Westamerica Bancorporation Reports Second Quarter 2026 Financial Results

Rhea-AI Summary

Westamerica Bancorporation (Nasdaq: WABC) reported second quarter 2026 net income of $27.4 million and diluted EPS of $1.17, flat in dollars but up from $1.13 in first quarter 2026. Net interest income (FTE) was $52.7 million, essentially unchanged sequentially, with a 4.01% yield on earning assets and 0.24% cost of funds, producing a 3.77% net interest margin.

Noninterest income rose to $10.3 million from $9.6 million quarter over quarter, while noninterest expense was stable at $26.0 million. Return on assets was 1.84% and return on common equity 11.3%. The company reported nonperforming assets of $808 thousand and no provision for credit losses. Westamerica paid a $0.48 dividend per common share and repurchased 753 thousand common shares in the quarter. Year over year, Q2 net income declined 5.8% and net interest income (FTE) fell 3.5%, with average loans down 10.4% and total deposits down 1.0%.

Positive

• Q2 2026 EPS $1.17, up from $1.13 in Q1 2026
• Return on common equity 11.3% in Q2 2026
• Net interest margin 3.77% vs 3.74% in Q1 2026
• Cost of funds 0.24% in Q2 2026, unchanged year to date
• Noninterest income $10.3 million, up from $9.6 million in Q1 2026
• Repurchased 753 thousand shares under share repurchase plan in Q2 2026
• Nonperforming assets $808 thousand at June 30, 2026

Negative

• Q2 2026 net income $27.4 million, down 5.8% vs Q2 2025
• Net interest income (FTE) down 3.5% year over year in Q2 2026
• YTD 2026 net income $54.7 million, down 8.9% vs YTD 2025
• Average loans down 10.4% year over year in Q2 2026
• Net interest margin 3.77%, below 3.85% in Q2 2025
• Efficiency ratio 41.3%, higher than 39.3% in Q2 2025
• Average shareholders’ equity down 6.3% vs Q2 2025

News Explained

Reported EPS improved despite lower earnings because the year-over-year average common-share base was smaller.

The July 16, 2026 release is a completed second-quarter report; its year-over-year table shows average common shares fell 10.0% while diluted EPS rose 4.5% even as net income fell 5.8%.

That combination means the reported per-share increase occurred alongside a smaller common-share base, rather than alongside higher net income.

The report also shows average loans fell 10.4%, total investment securities rose 7.9%, and interest-bearing cash fell 50.3% in the year-over-year comparison.

This is a disclosed shift in average earning-asset composition toward securities and away from loans and cash.

Credit-loss provisioning was reported as no provision for the quarter, while the allowance for credit losses on loans was $10.8 million at quarter-end versus $11.2 million at the prior quarter-end.

News Market Reaction – WABC

+5.83%

7 alerts

+5.83% Session close to close

$1.39B Market Cap

1.4x Rel. Volume

In the Jul 16 session, WABC gained 5.83%, reflecting a notable positive market reaction. Our momentum scanner triggered 7 alerts that day, indicating moderate trading interest and price volatility.

Data tracked by StockTitan Argus on the day of publication.

Market Context

The stock moved +5.8% in the session following this news. If a strong rally followed this 2Q26 earni...

Analysis

The stock moved +5.8% in the session following this news. If a strong rally followed this 2Q26 earnings report, it would contrast with the modest average -0.19% one-day move seen after prior earnings. That would highlight enthusiasm despite recent net insider selling and could be vulnerable if buyback pace or credit metrics change.

Key Figures

Q2 2026 net income: $27.4 million Q2 2026 diluted EPS: $1.17 Q1 2026 diluted EPS: $1.13 +5 more

8 metrics

Q2 2026 net income $27.4 million Second quarter 2026

Q2 2026 diluted EPS $1.17 Second quarter 2026

Q1 2026 diluted EPS $1.13 First quarter 2026 comparison

Return on common equity 11.3% Annualized Q2 2026

Net interest income (FTE) $52.7 million Q2 2026, flat vs Q1 2026

Yield on earning assets 4.01% Annualized Q2 2026

Cost of funds 0.24% Annualized Q2 2026 funding cost

Dividend per share $0.48 Paid during Q2 2026

Previous Earnings Reports

5 past events · Latest: Apr 16 (Neutral)

Same Type Pattern 5 events

Date	Event	Sentiment	24h Move	Catalyst
Apr 16	Q1 2026 earnings	Neutral	+0.8%	Reported Q1 2026 net income, EPS and stable low funding cost.
Oct 16	Q3 2025 earnings	Neutral	-1.4%	Q3 2025 earnings with no credit loss provision and solid efficiency.
Jul 17	Q2 2025 earnings	Neutral	-0.0%	Q2 2025 results showing high efficiency and strong asset quality.
Apr 17	Q1 2025 earnings	Neutral	+0.8%	Q1 2025 earnings with credit loss reversal and solid return on equity.
Jan 16	Q4 2024 earnings	Neutral	-1.1%	Q4 2024 earnings featuring low-cost deposits and stable asset quality.

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

Pattern Detected

Recent earnings releases have produced relatively small mixed price moves, with an average one-day reaction of -0.19%.

Key Terms

allowance for credit losses, nonperforming assets, net interest margin, efficiency ratio, +1 more

5 terms

allowance for credit losses financial

"The Allowance for Credit Losses on Loans was $10.8 million at June 30, 2026"

Allowance for credit losses is a reserve set aside by a financial institution to cover potential losses from borrowers who may not repay their loans. It acts like a safety net, helping the institution prepare for loans that might turn sour. For investors, it signals how cautious the institution is about the quality of its loans and potential risks to its financial health.

nonperforming assets financial

"credit quality remained stable with nonperforming assets of $808 thousand at June 30, 2026"

Nonperforming assets are loans or investments that are not generating expected payments or returns because the borrower has fallen behind on payments or the investment has lost value. They matter to investors because a high level of nonperforming assets can indicate financial trouble for a bank or institution, potentially affecting its stability and profitability.

net interest margin financial

"Net Interest Margin (FTE) (a) 3.77% 3.85% 3.74%"

Net interest margin measures how much a bank earns from lending and investing compared with what it pays for funding, expressed as a percentage of its interest-earning assets. Think of it like a grocery store’s markup: it shows the gap between buying cost and selling price per dollar of goods — here, the cost is interest paid and the sale is interest received. Investors watch it because a higher margin usually means a bank is more profitable and better at managing interest rate and credit conditions.

efficiency ratio financial

"Efficiency Ratio (FTE) 41.3% 39.3% 41.6%"

A measure of how much a company spends to produce each dollar of revenue, usually shown as operating expenses divided by revenue and expressed as a percentage. Think of it as a household’s budget: a lower percentage means more of each dollar earned stays as profit, while a higher number means costs are eating into returns. Investors use it to judge cost control and compare how efficiently companies turn revenue into earnings, especially in banks and financial firms.

return on assets financial

"Return On Assets (a) 1.84% 1.93% 1.84%"

Return on assets (ROA) is a percentage that shows how much profit a company earns for each dollar of its assets, calculated by dividing its profit by its total assets. Investors use ROA to judge how efficiently a business turns its resources into earnings — like measuring how many miles a car gets per gallon — and to compare efficiency across companies, keeping in mind that capital‑intensive industries naturally show different typical ROA levels.

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

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SAN RAFAEL, Calif., July 16, 2026 (GLOBE NEWSWIRE) -- Westamerica Bancorporation (Nasdaq: WABC), parent company of Westamerica Bank, generated net income for the second quarter 2026 of $27.4 million and diluted earnings per common share ("EPS") of $1.17. Second quarter 2026 results compare to first quarter 2026 net income of $27.4 million and EPS of $1.13.

"Westamerica’s second quarter 2026 results benefited from the Company’s low-cost operating principles. The annualized cost of funding interest-earning loans, bonds and cash was 0.24 percent for the second quarter 2026. Operating expenses were well controlled and credit quality remained stable with nonperforming assets of $808 thousand at June 30, 2026”, said Chairman, President and CEO David Payne. “Second quarter 2026 results generated an annualized 11.3 percent return on average common equity. Westamerica paid a $0.48 per common share dividend during the second quarter 2026, and retired 753 thousand common shares using its share repurchase plan,” concluded Payne.

Net interest income on a fully-taxable equivalent (FTE) basis was $52.7 million for the second quarter 2026, compared to $52.7 million for the first quarter 2026. The annualized yield earned on loans, bonds and cash for the second quarter 2026 was 4.01 percent, compared to 3.98 percent for the first quarter 2026. The annualized cost of funding interest-earning loans, bonds and cash was 0.24 percent for the second quarter 2026, unchanged from the first quarter 2026.

The Company provided no provision for credit losses in the second quarter 2026 compared to a $300 thousand reversal of provision for credit losses in the first quarter of 2026. The Allowance for Credit Losses on Loans was $10.8 million at June 30, 2026 compared to $11.2 million at March 31, 2026.

Noninterest income for the second quarter 2026 totaled $10.3 million compared to $9.6 million for the first quarter 2026. The increase in noninterest income is primarily due to higher merchant processing fees, debit card fees and unrealized gains recognized on equity securities.

Noninterest expense for the second quarter 2026 totaled $26.0 million compared to $25.9 million for the first quarter 2026. The increase in noninterest expense is primarily due to higher salaries and benefits expense due to one more business day in the second quarter 2026 compared to the first quarter 2026 and higher professional fees partially offset by lower occupancy and equipment expense.

The income tax provision (FTE) for the second quarter 2026 was $9.5 million compared to $9.3 million for the first quarter 2026.

Westamerica Bancorporation’s 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 – Investor 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 March 31, 2026 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.

		Public Information July 16, 2026
WESTAMERICA BANCORPORATION
FINANCIAL HIGHLIGHTS
June 30, 2026
1. Net Income Summary.
		(in thousands except per-share amounts)
								%
		Q2'2026			Q2'2025			Change		Q1'2026
	Net Interest and Loan Fee
	Income (FTE)	$	52,674		$	54,562		-3.5	%	$	52,690
	(Reversal of) Provision
	for Credit Losses		-			-		n/m			(300	)
	Noninterest Income		10,294			10,315		-0.2	%		9,607
	Noninterest Expense		26,037			25,529		2.0	%		25,911
	Income Before Taxes (FTE)		36,931			39,348		-6.1	%		36,686
	Income Tax Provision (FTE)		9,546			10,282		-7.2	%		9,331
	Net Income	$	27,385		$	29,066		-5.8	%	$	27,355
	Average Common Shares
	Outstanding		23,306			25,889		-10.0	%		24,306
	Diluted Average Common
	Shares Outstanding		23,319			25,889		-9.9	%		24,306
	Operating Ratios:
	Basic Earnings Per Common
	Share	$	1.17		$	1.12		4.9	%	$	1.13
	Diluted Earnings Per
	Common Share		1.17			1.12		4.5	%		1.13
	Return On Assets (a)		1.84	%		1.93	%				1.84	%
	Return On Common
	Equity (a)		11.3	%		11.2	%				11.0	%
	Net Interest Margin (FTE) (a)		3.77	%		3.85	%				3.74	%
	Efficiency Ratio (FTE)		41.3	%		39.3	%				41.6	%
	Dividends Paid Per Common
	Share	$	0.48		$	0.46		4.3	%	$	0.46
	Common Dividend Payout
	Ratio		41	%		41	%				41	%
								%
		6/30'26YTD			6/30'25YTD			Change
	Net Interest and Loan Fee
	Income (FTE)	$	105,364		$	110,952		-5.0	%
	Reversal of Provision
	for Credit Losses		(300	)		(550	)	n/m
	Noninterest Income		19,901			20,636		-3.6	%
	Noninterest Expense		51,948			50,656		2.6	%
	Income Before Taxes (FTE)		73,617			81,482		-9.7	%
	Income Tax Provision (FTE)		18,877			21,379		-11.7	%
	Net Income	$	54,740		$	60,103		-8.9	%
	Average Common Shares
	Outstanding		23,804			26,263		-9.4	%
	Diluted Average Common
	Shares Outstanding		23,810			26,263		-9.3	%
	Operating Ratios:
	Basic Earnings Per Common
	Share	$	2.30		$	2.29		0.4	%
	Diluted Earnings Per
	Common Share		2.30			2.29		0.4	%
	Return On Assets (a)		1.84	%		1.98	%
	Return On Common
	Equity (a)		11.1	%		11.6	%
	Net Interest Margin (FTE) (a)		3.75	%		3.87	%
	Efficiency Ratio (FTE)		41.5	%		38.5	%
	Dividends Paid Per Common
	Share	$	0.94		$	0.90		4.4	%
	Common Dividend Payout
	Ratio		41	%		39	%
2. Net Interest Income.
		(dollars in thousands)
								%
		Q2'2026			Q2'2025			Change		Q1'2026
	Interest and Loan Fee
	Income (FTE)	$	55,995		$	57,751		-3.0	%	$	55,985
	Interest Expense		3,321			3,189		4.1	%		3,295
	Net Interest and Loan Fee
	Income (FTE)	$	52,674		$	54,562		-3.5	%	$	52,690
	Average Earning Assets	$	5,577,857		$	5,652,443		-1.3	%	$	5,644,066
	Average Interest-Bearing
	Liabilities		2,766,057			2,693,505		2.7	%		2,754,298
	Yield on Earning Assets
	(FTE) (a)		4.01	%		4.07	%				3.98	%
	Cost of Funds (a)		0.24	%		0.22	%				0.24	%
	Net Interest Margin (FTE) (a)		3.77	%		3.85	%				3.74	%
	Interest Expense /
	Interest-Bearing
	Liabilities (a)		0.48	%		0.48	%				0.49	%
	Net Interest Spread (FTE) (a)		3.53	%		3.59	%				3.49	%
								%
		6/30'26YTD			6/30'25YTD			Change
	Interest and Loan Fee
	Income (FTE)	$	111,980		$	117,537		-4.7	%
	Interest Expense		6,616			6,585		0.5	%
	Net Interest and Loan Fee
	Income (FTE)	$	105,364		$	110,952		-5.0	%
	Average Earning Assets	$	5,610,780		$	5,723,246		-2.0	%
	Average Interest-Bearing
	Liabilities		2,760,211			2,731,590		1.0	%
	Yield on Earning Assets
	(FTE) (a)		3.99	%		4.11	%
	Cost of Funds (a)		0.24	%		0.24	%
	Net Interest Margin (FTE) (a)		3.75	%		3.87	%
	Interest Expense /
	Interest-Bearing
	Liabilities (a)		0.48	%		0.49	%
	Net Interest Spread (FTE) (a)		3.51	%		3.62	%
3. Loans & Other Earning Assets.
		(average volume, dollars in thousands)
								%
		Q2'2026			Q2'2025			Change		Q1'2026
	Total Assets	$	5,967,886		$	6,042,100		-1.2	%	$	6,034,899
	Total Earning Assets		5,577,857			5,652,443		-1.3	%		5,644,066
	Total Loans		682,900			762,216		-10.4	%		708,613
	Commercial Loans		107,763			115,943		-7.1	%		110,159
	Commercial Real Estate
	Loans		465,156			488,960		-4.9	%		477,402
	Consumer Loans		109,981			157,313		-30.1	%		121,052
	Total Investment Securities		4,569,681			4,236,303		7.9	%		4,469,072
	Debt Securities Available for
	Sale		3,759,010			3,385,972		11.0	%		3,643,302
	Debt Securities Held to
	Maturity		796,225			836,104		-4.8	%		811,170
	Equity Securities		14,446			14,227		1.5	%		14,600
	Total Interest-Bearing Cash		325,276			653,924		-50.3	%		466,381
	Loans / Deposits		14.2	%		15.7	%				14.7	%
								%
		6/30'26YTD			6/30'25YTD			Change
	Total Assets	$	6,001,208		$	6,114,310		-1.8	%
	Total Earning Assets		5,610,780			5,723,246		-2.0	%
	Total Loans		695,686			775,999		-10.3	%
	Commercial Loans		108,955			118,054		-7.7	%
	Commercial Real Estate
	Loans		471,245			493,146		-4.4	%
	Consumer Loans		115,486			164,799		-29.9	%
	Total Investment Securities		4,519,655			4,315,494		4.7	%
	Debt Securities Available for
	Sale		3,701,476			3,462,326		6.9	%
	Debt Securities Held to
	Maturity		803,656			838,941		-4.2	%
	Equity Securities		14,523			14,227		2.1	%
	Total Interest-Bearing Cash		395,439			631,753		-37.4	%
	Loans / Deposits		14.5	%		15.8	%
4. Deposits, Other Interest-Bearing Liabilities & Equity.
		(average volume, dollars in thousands)
								%
		Q2'2026			Q2'2025			Change		Q1'2026
	Total Deposits	$	4,795,518		$	4,841,803		-1.0	%	$	4,822,635
	Noninterest Demand		2,168,936			2,245,077		-3.4	%		2,206,530
	Interest-Bearing Transaction		931,438			908,367		2.5	%		920,543
	Savings		1,630,311			1,611,845		1.1	%		1,628,180
	Time greater than $100K		22,335			27,306		-18.2	%		23,738
	Time less than $100K		42,498			49,208		-13.6	%		43,644
	Total Short-Term Borrowings		139,475			96,779		44.1	%		138,193
	Securities Sold under
	Repurchase Agreements		139,475			96,779		44.1	%		138,193
	Shareholders' Equity		971,898			1,037,185		-6.3	%		1,008,613
	Demand Deposits /
	Total Deposits		45.2	%		46.4	%				45.8	%
	Transaction & Savings
	Deposits / Total Deposits		98.6	%		98.4	%				98.6	%
								%
		6/30'26YTD			6/30'25YTD			Change
	Total Deposits	$	4,809,002		$	4,899,856		-1.9	%
	Noninterest Demand		2,187,629			2,268,936		-3.6	%
	Interest-Bearing Transaction		926,021			921,637		0.5	%
	Savings		1,629,251			1,630,633		-0.1	%
	Time greater than $100K		23,033			28,377		-18.8	%
	Time less than $100K		43,068			50,273		-14.3	%
	Total Short-Term Borrowings		138,838			100,670		37.9	%
	Securities Sold under
	Repurchase Agreements		138,838			100,670		37.9	%
	Shareholders' Equity		990,154			1,046,504		-5.4	%
	Demand Deposits /
	Total Deposits		45.5	%		46.3	%
	Transaction & Savings
	Deposits / Total Deposits		98.6	%		98.4	%
5. Interest Yields Earned & Rates Paid.
		(dollars in thousands)
		Q2'2026
		Average			Income/			Yield (a) /
		Volume			Expense			Rate (a)
	Interest & Loan Fee Income Earned:
	Total Earning Assets (FTE)	$	5,577,857		$	55,995		4.01	%
	Total Loans (FTE)		682,900			9,719		5.71	%
	Commercial Loans (FTE)		107,763			1,642		6.11	%
	Commercial Real Estate
	Loans		465,156			6,338		5.46	%
	Consumer Loans		109,981			1,739		6.34	%
	Total Investment Securities (FTE)		4,569,681			43,275		3.78	%
	Total Debt Securities
	Available for Sale (FTE)		3,759,010			34,629		3.68	%
	Corporate Securities		1,923,302			13,161		2.74	%
	Collateralized Loan
	Obligations		247,344			3,506		5.61	%
	Agency Mortgage Backed
	Securities		1,237,212			14,898		4.82	%
	Securities of U.S.
	Government Sponsored
	Entities		307,779			2,709		3.52	%
	Obligations of States and
	Political Subdivisions
	(FTE)		43,373			355		3.27	%
	Total Debt Securities Held to
	Maturity (FTE)		796,225			8,184		4.11	%
	Agency Mortgage Backed
	Securities		43,018			274		2.54	%
	Corporate Securities		732,792			7,716		4.21	%
	Obligations of States and
	Political Subdivisions
	(FTE)		20,415			194		3.80	%
	Equity Securities (FTE)		14,446			462		12.79	%
	Total Interest-Bearing Cash		325,276			3,001		3.65	%
	Interest Expense Paid:
	Total Earning Assets		5,577,857			3,321		0.24	%
	Total Interest-Bearing
	Liabilities		2,766,057			3,321		0.48	%
	Total Interest-Bearing
	Deposits		2,626,582			3,110		0.48	%
	Interest-Bearing Transaction		931,438			45		0.02	%
	Savings		1,630,311			3,024		0.74	%
	Time less than $100K		42,498			31		0.29	%
	Time greater than $100K		22,335			10		0.18	%
	Total Short-Term Borrowings		139,475			211		0.60	%
	Securities Sold under
	Repurchase Agreements		139,475			211		0.60	%
	Net Interest Income and
	Margin (FTE)				$	52,674		3.77	%
		Q2'2025
		Average			Income/			Yield (a) /
		Volume			Expense			Rate (a)
	Interest & Loan Fee Income Earned:
	Total Earning Assets (FTE)	$	5,652,443		$	57,751		4.07	%
	Total Loans (FTE)		762,216			10,591		5.57	%
	Commercial Loans (FTE)		115,943			1,833		6.34	%
	Commercial Real Estate
	Loans		488,960			6,452		5.29	%
	Consumer Loans		157,313			2,306		5.88	%
	Total Investment Securities (FTE)		4,236,303			39,887		3.75	%
	Total Debt Securities
	Available for Sale (FTE)		3,385,972			30,920		3.64	%
	Corporate Securities		1,945,959			12,898		2.65	%
	Collateralized Loan
	Obligations		792,914			12,405		6.19	%
	Agency Mortgage Backed
	Securities		273,083			2,334		3.42	%
	Securities of U.S.
	Government sponsored
	Entities		311,923			2,777		3.56	%
	Obligations of States and
	Political Subdivisions
	(FTE)		62,093			506		3.26	%
	Total Debt Securities Held to
	Maturity (FTE)		836,104			8,533		4.08	%
	Agency Mortgage Backed
	Securities		51,839			304		2.35	%
	Corporate Securities		737,787			7,816		4.24	%
	Obligations of States and
	Political Subdivisions
	(FTE)		46,478			413		3.56	%
	Equity Securities (FTE)		14,227			434		12.21	%
	Total Interest-Bearing Cash		653,924			7,273		4.40	%
	Interest Expense Paid:
	Total Earning Assets		5,652,443			3,189		0.22	%
	Total Interest-Bearing
	Liabilities		2,693,505			3,189		0.48	%
	Total Interest-Bearing
	Deposits		2,596,726			3,045		0.47	%
	Interest-Bearing Transaction		908,367			44		0.02	%
	Savings		1,611,845			2,950		0.73	%
	Time less than $100K		49,208			37		0.30	%
	Time greater than $100K		27,306			14		0.21	%
	Total Short-Term Borrowings		96,779			144		0.60	%
	Securities Sold under
	Repurchase Agreements		96,779			144		0.60	%
	Net Interest Income and
	Margin (FTE)				$	54,562		3.85	%
6. Noninterest Income.
		(dollars in thousands except per-share amounts)
								%
		Q2'2026			Q2'2025			Change		Q1'2026
	Service Charges on Deposit
	Accounts	$	3,380		$	3,368		0.4	%	$	3,332
	Merchant Processing
	Services		2,840			2,687		5.7	%		2,739
	Debit Card Fees		1,462			1,664		-12.1	%		1,324
	Trust Fees		965			867		11.3	%		927
	ATM Processing Fees		484			482		0.4	%		450
	Other Service Fees		445			450		-1.1	%		408
	Bank Owned
	Life Insurance Gains		-			106		n/m			-
	Unrealized Gains (Losses)
	on Equity Securities		36			-		n/m			(247	)
	Other Noninterest Income		682			691		-1.3	%		674
	Total Noninterest Income	$	10,294		$	10,315		-0.2	%	$	9,607
	Operating Ratios:
	Total Revenue (FTE)	$	62,968		$	64,877		-2.9	%	$	62,297
	Noninterest Income /
	Revenue (FTE)		16.3	%		15.9	%				15.4	%
	Service Charges /
	Avg. Deposits (a)		0.28	%		0.28	%				0.28	%
	Total Revenue (FTE) Per
	Avg. Common Share (a)	$	10.84		$	10.05		7.8	%	$	10.39
								%
		6/30'26YTD			6/30'25YTD			Change
	Service Charges on Deposit
	Accounts	$	6,712		$	6,749		-0.5	%
	Merchant Processing
	Services		5,579			5,420		2.9	%
	Debit Card Fees		2,786			3,245		-14.1	%
	Trust Fees		1,892			1,766		7.1	%
	ATM Processing Fees		934			945		-1.2	%
	Other Service Fees		853			879		-3.0	%
	Bank Owned
	Life Insurance Gains		-			208		n/m
	Unrealized Losses on
	Equity Securities		(211	)		-		n/m
	Other Noninterest Income		1,356			1,424		-4.8	%
	Total Noninterest Income	$	19,901		$	20,636		-3.6	%
	Operating Ratios:
	Total Revenue (FTE)	$	125,265		$	131,588		-4.8	%
	Noninterest Income /
	Revenue (FTE)		15.9	%		15.7	%
	Service Charges /
	Avg. Deposits (a)		0.28	%		0.28	%
	Total Revenue (FTE) Per
	Avg. Common Share (a)	$	10.61		$	10.10		5.0	%
7. Noninterest Expense.
		(dollars in thousands)
								%
		Q2'2026			Q2'2025			Change		Q1'2026
	Salaries and Related Benefits	$	12,541		$	12,303		1.9	%	$	12,325
	Occupancy and Equipment		5,209			5,154		1.1	%		5,427
	Outsourced Data Processing		2,781			2,709		2.7	%		2,788
	Limited Partnership
	Operating Losses		1,110			915		21.3	%		1,110
	Professional Fees		660			386		71.0	%		462
	Courier Service		765			687		11.4	%		734
	Other Noninterest Expense		2,971			3,375		-12.0	%		3,065
	Total Noninterest Expense	$	26,037		$	25,529		2.0	%	$	25,911
	Operating Ratios:
	Noninterest Expense /
	Avg. Earning Assets (a)		1.87	%		1.81	%				1.86	%
	Noninterest Expense /
	Revenues (FTE)		41.3	%		39.3	%				41.6	%
								%
		6/30'26YTD			6/30'25YTD			Change
	Salaries and Related Benefits	$	24,866		$	24,429		1.8	%
	Occupancy and Equipment		10,636			10,192		4.4	%
	Outsourced Data Processing		5,569			5,406		3.0	%
	Limited Partnership
	Operating Losses		2,220			1,830		21.3	%
	Professional Fees		1,122			781		43.7	%
	Courier Service		1,499			1,375		9.0	%
	Other Noninterest Expense		6,036			6,643		-9.1	%
	Total Noninterest Expense	$	51,948		$	50,656		2.6	%
	Operating Ratios:
	Noninterest Expense /
	Avg. Earning Assets (a)		1.87	%		1.78	%
	Noninterest Expense /
	Revenues (FTE)		41.5	%		38.5	%
8. Allowance for Credit Losses.
		(dollars in thousands)
								%
		Q2'2026			Q2'2025			Change		Q1'2026
	Average Total Loans	$	682,900		$	762,216		-10.4	%	$	708,613
	Beginning of Period
	Allowance for Credit
	Losses on Loans (ACLL)	$	11,151		$	13,914		-19.9	%	$	11,573
	(Reversal of) Provision
	for Credit Losses		-			-		n/m			(300	)
	Net ACLL Losses		(361	)		(127	)	184.3	%		(122	)
	End of Period ACLL	$	10,790		$	13,787		-21.7	%	$	11,151
	Gross ACLL Recoveries /
	Gross ACLL Losses		58	%		87	%				85	%
	Net ACLL Losses /
	Avg. Total Loans (a)		-0.21	%		-0.07	%				-0.07	%
								%
		6/30'26YTD			6/30'25YTD			Change
	Average Total Loans	$	695,686		$	775,999		-10.3	%
	Beginning of Period ACLL	$	11,573		$	14,780		-21.7	%
	Reversal of Provision for
	Credit Losses		(300	)		(550	)	n/m
	Net ACLL Losses		(483	)		(443	)	9.0	%
	End of Period ACLL	$	10,790		$	13,787		-21.7	%
	Gross ACLL Recoveries /
	Gross ACLL Losses		71	%		83	%
	Net ACLL Losses /
	Avg. Total Loans (a)		-0.14	%		-0.12	%
		(dollars in thousands)
								%
		6/30/26			6/30/25			Change		3/31/26
	Allowance for Credit Losses
	on Loans	$	10,790		$	13,787		-21.7	%	$	11,151
	Allowance for Credit Losses
	on Held to Maturity
	Securities		1			1		0.0	%		1
	Total Allowance for Credit
	Losses	$	10,791		$	13,788		-21.7	%	$	11,152
	Allowance for Unfunded
	Credit Commitments	$	201		$	201		0.0	%	$	201
9. Credit Quality.
		(dollars in thousands)
								%
		6/30/26			6/30/25			Change		3/31/26
	Nonperforming Loans:
	Nonperforming Nonaccrual
	Loans	$	183		$	-		n/m		$	380
	Performing Nonaccrual
	Loans		342			4,553		-92.5	%		785
	Total Nonaccrual Loans		525			4,553		-88.5	%		1,165
	Accruing Loans 90+ Days
	Past Due		283			411		-31.1	%		277
	Total Nonperforming Loans	$	808		$	4,964		-83.7	%	$	1,442
	Total Loans Outstanding	$	668,833		$	748,264		-10.6	%	$	696,204
	Total Assets		5,805,061			5,825,069		-0.3	%		5,864,450
	Loans:
	Allowance for Credit Losses
	on Loans	$	10,790		$	13,787		-21.7	%	$	11,151
	Allowance for Credit Losses
	on Loans / Loans		1.61	%		1.84	%				1.60	%
	Nonperforming Loans /
	Total Loans		0.12	%		0.66	%				0.21	%
10. Capital.
		(in thousands, except per-share amounts)
								%
		6/30/26			6/30/25			Change		3/31/26
	Shareholders' Equity	$	853,148		$	921,783		-7.4	%	$	882,690
	Total Assets		5,805,061			5,825,069		-0.3	%		5,864,450
	Shareholders' Equity/
	Total Assets		14.70	%		15.82	%				15.05	%
	Shareholders' Equity/
	Total Loans		127.56	%		123.19	%				126.79	%
	Tangible Common Equity
	Ratio		12.87	%		14.03	%				13.25	%
	Common Shares Outstanding		23,002			25,587		-10.1	%		23,631
	Common Equity Per Share	$	37.09		$	36.03		3.0	%	$	37.35
	Market Value Per Common
	Share		58.67			48.44		21.1	%		52.15
		(shares in thousands)
								%
		Q2'2026			Q2'2025			Change		Q1'2026
	Share Retirements (Issuances):
	Total Shares Retired		753			773		n/m			1,001
	Average Retirement Price	$	55.14		$	49.61		n/m		$	50.94
	Net Shares Retired		629			773		n/m			992
								%
		6/30'26YTD			6/30'25YTD			Change
	Total Shares Retired		1,754			1,134		n/m
	Average Retirement Price	$	52.74		$	49.88		n/m
	Net Shares Retired		1,621			1,121		n/m
11. Period-End Balance Sheets.
		(unaudited, dollars in thousands)
								%
		6/30/26			6/30/25			Change		3/31/26
	Assets:
	Cash and Due from Banks	$	301,934		$	626,437		-51.8	%	$	397,284
	Debt Securities Available for
	Sale:
	Corporate Securities		1,796,083			1,792,021		0.2	%		1,835,522
	Collateralized Loan
	Obligations		208,302			780,147		-73.3	%		293,987
	Agency Mortgage Backed
	Securities		1,297,830			291,543		345.2	%		1,123,422
	Securities of U.S.
	Government Sponsored
	Entities		296,531			301,903		-1.8	%		298,502
	Obligations of States and
	Political Subdivisions		40,431			60,835		-33.5	%		45,422
	Total Debt Securities
	Available for Sale		3,639,177			3,226,449		12.8	%		3,596,855
	Debt Securities Held to
	Maturity:
	Agency Mortgage Backed
	Securities		58,202			49,878		16.7	%		41,271
	Corporate Securities		733,806			738,846		-0.7	%		732,168
	Obligations of States and
	Political Subdivisions (1)		15,838			45,715		-65.4	%		26,119
	Total Debt Securities
	Held to Maturity (1)		807,846			834,439		-3.2	%		799,558
	Loans		668,833			748,264		-10.6	%		696,204
	Allowance For Credit Losses
	on Loans		(10,790	)		(13,787	)	-21.7	%		(11,151	)
	Total Loans, net		658,043			734,477		-10.4	%		685,053
	Premises and Equipment, net		25,592			25,850		-1.0	%		25,968
	Identifiable Intangibles, net		-			19		n/m			-
	Goodwill		121,673			121,673		0.0	%		121,673
	Other Assets		250,796			255,725		-1.9	%		238,059
	Total Assets	$	5,805,061		$	5,825,069		-0.3	%	$	5,864,450
	Liabilities and Shareholders'
	Equity:
	Deposits:
	Noninterest-Bearing	$	2,141,783		$	2,175,841		-1.6	%	$	2,135,925
	Interest-Bearing Transaction		908,521			894,774		1.5	%		939,285
	Savings		1,660,534			1,603,974		3.5	%		1,643,599
	Time		61,939			72,946		-15.1	%		64,943
	Total Deposits		4,772,777			4,747,535		0.5	%		4,783,752
	Securities Sold under
	Repurchase Agreements		131,813			101,210		30.2	%		144,456
	Total Short-Term
	Borrowed Funds		131,813			101,210		30.2	%		144,456
	Other Liabilities		47,323			54,541		-13.2	%		53,552
	Total Liabilities		4,951,913			4,903,286		1.0	%		4,981,760
	Shareholders' Equity:
	Common Equity:
	Paid-In Capital		415,038			456,964		-9.2	%		422,348
	Accumulated Other
	Comprehensive Loss		(117,592	)		(116,747	)	0.7	%		(107,267	)
	Retained Earnings		555,702			581,566		-4.4	%		567,609
	Total Shareholders' Equity		853,148			921,783		-7.4	%		882,690
	Total Liabilities and
	Shareholders' Equity	$	5,805,061		$	5,825,069		-0.3	%	$	5,864,450
12. Income Statements.
		(unaudited, in thousands except per-share amounts)
								%
		Q2'2026			Q2'2025			Change		Q1'2026
	Interest and Loan Fee Income:
	Loans	$	9,663		$	10,523		-8.2	%	$	9,879
	Equity Securities		433			408		6.1	%		446
	Debt Securities Available
	for Sale		34,556			30,815		12.1	%		32,695
	Debt Securities Held to
	Maturity		8,144			8,448		-3.6	%		8,494
	Interest-Bearing Cash		3,001			7,273		-58.7	%		4,256
	Total Interest and Loan
	Fee Income		55,797			57,467		-2.9	%		55,770
	Interest Expense:
	Transaction Deposits		45			44		2.3	%		45
	Savings Deposits		3,024			2,950		2.5	%		3,002
	Time Deposits		41			51		-19.6	%		42
	Securities Sold under
	Repurchase Agreements		211			144		46.1	%		206
	Total Interest Expense		3,321			3,189		4.1	%		3,295
	Net Interest and Loan
	Fee Income		52,476			54,278		-3.3	%		52,475
	(Reversal of) Provision
	for Credit Losses		-			-		n/m			(300	)
	Noninterest Income:
	Service Charges on Deposit
	Accounts		3,380			3,368		0.4	%		3,332
	Merchant Processing
	Services		2,840			2,687		5.7	%		2,739
	Debit Card Fees		1,462			1,664		-12.1	%		1,324
	Trust Fees		965			867		11.3	%		927
	ATM Processing Fees		484			482		0.4	%		450
	Other Service Fees		445			450		-1.1	%		408
	Bank Owned
	Life Insurance Gains		-			106		n/m			-
	Other Noninterest Income		718			691		3.9	%		427
	Total Noninterest Income		10,294			10,315		-0.2	%		9,607
	Noninterest Expense:
	Salaries and Related Benefits		12,541			12,303		1.9	%		12,325
	Occupancy and Equipment		5,209			5,154		1.1	%		5,427
	Outsourced Data Processing		2,781			2,709		2.7	%		2,788
	Limited Partnership
	Operating Losses		1,110			915		21.3	%		1,110
	Professional Fees		660			386		71.0	%		462
	Courier Service		765			687		11.4	%		734
	Other Noninterest Expense		2,971			3,375		-12.0	%		3,065
	Total Noninterest Expense		26,037			25,529		2.0	%		25,911
	Income Before Income Taxes		36,733			39,064		-6.0	%		36,471
	Income Tax Provision		9,348			9,998		-6.5	%		9,116
	Net Income	$	27,385		$	29,066		-5.8	%	$	27,355
	Average Common Shares
	Outstanding		23,306			25,889		-10.0	%		24,306
	Diluted Average Common
	Shares Outstanding		23,319			25,889		-9.9	%		24,306
	Per Common Share Data:
	Basic Earnings	$	1.17		$	1.12		4.9	%	$	1.13
	Diluted Earnings		1.17			1.12		4.5	%		1.13
	Dividends Paid		0.48			0.46		4.3	%		0.46
								%
		6/30'26YTD			6/30'25YTD			Change
	Interest and Loan Fee Income:
	Loans	$	19,542		$	21,192		-7.8	%
	Equity Securities		879			830		5.9	%
	Debt Securities Available
	for Sale		67,251			64,018		5.0	%
	Debt Securities Held to
	Maturity		16,638			16,942		-1.8	%
	Interest-Bearing Cash		7,257			13,976		-48.1	%
	Total Interest and Loan
	Fee Income		111,567			116,958		-4.6	%
	Interest Expense:
	Transaction Deposits		90			90		0.0	%
	Savings Deposits		6,026			6,078		-0.9	%
	Time Deposits		83			106		-21.7	%
	Securities Sold under
	Repurchase Agreements		417			311		34.1	%
	Total Interest Expense		6,616			6,585		0.5	%
	Net Interest and Loan
	Fee Income		104,951			110,373		-4.9	%
	Reversal of Provision
	for Credit Losses		(300	)		(550	)	n/m
	Noninterest Income:
	Service Charges on Deposit		6,712			6,749		-0.5	%
	Accounts
	Merchant Processing
	Services		5,579			5,420		2.9	%
	Debit Card Fees		2,786			3,245		-14.1	%
	Trust Fees		1,892			1,766		7.1	%
	ATM Processing Fees		934			945		-1.2	%
	Other Service Fees		853			879		-3.0	%
	Bank Owned
	Life Insurance Gains		-			208		n/m
	Other Noninterest Income		1,145			1,424		-19.6	%
	Total Noninterest Income		19,901			20,636		-3.6	%
	Noninterest Expense:
	Salaries and Related Benefits		24,866			24,429		1.8	%
	Occupancy and Equipment		10,636			10,192		4.4	%
	Outsourced Data Processing		5,569			5,406		3.0	%
	Limited Partnership
	Operating Losses		2,220			1,830		21.3	%
	Professional Fees		1,122			781		43.7	%
	Courier Service		1,499			1,375		9.0	%
	Other Noninterest Expense		6,036			6,643		-9.1	%
	Total Noninterest Expense		51,948			50,656		2.6	%
	Income Before Income Taxes		73,204			80,903		-9.5	%
	Income Tax Provision		18,464			20,800		-11.2	%
	Net Income	$	54,740		$	60,103		-8.9	%
	Average Common Shares
	Outstanding		23,804			26,263		-9.4	%
	Diluted Average Common
	Shares Outstanding		23,810			26,263		-9.3	%
	Per Common Share Data:
	Basic Earnings	$	2.30		$	2.29		0.4	%
	Diluted Earnings		2.30			2.29		0.4	%
	Dividends Paid		0.94			0.90		4.4	%
	Footnotes and Abbreviations:
	(1) Debt Securities Held To Maturity and Obligations of States and Political Subdivisions are net of related reserve for expected credit losses of $1 thousand at June 30, 2026, March 31, 2026 and June 30, 2025.
	(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 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
	Certain amounts in prior periods have been reclassified to conform to the current presentation.

FAQ

What were Westamerica Bancorporation (WABC) earnings per share for Q2 2026?

Westamerica Bancorporation reported diluted EPS of $1.17 for Q2 2026. According to Westamerica Bancorporation, this compares with $1.13 in Q1 2026 and $1.12 in Q2 2025, reflecting modest per-share earnings growth despite lower year-over-year net income.

How much net income did Westamerica Bancorporation (WABC) generate in Q2 2026?

Westamerica Bancorporation generated $27.4 million in net income for Q2 2026. According to Westamerica Bancorporation, this result is flat versus Q1 2026 but 5.8% lower than the $29.1 million reported in Q2 2025, reflecting softer net interest performance.

What was the net interest margin for Westamerica Bancorporation (WABC) in Q2 2026?

Westamerica Bancorporation reported a Q2 2026 net interest margin (FTE) of 3.77%. According to Westamerica Bancorporation, this margin improved from 3.74% in Q1 2026 but was below the 3.85% recorded in Q2 2025 as earning-asset yields softened year over year.

What dividend did Westamerica Bancorporation (WABC) pay in Q2 2026?

Westamerica Bancorporation paid a quarterly common dividend of $0.48 per share in Q2 2026. According to Westamerica Bancorporation, this represents an increase from $0.46 per share in both Q2 2025 and Q1 2026, with a common dividend payout ratio of 41%.

Did Westamerica Bancorporation (WABC) repurchase shares during Q2 2026?

Yes, Westamerica Bancorporation repurchased 753 thousand common shares in Q2 2026. According to Westamerica Bancorporation, these buybacks occurred under its existing share repurchase plan and contributed to a roughly 10% year-over-year reduction in average common shares outstanding.

How strong was asset quality at Westamerica Bancorporation (WABC) as of June 30, 2026?

Westamerica Bancorporation reported nonperforming assets of $808 thousand at June 30, 2026. According to Westamerica Bancorporation, the company recorded no provision for credit losses in Q2 2026 and held a $10.8 million allowance for credit losses on loans at quarter-end.

How did loans and deposits trend for Westamerica Bancorporation (WABC) in Q2 2026?

Average loans totaled $682.9 million in Q2 2026, down 10.4% year over year. According to Westamerica Bancorporation, average total deposits were $4.80 billion, down 1.0% from Q2 2025, while loans represented 14.2% of deposits during the quarter.