Western Alliance posts Q2 net income $268.8M, diluted EPS $2.36; NIM 3.53%

Western Alliance reported second-quarter 2026 net income of $268.8 million and diluted earnings per share of $2.36, up 13.0% and 14.0% year-over-year, respectively. Net revenue totaled $995.7 million and pre-provision net revenue was $412.4 million for the quarter; the company recorded a provision for credit losses of $80.4 million and maintained a net interest margin of 3.53%. Tangible book value per share rose to $63.24 and total equity reached $8.1 billion at June 30, 2026.

Financial Highlights

• Net income: $268.8 million for Q2 2026 (up 13.0% year-over-year from $237.8 million).
• Diluted earnings per share: $2.36 for Q2 2026 (up 14.0% year-over-year from $2.07).
• Net revenue: $995.7 million in Q2 2026 (up 17.7% year-over-year from $845.9 million).
• Pre-provision net revenue (PPNR): $412.4 million for the quarter (up $81.2 million year-over-year from $331.2 million).
• Net interest margin: 3.53% in Q2 2026; provision for credit losses: $80.4 million; net loan charge-offs annualized: 0.37%.

Business Highlights

• Loan growth: Held-for-investment (HFI) loans increased to $60.9 billion, rising $1.8 billion (3.1%) sequentially, driven primarily by commercial and industrial loan growth.
• Deposit optimization: Total deposits were $81.9 billion with deliberate reduction of higher-cost balances as part of a deposit optimization strategy (down $849 million sequentially).
• Asset composition: Loans held for sale (HFS) increased to $4.3 billion, supported by growth in agency-conforming and government-insured mortgage loans.
• Capital and book value: Total equity grew to $8.1 billion; tangible book value per share (net of tax) increased to $63.24, reflecting retained earnings and share repurchases (1.6 million shares repurchased for $120.4 million since program inception).
• Asset quality trends: Special mention and classified accruing loans declined, nonaccrual loans and repossessed assets movements noted with classified assets improving year-over-year; allowance for credit losses to funded HFI loans was 0.89%.

Original SEC Filing: WESTERN ALLIANCE BANCORPORATION [ WAL ] - 8-K - Jul. 21, 2026