Western Alliance Bancorporation (NYSE:WAL) and Western Liberty Bancorp (NASDAQ:WLBC), referred to herein as Western Alliance and Western Liberty, announced today that Western Alliance has received regulatory approvals to proceed with the merger of Western Liberty with and into Western Alliance, with Western Alliance surviving. Western Alliance and Western Liberty intend to consummate the merger as soon as practicable following the satisfaction of all closing conditions, including the receipt of stockholder approval by Western Liberty. The merger is to be voted on by Western Liberty’s stockholders at a special meeting of Western Liberty stockholders scheduled for 10:00 a.m., local time, on October 17, 2012 at Western Liberty’s principal executive offices at 8363 W. Sunset Road, Suite 350, Las Vegas, NV 89113.
About Western Alliance Bancorporation
With $7.2 billion in assets, Western Alliance Bancorporation is the parent company of Bank of Nevada, Western Alliance Bank doing business as Alliance Bank of Arizona and First Independent Bank, Torrey Pines Bank, and Shine Investment Advisory Services. These dynamic organizations provide a broad array of deposit and credit services to clients in Nevada, Arizona and California, and investment services in Colorado. Staffed with experienced financial professionals, these organizations deliver a broader product array and larger credit capacity than community banks, yet are empowered to be more responsive to customers' needs than larger institutions. Additional investor information can be accessed on the Investor Relations page of the company's website, www.westernalliancebancorp.com.
About Western Liberty BancorpWith $199 million in assets, Western Liberty Bancorp is a Nevada bank holding company which conducts operations through Service1st Bank of Nevada, its wholly owned banking subsidiary, and Las Vegas Sunset Properties. Service1st Bank operates as a traditional community bank and provides a full range of deposit, lending and other banking services to locally owned businesses, professional firms, individuals and other customers from its headquarters and two retail banking facilities located in the greater Las Vegas area. Services provided include basic commercial and consumer depository services, commercial working capital and equipment loans, commercial real estate loans, and other traditional commercial banking services. Primarily all of the bank’s business is generated in the Nevada market.