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Dec 31, 2022
Westamerica Q4 2022 Earnings Report
Westamerica Bancorporation's Q4 2022 financial results were reported, showing increased net income and EPS compared to the previous quarter.
Key Takeaways
Westamerica Bancorporation reported a net income of $39.3 million and EPS of $1.46 for Q4 2022. The company benefited from a low-cost deposit base and higher yields on variable-rate assets. Credit quality remained solid.
Net income for Q4 2022 was $39.3 million, with EPS at $1.46.
The cost of funding loan and bond portfolios remained at 0.03 percent.
Non-interest bearing deposits represented 47 percent of average deposits.
Nonperforming assets were $774 thousand at the end of the quarter.
Westamerica
Westamerica
Forward Guidance
This press release contains forward-looking statements that are subject to risks and uncertainties.
Positive Outlook
- Descriptions of plans or objectives of its management for future operations, products or services
- Forecasts of its revenues
- Forecasts of its earnings
- Forecasts of other measures of economic performance.
- Statements that do not relate strictly to historical or current facts
Challenges Ahead
- Statements using words such as 'believe,' 'expect,' 'anticipate,' 'intend,' 'plan,' 'estimate,' or similar meaning
- Statements using future or conditional verbs such as 'will,' 'would,' 'should,' 'could,' or 'may.'
- Risks and uncertainties described in the company's SEC filings.
- Changes in business and economic conditions.
- Competition, fiscal and monetary policies, disintermediation, cyber security risks, legislation