PHOENIX (AP) _ Western Alliance Bancorp (WAL) on Thursday reported fourth-quarter profit of $246 million.

The bank, based in Phoenix, said it had earnings of $2.32 per share. Earnings, adjusted for non-recurring costs, were $2.34 per share.

The results beat Wall Street expectations. The average estimate of seven analysts surveyed by Zacks Investment Research was for earnings of $2.30 per share.

The bank holding company posted revenue of $593.7 million in the period. Its revenue net of interest expense was $561 million, which also beat Street forecasts. Five analysts surveyed by Zacks expected $553.8 million.

For the year, the company reported profit of $899.2 million, or $8.67 per share. Revenue was reported as $1.95 billion.

This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on WAL at https://www.zacks.com/ap/WAL

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