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 ...

Western Alliance Bancorporation (NYSE:WAL) Q2 2023 Earnings Conference Call July 19, 2023 12:00 PM ET Company Participants Miles Pondelik - Director, Investor Relations and Corporate Development Ken Vecchione - President and CEO Dale Gibbons - Chief Financial Officer Tim Bruckner - Chief Credit Officer Conference Call Participants Ben Gerlinger - Hovde Group Casey Haire - Jefferies Bernard von-Gizycki - Deutsche Bank Steven Alexopoulos - JPMorgan Chris McGratty - KBW David Chiaverini - Wedbush Timur Brazile ...

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 March 31, 2023 or Securities registered pursuant to Section 12(b) of the Act: ☐ 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 BANCOR ...

Western Alliance Bancorporation (NYSE:WAL) Q1 2023 Earnings Conference Call April 19, 2023 12:00 PM ET Company Participants Miles Pondelik - Director, IR and Corporate Development Ken Vecchione - President and CEO Dale Gibbons - CFO Tim Bruckner - CCO Conference Call Participants Steven Alexopoulos - JPMorgan Ebrahim Poonawala - Bank of America Merrill Lynch Casey Haire - Jefferies Brad Milsaps - Piper Sandler Timur Braziler - Wells Fargo Ben Gerlinger - Hovde Group Brandon King - Truist Gary Tenner - D.A. ...

Deposit Base and Liquidity - Deposits stabilized at approximately $47 billion by March 20, with net growth of around $900 million by quarter-end[4] - Deposits increased by $2.9 billion since March 20, reaching $49.6 billion by April 14[5] - Insured deposits are approximately 73% of total deposits as of April 14[6] - Uninsured deposit liquidity coverage is 158% as of April 14[6] - Total available liquidity is $33.6 billion as of April 14, including $1.9 billion in on-balance sheet cash and $24.7 billion in unused borrowing capacity[13] Capital and Balance Sheet - CET1 ratio was 9.4% in Q1 2023[14] - Balance sheet repositioning included $1.74 billion in asset sales completed in Q1 2023[9] - Reclassified $6.0 billion of HFI loans to HFS at an average mark of approximately 2%[9] - Contracted to sell $3.0 billion of loans in Q2 2023, expected to increase CET1 to 9.89%[9, 11] - Target CET1 ratio to exceed 10% by Q2 2023[8, 11] Financial Performance - Net income was $142.2 million, or $251.9 million adjusted, in Q1 2023[14, 16] - Net revenue was $551.9 million, or $712.2 million adjusted, in Q1 2023[14] - Loans decreased by $5.4 billion quarter-over-quarter, reaching $46.4 billion[14, 24] - Deposits decreased by $6.1 billion quarter-over-quarter, totaling $47.6 billion[14, 30]

Loan Portfolio - As of December 31, 2022, the Company's Held for Investment (HFI) loan portfolio totaled $51.9 billion, representing approximately 77% of total assets[30] - Commercial and industrial loans accounted for 39.9% of the HFI loan portfolio in 2022, down from 46.8% in 2021[30] - The Company reported a net loan amount of $51.6 billion after accounting for an allowance for credit losses of $310 million as of December 31, 2022[30] - The residential real estate loans increased to $15.9 billion, making up 30.7% of the HFI loan portfolio in 2022, compared to 23.8% in 2021[30] - The Company’s commercial real estate loans for non-owner occupied properties represented 18.0% of the HFI loan portfolio in 2022, up from 16.7% in 2021[30] - The construction and land development loans remained stable at 7.7% of the HFI loan portfolio for both 2022 and 2021[30] - As of December 31, 2022, commercial and industrial loans constituted 40% of the Company's held-for-investment (HFI) loan portfolio, while commercial real estate (CRE) and construction loans represented 29%[51] Financial Performance - Total interest income for 2022 was $2,691.8 million, a 62.1% increase from $1,658.7 million in 2021[370] - Net income for 2022 reached $1,057.3 million, up 17.6% from $899.2 million in 2021[372] - Net interest income after provision for credit losses was $2,148.2 million, compared to $1,570.2 million in 2021, reflecting a 36.7% increase[370] - Total non-interest income decreased to $324.6 million in 2022 from $404.2 million in 2021, a decline of 19.7%[370] - Total non-interest expense rose to $1,156.7 million in 2022, up from $851.4 million in 2021, marking a 36% increase[370] - Basic earnings per share for 2022 was $9.74, compared to $8.72 in 2021, representing an increase of 11.7%[370] - The provision for credit losses was $68.1 million in 2022, compared to a recovery of $(21.4) million in 2021[370] - Comprehensive income for 2022 was $380.6 million, down from $822.6 million in 2021, a decrease of 53.8%[372] Capital and Liquidity - As of December 31, 2022, the Company's total deposits reached $53.644 billion, an increase from $47.612 billion in 2021, with non-interest-bearing deposits comprising 36.7% of the total[48] - The company has $4.3 billion in borrowings from the FHLB of San Francisco as of December 31, 2022, which are crucial for meeting short-term liquidity needs[113] - As of December 31, 2022, the company's CET1 ratio was 9.3%, above the regulatory threshold of 6.5% but below its targeted capital level, indicating a need for potential equity issuance or growth reduction to improve capital ratios[110] Risk Management - The allowance for credit losses (ACL) is maintained at a level adequate to absorb estimated lifetime credit losses inherent in the loan and investment securities portfolios[40] - The Company emphasizes timely identification of troubled credits to allow management to take prompt corrective action when necessary[32] - The company has established a risk management framework to mitigate various risks, but acknowledges that these practices may prove inadequate or ineffective, leading to unexpected losses[125] - The company is exposed to environmental liabilities related to properties securing its loans, which could result in substantial costs[96] - The company is subject to capital adequacy standards and liquidity rules, and failure to meet these could restrict its activities and impact profitability[110] Employee and Diversity Initiatives - The Company employed 3,365 full-time equivalent employees as of December 31, 2022, marking a 7% increase from the previous year[56] - The employee turnover rate decreased from 19% in 2021 to 17% in 2022, with a notable reduction in the residential mortgage banking workforce due to lower production volumes[63] - In 2022, 48% of open positions were filled by external candidates from ethnic minority groups, and 74% of promotions were awarded to ethnically diverse or female employees[61] - The Company has established an executive-led Opportunity Council to enhance diversity, equity, and inclusion (DEI) initiatives, focusing on the career advancement of underrepresented groups[57] - The Company's directors belonging to an ethnic minority group increased from 15% in 2021 to 21% in 2022, reflecting a commitment to diversity in leadership[59] Market and Competitive Environment - The financial services industry remains highly competitive, with significant impacts from federal and state legislation allowing non-bank institutions to compete more effectively[53] - Increased competition in the financial services industry, particularly from non-traditional competitors and financial technology companies, poses a risk to the company's revenue and market position[100] - The company is highly dependent on the real estate market, with a significant portion of its loan portfolio secured by real estate, making it vulnerable to market fluctuations[92] Digital Initiatives and Acquisitions - The Company acquired Digital Settlement Technologies (DST) on January 25, 2022, enhancing its digital payment services for the class action legal industry[18] - The company is investing in digital payments initiatives, including a fully integrated digital banking platform and a digital token powered by the TassatPay platform, but faces uncertainties related to market acceptance and regulatory scrutiny[105] - The company is actively pursuing an expansion strategy through acquisitions, similar to past acquisitions like AmeriHome in 2021 and DST in 2022, but faces significant risks including valuation difficulties and integration challenges[101] Interest Rate Sensitivity - The company's net interest income is sensitive to changes in market interest rates, which can significantly affect revenue and earnings[1] - The company's interest rate risk is actively monitored and managed, with strategies in place to limit exposure to fluctuations within acceptable risk levels[328] - A simulation model indicated that a 100 basis point increase in interest rates would result in a 5.9% increase in net interest income, while a 100 basis point decrease would lead to a 3.0% decrease[336] Regulatory Compliance - Compliance with extensive regulations may increase costs and impact the company's ability to offer competitive products, particularly in the context of evolving consumer protection laws[128] - The company is subject to a 15% book minimum tax on corporations with a three-year average annual adjusted financial statement income exceeding $1 billion, as per the IRA signed into law in August 2022[135] Financial Position - Total assets increased to $67,734 million in 2022, up from $55,983 million in 2021, indicating a growth of approximately 21%[367] - Total liabilities rose to $62,378 million in 2022, compared to $51,020 million in 2021, representing an increase of about 22%[367] - Total stockholders' equity reached $5,356 million as of December 31, 2022, compared to $4,963 million in the previous year, marking an increase of approximately 8%[367]

Western Alliance | Bancorporation® EARNINGS CALL 4th Quarter 2022 JANUARY 25, 2023 Forward-Looking Statements 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 resu ...