“I’d also like to welcome the customers of Service1st Bank of Nevada to our Company. Service1st Bank became part of Western Alliance with the close of our merger with Western Liberty Bancorp yesterday. We expect to merge Service1st into Bank of Nevada at the end of this month and complete the systems integration in December. This will give our new clients access to the larger branch network as well as other services offered by Bank of Nevada and its affiliates.”Ken Vecchione, President and Chief Operating Officer, added, “Our improved operating leverage from exceptional revenue growth and continued expense control took our efficiency ratio below 55% for the first time during the quarter. Although non-performing assets rose, we’re pleased with the lower charge-offs and other real estate losses incurred, which we believe reflect continued recovery in our primary markets. Record efficiency combined with lower credit costs enabled us to increase earnings per share to 18 cents, up 20% from the second quarter.”
Western Alliance Reports Third Quarter 2012 Net Income Of $15.5 Million, Or $0.18 Per Share, And Completion Of Acquisition Of Western Liberty Bancorp
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