Western Alliance Q1 net income $142M, EPS $1.28; adjusted EPS $2.30; deposits stabilize

WESTERN ALLIANCE BANCORPORATION

2023-Q1 EPS reported $1.28

Net income $142.2M ($1.28 EPS) vs $293.0M ($2.67) prior quarter; after-tax non-operating charges $109.7M.
Adjusted EPS $2.30 vs $2.74 prior quarter; adjusted PPNR $351.6M, down from $376.9M.
Deposits $47.6B, down $6.1B from Q4; subsequently increased $2.0B through Apr 14; insured deposits 73%.
CET1 ratio 9.4% (up from 9.3%); target CET1 at/above 11%; loan-to-deposit ratio targeting mid-80% range.
Tangible book value per share $41.56, up 3.3% from Q4; net interest margin 3.79% vs 3.98%.

item 2.02 item 9.01

Key facts

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Earnings Releases SEC 8-K Item 2.02 confidence 0.9

WESTERN ALLIANCE BANCORPORATION reported the fiscal quarter ended March 31, 2023 results: revenue $551.9 million, net income $142.2 million, EPS $1.28.

Period: the fiscal quarter ended March 31, 2023
Revenue: $551.9 million
Net income: $142.2 million
EPS: $1.28
Result: reported results

Exact text from the filing

▪ Net income of $142.2 million and earnings per share of $1.28, compared to $293.0 million and $2.67, respectively ▪ Adjusted earnings per share 1 of $2.30 decreased from $2.74 ▪ Net revenue of $551.9 million, a decrease of 21.3%, or $149.3 million, compared to an increase in non-interest expenses of 4.3%, or $14.5 million

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Source: SEC EDGAR

accession 0001212545-23-000119

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