PHOENIX (AP) — PHOENIX (AP) — Western Alliance Bancorp (WAL) on Tuesday reported second-quarter net income of $261.7 million.
The Phoenix-based bank said it had earnings of $2.36 per share. Earnings, adjusted for non-recurring gains, came to $2.22 per share.
The results fell short of Wall Street expectations. The average estimate of six analysts surveyed by Zacks Investment Research was for earnings of $2.33 per share.
The bank holding company posted revenue of $1.43 billion in the period. Its revenue net of interest expense was $1.01 billion, surpassing Street forecasts.
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