Western Alliance reports Q3 EPS $1.80, consensus $1.88

Reports Q3 revenue $823.1M, consensus $808.2M. “Western Alliance (WAL) delivered solid third quarter results featuring strong net interest income growth, continued loan and deposit momentum, and healthy earnings generation,” said Kenneth A. Vecchione, CEO. “Quarterly loan and deposit growth of $916 million and $1.8 billion, respectively, continued their upward trajectory and produced PPNR1 of $285.7 million. Asset quality remained stable with our nonperforming assets to total assets ratio declining to 0.45% and net loan charge-offs of 0.20% of average loans. Overall, we achieved net income of $199.8 million and earnings per share of $1.80 for the third quarter 2024, which resulted in a return on tangible common equity1 of 13.8%. Tangible book value per share1 climbed 19.1% year-over-year to $51.98 with a CET1 ratio of 11.2%.”