Western Alliance Bancorporation, through its subsidiaries, operates as a multi-bank holding company. The company provides full service banking and lending to locally owned businesses, professional firms, real estate developers and investors, local non-profit organizations, high net worth individuals, and other consumers. The company’s subsidiaries include WAB Consolidated, doing business as Alliance Bank of Arizona in Arizona, First Independent Bank in Northern Nevada, Bank of Nevada in Southern Nevada, and Torrey Pines Bank in California. In addition, the company has two non-bank subsidiaries, such as Western Alliance Equipment Finance, which offers equipment leasing nationwide; and Las Vegas Sunset Properties, which holds certain loans and Other Real Estate Owned. Lending Activities The company, through its banking divisions and non-bank subsidiaries, provides various financial services to customers, including commercial real estate (CRE) loans, construction and land development loans, commercial loans, and consumer loans. Commercial and Industrial: Commercial and industrial loans include working capital lines of credit, inventory and accounts receivable lines, mortgage warehouse lines, equipment loans and leases, and other commercial loans. Loans to tax exempt municipalities and not-for-profit organizations are categorized as commercial loans. CRE: Loans to finance the purchase or refinancing of CRE and loans to finance inventory and working capital that are additionally secured by CRE make up the majority of the company’s loan portfolio. These CRE loans are secured by apartment buildings, professional offices, industrial facilities, retail centers, and other commercial properties. Owner-occupied CRE loans are loans secured by owner-occupied nonfarm nonresidential properties for which the primary source of repayment (approximately 50%) is the cash flow from the ongoing operations and activities conducted by the borrower who owns the property. Non-owner-occupied CRE loans are CRE loans for which the primary source of repayment is nonaffiliated rental income associated with the collateral property. Construction and Land Development: Construction and land development loans include multi-family apartment projects, industrial/warehouse properties, office buildings, retail centers, and medical facilities. Consumer: Consumer loans are offered to meet customer demand and to respond to community needs. Consumer loans are offered at a higher rate and shorter term than residential mortgages. The company’s consumer loans include home equity loans and lines of credit, home improvement loans, and personal lines of credit. Investment Activities As of December 31, 2013, the company’s investment portfolio included U.S. government sponsored agency securities; municipal obligations; preferred stock; mutual funds; residential mortgage-backed securities issued by government-sponsored enterprises; private label residential mortgage-backed securities; private label commercial mortgage-backed securities; trust preferred securities; the Community Reinvestment Act investments; collateralized debt obligations; and corporate debt securities. Deposit Products The company offers various deposit products, including checking accounts, savings accounts, money market accounts, and other types of deposit accounts, including fixed-rate, fixed maturity retail certificates of deposit. Other Products In addition to traditional commercial banking activities, the company offers other financial services to customers, including Internet banking, wire transfers, electronic bill payment, lock box services, courier, and cash management services. Foreign Operations The company provides loans, letters of credit, and other trade-related services to commercial enterprises that conduct business outside the U.S.
western alliance bancorp (WAL:New York)
One East Washington Street
Phoenix, AZ 85004
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