With EPS exactly in line and no guidance provided, expect limited stock reaction. Monitor the trajectory of net interest margin and loan growth in coming quarters for signs of inflection.
Price Chart
Executive Summary
Westamerica Bancorporation reported Q3 2026 EPS of $1.22, exactly in line with consensus estimates, on net income of $28.2 million. Net interest margin improved 4 bps sequentially to 3.81%, but total revenue (FTE) was essentially flat YoY at $64.2M, and net income declined 0.4% YoY. The sequential improvement in NIM and stable credit quality are modest positives, but the lack of revenue growth and YoY earnings decline keep the report neutral.
Key Financial Metrics
Key Facts
- Q3 2026 diluted EPS of $1.22, in line with consensus of $1.22
- Net income of $28.2M, down 0.4% YoY from $28.3M
- Net interest margin (FTE) of 3.81%, up 4 bps sequentially from 3.77%
- Total revenue (FTE) of $64.2M, up 0.4% YoY
- Nonperforming assets fell to $476K, down 82% YoY
- Company retired 51K shares in Q3 at avg price of $57.92
- Dividend maintained at $0.48 per share
Financial Impact
Q3 net income $28.2M vs $28.3M YoY; EPS flat vs consensus at $1.22
Risk Factors
- Loan portfolio continues to shrink (down 11.1% YoY average volume), pressuring future interest income
- Cost of funds increased to 0.26% from 0.24% in Q2, potentially compressing NIM if deposit costs rise further
- Shareholders' equity declined 15.2% YoY due to AOCI losses from higher rates
Investment Themes
Documents Analyzed
This report is based on 6 SEC documents filed with EDGAR.
| Document | Accession Number |
|---|---|
| 8-K Filing (Primary) | 0001171843-26-006660 |
| Document: f8k_101526.htm | 0001171843-26-006660 |
| Document: 0001171843-26-006660-index-headers.html | 0001171843-26-006660 |
| Document: 0001171843-26-006660-index.html | 0001171843-26-006660 |
| Document: 0001171843-26-006660.txt | 0001171843-26-006660 |
| 8-K Data (Synthetic) | 0001171843-26-006660 |
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Oct 22, 2026 4d ago | 8-K | $61.92 | awaiting T+5 | — | $61.88 (−0.06%) |
Oct 22, 2026 4d ago | Press Release | $61.92 | awaiting T+5 | — | $61.88 (−0.06%) |
Oct 15, 2026 11d ago | 8-K | $60.90 $61.92 | ▲ +1.67% | ▲ +2.69% | $61.88 (+1.61%) |
Oct 15, 2026 11d ago | Press Release | $60.90 $61.92 | ▲ +1.67% | ▲ +2.69% | $61.88 (+1.61%) |
Jul 23, 2026 13w ago | 8-K | $60.31 $59.90 | ▼ −0.68% | ▼ −1.16% | $61.88 (+2.60%) |
Jul 23, 2026 13w ago | Press Release | $60.31 $59.90 | ▼ −0.68% | ▼ −1.16% | $61.88 (+2.60%) |
Jul 16, 2026 14w ago | 8-K | $62.46 $60.31 | ▼ −3.44% | ▼ −1.77% | $61.88 (−0.93%) |
Jul 16, 2026 14w ago | Press Release | $62.46 $60.31 | ▼ −3.44% | ▼ −1.77% | $61.88 (−0.93%) |
Apr 24, 2026 26w ago | 8-K | $54.41 $54.25 | ▼ −0.30% | ▼ −0.70% | $61.88 (+13.72%) |
Apr 24, 2026 26w ago | Press Release | $54.54 $54.82 | ▲ +0.51% | ▼ −0.40% | $61.88 (+13.45%) |
US Market Status
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