WESTAMERICA BANCORPORATION

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.

Westamerica Bancorporation announced that its Board of Directors approved an increase of 2,000,000 shares to its existing stock repurchase plan authorization. This expansion brings the total shares remaining under the plan to 2,785,023, which constitutes 11.8% of the company's outstanding common stock as of March 31, 2026. The company stated that this increase reflects its financial strength and commitment to managing shareholder capital, with repurchases to occur as conditions warrant prior to December 31, 2026.

Westamerica Bancorporation announced that it issued a press release on April 23, 2026. This press release, which contains further details regarding an "Other Event" under Item 8.01, is incorporated by reference as Exhibit 99.1 to this Form 8-K filing. The filing itself does not disclose the specific content of the press release.

Westamerica Bancorporation's Board of Directors declared a quarterly cash dividend of $0.48 per share, marking a two-cent increase from the previous quarter. The dividend is payable on May 15, 2026, to shareholders of record as of May 4, 2026. Chairman, President, and CEO David Payne attributed the increase to the company's consistent earnings, strong financial position, and prudent risk management. This follows the company's recent report of $27.4 million in net income for the first quarter of 2026.

WESTAMERICA BANCORPORATION announced its results of operations and financial condition by issuing a press release on April 16, 2026. The press release, which contains the detailed financial information, is furnished as Exhibit 99.1 to the current report on Form 8-K and is incorporated by reference.

Westamerica Bancorporation reported Q1 2026 net income of $27.4 million and diluted EPS of $1.13, a slight increase from $1.12 in Q4 2025. The results include a $300 thousand reversal of provision for credit losses. The company emphasized its strong low-cost deposit base, controlled operating expenses, and stable credit quality. Shareholders received a $0.46 per common share dividend, and 997 thousand shares were retired through the share repurchase plan.

Westamerica Bancorporation announced the appointment of Carter Welch to its Board of Directors. Mr. Welch brings nearly 40 years of leadership experience in financial services, consumer products, technology, manufacturing, and professional services, with a strong background in strategy and growth. He will also join the Audit and Loan & Investment committees, providing valuable expertise in risk-informed decision-making for long-term growth.