earnings
confidence high
sentiment positive
materiality 0.75
Westamerica posts record Q2 net income of $40.2M; EPS $1.51, ROE 18.4%
WESTAMERICA BANCORPORATION
2023-Q2 EPS reported
$3.02
- Net income $40.2M ($1.51 diluted EPS); highest Q2 net income in company history.
- Net interest income (FTE) $70.3M (+1% QoQ); earning asset yield 4.38% vs 4.21% Q1.
- Funding cost 0.04% annualized; no Federal Reserve or correspondent bank borrowings.
- Nonperforming assets $853K; noninterest expense $25.8M, down from $26.2M Q1.
- Quarterly dividend $0.42/share; annualized ROE 18.4%.