Questions? +1 (202) 335-3939 Login
Trusted News Since 1995
A service for business professionals · Friday, March 29, 2024 · 699,679,752 Articles · 3+ Million Readers

Westamerica Bancorporation Reports First Quarter 2018 Financial Results

SAN RAFAEL, Calif., April 19, 2018 (GLOBE NEWSWIRE) -- Westamerica Bancorporation (Nasdaq:WABC), parent company of Westamerica Bank, generated net income for the first quarter 2018 of $17.5 million and diluted earnings per common share ("EPS") of $0.66, compared to first quarter 2017 net income of $15.0 million and EPS of $0.57. Fourth quarter 2017 net income of $4.2 million and EPS of $0.16 include adjustments to asset values triggered by enactment of the Tax Cuts and Jobs Act of 2017 (“Act”), recognition of a loss contingency, and securities gains which collectively reduced EPS by $0.42.

"First quarter 2018 net income benefited from higher interest income as rising market interest rates are benefiting our asset yields. Our funding costs were unchanged, however, at 0.04 percent of earning assets due to the predominance of low-cost checking and savings accounts in our deposit base. Net interest income was $34.0 million for the first quarter 2018, compared to $33.7 million for the fourth quarter 2017 and $32.8 million for the first quarter 2017. First quarter 2018 net income also benefited from Westamerica’s operating efficiency; noninterest expenses were $24.2 million for the first quarter 2018 compared to $24.6 million for the first quarter 2017, said Chairman, President and CEO David Payne. “Asset quality remains strong with nonperforming assets totaling only $7.8 million at March 31, 2018, and net loan loss recoveries of $72 thousand for the first quarter 2018. First quarter 2018 results generated an 11.6 percent return on average common equity for our shareholders,” concluded Payne.

Interest income earned on loans and securities was $34.5 million for the first quarter 2018, compared to $34.2 million for the fourth quarter 2017 and $33.3 million for the first quarter 2017. Interest expense paid on deposits and short-term borrowed funds was $459 thousand for the first quarter 2018, compared to $471 thousand for the fourth quarter 2017 and $480 thousand for the first quarter 2017. Checking and savings deposits represented ninety-five percent of the Company’s average deposit base during the first quarter 2018; checking and savings deposits are less sensitive to rising interest rates than time deposits.

The Company recognized no provision for loan losses for the first quarter 2018 given stable nonperforming loan volumes and other credit quality attributes. At March 31, 2018, the allowance for loan losses totaled $23.1 million compared to $23.0 million at December 31, 2017.

Noninterest income for the first quarter 2018 totaled $12.0 million, compared to $20.3 million for the fourth quarter 2017 and $11.7 million for the first quarter 2017. Noninterest income for the fourth quarter 2017 included $8.0 million in securities gains.

Noninterest expense for the first quarter 2018 totaled $24.2 million, compared to $30.2 million for the fourth quarter 2017 and $24.6 million for the first quarter 2017. Noninterest expense for the fourth quarter 2017 included a $625 thousand impairment of low income housing limited partnership investments due to enactment of the Act and a $5.5 million loss contingency accrual.

The book tax provision for the first quarter 2018 was $4.3 million, compared to $19.7 million for the fourth quarter 2017 and $4.8 million for the first quarter 2017, representing effective tax rates of 19.7 percent, 82.6 percent and 24.3 percent, respectively. The book tax provisions for the first quarter 2018 and the first quarter 2017 include tax benefits of $451 thousand and $671 thousand, respectively, for tax deductions from the exercise of employee stock options which exceed related compensation expenses recognized in the financial statements; these benefits reduced the effective tax rate by 2.0 percent and 3.4 percent, respectively. The lower effective tax rate for the first quarter 2018 reflects a reduction in the federal corporate tax rate due to the Act. The book tax provision for the fourth quarter 2017 includes a charge of $12.3 million to re-measure the Company’s net deferred tax asset triggered by enactment of the Act.

Westamerica Bancorporation, through its wholly owned subsidiary Westamerica Bank, operates commercial banking and trust offices throughout Northern and Central California.

Westamerica Bancorporation Web Address: www.westamerica.com

For additional information contact:
Westamerica Bancorporation
1108 Fifth Avenue, San Rafael, CA 94901
Robert A. Thorson – SVP & Chief Financial Officer
707-863-6840
investments@westamerica.com 

FORWARD-LOOKING INFORMATION:

The following appears in accordance with the Private Securities Litigation Reform Act of 1995:

This press release may contain forward-looking statements about the Company, including descriptions of plans or objectives of its management for future operations, products or services, and forecasts of its revenues, earnings or other measures of economic performance. Forward-looking statements can be identified by the fact that they do not relate strictly to historical or current facts. They often include the words "believe," "expect," "anticipate," "intend," "plan," "estimate," or words of similar meaning, or future or conditional verbs such as "will," "would," "should," "could," or "may."

Forward-looking statements, by their nature, are subject to risks and uncertainties. A number of factors — many of which are beyond the Company's control — could cause actual conditions, events or results to differ significantly from those described in the forward-looking statements. The Company's most recent reports filed with the Securities and Exchange Commission, including the annual report for the year ended December 31, 2017 filed on Form 10-K and quarterly report for the quarter ended September 30, 2017 filed on Form 10-Q, describe some of these factors, including certain credit, interest rate, operational, liquidity and market risks associated with the Company's business and operations. Other factors described in these reports include changes in business and economic conditions, competition, fiscal and monetary policies, disintermediation, legislation including the Dodd-Frank Wall Street Reform and Consumer Protection Act of 2011, the Sarbanes-Oxley Act of 2002 and the Gramm-Leach-Bliley Act of 1999, and mergers and acquisitions.

Forward-looking statements speak only as of the date they are made. The Company does not undertake to update forward-looking statements to reflect circumstances or events that occur after the date forward looking statements are made.

WESTAMERICA BANCORPORATION        
FINANCIAL HIGHLIGHTS          
March 31, 2018          
             
1. Net Income Summary.          
    (in thousands except per-share amounts)  
        %    
    Q1'18 Q1'17 Change Q4'17  
             
  Net Interest and Fee Income (FTE) $35,467   $36,030   -1.6 % $36,644    
  Provision for Loan Losses     -       -   n/m       -    
  Noninterest Income   11,955     11,657   2.6 %   20,300    
  Noninterest Expense   24,214     24,615   -1.6 %   30,167    
  Income Before Taxes (FTE)   23,208     23,072   0.6 %   26,777    
  Income Tax Provision (FTE)   5,702     8,023   -28.9 %   22,617    
  Net Income $17,506   $15,049   16.3 % $4,160    
             
  Average Common Shares Outstanding   26,532     26,171   1.4 %   26,384    
  Diluted Average Common Shares   26,665     26,329   1.3 %   26,538    
             
  Operating Ratios:          
  Basic Earnings Per Common Share $0.66   $0.58   13.8 % $0.16    
  Diluted Earnings Per Common Share   0.66     0.57   15.8 %   0.16    
  Return On Assets (a)   1.28 %   1.13 %     0.30 %  
  Return On Common Equity (a)   11.6 %   10.5 %     2.7 %  
  Net Interest Margin (FTE) (a)   3.02 %   3.14 %     3.12 %  
  Efficiency Ratio (FTE)   51.1 %   51.6 %     53.0 %  
             
  Dividends Paid Per Common Share $0.40   $0.39   2.6 % $0.40    
  Common Dividend Payout Ratio    61 %   68 %     250 %  
             
2. Net Interest Income.          
    (dollars in thousands)  
        %    
    Q1'18 Q1'17 Change Q4'17  
             
  Interest and Fee Income (FTE) $35,926   $36,510   -1.6 % $37,115    
  Interest Expense   459     480   -4.3 %   471    
  Net Interest and Fee Income (FTE) $35,467   $36,030   -1.6 % $36,644    
             
  Average Earning Assets $4,723,213   $4,620,001   2.2 % $4,682,897    
  Average Interest-          
  Bearing Liabilities   2,734,227     2,704,472   1.1 %   2,701,190    
             
  Yield on Earning Assets (FTE) (a)   3.06 %   3.18 %     3.16 %  
  Cost of Funds (a)   0.04 %   0.04 %     0.04 %  
  Net Interest Margin (FTE) (a)   3.02 %   3.14 %     3.12 %  
  Interest Expense/          
  Interest-Bearing Liabilities (a)   0.07 %   0.07 %     0.07 %  
  Net Interest Spread (FTE) (a)   2.99 %   3.11 %     3.09 %  
             
3. Loans & Other Earning Assets.          
    (average volume, dollars in thousands)  
        %    
    Q1'18 Q1'17 Change Q4'17  
             
  Total Assets   $5,564,705     $5,395,783   3.1 %   $5,534,700    
  Total Earning Assets   4,723,213     4,620,001   2.2 %   4,682,897    
  Total Loans   1,243,750     1,355,250   -8.2 %   1,285,748    
  Commercial Loans   316,345     354,896   -10.9 %   327,790    
  Commercial RE Loans   556,034     558,485   -0.4 %   575,984    
  Consumer Loans   371,371     441,869   -16.0 %   381,974    
  Total Investment Securities   3,479,463     3,264,751   6.6 %   3,397,149    
  Equity Securities   1,993     3,113   -36.0 %   2,675    
  Debt Securities Available For Sale   2,341,414     1,937,915   20.8 %   2,213,379    
  Debt Securities Held To Maturity   1,136,056     1,323,723   -14.2 %   1,181,095    
             
  Loans/Deposits   25.8 %   28.9 %     26.7 %  
             
4. Deposits, Other Interest-Bearing Liabilities & Equity.        
    (average volume, dollars in thousands)  
        %    
    Q1'18 Q1'17 Change Q4'17  
             
  Total Deposits   $4,828,352     $4,692,746   2.9 %   $4,811,035    
  Noninterest Demand   2,156,626     2,056,858   4.9 %   2,172,678    
  Interest Bearing Transaction   925,533     880,387   5.1 %   899,822    
  Savings   1,518,028     1,501,961   1.1 %   1,501,872    
  Time greater than $100K   103,145     112,140   -8.0 %   106,746    
  Time less than $100K   125,020     141,400   -11.6 %   129,917    
  Total Short-Term Borrowings   62,501     68,584   -8.9 %   62,833    
  Shareholders' Equity   613,860     582,384   5.4 %   610,200    
             
  Demand Deposits/          
  Total Deposits   44.7 %   43.8 %     45.2 %  
  Transaction & Savings          
  Deposits / Total Deposits   95.3 %   94.6 %     95.1 %  
             
5. Interest Yields Earned & Rates Paid.        
    (dollars in thousands)    
    Q1'18    
    Average Income/ Yield (a) /    
    Volume Expense Rate    
             
  Interest & Fee Income Earned          
  Total Earning Assets (FTE)   $4,723,213     $35,926   3.06 %    
  Total Loans (FTE)     1,243,750     14,822   4.83 %    
  Commercial Loans (FTE)   316,345     3,791   4.86 %    
  Commercial RE Loans   556,034     7,632   5.57 %    
  Consumer Loans   371,371     3,399   3.70 %    
  Total Investments (FTE)   3,479,463     21,104   2.43 %    
             
  Interest Expense Paid          
  Total Earning Assets   4,723,213     459   0.04 %    
  Total Interest-Bearing Liabilities   2,734,227     459   0.07 %    
  Total Interest-Bearing Deposits   2,671,726     450   0.07 %    
  Interest-Bearing Transaction   925,533     60   0.03 %    
  Savings   1,518,028     222   0.06 %    
  Time less than $100K   125,020     71   0.23 %    
  Time greater than $100K   103,145     97   0.38 %    
  Total Short-Term Borrowings   62,501     9   0.06 %    
             
  Net Interest Income and          
  Margin (FTE)     $35,467   3.02 %    
             
    Q1'17    
    Average Income/ Yield (a) /    
    Volume Expense Rate    
             
  Interest & Fee Income Earned          
  Total Earning Assets (FTE)   $4,620,001     $36,510   3.18 %    
  Total Loans (FTE)   1,355,250     16,069   4.81 %    
  Commercial Loans (FTE)   354,896     4,136   4.73 %    
  Commercial RE Loans   558,485     8,072   5.86 %    
  Consumer Loans   441,869     3,861   3.53 %    
  Total Investments (FTE)   3,264,751     20,441   2.50 %    
             
  Interest Expense Paid          
  Total Earning Assets   4,620,001     480   0.04 %    
  Total Interest-Bearing Liabilities   2,704,472     480   0.07 %    
  Total Interest-Bearing Deposits   2,635,888     469   0.07 %    
  Interest-Bearing Transaction   880,387     57   0.03 %    
  Savings   1,501,961     223   0.06 %    
  Time less than $100K   141,400     83   0.24 %    
  Time greater than $100K   112,140     106   0.38 %    
  Total Short-Term Borrowings   68,584     11   0.06 %    
             
  Net Interest Income and          
  Margin (FTE)     $36,030   3.14 %    
             
6. Noninterest Income.          
    (dollars in thousands except per-share amounts)  
        %    
    Q1'18 Q1'17 Change Q4'17  
             
  Service Charges on Deposits   $4,752     $4,923   -3.5 %   $4,756    
  Merchant Processing Services   2,420     1,875   29.1 %   2,346    
  Debit Card Fees   1,605     1,481   8.4 %   1,569    
  Other Service Fees   631     650   -2.9 %   620    
  ATM Processing Fees   664     575   15.4 %   696    
  Trust Fees   743     702   5.8 %   739    
  Financial Services Commissions   114     195   -41.5 %   155    
  Equity Securities (Losses) Gains   (36 )     -     n/m       7,955    
  Other Income   1,062     1,256   -15.5 %   1,464    
  Total Noninterest Income   $11,955     $11,657   2.6 %   $20,300    
             
  Total Revenue (FTE)   $47,422     $47,687   -0.6 %   $56,944    
  Noninterest Income/Revenue (FTE)   25.2 %   24.4 %     35.6 %  
  Service Charges/Avg. Deposits (a)   0.40 %   0.43 %     0.39 %  
  Total Revenues (FTE) Per Avg.          
  Common Share (a)   $7.25     $7.39   -1.9 %   $8.56    
             
7. Noninterest Expense.          
    (dollars in thousands)  
        %    
    Q1'18 Q1'17 Change Q4'17  
             
  Salaries & Benefits   $13,351     $13,070   2.1 %   $12,652    
  Loss Contingency (2)     -       -   n/m       5,542    
  Occupancy and Equipment   4,691     4,887   -4.0 %   4,860    
  Outsourced Data Processing   2,340     2,139   9.4 %   2,325    
  Amortization of          
  Identifiable Intangibles   570     800   -28.7 %   755    
  Professional Fees   785     611   28.3 %   627    
  Impairment of Tax Credit Investments     -       -   n/m       625    
  Courier Service   463     421   10.1 %   423    
  Other Operating   2,014     2,687   -25.0 %   2,358    
  Total Noninterest Expense   $24,214     $24,615   -1.6 %   $30,167    
             
  Noninterest Expense/          
  Avg. Earning Assets (a)   2.08 %   2.16 %     2.56 %  
  Noninterest Expense/Revenues (FTE)   51.1 %   51.6 %     53.0 %  
             
8. Allowance for Loan Losses.          
    (dollars in thousands)  
        %    
    Q1'18 Q1'17 Change Q4'17  
             
  Average Total Loans   $1,243,750     $1,355,250   -8.2 %   $1,285,748    
             
  Allowance for Loan Loss (ALL)         
  Beginning of Period    $23,009     $25,954   -11.3 %   $23,628    
  Provision for Loan Losses      -       -   n/m       -    
  Net ALL Recoveries (Losses)   72     (1,035 ) n/m     (619 )  
  ALL End of Period   $23,081     $24,919   -7.4 %   23,009    
  ALL Recoveries/Gross ALL Losses    105 %   44 %     47 %  
             
  Net ALL (Recoveries) Losses /          
  Avg. Total Loans (a)   -0.02 %   0.31 %     0.19 %  
             
9. Credit Quality.          
    (dollars in thousands)  
        %    
    3/31/18 3/31/17 Change 12/31/17  
             
  Nonperforming Loans (1):          
  Nonperforming Nonaccrual   $2,030     $2,382   -14.8 %   $1,641    
  Performing Nonaccrual     4,110       4,285   -4.1 %     4,285    
  Total Nonaccrual Loans   6,140     6,667   -7.9 %   5,926    
  90+ Days Past Due Accruing Loans   255     373   -31.6 %   531    
  Total   6,395     7,040   -9.2 %   6,457    
  Repossessed Loan Collateral (1)   1,376     2,136   -35.6 %   1,426    
  Total Nonperforming Assets (1)   $7,771     $9,176   -15.3 %   $7,883    
             
  Total Loans Outstanding   $1,228,584     $1,351,090   -9.1 %   $1,287,982    
             
  Total Assets   $5,551,036     $5,395,947   2.9 %   $5,513,046    
             
  Loans:          
  Allowance for Loan Losses   $23,081     $24,919   -7.4 %   $23,009    
  Allowance/Loans   1.88 %   1.84 %     1.79 %  
  Nonperforming Loans/Total Loans   0.52 %   0.52 %     0.50 %  
             
10. Capital.          
    (in thousands, except per-share amounts)  
        %    
    3/31/18 3/31/17 Change 12/31/17  
             
  Shareholders' Equity   $582,083     $584,888   -0.5 %   $590,239    
  Total Assets   5,551,036     5,395,947   2.9 %   5,513,046    
             
  Shareholders' Equity/          
  Total Assets   10.49 %   10.84 %     10.71 %  
  Shareholders' Equity/          
  Total Loans   47.38 %   43.29 %     45.83 %  
  Tangible Common Equity Ratio   8.42 %   8.68 %     8.63 %  
  Common Shares Outstanding   26,591     26,283   1.2 %   26,425    
  Common Equity Per Share   $21.89     $22.25   -1.6 %   $22.34    
  Market Value Per Common Share   $58.08     $55.83   4.0 %   $59.55    
             
  Share Repurchase Programs          
    (shares in thousands)  
        %    
    Q1'18 Q1'17 Change Q4'17  
             
  Total Shares Repurchased     -       -   n/m       -    
  Average Repurchase Price   $-     $-   n/m     $-    
  Net Shares Issued   (166 )   (376 ) n/m     (106 )  
             
11. Period-End Balance Sheets.          
    (unaudited, dollars in thousands)  
        %    
    3/31/18 3/31/17 Change 12/31/17  
  Assets:          
  Cash and Due from Banks   $555,607     $546,815   1.6 %   $575,002    
             
  Investment Securities:          
  Equity Securities   1,764     11,671   -84.9 %   1,800    
  Debt Securities Available For Sale   2,351,970     1,881,638   25.0 %   2,191,707    
  Debt Securities Held to Maturity   1,114,287     1,298,414   -14.2 %   1,158,864    
             
  Loans   1,228,584     1,351,090   -9.1 %   1,287,982    
  Allowance For Loan Losses   (23,081 )   (24,919 ) -7.4 %   (23,009 )  
  Total Loans, net   1,205,503     1,326,171   -9.1 %   1,264,973    
             
  Other Real Estate Owned   1,376     2,136   -35.6 %   1,426    
  Premises and Equipment, net   35,790     36,025   -0.7 %   35,301    
  Identifiable Intangibles, net   3,280     6,127   -46.5 %   3,850    
  Goodwill   121,673     121,673   0.0 %   121,673    
  Other Assets   159,786     165,277   -3.3 %   158,450    
             
  Total Assets   $5,551,036     $5,395,947   2.9 %   $5,513,046    
             
  Liabilities and Shareholders' Equity:          
  Deposits:          
  Noninterest Bearing   $2,179,157     $2,046,390   6.5 %   $2,197,526    
  Interest-Bearing Transaction   924,081     905,588   2.0 %   904,245    
  Savings   1,540,192     1,494,854   3.0 %   1,494,024    
  Time   224,437     251,141   -10.6 %   231,818    
  Total Deposits   4,867,867     4,697,973   3.6 %   4,827,613    
             
  Short-Term Borrowed Funds   65,356     73,611   -11.2 %   58,471    
  Other Liabilities   35,730     39,475   -9.5 %   36,723    
  Total Liabilities   4,968,953     4,811,059   3.3 %   4,922,807    
             
  Shareholders' Equity:          
  Common Equity:          
  Paid-In Capital   441,350     424,203   4.0 %   433,267    
  Accumulated Other          
  Comprehensive Loss   (43,452 )   (9,443 ) n/m     (16,832 )  
  Retained Earnings   184,185     170,128   8.3 %   173,804    
  Total Shareholders' Equity   582,083     584,888   -0.5 %   590,239    
             
  Total Liabilities and          
  Shareholders' Equity   $5,551,036     $5,395,947   2.9 %   $5,513,046    
             
12. Income Statements.          
    (unaudited, in thousands except per-share amounts)  
        %    
    Q1'18 Q1'17 Change Q4'17  
  Interest & Fee Income:          
  Loans   $14,697     $15,780   -6.9 %   $15,410    
  Investment Securities:          
  Equity Securities   85     74   14.8 %   80    
  Debt Securities Available for Sale   13,551     10,175   33.2 %   12,279    
  Debt Securities Held to Maturity   6,174     7,295   -15.4 %   6,435    
  Total Interest & Fee Income   34,507     33,324   3.6 %   34,204    
             
  Interest Expense:          
  Transaction Deposits   60     57   5.4 %   60    
  Savings Deposits   222     223   -0.6 %   225    
  Time Deposits   168     189   -11.1 %   176    
  Short-Term Borrowed Funds   9     11   -10.5 %   10    
  Total Interest Expense   459     480   -4.3 %   471    
             
  Net Interest Income   34,048     32,844   3.7 %   33,733    
             
  Reversal of Provision for Loan Losses     -       -   n/m       -    
             
  Noninterest Income:          
  Service Charges   4,752     4,923   -3.5 %   4,756    
  Merchant Processing Services   2,420     1,875   29.1 %   2,346    
  Debit Card Fees   1,605     1,481   8.4 %   1,569    
  Other Service Fees   631     650   -2.9 %   620    
  ATM Processing Fees   664     575   15.4 %   696    
  Trust Fees   743     702   5.8 %   739    
  Financial Services Commissions   114     195   -41.5 %   155    
  Equity Securities (Losses) Gains   (36 )     -   n/m       7,955    
  Other   1,062     1,256   -15.5 %   1,464    
  Total Noninterest Income   11,955     11,657   2.6 %   20,300    
             
  Noninterest Expense:          
  Salaries and  Benefits   13,351     13,070   2.1 %   12,652    
  Loss Contingency (2)     -       -   n/m       5,542    
  Occupancy and Equipment   4,691     4,887   -4.0 %   4,860    
  Outsourced Data Processing   2,340     2,139   9.4 %   2,325    
  Amortization of Identifiable Intangibles   570     800   -28.7 %   755    
  Professional Fees   785     611   28.3 %   627    
  Impairment of Tax Credit Investments     -       -   n/m       625    
  Courier Service   463     421   10.1 %   423    
  Other   2,014     2,687   -25.0 %   2,358    
  Total Noninterest Expense   24,214     24,615   -1.6 %   30,167    
             
  Income Before Income Taxes   21,789     19,886   9.6 %   23,866    
  Income Tax Provision   4,283     4,837   -11.5 %   19,706    
  Net Income   $17,506     $15,049   16.3 %   $4,160    
             
  Average Common Shares Outstanding   26,532     26,171   1.4 %   26,384    
  Diluted Common Shares Outstanding   26,665     26,329   1.3 %   26,538    
             
  Per Common Share Data:          
  Basic Earnings   $0.66     $0.58   13.8 %   $0.16    
  Diluted Earnings   0.66     0.57   15.8 %   0.16    
  Dividends Paid   0.40     0.39   2.6 %   0.40    
             
  Footnotes and Abbreviations:          
  Certain amounts in prior periods have been reclassified to conform to the current presentation.      
  (FTE) Fully Taxable Equivalent. The Company presents its net interest margin and net interest income on a FTE basis using the current statutory federal tax rate.  Management believes the FTE basis is valuable to the reader because the Company’s loan and investment securities portfolios contain a relatively large portion of municipal loans and securities that are federally tax exempt.  The Company’s tax exempt loans and securities composition may not be similar to that of other banks, therefore in order to reflect the impact of the federally tax exempt loans and securities on the net interest margin and net interest income for comparability with other banks, the Company presents its net interest margin and net interest income on a FTE basis.    
  (a) Annualized          
  (1) All originated and purchased non performing loans and repossessed loan collateral have been combined as of Q1 '17.  Prior period presentation has been updated, accordingly.    
  (2) Represents the Company's estimated refunds to customers of revenue recognized in prior years.    
             

 

Primary Logo

Powered by EIN News


EIN Presswire does not exercise editorial control over third-party content provided, uploaded, published, or distributed by users of EIN Presswire. We are a distributor, not a publisher, of 3rd party content. Such content may contain the views, opinions, statements, offers, and other material of the respective users, suppliers, participants, or authors.

Submit your press release