West Coast Community Bancorp authorizes up to $25M buyback
Sentiment and the balance of points
Rhea-AI Sentiment reads the wording of the document, how positive or negative its language is on a 1 to 5 scale. The balance of points shown with the takes weighs what the document actually discloses, so the two can disagree, for example when a trial that missed its main goal is described in upbeat language.
Form Type
8-K
Rhea-AI Filing Summary
West Coast Community Bancorp (WCCB) authorized a share repurchase program of up to $25 million of its common stock through open-market or privately negotiated transactions as market conditions warrant. The program expires December 31, 2028.
Repurchases are discretionary, and the authorization does not require the company to buy a specified number of shares. Timing, price and the number of shares repurchased depend on market conditions, the stock price, regulatory requirements and limitations, corporate liquidity requirements and priorities, and other factors. The company intends to use internal funds, supplemented as needed by a dividend from West Coast Community Bank. The program is subject to customary regulatory approvals or non-objections and may be suspended, terminated or modified at any time without notice.
8-K Event Classification
2 items: 8.01, 9.01
2 items
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, or exhibit attachments filed with this report.
Key Figures
Maximum repurchase authorization: Up to $25 million
Program expiration: December 31, 2028
2 metrics
Maximum repurchase authorization
Up to $25 million
Common stock repurchase program
Program expiration
December 31, 2028
Expiration date of the share repurchase program
Key Terms
Rule 10b-18, Rule 10b5-1, privately negotiated transactions, non-objections
4 terms
Rule 10b-18 regulatory
"including without limitation, Rules 10b-18 and 10b5-1"
Rule 10b-18 is a regulation that sets strict rules for how a company's executives and employees can buy back their own company's stock from the market. It helps ensure that these buybacks happen in a fair and transparent way, reducing the chance of market manipulation. This is important for investors because it offers protection against unfair practices and promotes confidence in the integrity of the stock market.
Rule 10b5-1 regulatory
"including without limitation, Rules 10b-18 and 10b5-1"
Rule 10b5-1 is a regulation that allows company insiders to buy or sell their shares at predetermined times, even if they have access to non-public information. It acts like setting a schedule in advance for transactions, helping prevent accusations of unfair trading. This rule provides a way for insiders to plan trades transparently, giving investors confidence that these transactions are not based on hidden information.
privately negotiated transactions financial
"open market or through privately negotiated transactions"
Privately negotiated transactions are deals made directly between parties without involving a public marketplace or open auction. They are like private sales between two individuals rather than items sold at a busy marketplace open to everyone. For investors, these transactions can offer more tailored terms and privacy, but they may also carry different risks and less transparency compared to public exchanges.
non-objections regulatory
"subject to customary regulatory approvals or non-objections"
FAQ
AI-generated questions and answers. How Rhea-AI works. Not financial advice.
How much stock did West Coast Community Bancorp (WCCB) authorize itself to repurchase?
The board authorized repurchases of up to $25 million of WCCB common stock through open-market or privately negotiated transactions as market conditions warrant. The authorization does not obligate WCCB to repurchase any specified number of shares.
AI-generated analysis. How Rhea-AI works. Not financial advice.
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): November 13, 2026
(Exact name of registrant as specified in its charter)
Commission File Number: 001-43470
| (State or other jurisdiction of incorporation or organization) | (I.R.S. Employer Identification No.) | ||||
(Address of principal executive offices, including zip code)
Registrant’s telephone number, including area code
N/A
(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 class | Trading Symbol | Name of each exchange on which registered | ||||||
| The 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 November 13, 2026, the Board of Directors of West Coast Community Bancorp (the “Company”), the parent company of West Coast Community Bank, authorized a new share repurchase program to repurchase up to $25 million of the Company’s common stock in the open market or through privately negotiated transactions, as market conditions warrant. The program does not obligate the Company to repurchase any number of specified shares. The timing and price of repurchases as well as the actual number of shares repurchased under the program will be at the discretion of the Company, and will depend on a variety of factors, including general market conditions, the Company’s stock price, regulatory requirements and limitations, and corporate liquidity requirements and priorities and other factors. The share repurchase program expires December 31, 2028. The Company intends to fund repurchases from its presently held internal funds, supplemented as needed by a dividend from West Coast Community Bank, and to execute repurchases in compliance with applicable federal and state securities laws and bank regulations, including without limitation, Rules 10b-18 and 10b5-1 promulgated under the Securities and Exchange Act of 1934, as amended. The stock repurchase program may be suspended, terminated or modified any time without notice. The program is subject to customary regulatory approvals or non-objections. A copy of the November 13, 2026 press release announcing the share repurchase program is filed as Exhibit 99.1 and is incorporated herein by reference.
Item 9.01 Financial Statements and Exhibits.
(d) Exhibits
| Exhibit No. | Description | |||||||
| 99.1 | Press Release dated November 13, 2026 | |||||||
| 104 | Cover Page Interactive Data File (embedded within the Inline XBRL document). | |||||||
SIGNATURES
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.
| Date: November 13, 2026 | ||||||||
| West Coast Community Bancorp | ||||||||
| By: | /s/ Cecilia Situ | |||||||
| Name: | Cecilia Situ | |||||||
| Title: | Executive Vice President and Chief Financial Officer | |||||||
West Coast Community Bancorp Announces Share Repurchase Program
SANTA CRUZ, Calif., Nov. 13, 2026 (GLOBE NEWSWIRE) -- The Board of Directors of West Coast Community Bancorp (the “Company”) (Nasdaq: WCCB), the parent company of West Coast Community Bank, announced the approval of a new share repurchase program. Under the share repurchase program, the Company is authorized to repurchase up to $25 million of the Company’s common stock in the open market or through privately negotiated transactions as market conditions warrant. The program does not obligate the Company to repurchase any specified number of shares.
The timing and price of repurchases as well as the actual number of shares repurchased under the program will be at the discretion of the Company and will depend on a variety of factors, including general market conditions, the stock price, regulatory requirements and limitations, corporate liquidity requirements and priorities and other factors. The share repurchase program expires December 31, 2028.
“This share repurchase program reflects our confidence in the strength of our balance sheet and the long-term value of our Company,” said Krista Snelling, Chairman and Chief Executive Officer of West Coast Community Bancorp. “The program represents a disciplined and strategic use of capital, reinforcing our commitment to enhancing shareholder value while maintaining flexibility to invest in future growth.”
The Company intends to fund repurchases from its presently held internal funds, supplemented as needed by a dividend from West Coast Community Bank, and to execute repurchases in compliance with applicable federal and state securities laws and bank regulations, including without limitation, Rules 10b-18 and 10b5-1 promulgated under the Securities and Exchange Act of 1934, as amended. The stock repurchase program may be suspended, terminated or modified any time without notice. The program is subject to customary regulatory approvals or non-objections.
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. True to its community roots, West Coast Community Bank supports regional well-being by actively participating in and donating to local nonprofit organizations. Visit www.wccb.com for more information.
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. These forward-looking statements include, without limitation, statements related to terms, timing, logistics and conditions of the Company’s share repurchase program, the Company’s utilization of the share repurchase program, and the Company’s compliance with applicable federal and state securities laws and bank regulations in connection with the administration of the share repurchase program. 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.
MEDIA CONTACTS
Krista Snelling, Chairman and Chief Executive Officer
Cecilia Situ, Executive Vice President and Chief Financial Officer
investorrelations@wccb.com
###