(RTTNews) - Westamerica Bancorporation (WABC), parent company of Westamerica Bank, Thursday announced 5.8 percent decline in second quarter earnings, while earnings per share grew from the prior year.
Currently, shares are at $61.23, up 2.21 points or 3.74 percent.
The quarterly earnings were $27.39 million, down from $29.07 million last year.
On a per share basis, earning were $1.17, up from $1.12 a year ago.
Net interest and Loan fee income on a fully-taxable equivalent was $52.67 million, lower than the prior income of $54.56 million.
Non-interest income slipped 0.2 percent to $10.29 million from $10.32 milion a year ago. This reflects higher merchant processing fees, debit card fees and unrealized gains recognized on equity securities.
The company said the second quarter results benefited from it's low-cost operating principles.
Westamerica paid a $0.48 per common share dividend during the second quarter 2026, and retired 753 thousand common shares using its share repurchase plan.
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