PHOENIX--Western Alliance Bancorporation (NYSE: WAL) today announced that the company is ranked #4 on the Forbes 2017 “Best Banks in America” list. The banking organization was ranked #10 on the 2016 list.
Forbes ranked the 100 largest U.S. banks based on 10 metrics related to growth, profitability, capital adequacy and asset quality. Metrics included return on average tangible equity, return on average assets, net interest margin, efficiency ratio and net charge-offs as a percent of total loans. Forbes also factored in nonperforming assets as a percent of assets, risk-based capital ratio and reserves as a percent of nonperforming assets.
“We are very pleased to again be recognized on Forbes’ prestigious list of Best Banks in America 2017,” said Robert Sarver, Chairman and CEO, Western Alliance Bancorporation. “This broad-based look at key performance levers for our industry demonstrates Western Alliance’s continuing commitment to excellence – not only in terms of how we perform for shareholders, but also in terms of financial strength and supporting the credit needs of our communities.”
Forbes noted it had tweaked two of the metrics this year with 12-month operating revenue growth replacing total revenue growth, and CET1 ratio replacing the Tier 1 common capital ratio under the U.S. Basel III revised regulatory capital rules. Per Forbes, all data is based on regulatory filings for the period ending Sept. 30, and each of the 10 metrics were weighted equally in the final rankings.
About Western Alliance Bancorporation
With more than $17 billion in assets, Western Alliance Bancorporation is one of the country’s top-performing banking companies. Its primary subsidiary, Western Alliance Bank, is the go-to bank for business and succeeds with local teams of experienced bankers who deliver superior service and a full spectrum of deposit, lending, treasury management, international banking and online banking products and services. Western Alliance Bank operates full-service banking divisions: Alliance Bank of Arizona, Bank of Nevada, Bridge Bank, First Independent Bank and Torrey Pines Bank. The bank also serves business customers through a robust national platform of specialized financial services including Corporate Finance, Equity Fund Resources, Hotel Franchise Finance, Life Sciences Group, Mortgage Warehouse Lending, Public and Nonprofit Finance, Renewable Resource Group, Resort Finance, Technology Finance and Alliance Association Bank.