This Day On The Street
Continue to site
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

Western Alliance Reports Fourth Quarter 2012 Net Income Of $32.1 Million, Or $0.37 Per Share; Full Year Net Income Of $72.8 Million, Or $0.83 Per Share

Operating non-interest income was $5.1 million for the fourth quarter 2012, a decrease from $5.4 million for the third quarter of 2012 and $5.6 million for the fourth quarter of 2011. 1

Net revenue was $82.5 million for the fourth quarter 2012, up from $77.3 million for the third quarter of 2012 and an increase of 11.0 percent from $74.3 million for the fourth quarter 2011. 1

Operating non-interest expense was $45.8 million for the fourth quarter 2012, compared to $43.9 million for the third quarter of 2012 and $42.8 million for the fourth quarter of 2011. 1 The Company’s operating efficiency ratio on a tax equivalent basis was 53.5 percent for the fourth quarter 2012, improved from 56.5 percent for the fourth quarter 2011. 1

The Company had 982 full-time equivalent employees December 31, 2012, compared to 942 one year ago.

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 fourth quarter 2012, the Company’s performance on this metric was $36.8 million, up from $33.4 million in the third quarter 2012 and $31.5 million in the fourth quarter 2011. 1

The provision for credit losses was $11.5 million for the fourth quarter 2012, compared to $8.9 million for the third quarter 2012. The provision for the fourth quarter of 2011 was $13.1 million. Net loan charge-offs in the fourth quarter 2012 were $13.5 million, or 0.99 percent of average loans (annualized), up from 0.70 percent of average loans (annualized) for the third quarter 2012. Net charge-offs for the fourth quarter 2011 were $14.1 million, or 1.24% of average loans (annualized).

Nonaccrual loans decreased $16.5 million to $104.7 million during the quarter. Loans past due 90 days and still accruing interest totaled $1.4 million at December 31, 2012, down from $1.7 million at September 30, 2012 and from $2.6 million at December 31, 2011. Loans past due 30-89 days, still accruing interest totaled $16.6 million at quarter end, up from $10.2 million at September 30, 2012 and from $13.7 million at December 31, 2011.

3 of 8

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
SYM TRADE IT LAST %CHG

Markets

DOW 18,080.14 +21.45 0.12%
S&P 500 2,117.69 +4.76 0.23%
NASDAQ 5,092.0850 +36.0220 0.71%

Partners Compare Online Brokers

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs