Yahoo Finance

PHOENIX (AP) — PHOENIX (AP) — Western Alliance Bancorp (WAL) on Monday reported first-quarter net income of $199.1 million.

The Phoenix-based bank said it had earnings of $1.79 per share.

The results beat Wall Street expectations. The average estimate of six analysts surveyed by Zacks Investment Research was for earnings of $1.78 per share.

The bank holding company posted revenue of $1.22 billion in the period. Its revenue net of interest expense was $788.2 million, which did not meet Street forecasts.

_____

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