Western Alliance Bancorp hasn’t found any more irregularities in its loan portfolio and doesn’t expect more surprises tied to the collapse of First Brands Group and a potential fraud at a commercial real estate investment firm.
The Phoenix-based bank went through its $2 billion note finance portfolio and reverified titles and liens for all notes greater than $10 million, Chief Executive Officer Kenneth Vecchione told analysts on an earnings callBloomberg Terminal Wednesday. It didn’t find anything amiss, and is now digging into smaller notes, he said.