Westamerica Bancorp Q1 2023 net income $40.5M, EPS $1.51, up from Q4

WESTAMERICA BANCORPORATION

2023-Q1 EPS reported $1.51

Net income $40.5M, diluted EPS $1.51 vs Q4 2022 $39.3M and $1.46.
Provision for credit losses reversal of $1.6M (increased EPS $0.04) from $2.2M commercial loan recovery.
Net interest income (FTE) $69.6M, up from $69.2M; funding cost unchanged at 0.03%.
Nonperforming assets $785K at March 31, 2023; annualized ROE 19.1%.
Quarterly dividend $0.42 per common share paid in Q1 2023.

item 2.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 1.0

WESTAMERICA BANCORPORATION reported first quarter 2023 results: net income $40.5 million, EPS $1.51.

Period: first quarter 2023
Net income: $40.5 million
EPS: $1.51
Result: reported results

Exact text from the filing

Westamerica Bancorporation (Nasdaq: WABC), parent company of Westamerica Bank, generated net income for the first quarter 2023 of $40.5 million and diluted earnings per common share ("EPS") of $1.51.

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Source: SEC EDGAR

accession 0001171843-23-002426

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