Westamerica Bancorporation · Fairfield, CA United States ·(NASDAQ (GS): WABC)
Company Description
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This link will open in a new window Annie get your checkbook? Not as wild as Buffalo Bill's West, Westamerica Bancorporation is the holding company for Westamerica Bank, which operates more than 100 branches in northern and central California. The bank offers individuals and businesses such standard fare as checking and savings accounts, as well as electronic banking, trust services, and credit cards. It focuses on the banking needs of small businesses; business loans and commercial mortgages together account for about 55% of the company's loan portfolio. Westamerica Bank, chartered in 1884, also originates construction, residential mortgage, and consumer loans. To read the full description, subscribe now.
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Key Westamerica Bancorporation Financials
| Company Type | Public - NASDAQ (GS): WABC Headquarters |
| Fiscal Year-End | December |
| 2008 Sales (mil.) | $173.2 |
| 2008 Employees | 881 |
Westamerica Bancorporation Executives
17 executives listed for Westamerica Bancorporation's Fairfield, CA location.
| Title | Name & Bio | Contact |
| Chairman, President, and CEO | David Payne | Network |
| SVP and CFO | Robert Thorson | Network |
| SVP and CFO | Andre Becker | Network |
Competition
Competitive Landscape for Westamerica Bancorporation
Demand for banking services is closely tied to economic activity and the level of interest rates. The profitability of individual banks depends on marketing skills, efficient operations, and good risk management. Large economies of scale exist in some segments of the industry, which has encouraged industry consolidation. Smaller banks can compete successfully in segments where customer service or knowledge of the local market is more important. The industry is capital-intensive and highly automated: annual revenue per employee is close to $300,000. Many banks and thrifts aggressively offered adjustable rate and subprime mortgages during the housing boom of the early 2000s only to find themselves saddled with loan defaults and extensive losses when the housing bubble burst. Deep exposure to subprime mortgages and mortgage-backed securities caused bank failures, government takeovers, and involuntary mergers. To read the full description, subscribe now.Top Westamerica Bancorporation Competitors
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