8-K

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 8-K

CURRENT REPORT

Pursuant to Section 13 or 15(d) of the

Securities Exchange Act of 1934

Date of Report (Date of earliest event reported):  January 24, 2023

WESTERN ALLIANCE BANCORPORATION

(Exact name of registrant as specified in its charter)

Delaware	001-32550	88-0365922
(State or other jurisdiction of incorporation)	(Commission File Number)	(IRS Employer Identification No.)

One E. Washington Street, Phoenix, Arizona  85004

 (Address of principal executive offices)               (Zip Code)

(602) 389-3500

(Registrant's telephone number, including area code)

Not Applicable

(Former name or former address, if changed since last report)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

☐ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:

Title of each class	Trading Symbol(s)	Name of each exchange on which registered
Common Stock, $0.0001 Par Value	WAL	New York Stock Exchange
Depositary Shares, Each Representing a 1/400th Interest in a Share of 4.250% Fixed-Rate Reset Non-Cumulative Perpetual Preferred Stock, Series A	WAL PrA	New York Stock Exchange

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

Emerging growth company ☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ¨

ITEM 2.02. RESULTS OF OPERATIONS AND FINANCIAL CONDITION.

On January 24, 2023, Western Alliance Bancorporation (the “Company”) issued a press release reporting results for the fiscal quarter ended December 31, 2022 and posted on its website its fourth quarter 2022 Earnings Conference Call Presentation, which contains certain additional historical and forward-looking information relating to the Company. Copies of the press release and presentation slides are attached hereto as Exhibits 99.1 and 99.2, respectively.  

The information in this report (including Exhibits 99.1 and 99.2 hereto) is being “furnished” and shall not be deemed “filed” for the purposes of Section 18 of the Securities Exchange Act of 1934, as amended, is not subject to the liabilities of that section and is not deemed incorporated by reference in any filing under the Securities Act of 1933, as amended, or the Securities Exchange Act of 1934, as amended, except as shall be expressly set forth by specific reference in such filing.

ITEM 9.01. FINANCIAL STATEMENTS AND EXHIBITS.

(d) Exhibits.

99.1	Press Release dated January 24, 2023
99.2	Fourth Quarter 2022 Earnings Conference Call dated January 25, 2023
104	Cover Page Interactive Data File (embedded within the Inline XBRL document)

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

	WESTERN ALLIANCE BANCORPORATION
	(Registrant)
	/s/ Dale Gibbons
	Dale Gibbons
	Executive Vice President and
	Chief Financial Officer
Date:	January 24, 2023

EX-99.1

Western Alliance Bancorporation
One East Washington Street
Phoenix, AZ 85004
www.westernalliancebancorporation.com

PHOENIX--(BUSINESS WIRE)--January 24, 2023

FOURTH QUARTER AND FULL YEAR 2022 FINANCIAL RESULTS

Fourth Quarter Highlights:
Net income	Earnings per share	PPNR1	Net interest margin	Efficiency ratio1	Book value per common share
$293.0 million	$2.67	$367.8 million	3.98%	46.9%	$46.47
					$40.251, excluding goodwill and intangibles

CEO COMMENTARY:

“Western Alliance’s diversified, national commercial business strategy drove the strong momentum that was sustained throughout the year, closing out the fourth quarter with record revenues, earnings and tangible book value as we thoughtfully deployed liquidity into sound organic growth,” said Kenneth A. Vecchione, President and Chief Executive Officer. “We achieved a record $293.0 million in net income and earnings per share of $2.67 for the quarter, an increase of 15.1% from the prior year, while tangible book value per share rose 6.4% year-over-year to $40.25. Quarterly deposits declined $1.9 billion, primarily driven by short-term seasonal tax and insurance escrow deposit outflows in our Mortgage Warehouse Group. These seasonal factors have already reversed since year end, with quarter-to-date 2023 average total deposit balances up more than $2.4 billion."

“Western Alliance’s full year results are a direct reflection of our collaborative culture and flexible business model that strongly position us to sustain our earnings trajectory into 2023, all while continuing our focus on asset quality. Net charge-offs for the year totaled a modest $1.5 million, with a non-performing assets to total assets ratio of 0.14% at the end of the year. Our growing net interest income during the year drove an increase in earnings as PPNR climbed 25.7% over the prior year to $1.4 billion, with net income of $1.1 billion and earnings per share up 11.9% to $9.70.”

Acquisition of Digital Disbursements and AmeriHome Mortgage Company:

On January 25, 2022, the Company completed its acquisition of Digital Settlement Technologies LLC, doing business as Digital Disbursements, a digital payments platform for the class action legal industry. On April 7, 2021, the Company completed its acquisition of Aris Mortgage Holding Company, LLC, the parent company of AmeriHome Mortgage Company, LLC ("AmeriHome"). The Company's results include the financial results of Digital Disbursements and AmeriHome beginning on the acquisition dates noted.

LINKED-QUARTER BASIS	FULL YEAR
FINANCIAL HIGHLIGHTS:

▪Net income of $293.0 million and earnings per share of $2.67, compared to $264.0 million and $2.42, respectively

▪Net revenue of $701.2 million, an increase of 5.6%, or $37.3 million, compared to an increase in non-interest expenses of 9.0%, or $27.6 million

▪Pre-provision net revenue1 of $367.8 million, up $9.7 million from $358.1 million

▪Effective tax rate of 19.7%, compared to 19.9%

▪Net income of $1.1 billion and earnings per share of $9.70, up 17.6% and 11.9%, from $899.2 million and $8.67, respectively

▪Net revenue of $2.5 billion, an increase of 30.1%, or $587.9 million, compared to an increase in non-interest expenses of 35.9%, or $305.3 million

▪Pre-provision net revenue1 of $1.4 billion, up $282.6 million from $1.1 billion

▪Effective tax rate of 19.7%, compared to 19.9%

FINANCIAL POSITION RESULTS:

▪HFI loans of $51.9 billion, down $339 million, or 0.6%

▪Total deposits of $53.6 billion, down $1.9 billion, or 3.5%

▪Stockholders' equity of $5.4 billion, up $335 million

▪Increase in HFI loans of $10.9 billion, or 27.9%, net of EBO loans with a $1.9 billion balance at December 31, 2022 transferred from HFS to HFI during 2022

▪Increase in total deposits of $6.0 billion, or 12.7%

▪Increase in stockholders' equity of $393 million

LOANS AND ASSET QUALITY:

▪Nonperforming assets (nonaccrual loans and repossessed assets) to total assets of 0.14%, compared to 0.15%

▪Annualized net loan charge-offs (recoveries) to average loans outstanding of 0.01%, compared to (0.02)%

▪Nonperforming assets to total assets of 0.14%, compared to 0.15%

▪Net loan charge-offs (recoveries) to average loans outstanding of approximately 0.00%, compared to 0.02%

KEY PERFORMANCE METRICS:

▪Net interest margin of 3.98%, compared to 3.78%

▪Return on average assets and on tangible common equity1 of 1.67% and 27.0%, compared to 1.53% and 24.9%, respectively

▪Tangible common equity ratio1 of 6.5%, compared to 5.9%

▪CET 1 ratio of 9.3%, compared to 8.7%

▪Tangible book value per share1, net of tax, of $40.25, an increase of 8.3% from $37.16

▪Efficiency ratio1 of 46.9%,compared to 45.5%

▪Net interest margin of 3.67%, compared to 3.41%

▪Return on average assets and on tangible common equity1 of 1.62% and 25.4%, compared to 1.83% and 26.2%, respectively

▪Tangible common equity ratio1 of 6.5%, compared to 7.3%

▪CET 1 ratio of 9.3%, compared to 9.1%

▪Tangible book value per share1, net of tax, of $40.25, an increase of 6.4% from $37.84

▪Efficiency ratio1 of 44.9%, compared to 42.9%

1     See reconciliation of Non-GAAP Financial Measures starting on page 19.

Income Statement

Net interest income was $639.7 million in the fourth quarter 2022, an increase of $37.6 million from $602.1 million in the third quarter 2022, and an increase of $189.1 million, or 42.0%, compared to the fourth quarter 2021. The increase in net interest income from the third quarter 2022 is due to a higher rate environment, which drove an increase in yields on interest earning assets and also pushed interest rates higher on deposits and short-term borrowings. HFI loan growth and higher yields on HFI loans, partially offset by higher interest rates on deposits and an increase in other borrowings, drove the increase in net interest income from the fourth quarter 2021.

The Company recorded a provision for credit losses of $3.1 million in the fourth quarter 2022, a decrease of $25.4 million from $28.5 million in the third quarter 2022, and a decrease of $10.1 million from $13.2 million in the fourth quarter 2021. The provision for credit losses during the fourth quarter 2022 is primarily due to heightened economic uncertainty, offset by a decrease in loans.

The Company’s net interest margin in the fourth quarter 2022 was 3.98%, an increase from 3.78% in the third quarter 2022, and an increase from 3.33% in the fourth quarter 2021. The higher rate environment drove an increase in net interest margin, with yields on interest earning assets more than offsetting the increase in rates on deposits and borrowings. The increase in net interest margin from the fourth quarter 2021 was driven by HFI loan growth plus an increase in rates, partially offset by higher deposits and borrowings coupled with higher rates.

Non-interest income was $61.5 million for the fourth quarter 2022, compared to $61.8 million for the third quarter 2022, and $110.4 million for the fourth quarter 2021. The $0.3 million decrease in non-interest income from the third quarter 2022 was primarily related to fair value loss adjustments from HFI loans transferred to HFS and sold in the fourth quarter 2022 and a revaluation in the third quarter 2022 of the contingent consideration liability related to the Digital Disbursements acquisition that did not recur. These items were partially offset by a $10.9 million increase in net gain on loan origination and sale activities due to gains from hedging activity, partially offset by a reduction in spreads and production volume. Net loan servicing revenue decreased $1.6 million due to a decrease in the value of MSRs, which was partially offset by an increase in servicing revenue. The $48.9 million decrease from the fourth quarter 2021 was driven by a decrease in net gain on loan origination and sale activities of $47.8 million from lower production volume, partially offset by a $19.1 million increase in loan servicing revenue.

Net revenue was $701.2 million for the fourth quarter 2022, an increase of $37.3 million, or 5.6%, compared to $663.9 million for the third quarter 2022, and an increase of $140.2 million, or 25.0%, compared to $561.0 million for the fourth quarter 2021. 

Non-interest expense was $333.4 million for the fourth quarter 2022, compared to $305.8 million for the third quarter 2022, and $237.8 million for the fourth quarter 2021. The Company’s efficiency ratio1 was 46.9% for the fourth quarter 2022, compared to 45.5% in the third quarter 2022, and 41.8% for the fourth quarter 2021. Non-interest expense increased from the third quarter 2022 due primarily to increased deposit costs. The increase in non-interest expense from the fourth quarter 2021 is also attributable to increased deposit costs.

Income tax expense was $71.7 million for the fourth quarter 2022, compared to $65.6 million for the third quarter 2022, and $64.0 million for the fourth quarter 2021.

Net income was $293.0 million for the fourth quarter 2022, an increase of $29.0 million from $264.0 million for the third quarter 2022, and an increase of $47.0 million from $246.0 million for the fourth quarter 2021. Earnings per share totaled $2.67 for the fourth quarter 2022, compared to $2.42 for the third quarter 2022, and $2.32 for the fourth quarter 2021.

The Company views its pre-provision net revenue1 ("PPNR") as a key metric for assessing the Company’s earnings power, which it defines as net revenue less non-interest expense. For the fourth quarter 2022, the Company’s PPNR1 was $367.8 million, up $9.7 million from $358.1 million in the third quarter 2022, and up $44.6 million from $323.2 million in the fourth quarter 2021.

The Company had 3,365 full-time equivalent employees and 56 offices at December 31, 2022, compared to 3,368 employees and 60 offices at September 30, 2022, and 3,139 employees and 58 offices at December 31, 2021.

1    See reconciliation of Non-GAAP Financial Measures starting on page 19.

2

Balance Sheet

HFI loans, net of deferred fees totaled $51.9 billion at December 31, 2022, compared to $52.2 billion at September 30, 2022, and $39.1 billion at December 31, 2021. The decrease in HFI loans of $339 million from the prior quarter was driven by a decrease of $1.6 billion in commercial and industrial loans, partially offset by increases of $651 million in CRE non-owner occupied, $392 million in construction and land development, and $254 million in residential real estate loans. From December 31, 2021, HFI loan growth of $10.9 billion (which excludes transfers of government guaranteed early buyout ("EBO") residential loans from HFS to HFI in 2022 with a balance of $1.9 billion at December 31, 2022), was primarily driven by residential real estate, commercial and industrial, and CRE non-owner occupied, loans which increased $4.8 billion, $2.8 billion, and, $2.4 billion respectively.

The Company's allowance for credit losses on HFI loans consists of an allowance for funded HFI loans and an allowance for unfunded loan commitments. At December 31, 2022, the allowance for loan losses to funded HFI loans ratio was 0.60%, compared to 0.58% at September 30, 2022, and 0.65% at December 31, 2021. The allowance for credit losses, which includes the allowance for unfunded loan commitments, to funded HFI loans ratio was 0.69% at December 31, 2022, compared to 0.68% at September 30, 2022, and 0.74% at December 31, 2021. The Company is a party to credit linked note transactions, which effectively transfer a portion of the risk of losses on reference pools of loans to the purchasers of the notes. As of December 31, 2022, September 30, 2022, and December 31, 2021, the Company is protected from first credit losses on reference pools of loans totaling $12.0 billion, $10.8 billion, and $6.4 billion, respectively, under these transactions. However, as these note transactions are considered to be free standing credit enhancements, the allowance for credit losses cannot be reduced by the expected credit losses that may be mitigated by these notes. Accordingly, the allowance for loan and credit losses ratios include an allowance of $21.9 million as of December 31, 2022, $19 million as of September 30, 2022, and $7.2 million as of December 31, 2021, related to these pools of loans. The allowance for credit losses to funded HFI loans ratio, adjusted to reduce the HFI loan balance by the amount of loans in covered reference pools, was 0.89% at December 31, 2022, 0.86% at September 30, 2022, and 0.89% at December 31, 2021.

Deposits totaled $53.6 billion at December 31, 2022, a decrease of $1.9 billion from $55.6 billion at September 30, 2022, and an increase of $6.0 billion from $47.6 billion at December 31, 2021. By deposit type, the decrease from the prior quarter is attributable to a decrease of $5.2 billion from non-interest bearing demand deposits, partially offset by increases of $1.9 billion from certificates of deposits, $1.2 billion from interest bearing demand deposits, and $195 million from savings and money market accounts. From December 31, 2021, certificates of deposit, interest-bearing demand deposits, and savings and money market accounts increased by $3.0 billion, $2.6 billion, and $2.1 billion, respectively. These increases were partially offset by a decrease in non-interest bearing demand deposits of $1.7 billion. Non-interest bearing deposits were $19.7 billion at December 31, 2022, compared to $24.9 billion at September 30, 2022, and $21.4 billion at December 31, 2021.

The table below shows the Company's deposit types as a percentage of total deposits:

	Dec 31, 2022		Sep 30, 2022		Dec 31, 2021
Non-interest bearing	36.7	%	44.8	%	44.9	%
Savings and money market	36.2		34.6		36.3
Interest-bearing demand	17.7		15.0		14.5
Certificates of deposit	9.4		5.6		4.3

The Company’s ratio of HFI loans to deposits was 96.7% at December 31, 2022, compared to 93.9% at September 30, 2022, and 82.1% at December 31, 2021.

Borrowings were $6.3 billion at December 31, 2022 and September 30, 2022, and $1.5 billion at December 31, 2021. Borrowings remained flat from September 30, 2022 due primarily to the issuance of $93 million of credit linked notes in the fourth quarter 2022 offset by a decrease in short-term borrowings. The increase in borrowings from December 31, 2021 is due to an increase in short-term borrowings of $4.3 billion and issuance of $579 million of credit linked notes, net of issuance costs, during 2022.

Qualifying debt totaled $893 million at December 31, 2022, compared to $889 million at September 30, 2022, and $896 million at December 31, 2021.

Stockholders’ equity was $5.4 billion at December 31, 2022, compared to $5.0 billion at September 30, 2022 and December 31, 2021. The increase in stockholders’ equity quarter over quarter was due to net income and unrealized fair value gains of approximately $77 million on the Company's available for sale securities, which are recorded in other comprehensive (loss) income, net of tax, partially offset by dividends to shareholders. A cash dividend of $0.36 per share was paid to common shareholders on December 2, 2022, totaling $39.2 million, and a cash dividend of $0.27 per depository share was paid to preferred shareholders on December 30, 2022, totaling $3.2 million. The increase in stockholders' equity from December 31, 2021 is primarily a function of net income and sales of common stock under the Company's ATM program, partially offset by dividends to shareholders and unrealized fair value losses on available for sale securities.

At December 31, 2022, tangible common equity, net of tax1, was 6.5% of tangible assets1 and total capital was 12.1% of risk-weighted assets. The Company’s tangible book value per share1 was $40.25 at December 31, 2022, an increase of 8.3% from $37.16, and up 6.4% from $37.84 at December 31, 2021. The increase in tangible book value per share from September 30, 2022 is attributable to net income and fair value marks on the Company's available for sale securities, which are recorded in other comprehensive (loss) income, net of tax.

Total assets decreased 2.1% to $67.7 billion at December 31, 2022, from $69.2 billion at September 30, 2022, and increased 21.0% from $56.0 billion at December 31, 2021. The decrease in total assets from September 30, 2022 and December 31, 2021 was driven by decreases in HFS and HFI loans.

1     See reconciliation of Non-GAAP Financial Measures starting on page 19.

3

Asset Quality

Provision for credit losses totaled $3.1 million for the fourth quarter 2022, compared to $28.5 million for the third quarter 2022, and $13.2 million for the fourth quarter 2021. Net loan charge-offs (recoveries) in the fourth quarter 2022 were $1.8 million, or 0.01% of average loans (annualized), compared to $(1.9) million, or (0.02)%, in the third quarter 2022, and $1.4 million, or 0.02%, in the fourth quarter 2021.

Nonaccrual loans decreased $5 million to $85 million during the quarter and increased $12 million from December 31, 2021. Loans past due 90 days and still accruing interest were zero (excluding government guaranteed loans of $582 million) at December 31, 2022, compared to zero at September 30, 2022 and December 31, 2021 (excluding government guaranteed loans of $644 million and zero at September 30, 2022 and December 31, 2021, respectively). Loans past due 30-89 days and still accruing interest totaled $70 million (excluding government guaranteed loans of $334 million) at December 31, 2022, an increase from $56 million at September 30, 2022, and an increase from $53 million at December 31, 2021 (excluding government guaranteed loans of $245 million and zero at September 30, 2022 and December 31, 2021, respectively).

Repossessed assets totaled $11 million at December 31, 2022, flat from September 30, 2022, and a $1 million decrease from $12 million at December 31, 2021. Classified assets totaled $393 million at December 31, 2022, an increase of $8 million from $385 million at September 30, 2022, and an increase of $92 million from $301 million at December 31, 2021.

The ratio of classified assets to Tier 1 capital plus the allowance for credit losses, a common regulatory measure of asset quality, was 6.8% at December 31, 2022, compared to 7.0% at September 30, 2022, and 6.4% at December 31, 2021.

1     See reconciliation of Non-GAAP Financial Measures starting on page 19.

4

Segment Highlights

The Company's reportable segments are aggregated with a focus on products and services offered and consist of three reportable segments:

–Commercial segment: provides commercial banking and treasury management products and services to small and middle-market businesses, specialized banking services to sophisticated commercial institutions and investors within niche industries, as well as financial services to the real estate industry.

–Consumer Related segment: offers both commercial banking services to enterprises in consumer-related sectors and consumer banking services, such as residential mortgage banking and beginning on January 25, 2022 includes the financial results of Digital Disbursements.

–Corporate & Other segment: consists of the Company's investment portfolio, Corporate borrowings and other related items, income and expense items not allocated to our other reportable segments, and inter-segment eliminations.

Key management metrics for evaluating the performance of the Company's Commercial and Consumer Related segments include loan and deposit growth, asset quality, and pre-tax income.

The Commercial segment reported an HFI loan balance of $31.4 billion at December 31, 2022, a decrease of $646 million during the quarter, and an increase of $6.3 billion during the year. Deposits for the Commercial segment totaled $29.5 billion at December 31, 2022, a decrease of $512 million during the quarter, and a decrease of $973 million during the year.

Pre-tax income for the Commercial segment was $320.5 million for the three months ended December 31, 2022, an increase of $22.3 million from the three months ended September 30, 2022, and an increase of $82.2 million from the three months ended December 31, 2021. For the year ended December 31, 2022, the Commercial segment reported total pre-tax income of $1.1 billion, an increase of $233.8 million compared to the year ended December 31, 2021.

The Consumer Related segment reported an HFI loan balance of $20.4 billion at December 31, 2022, an increase of $307 million during the quarter, and an increase of $6.5 billion during the year. The Consumer Related segment also has loans held for sale of $1.2 billion at December 31, 2022, a decrease of $1.0 billion during the quarter, and a decrease of $4.5 billion during the year. Deposits for the Consumer Related segment totaled $18.5 billion, a decrease of $2.5 billion during the quarter, and an increase of $3.1 billion during the year.

Pre-tax income for the Consumer Related segment was $69.8 million for the three months ended December 31, 2022, a decrease of $23.4 million from the three months ended September 30, 2022, and a decrease of $65.2 million from the three months ended December 31, 2021. Pre-tax income for the Consumer Related segment for the year ended December 31, 2022 totaled $450.1 million, a decrease of $46.0 million compared to the year ended December 31, 2021.

5

Conference Call and Webcast

Western Alliance Bancorporation will host a conference call and live webcast to discuss its fourth quarter 2022 financial results at 12:00 p.m. ET on Wednesday, January 25, 2023. Participants may access the call by dialing 1-844-200-6205 and using access code 669213 or via live audio webcast using the website link https://events.q4inc.com/attendee/484930167. The webcast is also available via the Company’s website at www.westernalliancebancorporation.com. Participants should log in at least 15 minutes early to receive instructions. The call will be recorded and made available for replay after 3:00 p.m. ET January 25th through 11:00 p.m. ET February 25th by dialing 1-866-813-9403, using access code 597938.

Reclassifications

Certain amounts in the Consolidated Income Statements for the prior periods have been reclassified to conform to the current presentation. The reclassifications have no effect on net income or stockholders’ equity as previously reported.

Use of Non-GAAP Financial Information

This press release contains both financial measures based on GAAP and non-GAAP based financial measures, which are used where management believes them to be helpful in understanding the Company’s results of operations or financial position. Where non-GAAP financial measures are used, the comparable GAAP financial measure, as well as the reconciliation to the comparable GAAP financial measure, can be found in this press release. These disclosures should not be viewed as a substitute for operating results determined in accordance with GAAP, nor are they necessarily comparable to non-GAAP performance measures that may be presented by other companies.

Cautionary Note Regarding Forward-Looking Statements

This release contains forward-looking statements that relate to expectations, beliefs, projections, future plans and strategies, anticipated events or trends and similar expressions concerning matters that are not historical facts. Examples of forward-looking statements include, among others, statements we make regarding our expectations with regard to our business, financial and operating results, future economic performance and dividends. The forward-looking statements contained herein reflect our current views about future events and financial performance and are subject to risks, uncertainties, assumptions and changes in circumstances that may cause our actual results to differ significantly from historical results and those expressed in any forward-looking statement. Some factors that could cause actual results to differ materially from historical or expected results include, among others: the risk factors discussed in the Company’s Annual Report on Form 10-K for the year ended December 31, 2021 and the Company's subsequent Quarterly Reports on Form 10-Q, each as filed with the Securities and Exchange Commission; the potential adverse effects of unusual and infrequently occurring events such as the COVID-19 pandemic and any governmental or societal responses thereto; changes in general economic conditions, either nationally or locally in the areas in which we conduct or will conduct our business; the impact on financial markets from geopolitical conflicts such as the war between Russia and Ukraine; inflation, interest rate, market and monetary fluctuations; increases in competitive pressures among financial institutions and businesses offering similar products and services; higher defaults on our loan portfolio than we expect; changes in management’s estimate of the adequacy of the allowance for credit losses; legislative or regulatory changes or changes in accounting principles, policies or guidelines; supervisory actions by regulatory agencies which may limit our ability to pursue certain growth opportunities, including expansion through acquisitions; additional regulatory requirements resulting from our continued growth; management’s estimates and projections of interest rates and interest rate policy; the execution of our business plan; and other factors affecting the financial services industry generally or the banking industry in particular.

Any forward-looking statement made by us in this release is based only on information currently available to us and speaks only as of the date on which it is made. We do not intend and disclaim any duty or obligation to update or revise any industry information or forward-looking statements, whether written or oral, that may be made from time to time, set forth in this press release to reflect new information, future events or otherwise.

About Western Alliance Bancorporation

With more than $65 billion in assets, Western Alliance Bancorporation (NYSE:WAL) is one of the country’s top-performing banking companies. Through its primary subsidiary, Western Alliance Bank, Member FDIC, business clients benefit from a full spectrum of tailored banking solutions and outstanding service delivered by industry experts who put customers first. Major accolades include #2 best-performing of the 50 largest public U.S. banks in the S&P Global Market Intelligence listing for 2021, and #1 Best Emerging Regional Bank for 2022 by Bank Director. Serving clients across the country wherever business happens, Western Alliance Bank operates individual, full-service banking and financial brands with offices in key markets nationwide. For more information, visit westernalliancebank.com.

6

Western Alliance Bancorporation and Subsidiaries
Summary Consolidated Financial Data
Unaudited
Selected Balance Sheet Data:
							As of December 31,
							2022		2021		Change %
							(in millions)
Total assets							$	67,734	$	55,983	21.0	%
Loans held for sale							1,184		5,635		(79.0)
HFI loans, net of deferred fees							51,862		39,075		32.7
Investment securities							8,760		7,541		16.2
Total deposits							53,644		47,612		12.7
Borrowings							6,299		1,502		NM
Qualifying debt							893		896		(0.3)
Stockholders' equity							5,356		4,963		7.9
Tangible common equity, net of tax (1)							4,383		4,035		8.6
Common equity Tier 1 capital							5,073		4,068		24.7
Selected Income Statement Data:
	For the Three Months Ended December 31,						For the Year Ended December 31,
	2022		2021		Change %		2022		2021		Change %
	(in millions, except per share data)						(in millions, except per share data)
Interest income	$	888.3	$	483.3	83.8	%	$	2,691.8	$	1,658.7	62.3	%
Interest expense	248.6		32.7		NM		475.5		109.9		NM
Net interest income	639.7		450.6		42.0		2,216.3		1,548.8		43.1
Provision for (recovery of) credit losses	3.1		13.2		(76.5)		68.1		(21.4)		NM
Net interest income after provision for credit losses	636.6		437.4		45.5		2,148.2		1,570.2		36.8
Non-interest income	61.5		110.4		(44.3)		324.6		404.2		(19.7)
Non-interest expense	333.4		237.8		40.2		1,156.7		851.4		35.9
Income before income taxes	364.7		310.0		17.6		1,316.1		1,123.0		17.2
Income tax expense	71.7		64.0		12.0		258.8		223.8		15.6
Net income	293.0		246.0		19.1		1,057.3		899.2		17.6
Dividends on preferred stock	3.2		3.5		(8.6)		12.8		3.5		NM
Net income available to common stockholders	$	289.8	$	242.5	19.5		$	1,044.5	$	895.7	16.6
Diluted earnings per common share	$	2.67	$	2.32	15.1		$	9.70	$	8.67	11.9

(1)    See Reconciliation of Non-GAAP Financial Measures.

NM    Changes +/- 100% are not meaningful.

7

Western Alliance Bancorporation and Subsidiaries
Summary Consolidated Financial Data
Unaudited
Common Share Data:
	At or For the Three Months Ended December 31,						For the Year Ended December 31,
	2022		2021		Change %		2022		2021		Change %
Diluted earnings per common share	$	2.67	$	2.32	15.1	%	$	9.70	$	8.67	11.9%
Book value per common share	46.47		43.78		6.1
Tangible book value per common share, net of tax (1)	40.25		37.84		6.4
Average common shares outstanding (in millions):
Basic	108.0		103.9		4.0		107.2		102.7		4.4
Diluted	108.4		104.5		3.7		107.6		103.3		4.2
Common shares outstanding	108.9		106.6		2.1

Selected Performance Ratios:
Return on average assets (2)	1.67	%	1.69	%	(1.2)	%	1.62	%	1.83	%	(11.5)	%
Return on average tangible common equity (1, 2)	27.0		25.8		4.7		25.4		26.2		(3.1)
Return on average tangible common equity, excluding AOCI (1, 2)	23.1		26.0		(11.2)		23.1		26.6		(13.2)
Net interest margin (2)	3.98		3.33		19.5		3.67		3.41		7.6
Efficiency ratio - tax equivalent basis (1)	46.9		41.8		12.2		44.9		42.9		4.7
Loan to deposit ratio	96.7		82.1		17.8
Asset Quality Ratios:
Net charge-offs (recoveries) to average loans outstanding (2)	0.01	%	0.02	%	(50.0)	%	0.00	%	0.02	%	NM
Nonaccrual loans to funded HFI loans	0.16		0.19		(15.8)
Nonaccrual loans and repossessed assets to total assets	0.14		0.15		(6.7)
Allowance for loan losses to funded HFI loans	0.60		0.65		(7.7)
Allowance for loan losses to nonaccrual HFI loans	364		348		4.6

Capital Ratios:
	Dec 31, 2022		Sep 30, 2022		Dec 31, 2021
Tangible common equity (1)	6.5	%	5.9	%	7.3	%
Common Equity Tier 1 (3)	9.3		8.7		9.1
Tier 1 Leverage ratio (3)	7.8		7.5		7.8
Tier 1 Capital (3)	10.0		9.3		9.9
Total Capital (3)	12.1		11.4		12.3

(1)    See Reconciliation of Non-GAAP Financial Measures.

(2)    Annualized on an actual/actual basis for periods less than 12 months.

(3)    Capital ratios for December 31, 2022 are preliminary.

NM    Changes +/- 100% are not meaningful.

8

Western Alliance Bancorporation and Subsidiaries
Condensed Consolidated Income Statements
Unaudited
	Three Months Ended December 31,				Year Ended December 31,
	2022		2021		2022		2021
	(dollars in millions, except per share data)
Interest income:
Loans	$	785.1	$	438.6	$	2,393.4	$	1,488.8
Investment securities	89.4		43.7		272.6		164.7
Other	13.8		1.0		25.8		5.2
Total interest income	888.3		483.3		2,691.8		1,658.7
Interest expense:
Deposits	157.6		12.8		276.4		47.5
Qualifying debt	9.1		9.2		35.0		33.1
Borrowings	81.9		10.7		164.1		29.3
Total interest expense	248.6		32.7		475.5		109.9
Net interest income	639.7		450.6		2,216.3		1,548.8
Provision for (recovery of) credit losses	3.1		13.2		68.1		(21.4)
Net interest income after provision for credit losses	636.6		437.4		2,148.2		1,570.2
Non-interest income:
Net gain on loan origination and sale activities	25.4		73.2		104.0		326.2
Net loan servicing revenue (expense)	21.4		2.3		130.9		(16.3)
Service charges and fees	5.9		7.1		27.0		28.3
Commercial banking related income	5.5		4.9		21.5		17.4
Income from equity investments	4.2		5.2		17.8		22.1
Gain on recovery from credit guarantees	3.0		7.2		14.7		7.2
Gain on sales of investment securities	0.1		8.3		6.8		8.3
Fair value loss adjustments on assets measured at fair value, net	(9.2)		(0.8)		(28.6)		(1.3)
Other	5.2		3.0		30.5		12.3
Total non-interest income	61.5		110.4		324.6		404.2
Non-interest expenses:
Salaries and employee benefits	125.7		120.6		539.5		466.7
Deposit costs	82.2		9.1		165.8		29.8
Legal, professional, and directors' fees	26.0		20.8		99.9		58.6
Data processing	23.9		17.9		83.0		58.2
Occupancy	15.8		12.4		55.5		43.8
Loan servicing expenses	14.8		15.6		55.5		53.5
Insurance	8.9		7.1		31.1		23.0
Business development and marketing	7.3		6.1		22.1		13.5
Loan acquisition and origination expenses	4.4		8.6		23.1		28.8
Loss on extinguishment of debt	—		5.9		—		5.9
Net gain on sales and valuations of repossessed and other assets	(0.3)		(0.4)		(0.7)		(3.5)
Acquisition and restructure expenses (recoveries)	—		(3.2)		0.4		15.3
Other	24.7		17.3		81.5		57.8
Total non-interest expense	333.4		237.8		1,156.7		851.4
Income before income taxes	364.7		310.0		1,316.1		1,123.0
Income tax expense	71.7		64.0		258.8		223.8
Net income	293.0		246.0		1,057.3		899.2
Dividends on preferred stock	3.2		3.5		12.8		3.5
Net income available to common stockholders	$	289.8	$	242.5	$	1,044.5	$	895.7
Earnings per common share:
Diluted shares	108.4		104.5		107.6		103.3
Diluted earnings per share	$	2.67	$	2.32	$	9.70	$	8.67

9

Western Alliance Bancorporation and Subsidiaries
Five Quarter Condensed Consolidated Income Statements
Unaudited
	Three Months Ended
	Dec 31, 2022		Sep 30, 2022		Jun 30, 2022		Mar 31, 2022		Dec 31, 2021
	(in millions, except per share data)
Interest income:
Loans	$	785.1	$	657.0	$	516.6	$	434.7	$	438.6
Investment securities	89.4		75.9		59.3		48.0		43.7
Other	13.8		6.5		3.7		1.8		1.0
Total interest income	888.3		739.4		579.6		484.5		483.3
Interest expense:
Deposits	157.6		77.6		27.1		14.1		12.8
Qualifying debt	9.1		8.9		8.6		8.4		9.2
Borrowings	81.9		50.8		18.9		12.5		10.7
Total interest expense	248.6		137.3		54.6		35.0		32.7
Net interest income	639.7		602.1		525.0		449.5		450.6
Provision for credit losses	3.1		28.5		27.5		9.0		13.2
Net interest income after provision for credit losses	636.6		573.6		497.5		440.5		437.4
Non-interest income:
Net gain on loan origination and sale activities	25.4		14.5		27.2		36.9		73.2
Net loan servicing revenue	21.4		23.0		45.4		41.1		2.3
Service charges and fees	5.9		6.5		7.6		7.0		7.1
Commercial banking related income	5.5		5.1		5.8		5.1		4.9
Income from equity investments	4.2		4.3		5.2		4.1		5.2
Gain on recovery from credit guarantees	3.0		0.4		9.0		2.3		7.2
Gain (loss) on sales of investment securities	0.1		—		(0.2)		6.9		8.3
Fair value loss adjustments on assets measured at fair value, net	(9.2)		(2.8)		(10.0)		(6.6)		(0.8)
Other	5.2		10.8		5.0		9.5		3.0
Total non-interest income	61.5		61.8		95.0		106.3		110.4
Non-interest expenses:
Salaries and employee benefits	125.7		136.5		139.0		138.3		120.6
Deposit costs	82.2		56.2		18.1		9.3		9.1
Legal, professional, and directors' fees	26.0		24.8		25.1		24.0		20.8
Data processing	23.9		21.8		19.7		17.6		17.9
Occupancy	15.8		13.9		13.0		12.8		12.4
Loan servicing expenses	14.8		15.2		14.7		10.8		15.6
Insurance	8.9		8.1		6.9		7.2		7.1
Business development and marketing	7.3		5.0		5.4		4.4		6.1
Loan acquisition and origination expenses	4.4		5.8		6.4		6.5		8.6
Net (gain) loss on sales and valuations of repossessed and other assets	(0.3)		(0.2)		(0.3)		0.1		(0.4)
Loss on extinguishment of debt	—		—		—		—		5.9
Acquisition and restructure expenses (recoveries)	—		—		—		0.4		(3.2)
Other	24.7		18.7		20.9		17.2		17.3
Total non-interest expense	333.4		305.8		268.9		248.6		237.8
Income before income taxes	364.7		329.6		323.6		298.2		310.0
Income tax expense	71.7		65.6		63.4		58.1		64.0
Net income	293.0		264.0		260.2		240.1		246.0
Dividends on preferred stock	3.2		3.2		3.2		3.2		3.5
Net income available to common stockholders	$	289.8	$	260.8	$	257.0	$	236.9	$	242.5
Earnings per common share:
Diluted shares	108.4		107.9		107.7		106.6		104.5
Diluted earnings per share	$	2.67	$	2.42	$	2.39	$	2.22	$	2.32

10

Western Alliance Bancorporation and Subsidiaries
Five Quarter Condensed Consolidated Balance Sheets
Unaudited
	Dec 31, 2022		Sep 30, 2022		Jun 30, 2022		Mar 31, 2022		Dec 31, 2021
	(in millions)
Assets:
Cash and due from banks	$	1,043	$	1,610	$	1,886	$	2,602	$	516
Investment securities	8,760		8,603		8,802		8,277		7,541
Loans held for sale	1,184		2,204		2,803		4,762		5,635
Loans held for investment:
Commercial and industrial	20,710		22,318		20,754		17,862		18,297
Commercial real estate - non-owner occupied	9,319		8,668		7,775		6,849		6,526
Commercial real estate - owner occupied	1,818		1,848		1,848		1,805		1,898
Construction and land development	4,013		3,621		3,231		3,278		3,023
Residential real estate	15,928		15,674		14,908		11,270		9,282
Consumer	74		72		56		55		49
Loans HFI, net of deferred fees	51,862		52,201		48,572		41,119		39,075
Allowance for loan losses	(310)		(304)		(273)		(258)		(252)
Loans HFI, net of deferred fees and allowance	51,552		51,897		48,299		40,861		38,823
Mortgage servicing rights	1,148		1,044		826		950		698
Premises and equipment, net	276		237		210		196		182
Operating lease right-of-use asset	163		131		136		142		133
Other assets acquired through foreclosure, net	11		11		12		12		12
Bank owned life insurance	182		181		180		179		180
Goodwill and other intangibles, net	680		682		695		698		635
Other assets	2,735		2,565		2,206		1,897		1,628
Total assets	$	67,734	$	69,165	$	66,055	$	60,576	$	55,983
Liabilities and Stockholders' Equity:
Liabilities:
Deposits
Non-interest bearing demand deposits	$	19,691	$	24,926	$	23,721	$	23,520	$	21,353
Interest bearing:
Demand	9,507		8,350		8,387		8,268		6,924
Savings and money market	19,397		19,202		19,026		18,553		17,279
Certificates of deposit	5,049		3,111		2,578		1,818		2,056
Total deposits	53,644		55,589		53,712		52,159		47,612
Borrowings	6,299		6,319		5,210		833		1,502
Qualifying debt	893		889		891		893		896
Operating lease liability	185		149		151		155		143
Accrued interest payable and other liabilities	1,357		1,198		1,132		1,524		867
Total liabilities	62,378		64,144		61,096		55,564		51,020
Stockholders' Equity:
Preferred stock	295		295		295		295		295
Common stock and additional paid-in capital	2,058		2,049		1,990		1,979		1,879
Retained earnings	3,664		3,413		3,192		2,973		2,773
Accumulated other comprehensive (loss) income	(661)		(736)		(518)		(235)		16
Total stockholders' equity	5,356		5,021		4,959		5,012		4,963
Total liabilities and stockholders' equity	$	67,734	$	69,165	$	66,055	$	60,576	$	55,983

11

Western Alliance Bancorporation and Subsidiaries
Changes in the Allowance For Credit Losses on Loans
Unaudited
	Three Months Ended
	Dec 31, 2022			Sep 30, 2022			Jun 30, 2022			Mar 31, 2022			Dec 31, 2021
	(in millions)
Allowance for loan losses
Balance, beginning of period	$	304.1		$	273.2		$	257.6		$	252.5		$	246.9
Provision for credit losses (1)	7.4			29.0			17.0			5.3			7.0
Recoveries of loans previously charged-off:
Commercial and industrial	0.3			3.8			0.8			2.4			1.8
Commercial real estate - non-owner occupied	—			0.1			—			—			0.3
Commercial real estate - owner occupied	0.1			—			0.1			—			—
Construction and land development	—			0.1			—			—			—
Residential real estate	—			—			0.1			—			0.4
Consumer	—			—			—			—			—
Total recoveries	0.4			4.0			1.0			2.4			2.5
Loans charged-off:
Commercial and industrial	1.1			2.1			2.4			2.6			3.8
Commercial real estate - non-owner occupied	—			—			—			—			—
Commercial real estate - owner occupied	0.5			—			—			—			—
Construction and land development	0.6			—			—			—			—
Residential real estate	—			—			—			—			0.1
Consumer	—			—			—			—			—
Total loans charged-off	2.2			2.1			2.4			2.6			3.9
Net loan charge-offs (recoveries)	1.8			(1.9)			1.4			0.2			1.4
Balance, end of period	$	309.7		$	304.1		$	273.2		$	257.6		$	252.5
Allowance for unfunded loan commitments
Balance, beginning of period	$	52.1		$	53.8		$	43.3		$	37.6		$	32.1
(Recovery of) provision for credit losses (1)	(5.1)			(1.7)			10.5			5.7			5.5
Balance, end of period (2)	$	47.0		$	52.1		$	53.8		$	43.3		$	37.6
Components of the allowance for credit losses on loans
Allowance for loan losses	$	309.7		$	304.1		$	273.2		$	257.6		$	252.5
Allowance for unfunded loan commitments	47.0			52.1			53.8			43.3			37.6
Total allowance for credit losses on loans	$	356.7		$	356.2		$	327.0		$	300.9		$	290.1
Net charge-offs (recoveries) to average loans - annualized	0.01		%	(0.02)		%	0.01		%	0.00		%	0.02		%
Allowance ratios
Allowance for loan losses to funded HFI loans (3)	0.60		%	0.58		%	0.56		%	0.63		%	0.65		%
Allowance for credit losses to funded HFI loans (3)	0.69			0.68			0.67			0.73			0.74
Allowance for loan losses to nonaccrual HFI loans	364			338			321			283			346
Allowance for credit losses to nonaccrual HFI loans	420			396			385			331			397

(1)    The above tables reflect the provision for credit losses on funded and unfunded loans. There was a $0.8 million provision for credit losses on investment securities for the three months ended December 31, 2022. The allowance for credit losses on investment securities totaled $5.2 million as of December 31, 2022.

(2)    The allowance for unfunded loan commitments is included as part of accrued interest payable and other liabilities on the balance sheet.

(3)    Ratio includes an allowance for credit losses of $21.9 million as of December 31, 2022 related to a $12.0 billion pool of loans covered under five separate credit linked note transactions.

12

Western Alliance Bancorporation and Subsidiaries
Asset Quality Metrics
Unaudited
	Three Months Ended
	Dec 31, 2022			Sep 30, 2022			Jun 30, 2022			Mar 31, 2022			Dec 31, 2021
	(in millions)
Nonaccrual loans and repossessed assets
Nonaccrual loans	$	85		$	90		$	85		$	91		$	73
Nonaccrual loans to funded HFI loans	0.16		%	0.17		%	0.17		%	0.22		%	0.19		%
Repossessed assets	$	11		$	11		$	12		$	12		$	12
Nonaccrual loans and repossessed assets to total assets	0.14		%	0.15		%	0.15		%	0.17		%	0.15		%
Loans Past Due
Loans past due 90 days, still accruing (1)	$	—		$	—		$	—		$	—		$	—
Loans past due 90 days, still accruing to funded HFI loans	—		%	—		%	—		%	—		%	—		%
Loans past due 30 to 89 days, still accruing (2)	$	70		$	56		$	117		$	58		$	53
Loans past due 30 to 89 days, still accruing to funded HFI loans	0.13		%	0.11		%	0.24		%	0.14		%	0.13		%
Other credit quality metrics
Special mention loans	$	351		$	312		$	317		$	350		$	331
Special mention loans to funded HFI loans	0.68		%	0.60		%	0.65		%	0.85		%	0.85		%
Classified loans on accrual	$	280		$	268		$	232		$	253		$	216
Classified loans on accrual to funded HFI loans	0.54		%	0.51		%	0.48		%	0.61		%	0.55		%
Classified assets	$	393		$	385		$	346		$	365		$	301
Classified assets to total assets	0.58		%	0.56		%	0.52		%	0.60		%	0.54		%

(1)    Excludes government guaranteed residential mortgage loans of $582 million, $644 million, and $827 millionas of December 31, 2022, September 30, 2022, and June 30, 2022, respectively.

(2)    Excludes government guaranteed residential mortgage loans of $334 million, $245 million, and $202 millionas of December 31, 2022, September 30, 2022, and June 30, 2022, respectively.

13

Western Alliance Bancorporation and Subsidiaries
Analysis of Average Balances, Yields and Rates
Unaudited
	Three Months Ended
	December 31, 2022						September 30, 2022
	Average Balance		Interest		Average Yield / Cost		Average Balance		Interest		Average Yield / Cost
	($ in millions)						($ in millions)
Interest earning assets
Loans held for sale	$	2,659	$	37.8	5.63	%	$	3,993	$	49.0	4.87	%
Loans held for investment:
Commercial and industrial	21,654		349.3		6.45		21,551		282.1		5.25
CRE - non-owner occupied	9,077		148.8		6.51		8,128		111.4		5.44
CRE - owner occupied	1,830		24.4		5.39		1,839		23.3		5.12
Construction and land development	3,798		80.2		8.38		3,471		59.5		6.80
Residential real estate	15,803		143.5		3.60		15,125		130.9		3.43
Consumer	71		1.1		6.26		63		0.8		5.32
Total HFI loans (1), (2), (3)	52,233		747.3		5.70		50,177		608.0		4.84
Securities:
Securities - taxable	6,397		68.4		4.25		6,680		56.4		3.35
Securities - tax-exempt	2,068		21.0		5.07		2,047		19.5		4.73
Total securities (1)	8,465		89.4		4.45		8,727		75.9		3.66
Cash and other	1,361		13.8		4.02		1,239		6.5		2.07
Total interest earning assets	64,718		888.3		5.50		64,136		739.4		4.62
Non-interest earning assets
Cash and due from banks	289						242
Allowance for credit losses	(308)						(282)
Bank owned life insurance	181						180
Other assets	4,613						4,100
Total assets	$	69,493					$	68,376
Interest-bearing liabilities
Interest-bearing deposits:
Interest-bearing transaction accounts	$	8,754	$	43.6	1.98	%	$	8,466	$	24.5	1.15	%
Savings and money market	18,651		88.0		1.87		18,515		44.5		0.95
Certificates of deposit	4,260		26.0		2.42		2,843		8.6		1.19
Total interest-bearing deposits	31,665		157.6		1.97		29,824		77.6		1.03
Short-term borrowings	5,440		54.8		3.99		4,136		27.0		2.59
Long-term debt	1,240		27.1		8.68		1,228		23.8		7.69
Qualifying debt	890		9.1		4.08		891		8.9		3.94
Total interest-bearing liabilities	39,235		248.6		2.51		36,079		137.3		1.51
Interest cost of funding earning assets					1.52						0.84
Non-interest-bearing liabilities
Non-interest-bearing demand deposits	23,729						25,865
Other liabilities	1,296						1,282
Stockholders’ equity	5,233						5,150
Total liabilities and stockholders' equity	$	69,493					$	68,376
Net interest income and margin (4)			$	639.7	3.98	%			$	602.1	3.78	%

(1)     Yields on loans and securities have been adjusted to a tax equivalent basis. The tax equivalent adjustment was $9.0 million and $8.5 million for the three months ended December 31, 2022 and September 30, 2022, respectively.

(2)    Included in the yield computation are net loan fees of $34.8 million and $31.9 million for the three months ended December 31, 2022 and September 30, 2022, respectively.

(3)    Includes non-accrual loans.

(4)    Net interest margin is computed by dividing net interest income by total average earning assets, annualized on an actual/actual basis.

14

Western Alliance Bancorporation and Subsidiaries
Analysis of Average Balances, Yields and Rates
Unaudited
	Three Months Ended
	December 31, 2022						December 31, 2021
	Average Balance		Interest		Average Yield / Cost		Average Balance		Interest		Average Yield / Cost
	($ in millions)						($ in millions)
Interest earning assets
Loans held for sale	$	2,659	$	37.8	5.63	%	$	9,159	$	70.3	3.04	%
Loans held for investment:
Commercial and industrial	21,654		349.3		6.45		17,087		169.5		4.01
CRE - non-owner-occupied	9,077		148.8		6.51		6,209		70.0		4.48
CRE - owner-occupied	1,830		24.4		5.39		1,971		24.2		4.96
Construction and land development	3,798		80.2		8.38		3,016		43.9		5.78
Residential real estate	15,803		143.5		3.60		8,282		60.3		2.89
Consumer	71		1.1		6.26		44		0.4		3.85
Total HFI loans (1), (2), (3)	52,233		747.3		5.70		36,609		368.3		4.03
Securities:
Securities - taxable	6,397		68.4		4.25		5,443		25.6		1.86
Securities - tax-exempt	2,068		21.0		5.07		2,175		18.1		4.12
Total securities (1)	8,465		89.4		4.45		7,618		43.7		2.51
Other	1,361		13.8		4.02		1,274		1.0		0.31
Total interest earning assets	64,718		888.3		5.50		54,660		483.3		3.57
Non-interest earning assets
Cash and due from banks	289						253
Allowance for credit losses	(308)						(256)
Bank owned life insurance	181						179
Other assets	4,613						2,767
Total assets	$	69,493					$	57,603
Interest-bearing liabilities
Interest-bearing deposits:
Interest-bearing transaction accounts	$	8,754	$	43.6	1.98	%	$	5,918	$	1.7	0.11	%
Savings and money market accounts	18,651		88.0		1.87		17,215		9.1		0.21
Certificates of deposit	4,260		26.0		2.42		2,074		2.0		0.38
Total interest-bearing deposits	31,665		157.6		1.97		25,207		12.8		0.20
Short-term borrowings	5,440		54.8		3.99		2,815		2.4		0.35
Long-term debt	1,240		27.1		8.68		565		8.3		5.81
Qualifying debt	890		9.1		4.08		978		9.2		3.72
Total interest-bearing liabilities	39,235		248.6		2.51		29,565		32.7		0.44
Interest cost of funding earning assets					1.52						0.24
Non-interest-bearing liabilities
Non-interest-bearing demand deposits	23,729						22,487
Other liabilities	1,296						913
Stockholders’ equity	5,233						4,638
Total liabilities and stockholders' equity	$	69,493					$	57,603
Net interest income and margin (4)			$	639.7	3.98	%			$	450.6	3.33	%

(1)    Yields on loans and securities have been adjusted to a tax equivalent basis. The tax equivalent adjustment was $9.0 million and $8.4 million for the three months ended December 31, 2022 and 2021, respectively.

(2)    Included in the yield computation are net loan fees of $34.8 million and $35.8 million for the three months ended December 31, 2022 and 2021, respectively.

(3)    Includes non-accrual loans.

(4)    Net interest margin is computed by dividing net interest income by total average earning assets, annualized on an actual/actual basis.

15

Western Alliance Bancorporation and Subsidiaries
Analysis of Average Balances, Yields and Rates
Unaudited
	Year Ended
	December 31, 2022						December 31, 2021
	Average Balance		Interest		Average Yield / Cost		Average Balance		Interest		Average Yield / Cost
	($ in millions)						($ in millions)
Interest earning assets
Loans held for sale	$	4,364	$	180.3	4.13	%	$	5,476	$	174.4	3.18	%
Loans held for investment:
Commercial and industrial	20,082		1,002.8		5.05		14,979		624.8		4.26
CRE - non-owner occupied	7,769		416.4		5.37		5,829		271.3		4.67
CRE - owner occupied	1,841		93.2		5.16		2,030		97.7		4.92
Construction and land development	3,426		229.1		6.69		2,790		160.0		5.74
Residential real estate	13,771		468.5		3.40		5,129		158.9		3.10
Consumer	61		3.1		5.07		39		1.7		4.43
Total HFI loans (1), (2), (3)	46,951		2,213.1		4.74		30,796		1,314.4		4.32
Securities:
Securities - taxable	6,324		195.3		3.09		5,284		95.8		1.81
Securities - tax-exempt	2,067		77.3		4.68		2,137		68.9		4.05
Total securities (1)	8,391		272.6		3.48		7,421		164.7		2.46
Other	1,574		25.8		1.64		2,718		5.2		0.19
Total interest earning assets	61,281		2,691.8		4.45		46,411		1,658.7		3.65
Non-interest earning assets
Cash and due from banks	260						293
Allowance for credit losses	(280)						(261)
Bank owned life insurance	180						178
Other assets	3,948						2,487
Total assets	$	65,389					$	49,108
Interest-bearing liabilities
Interest-bearing deposits:
Interest-bearing transaction accounts	$	8,331	$	78.8	0.95	%	$	4,751	$	5.9	0.13	%
Savings and money market accounts	18,518		158.6		0.86		15,814		33.1		0.21
Certificates of deposit	2,772		39.0		1.40		1,850		8.5		0.46
Total interest-bearing deposits	29,621		276.4		0.93		22,415		47.5		0.21
Short-term borrowings	3,424		92.1		2.69		1,206		8.2		0.68
Long-term debt	1,008		72.0		7.14		373		21.1		5.65
Qualifying debt	893		35.0		3.92		827		33.1		4.00
Total interest-bearing liabilities	34,946		475.5		1.36		24,821		109.9		0.44
Interest cost of funding earning assets					0.78						0.24
Non-interest-bearing liabilities
Non-interest-bearing demand deposits	24,133						19,416
Other liabilities	1,211						837
Stockholders’ equity	5,099						4,034
Total liabilities and stockholders' equity	$	65,389					$	49,108
Net interest income and margin (4)			$	2,216.3	3.67	%			$	1,548.8	3.41	%

(1)    Yields on loans and securities have been adjusted to a tax equivalent basis. The tax equivalent adjustment was $33.7 million and $33.3 million for the year ended December 31, 2022 and 2021, respectively.

(2)    Included in the yield computation are net loan fees of $132.2 million and $131.7 million for the year ended December 31, 2022 and 2021, respectively.

(3)    Includes non-accrual loans.

(4)    Net interest margin is computed by dividing net interest income by total average earning assets, annualized on an actual/actual basis.

16

Western Alliance Bancorporation and Subsidiaries
Operating Segment Results
Unaudited
Balance Sheet:
	Consolidated Company		Commercial		Consumer Related		Corporate & Other
At December 31, 2022:	(dollars in millions)
Assets:
Cash, cash equivalents, and investment securities	$	9,803	$	12	$	—	$	9,791
Loans held for sale	1,184		—		1,184		—
Loans, net of deferred fees and costs	51,862		31,414		20,448		—
Less: allowance for credit losses	(310)		(262)		(48)		—
Total loans	51,552		31,152		20,400		—
Other assets acquired through foreclosure, net	11		11		—		—
Goodwill and other intangible assets, net	680		293		387		—
Other assets	4,504		435		2,180		1,889
Total assets	$	67,734	$	31,903	$	24,151	$	11,680
Liabilities:
Deposits	$	53,644	$	29,494	$	18,492	$	5,658
Borrowings and qualifying debt	7,192		27		340		6,825
Other liabilities	1,542		83		656		803
Total liabilities	62,378		29,604		19,488		13,286
Allocated equity:	5,356		2,684		1,691		981
Total liabilities and stockholders' equity	$	67,734	$	32,288	$	21,179	$	14,267
Excess funds provided (used)	—		385		(2,972)		2,587
No. of offices	56		46		8		2
No. of full-time equivalent employees	3,365		671		785		1,909
Income Statement:
Three Months Ended December 31, 2022:	(in millions)
Net interest income	$	639.7	$	428.0	$	216.4	$	(4.7)
Provision for (recovery of) credit losses	3.1		(5.9)		8.2		0.8
Net interest income (expense) after provision for credit losses	636.6		433.9		208.2		(5.5)
Non-interest income	61.5		8.7		49.2		3.6
Non-interest expense	333.4		122.1		187.6		23.7
Income (loss) before income taxes	364.7		320.5		69.8		(25.6)
Income tax expense (benefit)	71.7		76.1		16.3		(20.7)
Net income (loss)	$	293.0	$	244.4	$	53.5	$	(4.9)
Year Ended December 31, 2022:	(in millions)
Net interest income	$	2,216.3	$	1,546.3	$	854.1	$	(184.1)
Provision for (recovery of) credit losses	68.1		47.2		21.1		(0.2)
Net interest income (expense) after provision for credit losses	2,148.2		1,499.1		833.0		(183.9)
Non-interest income	324.6		59.7		247.2		17.7
Non-interest expense	1,156.7		463.5		630.1		63.1
Income (loss) before income taxes	1,316.1		1,095.3		450.1		(229.3)
Income tax expense (benefit)	258.8		260.5		107.1		(108.8)
Net income (loss)	$	1,057.3	$	834.8	$	343.0	$	(120.5)

17

Western Alliance Bancorporation and Subsidiaries
Operating Segment Results
Unaudited
Balance Sheet:
	Consolidated Company		Commercial		Consumer Related		Corporate
At December 31, 2021:	(dollars in millions)
Assets:
Cash, cash equivalents, and investment securities	$	8,057	$	13	$	82	$	7,962
Loans held for sale	5,635		—		5,635		—
Loans, net of deferred fees and costs	39,075		25,092		13,983		—
Less: allowance for credit losses	(252)		(226)		(26)		—
Total loans	38,823		24,866		13,957		—
Other assets acquired through foreclosure, net	12		12		—		—
Goodwill and other intangible assets, net	635		295		340		—
Other assets	2,821		254		1,278		1,289
Total assets	$	55,983	$	25,440	$	21,292	$	9,251
Liabilities:
Deposits	$	47,612	$	30,467	$	15,363	$	1,782
Borrowings and qualifying debt	2,398		—		353		2,045
Other liabilities	1,010		233		138		639
Total liabilities	51,020		30,700		15,854		4,466
Allocated equity:	4,963		2,588		1,596		779
Total liabilities and stockholders' equity	$	55,983	$	33,288	$	17,450	$	5,245
Excess funds provided (used)	—		7,848		(3,842)		(4,006)
No. of offices	58		50		7		1
No. of full-time equivalent employees	3,139		628		1,173		1,338
Income Statement:
Three Months Ended December 31, 2021:	(in millions)
Net interest income	$	450.6	$	332.8	$	185.6	$	(67.8)
Provision for (recovery of) credit losses	13.2		4.9		7.6		0.7
Net interest income (expense) after provision for credit losses	437.4		327.9		178.0		(68.5)
Non-interest income	110.4		16.9		76.5		17.0
Non-interest expense	237.8		106.5		119.5		11.8
Income (loss) before income taxes	310.0		238.3		135.0		(63.3)
Income tax expense (benefit)	64.0		56.9		32.6		(25.5)
Net income (loss)	$	246.0	$	181.4	$	102.4	$	(37.8)
Year Ended December 31, 2021:	(in millions)
Net interest income	$	1,548.8	$	1,181.7	$	603.4	$	(236.3)
(Recovery of) provision for credit losses	(21.4)		(30.6)		11.0		(1.8)
Net interest income (expense) after provision for credit losses	1,570.2		1,212.3		592.4		(234.5)
Non-interest income	404.2		65.1		317.6		21.5
Non-interest expense	851.4		415.9		413.9		21.6
Income (loss) before income taxes	1,123.0		861.5		496.1		(234.6)
Income tax expense (benefit)	223.8		206.6		120.1		(102.9)
Net income (loss)	$	899.2	$	654.9	$	376.0	$	(131.7)

18

Western Alliance Bancorporation and Subsidiaries

Reconciliation of Non-GAAP Financial Measures

Unaudited

Pre-Provision Net Revenue by Quarter:
	Three Months Ended
	12/31/2022		9/30/2022		6/30/2022		3/31/2022		12/31/2021
	(in millions)
Net interest income	$	639.7	$	602.1	$	525.0	$	449.5	$	450.6
Total non-interest income	61.5		61.8		95.0		106.3		110.4
Net revenue	$	701.2	$	663.9	$	620.0	$	555.8	$	561.0
Total non-interest expense	333.4		305.8		268.9		248.6		237.8
Pre-provision net revenue (1)	$	367.8	$	358.1	$	351.1	$	307.2	$	323.2
Less:
Provision for credit losses	3.1		28.5		27.5		9.0		13.2
Income tax expense	71.7		65.6		63.4		58.1		64.0
Net income	$	293.0	$	264.0	$	260.2	$	240.1	$	246.0

Efficiency Ratio by Quarter:
Total non-interest expense	$	333.4		$	305.8		$	268.9		$	248.6		$	237.8
Divided by:
Total net interest income	639.7			602.1			525.0			449.5			450.6
Plus:
Tax equivalent interest adjustment	9.0			8.5			8.2			8.0			8.4
Total non-interest income	61.5			61.8			95.0			106.3			110.4
	$	710.2		$	672.4		$	628.2		$	563.8		$	569.4
Efficiency ratio - tax equivalent basis (2)	46.9		%	45.5		%	42.8		%	44.1		%	41.8		%

Tangible Common Equity:
	12/31/2022			9/30/2022			6/30/2022			3/31/2022			12/31/2021
	(dollars and shares in millions)
Total stockholders' equity	$	5,356		$	5,021		$	4,959		$	5,012		$	4,963
Less:
Goodwill and intangible assets	680			682			695			698			635
Preferred stock	295			295			295			295			295
Total tangible common equity	4,381			4,044			3,969			4,019			4,033
Plus: deferred tax - attributed to intangible assets	2			3			2			2			2
Total tangible common equity, net of tax	$	4,383		$	4,047		$	3,971		$	4,021		$	4,035
Total assets	$	67,734		$	69,165		$	66,055		$	60,576		$	55,983
Less: goodwill and intangible assets, net	680			682			695			698			635
Tangible assets	67,054			68,483			65,360			59,878			55,348
Plus: deferred tax - attributed to intangible assets	2			3			2			2			2
Total tangible assets, net of tax	$	67,056		$	68,486		$	65,362		$	59,880		$	55,350
Tangible common equity ratio (3)	6.5		%	5.9		%	6.1		%	6.7		%	7.3		%
Common shares outstanding	108.9			108.9			108.3			108.3			106.6
Tangible book value per share, net of tax (3)	$	40.25		$	37.16		$	36.67		$	37.13		$	37.84

19

Western Alliance Bancorporation and Subsidiaries

Reconciliation of Non-GAAP Financial Measures

Unaudited

Return on Average Tangible Common Equity:
	Three Months Ended
	12/31/2022			9/30/2022			6/30/2022			3/31/2022			12/31/2021
	(in millions)
Net income available to common shareholders	$	289.8		$	260.8		$	257.0		$	236.9		$	242.5
Divided by:
Average stockholders' equity	5,232.6			5,149.6			5,021.4			4,988.9			4,637.6
Less:
Average goodwill and intangible assets	(681.3)			(694.1)			(697.3)			(679.3)			(610.4)
Average preferred stock	(294.5)			(294.5)			(294.5)			(294.5)			(294.5)
Average tangible common equity	$	4,256.8		$	4,161.1		$	4,029.6		$	4,015.1		$	3,732.7
Average accumulated other comprehensive loss (income) ("AOCI")	725.7			483.5			355.7			56.7			(34.4)
Average tangible common equity, excluding AOCI	$	4,982.5		$	4,644.6		$	4,385.4		$	4,071.8		$	3,698.3
Return on average tangible common equity (1)	27.0		%	24.9		%	25.6		%	23.9		%	25.8		%
Return on average tangible common equity, excluding AOCI (1)	23.1		%	22.3		%	23.5		%	23.6		%	26.0		%

	Year Ended December 31,
	2022			2021
	(in millions)
Net income available to common shareholders	$	1,044.5		$	895.7
Divided by:
Average stockholders' equity	5,099.0			4,033.8
Less:
Average goodwill and intangible assets	(688.0)			(528.6)
Average preferred stock	(294.5)			(81.5)
Average tangible common equity	$	4,116.4		$	3,423.7
Average accumulated other comprehensive loss (income) ("AOCI")	407.5			(56.9)
Average tangible common equity, excluding AOCI	$	4,523.9		$	3,366.7
Return on average tangible common equity (1)	25.4		%	26.2		%
Return on average tangible common equity, excluding AOCI (1)	23.1		%	26.6		%

Non-GAAP Financial Measures Footnotes
(1)	We believe this non-GAAP measurement is a key indicator of the earnings power of the Company.
(2)	We believe this non-GAAP ratio provides a useful metric to measure the efficiency of the Company.
(3)	We believe this non-GAAP metric provides an important metric with which to analyze and evaluate financial condition and capital strength. In addition, we believe that use of tangible equity and tangible assets improves the comparability to other institutions that have not engaged in acquisitions that resulted in recorded goodwill and other intangibles.

CONTACT:

Western Alliance Bancorporation

Dale Gibbons, 602-952-5476

20

EX-99.2

EARNINGS CALL 4th Quarter 2022 JANUARY 25, 2023

Forward-Looking Statements This presentation contains forward-looking statements that relate to expectations, beliefs, projections, future plans and strategies, anticipated events or trends and similar expressions concerning matters that are not historical facts. Examples of forward-looking statements include, among others, statements we make regarding our expectations with regard to our business, financial and operating results, future economic performance and dividends. The forward-looking statements contained herein reflect our current views about future events and financial performance and are subject to risks, uncertainties, assumptions and changes in circumstances that may cause our actual results to differ significantly from historical results and those expressed in any forward-looking statement. Some factors that could cause actual results to differ materially from historical or expected results include, among others: the risk factors discussed in the Company’s Annual Report on Form 10-K for the year ended December 31, 2021 and the Company’s subsequent Quarterly Reports on Form 10-Q, each as filed with the Securities and Exchange Commission; the potential adverse effects of unusual and infrequently occurring events such as the COVID-19 pandemic and any governmental or societal responses thereto; changes in general economic conditions, either nationally or locally in the areas in which we conduct or will conduct our business; the impact on financial markets from geopolitical conflicts such as the war between Russia and Ukraine; inflation, interest rate, market and monetary fluctuations; increases in competitive pressures among financial institutions and businesses offering similar products and services; higher defaults on our loan portfolio than we expect; changes in management’s estimate of the adequacy of the allowance for credit losses; legislative or regulatory changes or changes in accounting principles, policies or guidelines; supervisory actions by regulatory agencies which may limit our ability to pursue certain growth opportunities, including expansion through acquisitions; additional regulatory requirements resulting from our continued growth; management’s estimates and projections of interest rates and interest rate policy; the execution of our business plan; and other factors affecting the financial services industry generally or the banking industry in particular. Any forward-looking statement made by us in this presentation is based only on information currently available to us and speaks only as of the date on which it is made. We do not intend and disclaim any duty or obligation to update or revise any industry information or forward-looking statements, whether written or oral, that may be made from time to time, set forth in this press release to reflect new information, future events or otherwise. Non-GAAP Financial Measures This presentation contains both financial measures based on GAAP and non-GAAP based financial measures, which are used where management believes them to be helpful in understanding the Company’s results of operations or financial position. Where non-GAAP financial measures are used, the comparable GAAP financial measure, as well as the reconciliation to the comparable GAAP financial measure, can be found in the Company’s press release as of and for the quarter ended December 31, 2022. These disclosures should not be viewed as a substitute for operating results determined in accordance with GAAP, nor are they necessarily comparable to non-GAAP performance measures that may be presented by other companies. 2

4th Quarter 2022 | Financial Highlights Earnings & Profitability Q4-22 Q3-22 Q4-21 Earnings per Share $2.67 $2.42 $2.32 Net Income $293.0 $264.0 $246.0 Net Revenue $701.2 $663.9 $561.0 Pre Provision Net Revenue1 $367.8 $358.1 $323.2 Net Interest Margin 3.98% 3.78% 3.33% Efficiency Ratio1 46.9% 45.5% 41.8% ROAA 1.67% 1.53% 1.69% ROTCE1 27.0% 24.9% 25.8% Balance Sheet & Capital Total Loans $51,862 $52,201 $39,075 Total Deposits $53,644 $55,589 $47,612 CET1 Ratio 9.3% 8.7% 9.1% TCE Ratio1 6.5% 5.9% 7.3% Tangible Book Value per Share1 $40.25 $37.16 $37.84 Asset Quality Provision for Credit losses $3.1 $28.5 $13.2 Net Charge-Offs (Recoveries) $1.8 $(1.9) $1.4 Net Charge-Offs (Recoveries) /Avg. Loans 0.01% (0.02)% 0.02% Total Loan ACL/Funded HFI Loans3 0.69% 0.68% 0.74% NPAs2/Total Assets 0.14% 0.15% 0.15% Net Income $293.0 million EPS $2.67 PPNR1 Q4: $367.8 million 14% YoY ROTCE / (ex. AOCI)1 27.0% / 23.1% Loan Growth Q4: $(0.3) billion 28% YoY4 Deposit Growth Q4: $(1.9) billion 13% YoY Tangible Book Value PER SHARE1 $40.25 6% YoY NPAs2/ Total Assets 0.14% 3 Dollars in millions, except EPS 1) Refer to slide 2 for further discussion of Non-GAAP financial measures. 2) Nonperforming assets includes nonaccrual loans and repossessed assets. 3) Ratio includes an allowance for credit losses of $21.9 million as of December 31, 2022 related to a $12.0 billion pool of loans covered under 5 separate credit linked notes. 4) YoY loan growth excludes Early Buyout loans that were transferred from HFS to HFI during 2022, with a balance of $1.9 billion at December 31, 2022. Highlights

Annual Consolidated Financial Results 4 1 2 4 Dollars in millions, except EPS 2022 Highlights 1) Refer to slide 2 for further discussion of Non-GAAP financial measures. 2) Gain on Sale margin represents spread as of the interest rate lock commitment date. 5 2022 2021 Interest Income $2,691.8 $1,658.7 Interest Expense (475.5) (109.9) Net Interest Income $2,216.3) $1,548.8 Mortgage Banking Related Income 234.9) $309.9 Other 89.7) 94.3 Non-Interest Income $324.6) $404.2 Net Revenue $2,540.9) $1,953.0 Salaries and Employee Benefits (539.5) (466.7) Deposit Costs (165.8) (29.8) Other (451.4) (354.9) Non-Interest Expense $ (1,156.7) $ (851.4) Pre-Provision Net Revenue1 $1,384.2) $1,101.6) (Provision for) Recovery of Credit Losses (68.1) 21.4) Pre-Tax Income $1,316.1) $1,123.0) Income Tax (258.8) (223.8) Net Income $1,057.3) $899.2) Dividends on Preferred Stock (12.8) (3.5) Net Income Available to Common Stockholders $1,044.5) $895.7) Diluted Shares 107.6) 103.3) Earnings Per Share $9.70) $8.67) 1 4 5 2 3 3 Net Interest Income increased $667.5 million, primarily from interest income on loan growth and higher loan yields • Partially offset by increased interest expense from deposits, short-term borrowings, and Credit Linked Note issuances during the year Non-Interest Income decrease driven by Mortgage Banking Related Income • $47.2 billion loan production in 2022 (76% purchase / 24% refinance), down 18% compared to 2021 • Gain on Sale margin of 17 bps in 2022, compared to 41 bps in 2021 Salaries and Employee Benefits increased $72.8 million, due to increased headcount and full year compensation costs for AMH employees Provision for Credit Losses of $68.1 million, primarily due to continued economic uncertainty and loan growth during the year Income Tax of $258.8 million, due to growth in taxable income

Quarterly Income Statement Net Interest Income increased $37.6 million, primarily from expanding NIM Non-Interest Income decreased $0.3 million, driven by the following: • $9.2 million MTM loss, primarily on loan transfers to HFS that were subsequently sold Mortgage Banking Metrics • $8.3 billion mortgage loan production in Q4 (88% purchase / 12% refinance), down 29% compared to Q3 and 55% to Q4 2021 • $8.0 billion interest rate lock commitment volume in Q4, down 27% compared to Q3 and 55% to Q4 2021 • Gain on Sale margin2 of 19 bps in Q4, compared to 17 bps in Q3 • $70.8 billion in servicing portfolio UPB Salaries and benefits decreased $10.8 million, primarily related to severance and other non-recurring compensation expenses in Q3-2022 and lower incentive compensation during the quarter Deposit costs increased $26.0 million, primarily related to higher earnings credits rates Provision for Credit Losses of $3.1 million, primarily due to continued economic uncertainty, partially offset by a decline in loan balances due to risk-weighted asset optimization 5 1 2 4 Dollars in millions, except EPS Q4 2022 Highlights 1) Refer to slide 2 for further discussion of Non-GAAP financial measures. 2) Gain on Sale margin represents spread as of the interest rate lock commitment date. 5 Q4-22 Q3-22 Q4-21 Interest Income $888.3 $739.4 $483.3 Interest Expense (248.6) (137.3) (32.7) Net Interest Income $639.7) $602.1) $450.6 Mortgage Banking Related Income 46.8) 37.5) $75.5 Other 14.7) 24.3) 34.9 Non-Interest Income $61.5) $61.8) $110.4 Net Revenue $701.2) $663.9) $561.0 Salaries and Employee Benefits (125.7) (136.5) (120.6) Deposit Costs (82.2) (56.2) (9.1) Other (125.5) (113.1) (108.1) Non-Interest Expense $(333.4) $(305.8) $(237.8) Pre-Provision Net Revenue1 $367.8) $358.1) $323.2) (Provision for) Credit Losses (3.1) (28.5) (13.2)) Pre-Tax Income $364.7) $329.6) $310.0) Income Tax (71.7) (65.6) (64.0) Net Income $293.0) $264.0) $246.0) Dividends on Preferred Stock (3.2) (3.2) (3.5) Net Income Available to Common Stockholders $289.8) $260.8) $242.5) Diluted Shares 108.4) 107.9) 104.5) Earnings Per Share $2.67) $2.42) $2.32) 1 4 5 2 3 3

Total Investments and Yield Interest Bearing Deposits and Cost Loans and HFI Yield Deposits, Borrowings & Cost of Liability Funding Net Interest Drivers 6 • Loan yields increased 86 bps due to a higher rate environment • Yield on Loans Held for Sale of 5.63% increased from 4.87% in Q3 • Investment yields increased 79 bps, primarily related to floating-rate securities • Cost of interest-bearing deposits increased 94 bps, and total cost of funds increased 69 bps to 1.57% due to higher costs on deposits and borrowings $26.3 $28.6 $30.0 $30.7 $33.9 $21.3 $23.5 $23.7 $24.9 $19.7 $2.4 $1.7 $6.1 $7.2 $7.2 0.25% 0.27% 0.38% 0.88% 1.57% Q4-21 Q1-22 Q2-22 Q3-22 Q4-22 $26.3 $28.6 $30.0 $30.7 $33.9 0.20% 0.21% 0.37% 1.03% 1.97% Q4-21 Q1-22 Q2-22 Q3-22 Q4-22 $7.5 $8.3 $8.8 $8.6 $8.8 2.51% 2.77% 2.94% 3.66% 4.45% Q4-21 Q1-22 Q2-22 Q3-22 Q4-22 Non-Interest Bearing Deposits Total Borrowings Q4 2022 Highlights $39.1 $41.1 $48.6 $52.2 $51.9 $1.2 4.03% 3.98% 4.19% 4.84% 5.70% Q4-21 Q1-22 Q2-22 Q3-22 Q4-22 Loans Loans, HFS $5.6 $4.8 Interest Bearing DepositsInterest Bearing Deposits Dollars in billions, unless otherwise indicated Total Investments $2.8 $2.2 Spot Rate 4.56% Spot Rate 6.26% Spot Rate 2.21% Spot Rate 1.88%

$36.6 $39.6 $45.7 $50.2 $52.2 $9.2 $6.5 $4.3 $4.0 $2.7 $7.6 $7.7 $8.7 $8.7 $8.5 $1.3 $2.0 $1.6 $1.2 $1.3 3.57% 3.58% 3.91% 4.62% 5.50% $54.7 $55.8 $60.3 $64.1 $64.7 Q4-21 Q1-22 Q2-22 Q3-22 Q4-22 $450.6 $449.5 $525.0 $602.1 $639.7 3.33% 3.32% 3.54% 3.78% 3.98% Q4-21 Q1-22 Q2-22 Q3-22 Q4-22 Net Interest Income 7 • Net Interest Income increased $37.6 million, or 6.2%, over prior quarter primarily due to the increasing rate environment • Average Earning Assets grew $582 million, or 0.9%, over prior quarter • NIM increased 20 bps, driven by higher yields on interest earning assets Net Interest Income and Net Interest Margin Average Earning Assets & Average Yield Net Interest Income Net Interest Margin Q4 2022 Highlights Dollars in millions Dollars in billions Cash & Other Securities Loans Held for Sale Loans Average Yield 14% 2%2% 13% 4% 81% 14% 6% 78% 17% 67% 2%

Net Interest Income Sensitivity 8 • WAL expects a 3.1% increase in NII under a +100 bps rate shock on a static balance sheet • 52% of loans (ex-HFS) are contractually variable ($27.1 billion) • 73% of variable rate loans have rate floors • Moderate NII sensitivity, driven primarily by balance sheet movement rather than changes in the rate environment NII Sensitivity – Shock Scenario, -100 bps NII Sensitivity – Shock Scenario, +100 bps 3.1% >20% 12 months Static Balance Sheet Growth Balance Sheet -3.0% >10% 12 months Static Balance Sheet Growth Balance Sheet 1 1 1) For illustrative purposes only and not intended as guidance. Q4 2022 Highlights

Expenses and Efficiency1 9 • Efficiency ratio1 increased 140 bps to 46.9% compared to the prior quarter and 510 bps from the same period last year • Higher efficiency ratio1 was driven primarily by an increase in deposit costs • Deposit costs increased $26.0 million from the prior quarter primarily related to higher earnings credit rates • Earnings Credit-related deposit balances of $12.9 billion (~62% associated with non-interest bearing accounts) • Efficiency ratio1 adjusted to reclassify deposit costs as interest expense was 40.0% in Q4, compared to 40.5% in Q3 Dollars in millions Q4 2022 Highlights 1) Refer to slide 2 for further discussion of Non-GAAP financial measures. $237.8 $248.6 $268.9 $305.8 $333.4 41.8% 44.1% 42.8% 45.5% 46.9% 40.4% 43.1% 41.1% 40.5% 40.0% Q4-21 Q1-22 Q2-22 Q3-22 Q4-22 Non-Interest Expenses and Efficiency Ratio Breakdown of Non-Interest Expenses Non-Interest Expenses Efficiency Ratio Other Operating Expenses Deposit Costs Salaries & Employee Benefits $108.1 $101.0 $111.8 $113.1 $125.5 $120.6 $138.3 $139.0 $136.5 $125.7 $9.1 $9.3 $18.1 $56.2 $82.2 $237.8 $248.6 $268.9 $305.8 $333.4 Q4-21 Q1-22 Q2-22 Q3-22 Q4-22 Adj. Efficiency Ratio

Pre-Provision Net Revenue1, ROTCE1, and ROA 10 • PPNR1 increased $9.7 million from the prior quarter and $44.6 million, or 13.8%, from the same period last year • ROTCE (ex-AOCI) 1 was 23.1% for the quarter, up from 22.3% during the prior quarter • ROA increased 14 bps from the prior quarter and decreased 2 bps from the same period last year PPNR, ROTCE & ROA Dollars in millions $323.2 $307.2 $351.1 $358.1 $367.8 $246.0 $240.1 $260.2 $264.0 $293.0 25.8% 23.9% 25.6% 24.9% 27.0% 1.69% 1.64% 1.62% 1.53% 1.67% Q4-21 Q1-22 Q2-22 Q3-22 Q4-22 PPNR Net Income ROTCE ROA Q4 2022 Highlights 1) Refer to slide 2 for further discussion of Non-GAAP financial measures.

Loans decreased $339 million, or 0.6%, and increased $10.9 billion, or 27.9%, over prior year2 Deposits decreased $1.9 billion, or 3.5%, and increased $6.0 billion, or 12.7%, over prior year • Average deposits declined by $295 million from Q3-22 • Quarter-to-date 2023 average total deposits $2.4 billion higher from year-end, or 14% greater than the same period last year Borrowings decreased $16 million over prior quarter primarily from a decrease in short term borrowings, offset by issuance of $95 million in Credit Linked Notes on residential loan portfolio Shareholders’ Equity increased $335 million as a function of net income and a reduction in unrealized losses on AFS securities recorded in AOCI, offset by dividends Tangible Book Value/Share1 increased $3.09, or 8.3%, over prior quarter and increased $2.41, or 6.4%, over prior year Consolidated Balance Sheet 11 1 2 3 Q4-22 Q3-22 Q4-21 Investments & Cash $9,803 $10,213 $8,057 Loans, HFS 1,184 2,204 5,635 Loans HFI, net 51,862 52,201 39,075 Allowance for Loan Losses (310) (304) (253) Mortgage Servicing Rights 1,148 1,044 698 Goodwill and Intangibles 680 682 635 Other Assets 3,367 3,125 2,136 Total Assets $67,734 $69,165 $55,983 Deposits $53,644 $55,589 $47,612 Borrowings 7,192 7,208 2,398 Other Liabilities 1,542 1,347 1,010 Total Liabilities $62,378 $64,144 $51,020 Shareholders’ Equity $5,356 $5,021 $4,963 Total Liabilities and Equity $67,734 $69,165 $55,983 Tangible Book Value Per Common Share1 $40.25 $37.16 $37.84 1 2 5 Q4 2022 Highlights 3 4 5 4 Dollars in millions, except per share data 1) Refer to slide 2 for further discussion of Non-GAAP financial measures. 2) YoY loan growth excludes EBO loans that were transferred from HFS to HFI during 2022, with a balance of $1.9 billion at December 31, 2022.

Five Quarter Loan Growth and Composition 12 $10.91 Billion Year-Over-Year Growth Quarter-over-quarter loan decline of $339 million driven by (in millions): CRE, Non-OO $651 Construction & Land 392 Residential & Consumer 256 Offset by decrease in: C&I (1,608) CRE, OO (30) Total $(339) Year-over-year loan growth of $10.91 billion driven by (in millions): Residential & Consumer $4,787 CRE, Non-OO 2,793 C&I 2,413 Construction & Land 990 Offset by decrease in: CRE, OO (80) Total $10,903 $18.3 $17.9 $20.8 $22.3 $20.7 $1.9 $1.8 $1.8 $1.8 $1.8 $6.5 $6.8 $7.8 $8.7 $9.4$3.0 $3.3 $3.2 $3.6 $4.0$9.3 $11.3 $15.0 $15.8 $16.0 Q4-21 Q1-22 Q2-22 Q3-22 Q4-22 Residential & Consumer Construction & Land CRE, Non-Owner Occupied CRE, Owner Occupied Commercial & Industrial Dollars in billions, unless otherwise indicated Total Loans, HFI $39.1 $41.1 $48.6 $52.2 $51.9 Qtr. Change +$4.3 +$2.0 +$5.5 2 +$3.6 -$(0.3) 23.9% 7.7% 16.7% 4.9% 46.8% 39.9% 3.5% 18.1% 7.7% 30.8%30.2% 6.9% 16.6% 3.5% 42.8% 1) Loan growth excludes EBO loans that were transferred from HFS to HFI during 2022, with a balance of $1.9 billion at December 31, 2022. 2) Loan growth excludes $1.9 billion of EBO loans that were transferred from HFS to HFI during Q2-2022 Q4 2022 Highlights

Loan Portfolio Optimization 13 Quarter-over-quarter loan decline of $339 million driven by (in millions): Residential $260 Regional Banking 696 National Business Lines (1,295) Warehouse Lending 36 Equity Fund Resources (1,390) Hotel Franchise Finance 315 Tech & Innovation 140 Corporate Finance (438) Other 42 Total ($339) Q4 2022 Highlights Municipal & Nonprofit 3% Tech & Innovation 4% Other C&I 14% CRE, Owner Occupied 3% CRE, Non- Owner Occupied 11% Hotel Franchise Finance 8% Warehouse Lending 11% Residential 31% Equity Fund Resources 7% C&D 8% • Risk-Weighted Asset optimization • Contributed to declines in Equity Fund Resources and Corporate Finance balances • 53% of loans in low-to-no-loss categories • ~68% of 3-year growth in low-to-no-loss categories • 27% of portfolio credit protected Borrower Type Focused on enhanced risk-adjusted portfolio returns and risk-weighted asset management, leading to improved capital efficiency $51.9 Bn 3-Year Sources of Loan Growth (Q1-20 – Q4-22) 28% Regional Banking 41% National Business Lines 31% Residential Q4-22 Summary Division Composition 45% Residential 11% EFR 12% Warehouse Lending 16% Other NBLs 16% Regional Banking

$21.4 $23.5 $23.7 $24.9 $19.7 $6.9 $8.3 $8.4 $8.4 $9.5 $17.3 $18.5 $19.0 $19.2 $19.4 $2.0 $1.8 $2.6 $3.1 $5.0 Q4-21 Q1-22 Q2-22 Q3-22 Q4-22 CDs Savings and MMDA Interest Bearing DDA Non-Interest Bearing DDA Five Quarter Deposit Growth and Composition 14 $6.0 Billion Year-Over-Year Growth Quarter-over-quarter deposit decline of $1.9 billion driven by (in millions): CDs $1,938 Interest Bearing DDA 1,157 Savings and MMDA 195 Offset by decrease in: Non-Interest Bearing DDA (5,235) Total $(1,945) Year-over-year deposit growth of $6.0 billion driven by (in millions): CDs $2,993 Interest Bearing DDA 2,583 Savings and MMDA 2,118 Offset by decrease in: Non-Interest Bearing DDA (1,662) Total $6,032 Dollars in billions, unless otherwise indicated Total Deposits $47.6 $52.1 $53.7 $55.6 $53.6 Qtr. Change +$2.3 +$4.5 +$1.6 +$1.9 -$(1.9) 4.3% 36.3% 14.5% 44.9% 36.8% 17.7% 36.2% 9.3% 5.6% 34.6% 15.0% 44.8% Q4 2022 Highlights

Diversified Deposit Franchise 15 Q4 2022 Highlights 39% 16% 14% 12% 6% 1% 12%Regions Mtg WH Tech & Innov. HOA Sttlmt Svcs Bus. Escrow Svcs Other Dollars in billions, unless otherwise indicated Net Deposit Growth Drivers Deposit CompositionDeposit Base 37% 36% 18% 9% Nonint. Bearing DDA MMDA & Savings Interest Bearing DDA CDs ~40% of NIB DDA is ECR-related • $53.6 billion in total deposits, down $1.9 billion from prior quarter • Mortgage Warehouse balances declined $3.2 billion, due to seasonal, year-end trends • Quarter-to-date 2023 average deposits >$2 billion higher from year-end, or 15%, greater than the same period last year • Scalable national funding channels, such as Settlement Services and HOA, grew by $683 million and $293 million, respectively, over prior quarter • 37% of total deposits are noninterest- bearing • ~40% of which are Earnings Credit Rate-related • 65% of noninterest-bearing change was due to short-term, seasonal decline in Mortgage Warehouse balances that are expected to return

$331 $350 $317 $312 $351 0.85% 0.85% 0.65% 0.60% 0.68% Q4-21 Q1-22 Q2-22 Q3-22 Q4-22 $12 $12 $12 $11 $11 $73 $91 $85 $90 $85 $216 $262 $249 $284 $297 Q4-21 Q1-22 Q2-22 Q3-22 Q4-22 Asset Quality 16 • Total Classified Assets of $393 million (58 bps to Total Assets) increased $8 million in Q4 • Non-Performing Loans + OREO of $96 million (14 bps to Total Assets) decreased by $5 million in Q4 • Borrowers remain stable, liquid and supported • Special Mention loans of $351 million (68 bps to Funded Loans) increased 8 bps as a percentage to Funded Loans • Over last 5+ years, less than 1% of Special Mention loans have migrated to loss Special Mention Loans Dollars in millions Classified Assets Special Mention Loans Asset Quality Ratios OREO Non-Performing Loans Classified Accruing Assets $301 $365 $346 $385 SM / Funded Loans 0.54% 0.60% 0.52% 0.56% 0.58% 0.15% 0.17% 0.15% 0.15% 0.14% Q4-21 Q1-22 Q2-22 Q3-22 Q4-22 Classified Assets / Total Assets Non-Performing Loans + OREO / Total Assets Q4 2022 Highlights $393

$3.9 $2.6 $2.4 $2.1 $2.2 ($2.5) ($2.4) ($1.0) ($4.0) ($0.4) $252 $258 $273 $304 $310 $37 $43 $54 $52 $47 $5 $3 $3 $4 $5 Q4-21 Q1-22 Q2-22 Q3-22 Q4-22 Credit Losses and ACL Ratios 17 • Provision expense of $3.1 million, driven by changes in the economic environment • Total Loan ACL / Funded Loans increased to 0.69% in Q4 as a result of heightened economic uncertainty • Total Loan ACL / Funded Loans less loans covered by credit linked notes is 0.89% • Net charge-offs of $1.8 million, 1 bp, compared to net recoveries $(1.9) million, (2) bps, in Q3 • 27% of loan portfolio is now credit protected, consisting of government guaranteed, CLN protected, and cash secured assets • 23% of portfolio covered by meaningful first loss protection from credit linked note issuances4 Dollars in millions Allowance for Credit Losses Gross Charge-offs and Recoveries Loan ACL Adequacy Ratios2 Total Loan ACL / Non-Performing Loans Total Loan ACL / Funded Loans3 Allowance for Loan & Lease Losses Unfunded Loan Commits.1 HTM Securities Gross Charge Offs Recoveries Q4 2022 Highlights 1) Included as a component of other liabilities on the balance sheet. 2) Total Loan ACL includes allowance for unfunded commitments. 3) Ratio includes an allowance for credit losses of $21.9 million as of December 31, 2022 related to a $12.0 billion pool of loans covered under 5 separate credit linked notes. 4) As of December 31, 2022, CLNs cover a substantial portion of Equity Fund Resources ($1.6 billion), Residential ($9.7 billion) and Warehouse Lending ($689 million) loans outstanding. Q4-21 Q1-22 Q2-22 Q3-22 Q4-22 0.74% 0.73% 0.68% 0.68% 0.69% 397% 331% 385% 396% 420% Q4-21 Q1-22 Q2-22 Q3-22 Q4-22

18 Specialized underwriting expertise and conservative sector allocations position portfolio to withstand economic uncertainty Conservative, Economically Resilient Portfolio Positioning Insured (27%) • Residential • Equity Fund Resources • Warehouse Lending • Early Buyout (“EBO”) Resi. & Other Government-Guaranteed or Cash-Secured Assets • Warehouse Lending • Includes Core WH Lending, Note Financing, MSR financing • Residential • Low LTVs; DQs significantly below national percentages • Equity Fund Resources • Capital Call & Subscription LOCs • Underwrite LPs behind private funds • Municipal / Public Finance • CRE – Industrial & Medical • HOA • Extremely low LTVs; lien in front of homeowner’s first mortgage Resilient (33%) • Regional CRE – Investor • Regional C&I • Hotel Franchise Finance (ex-Central Business District) • Regional CRE - Owner Occupied • Corporate Finance • Lot Banking • Specialized NBLs • Gaming – Off-strip, middle market gaming companies and tribal gaming enterprises • Resort – Timeshare resort developers; hypothecation of consumer receivables • Other NBLs 19% 3% 1% 4% 8% 9% 4% 2% • Construction (ex-Lot Banking) • Focused on note-on-note financing and Built-to-Rent developments • Tech & Innovation • Established tech firms with operating and financial flexibility, validated product, path to profitability • Hotel Franchise Finance (CBD only) • Large, sophisticated hotel sponsors who operate >25 hotels • 90% operate >10 properties with top franchisor flags • Small Business, CRA-Related, and Consumer Resistant (27%) More Sensitive (13%) 6% 4% 2% 1% 2% 2% 6% 3% 7% 6% 3% Credit protected, government guaranteed and cash-secured Historically low-to-no-loss loan categories Limited uncovered collateral risk, underwriting expertise, and strong counterparties Categories more directly correlated to economic growth 7% 1% Avg Loss Rate: 0.05% Max Loss Rate: 0.71% Avg Loss Rate: 0.02% Max Loss Rate: 0.16% Avg Loss Rate: 0.00% Max Loss Rate: 0.10% Avg Loss Rate: 0.00% Max Loss Rate: 0.00% Note: Average and maximum loss rates are quarterly annualized and from the period of Q1 2014 – Q4 2022.

0.00% 0.30% 0.60% 0.90% 1.20% Annualized Net Charge-Offs (Q1-14 to Q4-22) Max Average Demonstrated Conservative Credit Culture 19 Deliberate business transformation emphasizing underwriting specialization and diversification strategy, has produced sustained superior asset quality with reduced dispersion in realized credit losses Note: Peers compare 32 publicly traded banks headquartered in the U.S. with total assets between $25B and $150B, excluding target banks of pending acquisitions, as of September 30, 2022; Source: S&P Global Market Intelligence Peer Group Maximum Average Minimum Amount Bank Amount Amount Bank Average 39 bps Peer 32 15 bps 1 bp WAL Max 525 bps Peer 32 79 bps 13 bps WAL 5.25% 3.00%

Capital Accumulation 20 Regulatory Capital Levels • Continue to exceed “well-capitalized” levels • CET1 at 9.3% Tangible Common Equity / Tangible Assets1 • TCE / TA increased 60 bps from the prior quarter to 6.5% due to tempered asset growth and AOCI gain impact Capital Accretion • Robust improvement in capital levels over prior quarter, resulting from strategic capital management • RWA optimization levers raised CET1 by 20 bps quarter-over-quarter • Loans HFS reduction • HFI portfolio optimization • CLN transaction Robust Common Capital Levels Regulatory Capital 9.1% 9.0% 9.0% 8.7% 9.3% 7.3% 6.7% 6.1% 5.9% 6.5% Q4-21 Q1-22 Q2-22 Q3-22 Q4-22 CET1 Ratio TCE/TA1 Q4 2022 Highlights 1) Refer to slide 2 for further discussion of Non-GAAP financial measures Total RBC RatioTier 1 RatioLeverage Ratio 7.8% 8.0% 7.6% 7.5% 7.8% 9.9% 9.8% 9.7% 9.3% 10.0% 12.3% 12.0% 11.9% 11.4% 12.1% Q4-21 Q1-22 Q2-22 Q3-22 Q4-22 CET1 Ratio Q3-22 Net Income to Common Common Dividends Q4-22OtherHFS & HFI Contraction CLN RWA Optimization ~

411% 461% 95% 125% 2013 2014 2015 2016 2017 2018 2019 2020 2021 MRQ 21 Tangible Book Value per Share1 • TBVPS increased $3.09 to $40.25 from prior quarter due to strong, organic capital accretion and improvement in AOCI • Increased 6.4% year-over-year • Increased 8.3% quarter-over-quarter, non-annualized • 19.9% CAGR since year end 2013 • TBVPS has increased more than 4.3x that of peers • Quarterly common stock cash dividend of $0.36 per share Long-Term Growth in TBV per Share1 1) Refer to slide 2 for further discussion of Non-GAAP financial measures 2) MRQ is Q4-22 for WAL and Q3-22 for WAL Peers Note: Peers consist of 32 major exchange traded US banks with total assets between $25B and $150B as of September 30, 2022, excluding target banks of pending acquisitions; S&P Global Market Intelligence. WAL WAL with Dividends Added Back Peer Avg Peer Avg with Dividends Added Back 2 Tangible Book Value Growth Q4 2022 Highlights

Management Outlook Balance Sheet Growth Net Interest Margin Net Interest Income Adjusted Efficiency Pre-Provision Net Revenue Net Charge-Offs Capital 22

Questions & Answers

Appendix

25 • Deliberate, decade-long business transformation strategy • Nearly 70% of GFC losses from Q4-09 to Q4-12 came from categories comprising 44% of portfolio at Q4-09, which today makes up <6% of loans • Losses concentrated in Nevada and consumer lending during GFC • Since year-end 2013, cumulative NCOs of $29mm vs total ACL of $357mm today • No quarterly NCO >$8.2mm (13bps) • Diverse mix of regionally-focused commercial banking divisions and nationally-oriented, specialized businesses • National reach and deep segment expertise enables selective relationships with strong counterparties, leading profitability and superior company risk management • Nevada loan concentration reduction: 40% to 5% • National lending diversification: 21% to 50% • CRE loan concentration reduction: 54% to 20% • 53% of loans in low-to-no-loss categories today Highlights Deliberate business transformation emphasizes underwriting specialization and diversification strategy, which sustains superior asset quality Loan Portfolio: 2010 G eo gr ap hy Ch ar ac te ris tic s • Community banking focused • Nevada concentrated • Local business C&I and HNW developers 40.4% 21.9% 17.0% 20.7% NV CA AZ Other Other C&I 20% CRE, Owner Occupied 28% CRE, Non-Owner Occupied 24% Hotel 2% Warehouse Lending 1% Residential 11% C&D 10% Other 4% • National, specialized commercial bank • Regional footprint • Specialized C&I and institutional sponsor-backed developers Loan Portfolio: Q4 2022 27% of Loans Credit Protected $51.9 Bn$4.2 Bn Co m po si tio n Municipal & Nonprofit 3% Tech & Innovation 4% Other C&I 14% CRE, Owner Occupied 3% CRE, Non- Owner Occupied 11% Hotel Franchise Finance 8% Warehouse Lending 11% Residential 31% Equity Fund Resources 7% C&D 8% Business Transformation 37.0% 8.2% 5.4% 49.4% CA AZ NV Other

XML

DEI Document	Jan. 24, 2023
Entity Information [Line Items]
Entity Central Index Key	0001212545
Amendment Flag	false
Document Type	8-K
Document Period End Date	Jan. 24, 2023
Entity Incorporation, State or Country Code	DE
Entity File Number	001-32550
Written Communications	false
Soliciting Material	false
Pre-commencement Tender Offer	false
Pre-commencement Issuer Tender Offer	false
Entity Emerging Growth Company	false
Entity Tax Identification Number	88-0365922
Entity Registrant Name	WESTERN ALLIANCE BANCORPORATION
Entity Address, Address Line One	One E. Washington Street
Entity Address, City or Town	Phoenix
Entity Address, State or Province	AZ
Entity Address, Postal Zip Code	85004
City Area Code	602
Local Phone Number	389-3500
Common Stock [Member]
Entity Information [Line Items]
Title of 12(b) Security	Common Stock, $0.0001 Par Value
Trading Symbol	WAL
Security Exchange Name	NYSE
Noncumulative Preferred Stock
Entity Information [Line Items]
Title of 12(b) Security	Depositary Shares, Each Representing a 1/400th Interest in a Share of 4.250% Fixed-Rate Reset Non-Cumulative Perpetual Preferred Stock, Series A
Trading Symbol	WAL PrA
Security Exchange Name	NYSE