PHOENIX (AP) _ Western Alliance Bancorp (WAL) on Thursday reported second-quarter earnings of $122.9 million.
The bank, based in Phoenix, said it had earnings of $1.19 per share.
The results topped Wall Street expectations. The average estimate of seven analysts surveyed by Zacks Investment Research was for earnings of $1.16 per share.
The bank holding company posted revenue of $317.1 million in the period. Its revenue net of interest expense was $268.9 million, which fell short of Street forecasts. Six analysts surveyed by Zacks expected $270.4 million.
Western Alliance shares have risen 13% since the beginning of the year. In the final minutes of trading on Thursday, shares hit $44.46, a drop of 24% in the last 12 months.