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Sep 30, 2023
Westamerica Q3 2023 Earnings Report
Generated the highest third quarter results in Company history.
Key Takeaways
Westamerica Bancorporation reported net income of $41.6 million and EPS of $1.56 for Q3 2023. Results benefited from a low-cost deposit base and well-controlled operating expenses. The company's customer deposits and shareholders’ equity fully funded interest earning assets.
Net income for the third quarter 2023 was $41.6 million, with EPS at $1.56.
Third quarter results included a life insurance gain which increased EPS $0.01.
The annualized cost of funding loan and bond portfolios was 0.07 percent.
Nonperforming assets remained stable at $1.2 million as of September 30, 2023.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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