Western Alliance Bancorporation's 900% EPS Surprise (WAL)

Western Alliance Bancorporation WAL today reported an EPS of $0.040 versus an estimate of $0.004, which translates to a 900% surprise. Robert Sarver, Chairman and Chief Executive Officer of Western Alliance Bancorporation said “I'm pleased with our strong start in 2011 with an increase in our top line performance, driven by loan and deposit growth and an expanding margin, and our bottom line performance through increased efficiency and improved asset quality". “For the first time in three years, each of our operating units was profitable. We continue to make important strides on multiple fronts simultaneously as we achieve total loan growth while reducing higher risk construction and land exposure, and growing our deposits while reducing our funding costs. These successes demonstrate our continued progress toward achieving our full operating potential.”