On March 10, 2023, Business Insider reported after Silicone Valley Bank’s $1.8 billion loss, shares of Western Alliance have crashed. The Company issued financial updates, “showing growing deposits and strong liquidity in the form $2.5 billion in cash on its balance sheet, a fully collateralized credit facility of $13.1 billion, and uncommitted credit lines of $4.6 billion.”
On this news, Western Alliance’s price fell $13.02 per share, or 20.88%, to close at $49.34 per share on March 10, 2023. On March 13, 2023, Western Alliance’s shares fell 12.4% to $43.20 in pre-market trading.
