---
schema_version: "secwatch.filing_event.v1"
accession: "0001171843-24-002083"
form_type: "8-K"
ticker: "WABC"
cik: "0000311094"
company_name: "WESTAMERICA BANCORPORATION"
filed_at: "2024-04-18T23:59:59+00:00"
generated_at: "2026-06-03T19:45:47.598575+00:00"
event_type: "earnings"
sentiment: "negative"
materiality_score: 0.6
calibrated_materiality_score: 0.6
confidence: "high"
source: SEC EDGAR
---

# Westamerica Bancorp Q1 2024 net income $36.4M, EPS $1.37, down from Q4

## Summary
- Net income $36.4M, diluted EPS $1.37; sequential decline from Q4 2023 net income $39.5M ($1.48 EPS).
- Net interest income (FTE) $66.1M vs $69.7M in Q4; annualized yield on earning assets 4.50% vs 4.52%.
- Noninterest income $10.1M, down $0.9M QoQ due to lower debit card fees ($524K) and merchant processing ($356K).
- Noninterest expenses $26.1M vs $25.5M; salaries up $430K on seasonal payroll taxes and merit increases.
- Funding cost rose to 0.20% from 0.11%; 47% of deposits are non-interest bearing checking accounts.

## SEC filing metadata
- accession: 0001171843-24-002083
- form_type: 8-K
- ticker: WABC
- cik: 0000311094
- company_name: WESTAMERICA BANCORPORATION
- filed_at: 2024-04-18T23:59:59+00:00
- event_type: earnings
- sentiment: negative
- materiality_score: 0.6
- calibrated_materiality_score: 0.6
- confidence: high
- sec_items: 2.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/311094/000117184324002083/0001171843-24-002083-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/311094/000117184324002083/f8k_041824.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001171843-24-002083
- JSON: https://secwatch.observer/filing/0001171843-24-002083.json
- Plain text: https://secwatch.observer/filing/0001171843-24-002083.txt

## Key facts
- Earnings Releases
  WESTAMERICA BANCORPORATION reported first quarter 2024 results: net income $36.4 million, EPS $1.37.
  - Period: first quarter 2024
  - Net income: $36.4 million
  - EPS: $1.37
  - Result: reported results
  source text: Westamerica Bancorporation Reports First Quarter 2024 Financial Results SAN RAFAEL, Calif., April 18, 2024 (GLOBE NEWSWIRE) -- Westamerica Bancorporation (Nasdaq: WABC), parent company of Westamerica Bank, generated net income for the first quarter 2024 of $36.4 million and diluted earnings per common share ("EPS") of $1.37.
  evidence_url: https://www.sec.gov/Archives/edgar/data/311094/000117184324002083/0001171843-24-002083-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.