News/Press Room

Alliance Bank celebrates 6-year anniversary

Mar. 10, 2009

Alliance Bank of Arizona marked its six-year anniversary in the first quarter of 2009, and now ranks as the 11th largest bank in Arizona, approaching $900 million in assets. "From the outset (2003) Alliance Bank of Arizona has been true to its mission of quality service to the small and mid-size business and professional community," said Jim Lundy, Alliance Bank of Arizona President and CEO.

Within just six years, Alliance Bank continues to show its resiliency as one of the state’s strongest banks. Alliance Bank of Arizona now has 11 offices in Arizona and 151 employees. Lundy confirmed that “The real key to our success has been outstanding leadership from our board of directors and our ability to recruit and retain some of the most proven and 'cycle tested' bankers in Arizona.”

During 2008, Alliance Bank posted total loans of $678 million, up $93 million or 16%, from December 31, 2007, and total deposits of $680 million, up $67 million or 11%, since year-end 2007. In addition, Alliance Bank recently marked another milestone by exceeding 8,000 customer deposit accounts.

"Our 2008 results underscore our strong liquidity, sound capital base and prudent loan growth due to our outstanding team of very talented and experienced bankers," said Lundy. "Given the current market conditions, our relationship-driven banking model makes more sense than ever. During these challenging economic times, Alliance Bank of Arizona is well positioned to continue to gain market share and be opportunistic as customers seek out local bankers they know and trust."

Also in 2008, Alliance Bank of Arizona’s holding company – Western Alliance Bancorporation (WAL-NYSE) – received approval from the U.S. Treasury Department for $140 million of the company's preferred stock and warrants as part of the TARP Capital Purchase Program. Including two private placements of common stock, WAL raised a total of $220 million of capital during 2008, and now ranks as the 93rd largest publicly held banking company in the nation. With the new capital raised in 2008, WAL's capital ratios are expected to be among the highest in the industry. Alliance Bank is actively putting its share of the TARP money WAL received, to work on a daily basis.

Founded in 2003, Alliance Bank has quickly become one of the fastest-growing banks in the U.S. Alliance Bank is a "super community" commercial bank with local decision-making. For more information, visit the Alliance Bank of Arizona website at alliancebankofarizona.com.

Alliance Bank of Arizona is a subsidiary of Western Alliance Bancorporation, westernalliancebancorp.com, one of the largest regional bank holding companies in the country with more than $5 billion in assets.

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