Western Alliance Bancorporation (WAL)

[TimeFades]

Couldn’t help myself and slapped 8s for the hell of it . Much needed blessing

[IronMan123]

I know what you meen, I had an order in at $7.39. I had been following it down from about $12. Just a few pennies off.

[kid70]

Wishing I jumped in at 7.50 marked.

[IronMan123]

Over reaction is over, now for the climb back up.

[IronMan123]

I think she will level out in the $30s this week.

[TimeFades]

What a play

[TimeFades]

Nice call

[TimeFades]

I missed 7 got 8s

[StockLogistics]

Moral Hazard where’s the bailout of depositors coming from everybody gets a prize

2008 “We’re taking steps to make sure this never happens again” <—-Read in Janet Yellen’s voice.

2023:

[IronMan123]

Pick up some down here. You know it is over reaction because of the SVB situation.

[Talc Moan]

Insane losses.

[makinezmoney]

$WAL: $20 3/17 puts about to POP HARDDDDDDDDddddddddddddddddddd


$WAL already down to $17.75 in PreMarket here with all this $SIVB takedown and $FRC also following suit.

BTFP is here now


Wild week ahead of us


GO $WAL

[whytestocks]

News: $WAL Western Alliance Bancorporation Reports Fourth Quarter and Full Year 2018 Financial Results

Western Alliance Bancorporation (NYSE:WAL): CEO COMMENTARY: “Western Alliance again posted strong financial performance with linked-quarter annualized loan growth of 23 percent and net revenues 1 rising 18 percent, supported by stable asset quality,” said Chief Executi...

Got this from https://marketwirenews.com/news-releases/western-alliance-bancorporation-reports-fourth-quarter-and-full-year-2018-financial-results-7549260.html

[56Chevy]

Marker:
Western Alliance Ban (WAL)
$59.15 up 0.37 (0.63%)
Volume: 507,861

[Hennypennyaz]

Earnings OUT!! Stellar!!!
WAL

[56Chevy]

In Dec. of 2009 , following the near depression and subsequent banking crisis of 08/09, the stock was at a multi-year low of $3.78.

This bank was one of the few that was not under-capitalized during those precarious days. WAMU was in a free fall and so was Lehman Bros...et al. Fear of anything spelled b-a-n-k was rampant the market reaction to anything that looked like a bank took no prisoners and WAL stock was severely punished along with the failing banks.

WAL has bounced back over the last 8 years from that $3.78 low to a high of $51.64.

Can you spell 13.66 Bagger! This bank had a remarkable "recovery" because it was never sick in the first place.

The PPS is at a 12 year high...quite possibly an all time high.

Marker:
Western Alliance Ban (WAL)
$48.73 down -0.06 (-0.12%)
Volume: 173,392

[Hennypennyaz]

YOU know it!!

[56Chevy]

Marker:
Western Alliance Ban (WAL)
$45.92 down -0.09 (-0.20%)
Volume: 1,062,347

* This bank is a 8 bagger over the last 6 years. PPS 9/2011 was $5.48

[Enterprising Investor]

Hotel Loan Deal to Test Growing Bank's Risk Management (3/30/16)

By Jackie Stewart

Western Alliance Bancorp. in Phoenix believes it has what it takes to manage a portfolio that might give other bankers night sweats.

The $14 billion-asset company agreed Tuesday to buy a $1.4 billion portfolio of hotel loans from GE Capital even though credits to the hospitality sector are often among the first to have problems during an economic downturn. Western Alliance, however, is confident that its expertise makes the deal work even better than one involving a whole bank.

For now, analysts are willing to give the bank the benefit of the doubt. Investors also seemed supportive; Western Alliance's stock rose nearly 10% on Wednesday.

Western Alliance "has a lot of experience in this type of lending," said Brent Rabatin, an analyst at Piper Jaffray. "They espoused their strong feelings that the underwriting was thoroughly reviewed and they feel good about it."

That expertise starts with Western Alliance's chairman and chief executive, Robert Sarver, who has spent 30 years investing in hotel franchises through outside real estate interests, Brad Milsaps, an analyst at Sandler O'Neill, wrote in a note to clients. (Sarver's late father was a well-known hotel developer in Arizona.)

Sarver personally reviewed the portfolio, which largely consists of "mid-level hotel chains" such as Homewood Suites, Milsaps added.

Still, investors could be concerned because Western Alliance is getting into a national lending business in the later stages of a credit cycle, said Casey Haire, an analyst at Jefferies. Investors are already concerned because the fast-growing company suffered from credit problems a few years ago, he said.

"This opens you up to asset quality concerns if we hit a downturn," Haire said. Hotel lending "is a higher-loss product than some of their other lines, too."

Western Alliance approached the portfolio's review as though a recession was coming, though the company isn't predicting one, Chief Financial Officer Dale Gibbons said in an interview. The company, which has "considerable experience" with hotel loans, plans to keep hotel credits at around 10% of total loans, he added.

"Certainly, hotel loans generally have a higher volatility relative to other economic sectors," Gibbons said. "We evaluated this under different distressed environments. This will perform better than most hotel loans."

General Electric, which has been selling off assets as it winds down GE Capital, had been talking to Western Alliance since the fall, Milsaps said in his note. All the loans in the portfolio are currently performing, Western Alliance said.

Despite the credit risk, buying the loans from GE Capital was "better than a bank deal" for Western Alliance, Rabatin said. The all-cash acquisition, which allowed management to deploy excess capital, will also be accretive to earnings without diluting tangible book value.

Western Alliance is continuing to look at acquisitions, especially in Arizona, California and Nevada, Gibbons said. It has also made offers to banks in Colorado and the Pacific Northwest, he added. But sellers haven't adjusted their price expectations despite the decline in the stock market, he said.

Management could even have some interest in buying a bank in Texas next year if conditions worsen, Milsaps said in an interview.

Texas is "a great market and is one of the most business friendly states in the country," but it's probably too early to buy a bank there "given the uncertainty regarding the energy space but down the road it could be interesting," Gibbons said.

A low price-earnings multiple could hamstring Western Alliance from pursuing a stock acquisition, and its capital ratios will take a hit from the purchase of the hotel book, industry observers said. As a result, the company might be best served to sit on the sidelines until it rebuilds capital.

"M&A is really the wild card to the story," Haire said.

Western Alliance, like other banks, could still look to buy assets rather than whole institutions. Doing so would help the company avoid criticism other banks have received about lengthy earnback periods for tangible book value dilution tied to whole bank acquisition.

Asset purchases also receive better tax treatment than whole-bank purchases, Gibbons said.

"I think it's certainly possible that more banks buy assets," Milsaps said in the interview. "With rates where they are, every bank is looking to find as much yield as they can. People are trying to find ways to make money in a very low interest rate environment."

http://www.americanbanker.com/news/dealmaking-strategy/hotel-loan-deal-to-test-growing-banks-risk-management-1080179-1.html

[56Chevy]

Marker;
Western Alliance Ban (WAL)
$31.66 down -0.42 (-1.31%)
Volume: 342,749

[56Chevy]

Western Alliance Bancorporation and Bridge Capital Holdings Agree to Merge

Date : 03/09/2015 @ 5:39PM
Source : Business Wire
Stock : Western Alliance Bancorporation (WAL)
Quote : $29.38 0.36 (1.24%) @ 3:59PM

PHOENIX & SAN JOSE, Calif., Mar 09, 2015 (BUSINESS WIRE) -- Western Alliance Bancorporation WAL, +0.16% and Bridge Capital Holdings BBNK, +5.43% announced today that they have signed a definitive agreement pursuant to which Western Alliance Bancorporation will acquire Bridge Capital Holdings. Immediately following the completion of the acquisition, Bridge Capital’s principal operating subsidiary, Bridge Bank, will merge with and into Western Alliance Bank, a wholly owned subsidiary of Western Alliance Bancorporation. Following the bank merger, Western Alliance plans to operate its Northern California offices and the existing Bridge Bank offices as a combined division under the Bridge Bank trade name.

The Agreement provides that each shareholder of Bridge Capital Holdings will receive 0.8145 of a share of Western Alliance Bancorporation and $2.39 in cash for each share of Bridge common stock owned. In aggregate, the transaction is valued at approximately $425 million, including certain unvested restricted stock awards and stock options previously issued by Bridge Capital that will be converted to Western Alliance equity awards under the terms of the Agreement.

Robert Sarver, Chairman and Chief Executive Officer of Western Alliance Bancorporation, commented, “We’re delighted to be combining our resources with Bridge Capital. Dan Myers and his team have built a fast growing, well-managed organization that substantially strengthens our Northern California presence, while providing new avenues for growth in technology and international services. Bridge Bank’s exceptional funding profile and low cost of deposits provide the rare opportunity to improve our liquidity and margins simultaneously.”

Sarver continued, “We believe this combination will create significant value for Western Alliance shareholders, both immediately and longer term, and are very excited to add Bridge’s innovative products and model to our platform.”

Daniel P. Myers, President and Chief Executive Officer of Bridge Capital Holdings, said, “We’re very excited at the growth opportunity this partnership with Western Alliance Bank represents for Bridge Bank. Our momentum is strong coming into this merger, and the additional resources it brings will allow us to better support our growing roster of business clients, and accelerate our expansion in all of our business lines and markets we serve.”

This transaction has been approved by the board of directors of each company and is subject to customary closing conditions, including approval by the shareholders of Bridge Capital Holdings and banking regulatory authorities. It is expected to be completed in the fourth quarter of 2015.

[....]

http://www.marketwatch.com/story/western-alliance-bancorporation-and-bridge-capital-holdings-agree-to-merge-2015-03-09

[Enterprising Investor]

Bad-Loan Revival Unburdens Banks (9/24/13)

Rising Values Let Lenders Shed Foreclosed-Property Portfolios

By ELIOT BROWNWestern Alliance Bancorp. got a pleasant surprise in May when it sold a vacant store in Victorville, Calif. out of its foreclosed-property portfolio.

The Phoenix-based bank had internally marked down the value of the 30,000-square-foot property, which fell into default in June 2012, to $972,000 from the $1.2 million value of the loan. Western Alliance was actually able to book a profit by selling it for $1.1 million to David Hong, who plans to use it to house his clothing-embroidery company.

"As real estate values have risen, along with demand from buyers, banks are in the better position to dispose of their OREO," Robert Sarver, Western Alliance's chief executive, said in an interview, referring to Other Real Estate Owned, the term the banking industry uses for foreclosed properties.

Rising commercial property values throughout the country have enabled banks to cleanse themselves of the mountains of distressed office buildings, shopping centers, hotels and other real estate that they reluctantly took over during the financial downturn. That has helped banks return to health and transferred thousands of properties to new investors who have breathed new life into them.

What is even more important is what didn't happen. As delinquent loans and OREO swelled, there was widespread fear among regulators that commercial real estate would follow residential real estate off the cliff and deliver another massive blow to the economy. In 2010, bad commercial-real-estate assets hit a postcrisis peak of $146 billion, according to debt research firm Trepp LLC.

Banks posted huge losses and dozens failed due to bad commercial real-estate loans made during the boom years. But the pain wasn't nearly as bad as expected, in large part because banks didn't sell their troubled loans and foreclosed properties during the darkest days of the downturn and values bounced back faster than many expected, banking and real-estate experts say.

Banks have whittled down the volume of bad loans and OREO to $60 billion by selling assets or working out deals with borrowers, according to Trepp. For commercial OREO alone, the five largest U.S. banks have reduced their holdings to $1.7 billion in the second quarter, down from $3.5 billion in mid-2010, according to the Federal Deposit Insurance Corp. "I sleep a lot easier today," says Julie Stackhouse, a vice president at the Federal Reserve Bank of St. Louis, which has examined the holdings of banks' foreclosed properties.

Meanwhile, in the real-estate industry, the steady sale by banks of the troubled assets has boosted a new class of developers and investors. While moguls and institutions have been on the other side of most high-profile distressed sales of assets such as Worldwide Plaza in Manhattan, the great majority of properties sold have been purchased by mom-and-pop investors, immigrants and other smaller players, property brokers say.

Mr. Hong, who bought the store in the Victorville strip shopping center, is the 36-year old son of South Korean immigrants. His manufacturing company, X-Treme Stitching, which specializes in baseball hats, will take half the space and the other half will be sublet to retailers, he says.

Banks are the largest holders of commercial real-estate debt, with about $1.1 trillion of the total $2.1 trillion in commercial mortgages, according to the Federal Reserve. Many decided in the early years of the crisis not to sell OREO and distressed loans because they wanted to avoid a repeat of the early 1990s, when lenders dumped assets at huge discounts only to see them rebound in value in a few years.

Their strategy this time to hold and extend troubled loans rather than sell was derided by critics as "extend and pretend." But now many who raised red flags at the time say the practice looks smart in hindsight.

"It's worked a lot better than I would have guessed," said Arthur Segel, a real-estate professor at Harvard Business School.

U.S. banks wrote down the value of their commercial real-estate holdings by $134.5 billion between 2007 and 2012, according to the Mortgage Bankers Association. But banks are getting better prices as the real-estate market has improved. For example, in 2009, lenders were taking 70% to 80% losses when selling risky assets like raw land, according to Matthew Anderson, a managing director at Trepp. Today that discount is in the 30% to 40% range, he says.

Bank selling also has picked up in the past few years as values have rebounded. U.S. commercial-property values have increased 42% since hitting their postcrash trough in 2009, according to the Moody's/REAL Commercial Property Price Indices.

Of course, for commercial loans, the problem hasn't gone away. The cache of OREO and delinquent loans is still far larger than historic levels—it was $13.6 billion in the first quarter of 2007 for U.S. banks, according to Trepp.

Many community banks in particular continue to struggle, and banks with less than $1 billion in assets have cut their OREO and delinquent loans by only 40% since 2010, according to Trepp.

The steady sale of OREO and troubled loans has helped fuel a virtuous cycle within the commercial-property markets. New owners are reinvesting in buildings, helping boost the value of surrounding properties.

A set of 16 condominium town houses in La Mesa, Calif., sat vacant for more than four years, after Bank of America Corp. foreclosed on the nearly-completed project in 2008.

In May, investment group Pathfinder Partners LLC bought the property for $3.1 million. After the floors were fixed and lighting fixtures replaced, the town homes are being rented now. Pathfinder co-founder Lorne Polger says he is on track to eventually sell the units for two-thirds more than he paid for them.

A version of this article appeared September 25, 2013, on page C1 in the U.S. edition of The Wall Street Journal, with the headline: Bad-Loan Revival Unburdens Banks.

[ECole]

Q2-2013-Earnings-Call Transcript

Read here
http://www.earningsimpact.com/Transcript/82344/WAL/Western-Alliance-Bancorporation---Q2-2013-Earnings-Call

[Enterprising Investor]

Western Alliance Reports Second Quarter 2013 Net Income of $34.0 Million, or $0.39 Per Share (7/18/13)

PHOENIX--(BUSINESS WIRE)--Western Alliance Bancorporation (NYSE:WAL) announced today its financial results for the second quarter 2013.

Second Quarter 2013 Highlights:

• Net income of $34.0 million, compared to $21.0 million for the first quarter 2013 and $14.0 million for the second quarter 2012

• Net income of $27.7 million for the second quarter 2013, excluding a $10.0 million bargain purchase gain from the acquisition of Centennial Bank, a $3.3 million trust preferred fair value revaluation charge, and a $1.1 million gain on OREO valuation (excluding tax effects)

• Earnings per share of $0.39, compared to $0.24 per share in the first quarter 2013 and $0.15 per share in the second quarter 2012

• Earnings per share of $0.30 for the second quarter 2013, excluding $0.10 per share bargain purchase gain from the acquisition of Centennial Bank, $0.02 trust preferred valuation charge, and $0.01 OREO valuation gain

• Pre-tax, pre-provision operating earnings of $40.1 million, up 14.4% from $35.1 million in first quarter 2013 and from $32.1 million in second quarter 20121

• Net interest margin of 4.36%, compared to 4.36% in the first quarter 2013 and 4.46% in the second quarter 2012

• Total loans of $6.41 billion, up $556 million from March 31, 2013, and up $1.25 billion from June 30, 2012, including $343 million increase from the acquisition of Centennial Bank, which closed on April 30, 2013

• Total deposits of $7.00 billion, up $266 million from March 31, 2013 and up $1.00 billion from June 30, 2012, including $298 million increase from the acquisition of Centennial Bank, which closed on April 30, 2013

• Nonperforming assets (nonaccrual loans and repossessed assets) decreased to 1.9% of total assets from 2.1% in first quarter 2013 and from 2.5% in second quarter 2012

• Net loan charge-offs (annualized) to average loans outstanding decreased to 0.17% from 0.38% in the first quarter 2013 and 1.11% in the second quarter 2012

• Tier I Leverage capital of 9.9% and Total Risk-Based Capital ratio of 12.0%, compared to 9.7% and 12.3% a year ago

• Total equity of $800 million, up $128 million from June 30, 2012

Financial Performance

“Our proven business model of exceptional client service, strong credit underwriting, and striving for continued performance improvement has driven our record earnings for the second quarter,” said Robert Sarver, Chairman and Chief Executive Officer of Western Alliance Bancorporation. “On the revenue side, strong loan growth and disciplined pricing led to record net interest income. Meanwhile, effective cost control and leveraging our infrastructure resulted in improved operating efficiency, as deposits per branch rose over 10% during the past year to $171 million. The acquisition of Centennial Bank augmented our results with a bargain purchase gain and higher earning assets. Continued collection activities and economic recovery resulted in a gain on sale of real estate owned and a lower credit provision as non-performing loans and repossessed assets fell to under 2%. We also invested in our future by recruiting new members to our team and, on July 1st, opened our 42nd office to more effectively serve the vibrant Scottsdale Airpark market.”

Western Alliance Bancorporation reported net income of $34.0 million, or $0.39 per share, in the second quarter 2013 (includes an $8.5 million gain from the acquisition of Centennial Bank, net of merger related expenses and tax), more than double the $14.0 million, or $0.15 per share, earned one year ago. Key performance improvement drivers include sustained organic balance sheet growth, prudent expense management, and reduced legacy asset costs against the backdrop of improved economic conditions.

Total loans increased $556 million to $6.41 billion at June 30, 2013 from $5.86 billion on March 31, 2013. Loans increased $1.25 billion, or 24.1%, from June 30, 2012. The increases in each of these periods were primarily driven by growth in commercial and industrial loans and commercial real estate loans.

Total deposits increased $266 million to $7.00 billion at June 30, 2013 from $6.73 billion at March 31, 2013. Deposits increased $1.00 billion from June 30, 2012. The increases in each of these periods were primarily due to growth in certificates of deposits and savings and money market deposits.

Income Statement

Net interest income was $82.2 million in the second quarter 2013, an increase of $6.0 million, or 7.8%, from $76.2 million in the first quarter of 2013 and an increase of $11.3 million, or 16.0%, compared to the second quarter 2012. The Company’s net interest margin remained flat in the second quarter 2013 at 4.36% compared to the first quarter 2013 and decreased from 4.46% in the second quarter 2012.

Operating non-interest income was $5.0 million for the second quarter 2013, down from $5.1 million in the first quarter of 2013 and down from $5.8 million for the second quarter of 2012.1

Net revenue was $87.2 million for the second quarter 2013, up from $81.3 million for the first quarter of 2013 and an increase of 13.8% from $76.6 million for the second quarter 2012.1

Operating non-interest expense was $47.0 million for the second quarter 2013, compared to $46.2 million for the first quarter of 2013 and $44.5 million for the second quarter of 2012.1 The Company’s operating efficiency ratio1 on a tax equivalent basis was 52.2% for the second quarter 2013, an improvement from 54.6% for the first quarter 2013 and 56.4% for the second quarter 2012 as the growth rate in revenue continued to outpace that of expense.

The Company had 1,015 full-time equivalent employees and 41 offices at June 30, 2013, compared to 953 employees and 39 offices one year ago.

The Company views its pre-tax, pre-provision operating earnings as a key metric for assessing the Company’s earning power, which it defines as net operating revenue less operating non-interest expense. For the second quarter 2013, the Company’s performance was $40.1 million, up from $35.1 million in the first quarter 2013 and up 25.2% from $32.1 million in the second quarter 2012.

The provision for credit losses was $3.5 million for the second quarter 2013, compared to $5.4 million for the first quarter 2013. The provision for the second quarter of 2012 was $13.3 million. Net loan charge-offs in the second quarter 2013 were $2.7 million, or 0.17% of average loans (annualized), down from 0.38% of average loans (annualized) for the first quarter 2013. Net charge-offs for the second quarter 2012 were $13.9 million or 1.11% of average loans (annualized).

Nonaccrual loans decreased $11 million to $83 million during the quarter. Loans past due 90 days and still accruing interest totaled $793 thousand at June 30, 2013, compared to $2 million at March 31, 2013 and $795 thousand at June 30, 2012. Loans past due 30-89 days, still accruing interest totaled $7 million at quarter end, down from $15 million at March 31, 2013 and down from $14 million at June 30, 2012.

As the Company’s asset quality improved and its capital increased, the ratio of classified assets to Tier I capital plus the allowance for credit losses, a common regulatory measure of asset quality, improved to 32% at June 30, 2013 from 42% at June 30, 2012.1

Net gain on sales and valuation of repossessed assets (primarily other real estate) was $1.1 million for the second quarter 2013 compared to a $0.5 million loss from the first quarter 2013 and a $0.9 million loss in the second quarter 2012. At June 30, 2013, other repossessed assets totaled $76.5 million compared to $77.9 million at March 31, 2013 and $77.0 million one year ago. During the second quarter 2013, the Company’s net sales proceeds received from other repossessed real estate dispositions was 116.9% of carrying value.

During the quarter, the Company completed its acquisition of Centennial Bank, which increased assets, loans and deposits at June 30, 2013 by $403 million, $343 million and $298 million, respectively, and recorded a net acquisition gain of $8.5 million. Pursuant to the accounting guidance, acquired net assets are recorded at estimated fair value. The estimated fair value of certain net assets are preliminary and subject to measurement period adjustments.

Balance Sheet

Gross loans totaled $6.41 billion at June 30, 2013, an increase of $556 million from March 31, 2013 and an increase of $1.25 billion from $5.16 billion at June 30, 2012. At June 30, 2013, the allowance for credit losses was 1.50% of total loans, which has declined from 1.63% at March 31, 2013 and 1.89% at June 30, 2012, as the Company’s asset quality has improved.

Deposits totaled $7.00 billion at June 30, 2013, an increase of $266 million from $6.73 billion at March 31, 2013 and an increase of $1.00 billion from $6.00 billion at June 30, 2012. Non-interest bearing deposits were flat at $1.92 billion at June 30, 2013 compared to March 31, 2013 and increased $77 million from $1.84 billion at June 30, 2012. Non-interest bearing deposits comprised 27.4% of total deposits at June 30, 2013, compared to 30.7% a year ago, while the proportion from savings and money market increased to 42.1% from 40.6% during the same period. Certificates of deposit as a percent of total deposits were 21.5% at June 30, 2013. The Company’s ratio of loans to deposits was 91.2% at June 30, 2013 compared to 86.9% at March 31, 2013 and 86.1% at June 30, 2012.

Stockholders’ equity at June 30, 2013 increased to $800 million from $781 million at March 31, 2013. At June 30, 2013, tangible common equity was 7.4% of tangible assets1 and total risk-based capital was 12.0% of risk-weighted assets. The Company’s tangible book value per share1 was $7.26 at June 30, 2013, up 20.8% during the past year.

Total assets increased to $8.59 billion at June 30, 2013 from $8.17 billion at March 31, 2013 and increased 20.0% from $7.16 billion at June 30, 2012.

Operating Unit Highlights

Western Alliance Bank (doing business as Alliance Bank of Arizona and First Independent Bank) reported loan growth of $339 million during the second quarter 2013 and $671 million during the last 12 months to $2.45 billion. Second quarter loan growth came primarily from the acquisition of Centennial Bank (which was merged into Western Alliance Bank). Deposits increased $208 million in the second quarter and $651 million during the last 12 months to $2.65 billion. Net income for Western Alliance Bank was $20.5 million during the second quarter 2013 compared with net income of $8.5 million during the first quarter of 2013 and net income of $7.8 million during the second quarter 2012.

Bank of Nevada, which was the recipient of net affiliate loan sales and participations, reported that loans increased by $115 million during the second quarter of 2013 and increased $414 million during the last 12 months to $2.42 billion at June 30, 2013. Second quarter loan growth came primarily from a rise in commercial real estate and construction and land development loans. Deposits increased by $13 million in the second quarter of 2013 and $189 million over the last twelve months to $2.62 billion. Net income for Bank of Nevada was $12.7 million for the second quarter 2013, compared with net income of $10.7 million for the first quarter of 2013 and net income of $3.8 million during the second quarter 2012.

The Torrey Pines Bank segment, which excludes the discontinued operations of PartnersFirst, reported that loans increased $92 million during the second quarter 2013 and increased $100 million during the last 12 months to $1.52 billion. Second quarter increases in loan balances were primarily attributable to an increase in commercial and industrial loans. Deposits increased $51 million in the second quarter 2013 and $157 million over the last 12 months to $1.75 billion. Net income for Torrey Pines Bank was $5.8 million during the second quarter 2013 compared with net income of $6.3 million for the first quarter of 2013 and net income of $5.3 million during the second quarter 2012.

Attached to this press release is summarized financial information for the quarter ended June 30, 2013.

Conference Call and Webcast

Western Alliance Bancorporation will host a conference call and live webcast to discuss its second quarter 2013 financial results at 12:00 p.m. ET on Friday, July 19, 2013. Participants may access the call by dialing 1-888-317-6003 and using passcode: 2074791 or via live audio webcast using the website link: https://services.choruscall.com/links/wal130719.html. The webcast is also available via the Company’s website at www.westernalliancebancorp.com. Participants should log in at least 15 minutes early to receive instructions. The call will be recorded and made available for replay after 2:00 p.m. ET July 19th through August 2nd at 9:00 a.m. ET by dialing 1-877-344-7529 using the conference number 10031032.

About Western Alliance Bancorporation

Western Alliance Bancorporation is the parent company of Bank of Nevada, Western Alliance Bank doing business as Alliance Bank of Arizona and First Independent Bank, and Torrey Pines Bank. These dynamic organizations provide a broad array of deposit and credit services to clients in Nevada, Arizona and California. Staffed with experienced financial professionals, these organizations deliver a broader product array and larger credit capacity than community banks, yet are empowered to be more responsive to customers' needs than larger institutions. Additional investor information can be accessed on the Investor Relations page of the Company's website, www.westernalliancebancorp.com.

Cautionary Note Regarding Forward-Looking Statements

This release 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. The forward-looking statements contained herein reflect our current views about future events and financial performance and are subject to risks, uncertainties, assumptions and changes in circumstances that may cause our actual results to differ significantly from historical results and those expressed in any forward-looking statement. Some factors that could cause actual results to differ materially from historical or expected results include: factors discussed in our Annual Report on Form 10-K for the year ended December 31, 2012 as filed with the Securities and Exchange Commission; changes in general economic conditions, either nationally or locally in the areas in which we conduct or will conduct our business; inflation, interest rate, market and monetary fluctuations; increases in competitive pressures among financial institutions and businesses offering similar products and services; higher defaults on our loan portfolio than we expect; changes in management’s estimate of the adequacy of the allowance for credit losses; legislative or regulatory changes or changes in accounting principles, policies or guidelines; supervisory actions by regulatory agencies which may limit our ability to pursue certain growth opportunities; management’s estimates and projections of interest rates and interest rate policy; the execution of our business plan; and other factors affecting the financial services industry generally or the banking industry in particular.

We do not intend and disclaim any duty or obligation to update or revise any industry information or forward-looking statements set forth in this press release to reflect new information, future events or otherwise.

This press release contains both financial measures based on accounting principles generally accepted in the United States (“GAAP”) and non-GAAP based financial measures, which are used where management believes it to be helpful in understanding Western Alliance Bancorporation’s results of operations or financial position. Where non-GAAP financial measures are used, the comparable GAAP financial measure, as well as the reconcilement to the comparable GAAP financial measure, can be found in this press release. These disclosures should not be viewed as a substitute for operating results determined in accordance with GAAP, nor are they necessarily comparable to non-GAAP performance measures that may be presented by other companies.

http://www.businesswire.com/news/home/20130718006495/en/Western-Alliance-Reports-Quarter-2013-Net-Income

[Enterprising Investor]

WAL Announces Resignation of Kenneth Vecchione as Chief Operating Officer (3/20/13)

PHOENIX--(BUSINESS WIRE)--Western Alliance Bancorporation (NYSE: WAL) announced today that President and Chief Operating Officer Kenneth Vecchione has resigned from the Company, effective April 5, 2013, to accept a position as CEO of another publicly traded, non-banking company. Mr. Vecchione will remain as a director of Western Alliance and will continue to serve as Chairman of its Finance and Investment Committee and as Vice-Chairman of Bank of Nevada.

Robert Sarver, Chairman and Chief Executive Officer of Western Alliance Bancorporation, commented, “On behalf of Western Alliance, I would like to congratulate Ken on this opportunity. We wish him nothing but the best in his new position, which will be announced officially by his new company in the coming weeks.”

“I appreciate the value Ken has contributed to the Company over the past three years, and look forward to the benefit of his continuing advice and counsel in his capacity as a director of the Company and Chairman of our Finance and Investment Committee,” added Mr. Sarver.

“I am excited for the opportunity to fulfill my longtime aspiration of being the CEO of a public financial services company and look forward to this new challenge. I have genuinely enjoyed partnering with Robert and the management team at WAL these past three years,” said Mr. Vecchione.

Mr. Vecchione continued, “I am very proud of the many accomplishments we’ve achieved together during my tenure here as COO, and greatly appreciate all of the contributions and support I’ve received from the entire WAL team. I’m delighted that I will have the chance to remain connected to the Company and be an active participant in its future.”

About Western Alliance Bancorporation

Western Alliance Bancorporation is a leading bank holding company in the Southwest with banking subsidiaries in Arizona, California and Nevada. The company provides services to businesses, entrepreneurs, professionals, nonprofit organizations, high net worth individuals and other consumers seeking the robust product array of a national bank with the individual, personal attention of a community bank, delivered through a dedicated, local Relationship Manager.

Contacts

Western Alliance Bancorporation
Robert Sarver, 602-952-5460

http://www.businesswire.com/news/home/20130320005420/en/Western-Alliance-Bancorporation-Announces-Resignation-Kenneth-Vecchione

[Enterprising Investor]

Western Alliance Reports Fourth Quarter 2012 Net Income of $32.1 Million, or $0.37 Per Share; Full Year Net Income of $72.8 Million, or $0.83 Per Share (1/24/13)

PHOENIX--(BUSINESS WIRE)--Western Alliance Bancorporation (NYSE:WAL) announced today its financial results for the fourth quarter 2012.

Fourth Quarter 2012 Highlights:
• Net income of $32.1 million, an increase of 107.1% compared to $15.5 million for the third quarter 2012 and more than quadruple compared to $7.1 million for the fourth quarter 2011
• Net income of $18.9 million for the fourth quarter 2012, excluding $14.8 million net effect from certain transactions which include the effect of the bargain purchase gain on Western Liberty, $1.9 million of securities gains, $0.9 million net legal settlements, $5.6 million accrued disposition costs related to affinity credit card services, and $1.2 million large loan prepayment fee2
• Earnings per share of $0.37, compared to $0.18 per share for the third quarter 2012 and $0.07 per share in the fourth quarter 2011
• Earnings per share of $0.22 for the fourth quarter 2012, excluding $0.15 per share net effect from certain transactions which include the effect of the bargain purchase gain on Western Liberty, $0.02 per share securities gains, $0.01 per share net legal settlements, $0.04 per share accrued disposition cost related to affinity credit card services and $0.01 per share for loan prepayment fee2
• Pre-tax, pre-provision operating earnings of $36.8 million, up from $33.4 million in third quarter 2012 and up 16.8% from $31.5 million in fourth quarter 20111
• Net interest margin of 4.55% compared to 4.41% in the third quarter of 2012 and 4.51% in the fourth quarter 2011
• Total loans of $5.71 billion, up $376 million from September 30, 2012, and up $929 million from December 31, 2011, including $91 million increase from acquisition of Western Liberty Bancorp in October 2012
• Total deposits of $6.46 billion, up $293 million from September 30, 2012, and up $797 million from December 31, 2011, including $117 million increase from acquisition of Western Liberty Bancorp
• Nonperforming assets (nonaccrual loans and repossessed assets) decreased to 2.4% of total assets from 2.7% in third quarter 2012 and from 2.6% in fourth quarter 2011
• Net loan charge-offs (annualized) to average loans outstanding increased to 0.99% from 0.70% in the third quarter 2012, including 0.19% percent for the write down of the affinity credit card portfolio to fair value
• Tier I Leverage capital of 10.1% and Total Risk-Based Capital ratio of 12.6%, compared to 9.8% and 12.6% a year ago
• Total equity of $759.6 million, up $61.6 million from September 30, 2012, and up $122.9 million from December 31, 2011
• Acquisition of Western Liberty Bancorp increased total assets by $195.5 million and bargain purchase gain of $17.6 million. Pursuant to accounting guidance acquired net assets are reflected at estimated fair value. The estimated fair value of certain net assets are preliminary and subject to a measurement period adjustment.

Financial Performance

“2012 was a great year for our Company,” said Robert Sarver, Chairman and Chief Executive Officer of Western Alliance Bancorporation. “Quarter after quarter, we achieved high quality loan growth, consistently funded by low-cost core deposits. Meanwhile, our asset quality ratios and operating efficiency improved as well. This strong performance culminated in an exceptional fourth quarter in which we augmented our strong organic growth with the successful acquisition of Western Liberty Bancorp, helping to propel our earnings to $32 million.”

Sarver continued, “This strong finish to 2012, delivered by our team at Western Alliance, has given us powerful momentum as we head into 2013.”

Ken Vecchione, President and Chief Operating Officer, added, “In 2012, our Company again executed its growth strategy by reporting double-digit top line revenue growth for the third consecutive year, and growth in operating revenue as it has every year since it went public in 2005. This rising revenue, when coupled with our lower credit costs and increased efficiency, has given us considerable leverage to drive earnings per share higher, as we did to 83 cents last year.”

Western Alliance Bancorporation reported net income of $32.1 million, or $0.37 per share, in the fourth quarter 2012 including a $0.5 million charge from repossessed assets valuations/sales, $2.7 million of merger/restructure charges, a $17.6 million bargain purchase gain from the acquisition of Western Liberty Bancorp, and $1.9 million gains from securities.

Full year net income was $72.8 million compared to $31.5 million in 2011. Full year earnings per share were $0.83 compared to $0.19 for 2011.

Total loans increased $376 million to $5.71 billion at December 31, 2012 from $5.33 billion on September 30, 2012. This increase was primarily driven by growth in commercial and industrial loans and commercial real estate loans. Loans increased $929 million, 19.4 percent from December 31, 2011.

Total deposits increased $293 million to $6.46 billion at December 31, 2012 from $6.16 billion at September 30, 2012, with growth in all account types primarily in certificates of deposits and non-interest-bearing demand. Deposits increased $797 million, or 14.1 percent from December 31, 2011.

Income Statement

Net interest income of $77.5 million in the fourth quarter 2012, an increase of 7.8 percent compared to the third quarter 2012 and 12.7 percent compared to the fourth quarter 2011. The Company’s net interest margin in the fourth quarter 2012 was 4.55 percent compared to 4.41 percent in the third quarter 2012 and 4.51 percent in the fourth quarter 2011.

Operating non-interest income was $5.1 million for the fourth quarter 2012, a decrease from $5.4 million for the third quarter of 2012 and $5.6 million for the fourth quarter of 2011.1

Net revenue was $82.5 million for the fourth quarter 2012, up from $77.3 million for the third quarter of 2012 and an increase of 11.0 percent from $74.3 million for the fourth quarter 2011.1

Operating non-interest expense was $45.8 million for the fourth quarter 2012, compared to $43.9 million for the third quarter of 2012 and $42.8 million for the fourth quarter of 2011.1 The Company’s operating efficiency ratio on a tax equivalent basis was 53.5 percent for the fourth quarter 2012, improved from 56.5 percent for the fourth quarter 2011.1

The Company had 982 full-time equivalent employees December 31, 2012, compared to 942 one year ago.

A key performance metric for the Company is its pre-tax, pre-provision operating earnings, which it defines as net operating revenue less its operating non-interest expense. For the fourth quarter 2012, the Company’s performance on this metric was $36.8 million, up from $33.4 million in the third quarter 2012 and $31.5 million in the fourth quarter 2011.1

The provision for credit losses was $11.5 million for the fourth quarter 2012, compared to $8.9 million for the third quarter 2012. The provision for the fourth quarter of 2011 was $13.1 million. Net loan charge-offs in the fourth quarter 2012 were $13.5 million, or 0.99 percent of average loans (annualized), up from 0.70 percent of average loans (annualized) for the third quarter 2012. Net charge-offs for the fourth quarter 2011 were $14.1 million, or 1.24% of average loans (annualized).

Nonaccrual loans decreased $16.5 million to $104.7 million during the quarter. Loans past due 90 days and still accruing interest totaled $1.4 million at December 31, 2012, down from $1.7 million at September 30, 2012 and from $2.6 million at December 31, 2011. Loans past due 30-89 days, still accruing interest totaled $16.6 million at quarter end, up from $10.2 million at September 30, 2012 and from $13.7 million at December 31, 2011.

Classified assets to Tier I capital plus allowance for credit losses, a common regulatory measure of asset quality, improved to 34 percent at December 31, 2012 from 39 percent at December 31, 2011.1

Net loss on sales and valuation of repossessed assets (primarily other real estate) was $0.5 million for the fourth quarter of 2012 compared to $0.1 million for the third quarter 2012 and $7.7 million in the fourth quarter 2011. At December 31, 2012, other repossessed assets were valued at $77 million compared to $78 million at September 30, 2012 and $89 million one year ago.

During the quarter, the Company completed its acquisition of Western Liberty Bancorp, which increased assets, loans and deposits by $195 million, $91 million, and $117 million, respectively, and recorded a gain on bargain purchase of $17.6 million. The Company issued 3.0 million shares in conjunction with closing this transaction.

The Company transferred its remaining $34 million in affinity credit card receivables to loans held for sale during the quarter and recognized a loan charge-off of $2.6 million in a markdown to fair value. Disposition costs of $1.6 million (net of tax) were also recognized in discontinued operations.

Balance Sheet

Gross loans totaled $5.71 billion at December 31, 2012, an increase of $376 million from September 30, 2012 and an increase of $929 million from $4.78 billion at December 31, 2011. At December 31, 2012, the allowance for credit losses was 1.67 percent of total loans down from 1.83 percent at September 30, 2012 and 2.07 percent at December 31, 2011.

Deposits totaled $6.46 billion at December 31, 2012, an increase of $293 million from $6.16 billion at September 30, 2012 and an increase of $797 million from $5.66 billion at December 31, 2011.

Non-interest bearing deposits increased $92 million to $1.93 billion at December 31, 2012 from September 30, 2012 and increased $375 million from $1.56 billion at December 31, 2011. Non-interest bearing deposits comprised 29.9 percent of total deposits at December 31, 2012, compared to 27.5 percent a year ago. At December 31, 2012, the Company’s loans were 88.5 percent of deposits compared to 86.5 percent at September 30, 2012 and 84.5 percent at December 31, 2011.

Stockholders’ equity at December 31, 2012 increased to $759.6 million from $698.0 million at September 30, 2012, of which $32 million was due to the issuance of shares to complete the Western Liberty Bancorp acquisition. At December 31, 2012, tangible common equity was 7.8 percent of tangible assets1 and total risk-based capital was 12.6 percent of risk-weighted assets.

Total assets increased to $7.62 billion at December 31, 2012 from $7.40 billion at September 30, 2012 and increased 11.4 percent from $6.84 billion at December 31, 2011.

Operating Unit Highlights

Bank of Nevada reported that loans increased by $122 million during the fourth quarter of 2012, and increased $324 million during the last 12 months to $2.18 billion at December 31, 2012. Deposits increased by $161 million in the fourth quarter of 2012 and $192 million over the last twelve months to $2.57 billion. This growth was mostly due to the acquisition of Service 1st Bank of Nevada (former subsidiary of Western Liberty merged into Bank of Nevada). Net income for Bank of Nevada was $7.6 million for the fourth quarter 2012, compared with net income of $5.8 million for the third quarter of 2012 and net income of $1.2 million during the fourth quarter 2011.

Western Alliance Bank (doing business as Alliance Bank of Arizona and First Independent Bank) reported loan growth of $166 million during the fourth quarter 2012 and $392 million during the last 12 months to $2.04 billion. Deposits increased $74 million in the fourth quarter and $347 million during the last 12 months to $2.22 billion. Net income for Western Alliance Bank was $10.4 million during the fourth quarter 2012 compared with net income of $8.8 million during the third quarter of 2012 and net income of $5.6 million during the fourth quarter 2011.

The Torrey Pines Bank segment, which excludes discontinued operations, reported that loans increased $78 million during the fourth quarter 2012 and $189 million during the last 12 months to $1.51 billion. Deposits increased $65 million in the fourth quarter 2012 and $263 million over the last 12 months to $1.68 billion. Net income for Torrey Pines Bank was $5.2 million during the fourth quarter 2012 compared with net income of $6.4 million for the third quarter of 2012 and net income of $5.9 million during the fourth quarter 2011.

The other segment reported loans increased during the fourth quarter 2012 by $11 million as the result of the acquisition of Las Vegas Sunset Properties (former subsidiary of Western Liberty, now a subsidiary of Western Alliance Bancorporation) and increased $24 million during the last 12 months.

Attached to this press release is summarized financial information for the quarter ended December 31, 2012.

Subsequent Event

On January 18, 2013, the Company’s Western Alliance Bank subsidiary executed a definitive agreement to acquire Centennial Bank, located in Fountain Valley, California, for $57.5 million in cash, distribution of specified loans and assumption of Centennial Bank’s transactional expenses up to $1.0 million. Subject to bankruptcy court and regulatory approval, the transaction is expected to close in the late first quarter 2013. The Company expects the acquisition to be accretive to its earnings per share.

Conference Call and Webcast

Western Alliance Bancorporation will host a conference call and live webcast to discuss its fourth quarter 2012 financial results at 12:00 p.m. ET on Friday, January 25, 2013. Participants may access the call by dialing 1-888-317-6003 and using passcode: 7853474 or via live audio webcast using the website link: https://services.choruscall.com/links/wal130125.html. The webcast is also available via the Company’s website at www.westernalliancebancorp.com. Participants should log in at least 15 minutes early to receive instructions. The call will be recorded and made available for replay after 2:00 p.m. ET, January 25th through February 25th at 9:00 a.m. ET by dialing 1-877-344-7529 using the conference number 10023314.

About Western Alliance Bancorporation

Western Alliance Bancorporation is the parent company of Bank of Nevada, Western Alliance Bank doing business as Alliance Bank of Arizona and First Independent Bank, and Torrey Pines Bank. These dynamic organizations provide a broad array of deposit and credit services to clients in Nevada, Arizona and California. Staffed with experienced financial professionals, these organizations deliver a broader product array and larger credit capacity than community banks, yet are empowered to be more responsive to customers' needs than larger institutions. Additional investor information can be accessed on the Investor Relations page of the company's website, www.westernalliancebancorp.com.

http://www.businesswire.com/news/home/20130124006601/en/Western-Alliance-Reports-Fourth-Quarter-2012-Net

[Enterprising Investor]

WAL Reports Third Quarter 2012 Net Income of $15.5 million, or $0.18 per share, and Completion of Acquisition of Western Liberty Bancorp (10/18/12)

PHOENIX--(BUSINESS WIRE)--Western Alliance Bancorporation (NYSE: WAL) announced today its financial results for the third quarter 2012.

Third Quarter 2012 Highlights:

• Net income of $15.5 million, an increase of 10.7% compared to $14.0 million for the second quarter 2012 and an increase of 18.8% compared to $13.0 million for the third quarter 2011

• Net income of $16.6 million for the third quarter 2012, excluding $3.4 million goodwill and intangible impairment, $0.8 million gain on sale of minority interest, $1.0 million gains on sales of investment securities, and $0.5 million unrealized fair value gains on trust preferred

• Earnings per share of $0.18, an increase of 20% compared to $0.15 per share for the second quarter 2012 and more than triple the $0.04 per share in the third quarter 2011

• Earnings per share of $0.20 per share for the third quarter 2012, excluding $0.05 per share goodwill and intangible impairment, $0.01 per share gain on sale of minority interest and $0.02 per share from gains on sales of investment securities and unrealized fair value gains on trust preferred

• Pre-tax, pre-provision operating earnings of $33.4 million, up from $32.1 million in second quarter 2012 and up 18.9% from $28.1 million in third quarter 20111

• Net interest margin of 4.41% compared to 4.46% in the second quarter of 2012 and 4.29% in the third quarter 2011

• Total loans of $5.33 billion, up $168 million from June 30, 2012, and up $806 million from September 30, 2011

• Total deposits of $6.16 billion, up $161 million from June 30, 2012 and up $529 million from September 30, 2011

• Nonperforming assets (nonaccrual loans and repossessed assets) increased to 2.7% of total assets from 2.5% in second quarter 2012 and decreased from 3.1% in third quarter 2011

• Net loan charge-offs (annualized) to average loans outstanding declined to 0.70% from 1.11% in the second quarter 2012 and 1.40% in the third quarter of 2011

• Tier I Leverage capital of 9.7% and Total Risk-Based Capital ratio of 12.3%, compared to 9.8% and 13.2% a year ago

• Total equity of $698.0 million, up $25.9 million from June 30, 2012 and up $61.3 million from December 31, 2011

Financial Performance

“This was an exceptional quarter for Western Alliance,” said Robert Sarver, Chairman and Chief Executive Officer of Western Alliance Bancorporation. “Loans grew for the 10th consecutive quarter and deposits were up for the 11th, driving our top line revenue up 9.7% from the third quarter of 2011. In fact, recently released FDIC data shows that the Company is growing twice as fast as the market in Arizona and San Diego. Meanwhile, we held our expenses in check and our credit costs fell, propelling a substantial rise in earnings per share.

“I’d also like to welcome the customers of Service1st Bank of Nevada to our Company. Service1st Bank became part of Western Alliance with the close of our merger with Western Liberty Bancorp yesterday. We expect to merge Service1st into Bank of Nevada at the end of this month and complete the systems integration in December. This will give our new clients access to the larger branch network as well as other services offered by Bank of Nevada and its affiliates.”

Ken Vecchione, President and Chief Operating Officer, added, “Our improved operating leverage from exceptional revenue growth and continued expense control took our efficiency ratio below 55% for the first time during the quarter. Although non-performing assets rose, we’re pleased with the lower charge-offs and other real estate losses incurred, which we believe reflect continued recovery in our primary markets. Record efficiency combined with lower credit costs enabled us to increase earnings per share to 18 cents, up 20% from the second quarter.”

Western Alliance Bancorporation reported net income of $15.5 million, or $0.18 per share, in the third quarter 2012 including a $0.1 million charge from repossessed assets valuations/sales, $3.4 million of goodwill and intangible impairment charges, a $0.8 million gain from sale of minority interest and a $1.0 million gain from securities sales.

Total loans increased $168 million, or 3.3 percent, to $5.33 billion at September 30, 2012 from $5.16 billion on June 30, 2012. This increase was primarily driven by growth in commercial and industrial loans and construction and land development loans. Loans increased $806 million from September 30, 2011.

Total deposits increased $161 million, or 2.7 percent, to $6.16 billion at September 30, 2012 from $6.0 billion at June 30, 2012, with growth primarily in money market accounts, certificates of deposits and savings accounts partially offset by declines in interest bearing demand and non-interest bearing demand. Deposits increased $529 million from September 30, 2011.

Income Statement

Net interest income of $71.9 million in the third quarter 2012, an increase of 1.6 percent compared to the second quarter 2012 and 11.4 percent compared to the third quarter 2011. The Company’s net interest margin in the third quarter 2012 was 4.41 percent compared to 4.46 percent in the second quarter 2012 and 4.29 percent in the third quarter 2011.

Operating non-interest income was $5.4 million for the third quarter 2012, a decrease from $5.8 million for the second quarter of 2012 and $5.9 million for the third quarter of 2011.1

Net revenue was $77.3 million for the third quarter 2012, up from $76.6 million for the second quarter of 2012 and an increase of 9.6 percent from $70.5 million for the third quarter 2011.1

Operating non-interest expense was $43.9 million for the third quarter 2012, compared to $44.5 million for the second quarter of 2012 and $42.4 million for the third quarter of 2011.1 The Company’s operating efficiency ratio on a tax equivalent basis was 54.9 percent for the third quarter 2012, improved from 59.6 percent for the third quarter 2011.1

The Company had 964 full-time equivalent employees September 30, 2012, compared to 911 one year ago.

A key performance metric for the Company is its pre-tax, pre-provision operating earnings, which it defines as net operating revenue less its operating non-interest expense. For the third quarter 2012, the Company’s performance on this metric was $33.4 million, up from $32.1 million in the second quarter 2012 and $28.1 million in the third quarter 2011.1

The provision for credit losses was $8.9 million for the third quarter 2012 compared to $13.3 million for the second quarter 2012. The provision for the third quarter of 2011 was $11.2 million. Net loan charge-offs in the third quarter 2012 were $9.0 million, or 0.70 percent of average loans (annualized), down from 1.11 percent of average loans (annualized) for the second quarter 2012. Net charge-offs for the third quarter 2011 were $15.3 million or 1.40% of average loans (annualized).

Nonaccrual loans increased $16.9 million to $121.2 million during the quarter. Loans past due 90 days and still accruing interest totaled $1.7 million at September 30, 2012, up from $0.8 million at June 30, 2012 and down from $2.1 million at September 30, 2011. Loans past due 30-89 days, still accruing interest totaled $10.2 million at quarter end, down from $13.8 million at June 30, 2012 and from $12.4 million at September 30, 2011.

Classified assets to Tier I capital plus allowance for credit losses, a common regulatory measure of asset quality, improved to 39 percent at September 30, 2012 from 42 percent at September 30, 2011.1

Net loss on sales and valuation of repossessed assets (primarily other real estate) was $0.1 million for the third quarter of 2012 compared to $0.9 million for the second quarter 2012 and $2.1 million in the third quarter 2011. At September 30, 2012, other repossessed assets were valued at $78 million compared to $77 million at June 30, 2012 and $87 million one year ago.

During the quarter, the Company sold its 24.9% interest in Miller/Russell Associates for a gain of $0.8 million. The Company is in discussions to sell its 80% ownership in Shine Investment Advisory Services, Inc. resulting in impairment charges of goodwill and intangibles of $3.4 million during the third quarter 2012.

Balance Sheet

Gross loans totaled $5.33 billion at September 30, 2012, an increase of $168 million from June 30, 2012 and an increase of $806 million from $4.53 billion at September 30, 2011. At September 30, 2012, the allowance for credit losses was 1.83 percent of total loans down from 1.89 percent at June 30, 2012 and 2.21 percent at September 30, 2011.

Deposits totaled $6.16 billion at September 30, 2012, an increase of $161 million from $6.0 billion at June 30, 2012 and an increase of $529 million from $5.63 billion at September 30, 2011.

Non-interest bearing deposits decreased $1.3 million at September 30, 2012 from June 30, 2012 and increased $322 million from $1.52 billion at September 30, 2011. Non-interest bearing deposits comprised 29.9 percent of total deposits at September 30, 2012, compared to 27.0 percent a year ago.

At September 30, 2012, the Company’s loans were 86.5 percent of deposits compared to 86.1 percent at June 30, 2012 and 80.4 percent at September 30, 2011.

Stockholders’ equity at September 30, 2012 increased to $698.0 million from $672.1 million at June 30, 2012. At September 30, 2012, tangible common equity was 7.2 percent of tangible assets1 and total risk-based capital was 12.3 percent of risk-weighted assets.

Total assets increased to $7.40 billion at September 30, 2012 from $7.16 billion at June 30, 2012 and increased 13.0 percent from $6.55 billion at September 30, 2011.

Operating Unit Highlights

Bank of Nevada reported that loans increased by $59 million during the third quarter of 2012, and increased $209 million during the last 12 months to $2.06 billion at September 30, 2012. Deposits decreased by $22 million in the third quarter of 2012 and $58 million over the last twelve months to $2.41 billion. Net income for Bank of Nevada was $5.8 million for the third quarter 2012, compared with net income of $3.8 million for the second quarter of 2012 and net income of $1.7 million during the third quarter 2011.

Western Alliance Bank (doing business as Alliance Bank of Arizona and First Independent Bank) reported loan growth of $88 million during the third quarter 2012 and $387 million during the last 12 months to $1.87 billion. Deposits increased $152 million in the third quarter and $382 million during the last 12 months to $2.15 billion. Net income for Western Alliance Bank was $8.8 million during the third quarter 2012 compared with net income of $7.8 million during the second quarter of 2012 and net income of $5.5 million during the third quarter 2011.

The Torrey Pines Bank segment, which excludes discontinued operations, reported that loans increased $9 million during the third quarter 2012 and $198 million during the last 12 months to $1.43 billion. Deposits increased $21 million in the third quarter 2012 and $214 million over the last 12 months to $1.61 billion. Net income for Torrey Pines Bank was $6.4 million during the third quarter 2012 compared with net income of $5.3 million for the second quarter of 2012 and net income of $5.4 million during the third quarter 2011.

Attached to this press release is summarized financial information for the quarter ended September 30, 2012.

Subsequent Event

On October 17, 2012, the Company completed its acquisition of Western Liberty Bancorp, which on September 30, 2012 had total assets of $183.8 million, total loans of $104.2 million, total deposits of $111.5 million and total equity of $70.6 million. The Company paid $27.5 million and issued 2,966,322 shares for all of the equity interests of Western Liberty. Western Liberty’s primary operating subsidiary, Service1st Bank of Nevada, is now a wholly-owned subsidiary of Western Alliance Bancorporation. The Company expects to merge Service1st Bank into Bank of Nevada at the end of the month. None of the assets or liabilities of Western Liberty are included in this third quarter earnings release, nor are the shares issued by the Company to consummate the merger.

Conference Call and Webcast

Western Alliance Bancorporation will host a conference call and live webcast to discuss its third quarter 2012 financial results at 12:00 p.m. ET on Friday, October 19, 2012. Participants may access the call by dialing 1-866-843-0890 and using passcode: 7288570 or via live audio webcast using the website link: https://services.choruscall.com/links/wal121019.html. The webcast is also available via our website at www.westernalliancebancorp.com. Participants should log in at least 15 minutes early to receive instructions. The call will be recorded and made available for replay after 2:00 p.m. ET October 19th through November 12th at 9:00 a.m. ET by dialing 1-877-344-7529 using the conference number 10019200.

About Western Alliance Bancorporation

Western Alliance Bancorporation is the parent company of Bank of Nevada, Western Alliance Bank doing business as Alliance Bank of Arizona and First Independent Bank, Torrey Pines Bank, and Shine Investment Advisory Services. These dynamic organizations provide a broad array of deposit and credit services to clients in Nevada, Arizona and California, and investment services in Colorado. Staffed with experienced financial professionals, these organizations deliver a broader product array and larger credit capacity than community banks, yet are empowered to be more responsive to customers' needs than larger institutions. Additional investor information can be accessed on the Investor Relations page of the company's website, www.westernalliancebancorp.com.

Cautionary Note Regarding Forward-Looking Statements

This release 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. The forward-looking statements contained herein reflect our current views about future events and financial performance and are subject to risks, uncertainties, assumptions and changes in circumstances that may cause our actual results to differ significantly from historical results and those expressed in any forward-looking statement. Some factors that could cause actual results to differ materially from historical or expected results include: factors listed in the Form 10-K as filed with the Securities and Exchange Commission; changes in general economic conditions, either nationally or locally in the areas in which we conduct or will conduct our business; inflation, interest rate, market and monetary fluctuations; increases in competitive pressures among financial institutions and businesses offering similar products and services; higher defaults on our loan portfolio than we expect; changes in management’s estimate of the adequacy of the allowance for credit losses; legislative or regulatory changes or changes in accounting principles, policies or guidelines; management’s estimates and projections of interest rates and interest rate policy; the execution of our business plan; and other factors affecting the financial services industry generally or the banking industry in particular.

We do not intend and disclaim any duty or obligation to update or revise any industry information or forward-looking statements set forth in this press release to reflect new information, future events or otherwise.

This press release contains both financial measures based on accounting principles generally accepted in the United States (“GAAP”) and non-GAAP based financial measures, which are used where management believes it to be helpful in understanding Western Alliance Bancorporation’s results of operations or financial position. Where non-GAAP financial measures are used, the comparable GAAP financial measure, as well as the reconcilement to the comparable GAAP financial measure, can be found in this press release. These disclosures should not be viewed as a substitute for operating results determined in accordance with GAAP, nor are they necessarily comparable to non-GAAP performance measures that may be presented by other companies.

1 See Reconciliation of Non-GAAP Financial Measures beginning on page 16

http://www.businesswire.com/news/home/20121018006738/en/Western-Alliance-Reports-Quarter-2012-Net-Income

[Enterprising Investor]

WAL to Acquire WLBC (8/12/12)

PHOENIX & LAS VEGAS--(BUSINESS WIRE)--Western Alliance Bancorporation (NYSE:WAL) and Western Liberty Bancorp (NASDAQ:WLBC) announced today that they have signed a definitive agreement pursuant to which Western Alliance Bancorporation will acquire Western Liberty Bancorp. Immediately following the completion of the acquisition, Western Liberty’s principal operating subsidiary, Service1st Bank of Nevada, will merge with and into Bank of Nevada, a wholly-owned subsidiary of Western Alliance Bancorporation.

The Agreement provides that each shareholder of Western Liberty Bancorp may elect to receive either $4.02 in cash or 0.4341 of a share of Western Alliance Bancorporation for each Western Liberty share owned (based on existing shares of Western Liberty stock outstanding as of the date hereof and assuming the conversion of outstanding restricted stock units), subject to certain collar and proration provisions. The exchange is expected to be tax free, to the extent shareholders receive shares of Western Alliance Bancorporation. In aggregate, the transaction is valued at approximately $55 million.

Robert Sarver, Chairman and Chief Executive Officer of Western Alliance Bancorporation, commented, “This transaction further strengthens our capital position, increases our core deposits, and enables us to further leverage our existing infrastructure in Las Vegas. We expect the transaction to be immediately accretive to our tangible book value.”

Bruce Hendricks, Chief Executive Officer of Bank of Nevada, added, “With significant customer overlap between Bank of Nevada and Service1st Bank, we anticipate quickly integrating the two institutions, giving added convenience and services to clients of Service1st.”

“By joining a strong, service-oriented regional banking franchise, we add greater lending capacity for our customers and new opportunities for growth for the bank. I am confident that both our organizations will benefit from this combination,” said William Martin, Chief Executive Officer of Western Liberty Bancorp. “As we considered all of our strategic growth options, it became clear that choosing to partner with Western Alliance can provide the greatest benefits and opportunities for our stockholders, employees, customers, and the communities we serve.”

This transaction has been approved by the board of directors of each company and is subject to certain terms and conditions, including approval by stockholders of Western Liberty Bancorp and banking regulatory authorities. It is expected to be completed in the fourth quarter 2012.

About Western Alliance Bancorporation

With $7.2 billion in assets, Western Alliance Bancorporation is the parent company of Bank of Nevada, Western Alliance Bank doing business as Alliance Bank of Arizona and First Independent Bank, Torrey Pines Bank, and Shine Investment Advisory Services. These dynamic organizations provide a broad array of deposit and credit services to clients in Nevada, Arizona and California, and investment services in Colorado. Staffed with experienced financial professionals, these organizations deliver a broader product array and larger credit capacity than community banks, yet are empowered to be more responsive to customers' needs than larger institutions. Additional investor information can be accessed on the Investor Relations page of the company's website, www.westernalliancebancorp.com.

About Western Liberty Bancorp

With $199 million in assets, Western Liberty Bancorp is a Nevada bank holding company which conducts operations through Service1st Bank of Nevada, its wholly-owned banking subsidiary, and Las Vegas Sunset Properties. Service1st Bank operates as a traditional community bank and provides a full range of deposit, lending and other banking services to locally-owned businesses, professional firms, individuals and other customers from its headquarters and two retail banking facilities located in the greater Las Vegas area. Services provided include basic commercial and consumer depository services, commercial working capital and equipment loans, commercial real estate loans, and other traditional commercial banking services. Primarily all of the bank’s business is generated in the Nevada market.

Additional Information

The proposed transaction will be submitted to the stockholders of Western Liberty for their consideration. In connection with the proposed merger with Western Liberty Bancorp, Western Alliance will file with the Securities and Exchange Commission (the “SEC”) a Registration Statement on Form S-4 that will include a proxy statement of Western Liberty that also constitutes a prospectus of Western Alliance. Western Liberty will mail the proxy statement/prospectus to its stockholders. Investors and security holders are urged to read the proxy statement/prospectus regarding the proposed merger when it becomes available, as well as other documents filed with the SEC, because they will contain important information. You may obtain a free copy of the proxy statement/prospectus (when available) and other related documents filed by Western Alliance and Western Liberty with the SEC at the SEC’s website at www.sec.gov. The proxy statement/prospectus (when it is available) and the other documents may also be obtained for free by accessing Western Alliance’s website at www.westernalliancebancorp.com under the tab “Investor Relations” and then under the heading “Financial Documents” or by accessing Western Liberty’s website at www.westernlibertybank.com under the tab “Investor Relations” and then under the heading “Financial Information”.

Western Alliance, Western Liberty and their respective directors, executive officers and certain other members of management and employees may be soliciting proxies from Western Liberty stockholders in favor of the merger with Western Alliance. Information regarding the persons who may, under the rules of the SEC, be considered participants in the solicitation of the Western Liberty stockholders in connection with the proposed merger will be set forth in the proxy statement/prospectus when it is filed with the SEC.

You can find information about the executive officers and directors of Western Alliance in its Annual Report on Form 10-K for the year ended December 31, 2011 and in its definitive proxy statement filed with the SEC on March 16, 2012, as supplemented. You can find information about Western Liberty’s executive officers and directors in its Annual Report on Form 10-K for the year ended December 31, 2011 and in its definitive proxy statement filed with the SEC on April 26, 2012. You can obtain free copies of these documents from Western Alliance or Western Liberty using the information above.

This communication shall not constitute an offer to sell or the solicitation of an offer to sell or the solicitation of an offer to buy any securities.

Cautionary Note Regarding Forward-Looking Statements

This release 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. The forward-looking statements contained herein reflect our current views about future events and financial performance and are subject to risks, uncertainties, assumptions and changes in circumstances that may cause our actual results to differ significantly from historical results and those expressed in any forward-looking statement. Some factors that could cause actual results to differ materially from historical or expected results include: failure of the parties to satisfy the closing conditions in either merger agreement in a timely manner or at all; failure of the shareholders of Western Liberty to approve the applicable merger agreement; failure to obtain governmental approvals for the merger; disruptions to the parties’ businesses as a result of the announcement and pendency of the merger; costs or difficulties related to the integration of the business following the merger; factors listed in the Form 10-K as filed with the SEC; changes in general economic conditions, either nationally or locally in the areas in which we conduct or will conduct our business; inflation, interest rate, market and monetary fluctuations; increases in competitive pressures among financial institutions and businesses offering similar products and services; higher defaults on our loan portfolio than we expect; changes in management’s estimate of the adequacy of the allowance for credit losses; legislative or regulatory changes or changes in accounting principles, policies or guidelines; management’s estimates and projections of interest rates and interest rate policy; the execution of our business plan; and other factors affecting the financial services industry generally or the banking industry in particular.

We do not intend and disclaim any duty or obligation to update or revise any industry information or forward-looking statements set forth in this press release to reflect new information, future events or otherwise.

Contacts

Western Alliance Bancorporation

Media:
Robert Sarver, 602-952-5445

Investors:
Dale Gibbons, 602-952-5476
or
Western Liberty Bancorp
William Martin, 702-966-7400

http://www.businesswire.com/news/home/20120817005769/en/Western-Alliance-Bancorporation-Acquire-Western-Liberty-Bancorp

[Enterprising Investor]

WAL buys WLBC in Las Vegas for $55 million (8/17/12)

Chris Sieroty
LAS VEGAS REVIEW-JOURNAL

Western Alliance Bancorporation, the parent company of Bank of Nevada, on Friday agreed to acquire Western Liberty Bancorp Inc. for $55 million.

"This transaction further strengthens our capital position, increases our core deposits, and enables us to further leverage our existing infrastructure in Las Vegas," said Robert Sarver, chairman and CEO of Phoenix-based Western Alliance. "We expect the transaction to be immediately accretive to our tangible book assets."

Service1st Bank of Nevada, one of two Western Liberty subsidiaries, will merge with Bank of Nevada when the deal closes. The other subsidiary, Las Vegas Sunset Properties, is also being acquired in the deal but its future was not discussed in the merger announcement.

Sarver expects completion of the deal by year's end.

The merger was announced three days after Western Liberty posted a loss of $1.5 million, or 11 cents per share, in the second quarter, compared with a loss of $4.6 million, or 30 cents a share, for the same period last year.

"With significant customer overlap between Bank of Nevada and Service1st Bank, we anticipate quickly integrating the two institutions," said Bruce Hendricks, CEO of Bank of Nevada. The deal has been approved by directors of each company, but it must pass muster with Western Liberty stockholders and with banking regulators.

William Martin, CEO of Las Vegas-based Western Liberty, said being acquired by Western Alliance would "add greater lending capacity" and new opportunities for growth.

"As we considered all of our strategic growth options, it became clear that choosing to partner with Western Alliance can provide the greatest benefits and opportunities for our stockholders, employees, customers and the communities we serve," Martin said.

He said it was "way too early" to discuss his role with the new company.

Western Liberty, with $199 million in assets, also announced early Friday it received state regulatory approval to close one of two bank branches in Las Vegas. The Service1st branch at 8965 S. Eastern Ave. will close Sept. 14. It enters the merger with one branch at 8349 W. Sunset Road .

In Nevada, the commissioner of the state's Division of Financial Institutions must approve branch closures.

Martin said the Eastern Avenue branch opened in 2007, but "it has never grown enough to support itself."

It had about $36 million in deposits, compared with $96 million at the bank's main office.

Costs incurred by the branch closing and staff reductions were not disclosed.

Service 1st Bank opened in January 2007. Western Liberty Bancorp was formed in October 2010 with its acquisition of Service1st Bank.

Western Liberty also owns Las Vegas Sunset Properties, established in October to hold problem loans and foreclosed real estate from Service1st Bank. The purchase price was about $15.5 million, including $4 million for the Other Real Estate Owned, OREO, properties and $11.5 million for the loan assets.

Contact reporter Chris Sieroty at [e-mail] or 702-477-3893.

http://www.lvrj.com/business/service1st-bank-of-nevada-to-close-one-of-two-las-vegas-branches-166600046.html

[Enterprising Investor]

WAL Reports Second Quarter 2012 Net Income of $14.0 Million, or $0.15 Per Share (7/19/12)

Loan Growth of $239 Million

Deposit Growth of $102 Million

SBLF Dividend Rate to Decline to 1% in Third Quarter

PHOENIX--(BUSINESS WIRE)--Western Alliance Bancorporation (NYSE:WAL) announced today its financial results for the second quarter 2012

Second Quarter 2012 Highlights:

Net income of $14.0 million, an increase of 23.9% compared to $11.3 million for the first quarter 2012 and an increase of 126% compared to $6.2 million for the second quarter 2011

Earnings per share of $0.15, an increase of 25% compared to $0.12 per share for the first quarter 2012 and an increase of three times compared to $0.05 per share in the second quarter 2011

Pre-tax, pre-provision operating earnings of $32.1 million, up from $31.7 million in first quarter 2012 and up 16.3% from $27.6 million in second quarter 2011

Net interest margin of 4.46% compared to 4.53% in the first quarter of 2012 and 4.34% in the second quarter 2011

Total loans of $5.16 billion, up $239 million from March 31, 2012, and up $753 million from June 30, 2011

Total deposits of $6.0 billion, up $102 million from March 31, 2012 and up $413 million from June 30, 2011

Nonperforming assets (nonaccrual loans and repossessed assets) decreased to 2.5% of total assets from 2.7% in first quarter 2012 and 3.1% in second quarter 2011

Net loan charge-offs (annualized) to average loans outstanding declined to 1.11% from 1.18% in the first quarter 2012 and 1.26% in the second quarter of 2011

Tier I Leverage capital of 9.7% and Total Risk-Based Capital ratio of 12.3%, compared to 9.5% and 13.1% a year ago

Total equity of $672.1 million, up $18.0 million from March 31, 2012 and up $35.4 million from December 31, 2011

Financial Performance

“Our strong growth trends continued in the second quarter with record revenue during the period and tripling our earnings per share from a year ago,” said Robert Sarver, Chairman and Chief Executive Officer of Western Alliance Bancorporation. “With over $300 million in both loan and deposit growth in 2012, we have maintained our earnings power momentum while continuing to improve the asset quality composition of our balance sheet. From our success in achieving the goals as a participant in the Small Business Lending Fund, we expect to see the dividend rate on our preferred stock fall to one percent this quarter from 3.7 percent during the second.”

Ken Vecchione, President and Chief Operating Officer, added, “Our record revenue, coupled with improved efficiency, drove our pre-tax, pre-credit income to $32.1 million during the second quarter, a new high.1 This quarter, REO valuations/losses declined to less than $1 million as some properties in our REO portfolio experienced increases in appraised values. Offsetting the good news this quarter, charge-offs and the provision for loan losses remained flat to the prior quarter. Nevada asset quality has not exhibited the same rate of improvement as California or Arizona.”

Western Alliance Bancorporation reported net income of $14.0 million, or $0.15 per share, in the second quarter 2012 including a $0.6 million after-tax charge from repossessed assets valuations/sales and a $1.1 million after tax gain from securities sales.

Total loans increased $239 million, or 4.9 percent, to $5.16 billion at June 30, 2012 from $4.93 billion on March 31, 2012. This increase was primarily driven by growth in commercial and industrial loans, commercial leases and commercial real estate loans. Loans increased $753 million from June 30, 2011.

Total deposits increased $102 million, or 1.7 percent, to $6.0 billion at June 30, 2012 from $5.90 billion at March 31, 2012, with growth primarily in money market accounts, non-interest bearing demand and interest bearing demand partially offset by declines in certificates of deposit. Deposits increased $413 million from June 30, 2011.

Income Statement

Net interest income was $70.8 million in the second quarter 2012, an increase of 1.0 percent compared to the first quarter 2012 and 11.9 percent compared to the second quarter 2011. The Company’s net interest margin in the second quarter 2012 was 4.46 percent compared to 4.53 percent in the first quarter 2012 and 4.34 percent in the second quarter 2011.

Operating non-interest income was $5.8 million for the second quarter 2012, almost flat from $5.9 million for the first quarter of 2012 and a decrease from $6.8 million for the second quarter of 2011.1

Net revenue was $76.6 million for the second quarter 2012, a 1.0 percent increase from $75.9 million for the first quarter of 2012 and 9.3 percent from $70.1 million for the second quarter 2011.1

Operating non-interest expense was $44.5 million for the second quarter 2012, compared to $44.2 million for the first quarter of 2012 and $42.3 million for the second quarter of 2011.1 The Company’s operating efficiency ratio on a tax equivalent basis was 56.4 percent for the second quarter 2012, improved from 60.2 percent for the second quarter 2011.1

The Company had 953 full-time equivalent employees June 30, 2012, compared to 908 one year ago.

A key performance metric for the Company is its pre-tax, pre-provision operating earnings, which it defines as net operating revenue less its operating non-interest expense. For the second quarter 2012, the Company’s performance on this metric was $32.1 million, up from $31.7 million in the first quarter 2012 and $27.6 million in the second quarter 2011.1

The provision for credit losses was $13.3 million for the second quarter 2012 compared to $13.1 million for the first quarter 2012. The provision for the second quarter of 2011 was $11.9 million. Net loan charge-offs in the second quarter 2012 were $13.9 million, or 1.11 percent of average loans (annualized), down from 1.18 percent of average loans (annualized) for the first quarter 2012. Net charge-offs for the second quarter 2011 were $13.6 million or 1.26% of average loans (annualized).

Nonaccrual loans increased slightly to $104.3 million during the quarter. Loans past due 90 days and still accruing interest totaled $0.8 million at June 30, 2012, down from $1.0 million at March 31, 2012 and $1.1 million at June 30, 2011. Loans past due 30-89 days totaled $13.8 million at quarter end, up from $12.0 million at March 31, 2012 and from $11.6 million at June 30, 2011.

Classified assets to Tier I capital plus allowance for credit losses, a common regulatory measure of asset quality, improved to 42 percent at June 30, 2012 from 46 percent at June 30, 2011.1

Net loss on sales and valuation of repossessed assets (primarily other real estate) was $0.9 million for the second quarter of 2012 compared to $2.7 million for the first quarter 2012 and $8.6 million in the second quarter 2011. At June 30, 2012, other repossessed assets were valued at $77 million compared to $81 million at March 31, 2012 and $86 million one year ago.

Balance Sheet

Gross loans totaled $5.16 billion at June 30, 2012, an increase of $239 million from March 31, 2012 and an increase of $753 million from $4.41 billion at June 30, 2011. At June 30, 2012 the allowance for credit losses was 1.89 percent of total loans, down from 1.99 percent at March 31, 2012 and 2.37 percent at June 30, 2011.

Deposits totaled $6.0 billion at June 30, 2012, an increase of $102 million from $5.90 billion at March 31, 2012 and an increase of $413 million from $5.59 billion at June 30, 2011.

Non-interest bearing deposits increased $84 million at June 30, 2012 from March 31, 2012 and increased $325 million from $1.52 billion at June 30, 2011. Non-interest bearing deposits comprised 30.7 percent of total deposits at June 30, 2012, compared to 27.1 percent a year ago.

At June 30, 2012, the Company’s loans were 86.1 percent of deposits compared to 83.5 percent at March 31, 2012 and 79.0 percent at June 30, 2011.

Stockholders’ equity at June 30, 2012 increased to $672.1 million from $654.1 million at March 31, 2012. At June 30, 2012, tangible common equity was 7.0 percent of tangible assets1 and total risk-based capital was 12.3 percent of risk-weighted assets.

Total assets increased to $7.16 billion at June 30, 2012 from $6.93 billion at March 31, 2012 and increased 10.0 percent from $6.51 billion at June 30, 2011.

Operating Unit Highlights

Bank of Nevada reported that loans increased by $76 million during the second quarter of 2012, primarily due to intercompany transfers from Western Alliance Bank, and increased $147 million during the last 12 months to $2.0 billion at June 30, 2012. Deposits decreased slightly in the second quarter of 2012 and decreased $18 million over the last twelve months to $2.43 billion. Net income for Bank of Nevada was $3.8 million for the second quarter 2012, compared with net income of $1.0 million for the first quarter of 2012 and net income of $3.7 million during the second quarter 2011.

Western Alliance Bank reported loan growth of $74 million during the second quarter 2012 and $354 million during the last 12 months to $1.78 billion. Deposits increased $45 million in the second quarter and $238 million during the last 12 months to $2.0 billion. Net income for Western Alliance Bank was $7.8 million during the second quarter 2012 compared with net income of $9.8 million during the first quarter of 2012 and net income of $3.8 million during the second quarter 2011.

The Torrey Pines Bank segment, which excludes discontinued operations, reported that loans increased $89 million during the second quarter 2012 and $251 million during the last 12 months to $1.42 billion. Deposits increased $62 million in the second quarter 2012 and $211 million over the last 12 months to $1.59 billion. Net income for Torrey Pines Bank was $5.3 million during the second quarter 2012 compared with net income of $5.8 million for the first quarter of 2012 and net income of $4.2 million during the second quarter 2011.

Attached to this press release is summarized financial information for the quarter ended June 30, 2012.

Conference Call and Webcast

Western Alliance Bancorporation will host a conference call and live webcast to discuss its second quarter 2012 financial results at 12:00 p.m. ET on Friday, July 20, 2012. Participants may access the call by dialing 1-866-843-0890 and using passcode: 9684410 or via live audio webcast using the website link: https://services.choruscall.com/links/wal120720.html. The webcast is also available via our website at www.westernalliancebancorp.com. Participants should log in at least 15 minutes early to receive instructions. The call will be recorded and made available for replay after 2:00 p.m. ET July 20th through September 4th at 9:00 a.m. ET by dialing 1-877-344-7529 using the conference number 10016260.

About Western Alliance Bancorporation

Western Alliance Bancorporation is the parent company of Bank of Nevada, Western Alliance Bank doing business as Alliance Bank of Arizona and First Independent Bank, Torrey Pines Bank, and Shine Investment Advisory Services. These dynamic organizations provide a broad array of deposit and credit services to clients in Nevada, Arizona and California, and investment services in Colorado. Staffed with experienced financial professionals, these organizations deliver a broader product array and larger credit capacity than community banks, yet are empowered to be more responsive to customers' needs than larger institutions. Additional investor information can be accessed on the Investor Relations page of the company's website, www.westernalliancebancorp.com.

Cautionary Note Regarding Forward-Looking Statements

This release 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. The forward-looking statements contained herein reflect our current views about future events and financial performance and are subject to risks, uncertainties, assumptions and changes in circumstances that may cause our actual results to differ significantly from historical results and those expressed in any forward-looking statement. Some factors that could cause actual results to differ materially from historical or expected results include: factors listed in the Form 10-K as filed with the Securities and Exchange Commission; changes in general economic conditions, either nationally or locally in the areas in which we conduct or will conduct our business; inflation, interest rate, market and monetary fluctuations; increases in competitive pressures among financial institutions and businesses offering similar products and services; higher defaults on our loan portfolio than we expect; changes in management’s estimate of the adequacy of the allowance for credit losses; legislative or regulatory changes or changes in accounting principles, policies or guidelines; management’s estimates and projections of interest rates and interest rate policy; the execution of our business plan; and other factors affecting the financial services industry generally or the banking industry in particular.

We do not intend and disclaim any duty or obligation to update or revise any industry information or forward-looking statements set forth in this press release to reflect new information, future events or otherwise.

This press release contains both financial measures based on accounting principles generally accepted in the United States (“GAAP”) and non-GAAP based financial measures, which are used where management believes it to be helpful in understanding Western Alliance Bancorporation’s results of operations or financial position. Where non-GAAP financial measures are used, the comparable GAAP financial measure, as well as the reconcilement to the comparable GAAP financial measure, can be found in this press release. These disclosures should not be viewed as a substitute for operating results determined in accordance with GAAP, nor are they necessarily comparable to non-GAAP performance measures that may be presented by other companies.

http://www.businesswire.com/news/home/20120719006508/en/Western-Alliance-Reports-Quarter-2012-Net-Income

[Enterprising Investor]

WAL Reports First Quarter 2012 Net Income of $11.3 Million, or $0.12 Per Share (4/19/12)

•Loan Growth of $146 million

•Deposit Growth of $241 million

•SBLF Dividend Rate to Decline to 1% in Third Quarter

•Interest Margin of 4.53%

PHOENIX--(BUSINESS WIRE)--Western Alliance Bancorporation (NYSE:WAL) announced today its financial results for the first quarter 2012.

First Quarter 2012 Highlights:

•Net income of $11.3 million, including loss on repossessed assets valuations/sales of $2.7 million

•Earnings per share of $0.12, compared to $0.07 per share for the fourth quarter 2011 and $0.03 per share in the first quarter 2011

•Pre-tax, pre-provision operating earnings of $31.7 million, up from $31.5 million in fourth quarter 2011 and up 25.3% from $25.3 million in first quarter 20111

•Total loans of $4.93 billion, up $146 million from December 31, 2011, approximately half of which were investment grade municipal leases acquired from another financial institution

•Total deposits of $5.90 billion, up $241 million from December 31, 2011

•Nonperforming assets (nonaccrual loans and repossessed assets) increased to 2.7% of total assets from 2.6% in fourth quarter 2011 and decreased from 3.3% in first quarter 2011

•Net charge-offs (annualized) to average loans outstanding declined to 1.18% from 1.24% in the fourth quarter 2011 and 1.39% in the first quarter of 2011.

•Tier I Leverage capital of 9.8% and Total Risk-Based Capital ratio of 12.5%, compared to 9.6% and 13.2% a year ago

•Total equity of $654.1 million, up $17.4 million from December 31, 2011

Financial Performance

“We’re off to a strong start in 2012, with record top line revenue and net income more than double the first quarter of last year,” said Robert Sarver, Chairman and Chief Executive Officer of Western Alliance Bancorporation. “Our balance sheet momentum continues with double digit loan and deposit growth during the quarter on an annualized basis. I’m particularly proud of our growth in qualifying loans for the Small Business Lending Fund, which is a ‘win-win’ for businesses by providing them additional liquidity and our shareholders with lower preferred dividend service requirements.”

Ken Vecchione, President and Chief Operating Officer, added, “Our core earnings, defined as Pre-tax, Pre-provision income, grew again for the eleventh consecutive quarter.1 Contributing to the rise in income, net interest margin increased from prior quarter while loan growth continues its acceleration from prior year. This quarter Western Alliance’s ROA grew to 67 bps, double the performance of last year. In April, Torrey Pines Bank opened its second Los Angeles branch as we begin to penetrate the attractive Los Angeles market.”

Western Alliance Bancorporation reported net income of $11.3 million, or $0.12 per share in the first quarter 2012 including $1.3 million after-tax charge from repossessed assets valuations/sales.

Total loans increased $146 million, or 3.1 percent, to $4.93 billion at March 31, 2012 from $4.78 billion on December 31, 2011. This increase was driven by growth in commercial and industrial loans, commercial leases and commercial real estate loans. Loans increased $648 million from March 31, 2011.

Qualifying Small Business Fund Loans grew $82 million during the quarter to $169 million or 11.2% from the baseline at March 31, 2012.

Total deposits increased $241 million, or 4.3 percent, to $5.90 billion at March 31, 2012 from $5.66 billion at December 31, 2011, with growth primarily in non-interest bearing demand, interest bearing demand and money market accounts, partially offset by declines in savings accounts and certificates of deposit. Deposits increased $402 million from March 31, 2011.

Income Statement

Net interest income of $70.1 million in the first quarter 2012 increased by 2.0 percent compared to the fourth quarter 2011 and 14.7 percent compared to the first quarter 2011. The net interest margin in the first quarter 2012 was 4.53 percent compared to 4.51 percent in the fourth quarter 2011 and 4.35 percent in the first quarter 2011.

Operating non-interest income was $5.9 million for the first quarter 2012, an increase from $5.6 million for the fourth quarter of 2011 and decrease from $6.0 million for the first quarter of 2011.1

Net revenue was $75.9 million for the first quarter 2012, a 2.2 percent increase from $74.3 million for the fourth quarter of 2011 and 13.1 percent from $67.1 million for the first quarter 2011.1

Operating non-interest expense was $44.2 million for the first quarter 2012, compared to $42.8 million for the fourth quarter of 2011 and $41.8 million for the first quarter of 2011.1 The Company’s operating efficiency ratio on a tax equivalent basis was 57.0 percent for the first quarter 2012, improved from 61.9 percent for the first quarter 2011.1

The Company had 951 full-time equivalent employees at March 31, 2012, compared to 894 one year ago.

A key performance metric for the Company is its pre-tax, pre-provision operating earnings, which it defines as net operating revenue less its operating non-interest expense. For the first quarter 2012, the Company’s performance on this metric was $31.7 million, up from $31.5 million in the fourth quarter 2011 and $25.3 million in the first quarter 2011.1

The provision for credit losses remained flat at $13.1 million for the first quarter 2012 compared to the fourth quarter 2011. The provision for the first quarter of 2011 was $10.0 million. Net loan charge-offs in the first quarter 2012 were $14.1 million, or 1.18 percent of average loans (annualized), down from 1.24 percent of average loans (annualized) for the fourth quarter 2011. Net charge-offs for the first quarter 2011 were $14.6 million or 1.39% of average loans (annualized).

Nonaccrual loans increased $13.1 million to $103.5 million during the quarter as certain loans were placed on nonaccrual status despite adequate cash flow and current in payments but deficient in collateral coverage. Loans past due 90 days and still accruing totaled $1.0 million at March 31, 2012, down from $2.6 million at December 31, 2011 and $1.1 million at March 31, 2011. Loans past due 30-89 days totaled $12.0 million at quarter end, down from $13.7 million at December 31, 2011 and down from $30.7 million at March 31, 2011.

Classified assets to Tier I capital plus allowance for credit losses, a common regulatory measure of asset quality, improved to 37 percent at March 31, 2012 from 48 percent at March 31, 2011 and 39 percent at December 31, 2011.1

Net loss on sales and valuation of repossessed assets (primarily other real estate) was $2.7 million for the first quarter of 2012 compared to $7.7 million for the fourth quarter 2011 and $6.1 million in the first quarter 2011. At March 31, 2012, other repossessed assets were valued at $81 million compared to $89 million at December 31, 2011 and $98 million one year ago.

Balance Sheet

Gross loans totaled $4.93 billion at March 31, 2012, an increase of $146 million from December 31, 2011 and an increase of $648 million from $4.28 billion at March 31, 2011. At March 31, 2012 the allowance for credit losses was 1.99 percent of total loans down from 2.07 percent at December 31, 2011 and 2.48 percent at March 31, 2011.

Deposits totaled $5.90 billion at March 31, 2012, an increase of $241 million from $5.66 billion at December 31, 2011 and an increase of $402 million from $5.50 billion at March 31, 2011.

Non-interest bearing deposits increased $199 million at March 31, 2012 from December 31, 2011 and increased $303 million from $1.46 billion at March 31, 2011. Non-interest bearing deposits comprised 29.8 percent of total deposits at March 31, 2012, compared to 26.5 percent a year ago.

At March 31, 2012, the Company’s loans were 83.5 percent of deposits compared to 84.5 percent at December 31, 2011 and 77.8 percent at March 31, 2011.

Stockholders’ equity at March 31, 2012 increased to $654.1 million from $636.7 million at December 31, 2011. At March 31, 2012, tangible common equity was 6.9 percent of tangible assets1 and total risk-based capital was 12.5 percent of risk-weighted assets.

Total assets increased to $6.93 billion at March 31, 2012 from $6.84 billion at December 31, 2011 and increased 8.1 percent from $6.40 billion at March 31, 2011.

Operating Unit Highlights

Bank of Nevada reported that loans increased by $67 million during the first quarter of 2012, primarily due to an intercompany transfer from Torrey Pines Bank, and increased $54 million during the last 12 months to $1.93 billion at March 31, 2012. Deposits increased $58 million in the first quarter of 2012 and increased $45 million over the last twelve months to $2.44 billion. Net income for Bank of Nevada was $1.0 million for the first quarter 2012, compared with net income of $1.2 million for the fourth quarter of 2011 and net income of $0.9 million during the first quarter 2011.

Western Alliance Bank reported loan growth of $65 million during the first quarter 2012 and $365 million during the last 12 months to $1.71 billion. Deposits increased $76 million in the first quarter and $261 million during the last 12 months to $1.95 billion. Net income for Western Alliance Bank was $9.8 million during the first quarter 2012 compared with net income of $5.6 million during the fourth quarter of 2011 and net income of $4.9 million during the first quarter 2011.

The Torrey Pines Bank segment, which excludes discontinued operations, reported that loans increased $14 million during the first quarter 2012 and $229 million during the last 12 months to $1.33 billion. Deposits increased $114 million in the first quarter 2012 and over the last 12 months to $1.53 billion. Net income for Torrey Pines Bank was $5.8 million during the first quarter 2012 compared with net income of $5.9 million for the fourth quarter of 2011 and net income of $4.0 million during the first quarter 2011. Torrey Pines Bank opened its second branch in the Los Angeles area in April 2012.

Attached to this press release is summarized financial information for the quarter ended March 31, 2012.

Conference Call and Webcast

Western Alliance Bancorporation will host a conference call and live webcast to discuss its first quarter 2012 financial results at 12:00 p.m. ET on Friday, April 20, 2012. Participants may access the call by dialing 1-866-843-0890 and using passcode: 9945126 or via live audio webcast using the website link: https://services.choruscall.com/links/wal120420pm.html. The webcast is also available via our website at www.westernalliancebancorp.com. Participants should log in at least 15 minutes early to receive instructions. The call will be recorded and made available for replay after 2:00 p.m. ET April 20th through April 30th at 9:00 a.m. ET by dialing 1-877-344-7529 using the conference number 10012763.

About Western Alliance Bancorporation

Western Alliance Bancorporation is the parent company of Bank of Nevada, Western Alliance Bank doing business as Alliance Bank of Arizona and First Independent Bank, Torrey Pines Bank, and Shine Investment Advisory Services. These dynamic organizations provide a broad array of deposit and credit services to clients in Nevada, Arizona and California, and investment services in Colorado. Staffed with experienced financial professionals, these organizations deliver a broader product array and larger credit capacity than community banks, yet are empowered to be more responsive to customers' needs than larger institutions. Additional investor information can be accessed on the Investor Relations page of the company's website, www.westernalliancebancorp.com.

http://www.businesswire.com/news/home/20120419007044/en/Western-Alliance-Reports-Quarter-2012-Net-Income

[Enterprising Investor]

WAL Reports Fourth Quarter 2011 Earnings of $7.1 million (1/19/12)

PHOENIX--(BUSINESS WIRE)--Western Alliance Bancorporation (NYSE:WAL) announced today its financial results for the fourth quarter 2011.

“Fourth quarter results will position the Company for success in 2012 by riding the momentum of higher loan growth, along with a stable net interest margin, expense management, and continued improvement in asset quality.”

.Fourth Quarter 2011 Highlights:

•Net income of $7.1 million, including loss on repossessed assets valuations/sales of $5.0 million, net of tax

•Earnings per share of $0.07, compared to $0.04 per share for the third quarter 2011

•Pre-tax, pre-provision operating earnings of $31.5 million, up 12.1% from $28.1 million in third quarter 2011 and up 26.0% from $25.0 million in fourth quarter 2010

•Net interest margin of 4.51% compared to 4.29% in the third quarter 2011 and 4.26% in the fourth quarter 2010

•Total loans of $4.78 billion, up $254 million from September 30, 2011 and up $540 million from December 31, 2010

•Total deposits of $5.66 billion, up $26 million from September 30, 2011 and up $320 million from December 31, 2010

•Nonperforming assets (nonaccrual loans and repossessed assets) declined to 2.6% of total assets from 3.1% in third quarter 2011 and 3.6% in fourth quarter 2010

•Net loan charge-offs of $14.1 million, down from $15.3 million for the third quarter 2011 and from $15.9 million in fourth quarter 2010

•Tier I Leverage capital of 9.8% and Total Risk-Based Capital ratio of 12.6%, compared to 9.5% and 13.2% a year ago

•Total equity of $636.7 million, up $4.4 million from September 30, 2011 and up $34.5 million from December 31, 2010
Financial Performance

Robert Sarver, Chairman and Chief Executive Officer of Western Alliance Bancorporation, commented, “We are very pleased with our 2011 results as we substantially increased loans to small businesses, produced consistent quarterly net income while growing net interest margin and improving our efficiency ratio. Asset quality improved throughout the year as nonaccrual, watch, and classified loans all declined from the prior year. I am proud of the people at Western Alliance Bancorporation and the leadership they demonstrated in accomplishing these results.” Mr. Sarver also noted, “Fourth quarter results will position the Company for success in 2012 by riding the momentum of higher loan growth, along with a stable net interest margin, expense management, and continued improvement in asset quality.”

Ken Vecchione, President and Chief Operating Officer, added, “As the economy continues to recover, Western Alliance Bancorporation stands ready to support the businesses and communities we serve by providing continued access to credit. Our capital strength and commitment to serve our customers leads us to be optimistic regarding our loan and deposit pipelines in 2012.” Mr. Vecchione further added, “Our disciplined approach to pricing both loans and deposits, and the management of our investment portfolio produced a fourth quarter net interest margin of 4.51 percent and full year net interest margin of 4.37 percent. Higher net interest income and contained expenses supported our record $31.5 million pre-tax, pre-credit income.1 Our core earnings momentum and favorable trends in asset quality, position us for increased operating net income in future quarters.”

Western Alliance Bancorporation reported net income of $7.1 million, or $0.7 per share in the fourth quarter 2011. Income from continuing operations before income tax was $9.6 million, including pre-tax net unrealized losses from assets/liabilities measured at fair value of $0.6 million. The income included a $0.06 per common share charge from repossessed assets valuations/sales.

Full year net income was $31.5 million compared to a $7.2 million loss in 2010. Full year earnings per share were $0.19 compared to a $0.23 per share loss for 2010.

Total loans increased $254 million to $4.78 billion at December 31, 2011 from $4.53 billion on September 30, 2011. This increase was driven by growth in commercial and industrial loans and commercial real estate loans. Loans increased $540 million, or 12.7 percent from December 31, 2010.

Total deposits increased $26 million to $5.66 billion at December 31, 2011 from $5.63 billion at September 30, 2011, with growth primarily in non-interest bearing demand, interest bearing demand and savings and money market accounts, partially offset by declines in certificates of deposit. Deposits increased $320 million, or 6.0 percent from December 31, 2010.

Income Statement

Net interest income of $68.7 million in the fourth quarter 2011 increased by 6.4 percent compared to the third quarter 2011 and 12.8 percent compared to the fourth quarter 2010. The net interest margin in the fourth quarter 2011 was 4.51 percent compared to 4.29 percent in the third quarter 2011 and 4.26 percent in the fourth quarter of 2010.

Operating non-interest income was $5.6 million for the fourth quarter 2011,1 a decrease from $5.9 million for the third quarter of 2011 and $6.0 million for the fourth quarter of 2010.1

Net revenue was $74.3 million for the fourth quarter 2011, a 5.4 percent increase from $70.5 million for the third quarter of 2011 and 11.1 percent from $66.9 million for the fourth quarter 2010.1

Operating non-interest expense was $42.8 million for the fourth quarter 2011, compared to $42.4 million for the third quarter of 2011 and $41.9 million for the fourth quarter of 2010.1 The Company’s operating efficiency ratio on a tax equivalent basis was 56.5 percent for the fourth quarter 2011, improved from 62.2 percent for the fourth quarter 2010.1

The Company had 942 full-time equivalent employees at December 31, 2011, compared to 908 one year ago.

A key performance metric for the Company is its pre-tax, pre-provision operating earnings, which it defines as net operating revenue less its operating non-interest expense.1 For the fourth quarter 2011, the Company’s performance on this metric was $31.5 million, up from $28.1 million in the third quarter 2011 and $25.0 million in the fourth quarter 2010.1

The provision for credit losses was $13.1 million for the fourth quarter 2011 compared to $11.2 million for the third quarter 2011. The provision for the fourth quarter of 2010 was $18.4 million. Net loan charge-offs in the fourth quarter 2011 were $14.1 million or 1.24 percent of average loans (annualized), down from $15.3 million or 1.40 percent of average loans (annualized) for the third quarter 2011 due to decreased residential real estate loan charge-offs. Net charge-offs for the fourth quarter 2010 were $15.9 million or 1.52% of average loans (annualized).

Nonaccrual loans and repossessed assets decreased to $179.5 million or 2.6 percent of total assets at December 31, 2011, from $200.4 million or 3.1 percent of total assets at September 30, 2011, and from $224.7 million or 3.6 percent of total assets at December 31, 2010. Loans past due 90 days and still accruing totaled $2.6 million at December 31, 2011, up from $2.1 million at September 30, 2011 and $1.5 million at December 31, 2010. Loans past due 30-89 days totaled $13.7 million at quarter end, up slightly from $12.4 million at September 30, 2011 and down from $18.2 million at December 31, 2010.

Classified assets to Tier I capital plus allowance for credit losses, a common regulatory measure of asset quality, improved to 39 percent at December 31, 2011 from 52 percent at December 31, 2010.1

Net loss on sales and valuation of repossessed assets (primarily other real estate) was $7.7 million for the fourth quarter 2011 compared to $2.1 million in the prior quarter. At December 31, 2011, other repossessed assets were valued at $89 million compared to $87 million at September 30, 2011 and $108 million one year ago.

Balance Sheet

Gross loans totaled $4.78 billion at December 31, 2011, an increase of $254 million from September 30, 2011 and an increase of $540 million from $4.24 billion at December 31, 2010. At December 31, 2011 the allowance for credit losses was 2.07 percent of total loans down from 2.21 percent at September 30, 2011 and 2.61 percent at December 31, 2010.

Deposits totaled $5.66 billion at December 31, 2011, an increase of $26 million from $5.63 billion at September 30, 2011 and an increase of $320 million from $5.34 billion at December 31, 2010.

Non-interest bearing deposits increased $39 million at December 31, 2011 from September 30, 2011 and increased $115 million from $1.44 billion at December 31, 2010. Non-interest bearing deposits comprised 27.5 percent of total deposits at December 31, 2011, compared to 27.0 percent a year ago.

At December 31, 2011, the Company’s loans were 84.5 percent of deposits compared to 80.4 percent at September 30, 2011 and 79.4 percent at December 31, 2010.

Stockholders’ equity at December 31, 2011 increased to $636.7 million from $632.3 million at September 30, 2011. At December 31, 2011, tangible common equity was 6.8 percent of tangible assets1 and total risk-based capital was 12.6 percent of risk-weighted assets.

Total assets increased to $6.84 billion at December 31, 2011 from $6.55 billion at September 30, 2011 and increased 11 percent from $6.19 billion at December 31, 2010.

Operating Unit Highlights

Bank of Nevada reported that loans increased by $7 million during the fourth quarter of 2011 and declined $55 million during the last 12 months to $1.86 billion at December 31, 2011. Deposits decreased $89 million in the fourth quarter of 2011 and decreased $11 million over the last twelve months to $2.38 billion. Net income for Bank of Nevada was $1.2 million for the fourth quarter 2011, compared with net income of $1.7 million for the third quarter of 2011 and net loss of $5.8 million during the fourth quarter 2010.

Western Alliance Bank reported loan growth of $160 million during the fourth quarter 2011 and $340 million during the last 12 months to $1.64 billion. Deposits increased $109 million in the fourth quarter and $206 million during the last 12 months to $1.88 billion. Net income for Western Alliance Bank was $5.6 million during the fourth quarter 2011 compared with net income of $5.5 million during the third quarter of 2011 and net income of $3.6 million during the fourth quarter 2010.

The Torrey Pines Bank segment, which excludes discontinued operations, reported that loans increased $86 million during the fourth quarter 2011 and $255 million during the last 12 months to $1.32 billion. Deposits increased $17 million in the fourth quarter 2011 and $135 million over the last 12 months to $1.42 billion. Net income for Torrey Pines Bank was $5.9 million during the fourth quarter 2011 compared with net income of $5.4 million for the third quarter of 2011 and net income of $3.2 million during the fourth quarter 2010.

Attached to this press release is summarized financial information for the quarter ended December 31, 2011.

Conference Call and Webcast

Western Alliance Bancorporation will host a conference call and live webcast to discuss its fourth quarter 2011 financial results at 12:00 p.m. ET on Friday, January 20, 2012. Participants may access the call by dialing 1-866-843-0890 and using passcode: 2758674 or via live audio webcast using the website link: https://services.choruscall.com/links/wal120120.html. The webcast is also available via our website at www.westernalliancebancorp.com. Participants should log in at least 15 minutes early to receive instructions. The call will be recorded and made available for replay after 2:00 p.m. ET January 20th through January 31st at 2:00 p.m. ET by dialing 1-877-344-7529 using the conference number 10008804.

About Western Alliance Bancorporation

Western Alliance Bancorporation is the parent company of Bank of Nevada, Western Alliance Bank doing business as Alliance Bank of Arizona and First Independent Bank, Torrey Pines Bank, and Shine Investment Advisory Services. These dynamic organizations provide a broad array of deposit and credit services to clients in Nevada, Arizona and California, and investment services in Colorado. Staffed with experienced financial professionals, these organizations deliver a broader product array and larger credit capacity than community banks, yet are empowered to be more responsive to customers' needs than larger institutions. Additional investor information can be accessed on the Investor Relations page of the company's website, www.westernalliancebancorp.com.

http://www.businesswire.com/news/home/20120119006550/en/Western-Alliance-Reports-Fourth-Quarter-2011-Net

[Enterprising Investor]

WAL Reports Second Quarter 2011 Earnings of $6.2 Million (6/21/11)

PHOENIX--(BUSINESS WIRE)--Western Alliance Bancorporation (NYSE:WAL) announced today its financial results for the second quarter 2011.

Second Quarter 2011 Highlights:

•Net income of $0.05 per common share compared to net income of $0.03 for the first quarter 2011 and a $0.02 net loss for the second quarter of 2010

•Pre-tax, pre-provision operating earnings of $27.6 million, up 9.0% from $25.3 million in first quarter 2011 and up 21.6% from $22.7 million in second quarter 2011

•Total loans of $4.41 billion, up $134 million from March 31, 2011 and up $282 million from June 30, 2010

•Total deposits of $5.59 billion, up $91 million from March 31, 2011 and up $358 million from June 30, 2010

•Nonperforming assets (nonaccrual loans and repossessed assets) of 3.1% of total assets, down from 3.3% in first quarter 2011 and 4.0% in second quarter 2010

•Net loan charge-offs of $13.6 million, down from $14.6 million for the first quarter 2011 and $25.8 million in second quarter 2010

•Net income of $6.2 million, including pre-tax loss on repossessed asset valuations/sales of $8.6 million and securities/valuation gains of $2.7 million

•Tier I Leverage capital of 9.5% and Total Risk-Based Capital ratio of 13.1%, compared to 9.1% and 13.0% a year ago Financial Performance

“We have continued improvement on all fronts including asset and revenue growth, expense control and asset quality,” said Robert Sarver, Chairman and Chief Executive Officer of Western Alliance Bancorporation. “I am especially pleased that Bank of Nevada, arguably our toughest market, is now notably contributing to the Company’s overall profitability.”

Ken Vecchione, President and Chief Operating Officer, added, “The substantial decrease in the number of community banks has made us the preferred local lender, and resulted in the strong loan and deposit market share gains we have today. Having increased our capital base during the last several years allowed us to support our customers during this difficult economic environment and supply our credit-worthy clients with the needed borrowing capacity to run their businesses. This quarter, we again improved our performance in multiple areas simultaneously with increased capital, improved asset quality and strong earnings growth. We have put ourselves on the path to consistent and sustainable profitability.”

Western Alliance Bancorporation reported net income of $6.2 million in the second quarter 2011, including a net loss from sales/valuation of repossessed assets of $8.6 million and a loss on discontinued operations net of tax of $0.5 million.

The Company reported net income per common share of $0.05 in the second quarter 2011. The income included $0.07 loss from sales/valuations of repossessed assets after tax, a net loss from discontinued affinity credit card operations held for sale of $0.01 and after tax investment securities gains of $0.02.

Total loans increased $134 million to $4.41 billion at June 30, 2011 from $4.28 billion on March 31, 2011. This increase was driven by growth in commercial and industrial loans and commercial real estate loans, primarily in the California and Arizona markets. Loans increased $282 million, or 6.8 percent from June 30, 2010.

Total deposits increased $91 million to $5.59 billion at June 30, 2011 from $5.50 billion at March 31, 2011, with growth primarily in non-interest bearing demand deposits and certificates of deposits, partially offset by a decline in interest bearing demand deposits. Deposits increased $358 million, or 6.8 percent from June 30, 2010.

Income Statement

Net interest income of $63.3 million in the second quarter 2011 increased by 3.6 percent compared to the first quarter 2011 and 10.1 percent compared to the second quarter 2010. The net interest margin in the second quarter 2011 was 4.34 percent compared to 4.35 percent in the first quarter 2011 and 4.16 percent in the second quarter of 2010.

Operating non-interest income was $6.8 million for the second quarter 2011.1 This performance was an increase from $6.0 million for the first quarter of 2011 and $6.5 million for the second quarter of 2010.1

Net revenue was $70.1 million for the second quarter 2011, a 4.5 percent increase from $67.1 million for the first quarter of 2011 and 9.5 percent from $64.0 million for the second quarter 2010.1

Operating non-interest expenses have been relatively flat at $42.5 million for the second quarter 2011, compared to $41.8 million for the first quarter of 2011 and $41.3 million for the second quarter of 2010.1 The Company’s operating efficiency ratio was 60 percent for the second quarter 2011, improved from 64 percent for the second quarter 2010.1 The Company had 908 full-time equivalent employees at June 30, 2011, compared to 961 one year ago.

A key performance metric for the Company is its pre-tax, pre-provision operating earnings, which it defines as net operating revenue less its operating non-interest expense.1 For the second quarter 2011, the Company’s performance was $27.6 million, up from $25.3 million in the first quarter 2011 and $22.7 million in the second quarter 2010.1

The provision for credit losses was $11.9 million for the second quarter 2011 compared to $10.0 million for the first quarter 2011 as a result of increased loan growth of $134 million in the second quarter 2011 compared to $37 million in the first quarter 2011. The provision for the second quarter of 2010 was $23.1 million. Net loan charge-offs in the second quarter 2011 were $13.6 million or 1.26 percent of average loans (annualized), down from $14.6 million or 1.39 percent of average loans (annualized) for the first quarter 2011 and $25.8 million or 2.53% of average loans (annualized) for the second quarter 2010.

Nonaccrual loans and repossessed assets were $198 million or 3.1 percent of total assets at June 30, 2011, down from $213 million or 3.3 percent of total assets at March 31, 2011 and $239 million or 4.0 percent of total assets at June 30, 2010. Loans past due 90 days and still accruing totaled $1.1 million at June 30, 2011, flat from the first quarter of 2011 and down from $8.2 million at June 30, 2010. Loans past due 30-89 days totaled $11.6 million at quarter end, down from $30.7 million at March 31, 2011 and down from $20.3 million at June 30, 2010.

Classified assets to Tier I capital plus allowance for credit losses, a common regulatory measure of asset quality, improved to 46 percent at June, 2011 from 64 percent at June 30, 2010.1

Net loss on sales and valuation of repossessed assets (primarily other real estate) was $8.6 million for the second quarter 2011 compared to $6.1 million in the prior quarter. At June 30, 2011, other repossessed assets were valued at $86 million compared to $98 million at March 31, 2011 and $104 million one year ago.

Balance Sheet

Gross loans totaled $4.41 billion at June 30, 2011, an increase of $134 million from March 31, 2011 and an increase of $282 million from $4.13 billion at June 30, 2010. At June 30, 2011 the allowance for credit losses was 2.37 percent of total loans down from 2.48 percent at March 31, 2011 and 2.66 percent at June 30, 2010.

Deposits totaled $5.59 billion at June 30, 2011, an increase of $91 million from $5.50 billion at March 31, 2011 and an increase of $358 million from $5.23 billion at June 30, 2010.

Non-interest bearing deposits increased $61.7 million to $1.52 billion at June 30, 2011 from March 31, 2011 and increased $186.4 million from $1.33 billion at June 30, 2010. Non-interest bearing deposits comprised 27.1 percent of total deposits at June 30, 2011, compared to 25.4 percent a year ago.

At June 30, 2011 and 2010, the Company’s loans were 79.0 percent of deposits compared to 77.8 percent at March 31, 2011.

Stockholders’ equity at June 30, 2011 increased to $615.7 million from $601.6 million at March 31, 2011. At June 30, 2011, tangible common equity was 6.9 percent of tangible assets1 and total risk-based capital was 13.1 percent of risk-weighted assets.

Total assets increased 1.7 percent to $6.51 billion at June 30, 2011 from $6.40 billion at March 31, 2011 and increased 9.2 percent from $5.96 billion at June 30, 2010.

Operating Unit Highlights

Bank of Nevada reported that loans declined $17 million during the second quarter of 2011 and declined $118 million during the last 12 months to $1.85 billion at June 30, 2011. Deposits increased $59 million in the second quarter of 2011 and increased $32 million over the last 12 months to $2.45 billion. Net income for Bank of Nevada was $3.7 million for the second quarter 2011, compared with net income of $0.9 million for the first quarter of 2011 and net loss of $10.7 million during the second quarter 2010.

Western Alliance Bank reported loan growth of $85 million during the second quarter 2011 and an increase of $210 million during the last 12 months to $1.43 billion. Deposits increased $67 million in the second quarter and increased $36 million during the last 12 months to $1.76 billion. Net income for Western Alliance Bank was $3.8 million during the second quarter 2011 compared with net income of $4.9 million during the first quarter of 2011 and a net income of $3.8 million during the first quarter 2010.

The Torrey Pines Bank segment, which excludes discontinued operations, reported that loans increased $66 million during the second quarter 2011 and increased $190 million during the last 12 months to $1.17 billion. Deposits decreased $35 million and increased $290 million to $1.38 billion during the same periods, respectively. Net income for Torrey Pines Bank was $4.2 million during the second quarter 2011 compared with net income of $4.0 million for the first quarter of 2011 and net income of $2.6 million during the second quarter 2010.

Attached to this press release is summarized financial information for the quarter ended June 30, 2011.

Conference Call and Webcast

Western Alliance Bancorporation will host a conference call and live webcast to discuss its second quarter 2011 financial results at 12:00 p.m. ET on Friday, July 22, 2011. Participants may access the call by dialing 1-866-843-0890 and using passcode: 2358768 or via live audio webcast using the website link: https://services.choruscall.com/links/wal11072.html. The webcast is also available via our website at www.westernalliancebancorp.com. Participants should log in at least 15 minutes early to receive instructions. The call will be recorded and made available for replay after 2:00 p.m. ET July 22 until 9 a.m. ET August 8th by dialing 1-877-344-7529 using the pass code 10002122.

About Western Alliance Bancorporation

Western Alliance Bancorporation is the parent company of Bank of Nevada, Western Alliance Bank doing business as Alliance Bank of Arizona and First Independent Bank, Torrey Pines Bank, and Shine Investment Advisory Services. These dynamic organizations provide a broad array of deposit and credit services to clients in Nevada, Arizona and California, and investment services in Colorado. Staffed with experienced financial professionals, these organizations deliver a broader product array and larger credit capacity than community banks, yet are empowered to be more responsive to customers' needs than larger institutions. Additional investor information can be accessed on the Investor Relations page of the company's website, www.westernalliancebancorp.com.

http://www.businesswire.com/news/home/20110721006927/en/Western-Alliance-Reports-Quarter-2011-Earnings-6.2

[Enterprising Investor]

WAL presentation for RBC Capital Markets' Financial Institutions Conference

http://www.snl.com/Cache/1500033078.PDF?D=&O=PDF&IID=1025038&Y=&T=&FID=1500033078

[Enterprising Investor]

WAL Presentation for Keefe Bruyette & Woods 2011 Boston Bank Conference (3/2/11)

http://www.snl.com/Cache/1001157352.PDF?D=&O=PDF&IID=1025038&Y=&T=&FID=1001157352

[Enterprising Investor]

WAL to Present at the Sandler O’Neill & Partners 2011 West Coast Financial Services Conference (3/01/11)

Western Alliance Bancorporation (NYSE: WAL) announced today that President and Chief Operating Officer Kenneth Vecchione will present at the Sandler O’Neill & Partners 2011 West Coast Financial Services Conference at The Ritz-Carlton in Marina del Rey, California, on Tuesday, March 8, 2011, at 1:50 p.m. PT. Mr. Vecchione’s comments will be webcast live at:

http://www.thomson-webcast.net/us/dispatching/SOP_20110308

http://www.businesswire.com/news/home/20110301006892/en/Western-Alliance-Bancorporation-Present-Sandler-O%E2%80%99Neill-Partners

[Enterprising Investor]

Losses are connected to balance sheet cleanup.

WAL Tangible Book Value is $5.35.

Net Interest Margin is healthy at 3.97.

[56Chevy]

Western Alliance Bancorporation

http://asternglance.com/2011/01/26/western-alliance-bancorporation-narrows-4th-quarter-year-end-loss/