Western Alliance Bancorporation · NYSE:WAL
Western Alliance Bancorporation — Q1 2026 Earnings Presentation
24 slides from Western Alliance Bancorporation's earnings presentation, Apr 22, 2026
Slide 1: Earnings Call 1st Quarter 2026
EARNINGS CALL 1st Quarter 2026 April 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: Q1 2026 Highlights
Q1 2026 Highlights 1st Quarter 2026 | Financial Highlights Net Income EPS Earnings & Profitability Q1 2026 Q4 2025 Q1 2025 $189.2 million $1.65 Earnings per Share / Adjusted1 $ 1.65 / $ 2.22 $ 2.59 $ 1.79 $251.3 million, Adjusted1 $2.22, Adjusted1 Net Income / Adjusted1 189.2 / 251.3 293.2 199.1 Net
Slide 4: Quarterly Income Statement
Q1 2026 Highlights Quarterly Income Statement Net Interest Income was flat from the prior quarter, primarily due 1 to lower liability costs as well as average earning asset growth of Q1-26 Q4-25 Q1-25 $1.1 billion, largely offset by lower yields on earning assets, higher Interest Income1 $ 1,188.2 $
Slide 5: Consolidated Balance Sheet
Q1 2026 Highlights Consolidated Balance Sheet Securities and Cash increased $4.9 billion, or Q1-26 Q4-25 Q1-25 1 20.4%, to $28.9 billion, and increased $9.8 billion, Securities and Cash $ 28,946 1 $ 24,034 $ 19,147 or 51.2%, over prior year Loans, HFS 3,936 2 3,498 3,238 Loans, HFI 59,142 3 58,677 5
Slide 6: Loan Composition
Q1 2026 Highlights Loan Composition Loan growth from C&I businesses within Regional Banking and National Business Lines $4.4 Billion Year-over-Year Growth Increase (Decrease) by Loan Type: (in millions) QoQ YoY Total Loans, HFI $54.8 $55.9 $56.6 $58.7 $59.1 C&I $ 295 $ 4,106 Qtr Change +$1.1 +$1.1 +
Slide 7: Deposit Composition
Q1 2026 Highlights Deposit Composition Diversified deposit growth across Specialty Escrow Services and National Business Lines $13.4 Billion Year-over-Year Growth Increase (Decrease) by Deposit Type: (in millions) QoQ YoY Total Deposits $69.3 $71.1 $77.2 $77.2 $82.7 Non-Interest Bearing $ 3,725 $ 6,
Slide 8: Net Interest Drivers
Q1 2026 Highlights Net Interest Drivers Securities Portfolio and Yield1 Loans and HFI Yield1, 2 • Securities Portfolio yields increased 5 bps, as a result of consistent interest income over a lower day 4.81% 6.20% 6.17% 6.18% 6.01% 5.85% count 4.63% 4.72% 4.54% 4.59% $3.5 $3.9 • Loan yields decrease
Slide 9: Net Interest Income
Q1 2026 Highlights Net Interest Income Net Interest Income1 and Net Interest Margin Average Earning Assets & Average Yield1 • Average Earning Assets increased $1.1 billion, or Dollars in millions Dollars in billions 5.1% annualized, primarily from growth in average C&I loans and HFS loan balances 5.
Slide 10: Non-Interest Expense and Efficiency
Q1 2026 Highlights Non-Interest Expense and Efficiency Non-Interest Expense and Efficiency Ratio1 Breakdown of Non-Interest Expenses • Efficiency ratio1 held steady compared to the prior quarter, and decreased 770 bps from the same 63.5% 60.1% period last year 57.4% 55.7% 55.8% • Adjusted efficiency
Slide 11: Interest Rate Sensitivity
Q1 2026 Highlights Interest Rate Sensitivity NII Sensitivity - Ramp Scenario1 • A Ramp Scenario assumes a dynamic balance sheet and reflects an asset sensitive position on NII and a relatively neutral position on EaR 3.6% – WAL estimates a -100 bps ramp to reduce NII by 2.4% • EaR is liability sensi
Slide 12: Asset Quality
Q1 2026 Highlights Asset Quality Special Mention Loans Asset Quality Ratios • Criticized Loans increased $75 million quarterly to 1.44% 1.45% $1.4 billion 0.84% 0.79% 1.24% – Special Mention Loans increased $78 million to 0.55% 0.68% 1.17% 0.52% 1.08% $403 million (68 bps to Funded Loans) 0.92% 0.85
Slide 13: Credit Losses and ACL Ratios
Q1 2026 Highlights Credit Losses and ACL Ratios • Provision Expense of $213.2 million, primarily Allowance for Credit Losses on Loans Loan Charge-offs and Recoveries reflective of net-charge-offs $209.1 • Net Loan Charge-Offs of $208.5 million, or 145 bps, 1.45% compared to $44.6 million, or 31 bps,
Slide 14: Capital Accumulation
Q1 2026 Highlights Capital Accumulation Common Capital Ratios Regulatory Capital Ratios 11.3% • Continue to exceed “well-capitalized” levels with 11.1% 11.2% 11.0% 11.0% CET1 of 11.0% Tangible Common Equity / Tangible Assets1 7.2% 7.2% 7.1% 7.3% • TCE/TA decreased 50 bps to 6.8%, due to asset 6.8% g
Slide 15: Tangible Book Value Growth
Q1 2026 Highlights Tangible Book Value Growth Long-Term Growth in TBV per Share1 Tangible Book Value per Share1 5x • TBVPS was relatively flat at $61.14 WAL WAL with Dividends Added Back 461% – Increased 13.0% year-over-year Peer Median Peer Median with Dividends Added Back – 18.3% CAGR since year e
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 287% 17% produced consiste
Slide 17: Management Outlook
Management Outlook 2025 Baseline 2026 Outlook Revised 2026 Outlook Commentary Loans (HFI): $58.7 bn L (HFI): Up $6.0 bn L (HFI): Up $6.0 bn • Strong Q1 deposit growth positions Balance Sheet Growth Deposits: $77.2 bn us for deposit optimization D: Up $8.0 bn D: Up $8.0 bn • Opportunistically repurch
Slide 18: Questions & Answers
Questions & Answers
Slide 19: Appendix
NVA Western Alliance Bancorporation® Appendix
Slide 20: Lender Finance Overview
Highlights Lender Finance Overview • Target clients are established private credit funds: Diversified portfolio, structural protections and high frequency monitoring mitigates risks Scaled middle-market funds with a proven track record (W.A. AUM: $125 billion) Industry Exposure by Funded Amount1 ($2
Slide 21: Key Reserve Level Ratios
Q1 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: Q1-26 no-to-low-loss loan categories (Fund Banking, Residential & Mortgage Warehouse) 1.4
Slide 22: Commercial Real Estate Investor Statistics
Commercial Real Estate Investor Statistics $10.3 billion; 17% of Total Loans Underwriting Criteria and Mitigating Factors CRE Investor Portfolio (At Origination or Most Recent Appraisal) • Low LTV & LTC (50% to low 60%) range underwriting in areas minimizes tail risk 59% 62% • Simple capital structu
Slide 23: Commercial Real Estate Investor: Office
Commercial Real Estate Investor: Office $2.2 Billion; 21% of Total CRE Investor; 4% of Total Loans Distribution by LTV (At Origination or Most Recent Appraisal) Underwriting Criteria and Mitigating Factors • Primarily shorter-term bridge loans for repositioning or redevelopment projects • Strong spo
Slide 24: 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
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