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 (WABC) reported a strong net income of $40.5 million for Q1 2023, translating to a diluted EPS of $1.51. This performance marked an increase from $39.3 million in Q4 2022, where EPS was $1.46. The results were positively impacted by a $1.6 million reversal in provision for credit losses, enhancing EPS by $0.04.
The company maintained a low-cost funding model, with a funding cost of just 0.03% and 47% of deposits being non-interest bearing. Furthermore, net interest income for Q1 was $69.6 million, slightly up from $69.2 million in the previous quarter.
WABC also reported a 19.1% annualized return on average common equity, while noninterest expenses rose to $26.2 million.
Westamerica Bancorporation (NASDAQ: WABC) announced a quarterly cash dividend of $0.42 per share, payable on February 17, 2023, to shareholders of record as of February 6, 2023. The company reported $39.3 million in net income for Q4 2022, equating to $1.46 diluted earnings per share. Chairman David Payne highlighted the dividend as a recognition of the company's reliable earnings, financial strength, and conservative risk profile.
Westamerica Bancorporation (Nasdaq: WABC) reported a fourth quarter 2022 net income of $39.3 million and diluted earnings per share (EPS) of $1.46, up from $34.8 million and $1.29 in the third quarter. Key performance metrics included a return on average common equity of 18.6%, with net interest income rising to $69.2 million from $60.8 million. The cost of funding remained low at 0.03%, benefiting from a strong deposit base of 47% non-interest bearing deposits. Noninterest income decreased to $10.5 million from $11.8 million. A dividend of $0.42 was declared for shareholders.
Westamerica Bancorporation (NASDAQ: WABC) declared a $0.42 quarterly cash dividend per share, payable on November 18, 2022, to shareholders of record by November 7, 2022. This decision reflects the company's financial strength and stable earnings, as highlighted by a reported $34.8 million net income for the three months ending September 30, 2022, translating to $1.29 per diluted share. Chairman David Payne emphasized the bank's conservative risk profile amidst a solid earnings stream.
Westamerica Bancorporation (Nasdaq: WABC) reported a net income of $34.8 million for Q3 2022, translating to diluted earnings per share (EPS) of $1.29, a 37% increase from Q2 2022's net income of $25.3 million and EPS of $0.94. The results were bolstered by variable-rate bonds and a robust deposit base. The non-interest cost of funding remained low at 0.03%. The bank generated $60.8 million in net interest income on a fully-taxable equivalent basis, with a loan and bond yield of 3.47%. A $0.42 dividend was declared for shareholders during the quarter.
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