Financial Services >> CEO Interviews >> September 12, 2002
DAVID PAYNE is Chairman, President & CEO of Westamerica
Bancorporation, holding company of Westamerica Bank. Westamerica
Bancorporation, headquartered in San Rafael, has assets of $4.0
billion with 90 branches in 23 Northern and Central California
counties. Employment total is 1,400 people. Longtime a major
Westamerica shareholder, Mr. Payne was elected to the board in
1984, became chairman in 1988 and Chief Executive Officer the
following year. Since 1988, Westamerica?s dividends and capital
levels have more than tripled, as has asset size. Net income has
increased more than six-fold. Return on assets has tripled to its
current level of 2.20% and return on equity is currently over
25%. In part, the companys impressive growth over these past
years reflects a series of successful mergers with smaller
banking companies that share Westamerica?s community banking
philosophy: John Muir National Bank, Napa Valley Bancorporation,
PV Financial, CapitolBank -Sacramento, North Bay Bancorp,
ValliCorp Bank and First Counties Bank. Recently announced the
acquisition of Kerman State Bank. David Payne came to Westamerica
from his family printing, publishing and cable TV business. With
his well-diversified and solid bottom-line oriented background,
David successfully led Westamerica to a performance level that
far exceeds industry norms. Profile
Westamerica Bancorporation followed by a picture of things as
they are now?
Mr. Payne: The company was formed in 1962 as a single bank.
