Westamerica Bancorp. (WABC) Tops Q2 EPS by 12c

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Go back to Westamerica Bancorp. (WABC) Tops Q2 EPS by 12c

Westamerica Bancorporation Reports Second Quarter 2023 Financial Results

July 20, 2023 10:48 AM EDT

SAN RAFAEL, Calif., July 20, 2023 (GLOBE NEWSWIRE) -- Westamerica Bancorporation (Nasdaq: WABC), parent company of Westamerica Bank, generated net income for the second quarter 2023 of $40.2 million and diluted earnings per common share ("EPS") of $1.51, which represents the highest second quarter results in Company history. Second quarter 2023 results compare to net income for first quarter 2023 of $40.5 million and EPS of $1.51; the first quarter 2023 included a $1.6 million reversal of provision for credit losses, which increased EPS $0.04.

"Westamericas second quarter 2023 results benefited from the Companys valuable low-cost deposit base; the annualized cost of... More