Western Alliance Bancorporation (NYSE:WAL) reported its Q1 earnings results yesterday, with EPS of $2.30 coming in better than the Street estimate of $1.97. Revenue was $551.9 million, compared to the Street estimate of $675.91 million.

Between March 31 and April 14, there has been an additional $2.0 billion increase in deposits. It is worth noting that the total insured deposits represent 73% of the overall deposits, which is significantly higher than what is typically observed among the top 50 banks in the United States.

As a result, shares jumped more than 15% pre-market today.