secwatch.observer — SEC 8-K summary
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Issuer:     WESTERN ALLIANCE BANCORPORATION (WAL)
CIK:        0001212545
Form:       8-K
Filed at:   2023-04-05T23:59:59+00:00
Accession:  0001212545-23-000113
Event type: other_material
Sentiment:  neutral
Materiality: 0.85
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Western Alliance Q1 deposits $47.6B, down $6B from Dec; stabilized and grew after mid-March outflows
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- Total deposits $47.6B at March 31, 2023, vs $53.6B at Dec 31, 2022, a decline of $6.0B.
- Elevated net outflows around SVB and Signature closures in mid-March, concentrated in Tech & Innovation and Settlement Services groups.
- Deposits stabilized and grew ~$900M from March 20 to quarter end; additional $1.2B growth through April 4.
- Insured deposits (including collateralized and pass-through) now ~68% of total deposits, significantly higher than year-end.
- Reciprocal and collateralized deposits drove the increase in insured deposit proportion.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1212545/000121254523000113/0001212545-23-000113-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1212545/000121254523000113/wal-20230405.htm
  HTML page:      https://secwatch.observer/filing/0001212545-23-000113

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