PHOENIX (AP) — PHOENIX (AP) — Western Alliance Bancorp (WAL) on Thursday reported fourth-quarter earnings of $147.9 million.
The Phoenix-based bank said it had earnings of $1.33 per share. Earnings, adjusted for non-recurring costs, came to $1.91 per share.
The results missed Wall Street expectations. The average estimate of nine analysts surveyed by Zacks Investment Research was for earnings of $1.93 per share.
The bank holding company posted revenue of $1.13 billion in the period. Its revenue net of interest expense was $691.3 million, also missing Street forecasts. Six analysts surveyed by Zacks expected $706 million.
For the year, the company reported profit of $722.4 million, or $6.54 per share. Revenue was reported as $2.66 billion.
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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
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