---
schema_version: "secwatch.filing_event.v1"
accession: "0001212545-23-000119"
form_type: "8-K"
ticker: "WAL"
cik: "0001212545"
company_name: "WESTERN ALLIANCE BANCORPORATION"
filed_at: "2023-04-18T23:59:59+00:00"
generated_at: "2026-06-17T00:31:47.378711+00:00"
event_type: "earnings"
sentiment: "negative"
materiality_score: 0.85
calibrated_materiality_score: 0.85
confidence: "high"
source: SEC EDGAR
---

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

## Summary
- 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%.

## SEC filing metadata
- accession: 0001212545-23-000119
- form_type: 8-K
- ticker: WAL
- cik: 0001212545
- company_name: WESTERN ALLIANCE BANCORPORATION
- filed_at: 2023-04-18T23:59:59+00:00
- event_type: earnings
- sentiment: negative
- materiality_score: 0.85
- calibrated_materiality_score: 0.85
- confidence: high
- sec_items: 2.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1212545/000121254523000119/0001212545-23-000119-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1212545/000121254523000119/wal-20230418.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001212545-23-000119
- JSON: https://secwatch.observer/filing/0001212545-23-000119.json
- Plain text: https://secwatch.observer/filing/0001212545-23-000119.txt

## Key facts
- Earnings Releases
  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
  source text: ▪ 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
  evidence_url: https://www.sec.gov/Archives/edgar/data/1212545/000121254523000119/0001212545-23-000119-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.