Western Alliance CEO Says 'We Don't Have A Broken Company' As Bank Slows Growth And Cuts Deposit Outlook
Ken Vecchione said the market did not reward growth above peers, and the bank cut its 2026 deposit-growth outlook to $3.5 billion to $4 billion.
Western Alliance Chairman, President and CEO Ken Vecchione said on the bank's third-quarter earnings call that "We don't have a broken company here," and that management is reevaluating how to get its valuation higher. The bank also cut its 2026 deposit-growth outlook to a range of $3.5 billion to $4 billion, from $6 billion.
What Vecchione said about growth
An analyst from RBC Capital Markets asked whether the more moderate loan-growth approach was holding the businesses back. Vecchione answered
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Vecchione said the bank will give more specific guidance when it reports fourth-quarter results in January.
Sources
- Western Alliance Q3 earnings beat, helped by investment securities gain, lower deposit costs (WAL:NYSE) | Seeking Alpha — seekingalpha.com
- Document — sec.gov
- Western Alliance beats Q3 estimates on higher revenue — Yahoo Finance
- Western Alliance Bancorporation (WAL) Stock Forecasts — Yahoo Finance
- Western Alliance (WAL) Q3 Earnings and Revenues Beat Estimates — Yahoo Finance
