Westamerica Bancorporation Management

Management criteria checks 4/4

Westamerica Bancorporation's CEO is David Payne, appointed in Jan 1989, has a tenure of 35.33 years. total yearly compensation is $758.70K, comprised of 48.9% salary and 51.1% bonuses, including company stock and options. directly owns 4.23% of the company’s shares, worth €51.70M. The average tenure of the management team and the board of directors is 5.3 years and 4.5 years respectively.

Key information

David Payne

Chief executive officer

US$758.7k

Total compensation

CEO salary percentage	48.9%
CEO tenure	35.3yrs
CEO ownership	4.2%
Management average tenure	5.3yrs
Board average tenure	4.5yrs

Recent management updates

Recent updates

CEO Compensation Analysis

How has David Payne's remuneration changed compared to Westamerica Bancorporation's earnings?
Date	Total Compensation	Salary	Company Earnings
Mar 31 2024	n/a	n/a	US$158m
Dec 31 2023	US$759k	US$371k	US$162m
Sep 30 2023	n/a	n/a	US$162m
Jun 30 2023	n/a	n/a	US$155m
Mar 31 2023	n/a	n/a	US$140m
Dec 31 2022	US$750k	US$371k	US$122m
Sep 30 2022	n/a	n/a	US$104m
Jun 30 2022	n/a	n/a	US$92m
Mar 31 2022	n/a	n/a	US$89m
Dec 31 2021	US$751k	US$371k	US$87m
Sep 30 2021	n/a	n/a	US$89m
Jun 30 2021	n/a	n/a	US$87m
Mar 31 2021	n/a	n/a	US$84m
Dec 31 2020	US$699k	US$371k	US$80m
Sep 30 2020	n/a	n/a	US$77m
Jun 30 2020	n/a	n/a	US$78m
Mar 31 2020	n/a	n/a	US$78m
Dec 31 2019	US$695k	US$371k	US$80m
Sep 30 2019	n/a	n/a	US$79m
Jun 30 2019	n/a	n/a	US$75m
Mar 31 2019	n/a	n/a	US$74m
Dec 31 2018	US$641k	US$371k	US$72m
Sep 30 2018	n/a	n/a	US$57m
Jun 30 2018	n/a	n/a	US$55m
Mar 31 2018	n/a	n/a	US$52m
Dec 31 2017	US$615k	US$371k	US$50m

Compensation vs Market: David's total compensation ($USD758.70K) is below average for companies of similar size in the German market ($USD1.63M).

Compensation vs Earnings: David's compensation has been consistent with company performance over the past year.

CEO

David Payne (68 yo)

35.3yrs

Tenure

US$758,701

Compensation

Mr. David L. Payne serves as the Chairman and Chief Executive Officer at Westamerica Bancorporation since 1988 and 1989 respectively and serves as its President. Mr. Payne is also Chairman, President & Chi...

Leadership Team

Name	Position	Tenure	Compensation	Ownership
David Payne	Chairman	35.3yrs	US$758.70k	4.23% $ 51.7m
John Thorson	Senior VP & CFO	1.2yrs	US$649.86k	0.057% $ 700.8k
Russell Rizzardi	Senior VP & Chief Credit Administrator of Westamerica Bank	no data	US$457.01k	no data
Brian Donohoe	SVP and Manager of Operations & Systems Administration of Community Banker Services Corporation	5.3yrs	US$532.42k	0.013% $ 157.3k
Robert Baker	Regional VP & Senior Regional Market Manager of Southern Banking Division	no data	US$433.13k	0.015% $ 181.1k
Diane Cunningham	Corporate Executive Secretary	no data	no data	no data
George Ensinger	Senior VP & Human Resources Division Manager	5.3yrs	US$391.47k	0.018% $ 218.6k
Curtis Belton	Senior VP & Risk Officer	less than a year	no data	0.00025% $ 3.1k
Kris Irvine	VP & Corporate Secretary	no data	no data	no data
Robert Baker	Regional VP & Sr. Regional Mkt Manager	no data	no data	0.015% $ 181.1k

5.3yrs

Average Tenure

65.5yo

Average Age

Experienced Management: WB1's management team is seasoned and experienced (5.3 years average tenure).

Board Members

Name	Position	Tenure	Compensation	Ownership
David Payne	Chairman	40.3yrs	US$758.70k	4.23% $ 51.7m
E. Bowler	Independent Director	20.8yrs	US$43.00k	0.097% $ 1.2m
Edward Sylvester	Lead Independent Director	45.3yrs	US$55.86k	0.22% $ 2.6m
Martin Camsey	Independent Director	less than a year	no data	no data
Michele Hassid	Independent Director	4.7yrs	US$44.60k	0.0023% $ 28.6k
Melanie Chiesa	Independent Director	4.3yrs	US$42.95k	0.00094% $ 11.5k
Inez Wondeh	Independent Director	2.4yrs	US$40.04k	0.0019% $ 22.7k
Alisa Belew	Independent Director	less than a year	no data	0.00078% $ 9.5k

4.5yrs

Average Tenure

64yo

Average Age

Experienced Board: WB1's board of directors are considered experienced (4.5 years average tenure).

Westamerica Bancorporation Management

Management criteria checks 4/4

Key information

Recent management updates

Westamerica Bancorporation, Annual General Meeting, Apr 25, 2024

Chairman recently sold €1.8m worth of stock

Westamerica Bancorporation Appoints Alisa Belew to Its Board of Directors

Westamerica Bancorporation Appoints Martin Camsey as Independent Member of the Board of Directors, Effective February 22, 2024

Westamerica Bancorporation Announces Retirement of Ronald A. Nelson from Board of Directors

Insufficient new directors

Recent updates

Westamerica Bancorporation Declares Quarterly Cash Dividend, Payable on May 17, 2024

First quarter 2024 earnings released: EPS: US$1.37 (vs US$1.51 in 1Q 2023)

Westamerica Bancorporation to Report Q1, 2024 Results on Apr 18, 2024

Westamerica Bancorporation, Annual General Meeting, Apr 25, 2024

Full year 2023 earnings released: EPS: US$6.06 (vs US$4.54 in FY 2022)

Chairman recently sold €1.8m worth of stock

Westamerica Bancorporation Declares Quarterly Cash Dividend, Payable on February 16, 2024

Full year 2023 earnings released: EPS: US$6.07 (vs US$4.54 in FY 2022)

Westamerica Bancorporation Appoints Alisa Belew to Its Board of Directors

Westamerica Bancorporation Appoints Martin Camsey as Independent Member of the Board of Directors, Effective February 22, 2024

Westamerica Bancorporation to Report Q4, 2023 Results on Jan 18, 2024

Westamerica Bancorporation Announces Retirement of Ronald A. Nelson from Board of Directors

Westamerica Bancorporation Declares Quarterly Cash Dividend, Payable on November 17, 2023

Third quarter 2023 earnings released: EPS: US$1.56 (vs US$1.29 in 3Q 2022)

Westamerica Bancorporation to Report Q3, 2023 Results on Oct 19, 2023

Westamerica Bancorporation Declares Quarterly Cash Dividend, Payable on August 18, 2023

New major risk - Revenue and earnings growth

Second quarter 2023 earnings released: EPS: US$1.51 (vs US$0.94 in 2Q 2022)

First quarter 2023 earnings released: EPS: US$1.51 (vs US$0.84 in 1Q 2022)

Now 20% undervalued after recent price drop

Full year 2022 earnings released: EPS: US$4.54 (vs US$3.22 in FY 2021)

Insufficient new directors

Westamerica Bancorporation Declares Quarterly Cash Dividend, Payable on February 17, 2023

Full year 2022 earnings released: EPS: US$4.54 (vs US$3.22 in FY 2021)

Westamerica Bancorporation Declares Quarterly Cash Dividend, Payable November 18, 2022

Third quarter 2022 earnings released: EPS: US$1.29 (vs US$0.82 in 3Q 2021)

Westamerica Bancorporation to Report Q3, 2022 Results on Oct 20, 2022

Westamerica Bancorporation Declares Quarterly Cash Dividend, Payable on August 19, 2022

Second quarter 2022 earnings released: EPS: US$0.94 (vs US$0.84 in 2Q 2021)

Westamerica Bancorporation to Report Q2, 2022 Results on Jul 21, 2022

First quarter 2022 earnings released: EPS: US$0.84 (vs US$0.75 in 1Q 2021)

First quarter 2022 earnings released: EPS: US$0.84 (vs US$0.75 in 1Q 2021)

Full year 2021 earnings: Revenues and EPS in line with analyst expectations

Westamerica Bancorporation Announces Not Stand for Re-Election of Louis E. Bartolini to the Board of Directors

Insider recently sold €51k worth of stock

Westamerica Bancorporation Declares Quarterly Cash Dividend, Payable February 18, 2022

Full year 2021 earnings: Revenues and EPS in line with analyst expectations

Third quarter 2021 earnings released: EPS US$0.82 (vs US$0.74 in 3Q 2020)

Independent Director Etta Allen has left the company

Second quarter 2021 earnings released: EPS US$0.84 (vs US$0.73 in 2Q 2020)

Westamerica Bancorporation(NasdaqGS:WABC) dropped from Russell 3000 Growth Index

First quarter 2021 earnings released: EPS US$0.75 (vs US$0.63 in 1Q 2020)

Independent Director recently sold €117k worth of stock

First quarter 2021 earnings released: EPS US$0.75 (vs US$0.63 in 1Q 2020)

Westamerica Bancorporation to Report Q1, 2021 Results on Apr 15, 2021

Westamerica Bancorporation, Annual General Meeting, Apr 22, 2021

Full year 2020 earnings released: EPS US$2.99 (vs US$2.98 in FY 2019)

Revenue beats expectations

New 90-day high: €50.50

Full year 2020 earnings released: EPS US$2.99

Revenue beats expectations

New 90-day low: €43.20

Westamerica Bancorporation to Report Q4, 2020 Results on Jan 21, 2021

Revenue beats expectations

Third quarter 2020 earnings released: EPS US$0.74

New 90-day low: €43.60

Third-quarter earnings released: Revenue beats expectations

Third quarter earnings released

New 90-day low: €45.00

Westamerica Bancorporation to Report Q3, 2020 Results on Oct 15, 2020

First half earnings released

Westamerica Bancorporation to Report Q2, 2020 Results on Jul 16, 2020

CEO Compensation Analysis

CEO

Tenure

Compensation

Leadership Team

Average Tenure

Average Age