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Western Alliance Bank, a subsidiary of Western Alliance Bancorporation, is one of the largest banks in the U.S. and is renowned for its commercial banking solutions.
Western Alliance’s CEO told analysts Wednesday that his bank had proved it was now in a different category than First Republic. "There was a point where whatever happened to them affected us ...
PacWest ended Tuesday down 28%, while Western Alliance dropped 15%. Other regional banks also plummeted, including Zions ( ZION ), Comerica ( CMA ) and Key ( KEY ), which all fell between 9-12%.
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The bank was founded in 1994 in Las Vegas, Nevada. [1] [4] In 2010, it moved its headquarters to Phoenix, Arizona. [5] In October 2012, it acquired Western Liberty Bancorp for $55 million. [6] In April 2021, the company acquired AmeriHome for $1.22 billion. [7]
Shares of Western Alliance rose about 5.5% during the second quarter, while Huntington stock fell about 2% and PacWest dropped 13%, a move that came before the company's merger announcement.
COI disclosure: I am an external contractor to Western Alliance Bancorporation's corporate communications/marketing department. Western Alliance Bancorporation is a regional bank holding company headquartered in Phoenix. It is on the list of largest banks in the United States and is ranked 42nd on the Forbes list of America's Best Banks. [1]