Western Alliance Bancorp. in Phoenix reported higher first-quarter profit as its remains a busy dealmaker.
Net income at the $15 billion-asset company rose 5% to $61 million from the previous quarter. Year-over-year results were skewed by Western Alliance's June
Net interest income after the loan-loss provision rose 2% to $143 million. The net interest margin narrowed 9 basis points to 4.58%. Total loans rose 1% to $11.2 billion.
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The management team at Western Alliance Bancorp. has decades of experience with hotel development. The company's pending purchase of a large loan book and expansion into national hotel lending will be scrutinized in coming years.
March 30 -
Western Alliance Bancorp. relishes niches with thin competition and high rewards. Its deal for Bridge Capital is no different: The seller serves small tech companies that provide high liquidity and ample fee revenue.
March 13 -
Competitive pricing and softening demand at the high end of the apartment- and condo-building market had executives at BankUnited, Signature and New York Community answering tough questions about their growth projections and diversification strategies.
April 20
Noninterest income rose 39% to $13 million on higher deposit charges, lending-related income, gains on loan sales and gains on the sale of investment securities.
Noninterest expense rose 4% to $75 million.
Western Alliance on Wednesday completed its
