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Fair-value accounting and merger costs took big bites out of Western Alliance Bancorp. in Phoenix last quarter.
July 27 -
Western Alliance Bancorp. relishes niches with thin competition and high rewards. Its deal for Bridge Capital is no different: The seller serves small tech companies that provide high liquidity and ample fee revenue.
March 13 -
Western Alliance Bancorp. in Phoenix reported higher third-quarter earnings due to double digit growth in loans and revenue.
October 17
Western Alliance Bancorp. in Phoenix posted a big increase in third-quarter profit, its first earnings statement after the
Net income at the $14 billion-asset company grew 44.5% to $59.1 million, or 58 cents per share, from the same period last year.
Net interest income rose 40.1%, to $137.4 million. Loans increased 35.7%, to $10.8 billion. The net interest margin increased by 16 basis points to 4.59%.
Noninterest income more than doubled, growing 128% from the same period last year to $13.8 million. This was driven in part by increases in revenue from unrealized gains on assets and liabilities, and deposit service charges.
Noninterest expense rose more than 46%, to $72.9 million, driven by higher personnel costs.
Western Alliance in June acquired Bridge Capital Holdings, in San Jose, Calif., the holding company for Bridge Bank.
