Western Alliance Bancorporation (WAL) 10-Year Financial Performance & Capital Metrics

WAL • • Banking & Credit

Financial ServicesRegional BanksCommercial & Business BankingCommercial & Corporate Banking

AboutWestern Alliance Bancorporation operates as the bank holding company for Western Alliance Bank that provides various banking products and related services primarily in Arizona, California, and Nevada. It operates in Commercial, Consumer Related, and Corporate & Other segments. The company offers deposit products, including checking, savings, and money market accounts, as well as fixed-rate and fixed maturity certificates of deposit accounts; and treasury management and residential mortgage products and services. It also offers commercial and industrial loan products, such as working capital lines of credit, loans to technology companies, inventory and accounts receivable lines, mortgage warehouse lines, equipment loans and leases, and other commercial loans; commercial real estate loans, which are secured by multi-family residential properties, professional offices, industrial facilities, retail centers, hotels, and other commercial properties; construction and land development loans for single family and multi-family residential projects, industrial/warehouse properties, office buildings, retail centers, medical office facilities, and residential lot developments; and consumer loans. In addition, the company provides other financial services, such as internet banking, wire transfers, electronic bill payment and presentment, lock box services, courier, and cash management services. Further, it holds certain investment securities, municipal and non-profit loans, and leases; invests primarily in low-income housing tax credits and small business investment corporations; and holds certain real estate loans and related securities. The company operates 36 branch locations, as well as loan production offices. Western Alliance Bancorporation was founded in 1994 and is headquartered in Phoenix, Arizona.Show more

Net Interest Income $2.62B +12.0%
Total Revenue $5.08B +17.8%
Net Income $788M +9.0%
Return on Equity 12.32% -2.5%
Net Interest Margin 3.24% -2.0%
Efficiency Ratio 39.83% +5.9%
ROA 1.04% -0.5%
Equity / Assets 8.29% -3.4%
Book Value per Share 61.36 +9.5%
Tangible BV/Share 45.02 +14.0%
Debt/Equity 0.99 -27.6%

Technical Analysis

Key Insights

Based on financial data analysis

✓Strengths

✓Efficient operations: 39.8% efficiency ratio
✓Good 3Y average ROE of 15.2%
✓Trading near 52-week high
✓Trading at only 1.5x book value

✗Weaknesses

No significant weaknesses identified

Price & Volume

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Growth Metrics

Revenue CAGR

10Y27.72%

5Y31.64%

3Y35.24%

TTM-

Profit (Net Income) CAGR

10Y18.2%

5Y9.55%

3Y-4.32%

TTM25.2%

EPS CAGR

10Y15.56%

5Y7.93%

3Y-6.49%

TTM24.85%

ROCE

10Y Avg14.85%

5Y Avg13.82%

3Y Avg12%

Latest9.82%

Peer Comparison

Commercial & Corporate Banking

Name	Market Cap	Current Price	P/E Ratio	Revenue Growth 1Y	Net Margin	ROE	FCF Yield	Debt/Equity
TCBITexas Capital Bancshares, Inc.	4.49B	98.37	76.85	-1.72%	4.4%	7.92%	9.27%	0.46
BANCBanc of California, Inc.	3.15B	20.87	40.13	24.65%	6.78%	6.01%	2.04%	0.67
DBDeutsche Bank AG	74.26B	38.87	28.37	11.78%	5.07%	7.18%		1.91
HTHHilltop Holdings Inc.	2.2B	35.83	20.59	2.5%	7.35%	7.2%	12.14%	0.61
SFBSServisFirst Bancshares, Inc.	4.28B	78.31	18.82	17.89%	23.26%	14.33%	5.8%	1.27
CMAComerica Incorporated	11.69B	91.51	18.23	-4.95%	13.98%	10.57%	3.83%	1.02
BOKFBOK Financial Corporation	8.08B	127.69	15.69	10.4%	15.57%	8.91%	15.59%	0.80
CNOBConnectOne Bancorp, Inc.	1.37B	27.26	15.49	6.06%	13.8%	3.98%	4.15%	0.63

Profit & Loss

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Net Interest Income+	492.58M	657.21M	784.66M	915.9M	1.04B	1.17B	1.55B	2.22B	2.34B	2.62B
NII Growth %	0.28%	0.33%	0.19%	0.17%	0.14%	0.12%	0.33%	0.43%	0.06%	0.12%
Net Interest Margin %	-	-	-	-	-	-	-	-	-	-
Interest Income	525.14M	700.51M	845.51M	1.03B	1.23B	1.26B	1.66B	2.69B	4.04B	4.54B
Interest Expense	32.57M	43.29M	60.85M	117.6M	184.6M	94.9M	109.9M	475.5M	1.7B	1.92B
Loan Loss Provision	3.2M	8M	17.25M	25M	19.3M	123.6M	-28.6M	68.1M	62.6M	145.9M
Non-Interest Income+	25.46M	38.1M	37.39M	34.2M	61.3M	72.3M	397M	324.6M	280.7M	543.2M
Non-Interest Income %	-	-	-	-	-	-	-	-	-	-
Total Revenue+	550.6M	738.61M	882.91M	1.07B	1.29B	1.33B	2.06B	3.02B	4.32B	5.08B
Revenue Growth %	0.25%	0.34%	0.2%	0.21%	0.2%	0.04%	0.54%	0.47%	0.43%	0.18%
Non-Interest Expense	256.29M	326.14M	352.99M	414.8M	478.2M	493.1M	851.4M	1.16B	1.62B	2.02B
Efficiency Ratio	-	-	-	-	-	-	-	-	-	-
Operating Income+	258.54M	361.18M	451.82M	510.3M	604.2M	622.5M	1.12B	1.32B	933.6M	991.2M
Operating Margin %	-	-	-	-	-	-	-	-	-	-
Operating Income Growth %	0.31%	0.4%	0.25%	0.13%	0.18%	0.03%	0.8%	0.17%	-0.29%	0.06%
Pretax Income+	258.54M	361.18M	451.82M	510.3M	604.2M	622.5M	1.12B	1.32B	933.6M	991.2M
Pretax Margin %	-	-	-	-	-	-	-	-	-	-
Income Tax+	64.29M	101.38M	126.33M	74.5M	105M	115.9M	223.8M	258.8M	211.2M	203.5M
Effective Tax Rate %	-	-	-	-	-	-	-	-	-	-
Net Income+	194.24M	259.8M	325.49M	435.8M	499.2M	506.6M	899.2M	1.06B	722.4M	787.7M
Net Margin %	-	-	-	-	-	-	-	-	-	-
Net Income Growth %	0.31%	0.34%	0.25%	0.34%	0.15%	0.01%	0.77%	0.18%	-0.32%	0.09%
Net Income (Continuing)	194.24M	259.8M	325.49M	435.8M	499.2M	506.6M	899.2M	1.06B	722.4M	787.7M
EPS (Diluted)+	2.03	2.50	3.10	4.14	4.84	5.04	8.67	9.70	6.54	7.09
EPS Growth %	0.22%	0.23%	0.24%	0.34%	0.17%	0.04%	0.72%	0.12%	-0.33%	0.08%
EPS (Basic)	2.05	2.52	3.12	4.16	4.86	5.06	8.72	9.74	6.55	7.14
Diluted Shares Outstanding	95.22M	103.84M	105M	105.4M	103.13M	100.5M	103.3M	107.6M	108.5M	109.3M

Balance Sheet

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Cash & Short Term Investments+	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K
Cash & Due from Banks	224.64M	284.49M	416.77M	498.57M	434.6M	2.67B	516M	1.04B	1.58B	4.1B
Short Term Investments	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K
Total Investments+	13B	16.16B	19.24B	21.99B	25.74B	32.62B	52.54B	61.9B	64.65B	71.29B
Investments Growth %	0.33%	0.24%	0.19%	0.14%	0.17%	0.27%	0.61%	0.18%	0.04%	0.1%
Long-Term Investments	11.02B	13.55B	15.74B	18.72B	22.4B	27.91B	46.35B	54.8B	53.48B	66.85B
Accounts Receivables	0	0	0	0	0	0	0	0	0	0
Goodwill & Intangibles+	-	-	-	-	-	-	-	-	-	-
Goodwill	289.64M	289.97M	289.89M	289.89M	289.9M	289.9M	491M	527M	527M	527M
Intangible Assets	15.72M	12.93M	10.85M	9.26M	7.7M	8.6M	841M	1.3B	1.27B	1.26B
PP&E (Net)	118.53M	119.83M	118.72M	119.47M	198.4M	206.6M	315M	439M	484M	489M
Other Assets	538.49M	237.43M	244.57M	168.13M	128.94M	635.4M	1.26B	2.22B	2.08B	2.99B
Total Current Assets	2.21B	2.89B	3.92B	3.78B	3.78B	7.38B	6.71B	8.13B	12.74B	8.53B
Total Non-Current Assets	12.07B	14.31B	16.41B	19.33B	23.04B	29.08B	49.28B	59.6B	58.12B	72.4B
Total Assets+	14.28B	17.2B	20.33B	23.11B	26.82B	36.46B	55.98B	67.73B	70.86B	80.93B
Asset Growth %	0.35%	0.2%	0.18%	0.14%	0.16%	0.36%	0.54%	0.21%	0.05%	0.14%
Return on Assets (ROA)	0.02%	0.02%	0.02%	0.02%	0.02%	0.02%	0.02%	0.02%	0.01%	0.01%
Accounts Payable	0	0	0	0	0	0	0	0	0	0
Total Debt+	398.48M	489.67M	792.92M	873.87M	488.4M	649.6M	2.54B	7.38B	8.3B	6.63B
Net Debt	173.84M	205.17M	376.15M	375.3M	53.8M	-2.02B	2.02B	6.33B	6.73B	2.54B
Long-Term Debt	210.33M	367.94M	376.9M	360.46M	393.6M	548.7M	1.67B	2.2B	1.34B	3.32B
Short-Term Debt	188.16M	121.73M	416.02M	513.41M	16.7M	21M	727M	4.99B	6.78B	3.15B
Other Liabilities	254.48M	269.79M	333.93M	444.44M	520.3M	467.4M	867M	1.36B	1.15B	1.25B
Total Current Liabilities	12.22B	14.67B	17.39B	19.69B	22.81B	31.95B	48.34B	58.64B	62.12B	69.49B
Total Non-Current Liabilities	464.81M	637.72M	710.84M	804.89M	992M	1.1B	2.68B	3.74B	2.67B	4.74B
Total Liabilities	12.68B	15.31B	18.1B	20.5B	23.81B	33.05B	51.02B	62.38B	64.78B	74.23B
Total Equity+	1.59B	1.89B	2.23B	2.61B	3.02B	3.41B	4.96B	5.36B	6.08B	6.71B
Equity Growth %	0.59%	0.19%	0.18%	0.17%	0.15%	0.13%	0.45%	0.08%	0.13%	0.1%
Equity / Assets (Capital Ratio)	-	-	-	-	-	-	-	-	-	-
Return on Equity (ROE)	0.15%	0.15%	0.16%	0.18%	0.18%	0.16%	0.21%	0.2%	0.13%	0.12%
Book Value per Share	16.71	18.22	21.24	24.80	29.25	33.97	48.04	49.78	56.02	61.36
Tangible BV per Share	-	-	-	-	-	-	-	-	-	-
Common Stock	10K	10K	10K	10K	1.37B	0	1.97B	2.16B	2.2B	2.25B
Additional Paid-in Capital	1.32B	1.4B	1.42B	1.42B	1.37B	1.39B	0	0	0	0
Retained Earnings	262.64M	522.44M	848.47M	1.28B	1.68B	2B	2.77B	3.66B	4.21B	4.83B
Accumulated OCI	22.26M	-4.7M	-3.15M	-33.62M	-1.35B	92.3M	15.7M	-661M	-513M	-534M
Treasury Stock	-16.88M	-26.36M	-40.17M	-53.08M	-62.7M	-71.1M	-86.8M	-105M	-116M	-125M
Preferred Stock	0	0	0	0	0	0	294.5M	295M	295M	295M

Cash Flow

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Cash from Operations+	220.41M	280.64M	383.81M	540.97M	717.77M	670.2M	-2.65B	2.25B	-328.6M	-2.74B
Operating CF Growth %	4.75%	0.27%	0.37%	0.41%	0.33%	-0.07%	-4.96%	1.85%	-1.15%	-7.34%
Net Income	194.24M	259.8M	325.49M	435.79M	499.17M	506.6M	899.2M	1.06B	722.4M	787.7M
Depreciation & Amortization	8.47M	12.49M	13.39M	14.3M	29M	34.6M	50M	74.6M	86.5M	118.5M
Deferred Taxes	3.25M	7.64M	88.47M	-16.7M	-5.1M	-25.1M	42M	-68.6M	-24.9M	12.4M
Other Non-Cash Items	-1.35M	5.82M	19.86M	61.21M	30.1M	140.4M	-3.52B	1.18B	-1.26B	-3.94B
Working Capital Changes	-9.73M	-25.45M	-86.95M	20.69M	138.4M	-15M	-157.6M	-38.7M	114.7M	234.9M
Cash from Investing+	-1.37B	-2.89B	-2.96B	-2.71B	-3.72B	-7.54B	-14.71B	-13.13B	-2.16B	-5.97B
Purchase of Investments	-827M	-1.3B	-1.64B	-763.7M	-1.24B	-3.32B	-4.01B	-3.06B	-15.59B	-17.06B
Sale/Maturity of Investments	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K
Net Investment Activity	-	-	-	-	-	-	-	-	-	-
Acquisitions	342.43M	-1.27B	-5.82M	-4.13M	0	0	-1.02B	-50M	0	0
Other Investing	-1.28B	-835.69M	-1.85B	-2.58B	-3.43B	-5.89B	-11.48B	-10.78B	1.91B	-3.71B
Cash from Financing+	1.21B	2.67B	2.7B	2.25B	2.94B	9.1B	15.21B	11.41B	3.02B	11.23B
Dividends Paid	-750K	0	0	0	-51.3M	-101.3M	-127.6M	-166.2M	-171.5M	-176.8M
Share Repurchases	0	0	-13.81M	-35.7M	-120.2M	-71.6M	0	0	0	0
Stock Issued	28.29M	55.78M	0	0	0	0	540.3M	157.7M	100K	100K
Net Stock Activity	-	-	-	-	-	-	-	-	-	-
Debt Issuance (Net)	-1000K	1000K	1000K	1000K	-1000K	1000K	-1000K	1000K	1000K	1000K
Other Financing	1.36B	2.51B	2.42B	2.19B	3.61B	9.13B	15.67B	6.01B	1.67B	10.99B
Net Change in Cash+	60.24M	59.85M	132.28M	81.8M	-64M	2.24B	-2.16B	527M	532.7M	2.52B
Exchange Rate Effect	0	0	0	0	0	0	0	0	0	0
Cash at Beginning	164.4M	224.64M	284.49M	416.8M	498.57M	434.6M	2.67B	516.4M	1.04B	1.58B
Cash at End	224.64M	284.49M	416.77M	498.57M	434.6M	2.67B	516.4M	1.04B	1.58B	4.1B
Interest Paid	28.83M	41.56M	59.84M	113.5M	0	108.6M	111.6M	452.9M	1.58B	1.94B
Income Taxes Paid	54.59M	61.28M	99.43M	18.8M	0	44.2M	175.7M	197.6M	63.6M	1.3M
Free Cash Flow+	209.56M	270.07M	374.95M	539.1M	682.62M	643.4M	-2.72B	2.1B	-442.9M	-2.83B
FCF Growth %	4.38%	0.29%	0.39%	0.44%	0.27%	-0.06%	-5.23%	1.77%	-1.21%	-5.38%

Banking Ratios

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Return on Equity (ROE)	14.99%	14.92%	15.8%	18%	17.73%	15.76%	21.47%	20.49%	12.64%	12.32%
Return on Assets (ROA)	1.56%	1.65%	1.73%	2.01%	2%	1.6%	1.95%	1.71%	1.04%	1.04%
Net Interest Margin	3.45%	3.82%	3.86%	3.96%	3.88%	3.2%	2.77%	3.27%	3.3%	3.24%
Efficiency Ratio	46.55%	44.16%	39.98%	38.85%	37.18%	36.96%	41.42%	38.35%	37.61%	39.83%
Equity / Assets	11.15%	11%	10.97%	11.31%	11.25%	9.36%	8.87%	7.91%	8.58%	8.29%
Book Value / Share	16.71	18.22	21.24	24.8	29.25	33.97	48.04	49.78	56.02	61.36
NII Growth	27.98%	33.42%	19.39%	16.73%	13.59%	12.16%	32.73%	43.1%	5.53%	11.97%
Dividend Payout	-	-	-	-	10.28%	20%	14.19%	15.72%	23.74%	22.45%

Revenue by Segment

	2018	2019	2020
Commercial	-	-	28.3M
Commercial Growth	-	-	-
Consumer Related	-	-	1.6M
Consumer Related Growth	-	-	-
Technology and Innovation	6.44M	4.79M	-
Technology and Innovation Growth	-	-25.54%	-
HOA Services	613K	366K	-
HOA Services Growth	-	-40.29%	-
Other National Business Lines	1K	175K	-
Other National Business Lines Growth	-	17400.00%	-
Public and Non-Profit Finance	-	-	-
Public and Non-Profit Finance Growth	-	-	-
HFF Loan Portfolio	-	-	-
HFF Loan Portfolio Growth	-	-	-

Revenue by Geography

	2018	2019	2020
NEVADA	9.72M	9.36M	-
NEVADA Growth	-	-3.77%	-
Northern California	7.67M	6.81M	-
Northern California Growth	-	-11.20%	-
ARIZONA	5.21M	5.95M	-
ARIZONA Growth	-	14.04%	-
Southern California	3.38M	3.6M	-
Southern California Growth	-	6.67%	-

Frequently Asked Questions

Valuation & Price

Western Alliance Bancorporation (WAL) has a price-to-earnings (P/E) ratio of 12.7x. This may indicate the stock is undervalued or faces growth challenges.

Growth & Financials

Western Alliance Bancorporation (WAL) grew revenue by 17.8% over the past year. This is strong growth.

Yes, Western Alliance Bancorporation (WAL) is profitable, generating $899.8M in net income for fiscal year 2024 (15.5% net margin).

Dividend & Returns

Yes, Western Alliance Bancorporation (WAL) pays a dividend with a yield of 1.80%. This makes it attractive for income-focused investors.

Western Alliance Bancorporation (WAL) has a return on equity (ROE) of 12.3%. This is reasonable for most industries.

Industry Metrics

Western Alliance Bancorporation (WAL) has a net interest margin (NIM) of 3.2%. This indicates healthy earnings from lending activities.

Western Alliance Bancorporation (WAL) has an efficiency ratio of 39.8%. This is excellent, indicating strong cost control.

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