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Western Alliance Bancorporation

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finance2 years ago•0 min saved

Regional bank stocks surge on positive updates from Western Alliance (NYSE:WAL)

Regional bank stocks, including Western Alliance Bancorporation, PacWest Bancorp, and Metropolitan Bank Holding, rose in premarket trading after Western Alliance reported a $2B increase in deposits since the start of Q2, reaffirming the bank's deposit stability. Jefferies analyst Casey Haire believes the update demonstrates Western Alliance is distancing itself from recent industry turmoil and should be well received by the market. Other larger regional bank stocks also advanced.

via Seeking Alpha|

#deposits #finance #pre-market-trading

finance2 years ago•1 min saved

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.

via Reuters|

#deposits #federal-reserve #finance