Westamerica Bancorp. (WABC) Tops Q1 EPS by 14c
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Westamerica Bancorporation Reports First Quarter 2023 Financial Results
April 20, 2023 10:43 AM EDTSAN RAFAEL, Calif., April 20, 2023 (GLOBE NEWSWIRE) -- Westamerica Bancorporation (Nasdaq: WABC), parent company of Westamerica Bank, generated net income for the first quarter 2023 of $40.5 million and diluted earnings per common share ("EPS") of $1.51. First quarter 2023 results include a provision for credit losses reversal of $1.6 million, which increased EPS $0.04. These results compare to net income for fourth quarter 2022 of $39.3 million and EPS of $1.46.
"Westamericas first quarter 2023 results benefited from the Companys valuable low-cost deposit base; the cost of funding our loan and bond portfolios was 0.03 percent in the first quarter 2023, unchanged from the... More
