SAN RAFAEL, Calif. - Westamerica Bancorp., parent company of Westamerica Bank, Napa Valley Bank, and Bank of Lake County, reported unaudited fourth-quarter-1994 net income of $6.4 million, an 18% increase over the year-earlier period.

Return on assets increased to 1.24 and annualized return on equity rose to 15.3.

Earnings for the full year were $24.7 million compared with 1993 earnings of $9.5 million.

"Westamerica's net interest margin rose 4 basis points to 5.3% from the previous quarter, and improved credit quality trends allowed the company to lower its loan loss provision," said president and chief executive David Payne.

Total assets were $1.7 billion, up 1%.

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