Western Alliance Q2 2022 Earnings Report

Reported record revenues, PPNR, and earnings, driven by capital driven business model.

Key Takeaways

Western Alliance Bancorporation reported a solid performance in Q2 2022, with record revenues, PPNR, and earnings. Net income reached $260.2 million, with an EPS of $2.39, a 10.1% increase over the prior year. Loan and deposit increases were strong, lifting total assets to $66 billion. The net interest margin increased to 3.54%.

Net income was $260.2 million, with earnings per share at $2.39, a 10.1% increase year-over-year.

Loans and deposits increased by $7.2 billion and $1.6 billion, respectively, bringing total assets to $66 billion.

Net interest margin increased by 22 basis points from the prior quarter to 3.54%, driving net interest income up by 16.8% to $525.0 million.

Asset quality remained strong, with nonperforming assets to total assets at 0.15%.