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.