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 reports news on its role as the parent company of Westamerica Bank, which operates commercial banking and trust offices throughout Northern and Central California. Recurring updates cover quarterly financial results, deposit funding costs, loan and bond portfolio performance, credit-loss provisions, nonperforming assets and operating expense trends.
Company announcements also address common-stock dividends, share repurchase authorizations and board governance matters. Westamerica’s news frequently links capital returns and operating results to its banking model, including a low-cost deposit base and credit-quality disclosures.
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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