Western Alliance Bancorporation (WAL) Q3 FY2026 earnings: revenue $1.0 billion, up 8.1% on the year

Western Alliance Bancorporation (WAL) announced its results for Q3 FY2026, the quarter ended 30 September 2026, on 19 October 2026. Revenue was $1.0 billion, up 8.1% on the same quarter a year earlier. Net income was $270 million, up 6.6% on the year. The figures are from the company's earnings press release; the 10-Q with the full statements is not filed yet, and this page fills in when it is.

Revenue$1.0 billionup 8.1%

Net income$270 millionup 6.6%

Diluted EPSNot yet

QuarterQ3 FY2026ended 30 September 2026

What management said

Net income and EPS rose year over year: Net income was $277.2 million, up $16.7 million from $260.5 million a year earlier. Diluted EPS was $2.45, up from $2.28. Net income rose $8.4 million from the second quarter.
Net interest margin expanded to 3.57%: Net interest margin was 3.57%, up from 3.53% in the second quarter and the third quarter 2025. Higher asset yields were partly offset by higher costs on interest-bearing liabilities.
Deposit costs fell with optimization: Deposit costs were $165.4 million, down $13.8 million from the second quarter and $9.7 million from a year earlier. Management linked the decline to lower average ECR-related deposit balances.

Read the earnings call summary

The quarter, against the one before and a year earlier

Line	Q3 FY2026	Q2 FY2026	Q3 FY2025	Change on the year
Revenue (net interest income plus noninterest income)	1,014	996	938	+8.1%
Net income	270	262	253	+6.6%
Diluted EPS	n/a	$2.36	$2.28	n/a

$ million except per share.

Q3 FY2026 is from the company's press release of 19 October 2026; the other columns are from its 10-Q and 10-K filings. A release figure is shown when the release's own figure for an earlier quarter matches the filed one, so the line and its units are read right; diluted EPS will come with the 10-Q.

Quarterly results, the last 20 quarters filed

	Q3 FY2021 †	Q4 FY2021 *	Q1 FY2022	Q2 FY2022	Q3 FY2022	Q4 FY2022 *	Q1 FY2023	Q2 FY2023	Q3 FY2023	Q4 FY2023 *	Q1 FY2024	Q2 FY2024	Q3 FY2024	Q4 FY2024 *	Q1 FY2025	Q2 FY2025	Q3 FY2025	Q4 FY2025 *	Q1 FY2026	Q2 FY2026
Revenue	548	561	556	620	664	701	668	431	716	804	729	772	823	838	778	846	938	981	1,019	996
Interest expense	32.4	32.7	35.0	54.6	137	249	359	450	440	447	456	n/a	n/a	n/a	n/a	n/a	n/a	n/a	n/a	n/a
Pre-tax income	302	310	298	324	330	365	185	260	278	211	232	248	252	259	246	291	314	356	231	332
Tax rate	22%	21%	19%	20%	20%	20%	23%	17%	22%	30%	23%	22%	21%	16%	19%	18%	17%	18%	18%	19%
Net income	237	246	240	260	264	293	142	216	217	148	177	194	200	217	199	230	253	286	182	262
Net margin	43%	44%	43%	42%	40%	42%	21%	50%	30%	18%	24%	25%	24%	26%	26%	27%	27%	29%	18%	26%
Diluted EPS	$2.28	$2.32	$2.22	$2.39	$2.42	$2.67	$1.28	$1.96	$1.97	$1.33	$1.60	$1.75	$1.80	$1.95	$1.79	$2.07	$2.28	$2.59	$1.65	$2.36
Operating cash flow	5,230	-5,923	-623	-337	-491	3,696	-357	457	-770	341	-306	-746	-1,068	-622	-1,654	-358	-597	-69.8	-507	-356
Capital expenditure	18.2	37.6	26.2	21.2	36.8	56.8	28.5	32.3	26.2	27.3	18.8	16.2	22.1	26.7	16.6	21.1	28.2	48.4	24.2	19.3
Free cash flow	5,212	-5,961	-649	-358	-528	3,639	-386	425	-796	314	-325	-762	-1,090	-648	-1,671	-379	-626	-118	-531	-375
Buybacks	0.0	0.0	n/a	n/a	n/a	n/a	n/a	n/a	n/a	n/a	n/a	n/a	n/a	n/a	0.0	0.0	10.6	57.5	50.3	2.3
Dividends paid	36.5	40.0	40.5	41.1	42.2	42.4	42.6	42.6	42.6	43.7	43.9	44.0	43.9	45.0	45.0	n/a	n/a	n/a	n/a	n/a
Shares outstanding	104m	107m	108m	108m	109m	110m	110m	110m	109m	110m	110m	110m	110m	110m	110m	110m	110m	110m	109m	109m
Filing	10-Q	10-K	10-Q	10-Q	10-Q	10-K	10-Q	10-Q	10-Q	10-K	10-Q	10-Q	10-Q	10-K	10-Q	10-Q	10-Q	10-K	10-Q	10-Q

Each quarter as filed, linked to its filing.

* The fourth quarter is the full year less the first three quarters, because the company files the year and not the quarter on its own. A fourth quarter's EPS, and its diluted share count where shown, are from the company's results press release for that quarter, checked against the company's filed figures or a second data source. A quarter marked † is shown as the company last restated it in a later filing, so it compares with the quarters around it on one basis; rest on a figure for the one first filed. EPS is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and the share count are as they are. Free cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Cash flow lines filed year to date are the difference between two filings. Shares outstanding are at the period end where the balance sheet tags them, otherwise the count on the filing's cover page. A derived fourth-quarter EPS is left blank when a split in the year makes the arithmetic meaningless.

Earnings press release for the quarter ended 30 September 2026, filed with the SEC on 19 October 2026 with a Form 8-K: the release.