Westamerica Bancorp Q4 Profit Meets Estimate

(RTTNews) - Westamerica Bancorp. (WABC), parent company of Westamerica Bank, reported net income for the fourth quarter of $15.0 million or $0.58 per share, compared to $16.1 million or $0.60 per share for the year-ago quarter.

Net interest income on a fully taxable equivalent basis fell to $37.3 million in the fourth quarter from $40.1 million a year earlier.

Provision for loan losses for the fourth quarter was $200,000, down from $1.6 million in the fourth quarter of 2013.

Non-interest income for the fourth quarter declined to $12.5 million from $14.0 million the previous year.

Analysts polled by Thomson Reuters expected the company to earn $0.58 per share on revenue of $50.46 million for the fourth quarter.