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Mar 31, 2023
Western Alliance Q1 2023 Earnings Report
Achieved net income and earnings per share, increasing tangible book value per share and maintaining a strong CET1 ratio
Key Takeaways
Western Alliance Bancorporation reported a net income of $142.2 million and earnings per share of $1.28 for Q1 2023. The company's deposits stabilized at $47.6 billion by the end of the quarter, with a subsequent increase of $2.0 billion through April 14. The CET1 ratio stood at 9.4%, and the tangible book value per share increased by 3.3% to $41.56 from year-end.
Net income for Q1 2023 was $142.2 million, with earnings per share at $1.28.
Deposits stabilized at $47.6 billion by the end of Q1, with an additional $2.0 billion increase through April 14.
Tangible book value per share increased by 3.3% to $41.56 from year-end.
CET1 ratio was reported at 9.4%.
Forward Guidance
Western Alliance Bancorporation is targeting a higher CET1 ratio at or above 11% and greater liquidity with a loan-to-deposit ratio in the mid-80% range as it progresses through the year and into 2024.
Positive Outlook
- Targeting a CET1 ratio at or above 11%.
- Aiming for a loan-to-deposit ratio in the mid-80% range.
- Focus on sound financial fundamentals.
- Prioritizing core client relationships with holistic lending, deposit, and treasury management needs.
- Balance sheet repositioning will have an immediate accretive impact to regulatory capital.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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