FORM 4 Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP OF SECURITIES Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934, Section 17(a) of the Public Utility Holding Company Act of 1935 or Section 30(h) of the Investment Company Act of 1940

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(Print or Type Responses)

1. Name and Address of Reporting Person * NAGY M NAFEES   2. Issuer Name and Ticker or Trading Symbol WESTERN ALLIANCE BANCORPORATION [WAL] 5. Relationship of Reporting Person(s) to Issuer (Check all applicable) __X__ Director _____ 10% Owner _____ Officer (give title below) _____ Other (specify below) (Last) (First) (Middle) C/O WESTERN ALLIANCE BANCORPORATION, 1 E. WASHINGTON ST., SUITE 1400 3. Date of Earliest Transaction (Month/Day/Year) 12/30/2010 (Street) PHOENIX, AZ 85004 4. If Amendment, Date Original Filed(Month/Day/Year) 6. Individual or Joint/Group Filing(Check Applicable Line) _X_ Form filed by One Reporting Person ___ Form filed by More than One Reporting Person (City) (State) (Zip) Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned

1.Title of Security (Instr. 3) 2. Transaction Date (Month/Day/Year) 2A. Deemed Execution Date, if any (Month/Day/Year) 3. Transaction Code (Instr. 8) 4. Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5) 5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4) 6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4) 7. Nature of Indirect Beneficial Ownership (Instr. 4) Code V Amount (A) or (D) Price Common Stock 12/30/2010   J(1)   41,066 D (1) 443,850 I By Sajan Alliance, LLC Common Stock 12/30/2010   J(1)   20,533 A (1) 20,533 I By 2009 Grantor Retained Annuity Trust #1 Common Stock 12/30/2010   J(1)   20,533 A (1) 20,533 I By 2009 Grantor Retained Annuity Trust #2 Common Stock 12/30/2010   J(1)   20,533 D (1) 0 I By 2009 Grantor Retained Annuity Trust #1 Common Stock 12/30/2010   J(1)   14,201 D (1) 6,332 I By 2009 Grantor Retained Annuity Trust #2 Common Stock 12/30/2010   J(1)   34,734 A (1) 34,734 I By spouse Common Stock 12/30/2010   J(1)   34,734 D (1) 0 I By spouse

Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
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Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned
(e.g., puts, calls, warrants, options, convertible securities)

1. Title of Derivative Security (Instr. 3)

2. Conversion or Exercise Price of Derivative Security

3. Transaction Date (Month/Day/Year)

3A. Deemed Execution Date, if any (Month/Day/Year)

4. Transaction Code (Instr. 8)

5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4, and 5)

6. Date Exercisable and Expiration Date (Month/Day/Year)

7. Title and Amount of Underlying Securities (Instr. 3 and 4)

8. Price of Derivative Security (Instr. 5)

9. Number of Derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)

10. Ownership Form of Derivative Security: Direct (D) or Indirect (I) (Instr. 4)

11. Nature of Indirect Beneficial Ownership (Instr. 4)

Code

V

(A)

(D)

Date Exercisable

Expiration Date

Title

Amount or Number of Shares

Reporting Owners

Reporting Owner Name / Address	Relationships
	Director	10% Owner	Officer	Other
NAGY M NAFEES C/O WESTERN ALLIANCE BANCORPORATION 1 E. WASHINGTON ST., SUITE 1400 PHOENIX, AZ 85004	X

Signatures

/s/ Dale Gibbons (Attorney in Fact)		01/04/2011
**Signature of Reporting Person		Date

Explanation of Responses:

*	If the form is filed by more than one reporting person, see Instruction 4(b)(v).
**	Intentional misstatements or omissions of facts constitute Federal Criminal Violations. See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
(1)	On December 30, 2010, Sajan Alliance, LLC ("Sajan Alliance") (whose shareholdings the reporting person may be deemed to beneficially own as a result of his spouse's role as manager and trustee of the trusts which are members thereof) distributed 20,533 shares to the Nagy 2009 Grantor Retained Annuity Trust #1 ("GRAT 1") and 20,533 shares to the Nagy 2009 Grantor Retained Annuity Trust #2 ("GRAT 2"). The reporting person's spouse is the trustee and income beneficiary of each of GRAT 1 and GRAT 2. On December 30, 2010, GRAT 1 transferred 20,533 shares to the reporting person's spouse, who then transferred the shares to various trusts over which the reporting person has no beneficial ownership. On December 30, 2010, GRAT 2 transferred 14,201 shares to the reporting person's spouse, who then gifted the shares to various trusts over which the reporting person has no beneficial ownership.

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