Western Alliance Bancorporation
- Western Alliance Bancorp extended gains for the second day in a row by 8% to $46.42 despite the company reporting weak quarterly results.
Net revenue increased 21.3% to $669.3 million and net income decreased 17.1% to $215.7 million from $260.2 million and diluted earnings per share fell to $1.96 from $2.39 a year ago.
Total deposits declined 5% from a year ago and rose 7.3% from the previous quarter to $51.0 billion.
The rise in deposits from the previous quarter showed that the bank is attracting more customers, a key driver indicator of the customer confidence.
Net interest margin decreased to 3.42% from 3.54% a year ago and from 3.79% in the previous quarter.
Jul 19, 2023
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