Western Alliance Q4 2023 Earnings Report
Key Takeaways
Western Alliance Bancorporation reported a decrease in net income to $147.9 million and earnings per share to $1.33 for Q4 2023. The company's diversified commercial business strategy drove loan and deposit momentum, contributing to net interest income growth and stable asset quality.
Earnings per share were $1.91, excluding $0.58 of notable items.
CET1 capital reached 10.8% at year-end.
Tangible book value per share rose 16% year-over-year to $46.72.
The company repaid $1.5 billion of debt and borrowings, including the entire loan from the Bank Term Funding Program.
Western Alliance
Western Alliance
Forward Guidance
The company anticipates leading profitability in 2024, supported by sturdy capital and liquidity levels, solid loan and deposit momentum, continued net interest income growth, and sustained stable asset quality.