<\/p>\n
Western Alliance Bancorporation Reports First Quarter 2021 Financial Results<\/b><\/p>\n
PHOENIX–(BUSINESS WIRE<\/a>)–
\nWestern Alliance Bancorporation (NYSE:WAL):\n<\/p>\n
| \n FIRST QUARTER 2021 FINANCIAL RESULTS<\/b><\/p>\n<\/td>\n<\/tr>\n Net income<\/b><\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n Earnings per share<\/b><\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n PPNR1<\/sup><\/span><\/b><\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n Net interest margin<\/b><\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n Efficiency ratio1<\/sup><\/span><\/b><\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n Book value per $192.5 million<\/b><\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n $1.90<\/b><\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n $202.0 million<\/b><\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n 3.37%<\/b><\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n 39.1%<\/b><\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n $35.89<\/b><\/p>\n<\/td>\n<\/tr>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n $33.02<\/b>1<\/sup>, excluding \nCEO COMMENTARY:\n<\/p>\n<\/td>\n<\/tr>\n<\/table>\n \n\u201cThe continued emphasis on Western Alliance’s growing national commercial business strategy drove key financial performance results and balance sheet growth to quarterly record highs to kick off 2021,\u201d said Kenneth A. Vecchione, President and Chief Executive Officer. \u201cBalance sheet growth continued with loans up $1.7 billion (24.9% annualized), and deposits up $6.5 billion (82.1% annualized), bringing total assets to $43.4 billion at quarter end, an increase of $6.9 billion from year end, further positioning us for swift deployment of excess liquidity to our commercial and consumer-related businesses. Net income of $192.5 million, earnings per share of $1.90 and return on tangible common equity1<\/sup> of 24.2% for the first quarter 2021 mirrors the Company\u2019s strong fourth quarter performance and confirms that the economic recovery has begun. Asset quality remains stable with nonperforming assets to total assets of 0.27% and annualized net charge-offs to average loans outstanding at a modest 0.02% for the quarter. Lastly, we were pleased to complete the AmeriHome acquisition ahead of schedule and welcome their team into the WAL family.\u201d\n<\/p>\n \nAmeriHome Mortgage Company Transaction:\n<\/p>\n<\/td>\n<\/tr>\n<\/table>\n \nOn April 7, 2021, the Company completed its previously announced acquisition of Aris Mortgage Holding Company, LLC, the parent company of AmeriHome Mortgage Company, LLC (“AmeriHome”). Based on AmeriHome’s closing balance sheet and a $275 million premium, total consideration was approximately $1.22 billion. Beginning in the second quarter 2021, the Company’s consolidated financial statements will include the financial results of AmeriHome.\n<\/p>\n \nLINKED-QUARTER BASIS\n<\/p>\n<\/td>\n \nYEAR-OVER-YEAR\n<\/p>\n<\/td>\n<\/tr>\n \nFINANCIAL POSITION RESULTS:\n<\/p>\n<\/td>\n \nLOANS AND ASSET QUALITY:\n<\/p>\n<\/td>\n \nKEY PERFORMANCE METRICS:\n<\/p>\n<\/td>\n 1 <\/sup>See reconciliation of Non-GAAP Financial Measures.<\/p>\n Income Statement<\/b><\/p>\n \nNet interest income was $317.3 million in the first quarter 2021, an increase of $2.5 million from $314.8 million in the fourth quarter 2020, and an increase of $48.3 million, or 18.0%, compared to the first quarter 2020. Continued loan growth, net deferred loan fee accretion on PPP loans (which totaled $11.9 million for the first quarter 2021), and lower interest costs drove the increase in net interest income from the first quarter 2020.\n<\/p>\n \nThe Company recorded a reversal of credit loss provisions totaling $32.4 million in the first quarter 2021, a decrease of $1.8 million from the $34.2 million reversal in the fourth quarter 2020, compared to a provision for credit losses of $51.2 million in the first quarter 2020. The reversal of provisions during the first quarter 2021 is due to continued improvement in economic forecasts relative to December 31, 2020 and concentration of loan growth in portfolio segments with lower expected loss rates. Further, as the Company’s CECL models incorporate historical experience, current conditions, and reasonable and supportable forecasts in measuring expected credit losses, the uncertainty in the overall economy contributed to an overall increased provision for credit losses in the first quarter 2020.\n<\/p>\n \nThe Company\u2019s net interest margin in the first quarter 2021 was 3.37%, a decrease from 3.84% in the fourth quarter 2020 and a decrease from 4.22% in the first quarter 2020. The decrease in net interest margin from the prior period is largely a result of excess liquidity and a shift in loan mix to a higher proportion of residential loans. The decrease in net interest margin from the first quarter 2020 was driven by the lower rate environment, which lowered loan and investment security yields, but also decreased deposit and funding costs.\n<\/p>\n \nNon-interest income was $19.7 million for the first quarter 2021, compared to $23.8 million for the fourth quarter 2020, and $5.1 million for the first quarter 2020. The decrease in non-interest income from the fourth quarter 2020 is primarily the result of a decrease in fair value gains on equity securities as these securities continued to recover losses incurred in the first quarter 2020. The increase in non-interest income from the first quarter 2020 is primarily attributable to a decrease in fair value losses on equity securities and an increase in income from equity investments.\n<\/p>\n \nNet revenue was $337.0 million for the first quarter 2021, a decrease of $1.6 million, compared to $338.6 million for the fourth quarter 2020, and an increase of $62.9 million, or 22.9%, compared to $274.1 million for the first quarter 2020. The increase in net revenue from the first quarter 2020 was driven by an increase in loan interest income generated from loan growth throughout 2020, coupled with a decrease in interest expense on deposits resulting from a lower rate environment.\n<\/p>\n \nNon-interest expense was $135.0 million for the first quarter 2021, compared to $132.2 million for the fourth quarter 2020, and $120.5 million for the first quarter 2020. The Company\u2019s efficiency ratio1<\/sup> was 39.1% for the first quarter 2021, compared to 38.2% in the fourth quarter 2020, and 42.9% for the first quarter 2020. The increase in non-interest expense from the first quarter 2020 primarily relates to an increase in compensation costs.\n<\/p>\n \nIncome tax expense was $41.9 million for the first quarter 2021, compared to $47.0 million for the fourth quarter 2020, and $18.5 million for the first quarter 2020.\n<\/p>\n \nNet income was $192.5 million for the first quarter 2021, a decrease of $1.1 million from $193.6 million for the fourth quarter 2020, and an increase of $108.6 million from $83.9 million for the first quarter 2020. Earnings per share was $1.90 for the first quarter 2021, compared to $1.93 for the fourth quarter 2020, and $0.83 for the first quarter 2020. As discussed above, the increase in net income and earnings per share for the first quarter 2021 compared to the same quarter last year was driven by a release in the provision for credit losses.\n<\/p>\n \nThe Company views its pre-provision net revenue1<\/sup> (“PPNR”) as a key metric for assessing the Company\u2019s earnings power, which it defines as net revenue less non-interest expense. For the first quarter 2021, the Company\u2019s PPNR1<\/sup> was $202.0 million, down $4.4 million from $206.4 million in the fourth quarter 2020, and up $48.4 million from $153.6 million in the first quarter 2020. The increase in PPNR from the first quarter 2020 was driven by an increase in net interest income.\n<\/p>\n \nThe Company had 1,947 full-time equivalent employees and 49 offices at March 31, 2021, compared to 1,915 employees and 49 offices at December 31, 2020, and 1,858 employees and 47 offices at March 31, 2020.\n<\/p>\n 1 <\/sup>See reconciliation of Non-GAAP Financial Measures.\n<\/p>\n Balance Sheet<\/b><\/p>\n \nGross loans totaled $28.7 billion at March 31, 2021, an increase of $1.7 billion from $27.1 billion at December 31, 2020, and an increase of $5.5 billion from $23.2 billion at March 31, 2020. By loan type, the largest increases from the prior quarter include $746 million in commercial and industrial loans, $675 million in residential real estate loans, and $337 million in construction and land development loans. These increases were offset by a decrease in CRE owner occupied loans of $105 million. From March 31, 2020, the largest increases in the loan balance were driven by commercial and industrial loans of $3.8 billion (includes $1.5 billion of PPP loans), residential real estate loans of $869 million, construction and land development loans of $709 million, and CRE non-owner occupied loans of $389 million. These increases were offset by a decrease in CRE owner occupied loans of $237 million. The Company’s allowance for credit losses on loans consists of an allowance for funded loans and an allowance for unfunded loan commitments. At March 31, 2021, the allowance for loan losses to funded loans was 0.86%, compared to 1.03% at December 31, 2020, and 1.02% at March 31, 2020. The allowance for credit losses, which includes the allowance for unfunded loan commitments, to funded loans was 0.97% at March 31, 2021, compared to 1.17% at December 31, 2020, and 1.14% at March 31, 2020.\n<\/p>\n \nDeposits totaled $38.4 billion at March 31, 2021, an increase of $6.5 billion from $31.9 billion at December 31, 2020, and an increase of $13.6 billion from $24.8 billion at March 31, 2020. By deposit type, the largest increases from the prior quarter include $4.1 billion from non-interest bearing demand deposits and $2.9 billion from savings and money market accounts. These increases were offset by a decrease in interest bearing demand deposits of $503 million. From March 31, 2020, deposits increased across most deposit types, with increases in non-interest bearing demand deposits of $7.7 billion, savings and money market accounts of $6.3 billion, and interest-bearing demand deposits of $315 million. These increases were partially offset by a decrease in certificates of deposit of $706 million. Non-interest bearing deposits were $17.5 billion at March 31, 2021, compared to $13.5 billion at December 31, 2020, and $9.9 billion at March 31, 2020.\n<\/p>\n \nThe table below shows the Company’s deposit types as a percentage of total deposits:\n<\/p>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n Mar 31, 2021<\/b><\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n Dec 31, 2020<\/b><\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n Mar 31, 2020<\/b><\/p>\n<\/td>\n<\/tr>\n \nNon-interest bearing\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n45.7\n<\/p>\n<\/td>\n \n%\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n42.1\n<\/p>\n<\/td>\n \n%\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n39.8\n<\/p>\n<\/td>\n \n%\n<\/p>\n<\/td>\n<\/tr>\n \nSavings and money market\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n39.8\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n38.9\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n36.2\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n \nInterest-bearing demand\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n10.1\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n13.8\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n14.4\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n \nCertificates of deposit\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n4.4\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n5.2\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n9.6\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n<\/table>\n \nThe Company\u2019s ratio of loans to deposits was 74.8% at March 31, 2021, compared to 84.7% at December 31, 2020, and 93.3% at March 31, 2020.\n<\/p>\n \nBorrowings were $5 million at March 31, 2021 and December 31, 2020, and $308 million at March 31, 2020. The decrease in borrowings from March 31, 2020 is due to a decrease in federal funds purchased.\n<\/p>\n \nQualifying debt totaled $544 million at March 31, 2021, compared to $549 million at December 31, 2020, and $390 million at March 31, 2020. The increase in qualifying debt from March 31, 2020 is primarily due to the issuance of $225 million in subordinated debt in May 2020, partially offset by redemption of $75 million in subordinated debt in October 2020.\n<\/p>\n \nStockholders\u2019 equity was $3.7 billion at March 31, 2021, compared to $3.4 billion at December 31, 2020, and $3.0 billion at March 31, 2020. The increase in stockholders’ equity from December 31, 2020 is attributable to net proceeds from sale of the Company’s common stock in a registered direct offering and net income, partially offset by decreases in AOCI resulting from an increase in unrealized losses on investment securities and dividends to shareholders. During the quarter, the Company sold 2.3 million shares of its common stock for a purchase price of $91.00 per share, with aggregate net proceeds totaling $209.2 million. In addition, a cash dividend of $0.25 per share was paid to shareholders on March 5, 2021, totaling $25.3 million. The increase in stockholders’ equity from March 31, 2020 is primarily a function of net income and the sale of 2.3 million shares of common stock, partially offset by share repurchases and dividends to shareholders.\n<\/p>\n \nAt March 31, 2021, tangible common equity, net of tax, was 7.9% of tangible assets1<\/sup> and total capital was 12.6% of risk-weighted assets. The Company\u2019s tangible book value per share1<\/sup> was $33.02 at March 31, 2021, up 23.5% from March 31, 2020.\n<\/p>\n \nTotal assets increased 19.0% to $43.4 billion at March 31, 2021, from $36.5 billion at December 31, 2020, and increased 48.8% from $29.2 billion at March 31, 2020. The increase in total assets from the prior quarter and prior year was driven by organic loan and deposit growth.\n<\/p>\n Asset Quality<\/b><\/p>\n \nRecovery of credit provisions totaled $(32.4) million for the first quarter 2021, compared to $(34.2) million for the fourth quarter 2020, and provision for credit losses of $51.2 million for the first quarter 2020. Net loan charge-offs (recoveries) in the first quarter 2021 were $1.4 million, or 0.02% of average loans (annualized), compared to $3.9 million, or 0.06%, in the fourth quarter 2020, and $(3.2) million, or (0.06)%, in the first quarter 2020.\n<\/p>\n \nNonaccrual loans decreased $1.6 million to $113.6 million during the quarter and increased $27.0 million from March 31, 2020. Loans past due 90 days and still accruing interest were zero at March 31, 2021, December 31, 2020, and March 31, 2020. Loans past due 30-89 days and still accruing interest totaled $7.3 million at March 31, 2021, a decrease from $11.2 million at December 31, 2020, and from $38.5 million at March 31, 2020.\n<\/p>\n \nRepossessed assets totaled $4.2 million at March 31, 2021, an increase of $2.8 million from $1.4 million at December 31, 2020, and a decrease of $6.4 million from $10.6 million at March 31, 2020. Classified assets totaled $280.9 million at March 31, 2021, an increase of $57.2 million from $223.7 million at December 31, 2020, and an increase of $33.8 million from $247.1 million at March 31, 2020.\n<\/p>\n \nThe ratio of classified assets to Tier 1 capital plus the allowance for credit losses, a common regulatory measure of asset quality, was 7.5% at March 31, 2021, compared to 6.5% at December 31, 2020, and 8.2% at March 31, 2020.\n<\/p>\n 1<\/sup> See reconciliation of Non-GAAP Financial Measures.\n<\/p>\n Segment Highlights<\/b><\/p>\n \nThe Company’s reportable segments are aggregated with a focus on products and services offered and consist of three reportable segments:\n<\/p>\n \n\u2013\n<\/p>\n<\/td>\n \nCommercial segment: provides commercial banking and treasury management products and services to small and middle\u2013market businesses, specialized banking services to sophisticated commercial institutions and investors within niche industries, as well as financial services to the real estate industry.\n<\/p>\n<\/td>\n<\/tr>\n \n\u2013\n<\/p>\n<\/td>\n \nConsumer Related segment: offers both commercial banking services to enterprises in consumer\u2013related sectors and consumer banking services, such as residential mortgage banking.\n<\/p>\n<\/td>\n<\/tr>\n \n\u2013\n<\/p>\n<\/td>\n \nCorporate & Other segment: consists of the Company’s investment portfolio, Corporate borrowings and other related items, income and expense items not allocated to our other reportable segments, and inter\u2013segment eliminations.\n<\/p>\n<\/td>\n<\/tr>\n<\/table>\n \nKey management metrics for evaluating the performance of the Company’s Commercial and Consumer Related segments include loan and deposit growth, asset quality, and pre-tax income.\n<\/p>\n \nThe Commercial segment reported a gross loan balance of $20.7 billion at March 31, 2021, an increase of $415 million during the quarter, and an increase of $2.6 billion during the last twelve months. Deposits for the Commercial segment totaled $24.1 billion at March 31, 2021, an increase of $2.7 billion during the quarter, and an increase of $6.6 billion during the last twelve months.\n<\/p>\n \nPre-tax income for the Commercial segment was $220.9 million for the three months ended March 31, 2021, a decrease of $25.3 million from the three months ended December 31, 2020, and an increase of $111.3 million from the three months ended March 31, 2020.\n<\/p>\n \nThe Consumer Related segment reported a gross loan balance of $8.0 billion at March 31, 2021, an increase of $1.3 billion during the quarter, and an increase of $3.0 billion during the last twelve months. Deposits for the Consumer Related segment totaled $13.3 billion, an increase of $3.3 billion during the quarter, and an increase of $6.8 billion during the last twelve months.\n<\/p>\n \nPre-tax income for the Consumer Related segment was $71.5 million for the three months ended March 31, 2021, an increase of $4.3 million from the three months ended December 31, 2020, and an increase of $44.2 million from the three months ended March 31, 2020.\n<\/p>\n Conference Call and Webcast<\/b><\/p>\n \nWestern Alliance Bancorporation will host a conference call and live webcast to discuss its first quarter 2021 financial results at 12:00 p.m. ET on Friday, April 16, 2021. Participants may access the call by dialing 1-833-236-2753 and using the conference ID 9757965 or via live audio webcast using the website link https:\/\/event.on24.com\/wcc\/r\/3096269\/47CDE2218B3FCBF6DF31771E7BCCA293<\/a>. The webcast is also available via the Company\u2019s website at www.westernalliancebancorporation.com<\/a>. Participants should log in at least 15 minutes early to receive instructions. The call will be recorded and made available for replay after 3:00 p.m. ET April 16th through 11:00 p.m. ET May 16th by dialing 1-800-585-8367, conference ID: 9757965.\n<\/p>\n Reclassifications<\/b><\/p>\n \nCertain amounts in the Consolidated Income Statements for the prior periods have been reclassified to conform to the current presentation. The reclassifications have no effect on net income or stockholders\u2019 equity as previously reported.\n<\/p>\n Use of Non-GAAP Financial Information<\/b><\/p>\n \nThis press release contains both financial measures based on GAAP and non-GAAP based financial measures, which are used where management believes them to be helpful in understanding the Company\u2019s results of operations or financial position. Where non-GAAP financial measures are used, the comparable GAAP financial measure, as well as the reconciliation to the comparable GAAP financial measure, can be found in this press release. These disclosures should not be viewed as a substitute for operating results determined in accordance with GAAP, nor are they necessarily comparable to non-GAAP performance measures that may be presented by other companies.\n<\/p>\n Cautionary Note Regarding Forward-Looking Statements<\/b><\/p>\n \nThis release contains forward-looking statements that relate to expectations, beliefs, projections, future plans and strategies, anticipated events or trends and similar expressions concerning matters that are not historical facts. Examples of forward-looking statements include, among others, statements we make regarding our expectations with regard to our business, financial and operating results, future economic performance and dividends, and the impact of the COVID-19 pandemic and related economic conditions. The forward-looking statements contained herein reflect our current views about future events and financial performance and are subject to risks, uncertainties, assumptions and changes in circumstances that may cause our actual results to differ significantly from historical results and those expressed in any forward-looking statement. Some factors that could cause actual results to differ materially from historical or expected results include, among others: the risk factors discussed in the Company\u2019s Annual Report on Form 10-K for the year ended December 31, 2020 as filed with the Securities and Exchange Commission; the potential adverse effects of the ongoing COVID-19 pandemic and any governmental or societal responses thereto, including the distribution and effectiveness of COVID-19 vaccines, or other unusual and infrequently occurring events; changes in general economic conditions, either nationally or locally in the areas in which we conduct or will conduct our business; inflation, interest rate, market and monetary fluctuations; our ability to successfully integrate and operate AmeriHome; increases in competitive pressures among financial institutions and businesses offering similar products and services; higher defaults on our loan portfolio than we expect; changes in management\u2019s estimate of the adequacy of the allowance for credit losses; legislative or regulatory changes including in response to the COVID-19 pandemic such as the Coronavirus Aid, Relief and Economic Security Act of 2020 and the rules and regulations that may be promulgated thereunder; or changes in accounting principles, policies or guidelines; supervisory actions by regulatory agencies which may limit our ability to pursue certain growth opportunities, including expansion through acquisitions; additional regulatory requirements resulting from our continued growth; management\u2019s estimates and projections of interest rates and interest rate policy; the execution of our business plan; and other factors affecting the financial services industry generally or the banking industry in particular.\n<\/p>\n \nAny forward-looking statement made by us in this release is based only on information currently available to us and speaks only as of the date on which it is made. We do not intend and disclaim any duty or obligation to update or revise any industry information or forward-looking statements, whether written or oral, that may be made from time to time, set forth in this press release to reflect new information, future events or otherwise.\n<\/p>\n About Western Alliance Bancorporation<\/b><\/p>\n \nWith more than $40 billion in assets, Western Alliance Bancorporation (NYSE:WAL) is one of the country\u2019s top-performing banking companies. The company is again #1 best-performing of the 50 largest public U.S. banks in the new S&P Global Market Intelligence listing for 2020 and ranks high on the Forbes \u201cBest Banks in America\u201d list year after year. Its primary subsidiary, Western Alliance Bank, Member FDIC, helps business clients realize their ambitions with teams of experienced bankers who deliver superior service and a full spectrum of customized loan, deposit and treasury management capabilities. Business clients also benefit from a powerful array of specialized financial services that provide strong expertise and tailored solutions for a wide variety of industries and sectors. Most recently, the bank added to these capabilities with the acquisition of AmeriHome Mortgage, a leading national business-to-business mortgage platform. Serving clients across the country wherever business happens, Western Alliance Bank operates individual, full-service banking brands and has offices in key markets nationwide. For more information, visit westernalliancebank.com<\/a>.\n<\/p>\n Western Alliance Bancorporation and Subsidiaries<\/b><\/p>\n<\/td>\n<\/tr>\n Summary Consolidated Financial Data<\/b><\/p>\n<\/td>\n<\/tr>\n Unaudited<\/b><\/p>\n<\/td>\n<\/tr>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n Selected Balance Sheet Data:<\/b><\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n As of March 31,<\/b><\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n 2021<\/b><\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n 2020<\/b><\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n Change %<\/b><\/p>\n<\/td>\n<\/tr>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n (in millions)<\/i><\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \nTotal assets\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n$\n<\/p>\n<\/td>\n \n43,397.0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n$\n<\/p>\n<\/td>\n \n29,158.2\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n48.8\n<\/p>\n<\/td>\n \n%\n<\/p>\n<\/td>\n<\/tr>\n \nGross loans, net of deferred fees\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n28,711.0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n23,166.2\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n23.9\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n \nInvestment securities\n<\/p>\n<\/td>\n \n7,888.8\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n4,355.3\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n81.1\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n \nTotal deposits\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n38,393.1\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n24,830.7\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n54.6\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n \nQualifying debt\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n543.7\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n389.9\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n39.4\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n \nStockholders’ equity\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n3,712.7\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n2,999.6\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n23.8\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n \nTangible common equity, net of tax (1)\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n3,416.1\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n2,704.3\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n26.3\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n Selected Income Statement Data:<\/b><\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n For the Three Months Ended March 31,<\/b><\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n 2021<\/b><\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n 2020<\/b><\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n Change %<\/b><\/p>\n<\/td>\n<\/tr>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n (in millions, except per share data)<\/i><\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \nInterest income\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n$\n<\/p>\n<\/td>\n \n334.1\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n$\n<\/p>\n<\/td>\n \n307.2\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n8.8\n<\/p>\n<\/td>\n \n%\n<\/p>\n<\/td>\n<\/tr>\n \nInterest expense\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n16.8\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n38.2\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n(56.0\n<\/p>\n<\/td>\n \n)\n<\/p>\n<\/td>\n<\/tr>\n \nNet interest income\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n317.3\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n269.0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n18.0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n \n(Recovery of) provision for credit losses\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n(32.4\n<\/p>\n<\/td>\n \n)\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n51.2\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \nNM\n<\/p>\n<\/td>\n \nNet interest income after provision for credit losses\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n349.7\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n217.8\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n60.6\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n \nNon-interest income\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n19.7\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n5.1\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \nNM\n<\/p>\n<\/td>\n \nNon-interest expense\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n135.0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n120.5\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n12.0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n \nIncome before income taxes\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n234.4\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n102.4\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \nNM\n<\/p>\n<\/td>\n \nIncome tax expense\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n41.9\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n18.5\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \nNM\n<\/p>\n<\/td>\n \nNet income\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n$\n<\/p>\n<\/td>\n \n192.5\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n$\n<\/p>\n<\/td>\n \n83.9\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \nNM\n<\/p>\n<\/td>\n \nDiluted earnings per share\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n$\n<\/p>\n<\/td>\n \n1.90\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n$\n<\/p>\n<\/td>\n \n0.83\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \nNM\n<\/p>\n<\/td>\n \n(1)\n<\/p>\n<\/td>\n \nSee Reconciliation of Non-GAAP Financial Measures.\n<\/p>\n<\/td>\n<\/tr>\n \nNM\n<\/p>\n<\/td>\n \nChanges +\/- 100% are not meaningful.\n<\/p>\n<\/td>\n<\/tr>\n<\/table>\n Western Alliance Bancorporation and Subsidiaries<\/b><\/p>\n<\/td>\n<\/tr>\n Summary Consolidated Financial Data<\/b><\/p>\n<\/td>\n<\/tr>\n Unaudited<\/b><\/p>\n<\/td>\n<\/tr>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n Common Share Data:<\/b><\/p>\n<\/td>\n<\/tr>\n \n\u00a0\n<\/p>\n<\/td>\n At or For the Three Months Ended March 31,<\/b><\/p>\n<\/td>\n<\/tr>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n 2021<\/b><\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n 2020<\/b><\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n Change %<\/b><\/p>\n<\/td>\n<\/tr>\n \nDiluted earnings per share\n<\/p>\n<\/td>\n \n$\n<\/p>\n<\/td>\n \n1.90\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n$\n<\/p>\n<\/td>\n \n0.83\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \nNM\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n \nBook value per common share\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n35.89\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n29.65\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n21.0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n \nTangible book value per share, net of tax (1)\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n33.02\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n26.73\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n23.5\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n \nAverage shares outstanding\n<\/p>\n \n(in millions):\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n \nBasic\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n100.8\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n101.3\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n(0.5\n<\/p>\n<\/td>\n \n)\n<\/p>\n<\/td>\n<\/tr>\n \nDiluted\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n101.4\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n101.7\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n(0.2\n<\/p>\n<\/td>\n \n)\n<\/p>\n<\/td>\n<\/tr>\n \nCommon shares outstanding\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n103.4\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n101.2\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n2.3\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n Selected Performance Ratios:<\/b><\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n \nReturn on average assets (2)\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n1.93\n<\/p>\n<\/td>\n \n%\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n1.22\n<\/p>\n<\/td>\n \n%\n<\/p>\n<\/td>\n \n58.2\n<\/p>\n<\/td>\n \n%\n<\/p>\n<\/td>\n<\/tr>\n \nReturn on average tangible common equity (1, 2)\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n24.2\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n12.2\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n98.4\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n \nNet interest margin (2)\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n3.37\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n4.22\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n(20.1\n<\/p>\n<\/td>\n \n)\n<\/p>\n<\/td>\n<\/tr>\n \nEfficiency ratio – tax equivalent basis (1)\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n39.1\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n42.9\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n(8.9\n<\/p>\n<\/td>\n \n)\n<\/p>\n<\/td>\n<\/tr>\n \nLoan to deposit ratio\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n74.8\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n93.3\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n(19.8\n<\/p>\n<\/td>\n \n)\n<\/p>\n<\/td>\n<\/tr>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n Asset Quality Ratios:<\/b><\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n \nNet charge-offs (recoveries) to average loans outstanding (2)\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n0.02\n<\/p>\n<\/td>\n \n%\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n(0.06\n<\/p>\n<\/td>\n \n)%\n<\/p>\n<\/td>\n \nNM\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n \nNonaccrual loans to funded loans\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n0.40\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n0.37\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n8.1\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n \nNonaccrual loans and repossessed assets to total assets\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n0.27\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n0.33\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n(18.2\n<\/p>\n<\/td>\n \n)\n<\/p>\n<\/td>\n<\/tr>\n \nAllowance for loan losses to funded loans\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n0.86\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n1.02\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n(15.7\n<\/p>\n<\/td>\n \n)\n<\/p>\n<\/td>\n<\/tr>\n \nAllowance for loan losses to nonaccrual loans\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n218\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n272\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n(19.9\n<\/p>\n<\/td>\n \n)\n<\/p>\n<\/td>\n<\/tr>\n<\/table>\n Capital Ratios:<\/b><\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n Mar 31, 2021<\/b><\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n Dec 31, 2020<\/b><\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n Mar 31, 2020<\/b><\/p>\n<\/td>\n<\/tr>\n \nTangible common equity (1)\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n7.9\n<\/p>\n<\/td>\n \n%\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n8.6\n<\/p>\n<\/td>\n \n%\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n9.4\n<\/p>\n<\/td>\n \n%\n<\/p>\n<\/td>\n<\/tr>\n \nCommon Equity Tier 1 (3)\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n10.3\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n9.9\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n10.0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n \nTier 1 Leverage ratio (3)\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n8.8\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n9.2\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n10.2\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n \nTier 1 Capital (3)\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n10.6\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n10.2\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n10.3\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n \nTotal Capital (3)\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n12.6\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n12.5\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n12.3\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n<\/table>\n \n(1)\n<\/p>\n<\/td>\n \nSee Reconciliation of Non-GAAP Financial Measures.\n<\/p>\n<\/td>\n<\/tr>\n \n(2)\n<\/p>\n<\/td>\n \nAnnualized on an actual\/actual basis for periods less than 12 months.\n<\/p>\n<\/td>\n<\/tr>\n \n(3)\n<\/p>\n<\/td>\n \nCapital ratios for March 31, 2021 are preliminary.\n<\/p>\n<\/td>\n<\/tr>\n \nNM\n<\/p>\n<\/td>\n \nChanges +\/- 100% are not meaningful.\n<\/p>\n<\/td>\n<\/tr>\n<\/table>\n Western Alliance Bancorporation and Subsidiaries<\/b><\/p>\n<\/td>\n<\/tr>\n Condensed Consolidated Income Statements<\/b><\/p>\n<\/td>\n<\/tr>\n Unaudited<\/b><\/p>\n<\/td>\n<\/tr>\n \n\u00a0\n<\/p>\n<\/td>\n Three Months Ended March 31,<\/b><\/p>\n<\/td>\n<\/tr>\n \n\u00a0\n<\/p>\n<\/td>\n 2021<\/b><\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n 2020<\/b><\/p>\n<\/td>\n<\/tr>\n |