Every material Form 8-K Westamerica Bank filed with the SEC in 2024, read and summarized by AI: what happened, the key figures, whether it reads positive or negative for shareholders, and how big a deal it is (impact 1-5). Newest first; each brief links to its own page and to the filing on SEC.gov.
Westamerica Bancorporation reported third quarter 2024 net income of $35.1 million, or $1.31 diluted earnings per share, down from $41.6 million and $1.56 a year earlier and slightly below the second quarter's $35.5 million and $1.33. Net interest income on a fully taxable equivalent basis fell 13.4% year over year to $62.5 million, and the filing shows the cost of funding rose. Shareholders received a $0.44 per share dividend, unchanged from a year earlier.
Net income of $35.1 million and diluted EPS of $1.31, versus $41.6 million and $1.56 in third quarter 2023
Net interest income (FTE) of $62.5 million, down 13.4% from $72.1 million a year earlier
Gains from life insurance and sales of other assets added $0.04 to EPS; no provision for credit losses was recognized
Dividend of $0.44 per common share paid in the third quarter 2024, unchanged from third quarter 2023
Westamerica Bancorporation reported second quarter 2024 net income of $35.5 million, or $1.33 per diluted share, down from $40.2 million and $1.51 per share in the second quarter of 2023. Results also declined from the first quarter of 2024, when net income was $36.4 million and EPS was $1.37. The company recorded no provision for credit losses and raised its quarterly dividend to $0.44 per share from $0.42 a year earlier.
Net income of $35.5 million versus $40.2 million in Q2 2023, a decline of 11.9%
Diluted EPS of $1.33 versus $1.51 a year earlier and $1.37 in Q1 2024
Net interest income (FTE) of $64.1 million, down 8.8% from $70.3 million in Q2 2023
Dividend of $0.44 per share, up from $0.42 in Q2 2023; annualized return on average common equity of 14.4% versus 18.4%
Westamerica Bancorporation appointed Anela Jonas as Chief Financial Officer effective June 27, 2024, replacing the prior arrangement in which John "Robert" Thorson served in that role. Ms. Jonas has worked in the company's Finance and Administration Division for thirteen years, including as Controller, and the filing states that Mr. Thorson keeps his title of Treasurer and Treasury Division Manager.
Anela Jonas appointed Chief Financial Officer effective June 27, 2024
Jonas is a California licensed certified public accountant (inactive) with thirteen years in the Finance and Administration Division, including as Controller
John "Robert" Thorson retains his responsibilities as Treasurer and Treasury Division Manager, having previously served as CFO from 2005 through 2019 and from March 2023 through June 2024
Westamerica Bancorporation reported first quarter 2024 net income of $36.4 million, or $1.37 per diluted share, down from $40.5 million and $1.51 per share in the first quarter of 2023, and from $39.5 million and $1.48 in the fourth quarter of 2023. Total revenue on a fully taxable equivalent basis fell 4.9% year over year to $76.2 million, as net interest income declined and total deposits fell 11.3%. The results were furnished in an 8-K with the press release attached as Exhibit 99.1.
Net income of $36.4 million, down 10.0% from $40.5 million in Q1 2023 and from $39.5 million in Q4 2023.
Diluted EPS of $1.37, versus $1.51 in Q1 2023 and $1.48 in Q4 2023.
Net interest and fee income (FTE) of $66.1 million, down 5.0% from $69.6 million a year earlier; cost of funds rose to 0.20% from 0.03%.
Return on average common equity was 15.2%, versus 19.1% in Q1 2023; the company paid a $0.44 per share dividend in Q1 2024.
Briefs are written by AI from the filing text and can contain mistakes — open the filing before acting on anything. Impact (1-5) and tone are the AI's reading of the filing for shareholders, not a price forecast. Not investment advice.
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