Western Alliance Q2 net income $193.6M, EPS $1.75; NIM expands to 3.63%

WESTERN ALLIANCE BANCORPORATION

2024-Q2 EPS reported $3.34 revenue$30,700,000

Net income $193.6M ($1.75 EPS), up 9.1% QoQ from $177.4M, but down 10.2% YoY from $215.7M.
Net interest margin 3.63% vs 3.60% QoQ and 3.42% YoY; PPNR $285.0M, up $38.0M QoQ.
HFI loans $52.4B (+3.4% QoQ); total deposits $66.2B (+6.5% QoQ); loan-to-deposit ratio 79.1%.
Tangible book value per share $48.79, up 13.2% YoY; CET1 ratio 11.0%.
Adjusted efficiency ratio 51.5% (vs 57.3% QoQ); nonperforming assets to total assets 0.51%.

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