WABC
Westamerica Bancorporation49.25
-0.03-0.06%
Dec 16, 4:00:00 PM EST
Earnings Call Transcripts
This Quarter (Q4 '25)
No earnings call transcript available yet
Last Quarter (Q3 '25)
No earnings call transcript available
Key Stats
Market Cap
1.25BP/E (TTM)
10.73Basic EPS (TTM)
4.59Dividend Yield
0.04%Recent Filings
10-Q
Q3 FY2025 results
Westamerica Bancorporation posted net income of $28.3 million in Q3 FY2025 ended September 30, 2025, down from $35.1 million a year earlier, as net interest income fell 14% year-over-year to $53.6 million amid lower yields on securities and cash balances, though deposit costs ticked up just 0.07%. Diluted EPS dipped to $1.12 from $1.31, aligning with 25.3 million shares, while year-to-date net income reached $88.4 million versus $106.9 million last year, with a $550 thousand credit loss reversal boosting the nine-month figure. Noninterest income slipped 15% quarterly due to the prior year's one-time asset sale gain, but expenses eased 2% on controlled salaries. Cash swelled to $659 million, deposits held steady at $4.8 billion with no debt, and free cash flow—operating cash of $95 million minus $1.6 million capex—stood at $93.4 million year-to-date. Yet deposit outflows remain a persistent drag in this rate environment.
8-K
Quarterly dividend declared
Westamerica Bancorporation declared a quarterly cash dividend of $0.46 per share, payable November 14, 2025, to shareholders of record November 3, 2025. This payout underscores the bank's reliable earnings, financial strength, and conservative risk profile, following $28.3 million in net income for Q3 2025. Dividends reward steady performance. Forward-looking statements highlight risks like interest rates and economic shifts.
8-K
Q3 net income falls slightly
Westamerica Bancorporation reported Q3 2025 net income of $28.3 million, down from $29.1 million in Q2, with EPS steady at $1.12. Net interest income dipped to $53.8 million on a fully taxable equivalent basis, pressured by a yield on earning assets of 4.06% and rising funding costs to 0.26%, while noninterest expense climbed to $25.8 million from higher salaries and fees. No provision for credit losses was needed, nonperforming assets stayed low at $2.6 million, and the bank repurchased 488,000 shares while paying a $0.46 dividend. Capital ratios exceed regulatory guidelines.
8-K
Board member retires
Westamerica Bancorporation announced the retirement of board member E. Joseph Bowler, effective September 25, 2025, following his notification on August 11. Bowler, who retired as Senior Vice President and Treasurer in 2002, has served on the board since 2003, contributing to the Audit, Loan and Investment, and Nominating Committees, plus Westamerica Bank's board. No disagreements with company operations were reported. Smooth transition ahead.
10-Q
Q2 FY2025 results
Westamerica Bancorporation posted net income of $29.1 million in Q2 FY2025 ended June 30, 2025, down 18% y/y from $35.5 million, with diluted EPS slipping to $1.12 from $1.33 amid softer net interest income. Revenue from interest and fees fell 17% y/y to $57.5 million, driven by lower yields on debt securities (down 0.5% y/y) and a 9% drop in average loan balances to $762 million, while gross margin held steady at 3.85% (derived). Operating income dipped 19% y/y to $39.1 million, yet noninterest expenses eased 2% to $25.5 million on reduced salaries and partnership losses. Liquidity strengthened with $626 million in cash and $1.7 billion in unpledged securities, supporting $101 million in repurchase agreements; free cash flow stood at $64.9 million YTD. No M&A or regulatory hurdles emerged. Still, competitive pressures in California's banking scene could squeeze deposit margins further.
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