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 second quarter 2012, the Company’s performance on this metric was $32.1 million, up from $31.7 million in the first quarter 2012 and $27.6 million in the second quarter 2011. 1The provision for credit losses was $13.3 million for the second quarter 2012 compared to $13.1 million for the first quarter 2012. The provision for the second quarter of 2011 was $11.9 million. Net loan charge-offs in the second quarter 2012 were $13.9 million, or 1.11 percent of average loans (annualized), down from 1.18 percent of average loans (annualized) for the first quarter 2012. Net charge-offs for the second quarter 2011 were $13.6 million or 1.26% of average loans (annualized).
Western Alliance Reports Second Quarter 2012 Net Income Of $14.0 Million, Or $0.15 Per Share
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