Western Alliance: 1Q Earnings Snapshot

PHOENIX (AP) _ Western Alliance Bancorp (WAL) on Thursday reported first-quarter earnings of $84 million.

The bank, based in Phoenix, said it had earnings of 83 cents per share.

The results topped Wall Street expectations. The average estimate of six analysts surveyed by Zacks Investment Research was for earnings of 38 cents per share.

The bank holding company posted revenue of $312.3 million in the period. Its revenue net of interest expense was $274.1 million, which did not meet Street forecasts. Five analysts surveyed by Zacks expected $282.8 million.

Western Alliance shares have dropped 51% since the beginning of the year. The stock has dropped 38% 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