XML 42 R27.htm IDEA: XBRL DOCUMENT v3.10.0.1
Note 19 - Westamerica Bancorporation (Parent Company Only Condensed Financial Information)
12 Months Ended
Dec. 31, 2018
Notes to Financial Statements  
Condensed Financial Information of Parent Company Only Disclosure [Text Block]
Note
19:
Westamerica Bancorporation (Parent Company Only Condensed Financial Information)
 
Statements of Income and Comprehensive Income
 
    For the Years Ended December 31,
    2018   2017   2016
    (In thousands)
Dividends from subsidiaries   $
43,892
    $
12,728
    $
56,824
 
Interest income    
33
     
43
     
25
 
Other income    
9,447
     
8,590
     
8,315
 
Total income    
53,372
     
21,361
     
65,164
 
Interest on borrowings    
-
     
-
     
-
 
Salaries and benefits    
7,575
     
7,163
     
7,079
 
Other expense    
3,181
     
3,416
     
3,290
 
Total expense    
10,756
     
10,579
     
10,369
 
Income before taxes and equity in undistributed income of subsidiaries    
42,616
     
10,782
     
54,795
 
Income tax benefit    
919
     
241
     
1,025
 
Earnings of subsidiaries greater than subsidiary dividends    
28,029
     
39,002
     
3,033
 
Net income    
71,564
     
50,025
     
58,853
 
Other comprehensive loss, net of tax    
(19,681
)    
(6,758
)    
(10,749
)
Comprehensive income   $
51,883
    $
43,267
    $
48,104
 
 
 
Balance Sheets
 
    At December 31,
    2018   2017
    (In thousands)
Assets        
Cash   $
72,878
    $
53,409
 
Investment securities available for sale    
-
     
-
 
Investment in Westamerica Bank    
509,125
     
500,776
 
Investment in non-bank subsidiaries    
455
     
455
 
Premises and equipment, net    
10,400
     
9,639
 
Accounts receivable from Westamerica Bank    
580
     
538
 
Other assets    
36,990
     
40,547
 
Total assets   $
630,428
    $
605,364
 
Liabilities                
Accounts payable to Westamerica Bank   $
46
    $
92
 
Other liabilities    
14,791
     
15,033
 
Total liabilities    
14,837
     
15,125
 
Shareholders' equity    
615,591
     
590,239
 
Total liabilities and shareholders' equity   $
630,428
    $
605,364
 
 
Statements of Cash Flows
 
    For the Years Ended December 31,
    2018   2017   2016
    (In thousands)
Operating Activities                        
Net income   $
71,564
    $
50,025
    $
58,853
 
Adjustments to reconcile net income to net cash provided by operating activities:                        
Depreciation and amortization    
361
     
319
     
305
 
(Increase) decrease in accounts receivable from affiliates    
(43
)    
(16
)    
299
 
Increase in other assets    
(2,638
)    
(2,203
)    
(1,940
)
Stock option compensation expense    
1,988
     
1,824
     
1,494
 
Tax benefit increase upon exercise of stock options and expiration of stock options    
-
     
-
     
(394
)
Provision (benefit) for deferred income tax    
5,028
     
(3,971
)    
1,983
 
Increase in other liabilities    
978
     
202
     
1,392
 
Earnings of subsidiaries greater than subsidiary dividends    
(28,029
)    
(39,002
)    
(3,033
)
Life insurance gains    
(585
)    
-
     
-
 
Gain on sales of premises and equipment    
(538
)    
(793
)    
(79
)
Net Cash Provided by Operating Activities    
48,086
     
6,385
     
58,880
 
Investing Activities                        
Proceeds from life insurance    
1,169
     
-
     
-
 
Net Cash Provided by Investing Activities    
1,169
     
-
     
-
 
Financing Activities                        
Exercise of stock options/issuance of shares    
13,373
     
24,583
     
24,031
 
Taxes paid by withholding shares for tax purposes    
-
     
-
     
(356
)
Tax benefit increase (decrease) upon exercise of stock options and expiration of stock options    
-
     
-
     
394
 
Retirement of common stock    
(524
)    
(314
)    
(5,424
)
Dividends    
(42,635
)    
(41,299
)    
(39,924
)
Net Cash Used in Financing Activities    
(29,786
)    
(17,030
)    
(21,279
)
Net change in cash    
19,469
     
(10,645
)    
37,601
 
Cash at Beginning of Period    
53,409
     
64,054
     
26,453
 
Cash at End of Period   $
72,878
    $
53,409
    $
64,054
 
Supplemental Cash Flow Disclosures:                        
Supplemental disclosure of cash flow activities:                        
Interest paid for the period   $
-
    $
-
    $
-
 
Income tax payments for the period    
13,627
     
17,351
     
19,264