Note 19 - Westamerica Bancorporation (Parent Company Only)

12 Months Ended

Dec. 31, 2013

Condensed Financial Information of Parent Company Only Disclosure [Abstract]

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

Note 19: Westamerica Bancorporation (Parent Company Only)

Statements of Income and Comprehensive Income

	For the Years Ended December 31,
For the years ended December 31,	2013			2012			2011
	(In thousands)
Dividends from subsidiaries	$	88,754		$	88,755		$	106,756
Interest income		14			8			11
Other income		8,684			7,907			7,780
Total income		97,452			96,670			114,547
Interest on borrowings		707			820			859
Salaries and benefits		7,120			7,090			6,620
Other expense		2,174			1,734			2,356
Total expenses		10,001			9,644			9,835
Income before taxes and equity in undistributed income of subsidiaries		87,451			87,026			104,712
Income tax benefit		732			1,847			699
Earnings of subsidiaries less than subsidiary dividends		(21,006	)		(7,746	)		(17,523	)
Net income		67,177			81,127			87,888
Other comprehensive (loss) income, net of tax		(10,312	)		3,256			11,210
Comprehensive income	$	56,865		$	84,383		$	99,098

Balance Sheets

	At December 31,
	2013		2012
Assets	(In thousands)
Cash	$	12,839	$	13,219
Money market assets and investment securities available for sale		1,300		1,461
Investment in Westamerica Bank		503,219		534,467
Investment in non-bank subsidiaries		457		458
Premises and equipment, net		9,932		9,983
Accounts receivable from Westamerica Bank		303		613
Other assets		32,351		30,897
Total assets	$	560,401	$	591,098
Liabilities
Debt financing and notes payable	$	—	$	15,000
Accounts payable to Westamerica Bank		1,583		660
Other liabilities		15,884		15,336
Total liabilities		17,467		30,996
Shareholders’ equity		542,934		560,102
Total liabilities and shareholders’ equity	$	560,401	$	591,098

Statements of Cash Flows

	For the years ended December 31,
	2013			2012			2011
	(In thousands)
Operating Activities
Net income	$	67,177		$	81,127		$	87,888
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization		312			297			126
Decrease (increase) in accounts receivable from affiliates		26			105			(18	)
Increase in other assets		(926	)		(1,960	)		(1,951	)
Stock option compensation expense		1,397			1,450			1,425
Tax benefit decrease upon exercise of stock options		298			119			248
(Benefit) provision for deferred income tax		(769	)		(1,306	)		963
Increase in other liabilities		2,573			1,182			217
Earnings of subsidiaries less than subsidiary dividends		21,006			7,746			17,523
(Gain on sales) Writedown of property and equipment		(259	)		1,504			599
Net cash provided by operating activities		90,835			90,264			107,020
Investing Activities
Purchases of premises and equipment		—			(420	)		(1,154	)
Net decrease in short term investments		—			—			341
Net cash used in investing activities		—			(420	)		(813	)
Financing Activities
Net change in short-term debt		—			—			(1,000	)
Net reductions in notes payable and long-term borrowings		(15,000	)		—			(10,000	)
Exercise of stock options/issuance of shares		21,499			7,635			14,374
Tax benefit decrease upon exercise of stock options		(298	)		(119	)		(248	)
Retirement of common stock including repurchases		(57,320	)		(51,499	)		(60,505	)
Dividends		(40,096	)		(41,005	)		(41,670	)
Net cash used in financing activities		(91,215	)		(84,988	)		(99,049	)
Net change in cash		(380	)		4,856			7,158
Cash at beginning of year		13,219			8,363			1,205
Cash at end of year	$	12,839		$	13,219		$	8,363
Supplemental Cash Flow Disclosures:
Supplemental disclosure of cash flow activity:
Interest paid for the period	$	840		$	1,105		$	1,794
Income tax payments for the period		22,562			34,111			28,826