Westamerica Bancorp. Profit Falls - Quick Facts

(RTTNews) - Westamerica Bancorp. (WABC) Wednesday reported third-quarter net income of $16.7 million or $0.63 per share, a decline from $20 million or $0.73 per share last year.

On average, six analysts polled by Thomson Reuters estimated earnings of $0.63 per share for the quarter. Analysts' estimates typically exclude special items.

Net interest income for the quarter slid to $37 million from $44 million last year and noninterest income edged down to $14.4 million from $14.6 million.

Analysts had a consensus revenue estimate of $54.28 million for the quarter.

Net interest margin for the quarter was lower at 4.01 percent, compared with 4.67 percent last year.

Noninterest expense decreased to $27.8 million from $29.3 million a year ago.

Provision for loan losses for the quarter fell to $1.8 million from $2.8 million a year ago. Net loan losses charged against the allowance for loan losses totaled $810 thousand for the quarter, compared with $3.4 million in the prior year.