WABC Research | Milton Maxwell

WABC

Westamerica Bancorporation

49.25

-0.03-0.06%

Dec 16, 4:00:00 PM EST

Upcoming Earnings

Report date

≈ -/-

Earnings Call Transcripts

This Quarter (Q1 '26)

No earnings call transcript available yet

Last Quarter (Q4 '25)

No earnings call transcript available

Key Stats

Market Cap

1.25B

P/E (TTM)

10.73

Basic EPS (TTM)

4.59

Dividend Yield

0.04%

Recent Filings

10-K

FY2025 results

2/27/26Feb 27, 2026

Westamerica Bancorporation posted FY2025 net income of $116M, down 16% y/y from $139M, as net interest income (FTE) fell 14% to $218M from lower securities yields and volumes amid deposit runoff to $4.8B. Q4 accelerated buybacks retired 485K shares at $48/share under refreshed programs, while a $0.55M credit loss reversal reflected pristine asset quality with nonaccruals at 0.2% of loans. NIM compressed to 3.82% yet funding costs eased to 0.50% with noninterest deposits at 46%. Shares outstanding dropped to 24.6M, book value rose to $37.91. Rising rates threaten securities values.

8-K

New director appointed

1/23/26Jan 23, 2026

Westamerica Bancorporation appointed Carter Welch as an independent director on January 22, 2026, effective February 26. Welch brings over 25 years in marketing and business strategy. Board gains fresh expertise.

8-K

Declares $0.46 dividend

1/22/26Jan 22, 2026

Westamerica Bancorporation declared a quarterly cash dividend of $0.46 per share, payable February 13, 2026 to shareholders of record February 2. This affirms reliable earnings, including $27.8 million net income ($1.12 diluted EPS) for Q4 2025. Dividend steady. CEO Payne cites financial strength, conservative risks.

8-K

Q4 net income $27.8M

1/15/26Jan 15, 2026

Westamerica Bancorporation posted Q4 2025 net income of $27.8 million, EPS $1.12, flat from Q3's $28.3 million despite a $628 thousand tax adjustment. Low funding costs held at 0.24%, noninterest expenses controlled at 40% of revenues, while nonperforming assets stayed low at $1.8 million. Capital exceeds regulatory levels. Share buybacks continue.

8-K

Approves 2M share repurchase

12/18/25Dec 18, 2025

Westamerica Bancorporation's board approved a repurchase plan for up to 2,000,000 common shares—8.0% of shares outstanding as of September 30, 2025—through open market or private deals by December 31, 2026. CEO David Payne cited the bank's financial strength and reliable earnings. Repurchases hinge on market conditions.

About

Westamerica Bancorporation operates as a bank holding company for the Westamerica Bank that provides various banking products and services to individual and commercial customers in the United States. The company accepts various deposit products, including retail savings and checking accounts, as well as certificates of deposit. Its loan portfolio includes commercial, commercial and residential real estate, real estate construction, consumer installment loans, as well as indirect automobile loans. The company serves small businesses, professionals, and consumers. The company was formerly known as Independent Bankshares Corporation and changed its name to Westamerica Bancorporation in 1983. Westamerica Bancorporation was founded in 1884 and is headquartered in San Rafael, California.

CEO

Mr. David L. Payne

IPO

3/17/1980

Website

https://www.westamerica.com

Employees

616

Sector

Financial Services

Industry

Banks - Regional