Westamerica Bancorporation’s fourth-quarter earnings were $58.9 million, up from $49.9 million for the same quarter the year before. Net income for the year was $121 million, a jump from $59.8 million in 2008.

Total assets for the San Rafael-based institution were $5.09 billion at year end, up 20.5 percent from $4.22 billion reported at the end of 2008.

Loan-loss provisions for the fourth quarter were reported at $3.3 million, up from $2.8 million in the previous quarter and up from $900,000 reported in the same quarter of 2008.

Total non-performing assets rose to $142 million from $14.3 million a year earlier.

Total deposits were $4.07 billion, up from $3.17 billion a year earlier.

Dividends paid per common share were $0.35, the same as last year and the previous quarter.

Stock was trading at $56.62 as of last week. The 52-week high was $57.07 per share.


Earnings for Bank of Marin Bancorp for the quarter were $2.8 million, up 0.3 percent from the same time last year. Earnings for the entire year were $12.8 million, up 5.1 percent from 2008.

Deposits for the year totaled $944.1 million, up 10.8 percent from $852.3 million the year before. Loans were reported at $917.7 million for the year, up 3.1 percent from $890.5 a year earlier. Non-performing loans were $11.6 million, 1.26 percent of the total loan portfolio.

Provision for loan losses was $5.5 million in 2009, compared with $5.0 million set aside in 2008. The total risk-based capital ratio is 12.3 percent. Fourth-quarter dividends were $0.15 per share, up from $0.14 in the previous quarter. Total assets are $1.21 billion, up 6.9 percent from $1.05 billion a year ago.


Circle Bancorp, parent company of Circle Bank and headquartered in Novato, reported net income of $590,000, up 41 percent compared with the same quarter a year earlier.

The bank reported net income of $1.6 million for the year, down slightly from $1.7 million in 2008.

Loans totaled $233 million for the year, up $5 million from the previous year. Deposits were reported at $203 million for 2009, an increase of $27 million from 2008. Total assets as of Dec. 31, 2009 were $263 million, up $9 million for the year.


Summit State Bank in Santa Rosa reported net income of $2.08 million for 2009, a more than 100 percent increase from $1 million earned the year before.

Total loans were reported at $288.2 million, compared with $299.6 million reported the year before. Loan loss provision for the final quarter was $1.2 million, compared with $220,000 for the same period last year. Total deposits were $264.3 million compared with $252.8 million the year before.

The bank’s net income for the fourth quarter was $355,000, down from $764,000 in the same quarter of 2008.

Total risk-based capital was reported at 19.3 percent, well above the 10.0 percent that is standard for a well capitalized institution.

A cash dividend was declared of $0.09 per share.

Total assets were $340 million as of Dec. 31, 2009.


Bank of Napa showed a net loss of $668,000 for the year, a 53 percent improvement from the year before.

The bank showed its first quarterly net operating profit since its founding in 2006.

Total assets at the end of the fourth quarter were reported to be $84.3 million, up $23.3 million from the year before. Loans were $63.4 million, up $16.7 million from the year before.

Deposits were reported to be $67.5 million, an increase of $23.795 over the previous year.

The bank showed its first profitable month in December 2009, earning a net income of $16,000.


Tamalpais Bancorp, parent company of Tamalpais Bank, is working out an agreement with the Federal Reserve Bank of San Francisco to help ensure compliance with a recent cease-and-desist order from the Federal Deposit Insurance Corp.

The Tamalpais Bancorp board of directors on Jan. 13 adopted a resolution allowing Mark Garwood, bancorp president and chief executive officer, to enter the agreement with the Fed.

Tamalpais Bank consented to the cease-and-desist order in September with the Federal Deposit Insurance Corp. and the California Department of Financial Institutions.

The order required the bank to reduce its commercial real estate loan exposure and improve liquidity.

The bank’s stock is trading at $1.33. Its 52-week range is $0.50 to $7.90.


Submit items for this column to Jenna V. Loceff at jlocecff@busjrnl.com, 707-521-4259 or fax 707-521-5292.