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Mar 31
Westamerica Q1 2025 Earnings Report
Westamerica Bancorporation reported solid Q1 2025 earnings with stable credit quality and controlled expenses.
Key Takeaways
Westamerica Bancorporation delivered a strong Q1 2025, with EPS of $1.16 and revenue slightly beating expectations. Net income remained robust at $31 million, supported by a low funding cost and efficient operations.
Net income reached $31,037,000 with a diluted EPS of $1.16.
Total revenue was $66,710,000, supported by strong net interest income.
Funding costs remained low at 0.24%, reflecting efficient deposit management.
Nonperforming assets remained minimal at $277,000, showing strong credit quality.
Westamerica
Westamerica
Westamerica Revenue by Segment
Westamerica Revenue by Geographic Location
Forward Guidance
No specific forward guidance provided, but liquidity, capital strength, and funding remain in focus.
Positive Outlook
- Strong liquidity with $727 million in cash
- 46% of deposits in non-interest bearing accounts
- Stable credit quality with low nonperforming loans
- Efficient cost control with expenses at 38% of revenue
- High capital ratios and no current borrowing from the Fed
Challenges Ahead
- Revenue and net income declined year-over-year
- Net interest margin compressed versus prior year
- Loan balances decreased by 7.5% YoY
- Deposit base contracted by 7.8% YoY
- Continued pressure on interest income from securities