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Jun 30, 2022
Westamerica Q2 2022 Earnings Report
Westamerica Bancorporation's net income and EPS increased in the second quarter of 2022.
Key Takeaways
Westamerica Bancorporation reported a net income of $25.3 million and EPS of $0.94 for Q2 2022. The results benefited from variable-rate bonds, cash, and loans, a valuable deposit base, and well-controlled operating expenses.
Net income for the second quarter 2022 was $25.3 million, compared to $22.6 million for the first quarter 2022.
EPS for the second quarter 2022 was $0.94, compared to $0.84 for the first quarter 2022.
Nonperforming loans totaled $861 thousand at June 30, 2022.
Annualized return on average common equity was 12.9% for the second quarter 2022.
Westamerica
Westamerica
Forward Guidance
This press release contains forward-looking statements about the Company, including descriptions of plans or objectives of its management for future operations, products or services, and forecasts of its revenues, earnings or other measures of economic performance.
Positive Outlook
- Forward-looking statements can be identified by the fact that they do not relate strictly to historical or current facts.
- They often include the words “believe,” “expect,” “anticipate,” “intend,” “plan,” “estimate,” or words of similar meaning, or future or conditional verbs such as “will,” “would,” “should,” “could,” or “may.”
- Forward-looking statements speak only as of the date they are made.
- This press release may contain forward-looking statements about the Company.
- The Company does not undertake to update forward-looking statements to reflect circumstances or events that occur after the date forward looking statements are made.
Challenges Ahead
- Forward-looking statements, by their nature, are subject to risks and uncertainties.
- A number of factors — many of which are beyond the Company’s control — could cause actual conditions, events or results to differ significantly from those described in the forward-looking statements.
- The Company’s most recent reports filed with the Securities and Exchange Commission describe some of these factors, including certain credit, interest rate, operational, liquidity and market risks associated with the Company’s business and operations.
- Other factors described in these reports include changes in business and economic conditions, competition, fiscal and monetary policies, disintermediation, cyber security risks, legislation including the Dodd-Frank Wall Street Reform and Consumer Protection Act of 2011, the Sarbanes-Oxley Act of 2002 and the Gramm-Leach-Bliley Act of 1999, and mergers and acquisitions.
- Forward-looking statements speak only as of the date they are made.