Westamerica Q4 net income $31.7M ($1.19 EPS), down from Q3's $35.1M

WESTAMERICA BANCORPORATION

2024-FY EPS reported $5.20

Net interest income (FTE) $59.2M vs $62.5M in Q3; yield on earning assets fell to 4.25% from 4.45%.
Noninterest income $10.6M (Q3: $11.9M, which included $1.6M one-time gains).
Nonperforming assets stable at $0.7M; allowance for credit losses $14.8M; no provision.
Operating expenses well controlled at 37% of total revenues; Q4 dividend $0.44 per share.
Cost of funding loan and bond portfolios annualized at 0.24% (Q3: 0.37%).

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