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Western Alliance Bancorporation (WAL) filed its Q2 2018 10-Q quarterly report on Jul 31, 2018 for the quarter ended Jun 30, 2018.
Western Alliance Bancorporation Q2 2018 10-Q analysis
AI summary of MD&A and risk factor updates
Management Discussion & Analysis
- Net operating revenue $238.2M, up 17.1% YoY from $203.4M
- Net income $104.7M vs $80.0M, net interest margin 4.70% vs 4.61%
- Best segment Arizona, pre-tax income $37.3M; worst Corporate & Other, loss $4.7M
- Operating cash flow $247.4M; loans increased $968.7M and deposits $1.11B
- Headwinds: higher deposit and funding costs, CRE concentration at 51% of total loans, rising credit-loss provision to $5.0M from $3.0M
Risk Factors
- No material risk-factor changes disclosed in the provided 10-Q
- Regulatory risk: CECL implementation required model development, data formation, software installation, and control-framework evaluation
- Credit risk: CRE loans represented 51% of total loans, concentrated in Arizona, Nevada, and California real estate markets
- Operational risk: Unfunded commitments and letters of credit increased to $6.93 billion, with $7.6 million reserved for losses
- Financial risk: $75.0 million of short-term FHLB advances outstanding, alongside $325.0 million subordinated debt due in 2025 and 2056
Generated from the filing text; verify against the original. 10-K vs 10-Q vs 8-K
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