secwatch.observer — SEC 8-K summary
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Issuer:     WESTAMERICA BANCORPORATION (WABC)
CIK:        0000311094
Form:       8-K
Filed at:   2024-10-17T23:59:59+00:00
Accession:  0001171843-24-005682
Event type: earnings
Sentiment:  neutral
Materiality: 0.50
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Westamerica Q3 EPS $1.31, net income $35.1M; stable credit and low funding costs
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- Net income $35.1M, diluted EPS $1.31 (incl. $0.04 gains from life insurance/asset sales); Q2 net income $35.5M, EPS $1.33.
- Net interest income (FTE) $62.5M; yield on earning assets 4.45%, funding cost 0.37% annualized.
- No provision for credit losses; nonperforming assets stable at $0.9M; allowance for credit losses $15.3M.
- Noninterest income $11.9M (incl. $1.6M gains), noninterest expense $26.3M; efficiency ratio 35%.
- Annualized return on average common equity 13.7%; quarterly cash dividend $0.44 per share paid.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/311094/000117184324005682/0001171843-24-005682-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/311094/000117184324005682/f8k_101724.htm
  HTML page:      https://secwatch.observer/filing/0001171843-24-005682

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