Western Alliance Bancorporation reported its first-quarter financial results after the bell Thursday. Here's a look at the details. 

The Details: Western Alliance reported quarterly earnings of $1.60 per share, missing the consensus estimate of $1.66 by 3.61% and representing a 30.43% decrease from the same period last year.

The company reported quarterly sales of $728.8 million which beat the analyst consensus estimate of $697.04 million by 4.56% and represents a 32.05% increase over sales of $551.9 million year-over-year.

Western Alliance delivered a return on tangible common equity of 14.5% and tangible book value per share climbed 13.8% year-over-year to $47.30 with a CET 1 ratio of 11%.

“Western Alliance delivered strong first quarter results with continued robust business and deposit momentum that allowed us to largely complete our balance sheet repositioning efforts, while maintaining stable asset quality,” said Kenneth A. Vecchione, CEO of Western Alliance.

“Quarterly deposit growth of $6.9 billion enhanced our liquidity profile, drove the loan-to-deposit ratio down to 81.5%, and allowed us to repay $1.0 billion of borrowings,” Vecchione added.

Western Alliance will host a conference call Friday at 12 p.m. ET to discuss the results.

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WAL Price Action: According to Benzinga Pro, Western Alliance shares are down 3.66% after-hours at $53.70 at the time of publication Thursday.