Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-K ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2019 ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from ____________ to ____________ Commission file number: 001-32550 WESTERN ALLIANCE BANCORPORATION (Exact name of registrant as specified in its charter) One E. Wa ...

[PART I. FINANCIAL INFORMATION](index=4&type=section&id=PART%20I.%20FINANCIAL%20INFORMATION) [Item 1. Financial Statements](index=4&type=section&id=Item%201.%20Financial%20Statements) This section presents Western Alliance Bancorporation's unaudited consolidated financial statements, including balance sheets, income statements, and cash flows, with detailed notes [Glossary of Entities and Terms](index=4&type=section&id=Glossary%20of%20Entities%20and%20Terms) This section provides a glossary of acronyms and abbreviations for entities, divisions, and financial terms used in the Form 10-Q - The glossary defines key entities like **WAL** and **WAB**, along with their banking divisions[12](index=12&type=chunk) - It also defines important financial and regulatory terms such as **AFS**, **HTM**, **CRE**, and **PPNR**[12](index=12&type=chunk) [Consolidated Balance Sheets](index=5&type=section&id=Consolidated%20Balance%20Sheets) Total assets increased to **$26.3 billion** by September 30, 2019, driven by growth in net loans and deposits, with stockholders' equity rising to **$2.9 billion** Consolidated Balance Sheet Highlights (in thousands) | Account | Sep 30, 2019 (Unaudited) | Dec 31, 2018 | | :--- | :--- | :--- | | **Total Assets** | **$26,324,245** | **$23,109,486** | | Net Loans Held for Investment | $19,966,037 | $17,557,912 | | Total Deposits | $22,440,814 | $19,177,447 | | **Total Liabilities** | **$23,401,182** | **$20,495,752** | | **Total Stockholders' Equity** | **$2,923,063** | **$2,613,734** | [Consolidated Income Statements](index=7&type=section&id=Consolidated%20Income%20Statements) Net income for Q3 2019 increased to **$127.4 million**, driven by higher net interest income, with diluted EPS reaching **$1.24** Key Income Statement Data (in thousands, except per share amounts) | Metric | Q3 2019 | Q3 2018 | Nine Months 2019 | Nine Months 2018 | | :--- | :--- | :--- | :--- | :--- | | Net Interest Income | $266,422 | $234,038 | $768,439 | $672,366 | | Provision for Credit Losses | $4,000 | $6,000 | $14,500 | $17,000 | | **Net Income** | **$127,375** | **$111,123** | **$371,107** | **$316,702** | | Diluted EPS | $1.24 | $1.05 | $3.59 | $3.00 | [Consolidated Statements of Comprehensive Income](index=9&type=section&id=Consolidated%20Statements%20of%20Comprehensive%20Income) Comprehensive income for Q3 2019 significantly increased to **$136.6 million**, primarily due to a positive swing in unrealized gains on AFS securities Comprehensive Income Summary (in thousands) | Component | Q3 2019 | Q3 2018 | Nine Months 2019 | Nine Months 2018 | | :--- | :--- | :--- | :--- | :--- | | Net Income | $127,375 | $111,123 | $371,107 | $316,702 | | Net Other Comprehensive Income (Loss) | $9,218 | $(19,048) | $69,221 | $(66,160) | | **Comprehensive Income** | **$136,593** | **$92,075** | **$440,328** | **$250,542** | [Consolidated Statements of Stockholders' Equity](index=10&type=section&id=Consolidated%20Statements%20of%20Stockholders%27%20Equity) Total stockholders' equity grew to **$2.92 billion**, driven by net income and other comprehensive income, partially offset by stock repurchases and dividends - For the nine months ended Sep 30, 2019, the company repurchased **2,734 thousand shares** totaling **$115.6 million**[24](index=24&type=chunk) - Dividends of **$25.7 million** were paid during the nine months ended Sep 30, 2019[24](index=24&type=chunk) [Consolidated Statements of Cash Flows](index=12&type=section&id=Consolidated%20Statements%20of%20Cash%20Flows) Net cash from operating activities was **$534.5 million**, while investing activities used **$2.78 billion**, resulting in a **$373.5 million** net increase in cash Cash Flow Summary - Nine Months Ended Sep 30 (in thousands) | Activity | 2019 | 2018 | | :--- | :--- | :--- | | Net Cash from Operating Activities | $534,505 | $396,280 | | Net Cash used in Investing Activities | $(2,775,174) | $(1,642,157) | | Net Cash from Financing Activities | $2,614,156 | $1,529,673 | | **Net Increase in Cash** | **$373,487** | **$283,796** | [Notes to Unaudited Consolidated Financial Statements](index=15&type=section&id=Notes%20to%20Unaudited%20Consolidated%20Financial%20Statements) This section provides detailed explanations of accounting policies and financial data, covering investment securities, loans, credit losses, and segment reporting [Item 2. Management's Discussion and Analysis of Financial Condition and Results of Operations](index=70&type=section&id=Item%202.%20Management%27s%20Discussion%20and%20Analysis%20of%20Financial%20Condition%20and%20Results%20of%20Operations) Management discusses Q3 2019 financial performance, highlighting strong loan and deposit growth, net interest income increase, asset quality, capital adequacy, and liquidity management [Financial Overview and Highlights](index=70&type=section&id=Financial%20Overview%20and%20Highlights) Q3 2019 showed strong financial performance with **$127.4 million** net income, **$2.4 billion** loan growth, and **$3.3 billion** deposit growth - Net income for Q3 2019 was **$127.4 million**, with diluted EPS of **$1.24**[285](index=285&type=chunk) - Total loans grew to **$20.2 billion**, an increase of **$2.4 billion** from December 31, 2018[285](index=285&type=chunk) - Total deposits reached **$22.4 billion**, an increase of **$3.3 billion** from December 31, 2018[285](index=285&type=chunk) [Results of Operations](index=73&type=section&id=Results%20of%20Operations) Net interest income increased by **13.8%** to **$266.4 million**, while net interest margin compressed, and non-interest income and expenses both rose - Q3 2019 net interest income increased by **$32.4 million (13.8%)** year-over-year, while net interest margin decreased by **27 basis points** to **4.41%**[316](index=316&type=chunk) - The provision for credit losses was **$4.0 million** for Q3 2019, a decrease from **$6.0 million** in Q3 2018[318](index=318&type=chunk) - Non-interest income increased by **$15.0 million** year-over-year, primarily due to a **$10.4 million** positive swing from investment security sales[320](index=320&type=chunk) - Non-interest expense increased by **$12.1 million (10.6%)** year-over-year, driven by higher deposit costs and salaries[323](index=323&type=chunk) [Balance Sheet Analysis](index=88&type=section&id=Balance%20Sheet%20Analysis) Total assets grew to **$26.3 billion**, a **13.9%** increase, fueled by **$2.4 billion** in loan growth and **$3.3 billion** in deposit growth - Total assets increased by **$3.2 billion (13.9%)** since December 31, 2018, primarily due to a **$2.4 billion (13.8%)** increase in loans[329](index=329&type=chunk) - Total deposits grew by **$3.3 billion (17.0%)** since December 31, 2018, with significant increases in savings/money market and non-interest bearing deposits[354](index=354&type=chunk) - Total non-performing loans increased to **$95.3 million (0.25% of gross loans)** from **$64.8 million (0.16% of gross loans)** at year-end 2018[340](index=340&type=chunk)[341](index=341&type=chunk) [Capital Resources](index=96&type=section&id=Capital%20Resources) The company and its banking subsidiary remained well-capitalized, with a Common Equity Tier 1 ratio of **10.3%** and Total Capital ratio of **12.6%** Regulatory Capital Ratios | Ratio | Sep 30, 2019 | Dec 31, 2018 | Well-Capitalized Minimum | | :--- | :--- | :--- | :--- | | Common Equity Tier 1 | 10.3% | 10.7% | 6.5% | | Tier 1 Capital | 10.6% | 11.1% | 8.0% | | Total Capital | 12.6% | 13.2% | 10.0% | | Tier 1 Leverage | 10.4% | 10.9% | 5.0% | [Liquidity](index=97&type=section&id=Liquidity) The company maintained a strong liquidity position with **$3.4 billion** in liquid assets and significant borrowing capacity from FHLB and FRB - Liquid assets totaled **$3.4 billion** at September 30, 2019, including **$872.1 million** in cash and **$2.6 billion** in unpledged securities[365](index=365&type=chunk) - Available borrowing capacity includes **$4.0 billion** from the FHLB and **$1.4 billion** from the FRB[365](index=365&type=chunk) - The Parent company is assessed to have adequate liquidity to operate for over twelve months without new funding sources[366](index=366&type=chunk) [Item 3. Quantitative and Qualitative Disclosures About Market Risk](index=99&type=section&id=Item%203.%20Quantitative%20and%20Qualitative%20Disclosures%20About%20Market%20Risk) The company manages interest rate risk using simulation models, projecting NII to increase by **7.0%** and EVE to decrease by **0.5%** under a +100 bps rate shock Sensitivity of Net Interest Income (12-Month Parallel Shift) | Rate Scenario | % Change in NII | | :--- | :--- | | Down 100 bps | (4.8)% | | Up 100 bps | 7.0% | | Up 200 bps | 14.5% | Sensitivity of Economic Value of Equity | Rate Scenario | % Change in EVE | | :--- | :--- | | Down 100 bps | (1.2)% | | Up 100 bps | (0.5)% | | Up 200 bps | (2.3)% | [Item 4. Controls and Procedures](index=102&type=section&id=Item%204.%20Controls%20and%20Procedures) The CEO and CFO concluded that disclosure controls and procedures are effective, with no material changes to internal control over financial reporting - The CEO and CFO concluded that disclosure controls and procedures were effective as of the end of the reporting period[387](index=387&type=chunk) - No material changes to internal control over financial reporting occurred during the quarter ended September 30, 2019[388](index=388&type=chunk) [PART II. OTHER INFORMATION](index=102&type=section&id=PART%20II.%20OTHER%20INFORMATION) [Item 1. Legal Proceedings](index=102&type=section&id=Item%201.%20Legal%20Proceedings) The company reports no material pending legal proceedings, with any ongoing litigation considered routine business - There are no material pending legal proceedings against the company[389](index=389&type=chunk) [Item 1A. Risk Factors](index=102&type=section&id=Item%201A.%20Risk%20Factors) No material changes to risk factors were reported since the company's Annual Report on Form 10-K for 2018 - No material changes to risk factors were reported since the last Annual Report on Form 10-K[390](index=390&type=chunk) [Item 2. Unregistered Sales of Equity Securities and Use of Proceeds](index=102&type=section&id=Item%202.%20Unregistered%20Sales%20of%20Equity%20Securities%20and%20Use%20of%20Proceeds) During Q3 2019, the company repurchased **1,000,000 shares** for **$43.63** per share, with **$98.9 million** remaining for repurchase Issuer Purchases of Equity Securities (Q3 2019) | Period | Total Shares Purchased | Average Price Paid Per Share | Shares Purchased Under Program | | :--- | :--- | :--- | :--- | | Jul 2019 | 13,941 | $45.77 | 0 | | Aug 2019 | 1,000,000 | $43.63 | 1,000,000 | | Sep 2019 | 18,436 | $46.76 | 0 | | **Total** | **1,032,377** | **$43.71** | **1,000,000** | - The company has a **$250 million** stock repurchase program expiring December 31, 2019, with approximately **$98.9 million** remaining available for repurchase[391](index=391&type=chunk)[392](index=392&type=chunk) [Item 5. Other Information](index=102&type=section&id=Item%205.%20Other%20Information) This item is not applicable for the reporting period - Not applicable[393](index=393&type=chunk) [Item 6. Exhibits](index=103&type=section&id=Item%206.%20Exhibits) This section lists exhibits filed with the Form 10-Q, including CEO and CFO certifications and Interactive Data Files - Exhibits filed include CEO and CFO certifications pursuant to Rule 13a-14(a)/15d-14(a) and Section 906 of the Sarbanes-Oxley Act[395](index=395&type=chunk)

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q (I.R.S. Employer Identification No.) One E. Washington Street, Suite 1400 Phoenix Arizona 85004 (Address of principal executive offices) (Zip Code) (602) 389-3500 (Mark One) ☒ Quarterly Report Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 For the quarterly period ended June 30, 2019 or ☐ Transition Report Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 For the t ...

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q (Mark One) ý Quarterly Report Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 For the quarterly period ended March 31, 2019 or o Transition Report Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 For the transition period from__________ to __________ Commission file number: 001-32550 WESTERN ALLIANCE BANCORPORATION (Exact name of registrant as specified in its char ...

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-K ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2018 Commission file number: 001-32550 WESTERN ALLIANCE BANCORPORATION (Exact name of registrant as specified in its charter) Delaware 88-0365922 (State or other jurisdiction of incorporation or organization) One E. Washington Street Suite 1400, Phoenix, AZ 85004 (Address of principal ex ...