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Mar 31, 2023
Westamerica Q1 2023 Earnings Report
Westamerica Bancorporation's financial performance in Q1 2023 resulted in net income of $40.5 million and EPS of $1.51.
Key Takeaways
Westamerica Bancorporation reported a net income of $40.5 million and EPS of $1.51 for Q1 2023. The company benefited from a low-cost deposit base and higher yields on variable-rate assets. Credit quality remained stable.
Net income for Q1 2023 was $40.5 million, with an EPS of $1.51.
A provision for credit losses reversal of $1.6 million increased EPS by $0.04.
Net interest income on a fully-taxable equivalent (FTE) basis was $69.6 million.
Noninterest income totaled $10.5 million, unchanged from the previous quarter.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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