Westamerica Bancorporation (WABC)

WABC Income Statement

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

Fiscal Year	TTM	FY 2024	FY 2023	FY 2022	FY 2021	FY 2020
Period Ending	Dec 31, 2024	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020
Interest Income on Loans	45.29	45.29	47.12	49.68	57.56	59.38
Interest Income on Investments	222.73	222.73	236.9	172.07	115.89	106.48
Total Interest Income	268.01	268.01	284.01	221.76	173.44	165.86
Interest Paid on Deposits	10.94	10.94	3.77	1.85	1.88	1.77
Interest Paid on Borrowings	6.48	6.48	0.12	0.08	0.08	0.05
Total Interest Expense	17.42	17.42	3.89	1.93	1.96	1.82
Net Interest Income	250.6	250.6	280.12	219.83	171.49	164.03
Net Interest Income Growth (YoY)	-10.54%	-10.54%	27.43%	28.19%	4.55%	4.62%
Trust Income	3.32	3.32	3.12	3.22	3.31	3.01
Gain (Loss) on Sale of Assets	-	-	-	-	-	3.54
Gain (Loss) on Sale of Investments	-	-	-0.13	-	0.03	0.07
Other Non-Interest Income	25.61	25.61	26.08	26.49	26.3	24.87
Total Non-Interest Income	42.95	42.95	43.24	44.19	43.35	45.64
Non-Interest Income Growth (YoY)	-0.67%	-0.67%	-2.15%	1.95%	-5.02%	-2.85%
Revenues Before Loan Losses	293.55	293.55	323.37	264.02	214.83	209.67
Provision for Loan Losses	0.3	0.3	-1.15	-	-	4.3
Revenue	293.25	293.25	324.52	264.02	214.83	205.37
Revenue Growth (YoY)	-9.64%	-9.64%	22.91%	22.90%	4.61%	0.79%
Salaries and Employee Benefits	50.29	50.29	46.52	44.82	46.59	48.87
Occupancy Expenses	20.67	20.67	13.92	13.31	12.56	12.94
Selling, General & Administrative	14.45	14.45	22.21	22.81	23.03	22.42
Other Non-Interest Expense	13.79	13.79	14.82	12.7	13.01	11.89
Total Non-Interest Expense	104.39	104.39	103.22	99.36	97.81	98.57
EBT Excluding Unusual Items	188.86	188.86	221.3	164.66	117.03	106.8
Pretax Income	189.06	189.06	221.58	165.59	117.03	106.8
Income Tax Expense	50.42	50.42	59.81	43.56	30.52	26.39
Net Income	138.64	138.64	161.77	122.03	86.51	80.41
Net Income to Common	138.64	138.64	161.77	122.03	86.51	80.41
Net Income Growth	-14.30%	-14.30%	32.56%	41.07%	7.58%	0.03%
Basic Shares Outstanding	27	27	27	27	27	27
Diluted Shares Outstanding	27	27	27	27	27	27
Shares Change (YoY)	-0.07%	-0.07%	-0.75%	0.14%	-0.33%	-0.17%
EPS (Basic)	5.20	5.20	6.06	4.54	3.22	2.98
EPS (Diluted)	5.20	5.20	6.06	4.54	3.22	2.98
EPS Growth	-14.24%	-14.24%	33.51%	40.91%	8.05%	0%
Dividend Per Share	1.760	1.760	1.720	1.680	1.650	1.640
Dividend Growth	2.33%	2.33%	2.38%	1.82%	0.61%	0.61%
Effective Tax Rate	26.67%	26.67%	26.99%	26.30%	26.08%	24.71%

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