Popular on EntSun
- Accendo's Talent Intelligence Platform Secures Pre-Series A Funding from The Hive SEA and OSK Ventures
- NBC 4 NY Will Exclusively Air, Stream Live Coverage Of The 262nd NYC St. Patrick's Day Parade
- Working Knowledge Acquires jLAN, a Direct Store Delivery software company
- Kemah Texas Event - Paranormal Horror Supernatural Book, Charon's Last Call, Release Announced
- Latest research shows Australians still not getting annual skin checks with a Health Professional
- Unfltrd Passion: The Custom Clothing Business That Is Revolutionizing Streetwear and Sneaker Fashion
- Veterans for Trump issues endorsements in Mississippi, Tennessee, and announces the launch of two new state chapters
- Ibadan Business School Goes Green, To Establish Africa's First Green University
- Patton Racks Up Another World-class VoIP Industry Certification with Zoom Phone System
- UKW Media Adds a Vibrant Touch during Women's History Month
Similar on EntSun
- Rewilding Ireland with Lord Dunsany and IrishTrees
- ShopCHARLI.com Launches Online Store With a Hot New Spring Collection that Doesn't Miss
- February 2023 Financial Market Review
- The Past Reflects A Future - Daniel Imperato 2024 Is Back Again. Which Party?
- The expansion continues at Right Cars Global Rentals as it officially announces its opening in the Dominican Republic
- The Official Drink Of Juneteenth Atlanta 2023
- DCA Virtual: Two Decades Since the SBA Has Been Reauthorized – Is This the Year?
- Arabella Hair Tax Refund Season Sale 2023: Get Free Wig
- Sip Social Co. Mobile Bar Rental Business Expands Into Additional U.S. Markets
- 10 reasons to hire a Wix Expert web designer to build a Wix Website
Western Alliance Bank Provides End of Week Update
EntSun News/10979189
PHOENIX ~ Western Alliance Bancorporation (NYSE: WAL) and its primary subsidiary, Western Alliance Bank, have issued a statement reaffirming their financial strength. As of March 16, 2023, the bank had immediately available liquidity of over $20 billion and insured deposits represented more than 55% of total deposits.
The bank highlighted two critical strengths that position it well in the current environment: a strong capital base and a diversified deposit base. Western Alliance Bank's CET1 ratio was 9.3% as of year-end 2022 and unrealized losses on its held-to-maturity and available-for-sale investment portfolios totaled $1.1 billion. The bank also serves a highly diverse national and regional commercial customer base, representing a broad range of industries, client types, and geographies. Deposits within the Technology & Innovation group, which has been disproportionally impacted by recent market turbulence, represented less than 8% of total deposits as of March 16th.
More on EntSun News
Kenneth A. Vecchione, President and CEO of Western Alliance Bank commented on the situation saying "We have a long history of financial stability and responsible, cautious risk management. These sound fundamentals have served us well over the past week." He also noted the message from banking agencies, government officials and industry leaders expressing their confidence in the banking system and commitment to protecting depositors at impacted institutions.
Western Alliance Bancorporation is one of the country's top-performing banking companies with more than $65 billion in assets. It offers clients a full spectrum of tailored banking solutions delivered by industry experts who put customers first. The company was ranked #1 top-performing large bank with assets greater than $50 billion in 2021 by both American Banker and Bank Director.
The bank highlighted two critical strengths that position it well in the current environment: a strong capital base and a diversified deposit base. Western Alliance Bank's CET1 ratio was 9.3% as of year-end 2022 and unrealized losses on its held-to-maturity and available-for-sale investment portfolios totaled $1.1 billion. The bank also serves a highly diverse national and regional commercial customer base, representing a broad range of industries, client types, and geographies. Deposits within the Technology & Innovation group, which has been disproportionally impacted by recent market turbulence, represented less than 8% of total deposits as of March 16th.
More on EntSun News
- World Sleep Day, why do we celebrate?
- HGR Alcohol Detox Centers in San Diego Accepts Most Health Insurances
- ShopCHARLI.com Launches Online Store With a Hot New Spring Collection that Doesn't Miss
- Little Shop of Horrors at Theatre School @ North Coast Rep
- 22 Salute Vodka 'With A Purpose'™ Wins Prestigious Double Gold Medal at Tag Global Spirits Awards
Kenneth A. Vecchione, President and CEO of Western Alliance Bank commented on the situation saying "We have a long history of financial stability and responsible, cautious risk management. These sound fundamentals have served us well over the past week." He also noted the message from banking agencies, government officials and industry leaders expressing their confidence in the banking system and commitment to protecting depositors at impacted institutions.
Western Alliance Bancorporation is one of the country's top-performing banking companies with more than $65 billion in assets. It offers clients a full spectrum of tailored banking solutions delivered by industry experts who put customers first. The company was ranked #1 top-performing large bank with assets greater than $50 billion in 2021 by both American Banker and Bank Director.
Filed Under: Business
0 Comments
Latest on EntSun News
- Zachary Levi, Christopher Lloyd, Star Trek Q&As Among Top FAN EXPO Cleveland Programming Panels
- Junetini Introduces The New Strawberry Cocktail Cooler for the Perfect Summer Sip
- Fridge Art Fair New York City May 2023
- Empowering SMEs: Innervation's Supply Chain Finance Solutions for Diverse Business Growth
- Award Winning Actress attaches to New Film
- Dialogue with Three Chords continues Season 12 with plays involving public-domain characters
- Actor Miles Berry attaches to new feature film
- AdvisorVault Partners With Compliant Workspace to Help FINRA Firms Achieve 17a-4 Compliance on Microsoft 365
- Experience Life in Exile With Summer Hill's Newest Release
- Actress Sophia Knolton attaches to Feature Film
- Netflix Announces Second Season of JRP Alum, Noah Centineo's Show 'The Recruit'
- Joseph Mason attaches to Red Box The Series
- Comedy Hypnotist The Incredible Boris performs at Boca Black Box Center for the Arts April 13, 2023
- The New Real Estate "Just Looking" Program Is A Big Hit With Atlanta Area Residents!
- Introducing Music360, the New Social Music Streaming App
- Comedian Don Barnhart Pushes Back On Cancel Culture With Las Vegas Residency
- Marsha Gay Reynolds Shares Insights on In-Home Care Post-Pandemic
- Smallville, Saved by the Bell Stars Plus Levi Next Celebrity Wave at FAN EXPO Philadelphia
- IOTech announces a new release of Edge Xrt, its high performance data connectivity solution for industrial systems
- New music by RnB Artist Darrell Ruger