Western Alliance Bancorporation saw a 25% increase in year-over-year deposits during the third quarter, demonstrating an ability to sustain growth during a changing interest rate environment, the bank’s top executive said on an earnings call Friday.
Phoenix-based Western Alliance, which operates Alliance Bank of Arizona along with banks in Nevada and California, reported $68 billion in deposits in the third quarter compared to $54.3 billion a year earlier.
“Our national diversified credit origination and deposit platforms uniquely position us to sustain strong deposit growth and then deploy this liquidity into attractive commercial loans, where we can provide deep segment and product expertise," Kenneth Vecchione, president and CEO of Western Alliance, said on the earnings call.
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