Here are the 10-K annual reports from Westamerica Bancorporation (WABC) in our archive since June 2025, newest first, and each one links through to the document itself with the summary and the scores our analysis gives it.
A 10-K covers the audited annual report, with the full financial statements, so if you follow WABC and want that one kind of document rather than the whole filing history, this is the page to keep. The company's other filings, of every form, are on the full WABC filings page.
Westamerica Bancorporation reported 2025 net income of $116.2 million, down from $138.6 million in 2024 and $161.8 million in 2023, equal to $4.52 diluted EPS. Return on assets was 1.91% and return on common equity 11.23%, reflecting still-solid profitability.
Net interest and loan fee income fell to $217.3 million as the fully taxable equivalent net interest margin compressed to 3.82%. Noninterest expense was tightly managed at $101.9 million, producing an efficiency ratio of 39.3%. Results included a small $550 thousand reversal of credit loss provision and $208 thousand in bank-owned life insurance gains.
Total assets were $6.0 billion at December 31, 2025, with loans of $726.5 million, deposits of $4.84 billion and shareholders’ equity of $933.5 million. Capital remained strong, with a total risk-based capital ratio of 23.05% and tangible equity to tangible assets of 13.90%. The company paid $1.82 in common dividends per share, a 40% payout ratio, and continued buybacks, repurchasing 485 thousand shares in Q4 2025 at an average price of $48.13 under authorizations for up to 2 million shares.
Management highlights key risks including interest-rate sensitivity, concentrated operations in California real estate markets, securities valuation volatility, potential higher FDIC insurance costs, climate-related physical and transition risks, and cybersecurity threats. The company reports no material cybersecurity incidents in 2025 and emphasizes strong regulatory capital, detailed credit risk management, and an NIST-based information security program.