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Dec 31, 2021
Westamerica Q4 2021 Earnings Report
Westamerica generated positive net income and EPS, demonstrating well-managed operating expenses and solid credit quality.
Key Takeaways
Westamerica Bancorporation reported a net income of $21.7 million and diluted EPS of $0.81 for Q4 2021. The company's operating expenses were well-managed, with checking and savings deposits representing a significant portion of the deposit base. Credit quality remained solid with low nonperforming loans.
Net income for Q4 2021 was $21.7 million, with an EPS of $0.81.
Net interest income on a fully-taxable equivalent (FTE) basis was $43.1 million.
Noninterest income totaled $10.8 million, while noninterest expense was $23.9 million.
Nonperforming loans were $1.0 million at the end of the quarter.
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.
- 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.
- 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
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.
- certain credit, interest rate, operational, liquidity and market risks associated with the Company's business and operations.
- 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.