Western Alliance deposits stabilise and shares rise after hours

The lender said total deposits fell 11.3% to US$47.6bil (RM211bil) in the first quarter from the previous three months, but deposits steadied late in the quarter, growing US$2bil (RM8.9bil) from March 31 to April 14. — Reuters

NEW YORK: Western Alliance Bancorp posted stronger-than-expected earnings and says its deposits have stabilised after the March banking crisis, news that boosted its shares and those of other US regional banks in after-hours trading.

The lender said total deposits fell 11.3% to US$47.6bil (RM211bil) in the first quarter from the previous three months, but deposits steadied late in the quarter, growing US$2bil (RM8.9bil) from March 31 to April 14.