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Dividend up as Westamerica Bancorporation (NASDAQ: WABC) posts Q1 profit

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(Very High)
Filing Sentiment
(Neutral)
Form Type
8-K

Rhea-AI Filing Summary

Westamerica Bancorporation announced that its Board of Directors increased the quarterly cash dividend to $0.48 per share, a $0.02 per share increase from the prior quarter. The dividend will be paid on May 15, 2026 to shareholders of record as of May 4, 2026.

Management linked the higher dividend to Westamerica’s reliable earnings, financial strength and conservative risk profile. The company recently reported $27.4 million in net income for the three months ended March 31, 2026, or $1.13 in diluted earnings per common share.

Positive

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Negative

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Item 8.01 Other Events Other
Voluntary disclosure of events the company deems important to shareholders but not covered by other items.
Item 9.01 Financial Statements and Exhibits Exhibits
Financial statements, pro forma financial information, and exhibit attachments filed with this report.
Quarterly cash dividend $0.48 per share Declared April 23, 2026 on common stock
Dividend increase $0.02 per share Increase from prior quarter’s dividend
Record date May 4, 2026 Shareholders of record receive $0.48 dividend
Dividend payment date May 15, 2026 Scheduled payment of quarterly cash dividend
Net income $27.4 million Three months ended March 31, 2026
Diluted EPS $1.13 per share Three months ended March 31, 2026
quarterly cash dividend financial
"The Board of Directors ... declared a quarterly cash dividend of $0.48 per share"
A quarterly cash dividend is a payment made by a company to its shareholders four times a year, usually based on its profits. It is like a regular bonus or reward for owning the company's stock, providing shareholders with income. Many investors see these payments as a sign of the company's stability and its ability to generate consistent profits.
diluted earnings per common share financial
"reported $27.4 million in net income ... or $1.13 diluted earnings per common share"
Diluted earnings per common share measures a company’s profit allocated to each share assuming all potential shares that could be created — like employee stock options, warrants, or convertible debt — are exercised or converted. Think of a pie split among current and possible future diners: it shows a more conservative slice size each shareholder would get if all claims became shares, helping investors compare profitability on a worst‑case dilution basis.
forward-looking statements regulatory
"This press release may contain forward-looking statements about the Company"
Forward-looking statements are predictions or plans that companies share about what they expect to happen in the future, like estimating sales or profits. They matter because they help investors understand a company's outlook, but since they are based on guesses and assumptions, they can sometimes be wrong.
Private Securities Litigation Reform Act of 1995 regulatory
"The following appears in accordance with the Private Securities Litigation Reform Act of 1995"
financial strength financial
"recognizes Westamerica’s reliable earnings stream, financial strength and conservative risk profile"
Understanding 8-K Material Events →
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UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

_________________

FORM 8-K

_________________

CURRENT REPORT

Pursuant to Section 13 or 15(d)
of the Securities Exchange Act of 1934

Date of Report (Date of earliest event reported):  April 23, 2026

_______________________________

WESTAMERICA BANCORPORATION

(Exact name of registrant as specified in its charter)

_______________________________

California001-0938394-2156203
(State or Other Jurisdiction of Incorporation)(Commission File Number)(I.R.S. Employer Identification No.)

1108 Fifth Avenue

San Rafael, California 94901

(Address of Principal Executive Offices) (Zip Code)

(707) 863-6000

(Registrant's telephone number, including area code)

Not Applicable

(Former name or former address, if changed since last report)

_______________________________

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

☐Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
☐Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
☐Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
☐Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:

Title of each classTrading Symbol(s)Name of each exchange on which registered
Common Stock, no par valueWABCThe Nasdaq Stock Market, LLC

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

Emerging growth company ☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

 
 
Item 8.01. Other Events.

 

On April 23, 2026, the Registrant issued a press release, a copy of which is attached hereto as Exhibit 99.1 and is incorporated herein by reference.

 

Item 9.01. Financial Statements and Exhibits.
   
99.1 Press Release dated April 23, 2026
104 Cover Page Interactive Data File (embedded within the Inline XBRL document)
 
 

 

SIGNATURE

 

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

 

 WESTAMERICA BANCORPORATION
   
  
Date: April 23, 2026By: /s/ Anela Jonas        
  Anela Jonas
  Senior Vice President and Chief Financial Officer
  

 

EXHIBIT 99.1

Westamerica Bancorporation Increases Quarterly Cash Dividend

SAN RAFAEL, Calif., April 23, 2026 (GLOBE NEWSWIRE) -- The Board of Directors of Westamerica Bancorporation (NASDAQ: WABC) today declared a quarterly cash dividend of $0.48 per share, which represents a two cent per share increase from the prior quarter, on common stock outstanding to shareholders of record at the close of business May 4, 2026. The dividend is payable May 15, 2026.

Chairman, President and CEO David Payne stated, “This increase in the quarterly dividend recognizes Westamerica’s reliable earnings stream, financial strength and conservative risk profile.”

On April 16, 2026, Westamerica reported $27.4 million in net income for the three months ended March 31, 2026, or $1.13 diluted earnings per common share.

Westamerica Bancorporation, through its wholly owned subsidiary, Westamerica Bank, operates banking and trust offices throughout Northern and Central California.

Westamerica Bancorporation Web Address: www.westamerica.com

For additional information contact:
Westamerica Bancorporation
1108 Fifth Avenue, San Rafael, CA 94901
Robert A. Thorson – 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 September 30, 2025 filed on Form 10-Q, describe some of these factors, including certain credit, interest rate, operational, liquidity and market risks associated with the Company's business and operations. Other factors described in these reports include changes in business and economic conditions, competition, fiscal and monetary policies, disintermediation, cyber security risks, legislation including the Dodd-Frank Wall Street Reform and Consumer Protection Act of 2010, the Sarbanes-Oxley Act of 2002 and the Gramm-Leach-Bliley Act of 1999, and mergers and acquisitions.

Forward-looking statements speak only as of the date they are made. The Company does not undertake to update forward-looking statements to reflect circumstances or events that occur after the date forward looking statements are made.

Source: View Original Filing on SEC EDGAR

FAQ

What dividend did Westamerica Bancorporation (WABC) just declare?

Westamerica Bancorporation declared a quarterly cash dividend of $0.48 per share. This is a $0.02 per share increase from the prior quarter, reflecting the Board’s confidence in the bank’s earnings, financial strength and conservative risk profile.

When is the record date and payment date for WABC’s new dividend?

The record date for Westamerica Bancorporation’s $0.48 quarterly dividend is May 4, 2026. The dividend is scheduled to be paid on May 15, 2026 to shareholders who are on record at the close of business on the record date.

How much net income did Westamerica Bancorporation (WABC) earn in Q1 2026?

For the three months ended March 31, 2026, Westamerica Bancorporation reported $27.4 million in net income. This quarterly performance supports the company’s decision to raise its dividend and underscores its stated focus on reliable earnings and financial strength.

What were Westamerica Bancorporation’s Q1 2026 earnings per share?

Westamerica Bancorporation reported $1.13 diluted earnings per common share for the three months ended March 31, 2026. This earnings level, alongside total net income of $27.4 million, was cited as part of the rationale for increasing the quarterly cash dividend.

Why did Westamerica Bancorporation say it increased its dividend?

Chairman, President and CEO David Payne said the dividend increase recognizes Westamerica’s reliable earnings stream, financial strength and conservative risk profile. The company highlighted its recent net income and earnings per share as context for the higher quarterly cash dividend.

Where does Westamerica Bancorporation (WABC) primarily operate its banking business?

Westamerica Bancorporation, through its wholly owned subsidiary Westamerica Bank, operates banking and trust offices throughout Northern and Central California. This regional footprint supports its community banking model and underpins the financial results referenced in the dividend announcement.

Filing Exhibits & Attachments

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