Western Alliance Bancorporation announced unaudited consolidated earnings results for the fourth quarter and year ended December 31, 2013. For the quarter, the company's net interest income was $89.98 million compared with $77.5 million a year ago. Income from continuing operations, before income tax expense was $34.4 million compared with $41.4 million a year ago. Income from continuing operations was $32.1 million or $0.37 per diluted share compared with $33.9 million or $0.39 per diluted share a year ago. Net income available to common stockholders was $30.99 million or $0.36 per diluted share compared with $31.8 million or $0.37 per diluted share a year ago. Return on average assets was 1.37% compared with 1.68% a year ago. Return on tangible common equity was 18.11% compared with 21.70% a year ago. Net operating revenue was $95.2 million for the quarter, an increase of 15.3% compared to $82.5 million for the fourth quarter 2012.

For the year, the company's net interest income was $332.9 million compared with $290.3 million a year ago. Income from continuing operations, before income tax expense was $140.6 million compared with $99.3 million a year ago. Income from continuing operations was $115.4 million or $1.32 per diluted share compared with $75.3 million or $0.86 per diluted share a year ago. Net income available to common stockholders was $113.1 million or $1.31 per diluted share compared with $69.0 million or $0.83 per diluted share a year ago. As on December 31, 2013, the company's book value per common share was $8.19 and tangible book value per share, net of tax was $7.89. Return on average assets was 1.35% compared with 1.01% a year ago. Return on tangible common equity was 16.67% compared with 12.37% a year ago.

Net loan charge-offs (annualized) to average loans outstanding of 0.13%, compared to net loan recoveries to average loans of 0.10% in the third quarter 2013 and net loan charge-offs to average loans of 0.99% in the fourth quarter 2012.

For the year 2014, the company expects tax rate of 25%.