Western Alliance Bancorp's Deposit Decline Continues Amidst Banking Crisis Fallout.

Western Alliance Bancorporation reported an 11% decrease in deposits for Q1 2022, with total deposits at $47.6 billion as of March 31, down from $53.6 billion at the end of 2021. The drop in deposits was due to customers withdrawing funds after the collapse of two mid-sized U.S. lenders last month. The announcement helped the company's stock regain some lost ground before it closed 12% lower at $29.37. U.S. banks will kick off first-quarter earnings next week, with investors expected to watch their balance sheets closely for any signs of stress.