Western Alliance Bancorp's update likely to fall short with investors, analyst says

Western Alliance Bancorp stock falls in premarket after latest update from the regional bank lacks details on its deposit balance.

Western Alliance Bancorp stock fell 5% in premarket trade Wednesday after the regional bank failed to provide a figure for its deposit balance as of March 31 in its latest financial update.

Jefferies analyst Casey Haire said Wednesday the fresh numbers from Western Alliance Bancorp WAL are likely to frustrate investors despite some positive comments by the bank. On the plus side, Western Alliance Bancorp said its shares of insured deposits climbed to 68% as of March 31 from 55% at the start of the quarter.Chief Executive Kenneth A. Vecchione said the bank managed to “weather the liquidity tightness that enveloped the industry over the past month.”

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