**Western Alliance Bancorporation Reports Increased Net Income and Revenue for 2025**
Western Alliance Bancorporation (WAL) announced a net income available to common stockholders of $956.2 million, or $8.73 per diluted share, for the year ended December 31, 2025. This represents an increase compared to $774.9 million, or $7.09 per diluted share, reported for the previous fiscal year. The company's net revenue reached $3.5 billion, marking a 12.0% increase of $380.9 million year-over-year. This revenue growth outpaced the increase in non-interest expenses, which rose by 4.3% or $86.7 million.
The company's pre-provision net revenue (PPNR) increased to $1.4 billion, up from $1.1 billion in 2024. The effective tax rate for 2025 was 17.9%, a decrease from 20.5% in the prior year. Total loans held for investment (HFI) amounted to $58.7 billion, an increase of $5.0 billion from December 31, 2024, while total deposits reached $77.2 billion, up $10.8 billion from the previous year. Total equity stood at $7.9 billion, reflecting a $1.2 billion increase from the end of 2024.
Key operational metrics revealed that nonperforming assets, including nonaccrual loans and repossessed assets, increased to 0.69% of total assets, compared to 0.65% at the end of 2024. Net loan charge-offs to average loans outstanding were 0.24% for 2025, up from 0.18% in the prior year. The net interest margin was 3.51% in 2025, slightly down from 3.58% in 2024. The return on average assets was 1.12% for 2025, compared to 0.99% for 2024. The company's tangible common equity ratio was 7.3%, a slight increase from 7.2% at the end of 2024. Book value per common share increased by 15.4% to $67.20, and tangible book value per share, net of tax, rose by 17.3% to $61.29. The efficiency ratio was 58.9% in 2025, an improvement from 63.2% in 2024.
Western Alliance Bancorporation also reported on strategic and operational developments. Effective October 4, 2025, the company completed its brand unity initiative, consolidating its legacy division bank brands under the Western Alliance Bank name. The company's loan portfolio includes significant credit exposure to the commercial real estate (CRE) market, with CRE-related loans comprising approximately 27% of total loans. In August 2025, the Bank initiated a lawsuit in connection with its note finance revolving credit facility to Cantor Group V, LLC, alleging fraud by the borrower for failing to provide collateral loans in first position, seeking appointment of a receiver and recovery of funds, and other forms of relief and damages related to claims against the borrower. The company's employee headcount increased by 7% to 3,769 full-time equivalent employees as of December 31, 2025. The company's board of directors approved a cash dividend of $0.42 per common share during the fourth quarter of 2025.
About WESTERN ALLIANCE BANCORPORATION
Western Alliance Bancorporation is a bank holding company providing commercial, consumer, and specialized financial services through its banking subsidiaries. It offers loans, deposit products, treasury management, mortgage banking, and digital payment solutions. Serving small to middle-market businesses, real estate investors, and individual customers, it emphasizes personalized service, risk management, and community engagement within regional markets, primarily in Arizona, California, and Nevada.
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