| Metric | Value ($ M) | Q1 FY25 |
|---|---|---|
| Revenue | 67.20 | 192.2% |
| Total Income | 67.20 | 192.2% |
| Expenditure | -157.00 | 29.7% |
| PBT | 231.30 | 6.1% |
| Net Profit | 182.10 | 8.5% |
| OPM | — | |
| NPM | 100.00% | 0.00pp |
| EPS | 1.65 | 8.3% |
Western Alliance Bancorp Reports Q1 2026 Net Income of $189.2 Million
22 Apr 2026 · 22 Apr, 1:52 am
Summary
Western Alliance Bancorporation reported a net income of $189.2 million for Q1 2026. The company saw robust deposit growth of $5.6 billion and net interest margin expansion to 3.54%. Adjusted earnings per share were $2.22, excluding notable items. CEO Kenneth A. Vecchione noted the company's solid first quarter results, driven by continued business strength and decisive action to resolve fraud-related credits.
Key Highlights
- 1
Western Alliance achieved a net income of $189.2 million, or $1.65 earnings per share, for the first quarter of 2026.
- 2
Adjusted earnings per share were $2.22, excluding $0.57 of notable items.
- 3
Net revenue reached $1.0 billion, reflecting a 31.0% increase year-over-year.
- 4
Total deposits increased by $5.6 billion, reaching $82.7 billion.
- 5
Net interest margin expanded by 3 basis points to 3.54% due to lower deposit costs.
- 6
The company completed opportunistic quarterly share repurchases of $50.0 million.
- 7
Tangible book value per share climbed 13.0% year-over-year to $61.14.
Management Comments
Kenneth A. Vecchione
Western Alliance achieved solid first quarter results featuring robust deposit growth, net interest margin expansion, and core earnings momentum, while taking decisive action to resolve two fraud-related credits, partially offset by gains from a series of well-executed security sales. Continued business strength drove quarterly loan and deposit growth of $465 million and $5.6 billion, respectively, and generated adjusted earnings per share1 of $2.22, excluding $0.57 of notable items. Net interest margin of 3.54% expanded 3 basis points as the cost of interest-bearing deposits declined 21 basis points, which sustained net interest income despite two fewer days in the quarter. Core asset quality remained stable and steady as the total classified assets ratio declined 9 basis points to 1.08% and net loan charge-offs to average loans1 were 0.39%, excluding fraud-related charge-offs. Overall, tangible book value per share1 climbed 13.0% year-over-year to $61.14 with a stable CET1 ratio of 11.0%, while we completed opportunistic quarterly share repurchases of $50.0 million.
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