2024-01-26 16:18:05 ET
Western Alliance Bancorporation (WAL)
Q4 2023 Earnings Conference Call
January 26, 2024 12:00 PM ET
Company Participants
Miles Pondelik - Director of Investor Relations and Corporate Development
Ken Vecchione - President and Chief Executive Officer
Dale Gibbons - Chief Financial Officer
Tim Bruckner - Chief Banking Officer
Conference Call Participants
Casey Haire - Jefferies
Steven Alexopoulos - J.P. Morgan
Ebrahim Poonawala - Bank of America
Matthew Clark - Piper Sandler
Chris McGratty - KBW
Bernard von-Gizycki - Deutsche Bank
Ben Gerlinger - Citi
Brody Preston - UBS
Andrew Terrell - Stephens
David Smith - Autonomous
Presentation
Operator
Good day, everyone. Welcome to Western Alliance Bancorporation's Fourth Quarter 2023 Earnings Call. You may also view the presentation today via webcast through the Company's website at www.westernalliancebancorporation.com.
I would now like to turn the call over to Miles Pondelik, Director of Investor Relations and Corporate Development. Please go ahead.
Miles Pondelik
Thank you, and welcome to Western Alliance Bank's fourth quarter 2023 conference call. Our speakers today are Ken Vecchione, President and Chief Executive Officer; Dale Gibbons, Chief Financial Officer; and Tim Bruckner, Chief Banking Officer will join for Q&A.
Before I hand the call over to Ken, please note that today's presentation contains forward-looking statements which are subject to risks, uncertainties, and assumptions. Except as required by law, the Company does not undertake any obligation to update any forward-looking statements. For more complete discussion of the risks and uncertainties that cause the actual results to differ materially from any forward-looking statements, please refer to the Company's SEC filings, including the Form 8-K filed yesterday, which are available on the Company's website.
Now, for opening remarks, I'd like to turn the call over to Ken Vecchione.
Ken Vecchione
Thank you, Miles, and good morning, everyone. I'll make some brief comments about our fourth quarter and full year 2023 earnings before turning the call over to Dale, who will review our financial results in more detail. After I discuss our 2024 outlook, Tim Bruckner will join us as usual for Q&A.
Western Alliance's diversified national commercial business strategy continued to drive strong momentum in the fourth quarter, as we generated earnings per share of $1.33 or $1.91 excluding $0.58 of one-time notable items. The quarter featured both healthy balance sheet growth, and additional balance sheet repositioning actions to further optimize our funding base.
Looking past these notable items which Dale will explain shortly, highlights for the quarter included solid loan and deposit growth, ongoing capital and liquidity accumulation, and continued stable asset quality. Deposit growth of $1 billion allowed us to continue to selectively reduce debt and borrowings. In Q4, we fully repaid $1.3 billion of advances from the Bank Term Funding Program, as well as a $300 million 6.5% AmeriHome Senior Notes, which were not replaced with new borrowings....
Read the full article on Seeking Alpha
For further details see:
Western Alliance Bancorporation (WAL) Q4 2023 Earnings Call Transcript