Western Alliance Bancorp

Q3 FY2026 EarningsFY26 Q3 results beat consensus across most key financial metrics, with revenue of $1,014.2 million vs. $987.17 million expected and GAAP EPS of $2.45 vs. $2.43 expected. The beat was driven by a stronger Net Interest Margin (NIM) of 3.57% against a 3.54% mean forecast, supported by a successful deposit optimization strategy that transitioned out $3.0 billion in high-cost deposits. While asset quality improved with nonaccrual loans falling to 0.79%, Book Value per Share (BPS) of $68.14 missed the $70.88 consensus, impacted by unrealized fair value losses in the investment portfolio and active share repurchases.