Western Alliance CEO says alleged loan fraud is 'incredibly frustrating' but isolated issue

A screen displays that trading is halted for Western Alliance Bancorporation on the floor of the New York Stock Exchange (NYSE), May 4, 2023.Western Alliance, one of the regional banks at the center of concerns over loans made to non-bank financial players, said Wednesday it believes the loan that sparked last week's selloff is an isolated case.The bank reported third-quarter earnings Tuesday afternoon and noted it had set aside $30 million in reserves for possible losses on a $98 million loan made to the C ...