News/Press Room

5 Year Anniversary

Feb. 5, 2008

Alliance Bank of Arizona marks its five-year anniversary this week as the fastest-growing bank out of more than 100 banks chartered in the United States in 2003 and has also grown to now rank in the Top 15 largest banks in Arizona by asset size.

Alliance Bank continued its pattern of successful growth ending 2007 with total assets of $823 million, deposits of $613 million and loans outstanding of $584 million. Compared to year-end 2006, Alliance Bank grew assets in 2007 by $180 million, loans increased $77 million and deposits grew $60 million as of 12/31/07.

Alliance Bank President and CEO Jim Lundy attributes the bank's exceptional growth to a highly talented and experienced group of bankers and the loyal following they have developed over many years working among Arizona's business owners and professionals.

"To achieve over $800 million in assets in only five years is a remarkable feat and certainly one of the great achievements by any local bank in the history of our state," said Lundy. "Our customers have made this great Arizona banking success story possible by their loyalty and by referring so many friends and business associates to Alliance Bank. We also have an exceptional team of bankers who have worked diligently to help our customers achieve their financial goals."

In February 2003, Alliance Bank opened its first office in Phoenix with only $28 million in assets. The following month, the bank opened its first Tucson office. Today, Alliance Bank has 11 statewide offices in Metro Phoenix (6), Tucson (3), and one each in Flagstaff and Sedona. The bank also has 143 employees.

Alliance Bank is a "super community" commercial bank with local decision-making, focused on Arizona's business, professional and real estate development community, along with individuals seeking personalized banking service. For more information, visit the Alliance Bank of Arizona web site at alliancebankofarizona.com.

Alliance Bank of Arizona is a subsidiary of Western Alliance Bancorporation, which began public trading on the New York Stock Exchange (NYSE) on June 30, 2005 under the symbol "WAL." Western Alliance ranks as one of the most rapidly growing bank holding companies in the United States, with assets of $5 billion and offices in Las Vegas, Reno, San Diego, Oakland, Metro Phoenix, Tucson, Sedona and Flagstaff.

Back to News/Press Room »