1 star ratingAverage User Rating:
1 star rating based on 2 reviews.

Westamerica Bank

Westamerica Bank Locations
1108 Fifth Avenue
San Rafael, CA 94901
(415) 257-8000
www.westamerica.com



Westamerica Bank is headquartered in San Rafael and is the 17st largest bank in the state of California. It is also the 167th largest bank in the nation. It was established in 1884 and as of March of 2012, it had grown to 932 employees at 98 locations. Westamerica Bank has a 4-star health rating.


Data for Q1 2012


Institution Statistics


Westamerica Bank
FDIC Certificate #3430
BankRate ReportView
Year Established1884
Employees932
Primary RegulatorFED

Assets and Liabilities

Assets$5.01 billion
Loans$2.39 billion
Deposits$4.25 billion
Equity Capital$539.49 million
Loan Loss Allowance$31.88 million
Unbacked Noncurrent Loans$38.23 million
Real Estate Owned$20.17 million

Historic Data - March 2011

Assets$4.90 billion
Equity Capital$546.35 million
Loan Loss Allowance$34.32 million
Unbacked Noncurrent Loans$63.18 million
Real Estate Owned$14.61 million

Profit Margin - Quarterly

Net Interest Margin4.2%
Return on Assets1.71%
Return on Equity15.89%
Interest Income$48.27 million

Institution Health


Overall Score:
4 out of 5
4
Texas Ratio4
The Texas Ratio is an indicator of how much funds a bank has available compared to the total value of loans considered at risk. As of March 31, 2012 Westamerica Bank had $58.4 million in non-current loans and owned real-estate with $571.37 million in equity and loan loss allowances on hand to cover it. This gives Westamerica Bank a Texas Ratio of 10.22% which is above average. Any bank with a Texas Ratio near or greater than 100% is considered at risk.
Texas Ratio Trend4
The Texas Ratio for Westamerica Bank decreased slightly from 13.50% as of March 31, 2011 to 10.22% as of March 31, 2012, resulting in a positive change of 24.27%.This indicates that the balance sheet and financial strength for Westamerica Bank has improved slightly in recent periods.
Deposit Growth4
In the past year, Westamerica Bank has increased its total deposits by $108.02 million, resulting in 2.61% growth for the year. A strong track record of growth is an indicator of consumer confidence and the bank's ability to strengthen its balance sheet. The growth Westamerica Bank has shown is above average.
Capitalization4
Both FDIC and NCUA consider capitalization levels of banks and credit unions to be of high importance. Higher capitalization allows for a greater buffer when cover loans that may fail in the future. Westamerica Bank has $5.01 billion in assets with $571.37 million in equity, resulting in a capitalization level of 11.40%, which is above average.
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Westamerica "Takes Over" Sonoma Valley Bank And Cannot Handle It
1 stars - lacynthia - Friday, March 18, 2011 - 11:20 PM

My bank was Sonoma Valley Bank, which WestAmerica took over on February 14, 2011.

I was out of the country for a month before and unbeknownst to me, my ATM cards, which I needed for travel, were no longer valid as of Feb. 14. There was not sufficient warning that these precious cards that we count on for travel would not be valid for the future. (WA Bank has since apologized in an email to me, but the situation was unacceptable, to be left without ANY ACCESS to funds.

I came home and went to the closest branch of WestAmerica Bank, in Lafayette, California, where they seem particularly disorganized, overly demanding with security measures and inept. The first time I went in, the teller had no idea how to find my SV Bank account to deposit my checks, even though WA Bank was supposed to do the transition. I left and drove to Sonoma [about 1.5 hour drive], to do my banking. 

Again today, I went to the Lafayette branch [optimistically or stupidly] and had $31,000 [9 checks] to deposit. I also needed $2500 cash. They again fiddled around trying to find my new account information and said they would have to get the Fairfield office holding the SV Bank signature cards to fax mine to them before I could get any cash, BUT the Fairfield office's computer's were down. I had my valid CA driver's license with me but was told that it was useless, that plenty of people had fakes.

Then the teller added up my checks wrong, about $5000 short.  Each of the checks I was trying to deposit was over the $2500 that I wanted in cash, but they didn't seem to know how to do the deposit. I took my checks and left and drove to Sonoma again, to the WA converted branch. I am now going to close all 3 WA Bank accounts and will find a new bank. Whew.

As constructive criticism, the employees need TRAINING if they are going to transition customers from one bank to another. WestAmerica is a disaster.

7

Unfair To Employees
1 stars - helloeverybody - Tuesday, May 8, 2012 - 8:21 PM

I wasnt to happy when they started to downsize and laid off a lot of good workers ,as a bank they also dont work with the cutomers fees even if it was not their fault they act as if they care and make everything sound good but it is not really how they make it sound they have grown but what good is that when customers are upset and leave to other banks some of thier staff is really nice the bank itself are pretty but needs a lot of upgrading they are way behing in their times.

2