earnings
confidence high
sentiment neutral
materiality 0.65
Westamerica Q2 EPS $1.33, net income $35.5M; funding cost rises to 0.35%
WESTAMERICA BANCORPORATION
2024-Q2 EPS reported
$2.69
- Net income $35.5M vs $36.4M in Q1; diluted EPS $1.33 vs $1.37.
- Net interest income (FTE) $64.1M, down from $66.1M in Q1.
- Funding cost annualized 0.35% (Q1: 0.20%); loan yield unchanged at 4.50%.
- No provision for credit losses; net loan recoveries $73K; NPLs $1.6M.
- Dividend of $0.44 per share paid in Q2; efficiency ratio 35%.