Western Alliance Bancorporation Reports Unaudited Consolidated Earnings Results for the Fourth Quarter and Year Ended December 31, 2015
January 21, 2016 at 04:53 pm EST
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Western Alliance Bancorporation reported unaudited consolidated earnings results for the fourth quarter and year ended December 31, 2015. For the quarter, the company reported net interest income of $143,343,000 against $102,145,000 a year ago. Income from continuing operations before income taxes was $77,874,000 against $54,520,000 a year ago. Income from continuing operations was $58,526,000 against $40,409,000 a year ago. Net income was $58,526,000 against $40,409,000 a year ago. Diluted earnings per share from continuing operations were $0.57 against $0.46 per share a year ago. Diluted earnings per share available to common stockholders were $0.57 against $0.46 per share a year ago. Return on average assets was 1.67% against 1.56% a year ago. Return on average tangible common equity was 18.64% against 18.15% a year ago.
For the year, the company reported net interest income of $492,576,000 against $384,893,000 a year ago. Income from continuing operations before income taxes was $258,538,000 against $197,499,000 a year ago. Income from continuing operations was $194,244,000 against $149,109,000 a year ago. Net income was $194,244,000 against $147,951,000 a year ago. Diluted earnings per share from continuing operations were $2.03 against $1.69 per share a year ago. Diluted earnings per share available to common stockholders were $2.03 against $1.67 per share a year ago. Return on average assets was 1.56% against 1.50% a year ago. Return on average tangible common equity was 17.83% against 18.52% a year ago.
Western Alliance Bancorporation is a bank holding company. The Company provides a full spectrum of customized loan, deposit, and treasury management capabilities, including funds transfer and other digital payment offerings through its wholly owned banking subsidiary, Western Alliance Bank (WAB). WAB operates through five full-service banking divisions: Alliance Bank of Arizona, Bank of Nevada, Bridge Bank, First Independent Bank, and Torrey Pines Bank. The Company also provides a range of specialized financial services to business customers across the country, including mortgage banking services through AmeriHome and treasury management services to the homeowner's association sector, and digital payment services for the class action legal industry. It has two non-bank subsidiaries, such as CS Insurance Company (CSI) and Western Alliance Trust Company, N.A. (WATC). CSI is a captive insurance company. WATC provides corporate trust services and levered loan administration solutions.