Western Alliance (WAL) Q2 2025 Earnings Transcript

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Friday, July 18, 2025 astatine 12 p.m. ET

• Chief Executive Officer — Kenneth A. Vecchione

• Chief Financial Officer — Dale M. Gibbons

• Chief Banking Officer, Regional Banking — Timothy R. Bruckner

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Kenneth A. Vecchione: Thanks, Miles. Good afternoon, everyone. I'll marque immoderate little comments astir our 2nd 4th show earlier handing the telephone implicit to Dale to sermon our fiscal results and drivers successful much detail. I'll past adjacent with immoderate prepared remarks by reviewing our updated 2025 outlook. Our Chief Banking Officer for Regional Banking, Tim Bruckner volition past articulation america for Q&A. But earlier diving into my prepared comments, I'd similar to instrumentality a infinitesimal to code a planned CFO succession announcement. Dale has been an outstanding CFO for Western Alliance for an awesome 22 years, which is much than 5x longer the mean CFO tenure.

Throughout his tenure, Dale has been an instrumental person guiding the slope done some prosperous and challenging times. His unwavering dedication and availability astatine each hours of the time person made him an invaluable spouse and person to the elder absorption team. After the caller year, Dale volition modulation his CFO responsibilities to Vishal pursuing a thorough modulation period. In his caller relation arsenic Chief Banking Officer of Deposit Initiatives and Innovation, Dale volition oversee 6 stand-alone deposit verticals, which make beardown liquidity. His contributions to the institution are excessively galore to list, but his accomplishment and enactment were peculiarly evident during my lack astatine the opening of the year.

The Board, the absorption squad and I are precise excited to spot him thrive successful his caller enactment role. Someone should walk the tissues implicit to Dale. Vishal volition articulation america aboriginal successful the 4th quarter, and aft a 90-day modulation period, helium volition presume the CFO responsibilities. Vishal has been a trusted advisor to the institution and knows the slope precise well. Over the past 8 years, I person developed a beardown nonrecreational narration with him, and I'm looking guardant to fostering the aforesaid concern I person had with Dale. Just consciousness escaped to scope retired to some Dale and Vishal to congratulate them connected their caller assignments erstwhile you person a moment. Okay.

Let's get to the fiscal highlights successful the quarter. Western Alliance again delivered beardown fiscal results, exceeding expectations successful the 2nd 4th arsenic beardown concern momentum drove a meaningful acceleration crossed a wide array of fiscal metrics. Sustained occurrence successful acquiring caller lawsuit relationships, supported by our heavy assemblage expertise fueled beardown risk-adjusted equilibrium expanse growth, robust nett involvement income enlargement and enhanced profitability, which resulted successful continued net growth. We generated implicit $1 cardinal of sequential indebtedness maturation for the 2nd consecutive quarter, which was funded by astir $2 cardinal of quarterly deposit growth.