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Mar 31, 2021
Western Alliance Q1 2021 Earnings Report
Reported record quarterly highs driven by the growing national commercial business strategy.
Key Takeaways
Western Alliance Bancorporation reported a strong first quarter in 2021, marked by record highs in key financial performance results and balance sheet growth. Loans were up by $1.7 billion and deposits increased by $6.5 billion. Net income was $192.5 million and earnings per share reached $1.90.
Balance sheet growth continued with loans up $1.7 billion (24.9% annualized), and deposits up $6.5 billion (82.1% annualized).
Total assets reached $43.4 billion, an increase of $6.9 billion from year end.
Net income was $192.5 million, with earnings per share at $1.90.
Asset quality remained stable, with nonperforming assets to total assets at 0.27% and annualized net charge-offs to average loans outstanding at a modest 0.02%.
Forward Guidance
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.
Positive Outlook
- Statements regarding expectations with regard to business.
- Statements regarding expectations with regard to financial and operating results.
- Statements regarding expectations with regard to future economic performance and dividends.
- Statements regarding expectations with regard to the impact of the COVID-19 pandemic and related economic conditions.
- Statements regarding the ability to successfully integrate and operate AmeriHome.
Challenges Ahead
- Risk factors discussed in the Company’s Annual Report on Form 10-K for the year ended December 31, 2020 as filed with the Securities and Exchange Commission.
- Potential adverse effects of the ongoing COVID-19 pandemic and any governmental or societal responses thereto, including the distribution and effectiveness of COVID-19 vaccines, or other unusual and infrequently occurring events.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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