News/Press Room

Alliance Bank hits $1 Billion in total assets

August 24, 2009

PHOENIX – Alliance Bank of Arizona (ABA) announced this week that the six and a half year old bank has reached $1 billion in total assets.

“Reaching the $1 billion milestone in total assets, driven by our exceptionally strong deposit growth, continues to illustrate the value of having a strong capital position and being a relationship-based bank that has been consistently willing to lend in our communities,” said Jim Lundy, ABA’s President & CEO.

“We are very fortunate to have a dedicated team of veteran local bankers who take pride in maintaining close relationships with our customers and a local Board of Directors who are actively engaged as Arizona business and community leaders,” Lundy continued.

During the first half of 2009, Alliance Bank grew total loans to $688 million, up $10 million from December 31, 2008 and total deposits to $804 million, up $124 million in the first six months since year end 2008.

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, focused on Arizona’s business and professional community, along with high net worth individuals seeking ‘high tech – high touch’ banking services. Alliance Bank has offices statewide including Phoenix, Scottsdale, Mesa, Tucson, Flagstaff and Sedona.

Alliance Bank’s mission is to be Arizona’s best business bank and to provide consistent relationship banking that our customers can count on in every economic cycle. Alliance Bank’s growth underscores the broad based acceptance of the business model executed by proven, market-tested banking professionals. 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, westernalliancebancorp.com, one of the largest regional bank holding companies in the country with more than $5.5 billion in assets. In May 2009, Western Alliance Bancorporation announced the closing of a $190 million capital raise, and between June 2008 and June 2009 WAL raised $410 million in capital. In the first six months of 2009 Western Alliance had deposit growth of $740 million. WAL also celebrated its fourth anniversary this past June since going public on 6/30/05. Robert Sarver is chairman and Chief Executive Officer of WAL.

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