Question and Answer Session
Operator
We will now begin the question and answers session. And our first question is from Casey Haire of Jefferies
Casey Haire, Jefferies
Hi good morning guys. I want to dig a little bit on the NIM outlook. Can you give some color as to what your your new money loan yield is on production?
Dale Gibbons, Chief Financial Officer, Western Alliance Bancorporation
Yeah, it climbed during the quarter. Fourth quarter over third and we averaged at 41.
Casey Haire, Jefferies
Sorry 4.41?
Dale Gibbons, Chief Financial Officer, Western Alliance Bancorporation
4.81, 4.81%.
Casey Haire, Jefferies
Okay got you. And in terms of the loan growth guide of a $1 billion…
Dale Gibbons, Chief Financial Officer, Western Alliance Bancorporation
Casey, that number would not include fees or anything like that. That’s just the weighted mean of the loans originated during 4Q.
Casey Haire, Jefferies
Okay understood. Thanks for that. And then, on the loan growth, loan and deposit growth outlook. Obviously it is, it is competitive out there. But a $1 billion, are you guys just being a little conservative? Because that is a pretty nice pull back from the $1.6 billion production that we just saw in 2014.
Robert Sarver, Chairman and CEO, Western Alliance Bancorporation
Well, I hope we can do better, but those are pretty good numbers.
Casey Haire, Jefferies
Okay. And then just lastly, M&A prospects on the year, how, you guys have been pretty optimistic recently about your chances of landing a deal. How is that shaping up as we look into 2015 and what size targets are you guys looking at?
Robert Sarver, Chairman and CEO, Western Alliance Bancorporation
We do not want to really get into many specifics, but we do have a lot of opportunities we’re working on. And, we’re pretty confident we’re going to make a good deal this year. But beyond that I’m not going to give any specifics.
Casey Haire, Jefferies
Okay thank you.
Operator
Our next question will come from Brad Milsaps of Sandler O’Neill
Brad Milsaps, Sandler O’Neill
Hey god morning guys. Robert, I appreciate all the guidance on loan growth. Just curious, I think last quarter you hired 9 new lenders in the third quarter. Curious how many hired in the fourth in maybe by geography and, and what types of parts of your business they concentrate on?
Robert Sarver, Chairman and CEO, Western Alliance Bancorporation
Yeah, we, I think we hired about 11 during the quarter. We hired some folks in the Bay Area. We are going to be opening up a — we just came to terms on a some space in downtown San Francisco for a good, well-located office. We just open up a large regional office in Chandler, Arizona, which is probably the most healthy growing city in Arizona, and we hired some folks there. And we also hired a few people in the Los Angeles market and also in Phoenix.
Brad Milsaps, Sandler O’Neill
That’s great. And then, any additional color, any change on the economy in Nevada, or is it still sort of status-quo there?
Robert Sarver, Chairman and CEO, Western Alliance Bancorporation
Well it’s getting better in that, I mean that is, we are hopeful we have some opportunity this year. Because our loan totals in Nevada have been shrinking for the last 6 years and including last year. But business is looking a little better there. I just looked at some recent economic data, unemployment rate dropped again and actually had some of the highest priced housing value increases in the Western US, in the South West, I’ll say. And we are seeing more momentum there, so we are thinking that maybe this year turns the corner in terms of loan growth and we actually start growing our local loans in Nevada. And Reno’s got a little excitement going on there too, so that could have a meaningful addition for us.
Brad Milsaps, Sandler O’Neill
Great thank you very much.
