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Western Alliance: 4Q Earnings Snapshot

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PHOENIX (AP) _ Western Alliance Bancorp (WAL) on Thursday reported fourth-quarter earnings of $119.1 million.

The Phoenix-based bank said it had earnings of $1.13 per share.

The results beat Wall Street expectations. The average estimate of seven analysts surveyed by Zacks Investment Research was for earnings of $1.06 per share.

The bank holding company posted revenue of $295.6 million in the period. Its revenue net of interest expense was $257.1 million, which also topped Street forecasts. Six analysts surveyed by Zacks expected $255.2 million.

For the year, the company reported profit of $435.8 million, or $4.14 per share. Revenue was reported as $959 million.

Western Alliance shares have climbed 13 percent since the beginning of the year. In the final minutes of trading on Thursday, shares hit $44.74, 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