The EPS beat and stable NIM expansion in a declining rate environment are positive for a regional bank. Watch for continued share repurchase execution and deposit cost trends — the 0.26% cost of funds remains exceptionally low, supporting margin stability.
Price Chart
Executive Summary
Westamerica Bancorporation reported Q3 2026 EPS of $1.22, beating the $1.17 consensus by 4.3%, on net income of $28.2M. Net interest margin expanded 4bp sequentially to 3.81%, credit quality remained pristine with near-zero nonperforming assets, and the company continued its share repurchase program, retiring 51K shares. The beat was driven by higher net interest income and a one-time merchant processing termination fee, though total revenue (FTE) was essentially flat YoY.
Key Financial Metrics
Key Facts
- Q3 2026 diluted EPS $1.22 vs consensus $1.17 (4.3% beat)
- Net income $28.2M, flat vs $28.3M YoY but up 2.8% QoQ from $27.4M
- Net interest margin (FTE) 3.81%, up 4bp QoQ from 3.77%
- Nonperforming assets just $476K, or 0.07% of total loans
- No provision for credit losses in Q3 2026
- Retired 51K common shares at avg price $57.92 during the quarter
- Dividend maintained at $0.48 per share, payout ratio 39%
- Efficiency ratio (FTE) improved to 40.8% from 41.3% QoQ
Financial Impact
EPS beat of $0.05 (4.3%) vs consensus; net interest margin expansion of 4bp; share count reduction of 51K shares retired
Risk Factors
- Loan portfolio continues to shrink (-11.1% YoY average loans), pressuring future interest income
- Consumer loans declined 30.5% YoY, indicating potential runoff in higher-yielding segments
- YTD net income down 6.2% YoY, suggesting underlying earnings pressure beyond the quarterly beat
Investment Themes
Documents Analyzed
This report is based on 1 press release from GlobeNewswire.
| Document | Accession Number |
|---|---|
| PRESS-RELEASE Data (Synthetic) | press-3381877 |
Track record builds as more directional reports settle.
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
Subscribe to SecBot
Get Real-Time SEC Filing Intelligence
Comprehensive SEC filing analysis delivered the moment filings hit EDGAR. Sentiment scoring, impact analysis, and actionable insights for every material event.
Create a free account Live analysis, Telegram alerts, watchlists and the MCP server for subscribers