This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
TheStreet Open House

Western Alliance Reports Third Quarter 2011 Earnings Of $13.0 Million

Stock quotes in this article: WAL

Nonaccrual loans and repossessed assets remained flat at $200.4 million or 3.1 percent of total assets at September 30, 2011, compared to the second quarter 2011 and decreased from $241 million or 3.9 percent of total assets at September 30, 2010. Loans past due 90 days and still accruing totaled $2.1 million at September 30, 2011, up from $1.1 million at June 30, 2011 and down from $5.7 million at September 30, 2010. Loans past due 30-89 days totaled $12.4 million at quarter end, up slightly from $11.6 million at June 30, 2011 and down from $20.4 million at September 30, 2010.

Classified assets to Tier I capital plus allowance for credit losses, a common regulatory measure of asset quality, improved to 42 percent at September 30, 2011 from 57 percent at September 30, 2010. 1

Net loss on sales and valuation of repossessed assets (primarily other real estate) was $2.1 million for the third quarter 2011 compared to $8.6 million in the prior quarter. At September 30, 2011, other repossessed assets were valued at $87 million compared to $86 million at June 30, 2011 and $110 million one year ago.

Balance Sheet

Gross loans totaled $4.53 billion at September 30, 2011, an increase of $115 million from June 30, 2011 and an increase of $353 million from $4.17 billion at September 30, 2010. At September 30, 2011 the allowance for credit losses was 2.21 percent of total loans down from 2.37 percent at June 30, 2011 and 2.59 percent at September 30, 2010.

Deposits totaled $5.63 billion at September 30, 2011, an increase of $45 million from $5.59 billion at June 30, 2011 and an increase of $304 million from $5.33 billion at September 30, 2010.

Non-interest bearing deposits increased slightly at September 30, 2011 from June 30, 2011 and increased $97.3 million from $1.42 billion at September 30, 2010. Non-interest bearing deposits comprised 27.0 percent of total deposits at September 30, 2011, compared to 26.7 percent a year ago.

4 of 8

Select the service that is right for you!

COMPARE ALL SERVICES
Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
DOW 17,042.90 -28.32 -0.17%
S&P 500 1,972.29 -5.51 -0.28%
NASDAQ 4,493.39 -12.4620 -0.28%

Brokerage Partners

Rates from Bankrate.com

  • Mortgage
  • Credit Cards
  • Auto

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs