Western Alliance Bank will bring all six of its bank brands under one moniker by the end of the year, the bank announced Wednesday.
The $80-billion-asset, Phoenix, Arizona-based bank will rebrand Alliance Association Bank, Alliance Bank of Arizona, Bank of Nevada, Bridge Bank, First Independent Bank and Torrey Pines Bank as Western Alliance Bank.
Each of the brands operate under the same charter. Bringing each brand under the Western Alliance name is an important milestone toward brand unity, said CEO Ken Vecchione.
“By year-end, the markets we serve and the clients who are so important to us will know us as one strong bank, offering unmatched industry expertise and unparalleled, best-in-class service,” he said in a prepared statement.
In a separate emailed statement, Vecchione said the bank has its sights set on becoming the next leading $100-billion-plus asset commercial bank in the U.S.
“While many of our business lines are national leaders, the branding is inconsistent - this is due partially to different acquisitions or de novo banks we created,” he said. “By uniting our divisions under the Western Alliance brand, clients will enjoy seamless access to specialized services available through our national business lines, all under one streamlined brand, delivered by people they trust. Clients will continue to work with the bankers they know. Relationships will remain exactly as they are today.”
The bank’s corporate trust affiliate, Western Alliance Trust Company, and its mortgage subsidiary AmeriHome Mortgage, which is acquired in 2021, will keep their names as is.
Western Alliance fell victim to an October breach that exposed 22,000 customers’ data. The breach went undetected for more than three months, and the bank did not disclose the breach until March 14, more than a month after discovering it.
Western Alliance was among the most closely watched firms amid the spring 2023 banking crisis that led to several bank failures. The bank has since recovered, and in the first quarter “delivered solid … results led by continued loan and deposit growth following,” Vecchione said.
