Western Alliance Bancorporation (WAL) investor relations material

Strategic vision and business model

• Focus on disciplined organic growth, purposeful diversification, and continuous innovation to drive durable earnings and returns, targeting national expansion without reliance on acquisitions, and scaling a national commercial banking platform anchored in specialized verticals.

• S-curve strategy underpins growth, launching and scaling new specialty verticals in both deposits and lending, with sector expertise and technology integration, enabling repeatable expansion in underserved markets.

• Diversified business lines include commercial banking, AmeriHome mortgage platform, and corporate trust, each contributing to earnings stability and resilience across cycles.

• Technology investment has increased by 90% since 2022, supporting digital platforms, advanced payment capabilities, and AI-driven productivity, with a branch-lite, scalable infrastructure and 100% of business applications in the cloud by 2026.

• Leadership team and board bring deep sector expertise, with ongoing succession planning and leadership development to ensure continuity and governance.

Financial performance and guidance

• Achieved $99 billion in assets as of March 31, 2026, with 15.3%–15% return on average tangible common equity and 1.12% return on average assets; 2025 saw 23% year-over-year EPS growth, 9.3% loan growth, and a 50% adjusted efficiency ratio.

• 10-year tangible book value per share CAGR of 17%, with total shareholder return outperforming peers by over 3.4x over 15 years.

• Medium-term targets include 16%-17% return on average tangible common equity, 1.2%-1.3% return on average assets, and an adjusted efficiency ratio of ~48%.

• 2026 outlook projects $6 billion HFI loan growth, $8 billion deposit growth, 11%–14% loan growth, 20%–25% non-interest income growth, and 7%–11% non-interest expense growth, with CET1 capital ratio targeted at ~11%.

• Capital ratios are strong, with CET1 at 11% and total capital at 14.4%, supported by $2 billion in excess capital and over $40 billion in liquidity.

Deposit and lending initiatives / Business segment highlights

• Deposit initiatives represent 37% of total deposits, growing three times faster than the bank overall, and contribute 51% of fee income, with cost under 2%; HOA banking, Juris banking, and digital asset group are leading verticals.

• Commercial banking is the largest lending component, representing 60% of loans and 31% of deposits, with specialization, technology, and cross-sell in industries where the bank has strategic differentiators.

• Mortgage banking (AmeriHome) provides counter-cyclical earnings, scalability, and a balanced business model, with $58 billion in production volume and $78 billion MSR portfolio.

• Lender finance and corporate trust segments offer diversified, low-risk, and structurally protected lending, with strong fee growth and minimal charge-offs.

• Innovation banking and sponsor finance serve over 1,800 client relationships, focusing on revenue-validated borrowers and strong sponsor profiles.