West Coast Community Bancorp Announces Earnings for the Third Quarter of 2026

Loan and deposit growth accompanied higher earnings, while the primary liquidity ratio fell from the previous quarter.

Rhea-AI Summary

West Coast Community Bancorp (Nasdaq: WCCB) reported third-quarter 2026 net income of $16.7 million, up 37.7% from the second quarter. Diluted earnings per share rose to $1.59 from $1.16. Nine-month net income increased 19.7% year over year to $43.9 million.

Quarterly net interest income rose 12.0% sequentially to $37.1 million. Earnings included a $920 thousand renewable-energy tax-credit benefit and benefited from the absence of the prior quarter's $1.8 million accelerated purchase discount accretion associated with subordinated debt redemption. Loans increased 2.9% to $2.34 billion, while deposits grew 1.3% to $2.56 billion. Credit-loss provisions fell to $7 thousand from $1.5 million, but the primary liquidity ratio declined to 11.7% from 13.0%.

The quarterly dividend increased by $0.04 to $0.29 per share, payable on or about November 6, 2026, to holders of record November 2.

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Positive

• Moderate pointThird-quarter net income increased 37.7% sequentially to $16.7 million, versus $12.2 million.
• Moderate pointNine-month net income increased 19.7% year over year to $43.9 million, from $36.7 million.
• Moderate pointQuarterly net interest income increased 12.0% sequentially to $37.1 million, from $33.1 million.
• Moderate pointLoans increased $65.6 million, or 2.9%, sequentially to $2.34 billion at September 30.
• Moderate pointDeposits increased $32.5 million, or 1.3%, sequentially to $2.56 billion at September 30.
• Moderate pointNet interest margin reached 5.18%, versus 4.90% sequentially but 5.26% a year earlier.
• Moderate pointCost of funds fell to 1.31% from 1.59% sequentially, versus 1.29% excluding second-quarter debt-redemption accretion.
• Moderate pointNon-GAAP efficiency ratio improved to 42.31%, versus 46.24% sequentially, or 43.91% excluding second-quarter debt-redemption accretion.
• Moderate pointReturn on average assets increased to 2.21%, from 1.69% in the second quarter.
• Moderate pointReturn on average equity increased to 16.44%, from 12.32% in the second quarter.
• Moderate pointNon-GAAP return on average tangible equity increased to 20.20%, from 15.47% in the second quarter.
• Moderate pointQuarterly credit-loss provisions fell to $7 thousand from $1.5 million, helped by a $1.2 million loan recovery.
• Moderate point. Forward-looking: it has not happened yet and may not happen.Quarterly dividend increased $0.04 to $0.29 per common share, payable on or about November 6, 2026.

11 minor points

• Minor pointThird-quarter diluted EPS rose to $1.59, from $1.16 sequentially and $1.14 a year earlier.
• Minor pointNine-month diluted EPS increased to $4.17, from $3.45 a year earlier.
• Minor pointRenewable-energy tax credits generated a $920 thousand tax benefit, adding approximately $0.09 to quarterly diluted EPS.
• Minor pointPrior-quarter debt-redemption accretion of $1.8 million did not recur in the third quarter.
• Minor pointTotal assets increased $38.4 million, or 1.3%, sequentially to $2.98 billion at September 30.
• Minor pointTotal risk-based capital ratio increased to 14.59% from 14.47% sequentially; the Bank remained well capitalized.
• Minor pointCommon equity tier 1 capital ratio increased to 13.33%, from 13.22% at June 30.
• Minor pointNon-GAAP tangible common equity ratio increased to 11.69%, from 11.67% at June 30.
• Minor pointBook value per share increased to $38.25, from $37.90 at June 30.
• Minor pointNon-GAAP tangible book value per share increased to $32.46, from $32.01 at June 30.
• Minor point. Forward-looking: it has not happened yet and may not happen.Expansion initiatives include hiring a Private Banking team and opening new branches.

Negative

• Moderate pointPrimary liquidity ratio declined to 11.7% at September 30, from 13.0% at June 30.
• Moderate pointNoninterest-bearing deposits declined to 39.00% of total deposits, from 39.74% sequentially and 43.46% a year earlier.
• Moderate pointNine-month net interest margin declined to 5.06%, from 5.27% a year earlier.
• Minor pointGross loan-to-deposit ratio rose to 91.46%, from 90.04% at June 30.
• Minor pointTier 1 leverage ratio declined to 12.07%, from 12.11% at June 30.

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SANTA CRUZ, Calif., Oct. 27, 2026 (GLOBE NEWSWIRE) -- West Coast Community Bancorp (Nasdaq: WCCB) ("Bancorp" or the "Company"), the parent company of West Coast Community Bank (the “Bank”), announced unaudited net income for the quarter ended September 30, 2026, of $16.7 million, compared to $12.2 million for the second quarter of 2026, representing an increase of 37.7%. Net income was $43.9 million and $36.7 million for the nine months ended September 30, 2026, and 2025, respectively, representing an increase of 19.7%. Diluted earnings per share (“EPS”) for the third quarter of 2026 were $1.59 compared to $1.16 for the second quarter of 2026. Diluted EPS was $4.17 and $3.45 for the nine months ended September 30, 2026, and 2025, respectively.

Earnings for the third quarter of 2026 reflected higher net interest income stemming from growth in all categories of average interest-earning assets, including growth in loans, as well as the recognition of a $920 thousand income tax benefit associated with the Bank's purchase of renewable energy tax credits at a discount during the third quarter. This income tax benefit increased both basic and diluted EPS by approximately $0.09 during the three and nine months ended September 30, 2026. Earnings for the third quarter also benefited from the absence of $1.8 million of accelerated purchase discount accretion, which was recorded in the second quarter of 2026, and was associated with the redemption of higher-cost subordinated debentures assumed in the merger with 1^st Capital Bancorp in 2024 ("sub debt redemption"). The sub debt redemption reduced both basic and diluted EPS by approximately $0.12 during the second quarter as well as for the nine months ended September 30, 2026.

"We delivered record quarterly earnings, marked by higher net interest income driven by solid loan growth – particularly by our San Luis Obispo County team – and overall higher average interest-earning assets funded through healthy deposit growth during the quarter,” said Krista Snelling, Chairman and Chief Executive Officer of West Coast Community Bancorp. "This quarter saw tremendous momentum across the business, including our expansion into Silicon Valley and the Peninsula and our Nasdaq listing. We continue to execute on our strategic priorities and growth initiatives, such as hiring our Private Banking team and opening new branches."

As previously announced on October 19, 2026, the Bancorp Board of Directors declared a quarterly cash dividend of $0.29 per common share, reflecting a $0.04 per share increase over the previous quarterly dividend. This dividend is payable on or about November 6, 2026, to shareholders of record as of November 2, 2026. “Increasing the dividend reflects the strength of our business, the confidence of our Board in our capacity for future growth and a commitment to rewarding our shareholders,” added Snelling.

Financial Highlights

	As of or for the Three Months Ended												For the Nine Months Ended
	September 30,				June 30,				September 30,				September 30,				September 30,
	2026				2026				2025				2026				2025
	(Dollars in thousands, except per share data)
Selected Financial Data
Net income	$	16,740			$	12,161			$	12,061			$	43,888			$	36,657
Net interest margin		5.18	%			4.90	%			5.26	%			5.06	%			5.27	%
Taxable equivalent net interest margin (a)		5.20	%			4.92	%			5.28	%			5.08	%			5.29	%
Cost of funds (b)		1.31	%			1.59	%			1.37	%			1.39	%			1.37	%
Efficiency ratio (c)		42.31	%			46.24	%			43.13	%			43.97	%			44.88	%
Return on:
Average assets		2.21	%			1.69	%			1.73	%			2.01	%			1.82	%
Average equity		16.44	%			12.32	%			13.16	%			14.84	%			13.89	%
Average tangible equity (d)		20.20	%			15.47	%			17.05	%			18.47	%			18.17	%
Allowance for credit losses on loans / gross loans		1.57	%			1.55	%			1.74	%
Noninterest-bearing deposits to total deposits		39.00	%			39.74	%			43.46	%
Gross loan-to-deposit ratio		91.46	%			90.04	%			87.32	%
Percent growth in loans		2.89	%			2.35	%			0.82	%			7.57	%			4.01	%
Percent growth in deposits		1.29	%			1.96	%			7.79	%			3.15	%			5.44	%
Capital Ratios
Tier 1 leverage ratio		12.07	%			12.11	%			11.37	%
Common equity tier 1 risk-based capital ratio		13.33	%			13.22	%			12.93	%
Tier 1 risk-based capital ratio		13.33	%			13.22	%			12.93	%
Total risk-based capital ratio		14.59	%			14.47	%			14.65	%
Tangible common equity ratio (e)		11.69	%			11.67	%			10.95	%
Share and Per Share Data
Basic earnings per share ("EPS")	$	1.61			$	1.17			$	1.15			$	4.23			$	3.49
Diluted EPS	$	1.59			$	1.16			$	1.14			$	4.17			$	3.45
Book value per share	$	38.25			$	37.90			$	34.97
Tangible book value per share (f)	$	32.46			$	32.01			$	28.81
(a) Net interest margin is calculated by dividing annualized taxable equivalent net interest income, a non-GAAP measure, by period average interest-earning assets. Interest income on tax-exempt securities and loans are presented on a taxable-equivalent basis using the federal statutory rate of 21 percent. Please see "Non-GAAP Financial Measures" below.
(b) Cost of funds is computed by dividing annualized interest expense by the sum of period average deposits and borrowings.
(c) Efficiency ratio, a non-GAAP measure, equals total noninterest expenses divided by the sum of net interest income and noninterest income. Please see "Non-GAAP Financial Measures" below.
(d) Return on average tangible equity, a non-GAAP measure, is calculated by dividing annualized net income (adjusted for the after-tax amortization of intangible assets) by average tangible equity for the period. Tangible common equity is defined in note (f) below. In this release we also may refer to tangible common equity as tangible equity. Please see "Non-GAAP Financial Measures" below.
(e) Tangible common equity ratio, a non-GAAP measure, is calculated by dividing tangible common equity, as defined in note (f) below, by assets less goodwill and other intangible assets. Please see "Non-GAAP Financial Measures" below.
(f) Tangible common equity, a non-GAAP measure, equals total shareholders' equity less goodwill and other intangible assets. Tangible book value per share, a non-GAAP measure, divides tangible common equity by the number of shares outstanding at the period end. Please see "Non-GAAP Financial Measures" below.

• Total loans, net of unaccreted purchase discount and deferred fees and costs, were $2.34 billion at September 30, 2026, compared to $2.27 billion at June 30, 2026, representing an increase of $65.6 million, or 2.9%. Loan growth was most notable in revolving commercial lines, especially in agriculture-related businesses sourced from our San Luis Obispo County team.
  
• Taxable equivalent net interest margin, a non-GAAP measure, was 5.20% and 4.92% for the quarters ended September 30, 2026, and June 30, 2026, respectively. The quarter-over-quarter increase is largely attributed to the absence of the sub debt redemption that occurred in the second quarter of 2026. Excluding the impact of sub debt redemption, the adjusted taxable equivalent net interest margin, a non-GAAP measure, was 5.19% for the second quarter of 2026. Please see “Non-GAAP Financial Measures" below.
  
• The cost of funds was 1.31% and 1.59% for the quarters ended September 30, 2026, and June 30, 2026, respectively. The quarter-over-quarter decrease in the cost of funds is attributed to the absence of the sub debt redemption that occurred in the second quarter. Excluding the impact of the sub debt redemption, the adjusted cost of funds, a non-GAAP measure, was approximately 1.29% for the second quarter of 2026. Please see “Non-GAAP Financial Measures" below.
  
• The efficiency ratio, a non-GAAP measure, was 42.31% and 46.24% for the quarters ended September 30, 2026, and June 30, 2026, respectively. The decrease in the efficiency ratio for the third quarter of 2026 is largely attributed to the absence of $1.8 million in accelerated accretion associated with the sub debt redemption in the second quarter, as well as higher net interest income in the third quarter driven by growth in average interest-earning assets. Excluding the impact of the sub debt redemption, the adjusted efficiency ratio, a non-GAAP measure, was 42.31% and 43.91% for the quarters ended September 30, 2026, and June 30, 2026, respectively. Please see "Non-GAAP Financial Measures" below.
  
• Return on average assets (“ROAA”) was 2.21% and 1.69% for the quarters ended September 30, 2026, and June 30, 2026, respectively. Excluding the benefit on the purchase of transferable renewable energy tax credits in the third quarter and the impact of accelerated accretion on the sub debt redemption that occurred in the second quarter, adjusted ROAA, a non-GAAP measure, was 2.08% and 1.87% for the quarters ended September 30, 2026, and June 30, 2026, respectively. Please see "Non-GAAP Financial Measures" below.
  
• Return on average equity ("ROAE") was 16.44% and 12.32% for the quarters ended September 30, 2026, and June 30, 2026, respectively. ROAE was favorably impacted in the third quarter by the absence of accelerated accretion on the sub debt redemption that occurred in the second quarter and the benefit on the purchase of transferable renewable energy tax credits. Excluding these items, adjusted ROAE, a non-GAAP measure, was 15.53% and 13.62% for the quarters ended September 30, 2026, and June 30, 2026, respectively. Please see "Non-GAAP Financial Measures" below.
  
• Return on average tangible equity (“ROATE”), a non-GAAP measure, was 20.20% and 15.47% for the quarters ended September 30, 2026, and June 30, 2026, respectively. Excluding the benefit on the purchase of transferable renewable energy tax credits in the third quarter and accelerated accretion on the sub debt redemption that occurred in the second quarter, adjusted ROATE, a non-GAAP measure, was 19.13% and 17.01% for the quarters ended September 30, 2026, and June 30, 2026, respectively. Please see "Non-GAAP Financial Measures" below.
  
• Total provision for credit losses on loans and unfunded loan commitments was $7 thousand for the third quarter of 2026, compared to a provision for credit losses of $1.5 million for the second quarter. The quarter-over-quarter decrease is largely attributed to the full recovery of a previously substantially charged-off loan in the amount of $1.2 million, favorable changes in economic forecasts and qualitative factors used in the allowance for credit losses (“ACL”) model. These were partially offset by the impact of loan growth and the change in the mix of loans during the quarter as well as an increase in the allowance for certain individually evaluated loans.
  
• Total assets were $2.98 billion at September 30, 2026, compared to $2.95 billion at June 30, 2026, representing an increase of $38.4 million, or 1.3%, from June 30, 2026. The quarter-over-quarter increase in total assets is largely attributed to a $65.6 million increase in total loans.
  
• Total deposits were $2.56 billion at September 30, 2026, compared to $2.52 billion at June 30, 2026, representing an increase of $32.5 million, or 1.3%, from June 30, 2026. The increase in deposits during the third quarter was largely driven by the establishment of new client relationships.
  
• Bancorp’s regulatory capital ratios exceeded applicable minimum capital adequacy requirements, and the Bank continued to meet the regulatory capital thresholds necessary to be categorized as well capitalized under the prompt corrective action framework. Bancorp’s total risk-based capital ratio was 14.59% and 14.47% at September 30, 2026, and June 30, 2026, respectively. The tangible common equity ratio, a non-GAAP measure, was 11.69% and 11.67% at September 30, 2026, and June 30, 2026, respectively. Please see "Non-GAAP Financial Measures" below.
  
• Tangible book value per share, a non-GAAP measure, was $32.46 and $32.01 at September 30, 2026, and June 30, 2026, respectively. Please also see "Non-GAAP Financial Measures" below.
  
• Primary liquidity ratio, defined as cash and cash equivalents, deposits held in other banks and unpledged available for sale (“AFS”) securities as a percentage of total assets, was 11.7% and 13.0% at September 30, 2026, and June 30, 2026, respectively.
  

Net Interest Income and Net Interest Margin

Net interest income was $37.1 million for the third quarter of 2026, representing an increase of $4.0 million, or 12.0%, from $33.1 million for the second quarter of 2026. The quarter-over-quarter increase in net interest income is attributed to growth in average interest-earning assets during the third quarter and the absence of $1.8 million in accelerated accretion associated with the sub debt redemption that occurred in the second quarter. The increase in interest-earning assets is attributed to growth in loan balances during the quarter as well as higher average balances of investment securities and interest-earning cash. These increases were funded in part by higher average deposit balances during the quarter.

The taxable equivalent net interest margin, a non-GAAP measure, was 5.20% for the third quarter of 2026, compared to 4.92% for the second quarter, or 5.19%, on an adjusted basis when excluding the impact of the sub debt redemption, a non-GAAP measure. The modest quarter-over-quarter increase in the adjusted taxable equivalent net interest margin can be attributed to slightly higher overall yields on average interest-earning assets, including a seven-basis-point increase in the average yield on loans during the third quarter. This was partially offset by a slight increase in the adjusted cost of funds, a non-GAAP measure, during the third quarter that can be attributed to growth in money market deposits, coupled with slightly higher overall rates on deposits during the third quarter. The cost of funds for the third quarter of 2026 was 1.31%, compared to 1.59% for the second quarter, or 1.29% on an adjusted basis when excluding the impact of the sub debt redemption in the second quarter, a non-GAAP measure. Please see "Non-GAAP Financial Measures" below.

The following tables compare interest income, average interest-earning assets, interest expense, average interest-bearing liabilities, net interest income, net interest margin and cost of funds for each period presented:

	For the Three Months Ended
	September 30, 2026									June 30, 2026									September 30, 2025
	Average Balance			Interest Income / Expense			Avg Yield / Cost			Average Balance			Interest Income / Expense			Avg Yield / Cost			Average Balance			Interest Income / Expense			Avg Yield / Cost
	(Dollars in thousands)
ASSETS
Interest-earning cash	$	149,017		$	1,386		3.69	%		$	98,211		$	893		3.65	%		$	116,056		$	1,284		4.39	%
Investment securities (1)		394,507			3,797		3.82	%			382,863			3,530		3.70	%			385,235			3,374		3.47	%
Loans (1) (2)		2,300,973			40,659		7.01	%			2,233,133			38,631		6.94	%			2,109,593			38,356		7.21	%
Total interest-earning assets (1)		2,844,497			45,842		6.39	%			2,714,207			43,054		6.36	%			2,610,884			43,014		6.54	%
Noninterest-earning assets		167,307									165,372									161,773
Total assets	$	3,011,804								$	2,879,579								$	2,772,657
LIABILITIES
Interest-bearing demand deposits	$	243,538			606		0.99	%		$	247,226			571		0.93	%		$	248,684			665		1.06	%
Money market deposits		1,030,064			6,762		2.60	%			945,898			6,043		2.56	%			785,520			5,787		2.92	%
Savings deposits		170,096			365		0.85	%			160,143			306		0.77	%			181,256			441		0.97	%
Time certificates of deposits		136,962			819		2.37	%			139,526			844		2.43	%			152,992			1,125		2.92	%
Subordinated debt		—			—		—	%			7,794			1,991		102.46	%			11,052			229		8.22	%
Total interest-bearing liabilities		1,580,660			8,552		2.15	%			1,500,587			9,755		2.61	%			1,379,504			8,247		2.37	%
Noninterest-bearing deposits		999,936									959,162									1,008,555
Noninterest-bearing liabilities		27,110									23,876									20,913
Total liabilities		2,607,706									2,483,625									2,408,972
EQUITY		404,098									395,954									363,685
Total liabilities and equity	$	3,011,804								$	2,879,579								$	2,772,657
Taxable equivalent net interest income and margin (1)				$	37,290		5.20	%					$	33,299		4.92	%					$	34,767		5.28	%
GAAP net interest income and margin				$	37,110		5.18	%					$	33,138		4.90	%					$	34,634		5.26	%
Cost of funds							1.31	%								1.59	%								1.37	%
(1) Interest income on investment securities, interest income on loans, net interest income and net interest margin are presented here on a taxable equivalent basis, using the statutory federal income tax rate of 21 percent, and are non-GAAP financial measures. Please see "Non-GAAP Financial Measures" below.
(2) Average balances on loans outstanding include nonaccrual loans, unamortized net deferred loan fees/costs and unaccreted purchase discount on acquired loans. The amortization of net loan origination fees and accretion of purchase discount on acquired loans are included in interest income on loans.

		For the Nine Months Ended
		September 30, 2026									September 30, 2025
		Average Balance			Interest Income / Expense			Avg Yield / Cost			Average Balance			Interest Income / Expense			Avg Yield / Cost
		(Dollars in thousands)
ASSETS
Interest-earning cash		$	132,851		$	3,646		3.67	%		$	52,920		$	1,734		4.38	%
Investment securities (1)			388,635			10,802		3.72	%			381,978			9,819		3.44	%
Loans (1) (2)			2,237,480			116,423		6.96	%			2,096,800			112,354		7.16	%
Total interest-earning assets (1)			2,758,966			130,871		6.34	%			2,531,698			123,907		6.54	%
Noninterest-earning assets			162,760									162,157
Total assets		$	2,921,726								$	2,693,855
LIABILITIES
Interest-bearing demand deposits		$	247,187			1,750		0.95	%		$	251,187			1,951		1.04	%
Money market deposits			967,283			18,549		2.56	%			736,528			15,660		2.84	%
Savings deposits			166,115			1,017		0.82	%			174,706			1,127		0.86	%
Time certificates of deposits			140,819			2,590		2.46	%			159,616			3,699		3.10	%
Short-term borrowings			—			—		—	%			12,317			412		4.47	%
Subordinated debt			5,175			2,155		55.68	%			11,293			860		10.18	%
Total interest-bearing liabilities			1,526,579			26,061		2.28	%			1,345,647			23,709		2.36	%
Noninterest-bearing deposits			975,278									972,525
Noninterest-bearing liabilities			24,580									22,776
Total liabilities			2,526,437									2,340,948
EQUITY			395,289									352,907
Total liabilities and equity		$	2,921,726								$	2,693,855
Taxable equivalent net interest income and margin (1)					$	104,810		5.08	%					$	100,198		5.29	%
GAAP net interest income					$	104,330		5.06	%					$	99,786		5.27	%
Cost of funds								1.39	%								1.37	%
(1) Interest income on investment securities, interest income on loans, net interest income and net interest margin are presented here on a taxable equivalent basis, using the statutory federal income tax rate of 21 percent, and are non-GAAP financial measures. Please see "Non-GAAP Financial Measures" below.
(2) Average balances on loans outstanding include nonaccrual loans, unamortized net deferred loan fees/costs and unaccreted purchase discount on acquired loans. The amortization of net loan origination fees and accretion of purchase discount on acquired loans are included in interest income on loans.

Noninterest Income 

Noninterest income for the third quarter of 2026 was $1.3 million, compared to $1.2 million for the second quarter of 2026. The quarter-over-quarter increase is largely attributed to a $153 thousand special dividend that was received on our holdings of FHLB of San Francisco stock during the third quarter.

Noninterest Expense

Noninterest expense for the third quarter of 2026 was $16.3 million, compared to $15.9 million for the second quarter of 2026. The quarter-over-quarter increase is largely attributed to increases in data and item processing costs, professional fees and various other miscellaneous expenses, partially offset by a decrease in salaries and employee benefits. The increase in data and item processing costs during the third quarter is primarily associated with the absence of one-time credits received from our core system processor that were utilized in the second quarter. The increase in professional fees can be attributed to expenses incurred related to Bancorp becoming an SEC registrant and a Nasdaq-listed company in the third quarter, as well as various other expenses associated with regular third-party credit reviews and other consulting fees. The decline in salaries and employee benefits during the quarter was primarily associated with the absence of expense associated with annual director stock grants that occurred in the second quarter, as well as increased compensation deferrals attributed to successful loan originations during the third quarter.

Investment Portfolio

Securities issued by U.S. government-sponsored agencies, U.S. Treasury bonds and Small Business Administration ("SBA") securities accounted for 52%, 26% and 1%, respectively, of the investment portfolio as of September 30, 2026. These securities carry explicit or implicit credit guarantees from the U.S. government and thus present minimal credit or liquidity risk. Municipal bonds, corporate bonds and private-label collateralized mortgage obligations/asset-backed instruments represent 17%, 2% and 2% of the carrying value of the portfolio, respectively, as of September 30, 2026.

The investment portfolio totaled $377.9 million at September 30, 2026, compared to $388.1 million at June 30, 2026. The decrease in the investment portfolio from June 30, 2026, was primarily due to an increase in unrealized losses on AFS securities of $14.8 million, stemming from a rise in intermediate-term interest rates during the period, and maturities, paydowns and sales during the third quarter totaling $16.0 million, partially offset by purchases of U.S. Treasury securities, totaling $19.9 million. The investment portfolio had an effective duration of 3.8 years as of September 30, 2026, and June 30, 2026.

Net unrealized losses on AFS securities were $23.8 million, or $16.8 million after-tax, at September 30, 2026, compared to $9.0 million, or $6.3 million after-tax, at June 30, 2026.

Loans and Asset Quality

Total loans, net of unaccreted purchase discount and deferred fees and costs, increased $65.6 million, or 2.9%, from June 30, 2026. Loan growth during the third quarter of 2026 was largely attributed to increases in revolving commercial lines, which grew by $66.4 million during the quarter. This increase was primarily attributed to agriculture-related lending by the Bank's San Luis Obispo County team. New loan commitments originated during the third quarter were $199.1 million, driven by $86.8 million in new commercial and industrial (“C&I”) commitments and $57.9 million in new commercial real estate (“CRE”) loan commitments.

Nonaccrual loans of $11.9 million accounted for 0.51% of total loans at September 30, 2026, compared to $11.4 million, or 0.50%, of total loans at June 30, 2026. At September 30, 2026, nonaccrual loans included a $5.8 million hotel relationship, consisting of two loans, of which one has an SBA guarantee of approximately $3.7 million. Other nonaccrual loans at September 30, 2026, consisted primarily of SBA-related credits totaling $4.7 million that contained SBA guarantees of approximately $4.0 million, and two CRE loans totaling approximately $1.4 million. At September 30, 2026, government guarantees of $7.8 million reduced net credit exposure on nonaccrual loans to approximately $4.1 million.

Accruing loans past due 30-89 days totaled $2.3 million at September 30, 2026, an increase from $1.2 million at June 30, 2026. The balance of accruing loans past due 30-89 days primarily reflects a $1.9 million substandard CRE loan that is secured by a mixed-use property. There were no loans more than 90 days past due still accruing as of September 30, 2026, or June 30, 2026.

The ACL on loans was $36.6 million at September 30, 2026, or 1.57%, of total loans, compared to $35.1 million at June 30, 2026, or 1.55%, of total loans. The increase in the ACL during the third quarter is attributed to several factors including organic loan growth and changes in portfolio mix which increased the ACL by approximately $1.5 million, and a $1.2 million increase in the ACL for certain individually evaluated loans. These increases were partially offset by lower pooled reserve rates reflecting improvements in the economic forecast as well as improvements in certain qualitative factors used in the ACL model. The provision for credit losses on loans was $275 thousand for the third quarter of 2026, compared to $1.4 million in the second quarter of 2026. The quarter-over-quarter decrease in the provision is largely attributed to the factors just discussed in addition to the full recovery, upon payoff, of a previously substantially charged-off loan in the amount of $1.2 million that occurred in the third quarter.

The Bank recorded net recoveries for the third quarter of 2026 of $1.2 million. Net recoveries for the quarter were largely attributed to the full recovery previously discussed.

The ACL for unfunded commitments, recorded in other liabilities, was $2.6 million, or 0.38% of unfunded credit commitments at September 30, 2026, compared to $2.9 million, or 0.42%, at June 30, 2026. The decrease in the ACL for unfunded commitments reflected, in part, higher utilization of commercial lines, which reduced unfunded commitments, and lower reserve rates consistent with improvements in the qualitative factors used to determine the ACL for funded loans. Total unfunded commitments decreased by approximately $6.3 million during the third quarter to $675.0 million as of September 30, 2026.

The following table summarizes the composition of the Bank’s loan portfolio as of the dates indicated:

	As of												Change % vs.
	September 30,				June 30,				September 30,				June 30,			September 30,
	2026				2026				2025				2026			2025
	(Dollars in thousands)
SBA and business and industry loans	$	162,956			$	168,665			$	177,493			(3.4	)%		(8.2	)%
Commercial term loans		129,720				128,542				123,755			0.9	%		4.8	%
Revolving commercial lines		282,692				216,275				168,864			30.7	%		67.4	%
Asset-based lines of credit		54,343				49,926				45,117			8.8	%		20.4	%
Construction loans		254,825				262,513				246,774			(2.9	)%		3.3	%
Commercial real estate loans		1,420,402				1,413,772				1,345,230			0.5	%		5.6	%
Home equity lines of credit		37,246				36,956				37,239			0.8	%		—	%
Consumer and other loans		6,263				8,198				3,596			(23.6	)%		74.2	%
Deferred loan expenses, net of fees		2,610				2,281				2,160			14.4	%		20.8	%
Total loans, net of deferred fees and costs		2,351,057				2,287,128				2,150,228			2.8	%		9.3	%
Purchase discount on acquired loans		(14,059	)			(15,722	)			(23,050	)		(10.6	)%		(39.0	)%
Total loans, net of unaccreted purchase discount	$	2,336,998			$	2,271,406			$	2,127,178			2.9	%		9.9	%

The following table summarizes delinquent and nonperforming loans, net of deferred fees and costs, and purchase discounts as of the dates indicated:

	As of or for the Periods Ended
	September 30,				June 30,			September 30,
	2026				2026			2025
	(Dollars in thousands)
Loans past due 30-89 days	$	2,318			$	1,244		$	8,418
Loans past due 30-89 days, net of government guaranteed amounts	$	2,318			$	1,244		$	4,693
Delinquent loans (past due 90+ days still accruing)	$	—			$	—		$	—
Nonaccrual loans		11,881				11,442			14,355
Other real estate owned		6,874				6,874			—
Nonperforming assets	$	18,755			$	18,316		$	14,355
Nonperforming assets, net of government guaranteed amounts	$	11,007			$	10,002		$	12,495
Net loan (recoveries) charge-offs QTD	$	(1,214	)		$	944		$	—
Net loan charge-offs YTD	$	3,098			$	4,312		$	27

Deposits

Deposits totaled $2.6 billion at September 30, 2026, an increase of $32.5 million, or 1.3%, compared to June 30, 2026. The increase in deposits during the third quarter of 2026 was driven by the establishment of a few large new-client relationships that brought in money market deposits during the quarter, as well as seasonal deposit inflows. Noninterest-bearing deposits to total deposits was 39.0% and 39.7% at September 30, 2026, and June 30, 2026, respectively.

The 10 largest deposit relationships, excluding fully collateralized government agency deposits, represent approximately 15.0% of total deposits as of September 30, 2026. The Bank generally aggregates related depositors with entities and individuals that have the same deposit account signers as one deposit relationship.

The following table summarizes the composition of the Bank’s deposits as of the dates indicated:

	As of									Change % vs.
	September 30,			June 30,			September 30,			June 30,			September 30,
	2026			2026			2025			2026			2025
	(Dollars in thousands)
Noninterest-bearing demand	$	996,593		$	1,002,579		$	1,058,787		(0.6	)%		(5.9	)%
Interest-bearing demand		235,923			230,837			235,025		2.2	%		0.4	%
Money markets		1,023,335			984,500			810,311		3.9	%		26.3	%
Savings		166,787			166,673			181,282		0.1	%		(8.0	)%
Time certificates of deposit		132,547			138,104			150,692		(4.0	)%		(12.0	)%
Total deposits	$	2,555,185		$	2,522,693		$	2,436,097		1.3	%		4.9	%
Deposits – personal	$	776,887		$	781,810		$	779,312		(0.6	)%		(0.3	)%
Deposits – business		1,778,298			1,740,883			1,656,785		2.1	%		7.3	%
Total deposits	$	2,555,185		$	2,522,693		$	2,436,097		1.3	%		4.9	%

Liquidity Position

The following table summarizes the Bank’s liquidity for each period reported:

	As of
	September 30,			June 30,			September 30,
	2026			2026			2025
	(Dollars in thousands)
Cash and cash equivalents	$	116,929		$	146,873		$	143,504
Interest-earning deposits in other financial institutions		100			100			249
Unencumbered AFS securities		232,614			235,993			326,183
Total on-balance-sheet liquidity		349,643			382,966			469,936
Line of credit from the FHLB of San Francisco – collateralized		736,073			723,750			662,537
Line of credit from the FRB of San Francisco – collateralized		445,177			412,909			382,095
Lines at correspondent banks – unsecured		100,000			100,000			100,000
Total external contingency liquidity capacity		1,281,250			1,236,659			1,144,632
Less: short-term borrowings		—			—			—
Net available liquidity sources	$	1,630,893		$	1,619,625		$	1,614,568

As of September 30, 2026, net liquidity of $1.63 billion exceeded uninsured and uncollateralized deposits of approximately $1.35 billion, with a coverage ratio of 120%.

Shareholders’ Equity

Total shareholders’ equity was $402.6 million at September 30, 2026, a $4.1 million, or 1.0%, increase compared to June 30, 2026. Tangible common equity, a non-GAAP measure, was $341.6 million at September 30, 2026, a $5.1 million, or 1.5%, increase compared to June 30, 2026. The quarter-over-quarter change in tangible common equity is largely attributed to net income of $16.7 million, activity related to stock-based compensation and the amortization of core deposit intangibles, together totaling $1.5 million, partially offset by an increase in accumulated other comprehensive loss of $10.5 million due to higher unrealized losses on AFS investment securities during the quarter, and dividends declared of $2.6 million. Tangible book value per share, a non-GAAP measure, was $32.46 at September 30, 2026, compared to $32.01 at June 30, 2026. Please see "Non-GAAP Financial Measures" below.

ABOUT WEST COAST COMMUNITY BANCORP AND WEST COAST COMMUNITY BANK

West Coast Community Bancorp is the bank holding company for West Coast Community Bank. Founded in 2004, the Bank is a top-rated, locally operated and full-service community bank headquartered in Santa Cruz, Calif. with branches in Aptos, Capitola, King City, Monterey, Salinas, San Jose, San Luis Obispo, San Mateo, Santa Cruz, Scotts Valley and Watsonville. West Coast Community Bank is distinguished from "big banks" by its relationship-based service, problem-solving focus and direct access to decision makers. The Bank also is an SBA Preferred Lending Partner. As a full-service bank, West Coast Community Bank offers competitive deposit and lending solutions for businesses and individuals; including business loans, lines of credit, commercial real estate financing, construction lending, asset-based lending, agricultural loans, SBA and USDA government guaranteed loans, credit cards, merchant services, remote deposit capture, mobile and online banking, bill payment and treasury management. Additional information regarding the Company’s recent industry recognition, community engagement, and financial performance is included in the accompanying investor presentation and at investors.wccb.com.

Forward-Looking Statements

This release may contain statements that we believe are, or may be considered to be, “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements are neither historical facts nor assurances of future performance. Instead, they are based on our current beliefs, expectations or assumptions regarding the future of the business, future plans and strategies, operational results and other future conditions of the Company. All statements other than statements of historical fact included in this release may constitute forward-looking statements, including statements regarding the prospects of our industry or our prospects, plans, expected operating results, financial position or business strategy. In addition, forward-looking statements generally can be identified by the use of forward-looking words such as “plan,” “expect,” “look forward to,” “budget,” “scheduled,” “estimate,” “forecast,” “continue,” “intend,” “potential,” “anticipate,” “believe,” “should,” “may,” “could,” “would,” “might,” “seek,” “will,” “be taken,” “occur,” “be achieved” or the negative of these terms or variations of them or similar terms. Although we believe that the expectations reflected in these forward-looking statements are reasonable, we cannot assure you that these expectations will prove to be correct. These forward-looking statements are subject to certain known and unknown risks and uncertainties that could cause actual results to differ materially from those reflected in these forward-looking statements. Such risks and uncertainties may include but are not necessarily limited to fluctuations in interest rates (including but not limited to changes in depositor behavior and/or impacts on our core deposit intangible in relation thereto), inflation, government regulations and general economic conditions and competition within the business areas in which the Company and the Company’s clients are conducting their operations, including the impact of proposed or imposed tariffs or other trade restrictions, labor or supply chain issues, health of the real estate market in California, the Company’s ability to effectively execute its business plans, other factors beyond the Company’s control and those risks and uncertainties described in our filings with the Securities and Exchange Commission (“SEC”), which are available on the Investor Relations page of our website at investors.wccb.com and on the SEC’s website at www.sec.gov. Therefore, we caution you not to place undue reliance on any forward-looking statements contained herein, which reflect management’s opinions only as of the date hereof. Except as required by law, we undertake no obligation to revise or publicly release the results of any revision to any forward-looking statements.

Concurrent with this earnings release, the Company issued presentation slides providing supplemental information intended to be reviewed together with this release. Slides may be viewed online at: investors.wccb.com.

MEDIA CONTACTS
Krista Snelling, Chairman and Chief Executive Officer
Cecilia Situ, Executive Vice President and Chief Financial Officer
investorrelations@wccb.com

Consolidated Balance Sheets (Unaudited)

	As of
	September 30,				June 30,				September 30,
	2026				2026				2025
	(Dollars in thousands)
ASSETS
Cash and cash equivalents	$	116,929			$	146,873			$	143,504
Interest-earning deposits in other financial institutions		100				100				249
Investment securities available for sale, net of allowance of credit losses of $0		371,517				381,745				428,007
Investment securities held to maturity, net of allowance for credit losses of $0		6,365				6,383				6,570
Loans held for investment		2,336,998				2,271,406				2,127,178
Less: Allowance for credit losses on loans		(36,608	)			(35,119	)			(37,091	)
Loans, net of allowance		2,300,390				2,236,287				2,090,087
Non-marketable equity investments, at cost		15,370				15,370				15,355
Premises and equipment, net		10,677				10,814				10,206
Goodwill		40,054				40,054				40,054
Core deposit intangible asset, net		20,899				21,885				24,849
Bank-owned life insurance		30,105				29,897				28,097
Accrued interest receivable and other assets		71,178				55,797				51,193
Total assets	$	2,983,584			$	2,945,205			$	2,838,171
LIABILITIES
Deposits
Noninterest-bearing	$	996,593			$	1,002,579			$	1,058,787
Interest-bearing		1,558,592				1,520,114				1,377,310
Total deposits		2,555,185				2,522,693				2,436,097
Subordinated debentures		—				—				11,092
Accrued interest payable and other liabilities		25,809				24,024				22,486
Total liabilities		2,580,994				2,546,717				2,469,675
SHAREHOLDERS' EQUITY
Preferred stock, no par value; 10,000,000 shares authorized; no shares issued or outstanding		—				—				—
Common stock, no par value; 30,000,000 shares authorized; 10,524,552, 10,513,743, and 10,537,167 outstanding as of September 30, 2026, June 30, 2026, and September 30, 2025, respectively		200,013				199,528				203,493
Retained earnings		218,780				204,667				170,992
Accumulated other comprehensive loss, net of taxes		(16,203	)			(5,707	)			(5,989	)
Total shareholders' equity		402,590				398,488				368,496
Total liabilities and shareholders' equity	$	2,983,584			$	2,945,205			$	2,838,171

Consolidated Statements of Income (Unaudited)

	For the Three Months Ended												For the Nine Months Ended
	September 30,				June 30,				September 30,				September 30,				September 30,
	2026				2026				2025				2026				2025
	(Dollars in thousands, except per share data)
Interest Income
Loans, including fees	$	40,568			$	38,562			$	38,334			$	116,235			$	112,288
Interest-earning deposits in other financial institutions		1,386				893				1,284				3,646				1,734
Taxable securities		3,252				2,975				2,693				9,063				7,725
Tax-exempt securities		456				463				570				1,447				1,748
Total interest income		45,662				42,893				42,881				130,391				123,495
Interest Expense
Deposits		8,552				7,764				8,018				23,906				22,437
Subordinated debentures		—				1,991				229				2,155				860
FHLB advances and other borrowings		—				—				—				—				412
Total interest expense		8,552				9,755				8,247				26,061				23,709
Net interest income before provision for credit losses		37,110				33,138				34,634				104,330				99,786
Provision for credit losses on loans		275				1,386				3,540				1,533				5,442
(Reversal of) provision for credit losses on unfunded loan commitments		(268	)			128				(50	)			(371	)			50
Net interest income after provision for credit losses		37,103				31,624				31,144				103,168				94,294
Noninterest Income
Service charges on deposits		282				246				177				778				515
Loan servicing fees		81				101				126				289				394
ATM fee income		269				268				280				794				835
Earnings on bank-owned life insurance		208				205				185				613				547
Dividends on non-marketable equity securities		309				174				281				1,139				856
Loss on sale of securities		(34	)			(65	)			(2	)			(2	)			(281	)
Gain on sale of loans		—				—				—				912				—
Loss on sale of other assets		(29	)			—				—				(26	)			—
Other		217				247				238				692				817
Total noninterest income		1,303				1,176				1,285				5,189				3,683
Noninterest Expense
Salaries and employee benefits		8,660				9,114				8,300				26,312				25,538
Occupancy		910				944				797				2,711				2,517
Furniture and equipment		1,063				1,108				888				3,192				2,705
Marketing, business development and shareholder-related expense		431				352				519				1,066				1,440
Data and item processing		816				438				698				1,736				2,069
Regulatory assessments, including federal deposit insurance		394				403				369				1,188				1,160
Amortization of core deposit intangibles		986				987				1,068				2,959				3,202
Professional fees		779				439				629				2,475				1,358
Acquisition-related expense		—				—				150				—				497
Other		2,215				2,083				2,073				6,519				5,950
Total noninterest expense		16,254				15,868				15,491				48,158				46,436
Income before income taxes		22,152				16,932				16,938				60,199				51,541
Income tax expense		5,412				4,771				4,877				16,311				14,884
Net income	$	16,740			$	12,161			$	12,061			$	43,888			$	36,657
Weighted Average Common Shares Outstanding
Basic		10,380,906				10,369,791				10,489,496				10,369,257				10,505,896
Diluted		10,542,098				10,507,662				10,601,694				10,513,013				10,617,773
Earnings per share
Basic	$	1.61			$	1.17			$	1.15			$	4.23			$	3.49
Diluted	$	1.59			$	1.16			$	1.14			$	4.17			$	3.45

Non-GAAP Financial Measures

In addition to presenting the Company’s results of operations in accordance with generally accepted accounting principles (“GAAP”) in the United States of America, certain financial measures discussed herein are non-GAAP financial measures, examples of which include taxable equivalent net interest income, efficiency ratio, tangible common equity ratio and return on average tangible equity. Generally, a non-GAAP measure is a numerical measure of a company’s financial performance, financial position or cash flows that exclude (or include) amounts that are included in (or excluded from) the most directly comparable measure calculated and presented in accordance with GAAP. We believe that the non-GAAP financial measures used herein provide helpful additional information about our operating results, performance trends and financial condition. Non-GAAP measures should not be considered a substitute for GAAP results and may not be comparable to similar measures used by other banking companies, among other limitations. Other companies may use the same or similar names for non-GAAP measures but may calculate them differently. As a result, caution should be used when comparing the Company's non-GAAP measures with those of other companies.

Investors are encouraged to review the reconciliation of non-GAAP financial measures used herein to their most directly comparable GAAP financial measures, which are presented in the tables below.

The following tables present non-GAAP financial measures management believes provide useful information for understanding the operating results of our core business and a better comparison of financial performance. Such measures include taxable equivalent adjustments, adjustments related to the sub debt redemption in the second quarter of 2026, adjustments related to the income tax benefit from the investment in renewable energy tax credits in the third quarter of 2026, tangible common equity and the associated financial measures.

Non-GAAP Financial Measures

	For the Three Months Ended										For the Nine Months Ended
	September 30,			June 30,				September 30,			September 30,
	2026			2026				2025			2026				2025
	(Dollars in thousands, except per share data)
Total Interest Income (taxable equivalent):
Total interest income on loans	$	40,568		$	38,562			$	38,334		$	116,235			$	112,288
Add: taxable equivalent adjustment for loans		91			69				22			188				66
Total interest income on loans (taxable equivalent)	$	40,659		$	38,631			$	38,356		$	116,423			$	112,354
Total interest income on investment securities	$	3,708		$	3,438			$	3,263		$	10,510			$	9,473
Add: taxable equivalent adjustment for investment securities		89			92				111			292				346
Total interest income on investment securities (taxable equivalent)	$	3,797		$	3,530			$	3,374		$	10,802			$	9,819
Total interest income on interest-earning cash		1,386			893				1,284			3,646				1,734
Total interest income (taxable equivalent)	$	45,842		$	43,054			$	43,014		$	130,871			$	123,907
Adjusted Interest Expense:
Interest expense	$	8,552		$	9,755			$	8,247		$	26,061			$	23,709
Less: accelerated accretion on sub debt redemption		—			(1,824	)			—			(1,824	)			(160	)
Adjusted interest expense	$	8,552		$	7,931			$	8,247		$	24,237			$	23,549
Net Interest Income (taxable equivalent):
Net interest income	$	37,110		$	33,138			$	34,634		$	104,330			$	99,786
Add: total taxable equivalent adjustment		180			161				133			480				412
Net interest income (taxable equivalent)	$	37,290		$	33,299			$	34,767		$	104,810			$	100,198
Adjusted Net Interest Income:
Net interest income	$	37,110		$	33,138			$	34,634		$	104,330			$	99,786
Add: accelerated accretion on sub debt redemption		—			1,824				—			1,824				160
Adjusted net interest income	$	37,110		$	34,962			$	34,634		$	106,154			$	99,946
Adjusted Net Interest Income (taxable equivalent):
Net interest income	$	37,110		$	33,138			$	34,634		$	104,330			$	99,786
Add: taxable equivalent adjustment		180			161				133			480				412
Add: accelerated accretion on sub debt redemption		—			1,824				—			1,824				160
Adjusted net interest income (taxable equivalent)	$	37,290		$	35,123			$	34,767		$	106,634			$	100,358
Average loans	$	2,300,973		$	2,233,133			$	2,109,593		$	2,237,480			$	2,096,800
Average investment securities	$	394,507		$	382,863			$	385,235		$	388,635			$	381,978
Average interest-earning assets	$	2,844,497		$	2,714,207			$	2,610,884		$	2,758,966			$	2,531,698
Average deposits and borrowed funds	$	2,580,596		$	2,459,749			$	2,388,059		$	2,501,857			$	2,318,172

Non-GAAP Financial Measures (Continued)	For the Three Months Ended												For the Nine Months Ended
	September 30,				June 30,				September 30,				September 30,
	2026				2026				2025				2026				2025
	(Dollars in thousands, except per share data)
Yield on loans		6.99	%			6.93	%			7.21	%			6.95	%			7.16	%
Yield on loans (taxable equivalent)		7.01	%			6.94	%			7.21	%			6.96	%			7.16	%
Yield on investments		3.73	%			3.60	%			3.36	%			3.62	%			3.32	%
Yield on investments (taxable equivalent)		3.82	%			3.70	%			3.47	%			3.72	%			3.44	%
Yield on interest-earning assets		6.37	%			6.34	%			6.52	%			6.32	%			6.52	%
Yield on interest-earning assets (taxable equivalent)		6.39	%			6.36	%			6.54	%			6.34	%			6.54	%
Net interest margin		5.18	%			4.90	%			5.26	%			5.06	%			5.27	%
Net interest margin (taxable equivalent)		5.20	%			4.92	%			5.28	%			5.08	%			5.29	%
Adjusted Net interest margin (taxable equivalent)		5.20	%			5.19	%			5.28	%			5.17	%			5.30	%
Cost of funds		1.31	%			1.59	%			1.37	%			1.39	%			1.37	%
Adjusted cost of funds		1.31	%			1.29	%			1.37	%			1.30	%			1.36	%
Adjusted Efficiency Ratio:
Noninterest expense	$	16,254			$	15,868			$	15,491			$	48,158			$	46,436
Noninterest income	$	1,303			$	1,176			$	1,285			$	5,189			$	3,683
Net interest income	$	37,110			$	33,138			$	34,634			$	104,330			$	99,786
Add: accelerated accretion on sub debt redemption		—				1,824				—				1,824				160
Adjusted net interest income	$	37,110			$	34,962			$	34,634			$	106,154			$	99,946
Efficiency ratio		42.31	%			46.24	%			43.13	%			43.97	%			44.88	%
Adjusted efficiency ratio		42.31	%			43.91	%			43.13	%			43.25	%			44.81	%
Adjusted Net Income and EPS:
Net income	$	16,740			$	12,161			$	12,061			$	43,888			$	36,657
Add: accelerated accretion on sub debt redemption		—				1,824				—				1,824				160
Less: tax adjustment for accelerated accretion on sub debt redemption (1)		—				(539	)			—				(539	)			(47	)
Less: renewable energy investment tax credit benefit		(920	)			—				—				(920	)			—
Adjusted net income	$	15,820			$	13,446			$	12,061			$	44,253			$	36,770
Basic weighted average common shares outstanding		10,380,906				10,369,791				10,489,496				10,369,257				10,505,896
Diluted weighted average common shares outstanding		10,542,098				10,507,662				10,601,694				10,513,013				10,617,773
Basic EPS	$	1.61			$	1.17			$	1.15			$	4.23			$	3.49
Diluted EPS	$	1.59			$	1.16			$	1.14			$	4.17			$	3.45
Adjusted basic EPS	$	1.52			$	1.29			$	1.15			$	4.27			$	3.50
Adjusted diluted EPS	$	1.50			$	1.28			$	1.14			$	4.21			$	3.46

Non-GAAP Financial Measures (Continued)	For the Three Months Ended												For the Nine Months Ended
	September 30,				June 30,				September 30,				September 30,
	2026				2026				2025				2026				2025
	(Dollars in thousands, except per share data)
Return on Average Tangible Equity:
Net income	$	16,740			$	12,161			$	12,061			$	43,888			$	36,657
Add: amortization of intangible assets		986				987				1,068				2,959				3,202
Less: tax adjustment (1)		(291	)			(292	)			(316	)			(875	)			(947	)
Net income, adjusted for amortization of intangibles	$	17,435			$	12,856			$	12,813			$	45,972			$	38,912
Net income	$	16,740			$	12,161			$	12,061			$	43,888			$	36,657
Add: accelerated accretion on sub debt redemption		—				1,824				—				1,824				160
Less: tax adjustment for accelerated accretion on sub debt redemption (1)		—				(539	)			—				(539	)			(47	)
Less: renewable energy investment tax credit benefit		(920	)			—				—				(920	)			—
Net income, adjusted for accelerated accretion on sub debt redemption and renewable energy tax credit investment benefit	$	15,820			$	13,446			$	12,061			$	44,253			$	36,770
Net income, adjusted for amortization of intangibles	$	17,435			$	12,856			$	12,813			$	45,972			$	38,912
Add: accelerated accretion on sub debt redemption		—				1,824				—				1,824				160
Less: tax adjustment for accelerated accretion on sub debt redemption(1)		—				(539	)			—				(539	)			(47	)
Less: renewable energy investment tax credit benefit		(920	)			—				—				(920	)			—
Net income, adjusted for amortization of intangibles, accelerated accretion on sub debt redemption, and renewable energy investment tax credit benefit	$	16,515			$	14,141			$	12,813			$	46,337			$	39,025
Average equity	$	404,098			$	395,954			$	363,685			$	395,289			$	352,907
Less: average intangible assets		(61,585	)			(62,579	)			(65,592	)			(62,568	)			(66,651	)
Average tangible equity	$	342,513			$	333,375			$	298,093			$	332,721			$	286,256
Return on average equity		16.44	%			12.32	%			13.16	%			14.84	%			13.89	%
Return on average equity, adjusted for accelerated accretion on sub debt redemption and renewable energy investment tax credit benefit		15.53	%			13.62	%			13.16	%			14.97	%			13.93	%
Return on average tangible equity		20.20	%			15.47	%			17.05	%			18.47	%			18.17	%
Return on average tangible equity, adjusted for accelerated accretion on sub debt redemption and renewable energy investment tax credit benefit		19.13	%			17.01	%			17.05	%			18.62	%			18.23	%
Adjusted Return on Average Assets:
Net income	$	16,740			$	12,161			$	12,061			$	43,888			$	36,657
Add: accelerated accretion on sub debt redemption		—				1,824				—				1,824				160
Less: tax adjustment for accelerated accretion on sub debt redemption (1)		—				(539	)			—				(539	)			(47	)
Less: renewable energy investment tax credit benefit		(920	)			—				—				(920	)			—
Net income, adjusted for accelerated accretion on sub debt redemption and renewable energy investment tax credit benefit	$	15,820			$	13,446			$	12,061			$	44,253			$	36,770
Average assets	$	3,011,804			$	2,879,579			$	2,772,657			$	2,921,726			$	2,693,855
Return on average assets		2.21	%			1.69	%			1.73	%			2.01	%			1.82	%
Adjusted return on average assets		2.08	%			1.87	%			1.73	%			2.03	%			1.82	%
(1) Adjusted by combined statutory federal income tax rate of 21 percent and statutory state income tax rate of 10.84 percent.

Non-GAAP Financial Measures (Continued)	As of or for the Three Months Ended
	September 30,				June 30,				September 30,
	2026				2026				2025
	(Dollars in thousands, except per share data)
Tangible Common Equity:
Total shareholders' equity	$	402,590			$	398,488			$	368,496
Less: goodwill and other intangibles		(60,953	)			(61,939	)			(64,903	)
Tangible common equity	$	341,637			$	336,549			$	303,593
Add: accelerated accretion on sub debt redemption		—				1,824				—
Less: tax adjustment (1)		—				(539	)			—
Adjusted tangible common equity (2)	$	341,637			$	337,834			$	303,593
Tangible book value per share	$	32.46			$	32.01			$	28.81
Adjusted tangible book value per share (2)	$	32.46			$	32.13			$	28.81
Tangible Assets:
Total assets	$	2,983,584			$	2,945,205			$	2,838,171
Less: goodwill and other intangibles		(60,953	)			(61,939	)			(64,903	)
Tangible assets	$	2,922,631			$	2,883,266			$	2,773,268
Total shareholders' equity to total assets		13.49	%			13.53	%			12.98	%
Tangible common equity ratio		11.69	%			11.67	%			10.95	%
(1) Adjusted by combined statutory federal income tax rate of 21 percent and statutory state income tax rate of 10.84 percent.
(2) Adjusted tangible common equity and adjusted tangible book value per share are presented to illustrate the effect of excluding the after-tax accelerated accretion associated with the completed subordinated-debt redemption. These measures do not represent Bancorp’s actual period-end equity or book value.

FAQ

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

What were West Coast Community Bancorp's third-quarter 2026 earnings?

West Coast Community Bancorp reported unaudited net income of $16.7 million and diluted EPS of $1.59 for the quarter ended September 30, 2026. Second-quarter net income was $12.2 million, with diluted EPS of $1.16.

How much is WCCB's increased dividend and when is it payable?

The quarterly cash dividend is $0.29 per common share, an increase of $0.04 from the previous quarterly dividend. Payment is scheduled on or about November 6, 2026, to shareholders of record as of November 2, 2026.

How did West Coast Community Bancorp's adjusted returns compare with the second quarter of 2026?

Excluding the third-quarter renewable-energy tax-credit benefit and second-quarter accelerated debt-redemption accretion, adjusted return on average assets rose to 2.08% from 1.87%. Adjusted return on average equity rose to 15.53% from 13.62%, and adjusted return on average tangible equity rose to 19.13% from 17.01%. These are non-GAAP measures.