Western Alliance in Arizona Files to Raise $100 Million

Community banking

Meridian Bancorp Could Raise Up to $364 Million in Stock Sale

Meridian Bancorp (EBSB), the newly formed bank holding company for East Boston Savings Bank, could raise at least $233 million and as much as $364 million in its upcoming public offering.

By Evan Nemeroff

May 20
Community banking

Banc of California Looks to Raise $100 Million

Banc of California (BANC) in Irvine is looking to raise $100 million by selling common stock and tangible equity units.

By Evan Nemeroff

May 14

Western Alliance (WAL) in Phoenix is looking to raise $100 million.

The $9.7 billion-asset company said in a regulatory filing Wednesday that it could sell the stock from time to time through Credit Suisse Securities.

Western Alliance said it could use proceeds for a range of purposes, including capital injections into its bank.

The company has nine branches in the southwest United States. It operates Alliance Bank of Arizona, Bank of Nevada, First Independent Bank, Torrey Pines Bank and Western Alliance Equipment Finance.

Kristin Broughton

twitter

MORE FROM AMERICAN BANKER

Treasury Department

Bessent to be Treasury nominee, Trump taps Turner for HUD

Hedge fund manager Scott Bessent had been the betting favorite to take the reins at Treasury. Scott Turner, a former congressman and NFL player, will lead the housing agency.

By Kyle Campbell

November 22
Artificial intelligence

Fed's Bowman: Regulators 'must have an openness' to AI

While the risks, benefits and magnitude of artificial intelligence's impact on financial services remain unclear, agencies should keep an open mind toward the technology and avoid reflexive risk aversion in bank supervision, Federal Reserve Gov. Michelle Bowman said.

By John Heltman

November 22
Succession planning

First Foundation's new CEO has history of priming banks to sell

The Dallas bank's new CEO, Thomas Shafer, served in top roles at a number of banks that were subsequently acquired before he stepped away from the industry in 2022.

By Catherine Leffert

November 22
Federal Reserve

Fed: Elevated asset valuations could threaten financial stability

In its latest financial stability report, the Federal Reserve warned high equity valuations and low levels of liquidity could leave the financial system vulnerable to shocks.

By Kyle Campbell

November 22
SBA

A small-dollar business lending scheme finds a niche at Huntington

The Columbus, Ohio-based regional launched Lift Local Business in October 2020 with a $25 million ceiling. Four years and $133 million later, the program is still going strong.

By John Reosti

November 22
Payments

JPMorgan Chase, Mastercard sell crypto-style B2B payment tech

The bank and payment company are using the technology that underpins digital assets to improve interoperability for international transactions, a major point of friction in trade finance.

By John Adams

November 22