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Get filing alertsWestamerica Bancorporation reports Q2 2026 net income of $27.4M, flat with Q1
Filed July 16, 2026 · Period ending July 16, 2026 · ~1 min read
Key Changes
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high
Q2 2026 net income of $27.4M matched Q1, while diluted EPS rose to $1.17 from $1.13 on a lower share count from buybacks; annualized return on average common equity was 11.3%.
Exhibit 99.1 view on EDGAR → -
high
Net interest income (FTE) held flat at $52.7M; yield on earning assets rose 3 basis points to 4.01% while cost of funds remained 0.24%, expanding net interest margin to 3.77% from 3.74%.
Exhibit 99.1 view on EDGAR → -
medium
Nonperforming assets declined to $808K from $1.4M at March 31; no provision for credit losses recorded in Q2 (vs. $300K reversal in Q1); allowance for credit losses on loans fell to $10.8M (1.61% of total loans).
Exhibit 99.1 view on EDGAR → -
medium
Company paid $0.48 per share dividend (up from $0.46 in Q2 2025) and repurchased 753K shares at an average price of $55.14, reducing shares outstanding to 23.0M from 23.6M.
Exhibit 99.1 view on EDGAR → -
low
Noninterest income rose to $10.3M from $9.6M on higher merchant processing and debit card fees plus unrealized gains on equity securities; noninterest expense edged up to $26.0M from $25.9M.
Exhibit 99.1 view on EDGAR →
Summary
Westamerica Bancorporation reported Q2 2026 net income of $27.4 million, unchanged from the prior quarter, while diluted EPS improved to $1.17 from $1.13 due to ongoing share repurchases. The company retired 753 thousand shares during the quarter at an average price of $55.14, reducing the outstanding count to 23.0 million.
Net interest income held steady at $52.7 million (FTE) as a 3-basis-point rise in earning asset yields to 4.01% offset stable funding costs of 0.24%, expanding the net interest margin to 3.77%. Credit quality remained strong, with nonperforming assets declining to $808 thousand from $1.4 million at March 31.
The company recorded no provision for credit losses in Q2, following a $300 thousand reversal in Q1, and the allowance for credit losses on loans stood at $10.8 million (1.61% of total loans). The company also raised its quarterly dividend to $0.48 per share from $0.46 in the year-ago quarter. For a retail holder, the results reflect stable profitability, disciplined capital return, and benign credit conditions, with the EPS gain driven entirely by the shrinking share count rather than earnings growth.
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Figures/quotes linked to EDGAR · Narrative written by AI · Jul 20, 2026 · How we verify