Phoenix-based Western Alliance Bank ranked among best in US
Jan 15, 2018, 11:15 AM
PHOENIX — One of the best banks in the country can be found right here in Arizona.
That’s right: The Phoenix-based Western Alliance Bancorp ranked second in the nation on Forbes’ list of “Best Banks in America.”
According to Forbes, Western Alliance scored so high on its list because of its individual scores “for its return on average assets and net charge-offs as a percent of average loans.”
“With a focus on Arizona, Nevada and California, the bank was hammered by the collapse of the subprime mortgage market. The stock bottomed at $3 a share in 2009 but has rebounded to top $58,” the publication said.
This marked the third consecutive year that the bank ranked on Forbes’ top 10 list: It ranked at No. 10 exactly in 2016, before jumping to fourth in 2017 and second in 2018.
In a statement to the Phoenix Business Journal, Western Alliance chairman and CEO Robert Sarver said the bank’s “customer-focused approach continues to contribute to strong performance.”
“Western Alliance’s depth of leadership, combined with clients’ access to decision-makers, plus our energy and drive, work together to propel our organization forward. We are pleased to again be recognized as a top bank by Forbes,” Sarver said.
Western Alliance operates the Alliance Bank of Arizona, Bank of Nevada and First Independent Bank, Torrey Pines Bank and Bridge Bank.
The only bank that Western Alliance did not beat out was the Arkansas-based Home BancShares.
