Western Alliance Bancorp posts $11.3M profit
Western Alliance Bancorp, parent of Bank of Nevada, Friday posted a first-quarter profit that was slightly below analysts' expectations at net income of $11.3 million, or 12 cents a share.
The first-quarter profit was more than double the $5.2 million, or 3 cents a share, during the same period a year earlier.
Analysts surveyed by Yahoo Finance expected earnings of 14 cents a share in the first quarter.
In September, the bank received $141 million from the U.S. Department of Treasury's Small Business Lending Fund. Shares of Western Alliance gained 33 cents, or 3.89 percent, to close at $8.81 on the New York Stock Exchange.
Contact reporter Chris Sieroty at csieroty@reviewjournal.com or 702-477-3893.
