Western Alliance Bancorp (WAL) Q1 2020 Earnings Call Transcript

Western Alliance Bancorp (WAL) Q1 2020 Earnings Call Transcript

Welcome to the Earnings Call for Western Alliance Bancorporation for the First Quarter of 2020.. Our speakers today are Ken Vecchione, President and Chief Executive Officer; and Dale Gibbons, Chief Financial Officer.. And joining me on the call today are Dale Gibbons, our -- and our Chief Credit Officer, Tim Bruckner.. Our overall risk management approach is focused on establishing individual borrower level strategies in which we are proactively engaging in customer conversations to evaluate and agree upon financial plans focused on liquidity management to conserve resources in anticipation of an elongated economic downturn.. As part of our broader risk management strategy, we have prioritized implementing the PPP program as the most expedient method to quickly get incremental liquidity to our clients.. We believe that the newly initiated mainstream lending program when implemented provides incremental liquidity for our large clients as well as PPP participants.. Despite a uniquely challenging operating and rate environment, I am proud to report that in the first quarter, Western Alliance generated $163.4 million of operating pre-provision net revenue, up 10% year-over-year and 3% quarter-to-quarter.. We continued with the adoption of CECL accounting changes this quarter, which resulted in a provision for credit losses of $51.2