Western Alliance Bank today issued the following update reaffirming its financial strength including updates on our deposit growth, in response to recent industry events. The Bank’s key financial metrics reinforce our strength, soundness, and stability. - The Bank has not experienced unusual deposit flows following the sale of First Republic Bank and other recent industry news. Total Deposits were $48.8 billion as of Tuesday, May 2, up from $48.2 billion as of Monday, May 1, and flat to Friday, April 28. Quarter to date, deposits are up $1.2 billion from $47.6 billion as of March 31. - As of May 2, insured deposits represent over 74% of total deposits, including reciprocal, collateralized, and deposits eligible for “pass-through” deposit insurance. Of our 20 largest deposit relationships, over 88% of these deposits are insured. Liquidity coverage of uninsured deposits from on-balance sheet liquidity and available borrowing capacity was approximately 165%. Click to read more https://bit.ly/42rNptb
This is reassuring Susan Wadi. Wish more people would follow your lead.
Oh…
Well done!
Executive Director - Investments at Oppenheimer & Co. Inc. Captive Insurance Asset Management Advisor
1yWestern Alliance should not only be commended for how they run their bank, but also for their transparency in a market plagued by nefarious short sellers creating—and spreading—patently false information!