Western Alliance Bancorporation Annual Report 2013

Plain-text annual report

Overview 2014 One East Washington Street Phoenix, AZ 85004 (602) 389-3500 westernalliancebancorp.com Alliance Bank of Arizona, Bank of Nevada, First Independent Bank and Torrey Pines Bank are divisions of Western Alliance Bank. Member FDIC. Western Alliance Bank and Western Alliance Equipment Finance are subsidiaries of Western Alliance Bancorporation. ©2014 Western Alliance Bancorporation 03/14 Western Alliance Bancorporation Condensed Consolidated Statement of Income (Unaudited) ($ in thousands, except per share amounts) 2013 2012 2011 Interest Income $ 362,655 $ 318,295 $ 296,591 Interest Expense Net Interest Income Loan Loss Provision Net Interest Income After Provision Non Interest Income (29,760) 332,895 (13,220) 319,675 17,229 (28,032) 290,263 (46,844) 243,419 44,726 Non Interest Expense (196,266) (188,860) Income Before Income Tax Income Tax Net Income From Continuing Operations Discontinued operations 140,638 (25,254) 115,384 (861) 99,285 (23,961) 75,324 (2,490) (38,923) 257,668 (46,188) 211,480 34,457 (195,598) 50,339 (16,849) 33,490 (1,996) Net Income $ 114,523 $ 72,834 $ 31,494 Less Dividends And Accretion On Preferred Stock (1,410) (3,793) (16,206) Net Income Available To Common Shareholders $ 113,113 $ 69,041 $ 15,288 Weighted Average Common Shares Outstanding (diluted) 86,541 82,912 Earnings Per Share Applicable to Common Shareholders $ 1.31 $ 0.83 $ 81,183 0.19 Our goal is to provide “best in class” personalized, value-added banking services to our customers and to help facilitate growth in our local economies. We are one of the few banks in the country our size that has consistently grown lending during both good and bad economic times. We pride ourselves in the long-lasting personal relationships we have forged with our clients. We remain committed to being the premier banking option for business. Condensed Consolidated Balance Sheet (Unaudited) ($ in thousands) Assets Cash Securities Loans 2013 2012 2011 $ 306,000 $ 205,000 $ 155,000 1,690,000 6,801,000 1,268,000 5,709,000 (95,000) 5,614,000 536,000 1,524,000 4,780,000 (99,000) 4,681,000 485,000 Allowance for Loan and Lease Losses (100,000) Net Loans 6,701,000 Other Assets 610,000 Total Assets $ 9,307,000 $ 7,623,000 $ 6,845,000 Liabilities and Equity Deposits $ 7,838,000 $ 6,455,000 $ 5,659,000 Borrowings Other Liabilities 455,000 159,000 309,000 99,000 514,000 35,000 Total Liabilities $ 8,452,000 $ 6,863,000 $ 6,208,000 Shareholders’ Equity 855,000 760,000 637,000 Total Liabilities and Shareholders’ Equity $ 9,307,000 $ 7,623,000 $ 6,845,000 1 Dear Clients, Shareholders and Friends of Western Alliance, Simply put, 2013 was an outstanding year for Western Alliance Bancorporation. We delivered record revenue, net income, return on assets, and loan and deposit growth. The underlying foundation to our exceptional growth is our commitment to our clients and our ability to attract and retain the best and most talented bankers. Our theme of “Where business gets done” is centered on eliminating bureaucracy and having executive management engaged in helping to manage customer relationships. While most banks focus either on growth OR earnings, we were able execute on both as we gained market share AND grew earnings. For the year, WAL ranked in the top quartile of our peers in all key measurements of return on assets, net interest margin, efﬁciency ratio, loan growth, and deposit growth. More speciﬁcally, net income grew from $72.8 million to $114.5 million in 2013, resulting in an increase in earnings per share from $.83 to $1.31. During the year, we generated $2.2 billion in loans that resulted in loan growth of $1.1 billion and loans outstanding at year end of $6.8 billion. Our deposits expanded by $1.4 billion to $7.8 billion. We maintained our strong Capital position ending 2013 with Tier One Leverage and Total Capital ratios of 9.8% and 12.4% respectively. Our disciplined approach to lending, along with improving economic trends in our primary markets, resulted in continued loan quality improvements. During 2013, the ratio of non-performing assets declined by 40% to 1.5% of total assets. The ratio of net loan losses for the year declined by 85% from 2012 to just .14% of average loans. All of these results translated into value to our customers and the communities we serve, as well as an outstanding return to our shareholders. 2 WAL is well positioned for future growth and success. We enter 2014 with strong momentum in all facets of our business. Our plans for the year anchor around the following key initiatives: n Continue organic expansion in our core banking markets and in our national business lines. n Pursue strategic expansion through acquisition in new product lines and select Western markets. n Invest in technology to improve our products and services to our clients and our operating efﬁciency. n Continue to strengthen our risk management processes which are key to everything we do for our clients. Part of being a great bank is making a difference in the communities we serve. Not only do we strive to be a trusted resource for lending funds to businesses, which in turn fuel both economic and job growth, but our 1,052 employees are committed to helping those less fortunate. Last year, we volunteered and provided funds to over 200 community organizations. We also lead in ﬁnancing businesses and development projects in low to moderate income area neighborhoods. Our Board of Directors oversees how we manage our business and ensures we operate with proper corporate governance. They do a great job. Our customers are why we come to work every day. We appreciate your business and look forward to continuing to work hard to add value for you. And ﬁnally, I wish to thank our loyal and dedicated employees because you are the face of this bank and the key ingredient in the outstanding level of service we provide to our clients. Robert Sarver Chairman and Chief Executive Ofﬁcer 3 Loan Originations and Year End Loans, 2011-2013 $ in millions Shareholder Performance Year End Loans Return on Tangible Common Equity Loan Originations $6,801 $2,267 $5,709 $1,817 $4,780 $1,132 2011 3.8% 2012 2013 14.3% 17.7% At 12/31/13, the value of $10,000 investment in WAL compared to S&P 500 and KBW Regional Banking Index If invested WAL S&P 500 KBW Regional Banking Index One year ago $22,659 $13,239 $14,630 2011 2012 2013 2011 2012 2013 Three years ago $32,418 $15,682 $15,696 Western Alliance is one of the fastest growing banks in the nation, ranking 70th in total assets among all publicly-held banking companies. Deposits, Three Year Change $ in billions Nevada $2.76B California $1.45B Other States $0.24B Arizona $0.89B 2010 $5.34B Nevada $2.99B California $2.12B Other States $1.13B Arizona $1.60B 2013 $7.84B 4 Total Capital $ in thousands 12/31/2013 Total Capital $723,327 $148,345 Additional Capital $574,982 Well Capitalized 10% Total Capital $856,199 $176,482 Additional Capital $679,717 Well Capitalized 10% Total Capital $991,461 $189,811 Additional Capital $801,650 Well Capitalized 10% 2011 2012 2013 A 10% Total Risk-Based Capital ratio is the minimum required to be considered “well capitalized”. 5 The Western Alliance Difference. Local focus. Regional advantage. Founded by a seasoned group of veteran bankers and business leaders, our entrepreneurial culture and a deep commitment to the growth of the communities we serve have driven the expansion of Western Alliance Bank. Since our ﬁ rst bank was founded twenty years ago, Western Alliance Bancorporation is now approaching $10 billion in assets, and is one of the top 100 publicly-held banking companies in the United States. The bank operates with full service ofﬁ ces in Arizona, California and Nevada, as well as a national platform of specialized ﬁ nancial services. Local Focus Regional Advantages n Credit decision making n Robust lending capacity n Superior responsiveness and service n Sector speciﬁ c expertise n Relationship driven n Broad range of banking services n In-depth market knowledge n Customized solutions n Access to senior management n Access to regional network/opportunities Western Alliance has built a reputation for responsiveness, expertise, and an entrepreneurial spirit that shares our clients’ needs to “get business done”. This spirit continues to attract talented bankers and clients to a uniquely solutions-driven banking organization. 6 7 Experienced local relationship managers are the core of our Bank’s business, originating over $2.2 billion in loans in 2013. The power of expertise and responsiveness. We underwent a major change in our business when we started manufacturing turbine components for the power generation industry. We now deal with some of the largest and most sophisticated engineering companies in the world. The certiﬁ cation process was extensive, exhaustive and disruptive, and it took time and patience, particularly from our banker. As we expected, once this process was completed and we passed the test, the sky is now the limit. We needed a ﬁ nancial partner, not just a bank, during With leading senior professional bankers in this critical time and we had this with their local markets, Western Alliance is responsive in meeting clients’ ﬁ nancing needs. Having in-depth knowledge of the market, coupled with local authority and involvement of executive management, empowers bankers to act quickly in servicing their clients’ needs. The Bank prides itself on a culture of entrepreneurism – resulting in a record $2.2 billion in loans originated in 2013. n Commercial and industrial loans n Owner/investor commercial real estate ﬁ nancing n Commercial/residential construction lending n Equipment ﬁ nance/leasing n SBA 504 and 7(a) programs n Asset based lending n Medical/professional lending n Franchise lending n Public ﬁ nance n Letters of Credit n Loan syndications n Revolving Lines of Credit n Non-proﬁ t organization lending Bank of Nevada. Ed Cebulko and Richard Lassiter Co Owners, Power Gen Components Power Gen Components During their 10 year relationship with the bank, corporate banker Bill Paredes has witnessed partners Ed Cebulko and Richard Lassiter succeed in a highly specialized manufacturing business, focused in meeting the growing, sophisticated requirements of the power generation industry. From its Las Vegas- based operation, the high precision product is shipped throughout North America, Europe, Asia and South America. The ﬁ rm has hired over 55 new employees in the past three years. 9 Ed Cebulko and Richard Lassiter, co owners, Power Gen Components, with Bill Paredes, Executive Vice President, Corporate Banking Manager, Bank of Nevada (center). 8 In 2013, Western Alliance provided over $390 million in loans to local public and non-proﬁ t organizations in our markets, and holds over $600 million of public funds on deposit. A trusted banking option for governmental and non-proﬁ t customers. A team of highly experienced public ﬁ nance specialists provides ﬁ nancing, deposit and treasury management services to a wide variety of public and non-proﬁ t entities: n State and local governments n Local school districts n Health care n Charter schools n Colleges and universities n Power/water authorities n Non-proﬁ t organizations The Jewish Home is a unique organization and we wanted a bank with a special combination of expertise, capacity and personal attention to handle our needs. We are pleased to say we found it with Western Alliance – and look forward to our relationship for many years to come. Molly Forrest Chief Executive Ofﬁ cer – President, Los Angeles Jewish Home Los Angeles Jewish Home The Los Angeles Jewish Home has been at the forefront of senior care for over 100 years. Today, the Home is both a leading provider of senior healthcare services for the community and a senior living care facility serving over 4,300 seniors. The bank is pleased to be a ﬁ nancial partner, providing a $71 million tax- exempt bond reﬁ nancing that saved the Home nearly $7 million over the next 20 years. L to r: Monika Suarez, Vice President, Western Alliance Public Finance, Molly Forrest, Chief Executive Ofﬁ cer – President and Sherri B Cunningham, Chief Financial Ofﬁ cer and VP of Finance, Los Angeles Jewish Home. 10 11 A fast-changing environment demands bankers who understand the client’s industry and can help anticipate future needs. Professionals and their practices have different requirements than other businesses. Western Alliance has senior bankers, many with over 20 years of experience in speciﬁ c professional areas. These bankers are active members in professional organizations and sponsor continuing education programs and ﬁ nancial seminars on current topics related to their business and ﬁ nancial needs. n Healthcare facilities n Physician practices n Dental practices n Law ﬁ rms n CPA practices n Engineering/architectural ﬁ rms n Insurance practices We appreciate the relationship we have had with the bank for many years. For the past ten years, Torrey Pines Bank has provided a level of personalized service the big banks could not match. They have seen us grow and understand the complexities and rapid change in health care. The bank is a valued partner and was a key part of launching our surgery center even during the challenging economy of 2009. Sanjay Ghosh, MD, and Paul Murphy, MD Founding Partners, SMI Surgery Center SMI Surgery Center, San Diego Partner physicians, Drs. Paul Murphy and Sanjay Ghosh, have been long-time clients of Torrey Pines Bank and worked with the bank in the launch of their state-of-the-art surgery center in 2009. The 12,000 sf center has four operating rooms and private 23-hour stay rooms. Together with a team of partner physicians, the center focuses on the specialties of orthopaedic surgery, minimally invasive spine surgery, interventional pain management and reconstructive plastic surgery. 13 L to r: Sanjay Ghosh, MD, John Maguire, President, Torrey Pines Bank, and Paul Murphy, MD. 12 Alliance, like DAVIS, is forward-thinking and brings value in the ability to adapt to ever changing economic circumstances. We have a long and productive relationship with Alliance Bank that goes back many years. Both of our companies’ strong commitment to the clients we serve help make our state a meaningful place to work and live. Michael R. Davis CEO & Director of Design, DAVIS Marina Heights, DAVIS© Clients have a designated Treasury Management professional who knows their business and provides on-site consulting and tailor-ﬁ t deposit solutions. Cash Management solutions for business. Treasury Management bankers work one-on-one with each client to analyze the business’s current treasury operation and then design a speciﬁ c solution to optimize their cash management needs, increase efﬁ ciency and enhance the client’s security and fraud protection. n ACH Services n E-deposit remote capture n Online Banking n Positive Pay n Trusteer Fraud Protection DAVIS n Cash Vault n Merchant Services n Lockbox n Zero Balance accounts Headquartered in Phoenix, DAVIS has designed 75 million square feet of highly successful work environments valued at over $20 billion. Founded in 1975, the ﬁ rm provides urban design and planning, programming, architecture, interior design, and facility planning and management. DAVIS has received hundreds of awards including multiple “Architecture Firm of the Year” recognitions by NAIOP. 15 L to r: Kelley Deal, Vice President, Commercial Banker, Alliance Bank, Simone Stover Principal, Senior Interior Designer, Rory Carder, Principal, Managing Director, and Mike Edwards, APA, Principal, Senior Architectural Designer, DAVIS. 14 Moving local economies forward through business and banking partnerships. Clients require industry speciﬁ c long-term economic growth. Commercial real estate ﬁ nancing is essential to More than ever, businesses need a banking relationship they can count on. Promoting Business Growth Business owners depend on having a bank that they can rely on to weather changes in economic cycles and seize opportunities when they arise. Having a relationship manager who knows the local market gives business owners a key ﬁ nancial resource to foster their success and help them navigate through changing times. Western Alliance provides business owners and entrepreneurs with a broad range of ﬁ nancing options for commercial real estate, working capital, lines of credit, equipment ﬁ nancing, and Small Business Administration loan programs including: n SBA 504 program n SBA 7(a) program Our relationship managers also participate in local Community Development Corporations (CDCs) and partner with them and the Small Business Administration as speakers and subject experts. Gary Cady CEO, Torrey Pines Bank Business is a key driver of the health of our economy and a vital engine necessary to propel job creation. Since our inception, we have been a consistent, active ﬁ nancial resource to help business owners and entrepreneurs succeed – with bankers who have deep local roots and are personally dedicated to ensure we succeed in this mission. We are recognized as the “bank of choice” in our markets for commercial real estate and business ﬁ nancing based on our local market knowledge and structure which empowers our bankers to get decisions and execute quickly. As a result, our bankers have earned special recognition for their achievements including awards from the Small Business Administration for top performance in SBA lending in our markets. Having a seasoned team of bankers and an entrepreneurial culture allows us to fuel this important sector of our economy with responsiveness and increased capacity to grow our reputation as the bank “Where business gets done.” ﬁ nancial expertise to meet today’s competitive demands. n Community Association Financial Services – Alliance Association Bank, a division of Western Alliance Bank, provides a full range of loan, deposit and treasury management services speciﬁ cally designed for the community and homeowners association industry across the country. n Public Sector/Nonproﬁ t Organizations – Our specialized team provides ﬁ nancing solutions to reﬁ nance debt, construct new facilities and fund infrastructure projects. n Franchise Lending – Designed for franchise operators, ﬁ nancing is delivered through relationship managers with strong experience in serving the needs of franchise operations in the quick service restaurant industry. n Resort Finance – Serving US-based resort developers in the timeshare industry, a team of dedicated professionals provides customized solutions for receivable ﬁ nancing, land acquisition, construction and inventory ﬁ nancing. n Mortgage Warehouse Lending – Warehouse Lending relationship managers are strategically located across the country to provide an exceptional level of responsiveness and ﬂ exibility to meet the credit needs of the mortgage banking industry. n Equipment Finance – Western Alliance equipment ﬁ nance professionals provide customized solutions for business clients including tax and non-tax oriented leasing solutions and debt products across a broad industry spectrum. n Asset-Based Lending – Our asset-based lending group provides senior secured term and revolving credit facilities to large corporate borrowers. James H. Lundy CEO, Alliance Bank of Arizona The consistent availability of commercial real estate ﬁ nancing is critical to the continued growth of both our regional economies and our bank. We attract and retain highly experienced bankers with an in-depth knowledge of their local markets and each real estate product set within these markets. Our bankers recognize that not all transactions ﬁ t in a “box” and responsiveness can be a vital factor to get a deal closed. As a result, we work at crafting loan structures that provide the individual solutions our clients need. Our commitment to this critical component of our economy has enabled us to forge strong relationships with highly regarded commercial real estate developers and investors, and our bankers actively participate and hold leadership positions in organizations such as the Urban Land Institute, NAIOP and CREW Network. Given our results, our clients know they can rely on us to deliver solutions and meet the time-sensitive deadlines often required in commercial real estate ﬁ nancing. 16 17 In an increasingly automated world, clients can rely on Western Alliance for superior personal service and attention. Clients know they will receive “Private Bank” style service for their business and personal deposit account relationships. We offer a comprehensive range of deposit accounts to serve all sizes and types of businesses, professional practices, and non-proﬁt organizations as well as personal banking needs. n Demand deposit checking accounts n Interest checking accounts n Savings accounts n Money Market accounts n Certiﬁcates of Deposit n Certiﬁcate of Deposit Registry Service/ CDARS® Program n Insured Cash Sweep/ICS® Program n IOLTA accounts n Escrow Deposit Accounts An unwavering commitment to giving back to our communities. Board of Directors Western Alliance Bancorporation Bruce Hendricks CEO, Bank of Nevada Robert Sarver Chairman and Chief Executive Ofﬁcer Western Alliance Bancorporation Bruce Beach Chairman and CEO BeachFleischman PC William S. Boyd Executive Chairman of the Board Boyd Gaming Corporation Marianne Boyd Johnson Executive Vice President and Vice Chairman of the Board Boyd Gaming Corporation Steven J. Hilton Chairman and Chief Executive Ofﬁcer Meritage Homes Corporation Cary Mack Co-Managing Partner Southwest Value Partners Todd Marshall Chairman of the Board Marshall Retail Group Since our inception, Western Alliance has demonstrated an active commitment to helping the underserved and meeting the needs of low and moderate income neighborhoods through community development lending programs that address affordable housing and other economic development initiatives. Many of our bankers are active leaders in community organizations serving on boards, committees, and in volunteer work. Through this community development focus, we are continuously seeking opportunities to participate in providing loans, grants, sponsorships and volunteer efforts and are active in over 200 organizations in the markets we serve. Because these efforts are a key part of our culture, every year our employees contribute thousands of hours in volunteer service and many earn special recognition from their community organizations. M. Nafees Nagy, MD Director Premier Care Network James E. Nave, DVM Owner Tropicana Animal Hospital John P. Sande, III Partner Fennemore Craig Jones Vargas Donald Snyder President University of Nevada Las Vegas Sung Won Sohn, PhD Smith Professor of Economics California State University CI Kenneth A. Vecchione Chairman Western Alliance Bank President and CEO Encore Capital Group Executive Management Committee Robert Sarver Chairman and Chief Executive Ofﬁcer Gary Cady Executive Vice President California Administration Duane Froeschle Executive Vice President Southern Arizona Administration Dale Gibbons Executive Vice President Chief Financial Ofﬁcer Bruce Hendricks Executive Vice President Southern Nevada Administration James H. Lundy Executive Vice President Arizona and Northern Nevada Administration Robert McAuslan Executive Vice President Chief Credit Ofﬁcer Pat Taylor Executive Vice President Chief Risk Ofﬁcer Randall Theisen Executive Vice President General Counsel Merrill Wall Executive Vice President Chief Administrative Ofﬁcer 18 19 Ofﬁ ces Locations alliancebankofarizona.com bankofnevada.com ﬁ rstindependentnv.com torreypinesbank.com Chandler Ofﬁ ce (Opening Summer 2014) 3033 W. Ray Road Chandler, AZ 85226 Victor Napolitano, SVP Cityscape Ofﬁ ce One E. Washington St., Ste. 100 Phoenix, AZ 85004 (602) 629-1776 Rob Gramhill, SVP Biltmore Park Ofﬁ ce 2701 E. Camelback Rd., Ste. 110 Phoenix, AZ 85016 (602) 952-5400 Matt Gilbreath, SVP Flagstaff Ofﬁ ce 214 E. Birch Ave. Flagstaff, AZ 86001 (928) 214-3400 Sherri Slayton, EVP Mesa Ofﬁ ce 1110 E. Baseline Road Mesa, AZ 85204 (480) 609-2900 Dee Burton, EVP Sahara Regional Ofﬁ ce 2700 W. Sahara Ave. Las Vegas, NV 89102 (702) 248-4200 Lori Harrison, EVP Centennial Hills Ofﬁ ce 8505 W. Centennial Pkwy. Las Vegas, NV 89149 (702) 856-7160 Joyce Smith, SVP Grand Central Pkwy. Ofﬁ ce 100 City Pkwy., Ste. 120 Las Vegas, NV 89106 (702) 696-6700 Lori Harrison, EVP Hualapai Regional Ofﬁ ce 1115 S. Hualapai Way Las Vegas, NV 89117 (702) 856-7100 Rachelle Crupi, EVP Kietzke Ofﬁ ce 5335 Kietzke Lane Reno, NV 89511 (775) 828-2000 Mike Hix, SVP Carson City Ofﬁ ce 1818 E. College Pkwy. Carson City, NV 89706 (775) 682-4747 Greg Nixon, VP Fallon Ofﬁ ce 2061 W. Williams Ave. Fallon, NV 89406 (775) 423-9586 Robby Johnston, VP Spanish Springs Ofﬁ ce 381 Los Altos Pkwy. Sparks, NV 89436 (775) 626-9400 Kathy Flamm, SVP Northwest Regional Ofﬁ ce 7251 W. Lake Mead Blvd., Ste. 108 Las Vegas, NV 89128 (702) 240-1734 Mark Larson, EVP Sparks Industrial Ofﬁ ce 980 S. McCarran Blvd. Sparks, NV 89431 (775) 358-1300 Kathy Flamm, SVP Midtown Ofﬁ ce 2901 N. Central Ave., Ste. 100 Phoenix, AZ 85012 (602) 629-1700 Kelly Conner, SVP North Scottsdale Ofﬁ ce 15100 N. 78th Way Scottsdale, AZ 85260 (480) 905-4460 Julian Fruhling, SVP Scottsdale/Paradise Valley Ofﬁ ce 7373 N. Scottsdale Rd. Scottsdale, AZ 85253 (480) 998-6500 Joan Lessner, SVP Southwest Regional Ofﬁ ce 3985 S. Durango Dr. Las Vegas, NV 89147 (702) 363-5140 Sarah Guindy, EVP Aliante Ofﬁ ce 6915 Aliante Pkwy. North Las Vegas, NV 89084 (702) 856-7140 Cindi Underwood, Op. Mgr. Henderson Regional Ofﬁ ce 2890 N. Green Valley Pkwy. Henderson, NV 89014 (702) 451-0624 Daline Januik, EVP Sedona Ofﬁ ce 6486 Highway 179, Ste. 110 Sedona, AZ 86351 (928) 284-2380 Carol Schlim-Thomason, VP Swan Ofﬁ ce 4703 E. Camp Lowell Dr. Tucson, AZ 85712 (520) 784-6000 Duane Froeschle, President Williams Centre Ofﬁ ce 200 S. Craycroft Rd. Tucson, AZ 85711 (520) 322-7700 Pat Simmons, SVP Siena Heights Ofﬁ ce 10199 S. Eastern Ave. Henderson, NV 89052 (702) 940-8500 Kathy Taylor, SVP Stephanie Ofﬁ ce 221 N. Stephanie St. Henderson, NV 89074 (702) 939-5700 Daline Januik, EVP Mesquite Ofﬁ ce 11 Pioneer Blvd. Mesquite, NV 89027 (702) 346-6600 Dan Wright, SVP Sparks Marina Ofﬁ ce 725 Sparks Blvd. Sparks, NV 89434 (775) 358-8400 Kathy Flamm, SVP Robb Drive Ofﬁ ce 6290 Sharlands Ave. Reno, NV 89523 (775) 746-3000 Michele Trombly, SVP Western Alliance Equipment Finance westernallianceef.com One E. Washington St. Phoenix, AZ 85004 (602) 797-3643 Bill Koenig, EVP Western Alliance Mortgage Warehouse Lending westernalliancewl.com 2701 E. Camelback Rd. Phoenix, AZ 85016 (602) 952-5414 Steve Curley, SVP Alliance Association Bank allianceassociationbank.com (New Headquarters July 2014) 3033 W. Ray Road Chandler, AZ 85226 (888) 734-4567 Craig Huntington, President Western Alliance Asset-Based Lending One E. Washington St. Phoenix, AZ 85004 (602) 952-5488 Brent Edgecumbe, SVP Western Alliance Public Finance westernalliancepf.com One E. Washington St. Phoenix, AZ 85004 (602) 797-3634 Jim Sult Jr., SVP 20 Carmel Valley Ofﬁ ce 12220 El Camino Real, Ste. 110 San Diego, CA 92130 (858) 523-4630 Tom Woolway, SVP Teoﬂ a Rich, SVP, Private Banking Beverly Hills Ofﬁ ce 9355 Wilshire Blvd. Beverly Hills, CA 92101 (310) 623-8900 Kathleen Chapman, SVP Carlsbad Ofﬁ ce 2760 Gateway Rd. Carlsbad, CA 92009 (760) 444-8400 Don Schempp, SVP Kearny Mesa Ofﬁ ce 9280 Clairemont Mesa Blvd. San Diego, CA 92123 (858) 259-5300 Vince Kingsley, SVP Golden Triangle Ofﬁ ce 4350 Executive Dr., Ste. 130 San Diego, CA 92121 (858) 523-4688 Burt Brigida, SVP La Mesa Ofﬁ ce 8379 Center Dr. La Mesa, CA 91942 (619) 233-2555 Chris Grassa, SVP Los Altos Ofﬁ ce 20 First St. Los Altos, CA 94022 (650) 469-1700 Al Diaz, SVP Los Angeles Ofﬁ ce One Bunker Hill, 601 W. 5th Ave. Los Angeles, CA 90071 (213) 362-5200 Paul Donaldson, EVP, Reg. Pres. Oakland Ofﬁ ce 1951 Webster St. Oakland, CA 94612 (510) 899-7500 Larry Fountain, EVP, Reg. Pres. San Diego Ofﬁ ce 550 West C St., Ste. 100 San Diego, CA 92101 (619) 233-2500 Robert McNamara, SVP Symphony Towers Ofﬁ ce 750 B St., Ste. 100 San Diego, CA 92101 (619) 233-2200 Francesca Castagnola, SVP Western Alliance Resort Finance westernalliancerf.com One E. Washington St. Phoenix, AZ 85004 (602) 386-2315 Tracy Gaylord, Managing Director Tom Perrott, Managing Director NORTHERN NEVADA First Independent Bank 7 LOCATIONS N E V A D A SOUTHERN NEVADA Bank of Nevada BAY AREA 2 LOCATIONS C A L I F O R N I A 11 LOCATIONS Torrey Pines Bank LOS ANGELES 2 LOCATIONS SAN DIEGO COUNTY 7 LOCATIONS NORTHERN ARIZONA 2 LOCATIONS A R I Z O N A Alliance Bank of Arizona METRO PHOENIX 6 LOCATIONS TUCSON 2 LOCATIONS Western Alliance Bancorporation (NYSE:WAL) is a leading bank holding company providing comprehensive business banking and related ﬁ nancial services through its primary subsidiary, Western Alliance Bank. With local teams of experienced bankers, the bank provides a superior level of capabilities, products and service, to assist the growth of local businesses and the quality of life in the markets it serves. In addition to a national platform of specialized ﬁ nancial service units, the bank operates full service banking ofﬁ ces in its local markets as Alliance Bank of Arizona, Bank of Nevada, First Independent Bank and Torrey Pines Bank. Western Alliance Bancorporation is publicly traded on the New York Stock Exchange. Alliance Bank of Arizona, Bank of Nevada, First Independent Bank and Torrey Pines Bank are divisions of Western Alliance Bank. Member FDIC. Western Alliance Bank and Western Alliance Equipment Finance are subsidiaries of Western Alliance Bancorporation.

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