Note 20 - Westamerica Bancorporation (Parent Company Only)

12 Months Ended

Dec. 31, 2012

Condensed Financial Information of Parent Company Only Disclosure [Text Block]

Note 20: Westamerica Bancorporation (Parent Company Only)

Statements of Income and Comprehensive Income

	For the Years Ended December 31,
For the years ended December 31,	2012			2011			2010
	(In thousands)
Dividends from subsidiaries	$	88,755		$	106,756		$	68,784
Interest income		8			11			11
Other income		7,907			7,780			7,262
Total income		96,670			114,547			76,057
Interest on borrowings		820			859			1,824
Salaries and benefits		7,090			6,620			7,219
Other expense		1,734			2,356			1,749
Total expenses		9,644			9,835			10,792
Income before taxes and equity in undistributed income of subsidiaries		87,026			104,712			65,265
Income tax benefit		1,847			699			1,416
Earnings of subsidiaries (less) greater than subsidiary dividends		(7,746	)		(17,523	)		27,896
Net income		81,127			87,888			94,577
Other comprehensive income (loss), net of tax		3,256			11,210			(3,555	)
Comprehensive income	$	84,383		$	99,098		$	91,022

Balance Sheets

	At December 31,
	2012		2011
Assets	(In thousands)
Cash	$	13,219	$	8,363
Money market assets and investment securities available for sale		1,461		2,186
Investment in Westamerica Bank		534,467		538,658
Investment in non-bank subsidiaries		458		459
Premises and equipment, net		9,983		11,365
Accounts receivable from Westamerica Bank		613		719
Other assets		30,897		28,485
Total assets	$	591,098	$	590,235
Liabilities
Debt financing and notes payable	$	15,000	$	15,000
Accounts payable to Westamerica Bank		660		664
Other liabilities		15,336		15,930
Total liabilities		30,996		31,594
Shareholders’ equity		560,102		558,641
Total liabilities and shareholders’ equity	$	591,098	$	590,235

Statements of Cash Flows

	For the years ended December 31,
	2012			2011			2010
	(In thousands)
Operating Activities
Net income	$	81,127		$	87,888		$	94,577
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization		297			126			172
Decrease (increase) in accounts receivable from affiliates		105			(18	)		(11	)
Increase in other assets		(1,960	)		(1,951	)		(2,212	)
Stock option compensation expense		1,450			1,425			1,380
Tax benefit decrease (increase) upon exercise of stock options		119			248			(1,004	)
(Refund) provision for deferred income tax		(1,306	)		963			789
Increase in other liabilities		1,182			217			1,833
Earnings of subsidiaries less (greater) than subsidiary dividends		7,746			17,523			(27,896	)
Writedown of property and equipment		1,504			599			228
Net cash provided by operating activities		90,264			107,020			67,856
Investing Activities
Purchases of premises and equipment		(420	)		(1,154	)		(30	)
Net decrease in short term investments		—			341			—
Net cash used in investing activities		(420	)		(813	)		(30	)
Financing Activities
Net change in short-term debt		—			(1,000	)		(14,700	)
Net reductions in notes payable and long-term borrowings		—			(10,000	)		—
Exercise of stock options/issuance of shares		7,635			14,374			16,688
Tax benefit (decrease) increase upon exercise of stock options		(119	)		(248	)		1,004
Retirement of common stock including repurchases		(51,499	)		(60,505	)		(28,719	)
Dividends		(41,005	)		(41,670	)		(42,094	)
Net cash used in financing activities		(84,988	)		(99,049	)		(67,821	)
Net change in cash		4,856			7,158			5
Cash at beginning of year		8,363			1,205			1,200
Cash at end of year	$	13,219		$	8,363		$	1,205
Supplemental Cash Flow Disclosures:
Supplemental disclosure of cash flow activity:
Interest paid for the period	$	1,105		$	1,794		$	1,824
Income tax payments for the period		34,111			28,826			50,388