Credit and interest ratesmixed · 3 filings
“Other borrowings decreased by $333 million due to a reduction in long-term FHLB borrowings, though this was partially offset by an increase in short-term FHLB borrowings.”10-K · Feb 23, 2026 ↗
Western Alliance Bancorporation
WAL
Market read
Western Alliance Bancorporation's current read is isolated; its market group is not confirming.
No new filing conclusion is available. 0 of 15 group members are active now; 0 filing-linked outsiders are moving with the group, and 0 of 0 directly disclosed connections are confirming.
Company-0.5% todayVolume comparison unavailable
Market group0 of 15 activeRegional Banks · unavailable
Disclosed network0 of 6 confirmingNo filing-linked name is confirming now
What would change this read
Watch this read- WAL's market-adjusted activity becomes unusual and at least one connected name confirms.
Invalidation: The isolated read changes if WAL's group or a disclosed connection begins moving with it.
Research brief
The story so far
No new filing conclusion is available. 0 of 15 group members are active now; 0 filing-linked outsiders are moving with the group, and 0 of 0 directly disclosed connections are confirming.
Evidence that supports
No thresholded supportive filing evidence is available yet.
Evidence that challenges
No thresholded adverse filing evidence is available yet.
What would clarify the read
- WAL's market-adjusted activity becomes unusual and at least one connected name confirms.
Company research
Understand the business, not just the ticker
Business model and earnings drivers
Use the company’s filings to identify the few operating, demand, cost, capital and regulatory variables that determine its earnings power.
Key research questions
- Which operating variable is changing?
- Is that change durable, cyclical or one-off?
- What evidence would disprove the current interpretation?
Annual periods5
Price observations327
Usable filing statements115
Verified relationships0
Evidence supporting the case
- Latest annual revenue changed +99.7% year over year.
Evidence challenging the case
- Net margin changed -444.8 percentage points in the latest annual period.
- Operating cash flow was only -2.765x net income in the latest annual period.
- Credit and interest rates has repeated adverse evidence across 3 filings.
- Demand and volume has repeated adverse evidence across 3 filings.
Questions before a position
- P/E is 31% below the available filing-peer median; determine whether growth and quality justify the difference.
- EV/sales is 375% above the available filing-peer median; determine whether growth and quality justify the difference.
Longer-term price context
Price as of Sep 10, 2026
79.316m+14.0%12m-10.2%24m—
Annual trajectory
Reported annual revenue and per-share history. This is accounting history, not a forecast.
PeriodRevenueYoYDiluted EPSShare change
2021-12-31$37.6M—$8.67—
2022-12-31$44.1M+17.3%$9.70+4.2%
2023-12-31$98.6M+123.6%$6.54+0.8%
2024-12-31$68.0M-31.0%$7.09+0.7%
2025-12-31$135.8M+99.7%$8.73+0.2%
What management says matters
Persistent and emerging business drivers
Demand and volumenegative · 3 filings
“The increase during the year ended December 31, 2025 was primarily driven by increases in non-interest bearing, savings and money market, and interest bearing demand deposits.”10-K · Feb 23, 2026 ↗
Restructuring and cost reductionsmixed · 1 filings
“During the year ended December 31, 2023, due to the industry disruption from the bank failures in early 2023, the Company performed an interim Step 0 goodwill impairment assessment as of each interim quarter end date, and it was determined that it was more li…”10-K · Feb 23, 2026 ↗
Valuation discipline
Descriptive valuation snapshot
Price/sales 64.0× · EV/sales 74.2×. Comparisons use only industry-matched filing peers.
Scenario scaffold
Scenarios are withheld for Financial Services until sector-specific earnings and capital metrics are available; generic revenue/P/S scaffolds would be misleading.
Price action
How the market is pricing the story
79.31-0.5% today
Jodie does not have enough daily observations to draw a useful short-term chart for this asset. The latest quoted price was checked 10 Sept, 15:55 GMT-4; this is a coverage limitation, not a flat-price conclusion.
Developments
No sourced recent-development timeline yet
Jodie has not returned a relevant primary source or news item for WAL. This is an evidence-coverage gap, not a conclusion that nothing material happened.
Business and financial condition
Reported financial figures are not available yet
Jodie has not returned structured SEC XBRL fundamentals for this asset. This is a coverage limitation, not an assessment of the business or its financial health.
Filing analysis
No comparable filing assessment is available yet
Jodie has not yet found a suitable current-versus-prior filing comparison for WAL. This does not mean the latest filing was neutral or immaterial.
Business ecosystem
The relationships behind WAL
Customers, suppliers, partners and competitors named in company filings—not inferred from headlines.
Filing peers
Companies whose filings use similar operating language.
Open the three relationships above to see Jodie’s filing proof. Pro unlocks 6 more links, every receipt, and alerts when connected names begin moving. Unlock the full network →
What is moving around it
Live connections
WAL is currently a Follower in the organic co-movement group Regional Banks. This group is discovered from market behaviour rather than assigned from an industry taxonomy. No verified filing-linked names are available yet.
Context history
Theme membership history
No durable theme membership has been observed for this name yet.