PHOENIX (AP) _ Western Alliance Bancorp (WAL) on Thursday reported second-quarter earnings of $93.3 million.
The Phoenix-based bank said it had earnings of 93 cents per share.
The results surpassed Wall Street expectations. The average estimate of six analysts surveyed by Zacks Investment Research was for earnings of 69 cents per share.
The bank holding company posted revenue of $339.5 million in the period. Its revenue net of interest expense was $319.7 million, also topping Street forecasts. Five analysts surveyed by Zacks expected $305.4 million.
Western Alliance shares have decreased 36% since the beginning of the year. In the final minutes of trading on Thursday, shares hit $36.58, a drop of 17% in the last 12 months.