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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, DC 20549
FORM 8-K
CURRENT REPORT PURSUANT
TO SECTION 13 OR 15(D) OF THE
SECURITIES EXCHANGE ACT OF 1934
Date of Report (Date of earliest event reported):
January 28, 2010
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WESTAMERICA BANCORPORATION
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(Exact Name of Registrant as Specified in Its Charter)
CALIFORNIA
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(State or Other Jurisdiction of Incorporation)
001-9383 94-2156203
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(Commission File Number) (IRS Employer Identification No.)
1108 Fifth Avenue, San Rafael, California 94901
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(Address of Principal Executive Offices) (Zip Code)
(707) 863-6000
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(Registrant's Telephone Number, Including Area Code)
Check the appropriate box below if the Form 8-K filing is intended to
simultaneously satisfy the filing obligation of the registrant under any
of the following provisions:
[] Written communications pursuant to Rule 425 under the Securities
Act (17 CFR 230.425)
[] Soliciting material pursuant to Rule 14a-12 under the Exchange
Act (17 CFR 240.14a-12)
[] Pre-commencement communications pursuant to Rule 14d-2(b) under
the Exchange Act (17 CFR 240.14d-2(b))
[] Pre-commencement communications pursuant to Rule 13e-4(c) under
the Exchange Act (17 CFR 240.13e-4(c))
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Exhibits
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99.1 Press release dated January 28, 2010
Item 8.01: Other Events
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On January 28, 2010 Westamerica Bancorporation declared a quarterly cash
dividend. A copy of the press release is attached as Exhibit 99.1 to this
Form 8-K and is incorporated herein by reference.
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Signatures
Pursuant to the Securities Exchange Act of 1934, the registrant has duly caused
this report to be signed on its behalf by the undersigned hereunto duly
authorized.
Westamerica Bancorporation
/s/ JOHN "ROBERT" THORSON
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John "Robert" Thorson
Senior Vice President and Chief Financial Officer
January 28, 2010
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INDEX TO EXHIBITS
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Sequentially
Exhibit No. Description Number Page
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(99.1) Press release dated 5-6
January 28, 2010
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Exhibit 99.1:
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FOR IMMEDIATE RELEASE
January 28, 2010
WESTAMERICA BANCORPORATION INCREASES
QUARTERLY CASH DIVIDEND
San Rafael, CA: The Board of Directors of Westamerica Bancorporation (NASDAQ:
WABC) today declared a quarterly cash dividend of $0.36 per share on common
stock outstanding to shareholders of record at the close of business on February
8, 2010. The dividend is payable February 19, 2010. This dividend represents a
$0.01 increase relative to the dividend paid in the previous quarter.
Chairman, President and CEO David Payne stated, "This dividend increase
recognizes Westamerica's net income is generating a 19 percent return on common
shareholders' equity, our capital levels are healthy, and our credit quality is
sound."
On January 21, 2010, Westamerica reported $23 million in net income applicable
to common shareholders for the three months ended December 31, 2009, or $0.79
diluted earnings per common share.
Westamerica Bancorporation, through its wholly owned subsidiary, Westamerica
Bank, operates 98 branches and two trust offices throughout Northern and Central
California.
Westamerica Bancorporation Web Address: www.westamerica.com
For additional information contact:
Westamerica Bancorporation
Robert A. Thorson - SVP & Chief Financial Officer
707-863-6840
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FORWARD-LOOKING INFORMATION:
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This press release contains forward-looking statements about Westamerica
Bancorporation for which it claims the protection of the safe harbor provisions
contained in the Private Securities Litigation Reform Act of 1995. Examples of
forward-looking statements include, but are not limited to: (i) projections of
revenues, expenses, income or loss, earnings or loss per share, the payment or
nonpayment of dividends, capital structure and other financial items; (ii)
statements of plans, objectives and expectations of the Company or its
management or board of directors, including those relating to products or
services; (iii) statements of future economic performance; and (iv) statements
of assumptions underlying such statements. Words such as "believes",
"anticipates", "expects", "intends", "targeted", "projected", "continue",
"remain", "will", "should", "may" and other similar expressions are intended to
identify forward-looking statements but are not the exclusive means of
identifying such statements.
These forward-looking statements are based on Management's current knowledge and
belief and include information concerning the Company's possible or assumed
future financial condition and results of operations. A number of factors, some
of which are beyond the Company's ability to predict or control, could cause
future results to differ materially from those contemplated. The Company's most
recent quarterly report on Form 10-Q for the quarter ended September 30, 2009
and annual report on Form 10-K for the year ended December 31, 2008 filed with
the Securities and Exchange Commission describe some of these factors. These
factors include but are not limited to (1) the length and severity of current
difficulties in the national and California economies and the effects of federal
and state government efforts to address those difficulties; (2) liquidity levels
in capital markets; (3) fluctuations in asset prices including, but not limited
to, stocks, bonds, real estate, and commodities; (4) the effect of acquisitions
and integration of acquired businesses including the recently acquired County
Bank; (5) economic uncertainty created by terrorist threats and attacks on the
United States, the actions taken in response, and the uncertain effect of these
events on the national and regional economies; (6) changes in the interest rate
environment; (7) changes in the regulatory environment; (8) competitive pressure
in the banking industry; (9) operational risks including data processing system
failures or fraud; (10) volatility of rate sensitive loans, deposits and
investments; (11) asset/liability management risks and liquidity risks; and (12)
changes in the securities markets. The Company undertakes no obligation to
update any forward-looking statements to reflect circumstances or events that
occur after the date forward-looking statements are made.
Forward-looking statements speak only as of the date they are made.
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