Ken Vecchione, President and Chief Operating Officer, added, “Our record revenue, coupled with improved efficiency, drove our pre-tax, pre-credit income to $32.1 million during the second quarter, a new high. 1 This quarter, REO valuations/losses declined to less than $1 million as some properties in our REO portfolio experienced increases in appraised values. Offsetting the good news this quarter, charge-offs and the provision for loan losses remained flat to the prior quarter. Nevada asset quality has not exhibited the same rate of improvement as California or Arizona.”Western Alliance Bancorporation reported net income of $14.0 million, or $0.15 per share, in the second quarter 2012 including a $0.6 million after-tax charge from repossessed assets valuations/sales and a $1.1 million after tax gain from securities sales.
Western Alliance Reports Second Quarter 2012 Net Income Of $14.0 Million, Or $0.15 Per Share
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