v3.25.2
CONSOLIDATED INCOME STATEMENTS - USD ($)
shares in Millions, $ in Millions
3 Months Ended 6 Months Ended
Jun. 30, 2025
Jun. 30, 2024
Jun. 30, 2025
Jun. 30, 2024
Interest income:        
Loans, including fees $ 914.3 $ 896.7 $ 1,795.3 $ 1,768.6
Investment securities 199.7 188.4 365.5 330.8
Dividends and other 40.4 62.4 89.2 103.1
Total interest income 1,154.4 1,147.5 2,250.0 2,202.5
Interest expense:        
Deposits 377.8 410.3 756.1 790.9
Qualifying debt 8.2 9.6 17.5 19.1
Other borrowings 70.8 71.0 128.2 137.0
Total interest expense 456.8 490.9 901.8 947.0
Net interest income 697.6 656.6 1,348.2 1,255.5
Provision for credit losses 39.9 37.1 71.1 52.3
Net interest income after provision for credit losses 657.7 619.5 1,277.1 1,203.2
Non-interest income:        
Net gain on loan origination and sale activities 39.4 46.8 88.9 92.1
Service charges and loan fees 36.9 17.8 74.1 34.2
Net loan servicing revenue 38.3 38.1 60.1 84.5
Income from bank owned life insurance 11.0 1.7 22.4 2.7
Gain on sales of investment securities 11.4 2.3 13.5 1.4
Fair value gain adjustments, net 0.1 0.7 1.1 1.0
Income (loss) from equity investments 2.9 4.2 (1.9) 21.3
Other income 8.3 3.6 17.5 7.9
Total non-interest income 148.3 115.2 275.7 245.1
Non-interest expense:        
Salaries and employee benefits 179.9 153.0 362.3 307.9
Deposit costs 147.4 173.7 284.2 310.7
Data processing 45.0 35.7 90.2 71.7
Insurance 37.4 33.8 75.3 92.7
Legal, professional, and directors' fees 25.3 25.8 54.2 55.9
Occupancy 16.9 18.4 34.1 35.9
Loan servicing expenses 20.1 16.6 36.5 31.6
Business development and marketing 6.1 6.4 12.0 11.9
Loan acquisition and origination expenses 5.8 5.1 11.0 9.9
Other expense 30.8 18.3 55.3 40.4
Total non-interest expense 514.7 486.8 1,015.1 968.6
Income before provision for income taxes 291.3 247.9 537.7 479.7
Income tax expense 53.5 54.3 100.8 108.7
Net income 237.8 193.6 436.9 371.0
Net income attributable to noncontrolling interest 7.4 0.0 7.4 0.0
Net income attributable to Western Alliance 230.4 193.6 429.5 371.0
Dividends on preferred stock 3.2 3.2 6.4 6.4
Net income available to common stockholders $ 227.2 $ 190.4 $ 423.1 $ 364.6
Earnings per share:        
Basic (dollars per share) $ 2.08 $ 1.75 $ 3.89 $ 3.36
Diluted (dollars per share) $ 2.07 $ 1.75 $ 3.86 $ 3.34
Weighted average number of common shares outstanding:        
Basic (shares) 109.0 108.6 108.9 108.6
Diluted (shares) 109.6 109.1 109.6 109.1
Dividends declared per common share (dollars per share) $ 0.38 $ 0.37 $ 0.76 $ 0.74