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PHOENIX - Western Alliance Bancorporation (NYSE:WAL), a $9.23 billion market cap regional bank, announced Thursday that Vishal Idnani will succeed Dale Gibbons as Chief Financial Officer, effective January 2, 2026.
Idnani, currently a Managing Director in the Financial Institutions Group at J.P. Morgan, brings two decades of experience advising over 50 regional banks, including Western Alliance. He will report to President and CEO Ken Vecchione and be based in Phoenix.
Gibbons, who has served as CFO since 2003, will transition to a newly created role as Vice Chairman and Chief Banking Officer, Deposit Initiatives and Innovation. In this position, he will focus on the company’s organic deposit-generating business lines, including Business Escrow Services, Western Alliance Trust Company, and Digital Assets.
"I have known and worked with Vishal since my return to the bank in 2017, and he has been one of my most reliable and trusted outside advisors," Vecchione said in a statement.
During Gibbons’ tenure as CFO, Western Alliance achieved tangible book value per share growth that the company reports was more than 7.5 times greater than peer banks since the end of 2014. The bank maintains strong profitability with a P/E ratio of 11.52 and revenue growth of 11.37% over the last twelve months. According to InvestingPro analysis, the stock appears slightly undervalued based on its Fair Value metrics. Gibbons has received recognition as "#1 Best CFO" in Extel’s/Institutional Investor’s All-America Executive Team Midcap Banks rankings multiple times.
Western Alliance Bancorporation, with more than $85 billion in assets, operates banking and financial brands across the United States.
The announcement was made in a company press release.
In other recent news, Western Alliance Bancorporation reported second-quarter earnings that surpassed analyst expectations. The bank posted earnings of $2.07 per share, exceeding the consensus estimate of $2.02. Net income for the quarter reached $237.8 million, marking a 22.8% increase from the same period last year. Revenue also saw a boost, totaling $845.9 million, which represents a 9.6% year-over-year increase. The bank experienced solid growth in both loans and deposits, with held-for-investment loans rising by $1.2 billion to $55.9 billion and total deposits increasing by $1.8 billion to $71.1 billion. Additionally, the net interest margin improved to 3.53% from the previous quarter’s 3.47%. Asset quality metrics remained stable, with nonperforming loans decreasing to 0.76% of total funded loans. Western Alliance also maintained strong capital levels, with a common equity tier 1 ratio of 11.2% and a tangible book value per share that increased 14.5% year-over-year.
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