Westamerica Bancorp. (WABC) Tops Q3 EPS by 29c

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Go back to Westamerica Bancorp. (WABC) Tops Q3 EPS by 29c

Westamerica Bancorporation Reports Third Quarter 2022 Financial Results

October 20, 2022 11:00 AM EDT

SAN RAFAEL, Calif., Oct. 20, 2022 (GLOBE NEWSWIRE) -- Westamerica Bancorporation (Nasdaq: WABC), parent company of Westamerica Bank, generated net income for the third quarter 2022 of $34.8 million and diluted earnings per common share ("EPS") of $1.29, including a life insurance gain equivalent to EPS of $0.03. Third quarter 2022 net income was 37 percent higher than second quarter 2022 net income of $25.3 million and EPS of $0.94.

"Westamericas third quarter 2022 results benefited from the Companys variable-rate bonds, cash and loans, as well as our valuable deposit base. With 47 percent of average deposits represented by non-interest bearing checking... More