Welcome to our dedicated page for Western Alliance news (Ticker: WAL), a resource for investors and traders seeking the latest updates and insights on Western Alliance stock.
Western Alliance Bancorporation (NYSE: WAL) delivers full-service banking through its unique blend of national-scale capabilities and community-focused service. This news hub provides investors and stakeholders with essential updates spanning financial performance, strategic initiatives, and market developments.
Track critical updates including quarterly earnings releases, merger & acquisition activity, leadership changes, and regulatory filings. Our curated feed ensures access to both operational developments and broader industry trends impacting this regional banking leader.
Discover categorized updates on commercial banking innovations, treasury management solutions, and regional market expansions across WAL's core Southwest territories. Content is rigorously verified to meet investor needs for accuracy and compliance.
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Western Alliance Bancorporation (NYSE: WAL) announced a $9 million investment in the FVLCRUM Fund, aimed at addressing the racial wealth gap in the U.S. The fund, developed by Clearinghouse CDFI, seeks to raise $250 million to invest in high-growth, minority-owned businesses, primarily in government contracting, healthcare, and franchising. FVLCRUM aims to create $10 million in new net worth for minority business owners. This investment aligns with Western Alliance's ESG goals and has received regulatory approval from the Federal Reserve.
Western Alliance Bancorporation (NYSE: WAL) reported net income of $223.8 million and earnings per share of $2.17 for Q2 2021, marking increases of 139.9% and 133.3% year-over-year, respectively. The company achieved a record net revenue of $506.5 million, up 50.3% from Q1 2021. Total deposits rose to $41.9 billion, driven by a 36.9% annualized growth rate. The acquisition of AmeriHome Mortgage contributed significantly to these results. The net interest margin was 3.51%, while asset quality remained strong with a nonperforming assets ratio of 0.20%.
Western Alliance Bancorporation (NYSE: WAL) will release its Q2 2021 financial results after market close on July 15, 2021. A conference call led by President Ken Vecchione and CFO Dale Gibbons will take place on July 16, 2021, at 12:00 p.m. ET to discuss the company’s performance. Investors can join the call at 1-833-236-2753 with conference ID 3676158 or via a webcast link. Western Alliance, with about $50 billion in assets, has consistently ranked as a top-performing U.S. bank and recently acquired AmeriHome Mortgage.
Western Alliance Bancorporation (NYSE: WAL) reported strong first-quarter 2021 results, with net income of $192.5 million and earnings per share of $1.90. Total loans grew by $1.7 billion (24.9% annualized), and deposits surged by $6.5 billion (82.1% annualized). The acquisition of AmeriHome was completed ahead of schedule, valued at approximately $1.22 billion. Although the net interest margin decreased to 3.37%, asset quality remained stable with nonperforming assets at 0.27% of total assets. The company anticipates continued growth driven by its commercial strategy.
Western Alliance Bancorporation (NYSE: WAL) will release its Q1 2021 financial results after market close on April 15, 2021. A conference call to discuss the performance will take place on April 16, 2021, at 12:00 p.m. ET, hosted by President and CEO Ken Vecchione and Vice Chairman and CFO Dale Gibbons. Participants can join by phone or via a live audio webcast. The call will also be available for replay from April 16 after 3:00 p.m. ET through May 16.
Western Alliance is recognized as a top-performing banking company, holding over $35 billion in assets.
Western Alliance Bancorporation (NYSE: WAL) has successfully completed the acquisition of Aris Mortgage Holding Company, the parent of AmeriHome Mortgage, for approximately $1.22 billion, which includes a $275 million premium. The acquisition is expected to enhance Western Alliance's national commercial businesses through AmeriHome's extensive network of over 700 independent mortgage originators. An agreement has also been signed for the sale of $750 million in mortgage servicing rights, aimed at strengthening custodial deposits.
Western Alliance Bancorporation (NYSE: WAL) has priced a direct offering of 2.3 million shares at $91.00 each, totaling approximately $209 million. This capital raise aims to support the acquisition of AmeriHome and promote future growth. Kenneth A. Vecchione, CEO, expressed gratitude for shareholder confidence, underscoring the strategic value of the acquisition. The deal is set to close on March 8, 2021, pending customary conditions. Proceeds will be used for corporate purposes, including debt management and growth initiatives.
Western Alliance Bancorporation (NYSE: WAL) has signed a definitive agreement to acquire Aris Mortgage Holding Company, parent of AmeriHome Mortgage, for approximately $1.0 billion in cash. This acquisition will enhance Western Alliance's national commercial business with a low-risk mortgage franchise, leveraging AmeriHome's B2B relationships with over 700 independent mortgage originators. The deal is expected to boost EPS by over 30% and return on average tangible common equity by over 500 basis points. The transaction is projected to close in Q2 2021.
Western Alliance Bancorporation (NYSE:WAL) reported a strong performance for Q4 and the full year 2020, achieving net income of $193.6 million and earnings per share of $1.93, marking over a 50% increase year-over-year. The company saw record earnings and pre-provision net revenue (PPNR) of $206.4 million for the quarter, up 13.9%.
Annual net income reached $506.6 million, with a 4.1% rise in earnings per share to $5.04. Total deposits grew by $3.1 billion to $31.9 billion.
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