Revenue during the quarter grew 18.71 percent to $185.60 million from $156.34 million in the previous year period. Net interest income for the quarter rose 23.06 percent over the prior year period to $179.31 million. Non-interest income for the quarter fell 19.71 percent over the last year period to $10.54 million.

Western Alliance Bancorporation has made provision of $4.25 million for loan losses during the quarter, up 70 percent from $2.50 million in the same period last year.

Net interest margin improved 5 basis points to 4.63 percent in the quarter from 4.58 percent in the last year period. Efficiency ratio for the quarter improved to 44.40 percent from 45.58 percent in the previous year period. A decline in efficiency ratio indicates a rise in profitability.

"Western Alliance is off to a strong start to the year with $73.4 million in net income and $0.70 EPS in Q1 2017," commented Robert Sarver, Chairman and Chief Executive Officer of Western Alliance Bancorporation. "We are particularly pleased with our loan growth of $454 million to $13.66 billion, up 3.4% over the prior quarter, and our very strong deposit growth of $806 million to $15.36 billion, up 5.5% over the prior quarter. Asset quality remains strong with a net charge-off rate of 0.04% and non-performing assets to total assets of 0.44%. Our return on average assets and tangible common equity1 rose for the quarter to 1.69% and 17.85%, among the highest in the industry. With the quarter’s increase in tangible book value per share to $15.861, Western Alliance continues to deliver to its shareholders superior income, asset, and capital growth and has set a firm foundation for a strong 2017."

Deposits stood at $15,356 million as on Mar. 31, 2017, up 17.39 percent compared with $13,081.70 million on Mar. 31, 2016.

Loans to deposits ratio was 88.97 percent for the quarter, up from 85.93 percent for the previous year quarter.

Noninterest-bearing deposit liabilities were $6,114.10 million or 39.82 percent of total deposits on Mar. 31, 2017, compared with $4,635.20 million or 35.43 percent of total deposits on Mar. 31, 2016.

Investments stood at $2,869.10 million as on Mar. 31, 2017, up 36.63 percent or $769.20 million from year-ago. Shareholders equity was at $1,969 million as on Mar. 31, 2017.

Return on average assets moved down 1 basis points to 1.69 percent in the quarter from 1.70 percent in the last year period.

Tier-1 leverage ratio stood at 10.20 percent for the quarter, up from 9.90 percent for the previous year quarter. Book value per share was $18.68 for the quarter, up 16.46 percent or $2.64 compared to $16.04 for the same period last year.