secwatch.observer — SEC 8-K summary
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Issuer:     WESTAMERICA BANCORPORATION (WABC)
CIK:        0000311094
Form:       8-K
Filed at:   2024-01-18T23:59:59+00:00
Accession:  0001171843-24-000294
Event type: earnings
Sentiment:  neutral
Materiality: 0.55
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Westamerica Q4 net income $39.5M ($1.48 EPS), down from Q3; low-cost deposits support margins
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- Net income $39.5M, diluted EPS $1.48 vs Q3 net income $41.6M, EPS $1.56; includes $0.02 tax-adjustment hit.
- Net interest income (FTE) $69.7M, down from $72.1M in Q3; yield on earning assets 4.52%, cost of funds 0.11%.
- Non-interest income $11.0M (Q3: $11.3M); non-interest expenses $25.5M (Q3: $25.7M); expenses well controlled.
- Annualized return on average common equity 16.7%; quarterly dividend $0.44 per share paid in Q4.
- 48% of deposits are non-interest bearing; no brokered deposits or Fed borrowings during quarter.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/311094/000117184324000294/0001171843-24-000294-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/311094/000117184324000294/f8k_011824.htm
  HTML page:      https://secwatch.observer/filing/0001171843-24-000294

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