WALMEDIUM SIGNALFINANCIAL10-K

Western Alliance Bancorporation shows strong balance sheet growth with substantially higher revenue generation, while reducing total debt by 43% and expanding deposits and assets by double digits.

The company demonstrates solid operational momentum with meaningful revenue growth and improved capital efficiency through debt reduction. The 16% deposit growth and 15% asset expansion indicate successful business development, while the debt reduction suggests stronger balance sheet management and potentially lower interest expense going forward.

Comparing 2026-02-23 vs 2025-02-25View on EDGAR →
FINANCIAL ANALYSIS

WAL delivered strong financial performance with revenue growing substantially while net income increased 23% to $969 million. The balance sheet expanded meaningfully with total assets reaching $93 billion (+15%) and deposits growing to $77 billion (+16%), while the company simultaneously reduced total debt by 43% to $1.4 billion. This combination of revenue growth, deposit expansion, and deleveraging signals improved operational efficiency and stronger capital positioning.

FINANCIAL STATEMENT CHANGES
Revenue
P&L
+99.7%
$68.0M$135.8M

Strong top-line growth of 99.7% — accelerating demand or successful expansion into new markets.

Total Debt
Balance Sheet
-42.5%
$2.4B$1.4B

Debt reduced 42.5% — deleveraging strengthens balance sheet and reduces financial risk.

Net Income
P&L
+23%
$787.7M$969.0M

Net income grew 23% — bottom-line growth signals improving overall business health.

Total Deposits
Balance Sheet
+16.3%
$66.3B$77.2B

Deposits grew 16.3% — expanding customer base or increased trust in the institution.

Total Assets
Balance Sheet
+14.6%
$80.9B$92.8B

Asset base grew 14.6% — expansion through organic growth, acquisitions, or capital deployment.

Total Liabilities
Balance Sheet
+14.3%
$74.2B$84.8B

Liabilities increased 14.3% — monitor debt-to-equity ratio and interest coverage.

Stockholders Equity
Balance Sheet
+14.1%
$6.7B$7.7B

Equity base grew 14.1% — retained earnings accumulation or equity issuance strengthening the balance sheet.

LANGUAGE CHANGES
NEW — 2026-02-23
PRIOR — 2025-02-25
ADDED
As of February 18, 2026, Western Alliance Bancorporation had 109,879,137 shares of common stock outstanding.
Management's Discussion and Analysis of Financial Condition and Results of Operations 35 Item 7A.
or Real Estate Investment Trust TPB Torrey Pines Bank WATC Western Alliance Trust Company, N.A.
Generally Accepted Accounting Principles SERP Supplemental Executive Retirement Plan CISO Chief Information Security Officer GENIUS Act Guiding and Establishing National Innovation for U.S.
Department of Housing and Urban Development VA Veterans Affairs DOJ U.S.
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REMOVED
As of February 18, 2025, Western Alliance Bancorporation had 110,454,292 shares of common stock outstanding.
Management's Discussion and Analysis of Financial Condition and Results of Operations 34 Item 7A.
Department of Housing and Urban Development USDA United States Department of Agriculture Dodd-Frank Act The Dodd-Frank Wall Street Reform and Consumer Protection Act of 2010 ICS Insured Cash Sweep Service VA Veterans Affairs DOJ U.S.
WAL provides a full spectrum of customized loan, deposit and treasury management capabilities, including funds transfer and other digital payment offerings through its wholly-owned banking subsidiary, WAB , together with its banking divisions: ABA, BON, FIB, Bridge, and TPB.
The Company also provides an array of specialized financial services to business customers across the country, including mortgage banking services through AmeriHome, treasury management services to the homeowner's association sector, and digital payment services for the class action legal industry.
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