Western Alliance Bancorporation

Last updated

Western Alliance Bancorporation
Company type Public
NYSE:  WAL
Industry Banking
Founded1994;30 years ago (1994) in Las Vegas, Nevada [1]
Headquarters Phoenix, Arizona
Area served
Arizona, California, and Nevada
Key people
Bruce Beach (Chairman)
Kenneth Vecchione (President & CEO)
Dale Gibbons (Vice chairman & CFO)
Decrease2.svg US$709 million (2023)
Total assets Increase2.svg $70.862 billion (2023)
Total equity Increase2.svg $6.078 billion (2023)
Number of employees
3,260 (2023)
Website westernalliancebancorporation.com
Footnotes /references
[2]

Western Alliance Bancorporation is a regional bank holding company headquartered in Phoenix. It is on the list of largest banks in the United States and is ranked 97th on the Forbes list of America's Best Banks. [3]

Contents

The company's banking subsidiaries include Alliance Association Bank, a commercial bank specializing in homeowner associations in Arizona; Alliance Bank of Arizona, a retail bank; Bank of Nevada, a retail bank in Clark County, Nevada; Bridge Bank, a commercial bank in the San Francisco Bay Area with loan production offices in nine states; First Independent Bank, a retail bank in western Nevada, and Torrey Pines Bank, a retail bank in Southern California. Western Alliance also owns AmeriHome Mortgage, a mortgage loan company. [2]

History

The bank was founded in 1994 in Las Vegas, Nevada. [1] [4]

In 2010, it moved its headquarters to Phoenix, Arizona. [5]

In October 2012, it acquired Western Liberty Bancorp for $55 million. [6]

In April 2021, the company acquired AmeriHome for $1.22 billion. [7]

During the 2023 United States banking crisis, the company's share price fell due its exposure to the technology sector and its amount of uninsured deposits; however, the share price rallied to new highs quickly. [8]

Related Research Articles

Washington Mutual, Inc. was an American savings bank holding company based in Seattle. It was the parent company of WaMu Bank, which was the largest savings and loan association in the United States until its collapse in 2008.

Washington Federal Bank is an American bank based in Seattle, Washington. It operates over 200 branches throughout Washington, Oregon, Idaho, Nevada, Utah, Arizona, New Mexico, California, and Texas.

<span class="mw-page-title-main">U.S. Bancorp</span> American bank holding company

U.S. Bancorp is an American bank holding company based in Minneapolis, Minnesota, and incorporated in Delaware. It is the parent company of U.S. Bank National Association, and is the fifth largest banking institution in the United States. The company provides banking, investment, mortgage, trust, and payment services products to individuals, businesses, governmental entities, and other financial institutions. As of 2019, it had 3,106 branches and 4,842 automated teller machines, primarily in the Western and Midwestern United States. In 2023 it ranked 149th on the Fortune 500, and it is considered a systemically important bank by the Financial Stability Board. The company also owns Elavon, a processor of credit card transactions for merchants, and Elan Financial Services, a credit card issuer that issues credit card products on behalf of small credit unions and banks across the U.S.

<span class="mw-page-title-main">Citizens Financial Group</span> Eastern U.S. bank

Citizens Financial Group, Inc. is an American bank holding company, headquartered in Providence, Rhode Island. The company owns the bank Citizens Bank, N.A., which operates in the U.S. states of Connecticut, Delaware, Florida, Maryland, Massachusetts, Michigan, New Hampshire, New Jersey, New York, Ohio, Pennsylvania, Rhode Island, Vermont, and Virginia, as well as Washington, DC.

First Horizon Corporation, formerly First Tennessee Bank, is a financial services company, founded in 1864, and based in Memphis, Tennessee. Through its banking subsidiary First Horizon Bank, it provides financial services through locations in 12 states across the Southeast, a region in which it is the fourth largest regional bank.

The Bank of Hawaii Corporation is an American regional commercial bank headquartered in Honolulu, Hawaii. It is Hawaii's second oldest bank and its largest locally owned bank in that the majority of the voting stockholders reside within the state. Bank of Hawaii has the most accounts, customers, branches, and ATMs of any financial institution in the state. The bank consists of four business segments: retail banking, commercial banking, investment services, and treasury. The bank is currently headed by chairman, president and chief executive officer, Peter S. Ho.

<span class="mw-page-title-main">Regions Financial Corporation</span> Financial services company based in Birmingham, Alabama

Regions Financial Corporation is an American bank holding company headquartered in the Regions Center in Birmingham, Alabama. The company provides retail and commercial banking, trust, stock brokerage, and mortgage services. Its banking subsidiary, Regions Bank, operates about 2,000 automated teller machines and 1,300 branches in 15 states in the Southern and Midwestern United States. Regions is ranked 483rd on the Fortune 500 and 140th on Fortune's list of "America's Most Innovative Companies. Component headquartered in Alabama, Regions is also on the list of largest banks in the United States.

<span class="mw-page-title-main">BankAtlantic</span> Former Florida bank

BankAtlantic was a US bank that operated in the state of Florida until it was acquired in 2012 by BB&T Corporation. It provided consumer and business banking services to communities throughout Florida.

<span class="mw-page-title-main">New York Community Bank</span> US Bank

New York Community Bancorp, Inc. (NYCB), headquartered in Hicksville, New York, is a bank holding company for Flagstar Bank. In 2023, the bank operated 395 branches in New York, Michigan, New Jersey, Ohio, Florida, Arizona and Wisconsin. Branches used to be operated under the names Queens County Savings Bank, Roslyn Savings Bank, Richmond County Savings Bank, Roosevelt Savings Bank, and Atlantic Bank in New York; Garden State Community Bank in New Jersey; Ohio Savings Bank in Ohio; and AmTrust Bank in Arizona and Florida. However, they rebranded all of these under the Flagstar name on February 21, 2024. NYCB is on the list of largest banks in the United States and is one of the largest lenders in the New York City metro area.

<span class="mw-page-title-main">First Interstate Bancorp</span> Defunct American bank holding company

First Interstate Bancorp was a bank holding company based in the United States that was taken over in 1996 by Wells Fargo. Headquartered in Los Angeles, it was the nation's eighth largest banking company.

<span class="mw-page-title-main">Zions Bancorporation</span> U.S. financial services company

Zions Bancorporation is a national bank headquartered in Salt Lake City, Utah. It operates as a national bank rather than as a bank holding company and does business under the following seven brands: Zions Bank, Amegy Bank of Texas, California Bank and Trust, National Bank of Arizona, Nevada State Bank, Vectra Bank Colorado, and the Commerce Bank of Washington. It has 416 branches and over 1 million customers. It was founded by the Church of Jesus Christ of Latter-day Saints in 1873, although the church divested its interest in the bank in 1960.

Mercantile Bancorporation was the largest bank holding company in Missouri when it was acquired by Firstar Corporation in 1999.

Silver State Bank was a failed Nevada commercial bank with 17 branches in the Las Vegas and Phoenix metropolitan areas and loan operations across the western United States. The bank's assets were acquired by Zions Bancorporation, a bank holding corporation with $2 billion in assets.

<span class="mw-page-title-main">Rainier Bancorp</span>

Rainier Bancorporation was the Seattle-based parent corporation of Rainier National Bank, a Washington state bank with branches throughout the state. Rainier traced its roots back to the National Bank of Commerce, which was founded by Richard Holyoke in 1889. The name Rainier National Bank was adopted in 1974. Rainier Bancorp expanded into Alaska with the purchase of Anchorage's People's Bank & Trust in 1983 and into Oregon with the purchase of Gresham's Mount Hood Security Bank in 1986, expanding further in Oregon in 1986 with the government-assisted purchase of Portland's failed Lincoln Savings & Loan Association.

<span class="mw-page-title-main">Axos Financial</span> Bank holding company based in Las Vegas, Nevada

Axos Financial is a bank holding company based in Las Vegas, Nevada. The company operates Axos Clearing LLC, a financial custodian; Axos Bank, a direct bank; registered investment adviser services via Axos Advisor Services; and operates an electronic trading platform via Axos Invest, Inc.

<span class="mw-page-title-main">PacWest Bancorp</span> American bank holding company

PacWest Bancorp is an American bank holding company based in Beverly Hills, California, with one wholly owned banking subsidiary, Pacific Western Bank. It is a subsidiary of Banc of California.

<span class="mw-page-title-main">Glacier Bancorp</span> U.S. banking company

Glacier Bancorp, Inc. is a regional multi-bank holding company headquartered in Kalispell, Montana, United States. It is a successor corporation to the Delaware corporation originally incorporated in 1990. The company provides personal and commercial banking services from 221 locations in Montana, Idaho, Utah, Washington, Wyoming, Colorado, Arizona, and, Nevada.

<span class="mw-page-title-main">Fidelity Southern Corporation</span> Former financial holding firm in Atlanta, Georgia

Fidelity Southern Corporation was an American financial holding company headquartered in Atlanta, Georgia. It wholly owns Fidelity Bank and the LionMark Insurance Company. It was acquired by Ameris Bancorp in July 2019.

<span class="mw-page-title-main">Norwest Corporation</span> Former American banking and financial services company

Norwest Corporation was a banking and financial services company based in Minneapolis, Minnesota, United States. In 1998, it merged with Wells Fargo & Co. and since that time has operated under the Wells Fargo name.

<span class="mw-page-title-main">Ameris Bancorp</span> Publicly traded banking company

Ameris Bancorp is a bank holding company headquartered in Atlanta, Georgia. Through its bank subsidiary, Ameris Bank, the company operates full-service branches in Georgia, Alabama, Florida, North Carolina and South Carolina, and mortgage-only locations in Georgia, Alabama, Florida, North Carolina, South Carolina, Virginia, Maryland, and Tennessee.

References

  1. 1 2 "Western Alliance Bancorporation Preliminary Prospectus". U.S. Securities and Exchange Commission. June 17, 2005.
  2. 1 2 "Western Alliance Bancorporation 2023 Annual Report (Form 10-K)". U.S. Securities and Exchange Commission. February 28, 2024.
  3. "America's Best Banks: Western Alliance Bank". Forbes .
  4. Rob Copeland (June 14, 2023). "'Do You Even Want Us to Exist?' A Bank Chief Fights to Survive". The New York Times . ISSN   0362-4331. Wikidata   Q119502891.
  5. Edwards, John G. (May 26, 2011). "Western Alliance loses some ties to state". Las Vegas Review-Journal.
  6. "Western Alliance Bancorporation to Acquire Western Liberty Bancorp" (Press release). Business Wire. August 17, 2012.
  7. "Western Alliance Completes Previously Announced AmeriHome Mortgage Company Transaction" (Press release). Business Wire. April 7, 2021.
  8. Reyes, Max; Bradham, Bre (July 18, 2023). "Western Alliance Earnings Give Shot at Winning Back Wary Market". Bloomberg News .