Western Alliance Bank (NYSE: WAL), in light of recent industry events, updates the following financial (unaudited) information:

• Deposits remain strong with the following balances, as of 3/9/2023:
  • Total deposits of $61.5 billion, an increase of $7.8 billion since year end, led by our deposit verticals of Settlement Services, Home Owner Associations and Mortgage Warehouse. The company expects deposits to moderately decline from these levels by quarter end due to typical seasonal and monthly activity
  • Total technology-related deposits of $6.5 billion, which are down $201 million quarter to date, as of 3/9/2023
  • Total Equity Fund Resources & Life Sciences deposits of $1.5 billion, which are up $118 million quarter to date, as of 3/9/2023

• Liquidity remains robust with available liquidity, as of 3/9/2023:
  • Cash held on balance sheet of approximately $2.5 billion, as of 3/9/2023
  • Fully collateralized credit facility from the Federal Home Loan Bank of San Francisco of $13.1 billion with a $0 balance, as of 3/9/2023
  • Uncommitted credit lines from various financial institutions of $4.6 billion with a $198 million balance, as of 3/9/2023
  • Fully collateralized credit facility from the Federal Reserve Bank of San Francisco of $5.2 billion with a $0 balance, as of 3/9/2023
  • Unpledged available for sale marketable securities of $5.3 billion with an adverse mark of $383 million already captured in Accumulated Other Comprehensive Income (AOCI), as of 2/28/2023, that could be liquidated or pledged to provide additional liquidity, if needed
  • Held to maturity securities of less than 2% of assets with an unrecognized adverse mark of only $192 million, as of 2/28/2023

• Capital remains strong with CET1 of 9.32%, as of 12/31/2022. We expect CET1 to continue to rise from year end levels to 9.5% or higher at first quarter end
• Asset quality remains excellent, and we have experienced no significant changes since year end, including classified assets, non-performing assets, and charge-offs
• Furthermore, Western Alliance affirms its full-year deposit growth guidance of 13% – 17%

About Western Alliance Bancorporation

With more than $65 billion in assets, Western Alliance Bancorporation (NYSE:WAL) is one of the country’s top-performing banking companies. Through its primary subsidiary, Western Alliance Bank, Member FDIC, business clients benefit from a full spectrum of tailored banking solutions and outstanding service delivered by industry experts who put customers first. Major accolades include being ranked #1 top-performing large bank with assets greater than $50 billion in 2021 by both American Banker and Bank Director. Serving clients across the country wherever business happens, Western Alliance Bank operates individual, full-service banking and financial brands with offices in key markets nationwide. For more information, visit westernalliancebank.com.

Cautionary Note Regarding Forward-Looking Statements

This release contains forward-looking statements that relate to expectations, beliefs, projections, future plans and strategies, anticipated events or trends and similar expressions concerning matters that are not historical facts. Examples of forward-looking statements include, among others, statements we make regarding our expectations with regard to our business, financial and operating results, including deposit balances and capital ratios, future economic performance and dividends. The forward-looking statements contained herein reflect our current views about future events and financial performance and are subject to risks, uncertainties, assumptions and changes in circumstances that may cause our actual results to differ significantly from historical results and those expressed in any forward-looking statement. Some factors that could cause actual results to differ materially from historical or expected results include, among others: the risk factors discussed in the Company’s Annual Report on Form 10-K for the year ended December 31, 2022, as filed with the Securities and Exchange Commission; the potential adverse effects of unusual and infrequently occurring events; changes in general economic conditions, either nationally or locally in the areas in which we conduct or will conduct our business; the impact on financial markets from geopolitical conflicts; inflation, interest rate, market and monetary fluctuations; increases in competitive pressures among financial institutions and businesses offering similar products and services; higher defaults on our loan portfolio than we expect; changes in management’s estimate of the adequacy of the allowance for credit losses; legislative or regulatory changes or changes in accounting principles, policies or guidelines; supervisory actions by regulatory agencies which may limit our ability to pursue certain growth opportunities, including expansion through acquisitions; additional regulatory requirements resulting from our continued growth; management’s estimates and projections of interest rates and interest rate policy; the execution of our business plan; and other factors affecting the financial services industry generally or the banking industry in particular.

Any forward-looking statement made by us in this release is based only on information currently available to us and speaks only as of the date on which it is made. We do not intend and disclaim any duty or obligation to update or revise any industry information or forward-looking statements, whether written or oral, that may be made from time to time, set forth in this press release to reflect new information, future events or otherwise.

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