A key performance metric for the Company is its pre-tax, pre-provision operating earnings, which it defines as net operating revenue less its operating non-interest expense. For the first quarter 2012, the Company’s performance on this metric was $31.7 million, up from $31.5 million in the fourth quarter 2011 and $25.3 million in the first quarter 2011. 1The provision for credit losses remained flat at $13.1 million for the first quarter 2012 compared to the fourth quarter 2011. The provision for the first quarter of 2011 was $10.0 million. Net loan charge-offs in the first quarter 2012 were $14.1 million, or 1.18 percent of average loans (annualized), down from 1.24 percent of average loans (annualized) for the fourth quarter 2011. Net charge-offs for the first quarter 2011 were $14.6 million or 1.39% of average loans (annualized).
Western Alliance Reports First Quarter 2012 Net Income Of $11.3 Million, Or $0.12 Per Share
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