Western Alliance Bank Faces Rating Watch Negative and Stock Instability

Western Alliance Bank, a subsidiary of Western Alliance Bancorporation, reaffirmed its financial strength with over $20 billion in immediately available liquidity as of March 16, 2023. The bank experienced elevated net deposit outflows on March 13, primarily in its Technology & Innovation group, but net outflows have since fallen sharply. The bank highlighted its strong capital base and diversified deposit base as critical strengths that position it well in the current environment. Western Alliance Bank serves a highly diverse national and regional commercial customer base, representing a broad range of industries, client types, and geographies.