Western Alliance Bancorporation (WAL) 2023年年度报告「NYSE」.pdf

1、ANNUAL REPORT 2023 DIVERSIFIED MODEL|DIVERSIFIED EARNINGS Being trusted advisors to our customers is our highest calling.Our mission is to help clients achieve success and fulfill their objectives in all economic and business environments.”Kenneth A.Vecchione President and Chief Executive Officer Di

2、versifiedModel.DiversifiedEarnings.Letter from President and Chief Executive Officer Kenneth A.Vecchione Dear Fellow Shareholders,While 2023 was an eventful year for the banking industry and for Western Alliance Bank,the past year highlighted the core strengths and distinct differentiators that enab

3、led us to not only successfully navigate the turmoil,but also to emerge as a better,even stronger company today and for the long term.3 So,How Did We Do It?Chiefly,our diversified business model proved uniquely agile as we steered through the changing environment.The banks that failed were monoline

4、companies,each with a very concentrated,interconnected client base.In sharp contrast,Western Alliances deliberate transformation of our business over more than a decade to become a national commercial bank focused on deep segment expertise,underwriting specialization and business diversification inc

5、luding a broad range of differentiated deposit-generating businesses drove our solid performance.Next,while few could have anticipated the speed and magnitude of the coming banking industry stress,we were early to recognize this challenge,having already pivoted to a deposit-centric strategy in the s

6、econd half of 2022.This prudent approach,coupled with our longstanding culture of disciplined credit underwriting and commitment to risk management,allowed us to fortify our balance sheet while continuing to deliver superior financial results.For the year,Western Alliance produced Net Revenue of$2.8