Index rebalancing sees Western Alliance Bancorporation moved to larger-bank index from previous position on KBW Nasdaq Regional Banking Index
Western Alliance Bancorporation (NYSE: WAL) has been added to the KBW Nasdaq Bank Index (Index Ticker: BKX, ETF Ticker: KBWB), as announced by Keefe, Bruyette & Woods, Inc. (KBW).
Per KBW, the change is part of index rebalancing for the third quarter of 2022 and will be effective prior to the opening of business on Monday, September 19, 2022.
According to Nasdaq’s website, “The KBW Bank Index is designed to track the performance of the leading banks and thrifts that are publicly traded in the U.S. The Index includes 24 banking stocks representing the large U.S. national money centers, regional banks and thrift institutions.”
Previously, Western Alliance Bancorporation was part of the KBW Nasdaq Regional Banking Index.
“We are pleased to be included among our large-bank peers on the KBW Nasdaq Bank Index from our previous position on the KBW Nasdaq Regional Banking Index,” said Kenneth Vecchione, president and chief executive officer, Western Alliance Bancorporation. “This is the latest data point recognizing Western Alliance’s continued industry-leading performance and powerful growth trajectory as we move toward our goal of becoming one of the nation’s leading commercial banks.”
Western Alliance Bancorporation is one of the largest banking companies in the country with a market capitalization of $7.6 billion at quarter-end 2Q 2022.
About Western Alliance Bancorporation
With more than $66 billion in assets, Western Alliance Bancorporation (NYSE: WAL) is one of the country’s top-performing banking companies. Through its primary subsidiary, Western Alliance Bank, Member FDIC, business clients benefit from a full spectrum of tailored banking solutions. Major accolades include #2 best-performing of the 50 largest public U.S. banks in the S&P Global Market Intelligence listing for 2021, and #1 Best Emerging Regional Bank for 2022 by Bank Director. Serving clients across the country, Western Alliance Bank operates individual, full-service banking and financial brands with offices in key markets nationwide. For more information, visit Western Alliance Bancorporation.
Cautionary Note Regarding Forward-Looking Statements
This release contains forward-looking statements that relate to expectations, beliefs, future plans and strategies, anticipated events or trends and similar expressions concerning matters that are not historical facts. Examples of forward-looking statements include, among others, statements we make regarding our expectations with regard to our business, future economic performance, growth and success, and the quotations from Kenneth Vecchione. The forward-looking statements contained herein reflect our current views about future events and are subject to risks, uncertainties, assumptions and changes in circumstances that may cause our actual results to differ significantly from historical results and those expressed in any forward-looking statement. Some factors that could cause actual results to differ materially from historical or expected results include, among others: the risk factors discussed in the Company’s Annual Report on Form 10-K for the year ended December 31, 2021 and the Company's subsequent Quarterly Reports on Form 10-Q, each as filed with the Securities and Exchange Commission; the potential adverse effects of unusual and infrequently occurring events such as the COVID-19 pandemic and any governmental or societal responses thereto; changes in general economic conditions, either nationally or locally in the areas in which we conduct or will conduct our business; the execution of our business plan; and other factors affecting the financial services industry generally or the banking industry in particular. Any forward-looking statement made by us in this press release is based only on information currently available to us and speaks only as of the date on which it is made. We do not intend and disclaim any duty or obligation to update or revise any industry information or forward-looking statements, whether written or oral, that may be made from time to time, set forth in this press release to reflect new information, future events or otherwise.