WAL — what changed in the latest 10-Q
A section-by-section comparison of WAL's newest periodic SEC filing (10-K/10-Q) against the prior same-form filing: paragraphs added and removed per section, with verbatim excerpts. Purely a deterministic text diff — no similarity scores, no directional read, not investment advice.
Comparing 10-Q · 2026-07-31 vs the prior 10-Q · 2026-05-11
| Section | Outcome | Added | Removed | Minor | Unchanged |
|---|---|---|---|---|---|
| MD&A | Text added/removed | +44 | −37 | ~65 | 62 |
| Market risk (Item 3) | Text added/removed | 0 | 0 | ~5 | 8 |
| Controls & procedures | Text added/removed | 0 | 0 | ~1 | 1 |
| Legal proceedings | Text added/removed | 0 | 0 | ~2 | 1 |
| Other information | Text added/removed | 0 | 0 | ~1 | 0 |
Counts are paragraphs; added/removed means text added or removed vs the prior filing — no direction or judgement implied.
Not shown (absent or not faithfully extractable): Risk factors
Representative excerpts
Up to 5 excerpts of about 300 characters per section, quoted verbatim from the two SEC filings.
MD&A
Text added vs the prior filing · source: 10-Q · 2026-07-31
During the second quarter of 2026, the Company initiated a deposit optimization strategy designed to improve profitability by reducing higher-cost deposit balances. These efforts lowered period-end deposits relative to the prior quarter, including the reduction of more than $1 billion of higher-cost…
The Company's loan portfolio includes significant credit exposure to the CRE market, with CRE related loans comprising approximately 26% and 27% of total loans at June 30, 2026 and December 31, 2025, respectively. Approximately 13% and 14% of CRE loans, excluding construction and land loans, were ow…
In August 2025, the Bank initiated a lawsuit in Los Angeles Superior Court against Cantor Group V, LLC and certain individual guarantors in connection with the Bank's note finance revolving credit facility to Cantor Group V, LLC, alleging fraud by the borrower for failing to provide collateral loans…
In May 2026, the Bank and its collateral agent filed an amended complaint in New York Supreme Court against Jefferies Financial Group, Leucadia Asset Management LLC, and affiliates (collectively, the "Defendants") alleging breach of contract, fraud, negligence, promissory estoppel, and unjust enrich…
(1) See Non-GAAP Financial Measures section beginning on page 65.
Text removed vs the prior filing · source: 10-Q · 2026-05-11
available for repayment of such loans, and any adverse economic or other events impacting the collateral, borrower or guarantors with respect to such loans.
The Company's loan portfolio includes significant credit exposure to the CRE market, with CRE related loans comprising approximately 27% of total loans at March 31, 2026 and December 31, 2025. Approximately 14% of CRE loans, excluding construction and land loans, were owner occupied, and less than 4…
In August 2025, the Bank initiated a lawsuit in Los Angeles Superior Court against Cantor Group V, LLC and certain individual guarantors in connection with the Bank's note finance revolving credit facility to Cantor Group V, LLC, alleging fraud by the borrower for failing to provide collateral loans…
In March 2026, the Bank and its collateral agent filed a complaint in New York Supreme Court against Jefferies Financial Group, Leucadia Asset Management LLC, and affiliates (collectively, the "Defendants") alleging breach of contract and fraudulent inducement in connection with a trade finance loan…
Net income available to common stockholders / as adjusted (1)178.9
How to read Risk Factors (Item 1A) in a 10-Q
A 10-Q risk-factor section usually takes one of three forms; this page classifies it as one of:
- Pointer — the filer states there have been no material changes and points back to the annual 10-K risk factors; there is no own risk text to compare this quarter.
- Partial update — the filer carves out specific updated risks ("except as set forth below"); the excerpts show exactly what is new this quarter.
- Restated in full — the quarter carries the complete risk-factor text. When the prior quarter was only a pointer there is no prior full text to diff against, so the page flags the section as restated instead.
This describes the filing structure only — it is never a judgement on whether risk went up or down.
Source: text-level diff of the two SEC EDGAR filings · deterministic (no AI-generated content) · for reference only · not investment advice