STOCK TITAN
  1. Home
  2. News
  3. WABC
  4. Westamerica Bancorporation Reports Second Quarter 2025 Financial Results

Westamerica Bancorporation Reports Second Quarter 2025 Financial Results

Rhea-AI Impact
(Neutral)
Rhea-AI Sentiment
(Neutral)
Tags
earnings
Rhea-AI Summary

Westamerica Bancorporation (Nasdaq: WABC) reported Q2 2025 financial results with net income of $29.1 million and diluted EPS of $1.12, compared to Q1 2025's $31.0 million and $1.16 EPS. The bank maintained strong operational efficiency with a 39% efficiency ratio and generated an 11.2% return on equity.

Key financial metrics include net interest income (FTE) of $54.6 million, down from $56.4 million in Q1 2025, with an annualized yield of 4.07% on loans, bonds and cash. The bank's cost of funding remained low at 0.22%. The company maintained strong asset quality with nonperforming assets of $5.0 million and an allowance for credit losses of $13.8 million.

During Q2, Westamerica paid a $0.46 dividend per share and repurchased 773,000 common shares while maintaining capital ratios above regulatory guidelines.

Westamerica Bancorporation (Nasdaq: WABC) ha comunicato i risultati finanziari del secondo trimestre 2025 con un utile netto di 29,1 milioni di dollari e un utile diluito per azione (EPS) di 1,12 dollari, rispetto ai 31,0 milioni di dollari e all'EPS di 1,16 del primo trimestre 2025. La banca ha mantenuto un'elevata efficienza operativa con un rapporto di efficienza del 39% e ha generato un rendimento sul capitale proprio dell'11,2%.

I principali indicatori finanziari includono un reddito netto da interessi (FTE) di 54,6 milioni di dollari, in calo rispetto ai 56,4 milioni del primo trimestre 2025, con un rendimento annualizzato del 4,07% su prestiti, obbligazioni e liquidità. Il costo del finanziamento della banca è rimasto basso, allo 0,22%. L'azienda ha mantenuto un'elevata qualità degli attivi con attività non performanti pari a 5,0 milioni di dollari e un accantonamento per perdite su crediti di 13,8 milioni di dollari.

Nel secondo trimestre, Westamerica ha distribuito un dividendo di 0,46 dollari per azione e ha riacquistato 773.000 azioni ordinarie, mantenendo al contempo i coefficienti patrimoniali al di sopra delle normative vigenti.

Westamerica Bancorporation (Nasdaq: WABC) informó los resultados financieros del segundo trimestre de 2025 con un ingreso neto de 29,1 millones de dólares y ganancias diluidas por acción (EPS) de 1,12 dólares, en comparación con los 31,0 millones y un EPS de 1,16 del primer trimestre de 2025. El banco mantuvo una fuerte eficiencia operativa con una relación de eficiencia del 39% y generó un retorno sobre el capital del 11,2%.

Los principales indicadores financieros incluyen un ingreso neto por intereses (FTE) de 54,6 millones de dólares, inferior a los 56,4 millones del primer trimestre de 2025, con un rendimiento anualizado del 4,07% sobre préstamos, bonos y efectivo. El costo de financiamiento del banco se mantuvo bajo en 0,22%. La compañía mantuvo una sólida calidad de activos con activos no productivos por 5,0 millones de dólares y una provisión para pérdidas crediticias de 13,8 millones de dólares.

Durante el segundo trimestre, Westamerica pagó un dividendo de 0,46 dólares por acción y recompró 773,000 acciones comunes, manteniendo al mismo tiempo ratios de capital por encima de las directrices regulatorias.

Westamerica Bancorporation (나스닥: WABC)는 2025년 2분기 재무 실적을 발표하며 순이익 2,910만 달러와 희석 주당순이익(EPS) 1.12달러를 기록했으며, 이는 2025년 1분기의 3,100만 달러와 EPS 1.16달러에 비해 다소 감소한 수치입니다. 은행은 39%의 효율성 비율로 강력한 운영 효율성을 유지했으며, 자기자본이익률 11.2%를 달성했습니다.

주요 재무 지표로는 1분기 5,640만 달러에서 감소한 순이자수익(FTE) 5,460만 달러가 있으며, 대출, 채권 및 현금에 대한 연환산 수익률은 4.07%입니다. 은행의 자금 조달 비용은 0.22%로 낮게 유지되었습니다. 회사는 5백만 달러의 부실 자산과 1,380만 달러의 대손충당금을 통해 우수한 자산 건전성을 유지했습니다.

2분기 동안 Westamerica는 주당 0.46달러의 배당금을 지급하고 77만 3천 주의 보통주를 재매입했으며, 규제 기준을 상회하는 자본 비율을 유지했습니다.

Westamerica Bancorporation (Nasdaq : WABC) a publié ses résultats financiers du deuxième trimestre 2025 avec un revenu net de 29,1 millions de dollars et un bénéfice par action dilué (BPA) de 1,12 dollar, comparé aux 31,0 millions de dollars et au BPA de 1,16 du premier trimestre 2025. La banque a maintenu une forte efficience opérationnelle avec un ratio d'efficacité de 39% et a généré un rendement des capitaux propres de 11,2%.

Les principaux indicateurs financiers incluent un revenu net d'intérêts (FTE) de 54,6 millions de dollars, en baisse par rapport à 56,4 millions au premier trimestre 2025, avec un rendement annualisé de 4,07% sur les prêts, obligations et liquidités. Le coût du financement de la banque est resté faible à 0,22%. La société a maintenu une solide qualité d'actifs avec des actifs non performants de 5,0 millions de dollars et une provision pour pertes sur crédits de 13,8 millions de dollars.

Au cours du deuxième trimestre, Westamerica a versé un dividende de 0,46 dollar par action et a racheté 773 000 actions ordinaires tout en maintenant des ratios de capital supérieurs aux exigences réglementaires.

Westamerica Bancorporation (Nasdaq: WABC) meldete die Finanzergebnisse für das zweite Quartal 2025 mit einem Nettoeinkommen von 29,1 Millionen US-Dollar und einem verwässerten Ergebnis je Aktie (EPS) von 1,12 US-Dollar, verglichen mit 31,0 Millionen US-Dollar und einem EPS von 1,16 im ersten Quartal 2025. Die Bank behielt eine starke operative Effizienz mit einer Effizienzquote von 39% bei und erzielte eine Eigenkapitalrendite von 11,2%.

Zu den wichtigsten finanziellen Kennzahlen gehören ein Nettozinsertrag (FTE) von 54,6 Millionen US-Dollar, der gegenüber 56,4 Millionen im ersten Quartal 2025 zurückging, mit einer annualisierten Rendite von 4,07% auf Kredite, Anleihen und Bargeld. Die Finanzierungskosten der Bank blieben mit 0,22% niedrig. Das Unternehmen hielt eine starke Vermögensqualität mit notleidenden Vermögenswerten von 5,0 Millionen US-Dollar und einer Rückstellung für Kreditverluste von 13,8 Millionen US-Dollar aufrecht.

Im zweiten Quartal zahlte Westamerica eine Dividende von 0,46 US-Dollar pro Aktie und kaufte 773.000 Stammaktien zurück, während es die Kapitalquoten über den regulatorischen Vorgaben hielt.

Positive
  • Low cost of funding at 0.22% for Q2 2025
  • Strong efficiency ratio of 39%
  • No provision for credit losses required in Q2 2025
  • Low nonperforming assets of $5.0 million
  • Active capital return through $0.46 dividend and 773,000 share repurchase
  • Capital ratios remain above highest regulatory guidelines
Negative
  • Net income declined to $29.1M in Q2 from $31.0M in Q1 2025
  • Net interest income (FTE) decreased to $54.6M from $56.4M quarter-over-quarter
  • Return on equity declined to 11.2% from 11.9% in previous quarter
  • Total loans decreased 9.0% year-over-year
  • Net interest margin contracted to 3.85% from 3.90% in Q1 2025

Insights

Westamerica delivered solid Q2 results with strong efficiency metrics despite net income declining from both Q1 2025 and year-over-year.

Westamerica Bancorporation reported Q2 2025 net income of $29.1 million with EPS of $1.12, down from $31.0 million ($1.16 per share) in Q1 2025 and $35.5 million ($1.33 per share) in Q2 2024. This represents an 18.0% year-over-year decline in net income.

The bank's performance reflects both strengths and challenges. On the positive side, Westamerica maintained exceptional cost efficiency with an efficiency ratio of 39.3%, meaning it spent just 39 cents to generate each dollar of revenue. Its funding costs remained remarkably low at 0.22%, significantly below industry averages.

However, the bank faced pressure on interest income. Net interest income (FTE) decreased to $54.6 million from $56.4 million in Q1 2025 and $64.1 million in Q2 2024. The net interest margin compressed to 3.85% from 3.90% in Q1 2025 and 4.15% a year ago, reflecting yield pressure on earning assets.

Asset quality remains extremely strong with nonperforming assets of just $5.0 million against an allowance for credit losses of $13.8 million. This strength allowed the bank to avoid any provision for credit losses during the quarter.

Westamerica's capital management is noteworthy. The bank maintained a 11.2% return on equity while returning capital to shareholders through both dividends ($0.46 per share) and share repurchases (773,000 shares). This combined approach to capital return helped support EPS despite declining net income.

The bank's loan portfolio decreased by 9.0% year-over-year to $762.2 million, with consumer loans showing the largest decline at 27.6%. Deposits also contracted by 6.9% year-over-year to $4.84 billion, with the loan-to-deposit ratio at a conservative 15.7%.

SAN RAFAEL, Calif., July 17, 2025 (GLOBE NEWSWIRE) -- Westamerica Bancorporation (Nasdaq: WABC), parent company of Westamerica Bank, generated net income for the second quarter 2025 of $29.1 million and diluted earnings per common share ("EPS") of $1.12. Second quarter 2025 results compare to first quarter 2025 net income of $31.0 million and EPS of $1.16.

"Westamerica’s second quarter 2025 results benefited from the Company’s low-cost operating principles. The annualized cost of funding interest-earning loans, bonds and cash was 0.22 percent for the second quarter 2025. The Company recognized no provision for credit losses in the second quarter 2025. At June 30, 2025, nonperforming assets were $5.0 million and the allowance for credit losses on loans was $13.8 million. Westamerica operated efficiently, spending 39 percent of its revenue on operating costs in the second quarter 2025”, said Chairman, President and CEO David Payne. “Second quarter 2025 results generated an annualized 11.2 percent return on average common equity. Westamerica paid a $0.46 per common share dividend during the second quarter 2025, and retired 773 thousand common shares using its share repurchase plan. Westamerica’s capital ratios remain at historically high levels exceeding the highest regulatory guidelines,” concluded Payne.

Net interest income on a fully-taxable equivalent (FTE) basis was $54.6 million for the second quarter 2025, compared to $56.4 million for the first quarter 2025. The annualized yield earned on loans, bonds and cash for the second quarter 2025 was 4.07 percent, compared to 4.14 percent for the first quarter 2025. The annualized cost of funding interest-earning loans, bonds and cash was 0.22 percent for the second quarter 2025, compared to 0.24 percent for the first quarter 2025.

The Company provided no provision for credit losses in the second quarter 2025 compared to a $550 thousand reversal of provision for credit losses in the first quarter of 2025. The allowance for credit losses on loans was $13.8 million at June 30, 2025 compared to $13.9 million at March 31, 2025.

Noninterest income for the second quarter 2025 totaled $10.3 million compared to $10.3 million for the first quarter 2025.

Noninterest expenses were $25.5 million for the second quarter 2025 and $25.1 million for the first quarter 2025. The increase in noninterest expense is primarily due to higher salaries and benefits expense due to more business days in the second quarter 2025 compared to the first quarter 2025 and higher occupancy and equipment expense.

The income tax provision (FTE) for the second quarter 2025 was $10.3 million compared to $11.1 million for the first quarter 2025.

Westamerica Bancorporation’s wholly owned subsidiary Westamerica Bank, operates commercial banking and trust offices throughout Northern and Central California.

Westamerica Bancorporation Web Address: www.westamerica.com

For additional information contact:
Westamerica Bancorporation
1108 Fifth Avenue, San Rafael, CA 94901
Robert A. Thorson – Investor Relations Contact
707-863-6090
investments@westamerica.com 

FORWARD-LOOKING INFORMATION:

The following appears in accordance with the Private Securities Litigation Reform Act of 1995:

This press release may contain 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. 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, 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, including the annual report for the year ended December 31, 2024 filed on Form 10-K and quarterly report for the quarter ended March 31, 2025 filed on Form 10-Q, 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 2010, 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. 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.

  Public Information July 17, 2025 
WESTAMERICA BANCORPORATION    
FINANCIAL HIGHLIGHTS    
June 30, 2025    
      
1. Net Income Summary.    
  (in thousands except per-share amounts)
    % 
  Q2'2025Q2'2024ChangeQ1'2025
 Net Interest and Loan Fee    
 Income (FTE)$54,562 $64,100 -14.9%$56,390 
 Reversal of Provision    
 for Credit Losses -  - n/m (550)
 Noninterest Income 10,315  10,500 -1.8% 10,321 
 Noninterest Expense 25,529  26,130 -2.3% 25,127 
 Income Before Taxes (FTE) 39,348  48,470 -18.8% 42,134 
 Income Tax Provision (FTE) 10,282  13,008 -21.0% 11,097 
 Net Income$29,066 $35,462 -18.0%$31,037 
      
 Average Common Shares    
 Outstanding 25,889  26,680 -3.0% 26,642 
 Diluted Average Common    
 Shares Outstanding 25,889  26,681 -3.0% 26,642 
      
 Operating Ratios:    
 Basic Earnings Per Common    
 Share$1.12 $1.33 -15.8%$1.16 
 Diluted Earnings Per    
 Common Share 1.12  1.33 -15.8% 1.16 
 Return On Assets (a) 1.93% 2.18%  2.03%
 Return On Common    
 Equity (a) 11.2% 14.4%  11.9%
 Net Interest Margin (FTE) (a) 3.85% 4.15%  3.90%
 Efficiency Ratio (FTE) 39.3% 35.0%  37.7%
      
 Dividends Paid Per Common    
 Share$0.46 $0.44 4.5%$0.44 
 Common Dividend Payout    
 Ratio 41% 33%  38%
      
    % 
  6/30'25YTD6/30'24YTDChange 
 Net Interest and Loan Fee    
 Income (FTE)$110,952 $130,194 -14.8% 
 (Reversal of) Provision    
 for Credit Losses (550) 300 n/m 
 Noninterest Income 20,636  20,597 0.2% 
 Noninterest Expense 50,656  52,229 -3.0% 
 Income Before Taxes (FTE) 81,482  98,262 -17.1% 
 Income Tax Provision (FTE) 21,379  26,383 -19.0% 
 Net Income$60,103 $71,879 -16.4% 
      
 Average Common Shares    
 Outstanding 26,263  26,677 -1.6% 
 Diluted Average Common    
 Shares Outstanding 26,263  26,678 -1.6% 
      
 Operating Ratios:    
 Basic Earnings Per Common    
 Share$2.29 $2.69 -14.9% 
 Diluted Earnings Per    
 Common Share 2.29  2.69 -14.9% 
 Return On Assets (a) 1.98% 2.21%  
 Return On Common    
 Equity (a) 11.6% 14.8%  
 Net Interest Margin (FTE) (a) 3.87% 4.23%  
 Efficiency Ratio (FTE) 38.5% 34.6%  
      
 Dividends Paid Per Common    
 Share$0.90 $0.88 2.3% 
 Common Dividend Payout    
 Ratio 39% 33%  
      
2. Net Interest Income.    
  (dollars in thousands)
    % 
  Q2'2025Q2'2024ChangeQ1'2025
 Interest and Loan Fee    
 Income (FTE)$57,751 $69,407 -16.8%$59,786 
 Interest Expense 3,189  5,307 -39.9% 3,396 
 Net Interest and Loan Fee    
 Income (FTE)$54,562 $64,100 -14.9%$56,390 
      
 Average Earning Assets$5,652,443 $6,145,626 -8.0%$5,794,836 
 Average Interest-Bearing    
 Liabilities 2,693,505  3,001,786 -10.3% 2,770,099 
      
 Yield on Earning Assets    
 (FTE) (a) 4.07% 4.50%  4.14%
 Cost of Funds (a) 0.22% 0.35%  0.24%
 Net Interest Margin (FTE) (a) 3.85% 4.15%  3.90%
 Interest Expense /    
 Interest-Bearing    
 Liabilities (a) 0.48% 0.71%  0.50%
 Net Interest Spread (FTE) (a) 3.59% 3.79%  3.64%
      
    % 
  6/30'25YTD6/30'24YTDChange 
 Interest and Loan Fee    
 Income (FTE)$117,537 $138,502 -15.1% 
 Interest Expense 6,585  8,308 -20.7% 
 Net Interest and Loan Fee    
 Income (FTE)$110,952 $130,194 -14.8% 
      
 Average Earning Assets$5,723,246 $6,132,497 -6.7% 
 Average Interest-Bearing    
 Liabilities 2,731,590  2,978,676 -8.3% 
      
 Yield on Earning Assets    
 (FTE) (a) 4.11% 4.50%  
 Cost of Funds (a) 0.24% 0.27%  
 Net Interest Margin (FTE) (a) 3.87% 4.23%  
 Interest Expense /    
 Interest-Bearing    
 Liabilities (a) 0.49% 0.56%  
 Net Interest Spread (FTE) (a) 3.62% 3.94%  
      
3. Loans & Other Earning Assets.    
  (average volume, dollars in thousands)
    % 
  Q2'2025Q2'2024ChangeQ1'2025
      
 Total Assets$6,042,100 $6,549,203 -7.7%$6,187,321 
 Total Earning Assets 5,652,443  6,145,626 -8.0% 5,794,836 
 Total Loans 762,216  838,016 -9.0% 789,935 
 Commercial Loans 115,943  133,605 -13.2% 120,189 
 Commercial Real Estate    
 Loans 488,960  487,209 0.4% 497,379 
 Consumer Loans 157,313  217,202 -27.6% 172,367 
 Total Investment Securities 4,236,303  4,944,191 -14.3% 4,395,565 
 Debt Securities Available for    
 Sale 3,400,199  4,079,896 -16.7% 3,553,755 
 Debt Securities Held to    
 Maturity 836,104  864,295 -3.3% 841,810 
 Total Interest-Bearing Cash 653,924  363,419 79.9% 609,336 
      
 Loans / Deposits 15.7% 16.1%  15.9%
      
    % 
  6/30'25YTD6/30'24YTDChange 
      
 Total Assets$6,114,310 $6,537,562 -6.5% 
 Total Earning Assets 5,723,246  6,132,497 -6.7% 
 Total Loans 775,999  845,785 -8.3% 
 Commercial Loans 118,054  133,514 -11.6% 
 Commercial Real Estate    
 Loans 493,146  488,099 1.0% 
 Consumer Loans 164,799  224,172 -26.5% 
 Total Investment Securities 4,315,494  5,021,365 -14.1% 
 Debt Securities Available for    
 Sale 3,476,553  4,152,185 -16.3% 
 Debt Securities Held to    
 Maturity 838,941  869,180 -3.5% 
 Total Interest-Bearing Cash 631,753  265,347 138.1% 
      
 Loans / Deposits 15.8% 16.0%  
      
4. Deposits, Other Interest-Bearing Liabilities & Equity.  
  (average volume, dollars in thousands)
    % 
  Q2'2025Q2'2024ChangeQ1'2025
      
 Total Deposits$4,841,803 $5,202,620 -6.9%$4,958,554 
 Noninterest Demand 2,245,077  2,485,023 -9.7% 2,293,059 
 Interest-Bearing Transaction 908,367  981,703 -7.5% 935,054 
 Savings 1,611,845  1,642,806 -1.9% 1,649,631 
 Time greater than $100K 27,306  34,721 -21.4% 29,460 
 Time less than $100K 49,208  58,367 -15.7% 51,350 
 Total Short-Term Borrowings 96,779  284,189 -65.9% 104,604 
 Bank Term Funding Program    
 Borrowings -  200,000 n/m - 
 Securities Sold under    
 Repurchase Agreements 96,779  84,189 15.0% 104,604 
 Shareholders' Equity 1,037,185  990,927 4.7% 1,055,925 
      
 Demand Deposits /    
 Total Deposits 46.4% 47.8%  46.2%
 Transaction & Savings    
 Deposits / Total Deposits 98.4% 98.2%  98.4%
      
    % 
  6/30'25YTD6/30'24YTDChange 
      
 Total Deposits$4,899,856 $5,290,840 -7.4% 
 Noninterest Demand 2,268,936  2,508,702 -9.6% 
 Interest-Bearing Transaction 921,637  1,019,998 -9.6% 
 Savings 1,630,633  1,667,261 -2.2% 
 Time greater than $100K 28,377  35,427 -19.9% 
 Time less than $100K 50,273  59,452 -15.4% 
 Total Short-Term Borrowings 100,670  196,538 -48.8% 
 Bank Term Funding Program    
 Borrowings -  131,291 n/m 
 Securities Sold under    
 Repurchase Agreements 100,670  65,247 54.3% 
 Shareholders' Equity 1,046,504  978,384 7.0% 
      
 Demand Deposits /    
 Total Deposits 46.3% 47.4%  
 Transaction & Savings    
 Deposits / Total Deposits 98.4% 98.2%  
      
5. Interest Yields Earned & Rates Paid.    
  (dollars in thousands) 
  Q2'2025 
  AverageIncome/Yield (a) / 
  VolumeExpenseRate (a) 
      
 Interest & Loan Fee Income Earned:    
 Total Earning Assets (FTE)$5,652,443 $57,751 4.07% 
 Total Loans (FTE) 762,216  10,591 5.57% 
 Commercial Loans (FTE) 115,943  1,833 6.34% 
 Commercial Real Estate    
 Loans 488,960  6,452 5.29% 
 Consumer Loans 157,313  2,306 5.88% 
 Total Investments (FTE) 4,236,303  39,887 3.75% 
 Total Debt Securities    
 Available for Sale (FTE) 3,400,199  31,354 3.67% 
 Corporate Securities 1,945,959  12,898 2.65% 
 Collateralized Loan    
 Obligations 792,914  12,405 6.19% 
 Agency Mortgage Backed    
 Securities 273,083  2,334 3.42% 
 Securities of U.S.    
 Government Sponsored    
 Entities 311,923  2,777 3.56% 
 Obligations of States and    
 Political Subdivisions    
 (FTE) 62,093  506 3.26% 
 Other Debt Securities    
 Available for Sale (FTE) 14,227  434 12.21% 
 Total Debt Securities Held to    
 Maturity (FTE) 836,104  8,533 4.08% 
 Agency Mortgage Backed    
 Securities 51,839  304 2.35% 
 Corporate Securities 737,787  7,816 4.24% 
 Obligations of States and    
 Political Subdivisions    
 (FTE) 46,478  413 3.56% 
 Total Interest-Bearing Cash 653,924  7,273 4.40% 
      
 Interest Expense Paid:    
 Total Earning Assets 5,652,443  3,189 0.22% 
 Total Interest-Bearing    
 Liabilities 2,693,505  3,189 0.48% 
 Total Interest-Bearing    
 Deposits 2,596,726  3,045 0.47% 
 Interest-Bearing Transaction 908,367  44 0.02% 
 Savings 1,611,845  2,950 0.73% 
 Time less than $100K 49,208  37 0.30% 
 Time greater than $100K 27,306  14 0.21% 
 Total Short-Term Borrowings 96,779  144 0.60% 
 Securities Sold under    
 Repurchase Agreements 96,779  144 0.60% 
      
 Net Interest Income and    
 Margin (FTE) $54,562 3.85% 
      
  Q2'2024 
  AverageIncome/Yield (a) / 
  VolumeExpenseRate (a) 
 Interest & Loan Fee Income Earned:    
 Total Earning Assets (FTE)$6,145,626 $69,407 4.50% 
 Total Loans (FTE) 838,016  11,441 5.49% 
 Commercial Loans (FTE) 133,605  2,418 7.28% 
 Commercial Real Estate    
 Loans 487,209  6,014 4.96% 
 Consumer Loans 217,202  3,009 5.57% 
 Total Investments (FTE) 4,944,191  53,005 4.27% 
 Total Debt Securities    
 Available for Sale (FTE) 4,079,896  44,236 4.31% 
 Corporate Securities 2,090,829  14,366 2.75% 
 Collateralized Loan    
 Obligations 1,347,475  24,620 7.23% 
 Agency Mortgage Backed    
 Securities 241,391  1,465 2.43% 
 Securities of U.S.    
 Government sponsored    
 entities 309,395  2,777 3.59% 
 Obligations of States and    
 Political Subdivisions    
 (FTE) 72,319  543 3.01% 
 U.S. Treasury Securities 4,260  54 5.08% 
 Other Debt Securities    
 Available for Sale (FTE) 14,227  411 11.55% 
 Total Debt Securities Held to    
 Maturity (FTE) 864,295  8,769 4.06% 
 Agency Mortgage Backed    
 Securities 70,804  401 2.27% 
 Corporate Securities 730,978  7,815 4.28% 
 Obligations of States and    
 Political Subdivisions    
 (FTE) 62,513  553 3.54% 
 Total Interest-Bearing Cash 363,419  4,961 5.40% 
      
 Interest Expense Paid:    
 Total Earning Assets 6,145,626  5,307 0.35% 
 Total Interest-Bearing    
 Liabilities 3,001,786  5,307 0.71% 
 Total Interest-Bearing    
 Deposits 2,717,597  2,460 0.36% 
 Interest-Bearing Transaction 981,703  69 0.03% 
 Savings 1,642,806  2,322 0.57% 
 Time less than $100K 58,367  49 0.34% 
 Time greater than $100K 34,721  20 0.23% 
 Total Short-Term Borrowings 284,189  2,847 4.02% 
 Bank Term Funding Program    
 Borrowings 200,000  2,692 5.40% 
 Securities Sold under    
 Repurchase Agreements 84,189  155 0.74% 
      
 Net Interest Income and    
 Margin (FTE) $64,100 4.15% 
      
6. Noninterest Income.    
  (dollars in thousands except per-share amounts)
    % 
  Q2'2025Q2'2024ChangeQ1'2025
 Service Charges on Deposit    
 Accounts$3,368 $3,469 -2.9%$3,381 
 Merchant Processing    
 Services 2,687  2,733 -1.7% 2,733 
 Debit Card Fees 1,664  1,706 -2.5% 1,581 
 Trust Fees 867  811 6.9% 899 
 ATM Processing Fees 482  540 -10.7% 463 
 Other Service Fees 450  450 0.0% 429 
 Life Insurance Gains 106  - n/m 102 
 Other Noninterest Income 691  791 -12.6% 733 
 Total Noninterest Income$10,315 $10,500 -1.8%$10,321 
      
 Operating Ratios:    
 Total Revenue (FTE)$64,877 $74,600 -13.0%$66,711 
 Noninterest Income /    
 Revenue (FTE) 15.9% 14.1%  15.5%
 Service Charges /    
 Avg. Deposits (a) 0.28% 0.27%  0.28%
 Total Revenue (FTE) Per    
 Avg. Common Share (a)$10.05 $11.25 -10.6%$10.16 
      
    % 
  6/30'25YTD6/30'24YTDChange 
 Service Charges on Deposit    
 Accounts$6,749 $6,939 -2.7% 
 Merchant Processing    
 Services 5,420  5,240 3.4% 
 Debit Card Fees 3,245  3,249 -0.1% 
 Trust Fees 1,766  1,605 10.0% 
 ATM Processing Fees 945  1,131 -16.4% 
 Other Service Fees 879  888 -1.0% 
 Life Insurance Gains 208  - n/m 
 Other Noninterest Income 1,424  1,545 -7.8% 
 Total Noninterest Income$20,636 $20,597 0.2% 
      
 Operating Ratios:    
 Total Revenue (FTE)$131,588 $150,791 -12.7% 
 Noninterest Income /    
 Revenue (FTE) 15.7% 13.7%  
 Service Charges /    
 Avg. Deposits (a) 0.28% 0.26%  
 Total Revenue (FTE) Per    
 Avg. Common Share (a)$10.10 $11.37 -11.1% 
      
7. Noninterest Expense.    
  (dollars in thousands)
    % 
  Q2'2025Q2'2024ChangeQ1'2025
      
 Salaries and Related Benefits$12,303 $12,483 -1.4%$12,126 
 Occupancy and Equipment 5,154  5,158 -0.1% 5,038 
 Outsourced Data Processing 2,709  2,511 7.9% 2,697 
 Limited Partnership    
 Operating Losses 915  1,440 -36.5% 915 
 Professional Fees 386  362 6.6% 395 
 Courier Service 687  686 0.1% 688 
 Other Noninterest Expense 3,375  3,490 -3.3% 3,268 
 Total Noninterest Expense$25,529 $26,130 -2.3%$25,127 
      
 Operating Ratios:    
 Noninterest Expense /    
 Avg. Earning Assets (a) 1.81% 1.71%  1.76%
 Noninterest Expense /    
 Revenues (FTE) 39.3% 35.0%  37.7%
      
    % 
  6/30'25YTD6/30'24YTDChange 
      
 Salaries and Related Benefits$24,429 $25,069 -2.6% 
 Occupancy and Equipment 10,192  10,198 -0.1% 
 Outsourced Data Processing 5,406  5,047 7.1% 
 Limited Partnership    
 Operating Losses 1,830  2,880 -36.5% 
 Professional Fees 781  764 2.2% 
 Courier Service 1,375  1,335 3.0% 
 Other Noninterest Expense 6,643  6,936 -4.2% 
 Total Noninterest Expense$50,656 $52,229 -3.0% 
      
 Operating Ratios:    
 Noninterest Expense /    
 Avg. Earning Assets (a) 1.78% 1.71%  
 Noninterest Expense /    
 Revenues (FTE) 38.5% 34.6%  
      
8. Allowance for Credit Losses.    
  (dollars in thousands)
    % 
  Q2'2025Q2'2024ChangeQ1'2025
      
 Average Total Loans$762,216 $838,016 -9.0%$789,935 
      
 Beginning of Period    
 Allowance for Credit    
 Losses on Loans (ACLL)$13,914 $15,879 -12.4%$14,780 
 Reversal of Provision for    
 Credit Losses -  - n/m (550)
 Net ACLL (Losses)    
 Recoveries (127) 73 n/m (316)
 End of Period ACLL$13,787 $15,952 -13.6%$13,914 
      
 Gross ACLL Recoveries /    
 Gross ACLL Losses 87% 105%  82%
 Net ACLL (Losses)    
 Recoveries/    
 Avg. Total Loans (a) -0.07% 0.04%  -0.16%
      
    % 
  6/30'25YTD6/30'24YTDChange 
      
 Average Total Loans$775,999 $845,785 -8.3% 
      
 Beginning of Period ACLL$14,780 $16,867 -12.4% 
 (Reversal of) Provision for    
 Credit Losses (550) 300 n/m 
 Net ACLL Losses (443) (1,215)-63.5% 
 End of Period ACLL$13,787 $15,952 -13.6% 
      
 Gross ACLL Recoveries /    
 Gross ACLL Losses 83% 66%  
 Net ACLL Losses /    
 Avg. Total Loans (a) -0.12% -0.29%  
      
  (dollars in thousands)
    % 
  6/30/256/30/24Change3/31/25
 Allowance for Credit Losses    
 on Loans$13,787 $15,952 -13.6%$13,914 
 Allowance for Credit Losses    
 on Held to Maturity    
 Securities 1  1 0.0% 1 
 Total Allowance for Credit    
 Losses$13,788 $15,953 -13.6%$13,915 
      
 Allowance for Unfunded    
 Credit Commitments$201 $201 0.0%$201 
      
9. Credit Quality.    
  (dollars in thousands)
    % 
  6/30/256/30/24Change3/31/25
 Nonperforming Loans:    
 Nonperforming Nonaccrual    
 Loans$- $971 n/m$- 
 Performing Nonaccrual    
 Loans 4,553  - n/m - 
 Total Nonaccrual Loans 4,553  971 368.9% - 
 Accruing Loans 90+ Days    
 Past Due 411  580 -29.1% 277 
 Total Nonperforming Loans$4,964 $1,551 220.1%$277 
      
 Total Loans Outstanding$748,264 $831,842 -10.0%$771,030 
      
 Total Assets 5,825,069  6,312,145 -7.7% 5,966,624 
      
 Loans:    
 Allowance for Credit Losses    
 on Loans$13,787 $15,952 -13.6%$13,914 
 Allowance for Credit Losses    
 on Loans / Loans 1.84% 1.92%  1.80%
 Nonperforming Loans /    
 Total Loans 0.66% 0.19%  0.04%
      
10. Liquidity.    
      
 At June 30, 2025, the Company had $626,437 thousand in cash balances. During the twelve months ending June 30, 2026, the Company expects to receive $288,000 thousand in principal payments from its debt securities. If additional operational liquidity is required, the Company can pledge debt securities as collateral for borrowing purposes; at June 30, 2025, the Company’s debt securities which qualify as collateral for borrowing totaled $3,522,823 thousand. In the ordinary course of business, the Company pledges debt securities as collateral for certain depository customers; at June 30, 2025, the Company had pledged $715,788 thousand in debt securities for depository customers. In the ordinary course of business, the Company pledges debt securities as collateral for borrowing from the Federal Reserve Bank; at June 30, 2025, the Company had pledged $703,398 thousand in debt securities at the Federal Reserve Bank. During the six months ended June 30, 2025, the Company’s average borrowings from the Federal Reserve Bank and correspondent banks were $-0- thousand and $-0- thousand, respectively, and at June 30, 2025, the Company had no borrowings from the Federal Reserve Bank or other correspondent banks. At June 30, 2025, the Company had access to borrowing from the Federal Reserve up to $703,398 thousand based on collateral pledged at June 30, 2025. At June 30, 2025, the Company’s estimated unpledged collateral qualifying debt securities totaled $1,683,788 thousand. Debt securities eligible as collateral are shown at market value.
      
     (in thousands)
     6/30/25
 Debt Securities Eligible as    
 Collateral:    
 Corporate Securities   $2,517,133 
 Collateralized Loan    
 Obligations rated AAA    257,649 
 Obligations of States and    
 Political Subdivisions    106,428 
 Agency Mortgage Backed    
 Securities    339,710 
 Securities of U.S. Government    
 Sponsored Entities    301,903 
 Total Debt Securities Eligible    
 as Collateral   $3,522,823 
      
 Debt Securities Pledged    
 as Collateral:    
 Debt Securities Pledged    
 at the Federal Reserve Bank   ($703,398)
 Deposits by Public Entities    (715,788)
 Securities Sold under    
 Repurchase Agreements    (412,956)
 Other    (6,893)
 Total Debt Securities Pledged    
 as Collateral   ($1,839,035)
      
 Estimated Debt Securities    
 Available to Pledge   $1,683,788 
      
11. Capital.    
  (in thousands, except per-share amounts)
    % 
  6/30/256/30/24Change3/31/25
      
 Shareholders' Equity$921,783 $815,600 13.0%$923,138 
 Total Assets 5,825,069  6,312,145 -7.7% 5,966,624 
 Shareholders' Equity/    
 Total Assets 15.82% 12.92%  15.47%
 Shareholders' Equity/    
 Total Loans 123.19% 98.05%  119.73%
 Tangible Common Equity    
 Ratio 14.03% 11.21%  13.71%
 Common Shares Outstanding 25,587  26,683 -4.1% 26,360 
 Common Equity Per Share$36.03 $30.57 17.9%$35.02 
 Market Value Per Common    
 Share 48.44  48.53 -0.2% 50.63 
      
  (shares in thousands)
    % 
  Q2'2025Q2'2024ChangeQ1'2025
 Share Retirements (Issuances):    
 Total Shares Retired 773  - n/m 361 
 Average Retirement Price$49.61 $- n/m$50.96 
 Net Shares Retired (Issued) 773  (5)n/m 348 
      
    % 
  6/30'25YTD6/30'24YTDChange 
      
 Total Shares Retired 1,134  4 n/m 
 Average Retirement Price$49.88 $45.58 n/m 
 Net Shares Retired (Issued) 1,121  (12)n/m 
     
12. Period-End Balance Sheets.    
  (unaudited, dollars in thousands)
    % 
  6/30/256/30/24Change3/31/25
 Assets:    
 Cash and Due from Banks$626,437 $486,124 28.9%$727,336 
      
 Debt Securities Available for    
 Sale:    
 Corporate Securities 1,792,021  1,855,618 -3.4% 1,802,791 
 Collateralized Loan    
 Obligations 780,147  1,255,110 -37.8% 822,111 
 Agency Mortgage Backed    
 Securities 291,543  222,806 30.9% 250,844 
 Securities of U.S.    
 Government Sponsored    
 Entities 301,903  291,206 3.7% 299,722 
 Obligations of States and    
 Political Subdivisions 60,835  69,758 -12.8% 60,581 
 U.S. Treasury Securities -  4,820 n/m - 
 Total Debt Securities    
 Available for Sale 3,226,449  3,699,318 -12.8% 3,236,049 
      
 Debt Securities Held to    
 Maturity:    
 Agency Mortgage Backed    
 Securities 49,878  67,777 -26.4% 53,528 
 Corporate Securities 738,846  732,049 0.9% 737,146 
 Obligations of States and    
 Political Subdivisions (1) 45,715  61,042 -25.1% 48,674 
 Total Debt Securities    
 Held to Maturity (1) 834,439  860,868 -3.1% 839,348 
      
 Loans 748,264  831,842 -10.0% 771,030 
 Allowance For Credit Losses    
 on Loans (13,787) (15,952)-13.6% (13,914)
 Total Loans, net 734,477  815,890 -10.0% 757,116 
      
 Premises and Equipment, net 25,850  26,275 -1.6% 25,722 
 Identifiable Intangibles, net 19  234 -91.9% 72 
 Goodwill 121,673  121,673 0.0% 121,673 
 Other Assets 255,725  301,763 -15.3% 259,308 
      
 Total Assets$5,825,069 $6,312,145 -7.7%$5,966,624 
      
 Liabilities and Shareholders'    
 Equity:    
 Deposits:    
 Noninterest-Bearing$2,175,841 $2,459,467 -11.5%$2,241,802 
 Interest-Bearing Transaction 894,774  936,186 -4.4% 920,461 
 Savings 1,603,974  1,646,781 -2.6% 1,633,445 
 Time 72,946  89,006 -18.0% 78,387 
 Total Deposits 4,747,535  5,131,440 -7.5% 4,874,095 
      
 Bank Term Funding    
 Program Borrowings -  200,000 n/m - 
 Securities Sold under    
 Repurchase Agreements 101,210  100,167 1.0% 113,219 
 Total Short-Term    
 Borrowed Funds 101,210  300,167 -66.3% 113,219 
      
 Other Liabilities 54,541  64,938 -16.0% 56,172 
 Total Liabilities 4,903,286  5,496,545 -10.8% 5,043,486 
      
 Shareholders' Equity:    
 Common Equity:    
 Paid-In Capital 456,964  474,618 -3.7% 470,844 
 Accumulated Other    
 Comprehensive Loss (116,747) (197,300)-40.8% (136,768)
 Retained Earnings 581,566  538,282 8.0% 589,062 
 Total Shareholders' Equity 921,783  815,600 13.0% 923,138 
      
 Total Liabilities and    
 Shareholders' Equity$5,825,069 $6,312,145 -7.7%$5,966,624 
      
13. Income Statements.    
  (unaudited, in thousands except per-share amounts)
    % 
  Q2'2025Q2'2024ChangeQ1'2025
 Interest and Loan Fee Income:    
 Loans$10,523 $11,354 -7.3%$10,669 
 Equity Securities 195  175 11.4% 195 
 Debt Securities Available    
 for Sale 31,028  43,927 -29.4% 33,430 
 Debt Securities Held to    
 Maturity 8,448  8,655 -2.4% 8,494 
 Interest-Bearing Cash 7,273  4,961 46.6% 6,703 
 Total Interest and Loan    
 Fee Income 57,467  69,072 -16.8% 59,491 
      
 Interest Expense:    
 Transaction Deposits 44  69 -36.2% 46 
 Savings Deposits 2,950  2,322 27.0% 3,128 
 Time Deposits 51  69 -26.1% 55 
 Bank Term Funding Program    
 Borrowings -  2,692 n/m - 
 Securities Sold under    
 Repurchase Agreements 144  155 -6.7% 167 
 Total Interest Expense 3,189  5,307 -39.9% 3,396 
      
 Net Interest and Loan    
 Fee Income 54,278  63,765 -14.9% 56,095 
      
 Reversal of Provision for    
 Credit Losses -  - n/m (550)
      
 Noninterest Income:    
 Service Charges on Deposit    
 Accounts 3,368  3,469 -2.9% 3,381 
 Merchant Processing    
 Services 2,687  2,733 -1.7% 2,733 
 Debit Card Fees 1,664  1,706 -2.5% 1,581 
 Trust Fees 867  811 6.9% 899 
 ATM Processing Fees 482  540 -10.7% 463 
 Other Service Fees 450  450 0.0% 429 
 Life Insurance Gains 106  - n/m 102 
 Other Noninterest Income 691  791 -12.6% 733 
 Total Noninterest Income 10,315  10,500 -1.8% 10,321 
      
 Noninterest Expense:    
 Salaries and Related Benefits 12,303  12,483 -1.4% 12,126 
 Occupancy and Equipment 5,154  5,158 -0.1% 5,038 
 Outsourced Data Processing 2,709  2,511 7.9% 2,697 
 Limited Partnership    
 Operating Losses 915  1,440 -36.5% 915 
 Professional Fees 386  362 6.6% 395 
 Courier Service 687  686 0.1% 688 
 Other Noninterest Expense 3,375  3,490 -3.3% 3,268 
 Total Noninterest Expense 25,529  26,130 -2.3% 25,127 
      
 Income Before Income Taxes 39,064  48,135 -18.8% 41,839 
 Income Tax Provision 9,998  12,673 -21.1% 10,802 
 Net Income$29,066 $35,462 -18.0%$31,037 
      
 Average Common Shares    
 Outstanding 25,889  26,680 -3.0% 26,642 
 Diluted Average Common    
 Shares Outstanding 25,889  26,681 -3.0% 26,642 
      
 Per Common Share Data:    
 Basic Earnings$1.12 $1.33 -15.8%$1.16 
 Diluted Earnings 1.12  1.33 -15.8% 1.16 
 Dividends Paid 0.46  0.44 4.5% 0.44 
      
    % 
  6/30'25YTD6/30'24YTDChange 
 Interest and Loan Fee Income:    
 Loans$21,192 $22,678 -6.6% 
 Equity Securities 390  349 11.7% 
 Debt Securities Available    
 for Sale 64,458  90,170 -28.5% 
 Debt Securities Held to    
 Maturity 16,942  17,377 -2.5% 
 Interest-Bearing Cash 13,976  7,244 92.9% 
 Total Interest and Loan    
 Fee Income 116,958  137,818 -15.1% 
      
 Interest Expense:    
 Transaction Deposits 90  188 -52.1% 
 Savings Deposits 6,078  4,239 43.4% 
 Time Deposits 106  139 -23.7% 
 Bank Term Funding Program    
 Borrowings -  3,535 n/m 
 Securities Sold under    
 Repurchase Agreements 311  207 50.2% 
 Total Interest Expense 6,585  8,308 -20.7% 
      
 Net Interest and Loan    
 Fee Income 110,373  129,510 -14.8% 
      
 (Reversal of) Provision    
 for Credit Losses (550) 300 n/m 
      
 Noninterest Income:    
 Service Charges on Deposit 6,749  6,939 -2.7% 
 Accounts    
 Merchant Processing    
 Services 5,420  5,240 3.4% 
 Debit Card Fees 3,245  3,249 -0.1% 
 Trust Fees 1,766  1,605 10.0% 
 ATM Processing Fees 945  1,131 -16.4% 
 Other Service Fees 879  888 -1.0% 
 Life Insurance Gains 208  - n/m 
 Other Noninterest Income 1,424  1,545 -7.8% 
 Total Noninterest Income 20,636  20,597 0.2% 
      
 Noninterest Expense:    
 Salaries and Related Benefits 24,429  25,069 -2.6% 
 Occupancy and Equipment 10,192  10,198 -0.1% 
 Outsourced Data Processing 5,406  5,047 7.1% 
 Limited Partnership    
 Operating Losses 1,830  2,880 -36.5% 
 Professional Fees 781  764 2.2% 
 Courier Service 1,375  1,335 3.0% 
 Other Noninterest Expense 6,643  6,936 -4.2% 
 Total Noninterest Expense 50,656  52,229 -3.0% 
      
 Income Before Income Taxes 80,903  97,578 -17.1% 
 Income Tax Provision 20,800  25,699 -19.1% 
 Net Income$60,103 $71,879 -16.4% 
      
 Average Common Shares    
 Outstanding 26,263  26,677 -1.6% 
 Diluted Average Common    
 Shares Outstanding 26,263  26,678 -1.6% 
      
 Per Common Share Data:    
 Basic Earnings$2.29 $2.69 -14.9% 
 Diluted Earnings 2.29  2.69 -14.9% 
 Dividends Paid 0.90  0.88 2.3% 
      
 Footnotes and Abbreviations:    
 (1) Debt Securities Held To Maturity and Obligations of States and Political Subdivisions are net of related reserve for expected credit losses of $1 thousand at June 30, 2025, March 31, 2025 and June 30, 2024.
      
 (FTE) Fully Taxable Equivalent. The Company presents its net interest margin and net interest income on a FTE basis using the current statutory federal tax rate. Management believes the FTE basis is valuable to the reader because the Company’s loan and investment securities portfolios contain a portion of municipal loans and securities that are federally tax exempt. The Company’s tax exempt loans and securities composition may not be similar to that of other banks, therefore in order to reflect the impact of the federally tax exempt loans and securities on the net interest margin and net interest income for comparability with other banks, the Company presents its net interest margin and net interest income on a FTE basis.
      
 (a) Annualized    
      

FAQ

What was Westamerica Bancorporation's (WABC) earnings per share in Q2 2025?

WABC reported diluted earnings per share of $1.12 in Q2 2025, compared to $1.16 in Q1 2025.

How much did WABC pay in dividends for Q2 2025?

Westamerica paid a $0.46 per common share dividend during Q2 2025, representing a 4.5% increase from $0.44 in Q2 2024.

What was WABC's efficiency ratio in Q2 2025?

The bank achieved an efficiency ratio of 39.3% in Q2 2025, spending 39 cents of every revenue dollar on operating costs.

What was Westamerica's return on equity in Q2 2025?

WABC generated an annualized return on equity of 11.2% in Q2 2025, down from 11.9% in Q1 2025.

How many shares did WABC repurchase in Q2 2025?

The company repurchased 773,000 common shares during Q2 2025 through its share repurchase plan.
Stock WABC logo
Westamerica Bancorporation

NASDAQ:WABC

WABC Rankings

#3188 Ranked by Market Cap
#913 Ranked by Dividends

WABC Latest News

Apr 24, 2025
Westamerica Bancorporation Increases Quarterly Cash Dividend
Apr 17, 2025
Westamerica Bancorporation Reports First Quarter 2025 Financial Results
Feb 27, 2025
Westamerica Bancorporation Announces Stock Repurchase Plan
Jan 23, 2025
Westamerica Bancorporation Declares Quarterly Cash Dividend
Jan 16, 2025
Westamerica Bancorporation Reports Fourth Quarter 2024 Financial Results

WABC Latest SEC Filings

Jul 17, 2025
[8-K] Westamerica Bancorporation Reports Material Event
Jul 11, 2025
[Form 4] Westamerica Bancorporation Insider Trading Activity
Jul 8, 2025
[Form 4] Westamerica Bancorporation Insider Trading Activity
Jul 3, 2025
[144] Westamerica Bancorporation SEC Filing

WABC Stock Data

1.35B
24.92M
4.66%
78.81%
0.86%
Banks - Regional
National Commercial Banks
Link
United States
SAN RAFAEL

Related Articles

Continue reading with these related stories

View All Latest News