Western Alliance Bancorporation

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Western Alliance Bancorporation
Company typePublic
NYSE: WAL
IndustryBanking
Founded1994; 30 years ago (1994) in Las Vegas, Nevada[1]
HeadquartersPhoenix, Arizona
Area served
Arizona, California, and Nevada
Key people
Bruce Beach (Chairman)
Kenneth Vecchione (President & CEO)
Dale Gibbons (Vice chairman & CFO)
Decrease US$709 million (2023)
Total assetsIncrease $70.862 billion (2023)
Total equityIncrease $6.078 billion (2023)
Number of employees
3,260 (2023)
Websitewesternalliancebancorporation.com
Footnotes / references
[2]

Western Alliance Bancorporation is a regional bank holding company headquartered in Phoenix. It is on the list of largest banks in the United States and is ranked 97th on the Forbes list of America's Best Banks.[3]

The company's banking subsidiaries include Alliance Association Bank, a commercial bank specializing in homeowner associations in Arizona; Alliance Bank of Arizona, a retail bank; Bank of Nevada, a retail bank in Clark County, Nevada; Bridge Bank, a commercial bank in the San Francisco Bay Area with loan production offices in nine states; First Independent Bank, a retail bank in western Nevada, and Torrey Pines Bank, a retail bank in Southern California. Western Alliance also owns AmeriHome Mortgage, a mortgage loan company.[2]

History

The bank was founded in 1994 in Las Vegas, Nevada.[1][4]

In 2010, it moved its headquarters to Phoenix, Arizona.[5]

In October 2012, it acquired Western Liberty Bancorp for $55 million.[6]

In April 2021, the company acquired AmeriHome for $1.22 billion.[7]

During the 2023 United States banking crisis, the company's share price fell due its exposure to the technology sector and its amount of uninsured deposits; however, the share price rallied to new highs quickly.[8]

References

  1. ^ a b "Western Alliance Bancorporation Preliminary Prospectus". U.S. Securities and Exchange Commission. June 17, 2005.
  2. ^ a b "Western Alliance Bancorporation 2023 Annual Report (Form 10-K)". U.S. Securities and Exchange Commission. February 28, 2024.
  3. ^ "America's Best Banks: Western Alliance Bank". Forbes.
  4. ^ Rob Copeland (June 14, 2023). "'Do You Even Want Us to Exist?' A Bank Chief Fights to Survive". The New York Times. ISSN 0362-4331. Wikidata Q119502891.
  5. ^ Edwards, John G. (May 26, 2011). "Western Alliance loses some ties to state". Las Vegas Review-Journal.
  6. ^ "Western Alliance Bancorporation to Acquire Western Liberty Bancorp" (Press release). Business Wire. August 17, 2012.
  7. ^ "Western Alliance Completes Previously Announced AmeriHome Mortgage Company Transaction" (Press release). Business Wire. April 7, 2021.
  8. ^ Reyes, Max; Bradham, Bre (July 18, 2023). "Western Alliance Earnings Give Shot at Winning Back Wary Market". Bloomberg News.
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