Western Alliance Expands in California, Targeting Middle-Market Growth

Western Alliance, based in Arizona, is intensifying its focus on middle-market companies, particularly in California, reports Banking Dive. Under Julian Parra, the bank's national head of commercial and industrial banking, it has added teams specializing in aerospace and defense, and food and agriculture, building on its existing entertainment and gaming sectors.

Parra noted that the Southwest region has significant opportunities, allowing the bank to deepen client relationships and expand nationally. The $80 billion-asset bank faced challenges during the turmoil last year, with significant deposit withdrawals following the failures of other regional lenders. However, it has since demonstrated deposit growth, with totals reaching $66.2 billion by June 30, up 30% from the previous year.

In California, Western Alliance competes with both local banks and larger national names, but Parra believes the bank's balance of strength and nimbleness allows it to effectively serve middle-market companies, which often get overlooked by larger institutions. The bank focuses on firms generating between $20 million and $250 million in revenue, offering traditional cash management and specialized financial products.

Since Parra's arrival, Western Alliance has hired 12 new bankers in California, primarily in its targeted sectors, with plans for continued expansion based on client and talent alignment with its strategic goals. He sees ample growth opportunities in the bank's existing markets.