Western Alliance Q3 2020 Earnings Report

Reported record third quarter performance driven by diversified business model and prudent credit risk management.

Key Takeaways

Western Alliance Bancorporation reported a strong third quarter in 2020, with net income of $135.8 million and earnings per share of $1.36, both up over 45% from the prior quarter. The company benefited from a decline in the provision for credit losses and loan growth in low-risk asset classes.

Net income of $135.8 million and earnings per share of $1.36, are each up over 45% from the prior quarter.

Loan and deposit growth of $985 million and $1.3 billion, respectively.

Nonperforming assets to total assets remained stable at 0.47%.

Net interest margin declined 48 basis points from the prior quarter to 3.71% due to excess liquidity.