Finance
Western Alliance Jumps After Deposits Beat Estimates
The Phoenix-based bank said deposits were $54.3 billion, an increase on the prior quarter but a decline on the same period a year ago.
Photographer: Caitlin O'Hara/BloombergThis article is for subscribers only.
Western Alliance Bancorp jumped after reporting third-quarter deposits and net interest income that beat analyst estimates, a sign it continues to weather turmoil that rocked midsized lenders earlier this year.
The Phoenix-based bank said deposits were $54.3 billion, an increase on the prior quarter but a decline on the same period a year ago. Net interest income was $587 million, which also surpassed analyst predictions.