Western Alliance Bancorporation (NYSE:WAL) Q4 2023 Earnings Conference Call January 26, 2024 12:00 PM ET Company Participants Miles Pondelik - Director of Investor Relations and Corporate Development Ken Vecchione - President and Chief Executive Officer Dale Gibbons - Chief Financial Officer Tim Bruckner - Chief Banking Officer Conference Call Participants Casey Haire - Jefferies Steven Alexopoulos - J.P. Morgan Ebrahim Poonawala - Bank of America Matthew Clark - Piper Sandler Chris McGratty - KBW Bernard v ...

For the quarter ended December 2023, Western Alliance (WAL) reported revenue of $691.3 million, down 2.7% over the same period last year. EPS came in at $1.91, compared to $2.67 in the year-ago quarter.The reported revenue represents a surprise of -2.08% over the Zacks Consensus Estimate of $705.97 million. With the consensus EPS estimate being $1.93, the EPS surprise was -1.04%.While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall Street expectations to deter ...

Western Alliance (WAL) came out with quarterly earnings of $1.91 per share, missing the Zacks Consensus Estimate of $1.93 per share. This compares to earnings of $2.67 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of -1.04%. A quarter ago, it was expected that this bank holding company would post earnings of $1.91 per share when it actually produced earnings of $1.97, delivering a surprise of 3.14%.Over the last four quarters, ...

The upcoming report from Western Alliance (WAL) is expected to reveal quarterly earnings of $1.93 per share, indicating a decline of 27.7% compared to the year-ago period. Analysts forecast revenues of $705.97 million, representing a decrease of 0.6% year over year.Over the last 30 days, there has been a downward revision of 0.9% in the consensus EPS estimate for the quarter, leading to its current level. This signifies the covering analysts' collective reconsideration of their initial forecasts over the co ...

PHOENIX--(BUSINESS WIRE)--Western Alliance Bancorporation (NYSE: WAL) announced today that it plans to release its fourth quarter and full year 2023 financial results after the market closes on Thursday, January 25, 2024. Ken Vecchione, President and CEO, and Dale Gibbons, Vice Chairman and CFO, will host a conference call at 12:00 p.m. ET on Friday, January 26, 2024 to discuss the Company's performance. Participants may access the call by dialing 1-833-470-1428 using the access code 941447 or via live aud ...

PHOENIX--(BUSINESS WIRE)--Western Alliance Bank today announced that Lynne Biggio Herndon has been appointed as the Bank’s new Chief Credit Officer. “We are excited to welcome Lynne to the Western Alliance team,” said Ken Vecchione, president and chief executive officer of Western Alliance Bank. “Her decades of experience managing complex credits and implementing sound risk management practices will complement our already strong credit function and ensure that we maintain our industry leading asset quali ...

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q Mark One) ☒ Quarterly Report Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 For the quarterly period ended September 30, 2023 or ☐ 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 c ...

Financial Data and Key Metrics Changes - The company reported a net income of $217 million and earnings per share (EPS) of $1.97 for Q3 2023, with pre-provision net revenue of $290 million [25][31] - The CET1 capital ratio increased from 8.7% a year ago to 10.6% [22] - The HFI loan-to-deposit ratio improved from 94% to 91% [22] - Total deposits grew by $3.2 billion to $54 billion at quarter-end, with a 27 basis point increase in deposit costs [23][28] - Net interest income rose by $37 million to $587 million due to favorable repricing of earning assets [25] Business Line Data and Key Metrics Changes - Mortgage banking revenue declined by $7 million to $79 million, impacted by rising mortgage rates and a 5% decrease in lot volume [25] - Organic held for investment loans grew by $240 million, primarily from C&I and mortgage warehouse financing [51] - The securities portfolio increased by $1 billion to $11.4 billion, with a yield on total investments expanding by 15 basis points to 4.91% [52] Market Data and Key Metrics Changes - The company experienced a 5% quarter-over-quarter decline in mortgage banking revenue due to rising rates [25] - Non-interest-bearing DDA comprised a third of total deposits, with approximately 40% having no cash payment or earnings credits [28] Company Strategy and Development Direction - The company aims to stabilize and grow deposits while optimizing its liability structure by paying down borrowings [45][46] - The strategy includes enhancing liquidity and deposit granularity to withstand market disruptions [45] - The company plans to complete the optimization of its funding structure and deploy excess core deposits into loan growth over the next one to two quarters [46] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the stability of the deposit franchise and the ability to navigate a volatile rate environment [46] - The company anticipates net deposit growth will be impacted by seasonal reductions in mortgage warehouse deposits but expects growth in regional divisions and digital channels [35] - Management expects loan and core deposits to be flat to several hundred million dollars higher in Q4 [35] Other Important Information - The company reclassified $1.3 billion of non-AmeriHome held-for-sale loans back to held for investment, indicating a shift in strategy towards generating interest income [50] - The efficiency ratio was reported at 58.8%, with an adjusted efficiency ratio of 50% [54] Q&A Session Summary Question: What is the outlook for loan growth and deposit growth in 2024? - Management indicated that they expect to maintain a $2 billion deposit growth target while potentially increasing loan growth as the loan-to-deposit ratio improves [68][91] Question: How will the company manage expenses moving forward? - Management stated that expenses are expected to remain flat in Q4, with marginal growth in 2024 driven by investments in new products and services [69][92] Question: What is the impact of rate cuts on net interest income and PPNR? - Management noted that a 100 basis point rate cut could lead to a 4% decline in net interest income, but also higher revenue from mortgage operations [148] Question: How is the company addressing the challenges in the mortgage warehouse business? - Management acknowledged that the mortgage warehouse business is subject to seasonal volatility, which could impact deposit levels in Q4 [142]

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q 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, 2023 or ☐ 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 Delaware 88-0365922 (State or other jurisdiction of incorporation or organization) ( ...

This presentation 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. The forward-looking statements contained herein reflect our cu ...