Western Alliance (WAL) reported Q3 2026 net income of $277.2M, up 6.4% year over year, and diluted EPS of $2.45, up 7.5%, on net revenue of $1.0B, up 8.1%. Nonaccrual loans fell 14% to $485M, ACL coverage rose to 118%, and net interest margin expanded 4 basis points to 3.57%. Total deposits held roughly flat at $81.8B as commercial banking growth offset deliberate reductions in higher-cost ECR-related deposits, and the company repurchased $92.1M of shares during the quarter. Guidance for 2026 net interest income growth was lowered to 11%–12% and deposit growth to $3.5B–$4B, while noninterest income growth guidance was raised to 18%–21%. Management warned that warehouse lending may be restrained by seasonal softness in Q4 and elevated rates weighing on mortgage demand.
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