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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

Non-interest bearing deposits decreased $1.3 million at September 30, 2012 from June 30, 2012 and increased $322 million from $1.52 billion at September 30, 2011. Non-interest bearing deposits comprised 29.9 percent of total deposits at September 30, 2012, compared to 27.0 percent a year ago.

At September 30, 2012, the Company’s loans were 86.5 percent of deposits compared to 86.1 percent at June 30, 2012 and 80.4 percent at September 30, 2011.

Stockholders’ equity at September 30, 2012 increased to $698.0 million from $672.1 million at June 30, 2012. At September 30, 2012, tangible common equity was 7.2 percent of tangible assets 1 and total risk-based capital was 12.3 percent of risk-weighted assets.

Total assets increased to $7.40 billion at September 30, 2012 from $7.16 billion at June 30, 2012 and increased 13.0 percent from $6.55 billion at September 30, 2011.

Operating Unit Highlights

Bank of Nevada reported that loans increased by $59 million during the third quarter of 2012, and increased $209 million during the last 12 months to $2.06 billion at September 30, 2012. Deposits decreased by $22 million in the third quarter of 2012 and $58 million over the last twelve months to $2.41 billion. Net income for Bank of Nevada was $5.8 million for the third quarter 2012, compared with net income of $3.8 million for the second quarter of 2012 and net income of $1.7 million during the third quarter 2011.

Western Alliance Bank (doing business as Alliance Bank of Arizona and First Independent Bank) reported loan growth of $88 million during the third quarter 2012 and $387 million during the last 12 months to $1.87 billion. Deposits increased $152 million in the third quarter and $382 million during the last 12 months to $2.15 billion. Net income for Western Alliance Bank was $8.8 million during the third quarter 2012 compared with net income of $7.8 million during the second quarter of 2012 and net income of $5.5 million during the third quarter 2011.

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