Western Alliance Bancorporation (NYSE:WAL) Q3 2023 Earnings Conference Call October 20, 2023 12:00 PM ET

Company Participants

Miles Pondelik - Director, Investor Relations and Corporate Development

Kenneth Vecchione - President and CEO

Dale Gibbons - Chief Financial Officer

Timothy Bruckner - Chief Credit Officer

Conference Call Participants

Casey Haire - Jefferies

Steven Alexopoulos - JPMorgan

Chris McGratty - KBW

Bernard von-Gizycki - Deutsche Bank

Brandon King - Truist Securities

Ebrahim Poonawala - Bank of America

Matthew Clark - Piper Sandler

Gary Tenner - D.A. Davidson

Andrew Terrell - Stephens

Timur Braziler - Wells Fargo

David Chiaverini - Wedbush

David Smith - Autonomous Research

Brody Preston - UBS

Jon Arfstrom - RBC

Operator

Good day, everyone. Welcome to Western Alliance Bancorporation's Third Quarter 2023 Earnings Call. You may also view the presentation today via webcast through the company's website at www.westernalliancebancorp.com.

I'd now like to turn the call over to Miles Pondelik, Director of Investor Relations and Corporate Development. Please go ahead.

Miles Pondelik

Thank you. Welcome to Western Alliance Bank's third quarter 2023 conference call. Our speakers today are Ken Vecchione, President and Chief Executive Officer; Dale Gibbons, Chief Financial Officer; and Tim Bruckner, our Chief Credit Officer, will join for Q&A.

Before I hand the call over to Ken, please note that today's presentation contains forward-looking statements, which are subject to risks, uncertainties and assumptions, except as required by law, the company does not undertake any obligation to update any forward-looking statements. For a more complete discussion of the risks and uncertainties that could cause actual results to differ materially from any forward-looking statements, please refer to the company's SEC filings, including the Form 8-K filed yesterday, which are available on the company's website.

Now for opening remarks, I'd like to turn the call all over to Ken Vecchione.

Kenneth Vecchione

Thank you, Miles. Good morning, everyone. I'll make some brief comments about our third quarter 2023 results, and then I'll turn the call over to Dale. One year ago, on our Q3 2022 call, we discussed our plans to temper balance sheet growth to bolster capital and liquidity in order to reinforce our financial foundation and position the bank to navigate through a volatile rate environment. The events of the spring caused by duration mismatch at several regional banks validated the importance of our strategy and accelerated its implementation through surgical balance sheet repositioning. The recalibration of our business model to enhance overall liquidity and deposit granularity is designed to make the balance sheet unassailable in the event of another significant market disruption.