Business Context and Reporting Period
Western Alliance Bancorporation filed this Form 8-K on October 21, 2010, to report a regulatory development concerning its subsidiary, Torrey Pines Bank.
Key Financial Metrics
This filing does not provide specific financial data such as revenue, profit, cash flow, margins, debt, or liquidity metrics.
Material Changes
The primary event reported is the termination of a Consent Order issued by the Federal Deposit Insurance Corporation (FDIC). The order, originally dated November 16, 2009, was terminated effective October 20, 2010. The order pertained to alleged violations of law within Torrey Pines Bank's credit card division, which has since been discontinued.
Guidance, Outlook, and Risks
The filing contains no forward-looking guidance, management commentary on future performance, or discussion of new risks. The termination of the Consent Order resolves a specific regulatory contingency related to the discontinued credit card division.
Key Facts for Investor Verification
- The FDIC Consent Order regarding Torrey Pines Bank was terminated on October 20, 2010.
- The order related to the bank's now-discontinued credit card division.
- No financial performance data is included in this specific report.