Western Alliance Bancorporation Launches $300M Share Repurchase Program

By Tamara Parker • Sunday, September 14 16:09 • Permanent Link

Western Alliance Bancorporation (NYSE: WAL) has announced a $300 million share repurchase program, with no expiration date, reflecting the company's confidence in its strong business momentum and fortified capital position. The program aims to mitigate share price volatility and enhance total shareholder returns.

The shares may be repurchased through open market or private transactions, block trades, and pursuant to any trading plan adopted in accordance with rule 10b5-1 of the Securities and Exchange Commission. The company has the discretion to determine the timing, price, and actual number of shares repurchased under the program, considering factors such as general market conditions, stock price, regulatory requirements, corporate liquidity requirements, and priorities.

This announcement comes on the heels of the company's robust capital generation and its ability to achieve previously stated balance sheet growth objectives. Kenneth A. Vecchione, President and CEO, expressed confidence in the company's ability to return excess capital to shareholders while pursuing its growth objectives. The market has reacted to these announcements by moving the company's shares -1.27% to a price of $88.49. For the full picture, make sure to review WESTERN ALLIANCE BANCORPORATION's 8-K report.

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