PHOENIX (AP) _ Western Alliance Bancorp (WAL) on Thursday reported fourth-quarter net income of $128.1 million.

The bank, based in Phoenix, said it had earnings of $1.25 per share.

The results surpassed Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was for earnings of $1.20 per share.

The bank holding company posted revenue of $331.4 million in the period. Its revenue net of interest expense was $288 million, also surpassing Street forecasts. Four analysts surveyed by Zacks expected $284.4 million.

For the year, the company reported profit of $499.2 million, or $4.84 per share. Revenue was reported as $1.11 billion.

Western Alliance shares have risen 1% since the beginning of the year. In the final minutes of trading on Thursday, shares hit $57.67, a climb of 30% in the last 12 months.

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

Automated Insights, source Associated Press News