The Bank Slate


Western Alliance in Phoenix still adding deposits

Western Alliance Bancorp. in Phoenix continues to bounce back from a turbulent time in the wake of high-profile bank failures.

The $71 billion-asset company said in an investor presentation that it has added more than $2 billion of deposits in the second quarter, with $49.6 billion on its balance sheet. That represents a roughly 4% increase.

Western Alliance also noted that about 79% of its deposits are insured, an improvement from 68% at the end of March.

The tangible common equity ratio has ticked up from 6.5% on March 31 to 6.7% at the end of April, a result of asset sales. The company said it is on track to sell about half of the $6 billion of loans it moved to held-for-sale status in the first quarter.

Finally, on-balance sheet cash has increased by 37% since the end of the first quarter, to $2.6 billion.

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