Western Alliance Bancorporation Surveillance Report
Company Profile
Western Alliance Bancorporation (NYSE: WAL; or “the company”) – an ~$83 billion-asset bank holding company headquartered in Phoenix (AZ) – grew materially during the 2020-2022 period, driven principally by very strong organic core deposit flows, as well as the April 2021 acquisition of AmeriHome Mortgage Company, LLC (“AmeriHome”). While growth has normalized somewhat since then, WAL has continued to reflect comparatively strong, deposit-driven balance sheet expansion. The company operates principally through Western Alliance Bank (“WAB”), with AmeriHome as a separate legal entity that is a subsidiary of the bank.
WAL’s diversified commercial banking business combines a regional, Western state, predominantly middle-market C&I and CRE franchise (under locally branded divisions), with select key national lending and deposit verticals. Having begun strategically adding residential mortgage exposure in 2018 by purchasing loans from some of its leading…
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