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Westamerica Bancorporation operates as a bank holding company for Westamerica Bank that provides various banking products and services to individual and commercial customers in the United States. The company accepts various deposit products from local businesses and professionals, as well as retail savings and checking accounts, as well as certificates of deposit. Its loan portfolio includes commercial, commercial real estate, residential real estate, real estate construction, consumer installment loans, as well as indirect automobile loans. The company serves small businesses, professionals, and consumers. The company was formerly known as Independent Bankshares Corporation and changed its name to Westamerica Bancorporation in 1983. Westamerica Bancorporation was founded in 1884 and is headquartered in San Rafael, California.
5-year financial trends. Figures in USD millions.
Latest fiscal year: 2025
Year-by-year revenue, profitability, and cash flow (USD millions, last 10 years)
| Year | Revenue | EBITDA | Net Profit | FCF | ROE | Rev Growth 1Y | NP Growth 1Y |
|---|---|---|---|---|---|---|---|
| 2025 | $258M | - | $116M | $120M | 12.4% | -12.2% | -16.2% |
| 2024 | $294M | - | $139M | $140M | 15.6% | -9.2% | -14.3% |
| 2023 | $324M | - | $162M | $157M | 20.9% | 22.2% | 32.6% |
| 2022 | $265M | - | $122M | $113M | 20.3% | - | - |
| 2021 | - |
Income statement, balance sheet, and cash flow as reported
Consolidated Figures in USD Millions.
| Metric | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Total Revenue | - | 264.95 | 323.64 | 293.75 | 258.06 |
| Operating Revenue | - | 264.95 | 323.64 | 293.75 | 258.06 |
| Selling General And Administration | - | 46.12 | 47.87 | 50.29 | 48.69 |
| Interest Income | - | 221.76 | 284.01 | 268.01 | 230.98 |
| Interest Expense | - | 1.92 | 3.89 | 17.42 | 13.71 |
| Net Interest Income | - | 219.83 | 280.12 | 250.60 | 217.27 |
| Pretax Income | - | 165.59 | 221.58 | 189.06 | 156.69 |
| Tax Provision | - | 43.56 | 59.81 | 50.42 | 40.51 |
| Tax Rate For Calcs | - | 0 | 0 | 0 | 0 |
| Tax Effect Of Unusual Items | - | 0 | 0 | 0 | 0 |
| Net Income Continuous Operations | - | 122.03 | 161.77 | 138.64 | 116.17 |
| Net Income From Continuing And Discontinued Operation | - | 122.03 | 161.77 | 138.64 | 116.17 |
| Net Income From Continuing Operation Net Minority Interest | - | 122.03 | 161.77 | 138.64 | 116.17 |
| Net Income | - | 122.03 | 161.77 | 138.64 | 116.17 |
| Net Income Common Stockholders | - | 122.03 | 161.77 | 138.64 | 116.17 |
| Net Income Including Noncontrolling Interests | - | 122.03 | 161.77 | 138.64 | 116.17 |
| Normalized Income | - | 122.03 | 161.77 | 138.64 | 116.17 |
| Diluted NI Availto Com Stockholders | - | 122.03 | 161.77 | 138.64 | 116.17 |
| Basic Average Shares | - | 26.90 | 26.70 | 26.68 | 25.67 |
| Diluted Average Shares | - | 26.91 | 26.71 | 26.69 | 25.67 |
| Reconciled Depreciation | - | 16.57 | 11.77 | 10.40 | 7.25 |
| Total Unusual Items | 0 | 0 | - | - | - |
| Total Unusual Items Excluding Goodwill | 0 | 0 | - | - | - |
| Special Income Charges | 0 | 0 | - | - | - |
| Gain On Sale Of Security | - | 0 | -0.12 | 0 | 0 |
| Depreciation Amortization Depletion Income Statement | 0.27 | - | - | - | - |
| Depreciation And Amortization In Income Statement | 0.27 | - | - | - | - |
| General And Administrative Expense | - | 46.12 | 47.87 | 50.29 | 48.69 |
| Other Gand A | 11.78 | - | - | - | - |
| Salaries And Wages | - | 46.12 | 47.87 | 50.29 | 48.69 |
| Amortization | 0.27 | - | - | - | - |
| Amortization Of Intangibles Income Statement | 0.27 | - | - | - | - |
| Occupancy And Equipment | - | 19.88 | 20.52 | 20.67 | 20.87 |
| Professional Expense And Contract Services Expense | - | 2.63 | 1.75 | 1.47 | 1.96 |
| Other Non Interest Expense | - | 25 | 27.32 | 26.77 | 26.76 |
Financial Services sector peers, ranked by market cap
| Company | Ticker | Market Cap | P/E | P/B | ROE | EV/EBITDA |
|---|---|---|---|---|---|---|
| Westamerica Bancorporationthis co. | WABC | $1.3B | 11.39 | 1.42 | 12.4% | - |
| Kemper Corporation | KMPR | $1.4B | 9.76 | 0.52 | 5.3% | - |
| Burke & Herbert Financial Services Corp. | BHRB | $1.3B | 10.93 | 1.52 | 13.9% | - |
| Goosehead Insurance, Inc. | GSHD | $1.3B | 32.20 | - | -41.5% | - |
| ProAssurance Corporation | PRA | $1.3B |
| - |
| - |
| - |
| - |
| - |
| - |
| 24.86 |
| 0.94 |
| 3.8% |
| - |
| Amalgamated Financial Corp. | AMAL | $1.3B | 12.12 | 1.59 | 13.1% | - |
| Peoples Bancorp Inc. | PEBO | $1.3B | 11.90 | 1.04 | 8.8% | - |
| Tompkins Financial Corporation | TMP | $1.2B | 7.74 | 1.33 | 17.2% | - |
| Atlanticus Holdings Corporation | ATLC | $1.2B | 10.17 | 2.04 | 20.1% | - |
| Peer Median | - | 11.41 | 1.33 | 11.0% | - | |