 1.07 | 1.18 | 0.42 |
| Net Debt / FCF Ratio | -0.87 | -0.82 | -14.74 | 3.00 | -0.76 | |
| Return on Equity (ROE) | 13.15% | 13.52% | 12.32% | 12.64% | 20.49% | 21.47% |
| Return on Assets (ROA) | 1.09% | 1.14% | 1.04% | 1.04% | 1.71% | 1.94% |
| Earnings Yield | 11.83% | 10.61% | 8.64% | 10.11% | 16.43% | 8.09% |
| FCF Yield | -20.38% | -30.58% | -31.01% | -6.20% | 32.71% | -24.50% |
| Dividend Yield | 2.20% | 1.85% | 1.78% | 2.20% | 2.38% | 1.14% |
| Payout Ratio | 18.62% | 19.07% | 22.45% | 23.74% | 15.72% | 14.19% |
| Buyback Yield / Dilution | 1.12% | -0.18% | -0.74% | -0.84% | -4.16% | -2.79% |
| Total Shareholder Return | 3.32% | 1.66% | 1.04% | 1.36% | -1.78% | -1.64% |