Quarterly ResultMay 8, 2026, 01:57 PM
WESTAMERICA Bancorp Q1 Net Income $27.36M, EPS $1.13
AI Summary
WESTAMERICA Bancorporation reported a decline in its first-quarter 2026 financial results, with net income falling to $27.36 million and basic earnings per share decreasing to $1.13. The company also saw a reduction in total assets and deposits, alongside a drop in net interest and fee income compared to the prior year. Despite the overall financial downturn, the company increased its quarterly dividend per share and continued with common stock retirements, while accumulated other comprehensive loss widened.
Key Highlights
- Net income for Q1 2026 was $27.36 million, down 11.86% from $31.04 million in Q1 2025.
- Basic earnings per share was $1.13 for Q1 2026, a decrease from $1.16 in Q1 2025.
- Total assets decreased to $5.86 billion at March 31, 2026, from $5.96 billion at December 31, 2025.
- Total deposits were $4.78 billion at March 31, 2026, down from $4.84 billion at December 31, 2025.
- Net interest and fee income for Q1 2026 was $52.48 million, a 6.5% decline from $56.10 million in Q1 2025.
- Dividends paid increased to $0.46 per share in Q1 2026, up from $0.44 per share in Q1 2025.
- The company retired $51.00 million in common stock during Q1 2026.
- Accumulated other comprehensive loss widened to $(107.27) million at March 31, 2026.