Western Alliance: 1Q Earnings Snapshot

PHOENIX (AP) _ Western Alliance Bancorp (WAL) on Monday reported first-quarter earnings of $120.8 million.

The bank, based in Phoenix, said it had earnings of $1.16 per share.

The results surpassed Wall Street expectations. The average estimate of seven analysts surveyed by Zacks Investment Research was for earnings of $1.10 per share.

The bank holding company posted revenue of $306.6 million in the period. Its revenue net of interest expense was $262.7 million, also exceeding Street forecasts. Six analysts surveyed by Zacks expected $260.8 million.

Western Alliance shares have climbed almost 10 percent since the beginning of the year. In the final minutes of trading on Monday, shares hit $43.37, a drop of 25 percent in the last 12 months.

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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on WAL at https://www.zacks.com/ap/WAL