Thu, Aug 1, 9:31 PM (88 days ago)
Western Alliance Bancorporation's Q2 2024 financial report highlights a solid performance with net income available to common stockholders at $190.4 million, down from $212.5 million YoY. Diluted EPS was $1.75, compared to $1.96 YoY. Net revenue increased to $771.8 million from $669.3 million, while non-interest expenses rose to $486.8 million from $387.4 million. PPNR was $285.0 million, up 1.1% YoY. Total loans HFI grew 4.2% to $52.4 billion, and total deposits surged 19.7% to $66.2 billion. Stockholders' equity rose by $256 million to $6.3 billion. The net interest margin improved to 3.63% from 3.42%, while the tangible common equity ratio dropped to 6.7% from 7.3%. Nonperforming assets increased to 0.51% of total assets from 0.40%. The efficiency ratio worsened to 62.3% from 57.1%. The bank's regulatory capital remained robust, with a CET1 ratio of 11.0% and a total capital ratio of 13.9%.