Deposits Dip $849M, Nonaccrual Loans Jump $70M at Western Alliance
WAL sits 20% above its 52-week low of $65.815.
Summary
Western Alliance's Q2 filing reveals a $849 million (1%) sequential deposit decline to $81.90 billion, alongside a $70 million increase in nonaccrual loans to $562 million. This follows the earlier Q2 earnings release that highlighted EPS of $2.36 and strong loan growth, but omitted these balance-sheet details. The deposit outflow and rising credit stress add a cautious layer to an otherwise solid quarter, especially given the Q1 credit deterioration noted in the 10-Q. The nonaccrual loan increase of $135 million year-over-year signals ongoing asset quality pressure that traders will weigh against the earnings beat.
At the time of this announcement, WAL was trading at $79.00 on NYSE in the Finance sector, with a market capitalization of approximately $8.8B. The 52-week trading range was $65.82 to $97.23. This news item was assessed with negative market sentiment and an importance score of 7 out of 10. Source: Reuters.