Westamerica Bancorporation - WABC STOCK NEWS

Westamerica Bancorporation (WABC) reported Q1 2025 net income of $31.0 million with diluted earnings per share (EPS) of $1.16, compared to Q4 2024's $31.7 million and $1.19 EPS. The quarter included a $550,000 reversal of provision for credit losses.

Key financial metrics include:

• Net interest income (FTE): $56.4 million, down from $59.2 million in Q4 2024
• Noninterest income: $10.3 million vs $10.6 million in Q4 2024
• Operating expenses: 38% of total revenues
• Return on average common equity: 11.9% annualized
• Quarterly dividend: $0.44 per share

The bank maintained strong deposit metrics with 46% non-interest bearing checking accounts and a low 0.24% annualized cost of funding. Credit quality remained stable with nonperforming assets of $277,000 as of March 31, 2025.

Westamerica Bancorporation (NASDAQ: WABC) has announced a significant stock repurchase plan approved by its Board of Directors. The plan authorizes the repurchase of up to 2,000,000 shares of the company's common stock, representing approximately 7.5% of outstanding shares as of December 31, 2024.

The repurchase program will be executed through open market or privately negotiated transactions and will remain active until March 31, 2026. According to CEO David Payne, this initiative reflects Westamerica's strong financial position, conservative risk approach, and consistent earnings performance.

The company operates banking and trust offices throughout Northern and Central California through its subsidiary, Westamerica Bank.

Westamerica Bancorporation (NASDAQ: WABC) has declared a quarterly cash dividend of $0.44 per share on common stock, payable on February 14, 2025, to shareholders of record as of February 3, 2025. The announcement follows the company's recent quarterly performance report, which showed net income of $31.7 million for Q4 2024, translating to $1.19 diluted earnings per share.

CEO David Payne emphasized that this dividend reflects the company's reliable earnings, financial strength, and conservative risk profile. Westamerica operates banking and trust offices throughout Northern and Central California through its subsidiary, Westamerica Bank.

Westamerica Bancorporation (WABC) reported Q4 2024 net income of $31.7 million with diluted EPS of $1.19, compared to Q3 2024 net income of $35.1 million and EPS of $1.31. The Q4 results include a tax provision adjustment reducing EPS by $0.01.

Key highlights include a low-cost deposit base with 47% in non-interest bearing checking accounts, and an annualized funding cost of 0.24%. Net interest income (FTE) was $59.2 million, down from $62.5 million in Q3. The loan and bond portfolio yield decreased to 4.25% from 4.45% in Q3.

Noninterest income totaled $10.6 million, while noninterest expenses were $25.9 million. The company maintained stable nonperforming assets at $0.7 million with an allowance for credit losses of $14.8 million. WABC achieved a 12.1% annualized return on equity and paid a $0.44 per share dividend.

Westamerica Bancorporation (NASDAQ: WABC) has declared a quarterly cash dividend of $0.44 per share, payable on November 15, 2024, to shareholders of record as of November 4, 2024. The company reported net income of $35.1 million ($1.31 diluted earnings per share) for Q3 2024. CEO David Payne highlighted the company's reliable earnings, financial strength, and conservative risk profile. Westamerica operates banking and trust offices throughout Northern and Central California through its subsidiary, Westamerica Bank.

Westamerica Bancorporation (Nasdaq: WABC) reported its third quarter 2024 financial results. The company generated net income of $35.1 million and diluted earnings per share (EPS) of $1.31, including $0.04 EPS from gains on life insurance and asset sales. This compares to Q2 2024 net income of $35.5 million and EPS of $1.33.

Key highlights:

• 48% of deposits were non-interest bearing checking accounts
• Annualized cost of funding loan and bond portfolios was 0.37%
• Operating expenses were 35% of total revenues
• No provision for credit losses
• Nonperforming assets remained stable at $0.9 million
• Allowance for credit losses was $15.3 million
• Annualized return on average common equity was 13.7%
• $0.44 per share dividend paid

Net interest income (FTE) was $62.5 million, down from $64.1 million in Q2. The annualized yield on loans, bonds, and cash was 4.45%, compared to 4.50% in Q2. Noninterest income increased to $11.9 million from $10.5 million in Q2.

Westamerica Bancorporation (NASDAQ: WABC) has declared a quarterly cash dividend of $0.44 per share on common stock. The dividend will be payable on August 16, 2024, to shareholders of record as of August 5, 2024. CEO David Payne highlighted the company's reliable earnings, financial strength, and conservative risk profile. In its recent financial report, Westamerica announced net income of $35.5 million for Q2 2024, translating to $1.33 diluted earnings per share. Westamerica Bank, the company's subsidiary, operates banking and trust offices throughout Northern and Central California.

Westamerica Bancorporation (Nasdaq: WABC) reported second quarter 2024 financial results, with net income of $35.5 million and diluted EPS of $1.33. This compares to Q1 2024 net income of $36.4 million and EPS of $1.37. Key highlights include:

- Annualized cost of funding interest-earning assets: 0.35%
- No provision for credit losses due to net loan recoveries
- Efficiency ratio: 35%
- Annualized return on average common equity: 14.4%
- Quarterly dividend: $0.44 per share
- Net interest income (FTE): $64.1 million, down from $66.1 million in Q1
- Noninterest income: $10.5 million, up from $10.1 million in Q1
- Noninterest expenses: $26.1 million, unchanged from Q1

Westamerica Bancorporation (WABC) declares a quarterly cash dividend of $0.44 per share on common stock outstanding. The dividend is payable on May 17, 2024. Chairman, President, and CEO David Payne emphasizes the company's reliable earnings stream and financial strength. Westamerica reported $36.4 million in net income for the three months ended March 31, 2024, with $1.37 diluted earnings per common share.