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 (WABC) is a California-based community bank specializing in commercial banking and trust services for regional businesses. This page provides investors and stakeholders with direct access to the company's official news, financial updates, and market developments.
Discover timely announcements including earnings reports, regulatory filings, and strategic initiatives. Our curated collection ensures you stay informed about WABC's operational milestones, leadership updates, and service expansions across Northern and Central California communities.
Key updates cover net interest income trends, deposit base management, and trust service innovations. Bookmark this page for consolidated access to press releases and financial disclosures from this established regional banking institution.
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.
Westamerica Bancorporation (NASDAQ: WABC) declared a quarterly cash dividend of $0.42 per share on common stock, payable on August 19, 2022, to shareholders recorded by August 8, 2022. Additionally, the Board approved a share repurchase plan for up to 1,750,000 shares, representing 6.5% of outstanding stock as of June 30, 2022. The company's net income for Q2 2022 was $25.3 million, with diluted earnings per share of $0.94, reflecting financial strength and a conservative risk profile.
Westamerica Bancorporation (WABC) reported a net income of $25.3 million in Q2 2022, translating to a diluted EPS of $0.94. This reflects an increase from $22.6 million and $0.84 in Q1 2022. The bank benefitted from its variable-rate bonds and maintained a solid credit quality with nonperforming loans at $861 thousand. The annualized return on average common equity was 12.9%. Shareholders received a dividend of $0.42 per share. Net interest income increased to $48.0 million, while noninterest expenses decreased to $24.6 million.
Westamerica Bancorporation (NASDAQ: WABC) has declared a quarterly cash dividend of $0.42 per share, payable on May 20, 2022, to shareholders of record as of May 9, 2022. The decision highlights the company's reliable earnings and financial strength. For Q1 2022, Westamerica reported a net income of $22.6 million, equating to $0.84 diluted earnings per share. This reflects the company’s conservative risk profile and commitment to returning value to shareholders.
Westamerica Bancorporation (WABC) reported a net income of $22.6 million and diluted earnings per share (EPS) of $0.84 for Q1 2022, showing growth from $21.7 million and $0.81 EPS in Q4 2021.
The bank's return on average common equity was 11.8%, supported by well-managed operating expenses at 55% of revenue. Nonperforming loans were low at $915 thousand.
WABC increased noninterest income to $11.6 million, while noninterest expenses rose to $24.9 million due to seasonal factors.
Westamerica Bancorporation (NASDAQ: WABC) has declared a quarterly cash dividend of $0.42 per share for shareholders of record as of February 7, 2022, payable on February 18, 2022. The company's net income for Q4 2021 was reported at $21.7 million, translating to $0.81 diluted earnings per share. Chairman David Payne noted the dividend reflects Westamerica’s reliable earnings, financial strength, and conservative risk profile.
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