WAL Western Alliance Bancorporation (WAL) Q3 FY26 earnings call
Western Alliance made significant strides in Q3 FY26 against its strategic objectives of improving asset quality, lowering deposit costs, and accelerating share repurchases. The bank successfully reduced nonaccrual loans and optimized its deposit base, leading to NIM expansion and strong PPNR growth. Management remains focused on disciplined capital allocation and achieving medium-term profitability targets, while navigating typical Q4 seasonality and continued investments in growth initiatives.
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WAL operating KPIs by quarter
| KPI | Mar 2026 Q1 FY26 | Jun 2026 Q2 FY26 | This call Sep 2026 Q3 FY26 | Change vs prior quarter |
|---|---|---|---|---|
| Net interest margin | 3.54%In the first quarter, interest-bearing deposit costs declined 21 basis points, contributing to a 3 basis point quarterly increase in net interest margin to 3.54%.Source: earnings call transcript | 3.53%net interest margin was relatively stable, compressing 1 basis point from Q1 to 3.53% as the interest cost of earning assets declined 2 basis points, while the earning asset yield declined 3 basis points.Source: earnings call transcript | — | 0 pt |
| Common equity tier 1 ratio (CET1) | 11%This supported a stable CET1 ratio of 11% and ACL ratio of 87 basis points while compounding tangible book value per share, 13% year-over-year.Source: earnings call transcript | — | 10.9%Our CET1 ratio decreased 10 basis points from Q2 to 10.9%, reflecting loan growth and share repurchases while remaining above well-capitalized levels.Source: earnings call transcript | — |
| Return on tangible common equity (ROTCE) | — | 15.4%But the benefit here -- well, that will be to the benefit of a higher PPNR which will give us all the flexibility that we want going forward to our long-term goals of getting to a return on average tangible common equity of 16% to 17%, which, by the way, we were at 15.4% for this quarter.Source: earnings call transcript | 15.5%ROATCE increased 20 basis points from Q2 to 15.5%.Source: earnings call transcript | +0.1 pt |
Operating figures the company stated on at least two of the calls shown, checked against each call's transcript. Click a figure to read the sentence. A dash means it was not stated that quarter.
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