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Last update at 2024-11-20T20:49:00Z
Q3 2024 Western Alliance Bancorp Earnings Call
Sat 19 Oct 24, 07:08 AMWestern Alliance Bancorporation Reports Third Quarter 2024 Financial Results
Thu 17 Oct 24, 08:48 PMWestern Alliance: Q3 Earnings Snapshot
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Thu 26 Sep 24, 11:05 AM| Breakdown | 2022-12-31 | 2021-12-31 | 2020-12-31 | 2019-12-31 | 2018-12-31 |
|---|---|---|---|---|---|
| Type | yearly | yearly | yearly | yearly | yearly |
| Date | 2022-12-31 | 2021-12-31 | 2020-12-31 | 2019-12-31 | 2018-12-31 |
| Income before tax | 1316.10M | 1123.00M | 622.50M | 604.23M | 510.33M |
| Minority interest | - | - | - | - | - |
| Net income | 1057.30M | 899.20M | 506.60M | 499.17M | 435.79M |
| Selling general administrative | 570.60M | 489.70M | 316.90M | 291.20M | 267.24M |
| Selling and marketing expenses | 22.10M | 13.50M | 4.10M | 4.20M | 3.77M |
| Gross profit | 2297.20M | 1843.90M | 1198.70M | 1051.76M | 922.61M |
| Reconciled depreciation | 74.60M | 50.00M | 34.60M | 28.91M | 14.32M |
| Ebit | 1812.70M | 1123.00M | 622.50M | 604.23M | 640.66M |
| Ebitda | 1887.30M | 1173.00M | 624.10M | 605.77M | 642.25M |
| Depreciation and amortization | 74.60M | 50.00M | 1.60M | 1.55M | 1.59M |
| Non operating income net other | - | 5.90M | - | - | - |
| Operating income | 1812.70M | 1123.00M | 622.50M | 604.23M | 627.93M |
| Other operating expenses | 122.00M | -720.90000M | -576.20000M | -447.53700M | 294.68M |
| Interest expense | 475.50M | 109.90M | 94.90M | 184.63M | 117.60M |
| Tax provision | 258.80M | 223.80M | 115.90M | 105.06M | 74.54M |
| Interest income | 2691.80M | 1658.70M | 1261.80M | 1218.91M | 1025.57M |
| Net interest income | 2216.30M | 1548.80M | 1166.90M | 1034.28M | 907.96M |
| Extraordinary items | - | - | - | 0.00000M | 0.00000M |
| Non recurring | - | - | - | - | - |
| Other items | - | - | - | - | - |
| Income tax expense | 258.80M | 223.80M | 115.90M | 105.06M | 74.54M |
| Total revenue | 2297.20M | 1843.90M | 1198.70M | 1051.76M | 922.61M |
| Total operating expenses | 122.00M | -720.90000M | -576.20000M | -447.53700M | -294.68000M |
| Cost of revenue | -55.50000M | -53.50000M | - | - | 140.60M |
| Total other income expense net | -496.60000M | -109.90000M | -94.90000M | -184.63300M | -117.60400M |
| Discontinued operations | - | - | - | - | - |
| Net income from continuing ops | 1057.30M | 899.20M | 506.60M | 499.17M | 435.79M |
| Net income applicable to common shares | 1044.50M | 895.70M | 506.60M | 499.17M | 435.79M |
| Preferred stock and other adjustments | -12.80000M | -3.50000M | - | - | - |
| Breakdown | 2022-12-31 | 2021-12-31 | 2020-12-31 | 2019-12-31 | 2018-12-31 |
|---|---|---|---|---|---|
| Type | yearly | yearly | yearly | yearly | yearly |
| Date | 2022-12-31 | 2021-12-31 | 2020-12-31 | 2019-12-31 | 2018-12-31 |
| Total assets | 67734.00M | 55982.60M | 36461.00M | 26821.90M | 23109.50M |
| Intangible assets | 1148.00M | 698.00M | 8.60M | 7.71M | 9.26M |
| Earning assets | - | 13176.00M | 5504.80M | 4577.71M | 4306.93M |
| Other current assets | -784.00000M | 39549.20M | 22732.30M | 18165.56M | 14877.95M |
| Total liab | 62378.00M | 51020.00M | 33047.50M | 23805.20M | 20495.80M |
| Total stockholder equity | 5356.00M | 4962.60M | 3413.50M | 3016.70M | 2613.70M |
| Deferred long term liab | - | - | - | - | - |
| Other current liab | 2200.00M | -919.40000M | -472.40000M | -520.30000M | 19455.79M |
| Common stock | 2058.00M | 1879.40M | 1319.80M | 1311.40M | 1364.60M |
| Capital stock | 2353.00M | 2260.70M | 1390.90M | 0.01000M | 0.01000M |
| Retained earnings | 3664.00M | 2773.00M | 2001.40M | 1680.30M | 1282.70M |
| Other liab | 1299.00M | 37.60M | 37.00M | 464.81M | 401.48M |
| Good will | 680.00M | 634.80M | 298.50M | 297.60M | 299.20M |
| Other assets | 58953.00M | 40088.80M | 23070.90M | 18508.39M | 0.01M |
| Cash | 1043.00M | 516.40M | 2671.70M | 434.60M | 498.60M |
| Cash and equivalents | - | - | - | - | - |
| Total current liabilities | 3609.00M | 919.40M | 472.40M | 520.30M | 679.50M |
| Current deferred revenue | - | - | - | - | - |
| Net debt | 6334.00M | 2007.50M | -2038.10000M | 37.10M | 352.90M |
| Short term debt | 52.00M | 51.90M | 5.00M | 0.00000M | 235.00M |
| Short long term debt | 52.00M | 51.90M | 5.00M | 0.00000M | 235.00M |
| Short long term debt total | 7377.00M | 2523.90M | 633.60M | 471.70M | 851.50M |
| Other stockholder equity | 190.00M | -381.30000M | -71.10000M | 1311.41M | 1364.64M |
| Property plant equipment | 439.00M | 314.90M | 134.10M | 125.84M | 119.47M |
| Total current assets | 7351.00M | 6705.20M | 7380.20M | 3780.91M | 18653.51M |
| Long term investments | 8760.00M | 7540.90M | 26774.10M | 21440.61M | 4037.34M |
| Net tangible assets | 4381.00M | 4033.30M | 3115.00M | 2719.14M | 2314.58M |
| Short term investments | 7092.00M | 6188.80M | 4708.50M | 3346.31M | 3276.99M |
| Net receivables | - | - | 1.60M | 1.60M | 1.40M |
| Long term debt | 7192.00M | 2381.10M | 5.00M | 393.56M | 360.46M |
| Inventory | 11.00M | 11.70M | 1.40M | 13.85M | 17.92M |
| Accounts payable | 1357.00M | 867.50M | 467.40M | 520.30M | 444.50M |
| Total permanent equity | - | - | - | - | - |
| Noncontrolling interest in consolidated entity | - | - | - | - | - |
| Temporary equity redeemable noncontrolling interests | - | - | - | - | - |
| Accumulated other comprehensive income | -661.00000M | 15.70M | 92.30M | 25.00M | -33.60000M |
| Additional paid in capital | - | - | - | - | - |
| Common stock total equity | 2163.00M | 1966.20M | 1390.90M | 0.01000M | 0.01000M |
| Preferred stock total equity | 295.00M | 294.50M | - | - | - |
| Retained earnings total equity | 3664.00M | 2773.00M | 2001.40M | 1680.32M | 1282.70M |
| Treasury stock | -105.00000M | -86.80000M | -71.10000M | -62.72800M | -53.08300M |
| Accumulated amortization | - | - | - | - | - |
| Non currrent assets other | -9908.00000M | -20.90000M | -31.30000M | -18.02500M | 244.18M |
| Deferred long term asset charges | - | - | - | - | - |
| Non current assets total | 1430.00M | 9188.60M | 6009.90M | 4532.60M | 4455.97M |
| Capital lease obligations | 185.00M | 142.80M | 79.90M | 78.11M | - |
| Long term debt total | 7192.00M | 2381.10M | 5.00M | 393.56M | 491.00M |
| Breakdown | 2022-12-31 | 2021-12-31 | 2020-12-31 | 2019-12-31 | 2018-12-31 |
|---|---|---|---|---|---|
| Type | yearly | yearly | yearly | yearly | yearly |
| Date | 2022-12-31 | 2021-12-31 | 2020-12-31 | 2019-12-31 | 2018-12-31 |
| Investments | -12962.30000M | -14634.50000M | -7349.00000M | -3505.75900M | -2575.44000M |
| Change to liabilities | 0.00000M | 0.00000M | 0.00000M | 0.00000M | 19.31M |
| Total cashflows from investing activities | -13130.10000M | -14711.90000M | -7537.50000M | -3723.03300M | -2713.43300M |
| Net borrowings | 5406.70M | -1162.30000M | 151.20M | -496.73600M | 97.39M |
| Total cash from financing activities | 11411.80M | 15210.60M | 9104.40M | 2941.28M | 2254.26M |
| Change to operating activities | -38.70000M | -157.60000M | -10.40000M | 111.35M | 20.69M |
| Net income | 1057.30M | 899.20M | 506.60M | 499.17M | 435.79M |
| Change in cash | 527.00M | -2155.30000M | 2237.10M | -63.97600M | 81.80M |
| Begin period cash flow | 516.40M | 2671.70M | 434.60M | 498.57M | 416.77M |
| End period cash flow | 1043.40M | 516.40M | 2671.70M | 434.60M | 498.57M |
| Total cash from operating activities | 2245.30M | -2654.00000M | 670.20M | 717.77M | 540.97M |
| Issuance of capital stock | 157.70M | 834.80M | - | - | 0.00000M |
| Depreciation | 74.60M | 50.00M | 34.60M | 28.91M | 14.32M |
| Other cashflows from investing activities | -22.10000M | -31.80000M | -161.70000M | -182.12600M | -126.68000M |
| Dividends paid | -166.20000M | -127.60000M | -101.30000M | -51.32900M | 51.33M |
| Change to inventory | - | - | - | - | - |
| Change to account receivables | - | - | - | - | - |
| Sale purchase of stock | 157.70M | 15289.60M | -71.60000M | -120.13100M | -35.68800M |
| Other cashflows from financing activities | 11451.00M | -15.80000M | -7.90000M | -9.64500M | 2289.95M |
| Change to netincome | 39.30M | 98.50M | 118.70M | 35.30M | 25.37M |
| Capital expenditures | 141.00M | 69.40M | 26.80M | 35.15M | 11.31M |
| Change receivables | - | - | - | - | - |
| Cash flows other operating | 46.70M | -91.80000M | 45.00M | 147.75M | 31.93M |
| Exchange rate changes | - | - | - | - | - |
| Cash and cash equivalents changes | 527.00M | -2155.30000M | 2237.10M | -63.97600M | 81.80M |
| Change in working capital | -38.70000M | -157.60000M | -10.40000M | 111.35M | 20.69M |
| Stock based compensation | 39.80M | 35.10M | 28.70M | 26.24M | 25.71M |
| Other non cash items | 1117.70M | -3572.20000M | 86.60M | 15.73M | 25.28M |
| Free cash flow | 2104.30M | -2723.40000M | 643.40M | 682.62M | 529.66M |
Sector: Financial Services Industry: Banks - Regional
| Company | Change (USD) | Price (USD) | Trailing PE (x) | Forward PE (x) | Price Sales TTM (x) | Price to Book Value (x) |
|---|---|---|---|---|---|---|
| WAL Western Alliance Bancorporation |
-0.17 0.19% | 88.99 | 8.32 | 7.69 | 2.69 | 1.27 |
| HDB HDFC Bank Limited ADR |
0.23 0.37% | 63.38 | 20.81 | 20.96 | 0.11 | 4.77 |
| CIHHF China Merchants Bank Co Ltd Class H |
- -% | 4.70 | 4.13 | 3.71 | 0.32 | 0.59 |
| CIHKY China Merchants Bank Co Ltd |
0.09 0.39% | 23.27 | 4.27 | 3.64 | 0.33 | 0.58 |
| IBN ICICI Bank Limited |
0.005 0.02% | 29.77 | 17.79 | 16.95 | 0.07 | 3.08 |
Western Alliance Bancorporation operates as the bank holding company for Western Alliance Bank that provides various banking products and related services primarily in Arizona, California, and Nevada. It operates through Commercial and Consumer Related segments. The company offers deposit products, including checking, savings, and money market accounts, as well as fixed-rate and fixed maturity certificates of deposit accounts; demand deposits; and treasury management and residential mortgage products and services. It also offers commercial and industrial loan products, such as working capital lines of credit, loans to technology companies, inventory and accounts receivable lines, mortgage warehouse lines, equipment loans and leases, and other commercial loans; commercial real estate loans, which are secured by multi-family residential properties, professional offices, industrial facilities, retail centers, hotels, and other commercial properties; construction and land development loans for single family and multi-family residential projects, industrial/warehouse properties, office buildings, retail centers, medical office facilities, and residential lot developments; and consumer loans. In addition, the company provides other financial services, such as internet banking, wire transfers, electronic bill payment and presentment, funds transfer and other digital payment offerings, lock box services, courier, and cash management services. Further, it holds certain investment securities, municipal and non-profit loans, and leases; invests primarily in low-income housing tax credits and small business investment corporations; and holds certain real estate loans and related securities. Western Alliance Bancorporation was founded in 1994 and is headquartered in Phoenix, Arizona.
One East Washington Street, Phoenix, AZ, United States, 85004
| Name | Title | Year Born |
|---|---|---|
| Mr. Kenneth A. Vecchione | CEO, Pres & Director | 1954 |
| Mr. Dale M. Gibbons | Vice Chairman, Exec. VP & CFO | 1960 |
| Mr. Timothy W. Boothe | Chief Operating Officer | 1966 |
| Mr. Randall S. Theisen | Chief Legal Officer & Head of Corp. Affairs | 1958 |
| Mr. James Kelly Ardrey Jr. | Sr. VP & Chief Accounting Officer | 1968 |
| Mr. Jeff Semonovich | Chief Information Officer | NA |
| Mr. Miles Pondelik | Director of Investor Relations & Corp. Devel. | NA |
| Ms. Barbara J. Kennedy | Chief Human Resource Officer | 1967 |
| Mr. Robert R. McAuslan | Exec. VP | 1948 |
| Mr. Don H. Garner | Division CEO of Alliance Bank of Arizona | 1957 |
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