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Jun 30, 2024
Westamerica Q2 2024 Earnings Report
Westamerica's financial performance remained strong, marked by efficient operations and a solid return on equity.
Key Takeaways
Westamerica Bancorporation reported a net income of $35.5 million and EPS of $1.33 for Q2 2024. The company's low-cost operating principles and no provision for credit losses contributed to the results. The annualized return on average common equity was 14.4 percent.
Net income for the second quarter of 2024 was $35.5 million, with diluted EPS at $1.33.
The company's low-cost operating principles and efficient spending contributed to the results.
No provision for credit losses was recognized due to net loan recoveries.
Annualized return on average common equity for the second quarter was 14.4 percent.
Revenue by Segment
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
- Company plans or objectives of its management for future operations
- Forecasts of its revenues
- Forecasts of earnings
- Descriptions of products or services
- Other measures of economic performance
Challenges Ahead
- Changes in business and economic conditions
- Competition
- Fiscal and monetary policies
- Disintermediation
- Cyber security risks
Historical Earnings Impact
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Avg. Return Before/After Earnings
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