Westamerica Bancorporation (WABC)

WABC Income Statement

Financials in millions USD. Fiscal year is January - December.

Fiscal Year	TTM	FY 2023	FY 2022	FY 2021	FY 2020	FY 2019
Period Ending	Sep 30, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019
Interest Income on Loans	45.73	47.12	49.68	57.56	59.38	58.15
Interest Income on Investments	230.94	236.9	172.07	115.89	106.48	100.53
Total Interest Income	276.66	284.01	221.76	173.44	165.86	158.68
Interest Paid on Deposits	9.31	3.77	1.85	1.88	1.77	1.85
Interest Paid on Borrowings	6.32	0.12	0.08	0.08	0.05	0.03
Total Interest Expense	15.63	3.89	1.93	1.96	1.82	1.89
Net Interest Income	261.03	280.12	219.83	171.49	164.03	156.79
Net Interest Income Growth (YoY)	-6.60%	27.43%	28.19%	4.55%	4.62%	4.69%
Trust Income	3.22	3.12	3.22	3.31	3.01	2.96
Gain (Loss) on Sale of Assets	-	-	-	-	3.54	-
Gain (Loss) on Sale of Investments	-	-0.13	-	0.03	0.07	0.22
Other Non-Interest Income	26.03	26.08	26.49	26.3	24.87	25.91
Total Non-Interest Income	43.31	43.24	44.19	43.35	45.64	46.98
Non-Interest Income Growth (YoY)	1.41%	-2.15%	1.95%	-5.02%	-2.85%	-1.24%
Revenues Before Loan Losses	304.34	323.37	264.02	214.83	209.67	203.77
Provision for Loan Losses	0.3	-1.15	-	-	4.3	-
Revenue	304.04	324.52	264.02	214.83	205.37	203.77
Revenue Growth (YoY)	-5.97%	22.91%	22.90%	4.61%	0.79%	3.26%
Salaries and Employee Benefits	48.5	46.52	44.82	46.59	48.87	49.31
Occupancy Expenses	13.74	13.92	13.31	12.56	12.94	20.24
Amortization of Goodwill & Intangibles	-	-	-	-	-	0.54
Selling, General & Administrative	22.45	22.21	22.81	23.03	22.42	15.56
Other Non-Interest Expense	13.84	14.82	12.7	13.01	11.89	12.79
Total Non-Interest Expense	104.06	103.22	99.36	97.81	98.57	98.43
EBT Excluding Unusual Items	199.99	221.3	164.66	117.03	106.8	105.34
Other Unusual Items	-	-	-	-	-	-0.55
Pretax Income	200.19	221.58	165.59	117.03	106.8	105.22
Income Tax Expense	53.79	59.81	43.56	30.52	26.39	24.83
Net Income	146.4	161.77	122.03	86.51	80.41	80.39
Net Income to Common	146.4	161.77	122.03	86.51	80.41	80.39
Net Income Growth	-9.43%	32.56%	41.07%	7.58%	0.03%	12.33%
Basic Shares Outstanding	27	27	27	27	27	27
Diluted Shares Outstanding	27	27	27	27	27	27
Shares Change (YoY)	-0.36%	-0.75%	0.14%	-0.33%	-0.17%	0.93%
EPS (Basic)	5.49	6.06	4.54	3.22	2.98	2.98
EPS (Diluted)	5.49	6.06	4.54	3.22	2.98	2.98
EPS Growth	-9.11%	33.51%	40.91%	8.05%	0%	11.61%
Dividend Per Share	1.760	1.720	1.680	1.650	1.640	1.630
Dividend Growth	3.53%	2.38%	1.82%	0.61%	0.61%	1.87%
Effective Tax Rate	26.87%	26.99%	26.30%	26.08%	24.71%	23.60%

Source: S&P Capital IQ. Banks template. Financial Sources.