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Western Alliance Bancorporation – ‘10-K’ for 12/31/20 – ‘R25’

On:  Thursday, 2/25/21, at 3:27pm ET   ·   For:  12/31/20   ·   Accession #:  1212545-21-85   ·   File #:  1-32550

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  As Of               Filer                 Filing    For·On·As Docs:Size

 2/25/21  Western Alliance Bancorporation   10-K       12/31/20  136:27M

Annual Report   —   Form 10-K
Filing Table of Contents

Document/Exhibit                   Description                      Pages   Size 

 1: 10-K        Annual Report                                       HTML   3.45M 
 2: EX-21.1     Subsidiaries List                                   HTML     41K 
 3: EX-23.1     Consent of Expert or Counsel                        HTML     35K 
 4: EX-31.1     Certification -- §302 - SOA'02                      HTML     41K 
 5: EX-31.2     Certification -- §302 - SOA'02                      HTML     41K 
 6: EX-32       Certification -- §906 - SOA'02                      HTML     39K 
13: R1          Document and Entity Information                     HTML    102K 
14: R2          Consolidated Balance Sheets                         HTML    152K 
15: R3          Consolidated Balance Sheets (Parenthetical)         HTML     45K 
16: R4          Consolidated Statements of Operations               HTML    155K 
17: R5          Consolidated Statements of Comprehensive Income     HTML    108K 
18: R6          Consolidated Statements of Comprehensive Income     HTML     38K 
                (Parenthetical)                                                  
19: R7          Consolidated Statements of Stockholders' Equity     HTML     86K 
20: R8          Consolidated Statements of Cash Flows               HTML    155K 
21: R9          Deposits (Notes)                                    HTML     56K 
22: R10         Deposits (Tables)                                   HTML     55K 
23: R11         Deposits (Details)                                  HTML     70K 
24: R12         Stockholders' Equity Treasury shares (Details)      HTML     41K 
25: R13         Summary of Significant Accounting Policies          HTML    241K 
26: R14         Receivables, Loans, Notes Receivable, and Others    HTML     91K 
27: R15         Premises and Equipment (Notes)                      HTML     50K 
28: R16         Leases (Notes)                                      HTML     51K 
29: R17         Goodwill and Other Intangible Assets Goodwill and   HTML     69K 
                Other Intangible Assets (Notes)                                  
30: R18         Other Borrowings                                    HTML     47K 
31: R19         Qualifying Debt Qualifying Debt (Notes)             HTML     70K 
32: R20         Stockholders' Equity                                HTML     62K 
33: R21         Accumulated Other Comprehensive Income              HTML     93K 
34: R22         Derivatives and Hedging                             HTML    129K 
35: R23         Earnings per Share (Notes)                          HTML     51K 
36: R24         Income Taxes                                        HTML    115K 
37: R25         Commitments and Contingencies                       HTML     70K 
38: R26         Fair Value Accounting                               HTML    286K 
39: R27         Financial Services, Banking and Thrift              HTML    112K 
40: R28         Employee Benefit Plan (Notes)                       HTML     72K 
41: R29         Related Parties (Notes)                             HTML     50K 
42: R30         Parent Company (Notes)                              HTML    119K 
43: R31         Segments                                            HTML    186K 
44: R32         Quarterly Financial Data (Notes)                    HTML    100K 
45: R33         Subsequent Events                                   HTML     39K 
46: R34         Summary of Significant Accounting Policies          HTML    233K 
                (Policies)                                                       
47: R35         Investment Securities (Tables)                      HTML    350K 
48: R36         Loans, Leases and Allowance for Credit Losses       HTML    485K 
                (Tables)                                                         
49: R37         Premises and Equipment (Tables)                     HTML     49K 
50: R38         Leases (Tables)                                     HTML     46K 
51: R39         Goodwill and Other Intangible Assets (Tables)       HTML     82K 
52: R40         Other Borrowings (Tables)                           HTML     45K 
53: R41         Qualifying Debt Junior Subordinated Debt Table      HTML     64K 
                (Tables)                                                         
54: R42         Stockholders' Equity Schedule of Share-based        HTML     53K 
                Compensation Arrangements by Share-based Payment                 
                Award (Tables)                                                   
55: R43         Accumulated Other Comprehensive Income (Tables)     HTML     94K 
56: R44         Derivatives and Hedging (Tables)                    HTML     99K 
57: R45         Earnings per Share (Tables)                         HTML     50K 
58: R46         Income Taxes Provision (Tables)                     HTML    111K 
59: R47         Commitments and Contingencies (Tables)              HTML     65K 
60: R48         Fair Value Accounting (Tables)                      HTML    222K 
61: R49         Employee Benefit Plan (Tables)                      HTML     71K 
62: R50         Related Parties (Tables)                            HTML     45K 
63: R51         Parent Company (Tables)                             HTML    100K 
64: R52         Segments (Tables)                                   HTML    178K 
65: R53         Quarterly Financial Data (Tables)                   HTML    100K 
66: R54         Summary of Significant Accounting Policies -        HTML     68K 
                Additional Information (Detail)                                  
67: R55         Investment Securities - Carrying Amounts and Fair   HTML    235K 
                Values of Investment Securities (Detail)                         
68: R56         Investment Securities - Additional Information      HTML     45K 
                (Detail)                                                         
69: R57         Investment Securities - Unrealized Losses and Fair  HTML     91K 
                Value of Investment Securities in Continuous                     
                Unrealized Loss Position (Detail)                                
70: R58         Investment Securities - Amortized Cost and Fair     HTML     86K 
                Value of Investment Securities by Contractual                    
                Maturities (Detail)                                              
71: R59         Investment Securities - Investment Securities by    HTML    183K 
                Credit Rating Type (Detail)                                      
72: R60         Investment Securities - Investment Securities by    HTML     37K 
                Credit Rating Type (Detail)                                      
73: R61         Investment Securities - Gross Gains and (Losses)    HTML     49K 
                on Sales of Investments (Detail)                                 
74: R62         Investments Securities Investment Securities -      HTML     48K 
                Allowance for Credit Losses - HTM (Details)                      
75: R63         Loans, Leases and Allowance for Credit Losses -     HTML     83K 
                Schedule of Held for Investment Loan Portfolio                   
                Composition of Loans, Leases and Allowance for                   
                Credit Losses (Detail)                                           
76: R64         Loans, Leases and Allowance for Credit Losses -     HTML    128K 
                Summary of Recorded Investment in Nonaccrual Loans               
                and Loans Past Due 90 Days Still Accruing Interest               
                by Loan Class (Detail)                                           
77: R65         Contractual Aging of Loan Portfolio by Segment      HTML    166K 
                (Details)                                                        
78: R66         Loans, Leases and Allowance for Credit Losses -     HTML    414K 
                Loans by Risk Rating (Detail)                                    
79: R67         Loans, Leases and Allowance for Credit Losses -     HTML     73K 
                Troubled Debt Restructurings (Detail)                            
80: R68         Loans, Leases and Allowance for Credit Loans,       HTML     86K 
                Leases and Allowance for Credit Losses -                         
                Collateral Dependent Loans (Details)                             
81: R69         Loans, Leases and Allowance for Credit Losses -     HTML    223K 
                Allowances for Credit Losses (Detail) Valuation                  
82: R70         Loans, Leases and Allowance for Credit Losses Loan  HTML     69K 
                Purchases and Sales (Details)                                    
83: R71         Premises and Equipment (Details)                    HTML     55K 
84: R72         Leases (Details)                                    HTML     78K 
85: R73         Goodwill and Other Intangible Assets (Details)      HTML     60K 
86: R74         Other Borrowings - Company's Borrowings (Detail)    HTML     51K 
87: R75         Other Borrowings - Additional Information (Detail)  HTML     48K 
88: R76         Qualifying Debt (Details)                           HTML     38K 
89: R77         Qualifying Debt Subordinated Debt Details           HTML     58K 
                (Details)                                                        
90: R78         Qualifying Debt Junior Subordinated Debt (Details)  HTML     75K 
91: R79         Qualifying Debt Supplemental Schedule - Adoption    HTML     80K 
                of ASU 2016-01 (Details)                                         
92: R80         Stockholders' Equity - Additional Information       HTML     65K 
                (Detail)                                                         
93: R81         Stockholders' Equity - Summary of Unvested Shares   HTML     69K 
                of Restricted Stock and Changes (Detail)                         
94: R82         Stockholders' Equity Share-Based Compensation -     HTML     69K 
                Stock Options (Details)                                          
95: R83         Stockholders' Equity Common Stock Repurchase        HTML     45K 
                (Details)                                                        
96: R84         Stockholders' Equity Dividend (Details)             HTML     39K 
97: R85         Accumulated Other Comprehensive Income - Summary    HTML     75K 
                of Changes in Accumulated Other Comprehensive                    
                Income (Detail)                                                  
98: R86         Accumulated Other Comprehensive Income - Schedule   HTML     47K 
                of Reclassifications Out of Accumulated Other                    
                Comprehensive Income (Detail)                                    
99: R87         Derivatives and Hedging Fair Value of Derivative    HTML     80K 
                Contracts (Detail)                                               
100: R88         Derivatives and Hedging Pre-Tax Net Gains (Losses)  HTML     44K  
                on Fair Value Hedges (Detail)                                    
101: R89         Derivatives and Hedging Largest Exposure to         HTML     48K  
                Individual Counterparty (Detail)                                 
102: R90         Derivatives and Hedging Additional Information      HTML     80K  
                (Detail)                                                         
103: R91         Earnings per Share (Details)                        HTML     65K  
104: R92         Income Taxes Provision for Income Tax (Details)     HTML     50K  
105: R93         Income Taxes Reconciliation between Statutory       HTML     60K  
                Federal Income Tax and Company's Effective Tax                   
                Rate (Details)                                                   
106: R94         Income Taxes - Additional Information (Detail)      HTML     53K  
107: R95         Income Taxes Income Taxes - Cumulative Tax Effects  HTML     86K  
                of Primary Differences (Details)                                 
108: R96         Income Taxes - Low Income Housing Tax Credit        HTML     44K  
                (Details)                                                        
109: R97         Income Taxes Gross Activity of Unrecognized Tax     HTML     58K  
                Benefits Related to Uncertain Tax Positions                      
                (Details)                                                        
110: R98         Commitments and Contingencies - Additional          HTML     58K  
                Information (Detail)                                             
111: R99         Commitments and Contingencies - Summary of          HTML     61K  
                Contractual Amounts for Unfunded Commitments and                 
                Letters of Credit (Detail)                                       
112: R100        Commitments and Contingencies - Contractual         HTML     56K  
                Commitments for Lines and Letters of Credit by                   
                Maturity (Detail)                                                
113: R101        Commitments and Contingencies Concentration of      HTML     37K  
                Lending Activities (Details)                                     
114: R102        Fair Value Accounting - Gains and Losses from Fair  HTML     44K  
                Value Changes Included in Consolidated Statement                 
                of Operations (Detail)                                           
115: R103        Fair Value Accounting - Fair Value of Assets and    HTML    154K  
                Liabilities (Detail)                                             
116: R104        Fair Value Accounting - Change in Level 3           HTML     88K  
                Liabilities Measured at Fair Value on Recurring                  
                Basis (Detail)                                                   
117: R105        Fair Value Accounting - Assets Measured at Fair     HTML     66K  
                Value on Nonrecurring Basis (Detail)                             
118: R106        Fair Value Accounting - Estimated Fair Value of     HTML    141K  
                Financial Instruments (Detail)                                   
119: R107        Fair Value Accounting - Additional Information      HTML     71K  
                (Detail)                                                         
120: R108        Fair Value Accounting Additional Details (Details)  HTML     37K  
121: R109        Regulatory Capital Requirements - Summary of        HTML     78K  
                Actual Capital Amount and Ratio (Detail)                         
122: R110        Employee Benefit Plan (Details)                     HTML     52K  
123: R111        Employee Benefit Plan Accumulated Benefit           HTML     57K  
                Obligation and Funded Status of SERP (Details)                   
124: R112        Employee Benefit Plan Net Periodic Benefit Cost     HTML     59K  
                (Details)                                                        
125: R113        Related Parties (Details)                           HTML     59K  
126: R114        Parent Company Parent Company Balance Sheet         HTML     78K  
                (Details)                                                        
127: R115        Parent Company Parent Company Condensed Income      HTML     85K  
                Statement (Details)                                              
128: R116        Parent Company Parent Company Cash Flows (Details)  HTML     94K  
129: R117        Segments - Operating Segment Information (Detail)   HTML    206K  
130: R118        Revenue from Contracts with Customers (Details)     HTML     99K  
131: R119        Quarterly Financial Data (Details)                  HTML     91K  
132: R9999       Uncategorized Items - wal-20201231.htm              HTML     51K  
134: XML         IDEA XML File -- Filing Summary                      XML    259K  
12: XML         XBRL Instance -- wal-20201231_htm                    XML   7.77M 
133: EXCEL       IDEA Workbook of Financial Reports                  XLSX    241K  
 8: EX-101.CAL  XBRL Calculations -- wal-20201231_cal                XML    280K 
 9: EX-101.DEF  XBRL Definitions -- wal-20201231_def                 XML   2.10M 
10: EX-101.LAB  XBRL Labels -- wal-20201231_lab                      XML   3.08M 
11: EX-101.PRE  XBRL Presentations -- wal-20201231_pre               XML   2.47M 
 7: EX-101.SCH  XBRL Schema -- wal-20201231                          XSD    314K 
135: JSON        XBRL Instance as JSON Data -- MetaLinks              705±  1.11M  
136: ZIP         XBRL Zipped Folder -- 0001212545-21-000085-xbrl      Zip    922K

‘R25’   —   Commitments and Contingencies

This is an IDEA Financial Report.  [ Alternative Formats ]

 
v3.20.4
Commitments and Contingencies
 12 Months Ended
Commitments and Contingencies Disclosure [Abstract]  
Commitments and Contingencies
15. COMMITMENTS AND CONTINGENCIES
Unfunded Commitments and Letters of Credit
The Company is party to financial instruments with off-balance sheet risk in the normal course of business to meet the financing needs of its customers. These financial instruments include commitments to extend credit and letters of credit. They involve, to varying degrees, elements of credit risk in excess of amounts recognized on the Consolidated Balance Sheets.
Lines of credit are obligations to lend money to a borrower. Credit risk arises when the borrower's current financial condition may indicate less ability to pay than when the commitment was originally made. In the case of letters of credit, the risk arises from the potential failure of the customer to perform according to the terms of a contract. In such a situation, the third party might draw on the letter of credit to pay for completion of the contract and the Company would look to its customer to repay these funds with interest. To minimize the risk, the Company uses the same credit policies in making commitments and conditional obligations as it would for a loan to that customer.
Letters of credit and financial guarantees are commitments issued by the Company to guarantee the performance of a customer to a third party in borrowing arrangements. The Company generally has recourse to recover from the customer any amounts paid under the guarantees. Typically, letters of credit issued have expiration dates within one year.
A summary of the contractual amounts for unfunded commitments and letters of credit are as follows: 
December 31,
 20202019
 (in millions)
Commitments to extend credit, including unsecured loan commitments of $1,077.2 at December 31, 2020 and $895.2 at December 31, 2019
$9,425.2 $8,348.4 
Credit card commitments and financial guarantees291.5 302.9 
Letters of credit, including unsecured letters of credit of $9.9 at December 31, 2020 and $5.9 at December 31, 2019
186.9 175.8 
Total$9,903.6 $8,827.1 
The following table represents the contractual commitments for lines and letters of credit by maturity at December 31, 2020: 
Amount of Commitment Expiration per Period
Total Amounts CommittedLess Than 1 Year1-3 Years3-5 YearsAfter 5 Years
(in millions)
Commitments to extend credit$9,425.2 $2,369.4 $4,070.1 $1,737.8 $1,247.9 
Credit card commitments and financial guarantees291.5 291.5 — — — 
Letters of credit186.9 145.3 32.9 8.7 — 
Total$9,903.6 $2,806.2 $4,103.0 $1,746.5 $1,247.9 
Commitments to extend credit are agreements to lend to a customer provided that there is no violation of any condition established in the contract. Commitments generally have fixed expiration dates or other termination clauses and may require payment of a fee. The Company enters into credit arrangements that generally provide for the termination of advances in the event of a covenant violation or other event of default. Since many of the commitments are expected to expire without being drawn upon, the total commitment amounts do not necessarily represent future cash requirements. The Company evaluates each customer’s creditworthiness on a case-by-case basis. The amount of collateral obtained, if deemed necessary by the Company upon extension of credit, is based on management’s credit evaluation of the party. The commitments are collateralized by the same types of assets used as loan collateral.
The Company has exposure to credit losses from unfunded commitments and letters of credit. As funds have not been disbursed on these commitments, they are not reported as loans outstanding. Credit losses related to these commitments are included in other liabilities as a separate loss contingency and are not included in the allowance for credit losses reported in "Note 3. Loans, Leases and Allowance for Credit Losses" of these Consolidated Financial Statements. This loss contingency for unfunded loan commitments and letters of credit was $37.0 million and $9.0 million as of December 31, 2020 and 2019, respectively. Changes to this liability are adjusted through the provision for credit losses in the Consolidated Income Statement. In addition, upon adoption of ASU 2016-13 on January 1, 2020, the Company recorded an increase of $15.1 million to this liability, which was recorded as an adjustment to retained earnings, net of tax.
Concentrations of Lending Activities
The Company does not have a single external customer from which it derives 10% or more of its revenues. The Company monitors concentrations within three broad categories: industry, product, and collateral. The Company's loan portfolio includes significant credit exposure to the CRE market. As of December 31, 2020 and 2019, CRE related loans accounted for approximately 38% and 45% of total loans, respectively. Substantially all of these loans are secured by first liens with an initial loan-to-value ratio of generally not more than 75%. Approximately 28% and 31% of these CRE loans, excluding construction and land loans, were owner-occupied as of December 31, 2020 and 2019, respectively.
Contingencies
The Company is involved in various lawsuits of a routine nature that are being handled and defended in the ordinary course of the Company’s business. Expenses are being incurred in connection with these lawsuits, but in the opinion of management, based in part on consultation with outside legal counsel, the resolution of these lawsuits and associated defense costs will not have a material impact on the Company’s financial position, results of operations, or cash flows.

Dates Referenced Herein   and   Documents Incorporated by Reference

This ‘10-K’ Filing    Date    Other Filings
Filed on:2/25/214
For Period end:12/31/20
1/1/20
12/31/1910-K,  5
 List all Filings 

8 Subsequent Filings that Reference this Filing

  As Of               Filer                 Filing    For·On·As Docs:Size             Issuer                      Filing Agent

 2/28/22  Western Alliance Bancorporation   424B5                  2:464K                                   Donnelley … Solutions/FA
 9/16/21  Western Alliance Bancorporation   424B5                  1:656K                                   Donnelley … Solutions/FA
 9/15/21  Western Alliance Bancorporation   424B5                  1:663K                                   Donnelley … Solutions/FA
 6/04/21  Western Alliance Bancorporation   424B5                  1:692K                                   Donnelley … Solutions/FA
 6/03/21  Western Alliance Bancorporation   424B5                  1:482K                                   Donnelley … Solutions/FA
 6/03/21  Western Alliance Bancorporation   424B5                  1:693K                                   Donnelley … Solutions/FA
 5/14/21  Western Alliance Bancorporation   S-3ASR      5/14/21    4:464K                                   Donnelley … Solutions/FA
 3/01/21  Western Alliance Bancorporation   424B5                  1:405K                                   Donnelley … Solutions/FA

16 Previous Filings that this Filing References

  As Of               Filer                 Filing    For·On·As Docs:Size             Issuer                      Filing Agent

 2/16/21  Western Alliance Bancorporation   8-K:1,7,9   2/16/21   15:3.9M
 6/01/20  Western Alliance Bancorporation   8-K:8,9     6/01/20   12:349K                                   Donnelley … Solutions/FA
 5/22/20  Western Alliance Bancorporation   8-K:1,2,9   5/22/20   14:345K
 3/02/20  Western Alliance Bancorporation   10-K       12/31/19  153:37M
 4/30/19  Western Alliance Bancorporation   10-Q        3/31/19   93:23M
 3/01/19  Western Alliance Bancorporation   10-K       12/31/18  149:35M
 5/05/17  Western Alliance Bancorporation   8-K:5,9     5/01/17    3:176K
 3/01/17  Western Alliance Bancorporation   10-K/A     12/31/16    4:129K
 6/16/16  Western Alliance Bancorporation   8-K:8,9     6/09/16    7:765K                                   Donnelley … Solutions/FA
 7/02/15  Western Alliance Bancorporation   S-8         7/02/15    4:314K
 7/02/15  Western Alliance Bancorporation   8-K:1,2,8,9 6/29/15    3:74K                                    Donnelley … Solutions/FA
 5/22/15  Western Alliance Bancorporation   8-K:5,9     5/19/15    3:236K
 5/07/15  Western Alliance Bancorporation   S-3ASR      5/07/15    6:1.2M                                   Donnelley … Solutions/FA
 6/03/14  Western Alliance Bancorporation   8-K:3,5,9   5/29/14    8:492K                                   Donnelley … Solutions/FA
 8/25/10  Western Alliance Bancorporation   8-K:1,2,8,9 8/25/10    5:610K                                   Donnelley … Solutions/FA
 4/28/05  Western Alliance Bancorporation   S-1                   12:2.2M                                   Donnelley … Solutions/FA
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Filing Submission 0001212545-21-000085   –   Alternative Formats (Word / Rich Text, HTML, Plain Text, et al.)
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