NYSE: WAL-PA

LoansDeposits

(in millions)

Western Alliance BankPhoenix,

Arizona
Arizona: Chandler, Flagstaff, Gilbert, Mesa, Phoenix, Scottsdale, and Tucson
$92,736 $61,714 $77,639

Nevada: Carson City, Fallon, Henderson, Las Vegas, Mesquite, Reno, and Sparks

California: Beverly Hills, Carlsbad, Costa Mesa, Irvine, La Mesa, Los Angeles, Oakland, Pleasanton, San Diego, San Francisco, San Jose, and Woodland Hills

Other: Atlanta, Georgia; Austin, Houston, and Irving, Texas; Boston, Massachusetts; Chicago, Illinois; Columbus, Ohio; Denver, Colorado; Minneapolis, Minnesota; New York, New York; Seattle, Washington; and Tysons, Virginia

WAB has the following operating subsidiaries:

•WABT holds certain investment securities, municipal and non-profit loans, and leases.

•WA PWI holds interests in certain limited partnerships invested primarily in low income housing tax credits and small business investment corporations.

•BW Real Estate, Inc. operates as a real estate investment trust and holds certain of WAB's real estate loans and related securities.

•Helios Prime, Inc. holds interests in certain limited partnerships invested in renewable energy projects.

•Western Finance Company purchases and originates equipment finance leases and provides mortgage banking services through its wholly-owned subsidiary, AmeriHome.

•DST provides digital payments services for the class action legal industry.

Market Segments

The Company's operating segments are aggregated with a focus on products and services offered and consist of three reportable segments:

•Commercial: provides commercial banking and treasury management products and services to small and middle-market businesses, specialized banking services to sophisticated commercial institutions and investors within niche industries, as well as financial services to the real estate industry.

•Consumer Related: offers commercial banking services to enterprises in consumer-related sectors, as well as consumer banking services, such as residential mortgage banking.

•Corporate & Other: consists of the Company's investment portfolio, Corporate borrowings and other related items, income and expense items not allocated to other reportable segments, and inter-segment eliminations.

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Loan and deposit accounts are typically assigned directly to the segments where these products are originated and/or serviced. Equity capital is assigned to each segment based primarily on the risk profile of their assets and liabilities. Any excess equity not allocated to segments based on risk is assigned to the Corporate & Other segment.

Net interest income, provision for credit losses, and non-interest expense amounts are recorded in their respective segments to the extent the amounts are directly attributable to those segments. Net interest income of a reportable segment includes a funds transfer pricing process that matches assets and liabilities with similar interest rate sensitivity and maturity characteristics. Using this funds transfer pricing methodology, liquidity is transferred between users and providers. Net income amounts for each reportable segment are further derived by the use of expense allocations. Certain expenses not directly attributable to a specific segment are allocated across all segments based on key metrics, such as number of employees, number of transactions processed for loans and deposits, and average loan and deposit balances. Income taxes are applied to each segment based on the effective tax rate for the geographic location of the segment. Any difference in the corporate tax rate and the aggregate effective tax rates in the segments are reflected in the Corporate & Other segment.

Lending Activities

General

Through WAB and its operating subsidiaries, the Company provides a variety of lending products to customers, including the loan types discussed below.

Commercial and Industrial: Commercial and industrial loans comprise 48% and 43% of the Company's HFI loan portfolio as of December 31, 2025 and 2024, respectively. These loans include working capital lines of credit, loans to technology companies, inventory and accounts receivable lines, mortgage warehouse lines, and other commercial loans. Equipment loans and leases and loans to tax-exempt municipalities and not-for-profit organizations are also categorized as commercial and industrial loans. A subset of commercial and industrial loans consist of loans to NDFIs, which, as defined by regulatory guidance, are entities that provide services similar to traditional banks but do not accept deposits from the general public and are not regulated by Federal banking agencies.

Residential: Residential loans comprise 25% and 27% of the Company's loan portfolio as of December 31, 2025 and 2024, respectively. The Company executes flow and bulk residential loan purchases that meet the Company's goals and underwriting criteria through its residential mortgage acquisition program. These loan purchases consist of both conforming and non-conforming loans. Non-conforming loan purchases are generally limited to borrowers with high FICO scores and loans with low loan-to-value ratios.

CRE: Loans to fund the purchase or refinancing of CRE for investors (non-owner occupied) or owner occupants represent 20% and 22% of the Company's loan portfolio as of December 31, 2025 and 2024, respectively. These CRE loans are secured by multi-family residential properties, professional offices, industrial facilities, retail centers, hotels, and other commercial properties. Approximately $2.1 billion, or 3.7%, of total loans HFI consisted of CRE non-owner occupied office loans as of December 31, 2025, compared to $2.3 billion, or 4.4%, as of December 31, 2024. These office loans primarily consist of shorter-term bridge loans that enable borrowers to reposition or redevelop projects with more modern standards attractive to in-office employers in today’s environment, including enhanced on-site amenities. The vast majority of these projects are located in suburban locations with central business district and midtown exposure of less than 1% and 10% of office loans, respectively.

The office loan portfolio largely consists of value-add loans that require significant up-front cash equity contributions from institutional sponsors and large regional and national developers. The properties underlying these loans have stable business trends and low vacancy rates. In addition to adhering to conservative underwriting standards, asset-specific credit risk is mitigated through continued sponsor support of projects by re-appraisal rights by the Company, re-margining requirements and ongoing debt service, and debt yield covenants. To a large extent, the financing structures of these loans do not carry junior liens or mezzanine debt, which enables maximum flexibility when working with clients and sponsors.

Substantially all of the Company's remaining CRE loans are secured by first liens with an initial loan-to-value ratio of generally not more than 75%. As of December 31, 2025 and 2024, 14% and 16% of the Company's CRE loans were owner occupied, respectively. Owner occupied CRE loans are loans secured by owner occupied non-farm nonresidential properties for which the primary source of repayment (more than 50%) is the cash flow from the ongoing operations and activities conducted by the borrower who owns the property. Non-owner occupied CRE loans are CRE loans for which the primary source of repayment is rental income generated from the collateral property.

Construction and Land Development: Construction and land development loans comprise 7% and 8% of the Company's loan portfolio as of December 31, 2025 and 2024, respectively. This portfolio includes single family and multi-family residential

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projects, industrial/warehouse properties, office buildings, retail centers, medical office facilities, and residential lot developments. These loans are primarily originated to experienced local and national developers with whom the Company has a satisfactory lending history. An analysis of each construction project is performed as part of the underwriting process to determine whether the type of property, location, construction costs, and contingency funds are appropriate and adequate. Loans to finance commercial raw land are primarily to borrowers who plan to initiate active development of the property within two years.

Consumer: Limited types of consumer loans are offered to meet customer demand and to respond to community needs. Examples of these consumer loans include home equity loans and lines of credit, home improvement loans, personal lines of credit, and loans to individuals for investment purposes.

At December 31, 2025, the Company's HFI loan portfolio totaled $58.7 billion, or approximately 63% of total assets. The following table sets forth the composition of the Company's HFI loan portfolio:

December 31,

20252024

AmountPercentAmountPercent

(dollars in millions)

Commercial and industrial$27,928 47.6 %$23,128 43.1 %

Commercial real estate - non-owner occupied10,340 17.6 9,868 18.4

Commercial real estate - owner occupied1,683 2.9 1,825 3.4

Construction and land development4,055 6.9 4,479 8.3

Residential real estate14,652 25.0 14,326 26.7

Consumer19 0.0 50 0.1

Loans HFI, net of deferred loan fees and costs$58,677 100.0 %$53,676 100.0 %

Allowance for credit losses(461)(374)

Net loans HFI$58,216 $53,302

For additional information regarding loans, see "Note 4. Loans, Leases and Allowance for Credit Losses" in Item 8 or "Management's Discussion and Analysis of Financial Condition and Results of Operations – Results of Operations and Financial Condition – Loans" in Item 7 of this Form 10-K.

The Company adheres to a specific set of credit standards intended to ensure appropriate management of credit risk. Furthermore, the Bank's senior management team plays an active role in monitoring compliance with such standards.

Loan originations are subject to a process that includes the credit evaluation of borrowers, utilizing established lending limits, collateral analysis, and procedures for continual monitoring and identification of credit deterioration. Loan officers actively monitor their individual credit relationships in order to report suspected risks and potential downgrades as early as possible as the Company's credit monitoring strategy continues to be focused on early identification and elevation of potential problem loans. These efforts include increased frequency of meetings with business line owners, early engagement of the Company's special assets group, and inclusion of pass grade loans with a potential for downgrade in asset quality and problem loan meeting discussions. The BOD approves all material changes to loan policy, as well as lending limit authorities. The Bank's lending policies generally incorporate consistent underwriting standards across all geographic regions in which the Bank operates, customized as necessary to conform to state law and local market conditions. The Bank's credit culture emphasizes timely identification of troubled credits allowing management to take prompt corrective action, when necessary.

Loan Approval Procedures and Authority

The Company's loan approval procedures are executed through a tiered loan limit authorization process, which is structured as follows:

•Individual Credit Authorities. The credit approval levels for individual credit officers are set by policy and certain credit officers' approval authorities are established on a delegated basis.

•SLC Subcommittees. Credits in excess of individual credit authorities but less than SLC approval thresholds are submitted to the appropriate subcommittee. The Company's loan committee structures are aligned with a product focus, namely CRE and C&I loan committees, to help ensure consistency in underwriting, portfolio management, and loan monitoring metrics. The subcommittees consist of members of the Bank's senior management and senior credit officers.

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•SLC. Credits in excess of subcommittee approval authority require the approval of the Bank's SLC, which has the highest level of credit approval authority. SLC membership includes the CEO and other senior executives appointed by the CEO and is chaired by the Bank's CCO.

Loans to One Borrower. In addition to the limits set forth below, subject to certain exceptions, state banking laws generally limit the amount of funds a bank may lend to a single borrower. Under Arizona law, the obligations of one borrower to a bank generally may not exceed 20% of the Bank’s capital, plus an additional 10% of its capital if the additional amounts are fully secured by readily marketable collateral. Arizona law does not specifically require aggregation of loans to affiliated entities in determining compliance with the lending limit. As a matter of longstanding practice, the Arizona Department of Insurance and Financial Institutions uses the same aggregation analysis as applied to national banks by the OCC.

Concentrations of Credit Risk. The Company's lending policies also establish customer and product concentration limits for its HFI and HFS loan portfolios, which are based on outstanding amounts, to control single customer and product exposures. The Company's lending policies have several different measures to limit concentration exposures. Set forth below are the primary segmentation limits and actual measures based on outstanding amounts as of December 31, 2025:

Percent of Tier 1 Capital and ACL (1)

Policy LimitActual

Loans HFI

CRE non-owner occupied185 %127 %

CRE owner occupied45 21

Commercial and industrial550 344

Construction and land development85 50

Residential real estate260 180

Consumer7 0

Loans HFS

Residential real estate60 42

(1) ACL refers to the allowance for credit losses on funded loans.

Asset Quality

General

To measure asset quality, the Company has instituted a loan grading system consisting of nine different categories. The first five are considered satisfactory "pass" ratings. The other four "non-pass" grades range from a “Special Mention” category to a “Loss” category and are consistent with the grading systems used by federal banking regulators. All loans are assigned a credit risk grade at the time they are made and formally reviewed on a quarterly basis as part of the Company's loan grade certification process to identify loans that may be exhibiting early-warning signs of credit stress and determine whether a change in the credit risk grade is warranted. In addition, the grading of the Company's loan portfolio is reviewed on a regular basis by its internal loan review department.

Collection Procedure

Bank personnel are responsible for monitoring activity that may indicate an increased risk rating, including, but not limited to, past due payments, overdrafts, and loan agreement covenant defaults related to its commercial borrowers. If a commercial borrower fails to make a scheduled payment on a loan, Bank personnel attempt to remedy the deficiency by contacting the borrower and seeking payment. Contact is generally made within 15 business days after the payment becomes past due. The Bank also maintains a special assets department, which generally services and collects loans rated Substandard or worse. Loans deemed uncollectible are charged-off.

Nonperforming Assets

Nonperforming assets include loans past due 90 days or more and still accruing interest (that are not government guaranteed), nonaccrual and accruing restructured loans, and repossessed assets, including OREO. In general, loans are placed on nonaccrual status when the Company determines ultimate collection of principal and interest is in doubt due to the borrower’s financial condition, collateral value, and collection efforts. In addition, the Company considers all loans rated Substandard or worse to be experiencing financial difficulty. A restructured loan is a loan modification for a borrower experiencing financial difficulty. Other repossessed assets result from loans where the Company has received title or physical possession of the borrower’s assets. The Company generally re-appraises OREO and collateral dependent non-residential loans with balances greater than $0.5 million every 12 months.

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Criticized Assets

Federal bank regulators require banks to classify their assets on a regular basis. In addition, in connection with their examinations of the Bank, examiners have authority to identify problem assets and, if appropriate, re-classify them. A loan grade of "Special Mention" from the Company's internal loan grading system is utilized to identify potential problem assets and loan grades of "Substandard," "Doubtful," and "Loss" are utilized to identify actual problem assets.

The following describes the potential and actual problem assets using the Company's internal loan grading system definitions:

•"Special Mention" (Grade 6): Generally these are assets that possess potential weaknesses that warrant management's close attention. These loans may involve borrowers with adverse financial trends, higher debt to equity ratios, or weaker liquidity positions, but not to the degree of being considered a “problem loan” where risk of loss may be apparent. Loans in this category are usually performing as agreed, although there may be non-compliance with financial covenants.

•“Substandard” (Grade 7): These assets are characterized by well-defined credit weaknesses and carry the distinct possibility the Company will sustain some loss if such weakness or deficiency is not corrected. All loans 90 days or more past due and all loans on nonaccrual status are considered at least "Substandard," unless extraordinary circumstances would suggest otherwise.

•“Doubtful” (Grade 8): These assets have all the weaknesses inherent in those classified as "Substandard" with the added characteristic that the weaknesses present make collection or liquidation in full, on the basis of currently existing facts, conditions and values, highly questionable and improbable, but because of certain known factors which may work to the advantage and strengthening of the asset (for example, capital injection, perfecting liens on additional collateral and refinancing plans), classification as an estimated loss is deferred until a more precise status may be determined.

•“Loss” (Grade 9): These assets are considered uncollectible and having such little recoverable value that it is not practical to defer writing off the asset. This classification does not mean the loan has absolutely no recovery or salvage value, but rather it is not practicable or desirable to defer writing off the asset, even though partial recovery may be achieved in the future.

Allowance for Credit Losses

The provision for credit losses in each period is reflected as a reduction in earnings for that period and includes amounts related to funded loans, unfunded loan commitments, and investment securities. The provision is equal to the amount required to maintain the ACL at a level adequate to absorb estimated lifetime credit losses inherent in the loan and investment securities portfolios as well as off-balance sheet credit exposures. Charge-offs are recorded as a reduction to the ACL and subsequent recoveries of previously charged-off amounts are credited to the ACL. The ACL on funded loans and investment securities are presented as a reduction to the respective asset balance on the Consolidated Balance Sheet. The ACL on unfunded loan commitments is classified in Other liabilities on the Consolidated Balance Sheet. For a detailed discussion of the Company’s methodology see “Management’s Discussion and Analysis and Financial Condition – Critical Accounting Estimates – Allowance for Credit Losses” in Item 7 of this Form 10-K.

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Investment Activities

The Company has an investment policy, which is approved by the BOD on an annual basis. This policy dictates that investment decisions be made based on the safety of the investment, liquidity requirements of the Bank and holding company, potential returns, cash flow targets, and consistency with the Company's interest rate risk management. The Bank’s ALCO is responsible for making securities portfolio decisions in accordance with established policies. The CFO and Treasurer have the authority to purchase and sell securities within specified guidelines. All investment transactions for the Bank and for the holding company during the year ended December 31, 2025 were reviewed by the ALCO and BOD.

The Company's investment policy limits new securities purchases to certain eligible investment types and, in the aggregate, are further subject to the following quantitative limits of the Bank, which are calculated as a percent of CET1, as of December 31, 2025:

Securities CategoryPolicy LimitActual

Held-to-maturity

Tax-exempt low income housing development bonds35.0 %19.1 %

Available-for-sale debt and equity securities

CLO57.5 36.8

Corporate debt securities10.0 4.1

High quality liquid assets:

Non‐GNMA52.5 33.2

GNMA110.0 75.7

Private label residential MBS25.0 15.9

Municipal securities and tax-exempt low income housing development bonds20.0 12.1

U.S. Treasury securities and agency notes with a duration greater than 3 years (1)35.0 —

CRA5.0 1.0

Preferred stock5.0 0.7

(1) Includes the impact of fixed to floating fair value hedges on U.S. Treasury Securities. There is no investment policy limit for purchases of U.S. Treasury securities with a duration less than 3 years.

The Company's policies also govern the use of derivatives, and provide that the Company prudently use derivatives in accordance with applicable regulations as a risk management tool to reduce the overall exposure to interest rate risk, and not for speculative purposes.

The Company's investment securities portfolio includes debt and equity securities. Debt securities are classified as AFS or HTM pursuant to ASC Topic 320, Investments, and ASC Topic 825, Financial Instruments. Equity securities are reported at fair value in accordance with ASC Topic 321, Equity Securities. For further discussion of significant accounting policies related to the Company's investment securities portfolio refer to "Note 1. Summary of Significant Accounting Policies" in Item 8 of this Form 10-K.

As of December 31, 2025, the Company's investment securities portfolio totaled $20.5 billion, representing approximately 22% of the Company's total assets, with a significant portion of the portfolio invested in AAA/AA rated securities. The average duration, which is a measure of the interest rate sensitivity of the Company's debt securities portfolio, is 5.1 years as of December 31, 2025.

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The following table summarizes the carrying value of the Company's investment securities:

December 31,

20252024

AmountPercentAmountPercent

(dollars in millions)

Debt securities

Residential MBS issued by GSEs and GNMA$7,230 35.3 %$5,831 38.6 %

U.S. Treasury securities5,970 29.2 4,383 29.0

CLO2,747 13.4 570 3.8

Tax-exempt2,221 10.9 2,195 14.5

Private label residential MBS1,204 5.9 1,123 7.4

Commercial MBS issued by GSEs and GNMA635 3.1 437 2.9

Corporate debt securities297 1.5 386 2.6

Other68 0.3 69 0.4

Total debt securities$20,372 99.6 %$14,994 99.2 %

Equity securities

Preferred stock52 0.3 91 0.6

CRA investments27 0.1 26 0.2

Total equity securities$79 0.4 %$117 0.8 %

Total Investment Securities$20,451 100.0 %$15,111 100.0 %

The Company also holds investments in BOLI, which is used as a tax efficient method to help offset employee benefit costs. As of December 31, 2025 and 2024, the Company's investments in BOLI totaled $1.1 billion and $1.0 billion, respectively.

For additional information concerning investments, see “Management’s Discussion and Analysis of Financial Condition and Results of Operations – Results of Operations and Financial Condition – Investments” in Item 7 of this Form 10-K.

Deposit Products

The Company offers a variety of deposit products, including demand deposits, checking, savings, money market, and other types of deposit accounts, including fixed-rate, fixed maturity certificates of deposit. The Company has historically focused on growing its lower cost core customer deposits. Recently, the Company has also focused on expanding into new deposit channels, including online consumer focused deposit initiatives. As of December 31, 2025, the Company's deposit portfolio was comprised of 32% non-interest-bearing deposits and 68% interest-bearing deposits.

The competition for deposits in the Company's markets is strong. The Company has historically been successful in attracting and retaining deposits due to several factors, including its:

•knowledgeable and empowered bankers committed to providing personalized and responsive service that translates into long lasting relationships;

•broad selection of cash management services offered; and

•incentives to employees for business development and retention.

Deposit balances are generally influenced by national and local economic conditions, changes in prevailing interest rates, competitiveness of offered rates, perceived stability of financial institutions, and competition. In order to attract and retain deposits, the Company relies on providing quality service and introducing new products and services that meet the needs of its customers.

The Bank's deposit rates are determined through an internal oversight process under the direction of its ALCO. The Bank considers a number of factors when determining deposit rates, including:

•current and projected national and local economic conditions and the outlook for interest rates;

•competition for deposits;

•loan and deposit positions and forecasts, including any concentrations in either; and

•alternative borrowing costs from the FHLB or other sources.

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The following table shows the Company's deposit composition:

December 31,

20252024

AmountPercentAmountPercent

(dollars in millions)

Non-interest-bearing demand deposits$24,353 31.6 %$18,846 28.4 %

Interest-bearing transaction accounts18,416 23.9 15,878 23.9

Savings and money market accounts24,586 31.9 21,208 32.0

Time certificates of deposit ($250,000 or more)2,276 2.9 1,640 2.5

Other time deposits (1)7,528 9.7 8,769 13.2

Total deposits$77,159 100.0 %$66,341 100.0 %

(1) Retail brokered time deposits over $250,000 of $4.3 billion and $5.6 billion as of December 31, 2025 and 2024, respectively, are included within Other time deposits as these deposits are generally participated out by brokers in shares below the FDIC insurance limit.

Although the Company does not pay interest to depositors of non-interest-bearing accounts, earnings credits are awarded to certain customers, which can be used to offset applicable bank charges, and in certain cases, loan interest. Earnings credits in excess of these amounts are recorded in Deposit costs as part of non-interest expense in the Consolidated Income Statement. The Company also pays referral fees for certain interest bearing or non-interest bearing deposits that are referred to the Bank, which are also classified as Deposit costs. Earnings credits and referral fees fluctuate as a result of eligible deposit balances and applicable rates on these deposit balances.

In addition to the Company's deposit base, it has access to other sources of funding, including FHLB and FRB advances, Federal funds purchased, repurchase agreements, and secured and unsecured lines of credit with other financial institutions. Previously, the Company has also accessed the capital markets through trust preferred, credit linked note, and subordinated debt offerings. For additional information concerning the Company's deposits, see “Management’s Discussion and Analysis of Financial Condition and Results of Operations – Balance Sheet Analysis – Deposits” in Item 7 of this Form 10-K.

Other Financial Products and Services

In addition to traditional commercial banking activities, the Company offers other financial services to its customers, including internet banking, wire transfers, electronic bill payment and presentment, funds transfer and other digital payment offerings, lock box services, courier, and cash management services.

Customer, Product, and Geographic Concentrations

Commercial and industrial loans make up 48% and 43% of the Company's HFI loan portfolio as of December 31, 2025 and 2024, respectively. Residential loans comprise 25% and 27% of the Company's HFI loan portfolio as of December 31, 2025 and 2024, respectively. In addition, 27% and 30% of the Company's HFI loan portfolio at December 31, 2025 and 2024, respectively, was represented by CRE and construction and land development loans. The Company’s CRE business is concentrated primarily in the Company's core footprint states: Arizona, California, and Nevada. Consequently, the Company is dependent on the trends of these regional economies.

The Company is not dependent upon any single or limited number of customers, the loss of which would have a material adverse effect on the Company. Neither the Company nor any of its reportable segments have customer relationships that individually account for 10% or more of consolidated or segment revenues. No material portion of the Company’s lending business is seasonal. However, seasonality in the Company's mortgage warehouse deposits may impact lending activities.

Competition

The financial services industry is highly competitive and has been significantly impacted by technology and regulatory conditions that makes it easier for non-bank financial institutions to compete with the Company. The Company competes for loans, deposits, and customers with other banks, mortgage companies, insurance companies, finance companies, financial technology firms, and other non-bank financial services providers. This strong competition for deposit and loan products directly affects the interest rates on those products and the terms on which they are offered to customers. In addition, many of the Company's competitors are much larger in total assets and capitalization and are able to offer a broader range of financial services than the Company can offer. Technological innovation and capabilities, including changes in product delivery systems and web-based tools, also continue to contribute to greater competition in domestic and international financial services markets and larger competitors may be able to allocate more resources to these technology initiatives.

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Human Capital Resources

People are the foundation of the Company and we invest in their success. Our people are committed to our clients’ success and, by putting clients first, we create strong stockholder performance. This leads to tremendous possibilities to fuel client growth and support our communities, and in turn provide expanding opportunities to attract and retain our people.

As of December 31, 2025, the Company employed 3,769 full-time equivalent employees, an increase of 7% from December 31, 2024. The Company’s employees are not represented by a union or covered by a collective bargaining agreement.

The Company is committed to giving back to the communities where it does business and strives to help low-to-moderate income geographies become healthier and more sustainable communities. Employees are encouraged to contribute their time and expertise to charitable and civic organizations they are passionate about. The Company is also committed to providing financial support for education, affordable housing, and community development lending and investments.

Recruiting, Retention, Talent Development and Succession

The Company recognizes that its people are its most important asset and is committed to attracting, retaining, and developing exceptional talent. The success of the business depends on hiring and retaining highly qualified and motivated people at all levels. Our people are part of a dynamic and diverse workforce and the Company provides equal opportunity in all aspects of employment. Retaining a qualified workforce of key contributors with a range of backgrounds and experiences remains an important objective.

As a growing company, we endeavor to recruit individuals motivated to contribute, innovate, and build long‑term careers. The Company prioritizes internal mobility and professional development through training, mentorship, succession planning, and career development resources. The Company also builds talent pipelines by engaging with community and educational institutions and recruiting individuals representative of the communities it serves.

Our talent development strategy is anchored in three core areas: early career development, professional development, and leadership development. This approach ensures that we build a strong and sustainable pipeline of talent at every career stage. We invest early in future talent through programs designed to attract, engage, and develop individuals at the beginning of their careers. To support early career development, the Company has established three early talent identification programs: a college internship program, the CBDP, and iLEAD. Each program is designed to strengthen management’s ability to identify and promote growth pathways for future leaders. The internship program creates opportunities to engage and recruit university talent, build early connections to the Company, and strengthen the long‑term talent pipeline. CBDP supports recent college graduates by preparing them for credit and commercial banking roles. iLEAD develops MBA graduates with prior professional experience by providing exposure to the Company while supporting process optimization and adding high‑performing talent to the pipeline of future leaders.

The Company emphasizes continuous learning and personalized growth at all career stages. Through defined core competencies and structured development planning, individuals build skills through on-the-job experiences, targeted coursework, and formal development programs. The development planning process enables individuals to tailor their learning journey to their unique goals and needs. The Company supports this growth through online learning programs and workshops, mentoring opportunities, tuition reimbursement, and internal webinars featuring speakers from across the organization who share insights and success stories from their business lines, divisions, and functional areas. Our people take an active role in managing their careers, and through the annual performance management process, they identify individual development goals and create action plans to achieve them.

The Company supports leadership development and succession planning through targeted programs, including mentoring initiatives for emerging leaders, an executive sponsorship program for identified successors to senior leadership roles, and a senior leadership development program for leaders one level below the C‑suite. These efforts are designed to build leadership capability, support organizational growth, and identify future leaders.

Culture and Engagement

The Company’s culture is defined by its corporate values of integrity, creativity, teamwork, passion, and excellence. People, Performance, and Possibilities capture the Company’s defining values and behaviors that shape our unique culture and how we do business. These values guide how we conduct our business, support our people, and serve our clients each day. Through intentionally designed programs and experiences, we promote a culture in which employees feel connected, supported, and empowered.

To support the various perspectives, experiences, and interests our people bring to the Company and to our customers, we proudly sponsor ten Business Resource Groups. Built on the three foundational pillars of education, professional development,

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and community engagement, these groups create opportunities for employees to connect across teams and regions. The Business Resource Groups are sponsored by an executive‑led Opportunity Council that provides access to leadership and ensures alignment with the Company’s business objectives of fostering belonging, strengthening the talent pipeline, engaging employees, and reinforcing the Company’s corporate values.

To ensure we remain aligned with our cultural commitments, we also regularly conduct engagement surveys. These surveys provide valuable insight into sentiment and create an ongoing feedback loop, allowing us to listen, respond, and continuously improve the people experience.

An integral part of our culture is recognizing and celebrating the success of our employees. The Company implemented a “Culture Champion” recognition program to encourage, recognize, reinforce and celebrate employees who demonstrate, support and cultivate the values, attitudes and behaviors associated with the Company’s culture. Culture Champions are nominated quarterly from around the Company and from across the organization. The award recipients are recognized publicly at the Company’s quarterly CEO Townhall meeting and are invited to meet with a Company leader. In addition, the Company’s CEO regularly recognizes teams by name for their excellence with “People Behind the Numbers” emails.

Compensation and Benefits

The Company’s compensation and benefits programs are designed to attract, retain, motivate, and reward employees to deliver strong performance and excellence. In addition to salaries, these programs include annual bonuses, stock awards, a 401(k) Plan with an employer matching contribution, healthcare, life insurance and other benefits, health savings and flexible spending accounts, and various paid time off benefits. Throughout the organization, 95% of employees participate in the annual bonus plan or are eligible to receive business incentives.

Health and Wellness

The Company is committed to supporting the wellness of its people, to enable their personal and professional productivity, improve physical and mental well-being, and provide support for optimal health at work and at home. To support these efforts, the Company has established Wellness Committees to engage its people in well-being initiatives that provide opportunities for employees to develop healthier lifestyles by promoting habits and attitudes that support wellness.

Human Capital Metrics

The table below presents the percentage of Company's workforce that identified as part of an ethic minority group or were women:

December 31,

202520242023

(as a percentage of total employees)

Employees belonging to an ethnic minority group46 %45 %44 %

Female employees48 50 51

The table below presents the Company's overall employee turnover rate, excluding the impact of any reductions in workforce during the period:

Year ended December 31,

202520242023

Turnover Rate12 %15 %14 %

The table below presents the Company's employee turnover rate by age group, excluding the impact of any reductions in workforce during the period:

Year ended December 31,

Turnover Rate by Age Group202520242023

Under 3011 %19 %18 %

Between 30-5011 14 14

Over 5012 15 14

In 2025, the Company's turnover rate was highest among employees in the Over 50 age group, compared to both 2024 and 2023, where the turnover rate was highest among employees in the Under 30 age group.

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Supervision and Regulation

The Company and its subsidiaries are extensively regulated and supervised under both federal and state laws. A summary description of the laws and regulations that relate to the Company’s operations are discussed in Supervision and Regulation within Item 7 of this Form 10-K.

Additional Available Information

The Company maintains an internet website at http://www.westernalliancebancorporation.com. The Company makes available its annual reports on Form 10-K, quarterly reports on Form 10-Q, current reports on Form 8-K and amendments to such reports filed or furnished pursuant to Sections 13(a) and 15(d) of the Exchange Act and other information related to the Company free of charge, through this site, as soon as reasonably practicable after it electronically files those documents with, or otherwise furnishes them to the SEC. The SEC maintains an internet site at http://www.sec.gov, from which all forms filed electronically may be accessed. The Company’s internet website and the information contained therein are not incorporated into this Form 10-K.

In addition, copies of the Company’s annual report will be made available, free of charge, upon written request.

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