Welcome to our dedicated page for Westamerica Bancorporation news (Ticker: WABC), a resource for investors and traders seeking the latest updates and insights on Westamerica Bancorporation stock.
Westamerica Bancorporation (NASDAQ: WABC) is a San Rafael, California-based bank holding company for Westamerica Bank, which operates commercial banking and trust offices throughout Northern and Central California. This news page aggregates WABC-related announcements and disclosures so readers can review how the company communicates its financial performance, capital actions and governance events.
Company press releases frequently cover quarterly and annual financial results, including net income, diluted earnings per common share, net interest income on a fully taxable equivalent basis, noninterest income and noninterest expense. Management commentary often highlights metrics such as net interest margin, efficiency ratio, return on assets, return on common equity, nonperforming assets and the allowance for credit losses on loans.
Westamerica’s news flow also includes dividend declarations and stock repurchase plan authorizations approved by the Board of Directors. These releases describe the per-share dividend amount, record and payment dates, and the size and timing of share repurchase plans relative to common shares outstanding. Updates on share repurchases executed under these plans may appear in subsequent earnings announcements.
In addition, the company issues news about certain corporate governance developments, such as the retirement of a member of the Board of Directors, and files related current reports on Form 8-K. For investors tracking WABC, following these updates provides insight into Westamerica Bancorporation’s earnings trends, capital management decisions, risk profile and board-level changes over time.
Readers who monitor this page can review historical and recent WABC news in one place, using the sequence of press releases and related SEC-referenced documents to understand how the company’s commercial banking operations and financial position evolve within its Northern and Central California footprint.
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
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