Westamerica Bancorporation Increases Stock Repurchase Plan Authorization

Westamerica Bancorporation (NASDAQ: WABC) said its Board increased the stock repurchase plan authorization by 2,000,000 shares.

Rhea-AI Summary

Westamerica Bancorporation (NASDAQ: WABC) said its Board increased the stock repurchase plan authorization by 2,000,000 shares. After prior purchases and the prior 785,023 available, 2,785,023 shares remain under the plan, equal to 11.8% of common stock outstanding as of March 31, 2026. Purchases may occur on the open market or in privately negotiated transactions through December 31, 2026.

The company noted the increase reflects its financial position and that repurchases are at management discretion.

Positive

• Authorization increased by 2,000,000 shares
• 2,785,023 shares remain available under the expanded plan
• Available shares represent 11.8% of common stock outstanding as of March 31, 2026
• Repurchases may occur through December 31, 2026

Negative

• Repurchases are discretionary and subject to market conditions, not guaranteed

Argus Apr 24 session

+0.68% close to close Open Argus

Details

News Market Reaction – WABC

On Apr 24, the day this news came out, WABC closed 0.68% above the previous close.

Data tracked by StockTitan Argus for the Apr 24 session.

Key Figures

Increase in authorization: 2,000,000 shares Prior authorization remaining: 785,023 shares Total remaining under plan: 2,785,023 shares +3 more

Increase in authorization

2,000,000 shares

Additional shares added to stock repurchase plan

Prior authorization remaining

785,023 shares

Available under prior repurchase authorization before increase

Total remaining under plan

2,785,023 shares

Shares available under expanded repurchase plan

Portion of common stock

11.8%

Remaining authorization as share of common stock outstanding

Common stock date reference

March 31, 2026

Date for common stock outstanding used in 11.8% figure

Plan expiry date

December 31, 2026

Deadline to repurchase shares under current plan

Previous Buybacks Reports

2 past events · Latest: Dec 18

Same Type 2 events

1. Dec 18

   Buyback authorization

   24h Move

   +2.3%

   Approved repurchase of up to 2,000,000 shares through December 31, 2026.

2. Feb 27

   Buyback authorization

   24h Move

   +3.0%

   Board authorized up to 2,000,000 share repurchase, 7.5% of shares outstanding.

24h Move is the share-price change in the day after each event; other market factors may also have contributed.

Key Terms

stock repurchase plan, open market, privately negotiated transactions, forward-looking statements, +2 more

6 terms

stock repurchase plan financial

"approved an increase in the Company’s stock repurchase plan authorization"

A stock repurchase plan is a company’s program to buy back its own shares from the market, reducing the number of shares available to investors. Like a store buying back its own gift cards to raise the value of remaining cards, buybacks can increase each remaining share’s claim on profits and often signal management believes the stock is undervalued or is an efficient way to return cash, which can affect share price and investor returns.

open market financial

"may repurchase ... common stock on the open market or in privately negotiated"

An open market is a system where buying and selling of goods, services, or financial assets happen freely without restrictions or special controls. For investors, it means they can trade assets easily and quickly, which helps determine fair prices based on supply and demand. This environment encourages transparency and competition, making it easier to buy or sell with confidence.

privately negotiated transactions financial

"on the open market or in privately negotiated transactions prior to December 31"

Privately negotiated transactions are deals made directly between parties without involving a public marketplace or open auction. They are like private sales between two individuals rather than items sold at a busy marketplace open to everyone. For investors, these transactions can offer more tailored terms and privacy, but they may also carry different risks and less transparency compared to public exchanges.

forward-looking statements regulatory

"This press release may contain forward-looking statements about the Company"

Forward-looking statements are predictions or plans that companies share about what they expect to happen in the future, like estimating sales or profits. They matter because they help investors understand a company's outlook, but since they are based on guesses and assumptions, they can sometimes be wrong.

Dodd-Frank Wall Street Reform and Consumer Protection Act of 2010 regulatory

"including the Dodd-Frank Wall Street Reform and Consumer Protection Act of 2010"

A major U.S. law that rewrote financial rules to make banks and markets safer and give consumers more protection. Think of it as a new set of safety regulations and a consumer watchdog for the financial system: it increases oversight of big lenders, limits certain risky trading behaviors, and requires stronger reserves and testing so a single failure is less likely to threaten the whole market. Investors care because it changes how financial firms operate, their costs, and the risks they carry.

Gramm-Leach-Bliley Act of 1999 regulatory

"the Sarbanes-Oxley Act of 2002 and the Gramm-Leach-Bliley Act of 1999"

A U.S. federal law that loosened long-standing barriers between banks, insurance companies and securities firms while imposing rules to protect consumers’ private financial information. Think of it as removing fences that kept different types of financial businesses apart but also requiring them to lock and disclose how they handle customer data. Investors care because it reshaped which services financial firms can offer, altered competitive dynamics and revenue opportunities, and introduced compliance costs and privacy liabilities that can affect profits and risk.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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SAN RAFAEL, Calif., April 24, 2026 (GLOBE NEWSWIRE) -- Westamerica Bancorporation (NASDAQ: WABC) today announced that its Board of Directors approved an increase in the Company’s stock repurchase plan authorization by 2,000,000 shares. After accounting for shares previously purchased, and the 785,023 available under the prior authorization, the Company currently has 2,785,023 shares remaining under the expanded plan, which represents 11.8 percent of the Company’s common stock outstanding as of March 31, 2026.

Under the plan the Company may repurchase, as conditions warrant, shares of the Company’s common stock on the open market or in privately negotiated transactions prior to December 31, 2026.

“The increase in our stock repurchase plan authorization recognizes Westamerica’s financial strength, conservative risk profile and reliable earnings,” stated Chairman, President and CEO David Payne. “Westamerica continues to proactively manage shareholder’s capital.”

Westamerica Bancorporation, through its wholly owned subsidiary, Westamerica Bank, operates 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 – Investment Relations Contact, 707-863-6090
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, 2025 filed on Form 10-K and quarterly report for the quarter ended September 30, 2025 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, cyber security risks, legislation including the Dodd-Frank Wall Street Reform and Consumer Protection Act of 2010, 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.}

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

What did Westamerica Bancorporation (WABC) announce about its stock repurchase plan on April 24, 2026?

The company increased its repurchase authorization by 2,000,000 shares, leaving 2,785,023 shares available. According to the company, this equals 11.8% of common stock outstanding as of March 31, 2026 and is valid through December 31, 2026.

How many shares of WABC can Westamerica repurchase under the expanded plan and what percentage of outstanding stock does that represent?

Westamerica can repurchase 2,785,023 shares under the expanded plan, representing 11.8% of common stock outstanding. According to the company, that figure is calculated as of March 31, 2026 and reflects prior purchases and prior authorization.

By what date must Westamerica complete repurchases under the WABC authorization increase?

Repurchases may occur on the open market or in private transactions prior to December 31, 2026. According to the company, purchases will be made as conditions warrant and are at management's discretion.

Does the WABC repurchase plan obligate Westamerica to buy shares once authorized?

No, the authorization does not obligate purchases; repurchases are discretionary. According to the company, repurchases will occur only "as conditions warrant," so timing and amounts are not guaranteed.

What reasons did Westamerica give for increasing the WABC buyback authorization?

The company cited its financial strength, conservative risk profile and reliable earnings as reasons for the increase. According to the company, the action reflects proactive capital management by its leadership team.