Short answer
Western Alliance Bancorporation (WAL) filed its fiscal 2018 10-K annual report with the SEC on Mar 1, 2019. It reported revenue of $1.0B (+22.2% year over year) and net income of $436M.
- Top risk flagged: Regulatory enforcement: FDIC, CFPB, or state banking actions could restrict acquisitions, impose penalties, or terminate deposit insurance
FY2018 key financial metrics · XBRL
- Revenue
- $1.0B
- +22.2% YoY
- Net income
- $436M
- +33.9% YoY
- EPS (diluted)
- $4.14
- +33.5% YoY
- ROE
- 16.7%
- +2.1 pp YoY
- Operating cash flow
- $541M
- +40.9% YoY
Source: XBRL data from the Western Alliance Bancorporation (WAL) FY2018 10-K on SEC EDGAR. USD.
Western Alliance Bancorporation FY2018 10-K analysis
AI summary of each section, grounded in the filing text
Business Overview
- Full-service commercial bank serving business customers through regional divisions and specialized national banking platforms
- Loan portfolio expanded to $17.71 billion, up from $15.09 billion, with residential real estate rising to 6.8% from 2.8%
- Geographic reach broadened through out-of-footprint lending, increasing to 29.5% from 28.2%
- Deposits grew to $19.18 billion, while non-interest-bearing mix declined to 38.9% from 43.9%
- 1,787 full-time equivalent employees supporting operations across Arizona, Nevada, California and other U.S. locations
Management Discussion & Analysis
- Net operating revenue $970.3M, up 17.2% YoY, while net income reached $435.8M vs $325.5M
- Net interest margin 4.68% vs 4.65%, return on average assets 2.05% vs 1.72%
- Best segment: Technology & Innovation pretax income $72.3M vs $51.3M; worst: Corporate & Other loss $38.0M vs $51.7M
- Operating cash flow $541.0M; loans increased $2.59B and deposits $2.20B
- Capital allocation: $250M repurchase authorization, no common dividends anticipated; key risks included credit losses, liquidity, and regulatory changes
Risk Factors
- Regulatory enforcement: FDIC, CFPB, or state banking actions could restrict acquisitions, impose penalties, or terminate deposit insurance
- Geographic concentration: Arizona, California, and Nevada markets expose results to regional downturns, foreclosures, and collateral declines
- Operational vulnerability: Outsourced data processing, storage, online banking, and network services create third-party disruption and cyberattack exposure
- Market disruption: FinTech disintermediation could reduce fee income and customer deposits by enabling direct payments and fund transfers
- Structural risk: $491.0 million FHLB borrowings and $325 million subordinated debt increase funding and liquidation-priority exposure
Generated from the filing text; verify against the original. How to read a 10-K
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