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Western Alliance Bancorporation
Western Alliance Bancorporation (WAL) investor relations material
Western Alliance Bancorporation Q4 2025 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Q4 2025 earnings summary27 Jan, 2026
Executive summary
Achieved record net income of $293.2 million in Q4 2025, up 35.2% year-over-year, and full-year net income of $990.6 million, with EPS of $2.59 for Q4 and $8.73 for the year, both showing strong annual growth.
Loan and deposit growth remained robust, with total loans up 9.3% and deposits up 16.3% year-over-year.
Tangible book value per share increased 17.3% year-over-year to $61.29.
Net interest income, net revenue, and pre-provision net revenue reached all-time highs in Q4 and full year, supported by stable asset quality and operating leverage.
Fee income rose sharply, driven by treasury management, digital disbursements, and mortgage banking, with notable contributions from the Facebook Cambridge Analytica settlement.
Financial highlights
Net revenue for Q4 2025 was $980.9 million, up 17% year-over-year; full-year net revenue was $3.5 billion, up 12%.
Net interest income for Q4 2025 was $766.2 million, up 15% year-over-year; full-year net interest income was $2.86 billion, up 9.4%.
Pre-provision net revenue for Q4 2025 was $428.7 million, up 34.2% year-over-year; full-year PPNR was $1.4 billion, up 25.9%.
Efficiency ratio improved to 55.7% in Q4 2025 (46.5% adjusted), down five points year-over-year.
Non-interest income for Q4 was $214.7 million, up 24.9% year-over-year; full-year non-interest income was $678.2 million, up 24.9%.
Outlook and guidance
2026 guidance includes $6 billion in loan growth and $8 billion in deposit growth, with continued focus on organic expansion.
Net interest income expected to grow 11%-14%, assuming two 25bp rate cuts; non-interest income to rise 2%-4%.
Non-interest expenses projected to increase 2%-7%, with deposit costs expected to decline to $535-$585 million.
Net charge-offs forecasted at 25-35bps, with allowance for credit losses expected to drift into the low 80bps.
CET1 ratio to be maintained around 11%; opportunistic share repurchases to continue as market conditions allow.
What drove Q4 NIM decline despite lower deposit costs?
What is the strategy for non-interest bearing deposits?
Why did provision for credit losses decrease Q4?
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Next Western Alliance Bancorporation earnings date
Q1 202621 Apr, 2026
Western Alliance Bancorporation
Next Western Alliance Bancorporation earnings date
Q1 202621 Apr, 2026
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Frequently asked questions
Western Alliance Bancorporation is a bank holding company that provides commercial banking, treasury management, and real estate lending services. It serves businesses, entrepreneurs, and professionals across several U.S. markets. The company is headquartered in Phoenix, Arizona, and its shares are listed on the NYSE.
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