Western Alliance Bancorporation · NYSE:WAL
Western Alliance Bancorporation — Q2 2026 Earnings Presentation
24 slides from Western Alliance Bancorporation's earnings presentation, Jul 22, 2026
Slide 1: Earnings Call 2nd Quarter 2026
EARNINGS CALL 2nd Quarter 2026 July 22, 2026
Slide 2: Forward-Looking Statements
Forward-Looking Statements This presentation contains forward-looking statements that relate to expectations, beliefs, projections, future plans and strategies, anticipated events or trends and similar expressions concerning matters that are not historical facts. Examples of forward-looking statemen
Slide 3: Q2 2026 Highlights
Q2 2026 Highlights 2nd Quarter 2026 | Financial Highlights Earnings & Profitability Q2 2026 Q1 2026 Q2 2025 Net Income EPS Earnings per Share / Adjusted1,2 $2.36 $1.65 / $2.22 $2.07 $268.8 million $2.36 Net Income / Adjusted1,2 268.8 189.2 / 251.3 237.8 Net Income Available to Common Stockholders /
Slide 4: Quarterly Income Statement
Q2 2026 Highlights Quarterly Income Statement Net Interest Income increased $30.6 million from the prior Q2-26 Q1-26 Q2-25 1 quarter, primarily from average earning asset growth of $2.7 Interest Income1 $ 1,231.9 $ 1,188.2 $ 1,154.4 billion Interest Expense (435.0) (421.9) (456.8) • Increased $99.3
Slide 5: Consolidated Balance Sheet
Q2 2026 Highlights Consolidated Balance Sheet Securities and Cash decreased $2.4 billion, or Q2-26 Q1-26 Q2-25 1 8.2%, to $26.6 billion, and increased $5.2 billion, or Securities and Cash $ 26,558 1 $ 28,946 $ 21,368 24.3%, over prior year Loans, HFS 4,347 2 3,936 3,022 Loans, HFI 60,949 3 59,142 55
Slide 6: Loan Composition
Q2 2026 Highlights Loan Composition Loan growth continues to be driven by our diversified C&I businesses $5.0 Billion Year-over-Year Growth Increase (Decrease) by Loan Type: (in millions) QoQ YoY Total Loans, HFI $55.9 $56.6 $58.7 $59.1 $60.9 C&I $ 1,542 $ 4,845 Qtr Change +$1.1 +$0.7 +$2.0 +$0.5 +$
Slide 7: Deposit Composition
Q2 2026 Highlights Deposit Composition Deposit trends in Q2 reflect initial results from deposit optimization strategy $10.8 Billion Year-over-Year Growth Increase (Decrease) by Deposit Type: (in millions) QoQ YoY Total Deposits $71.1 $77.2 $77.2 $82.7 $81.9 CDs $ 63 $ (296) Qtr Change +$1.8 +$6.1 $
Slide 8: Net Interest Drivers
Q2 2026 Highlights Net Interest Drivers Securities Portfolio and Yield1 Loans and HFI Yield1, 2 • Securities Portfolio yields increased 5 bps reflecting continued reinvestment at higher yields 4.81% 6.17% 6.18% 6.01% 5.85% 5.82% 4.72% 4.54% 4.59% 4.64% • Loan yields decreased 3 bps from remixing int
Slide 9: Net Interest Income
Q2 2026 Highlights Net Interest Income Net Interest Income1 and Net Interest Margin Average Earning Assets & Average Yield1 • Average Earning Assets increased $2.7 billion, or Dollars in millions Dollars in billions 12.2% annualized, primarily from growth in average investment securities and C&I loa
Slide 10: Non-Interest Expense and Efficiency
Q2 2026 Highlights Non-Interest Expense and Efficiency Non-Interest Expense and Efficiency Ratio1 Breakdown of Non-Interest Expenses • Efficiency ratio1 increased 220 bps compared to the prior quarter, and decreased 210 bps from the same 60.1% period last year 57.4% 58.0% 55.7% 55.8% 51.8% • Adjuste
Slide 11: Interest Rate Sensitivity
Q2 2026 Highlights Interest Rate Sensitivity Net Interest Income (NII) Sensitivity - Ramp Scenario1 • A Ramp Scenario assumes a dynamic balance sheet and reflects an asset sensitive position on NII and a neutral position on EaR2 3.2% – -100bps ramp to reduce NII by (2.7)% – +100bps ramp to increase
Slide 12: Asset Quality
Q2 2026 Highlights Asset Quality Special Mention Loans Asset Quality Ratios • Criticized Loans decreased $32 million quarterly to 1.45% $1.3 billion 1.24% 0.79% 0.52% 0.55% 0.68% 0.52% 1.17% 1.14% – Special Mention Loans decreased $87 million to 1.08% $316 million (52 bps to Funded Loans) 0.92% 0.92
Slide 13: Credit Losses and ACL Ratios
Q2 2026 Highlights Credit Losses and ACL Ratios • Provision Expense of $80.4 million, primarily Allowance for Credit Losses on Loans Loan Charge-offs and Recoveries reflective of net-charge-offs and loan growth $209.1 • Net Loan Charge-Offs of $55.0 million, or 37 bps, $52 1.45% compared to $208.5 m
Slide 14: Capital Accumulation
Q2 2026 Highlights Capital Accumulation Common Capital Ratios Regulatory Capital Ratios 11.3% • Continue to exceed “well-capitalized” levels with 11.2% 11.0% 11.0% 11.0% CET1 of 11.0% Tangible Common Equity / Tangible Assets1 7.2% 7.1% 7.3% 7.0% • TCE/TA increased 20 bps to 7.0%, primarily from 6.8%
Slide 15: Tangible Book Value Growth
Q2 2026 Highlights Tangible Book Value Growth Long-Term Growth in TBV per Share1 Tangible Book Value per Share1 5x • TBVPS increased $2.10 to $63.24 from organic WAL 482% WAL with Dividends Added Back earnings Peer Median – Increased 13.2% year-over-year Peer Median with Dividends Added Back 4x 404%
Slide 16: WAL's Industry-Leading Performance
Highlights WAL's Industry-Leading Performance Total shareholder returns driven by top-tier balance sheet growth and profitability • Growth-oriented business model, focused 10-Year TSR1 10-Year EPS Growth2 10-Year TBVPS Growth2 on low risk, high return loan composition, has 332% produced consistent,
Slide 17: Management Outlook
Management Outlook 2025 Baseline Prior 2026 Outlook Revised 2026 Outlook Commentary Loans (HFI): $58.7 bn L (HFI): Up $6.0 bn L (HFI): Up $5.0 bn • Lower deposit outlook reflects Balance Sheet Growth Deposits: $77.2 bn deliberate optimization strategy to D: Up $8.0 bn D: Up $6.0 bn reduce funding co
Slide 18: Questions & Answers
Questions & Answers
Slide 19: Appendix
NVA Western Alliance Bancorporation® Appendix
Slide 20: Consistent Growth with Disciplined Credit Performance
Consistent Growth with Disciplined Credit Performance Over 10 years, our asset quality has consistently outpaced our peers WAL Peer Median Special Mention Loans / Loans (HFI) Classified Loans / Loans (HFI) Criticized Loans / Loans (HFI) 3.0% 3.0% 5.0% 2.8% 4.3% 4.3% 2.2% 4.0% + = 2.2% 3.5% 2.0% 2.0%
Slide 21: Key Reserve Level Ratios
Q2 2026 Highlights Key Reserve Level Ratios Concentration in low-loss loan categories skews ACL lower relative to peers • Reserve levels enhanced by credit protection and Adjusted Total Loan ACL / Funded Loans: Q2-26 no-to-low-loss loan categories (Fund Banking, Residential & Mortgage Warehouse) 1.4
Slide 22: Non-Depository Financial Institution (NDFI) Loans
Non-Depository Financial Institution (NDFI) Loans NDFI loan mix adjusted for low-loss Mortgage Credit Intermediaries aligns with peer average % Total Loans1 Commercial Banks Mtg Credit Bus. Credit Private Equity Cons. Credit Other NDFI (>$50 bn Assets) Ticker Intermediaries Intermediaries Funds Inte
Slide 23: Lender Finance Overview
Highlights Lender Finance Overview Diversified portfolio, structural protections and high frequency monitoring mitigates risks • Target clients are established private credit funds: Scaled middle-market funds with a proven track record Industry Exposure by Funded Amount1 ($2.4 billion) – W.A. AUM: $
Slide 24: Commercial Real Estate: Office
Highlights Commercial Real Estate: Office • Total Committed: $3.0 billion CRE Office Portfolio – Total Criticized: $485 million (16%) Stabilized – 47% appraised within 18 months 3% – 30% originated in 2023 and later W.A. Debt W.A. LTV W.A. DSCR Yield • Stabilized: $2.4 billion (80%) 17% 58% 11% 1.4x
Western Alliance Bancorporation Common Stock (DE) — Q2 2026 Earnings Presentation on 6ix