Fitch affirms Westamerica

Fitch Ratings said it affirmed the ratings of Westamerica Bancorp. and its banking subsidiary, Westamerica Bank, including the long- and short-term issuer default rating at A and F1, respectively.

The outlook remains stable.

The affirmation reflects the company's consistent robust earnings performance, risk-adverse credit culture, low-cost core deposit funding, tight expense controls and sound capital levels, all of which are key ratings drivers, Fitch said.

The agency said it views the company's long-tenured management team as instrumental in keeping the company tightly focused on its operating principles.

This is especially impressive given the weak economic environment and very depressed real estate housing markets, Fitch said.

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