Western Alliance Bancorporation (NYSE:WAL) today announced the launch of
a new division to serve the homeowners association market nationwide.
Alliance Association Financial Services, a division of its Torrey Pines
Bank affiliate, will serve homeowners associations with a full range of
deposit, treasury management, information and financing services.
The homeowners association market in the United States is estimated to
represent $41 billion in operating revenues and investment accounts of
more than $35 billion, according to Community Associations Institute, a
national trade association.
Craig Huntington will serve as the President of Alliance Association
Financial Services. Before joining Western Alliance, Mr. Huntington was
President of Community Association Banc. Previously, he was the
principal of Huntington Property Services for 20 years headquartered in
Los Angeles.
“I am delighted that Craig will be bringing
our advanced capabilities and brand of personal attention to this
significant market,” said Robert Sarver,
Chairman and CEO of Western Alliance. “With
our infrastructure and Craig’s depth of
expertise, we are in a unique position to deliver a superior offer to
homeowners associations in our markets as well as capture new
opportunities nationwide.”
Craig Huntington said, “I am very excited to
join the Western Alliance organization. Given the increased attention of
homeowners associations to their banking needs, the strength of Western
Alliance coupled with our focus on personal attention and technical
support gives the HOA market an unmatched banking solution.”
The new division also offers clients the added safety of the “one
stop” WALTree deposit program which provides
up to five times a single bank’s FDIC
insurance for checking accounts, money market accounts and certificates
of deposit using the parent company’s five
separately chartered affiliate banks.
About Western Alliance Bancorporation
Western Alliance Bancorporation is the parent company of Bank of Nevada,
First Independent Bank of Nevada, Alliance Bank of Arizona, Torrey Pines
Bank, Alta Alliance Bank, Miller/Russell & Associates, Shine Investment
Advisory Services, Premier Trust, and PartnersFirst. These dynamic
organizations provide a broad array of banking, leasing, trust,
investment, and mortgage services to clients in Nevada, Arizona and
California, investment services in Colorado, and bank card services
nationwide. Staffed with experienced financial professionals, these
organizations deliver a broader product array and larger credit capacity
than community banks, yet are empowered to be more responsive to
customers' needs than larger institutions. Additional investor
information can be accessed on the Investor Relations page of the
company's website, westernalliancebancorp.com.
Western Alliance Bancorporation
Robert Sarver, 602-952-5400
Dale
Gibbons, 702-248-4200
