Welcome to our dedicated page for Westamerica Bancorporation SEC filings (Ticker: WABC), a comprehensive resource for investors and traders seeking official regulatory documents including 10-K annual reports, 10-Q quarterly earnings, 8-K material events, and insider trading forms.
Westamerica Bancorporation filings document the company’s public reporting as a California bank holding company with Nasdaq-listed common stock. Its Form 8-K reports cover quarterly results, dividends, share repurchase authorizations, director appointments and other material corporate events tied to Westamerica Bank’s commercial banking and trust operations in Northern and Central California.
Proxy materials and related meeting filings describe board elections, advisory executive-compensation votes, independent auditor ratification and shareholder voting outcomes. The filing record also includes disclosures on governance, capital returns, operating performance, credit-loss provisions, deposit funding, loan and securities portfolio economics and registered common-stock status.
Westamerica Bancorporation (WABC) Q2-25 10-Q highlights
- Earnings: Net income fell 18% YoY to $29.1 m; diluted EPS $1.12 vs $1.33. Six-month net income down 16% to $60.1 m; EPS $2.29.
- Revenue drivers: Interest & loan-fee income contracted 17% to $57.5 m, mainly from lower yields on the securities portfolio. Interest expense dropped 40% to $3.2 m, but could not offset the revenue decline; net interest income down 15% to $54.3 m.
- Credit quality: No provision booked in Q2; YTD allowance released $0.55 m. ACL stands at $13.8 m (1.84% of loans) vs $14.8 m year-end. Non-performing asset data not supplied, but charge-offs remain low.
- Balance sheet trends (6-30-25 vs 12-31-24):
- Total assets $5.83 bn (-4%).
- Loans $748 m (-9%); deposits $4.75 bn (-5%).
- Securities AFS+HTM $4.04 bn; unrealized AFS loss narrowed to $166.5 m from $239.5 m, improving AOCI by $51 m.
- Tangible equity rose to $921.8 m; CET1 not disclosed but capital strengthened by OCI recovery and buy-backs.
- Costs: Noninterest expense trimmed 2% YoY to $25.5 m; efficiency ratio ~41% (Rhea estimate).
- Capital actions: 1.1 m shares repurchased YTD (-4% share count) for $56.6 m; quarterly dividend raised to $0.46 (payout 41%).
- Liquidity: Cash & due from banks $626 m; repurchase agreements balance $101 m. No Bank Term Funding Program borrowings outstanding.
Takeaway: Core profitability weakened on declining asset yields and balance-sheet contraction, partly offset by expense control and lower funding costs. Improved OCI cushions capital, but continued loan & deposit runoff and still-material unrealized bond losses remain key watch points.