PHOENIX (AP) — PHOENIX (AP) — Western Alliance Bancorp (WAL) on Tuesday reported first-quarter net income of $182.1 million.
The Phoenix-based bank said it had earnings of $1.65 per share. Earnings, adjusted for non-recurring costs, were $2.22 per share.
The results beat Wall Street expectations. The average estimate of seven analysts surveyed by Zacks Investment Research was for earnings of $1.48 per share.
The bank holding company posted revenue of $1.44 billion in the period. Its revenue net of interest expense was $1.03 billion, also exceeding Street forecasts.
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