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Westamerica Bancorporation

Westamerica Bancorporation

NASDAQ•WABC
CEO: Mr. David L. Payne
Sector: Financial Services
Industry: Banks - Regional
Listing Date: 1980-03-17
Westamerica Bancorporation operates as a bank holding company for the Westamerica Bank that provides various banking products and services to individual and commercial customers. The company accepts various deposit products, including retail savings and checking accounts, as well as certificates of deposit. Its loan portfolio includes commercial, commercial and residential real estate, real estate construction, and consumer installment loans, as well as indirect automobile loans. The company was formerly known as Independent Bankshares Corporation and changed its name to Westamerica Bancorporation in 1983. The company was founded in 1884 and is headquartered in San Rafael, California.
Contact Information
1108 Fifth Avenue, San Rafael, CA, 94901, United States
707-863-6000
www.westamerica.com
Market Cap
$1.22B
P/E (TTM)
10.3
14.8
Dividend Yield
3.7%
52W High
$56.49
52W Low
$42.00
52W Range
48%
Rank23Top 6.9%
6.2
F-Score
Modified Piotroski Analysis
Based on 10-year fundamentals
Strong • 6.2 / 9 points
Scoring Range (0-9)
8-9: Excellent Value
6-7: Strong Fundamentals
4-5: Average Quality
0-3: Weak Performance
Data Period: 2015-2024

Financial Dashboard

Q3 2025 Data

Revenue

$67.46M-15.38%
4-Quarter Trend

EPS

$1.12-14.50%
4-Quarter Trend

FCF

$28.73M-28.28%
4-Quarter Trend

2025 Q3 Earnings Highlights

Key Highlights

Net Income Declines Q3 Net Income for Q3 2025 was $28.3M, down from $35.1M in Q3 2024, primarily due to reduced net interest income performance.
NIM Compression Noted Annualized Net Interest Margin (FTE) compressed to 3.80% for the quarter, down from 4.08% year-over-year, driven by lower asset yields.
Credit Provision Reversal The Company recorded a $0.55M reversal of provision for credit losses YTD, reflecting improved CECL model estimates over the loan portfolio.
Strong Capital Ratios Maintained Common Equity Tier 1 Capital ratio remains strong at 23.00% (Company basis), significantly exceeding minimum regulatory requirements.

Risk Factors

Interest Rate Environment Pressure NIM compressed 28 basis points annualized due to lower asset yields and changes in the overnight federal funds rate environment.
Rising Nonaccrual Loans Nonperforming nonaccrual loans increased to $1.62M as of September 30, 2025, up from $0.25M at year-end 2024.
Increased Funding Costs Total interest expense increased significantly Q/Q, driven by higher rates paid on interest-bearing deposits and borrowings.
Economic Uncertainty Remains Management highlights ongoing concerns regarding inflation, Federal Reserve policy, and potential volatility in capital markets.

Outlook

NIM Outlook Challenging Expect continued pressure on Net Interest Margin due to ongoing competition for deposit rates and current interest rate levels.
Loan Quality Monitoring Management continues aggressive pursuit of collection efforts and conservative underwriting for classified and nonaccrual loans.
Capital Distribution Plans The Bank expects to maintain quarterly dividend payments, subject to ongoing evaluation of capital levels and earnings performance.
Regulatory Accounting Updates The Company is currently evaluating the potential impact of recently issued accounting standards on future disclosures.

Peer Comparison

Revenue (TTM)

Cullen/Frost Bankers, Inc.CFR
$2.90B
+2.8%
OceanFirst Financial Corp.OCFC
$673.23M
-2.2%
Byline Bancorp, Inc.BY
$623.98M
-88.5%

Gross Margin (Latest Quarter)

OceanFirst Financial Corp.OCFC
95.7%
+41.3pp
Westamerica BancorporationWABC
94.6%
+1.7pp
FirstSun Capital BancorpFSUN
65.9%
-0.2pp

Key Metrics

Symbol
Market Cap
P/E (TTM)
ROE (TTM)
Debt to Assets
CFR$8.30B13.015.3%9.7%
QCRH$1.46B12.011.7%0.0%
BY$1.41B11.110.8%5.9%

Long-Term Trends

Last 4 Quarters
Revenue
Net Income
Operating Cash Flow
4Q Revenue CAGR
-2.6%
Flat Growth
4Q Net Income CAGR
-3.8%
Stable Profitability
Cash Flow Stability
100%
Strong Cash Flow

Research & Insights

Next earnings:Jan 15, 2026
|
EPS:$1.07
|
Revenue:$61.90M
Reports
All Years

  • Form 10-Q - Q3 2025

    Period End: Sep 30, 2025|Filed: Nov 7, 2025|
    Revenue: $67.46M-15.4%
    |
    EPS: $1.12-14.5%
    Beat

  • Form 10-Q - Q2 2025

    Period End: Jun 30, 2025|Filed: Aug 6, 2025|
    Revenue: $67.78M-14.8%
    |
    EPS: $1.12-15.8%
    Beat

  • Form 10-Q - Q1 2025

    Period End: Mar 31, 2025|Filed: May 9, 2025|
    Revenue: $69.81M-11.5%
    |
    EPS: $1.17-14.6%
    Beat

  • Form 10-K - FY 2024

    Period End: Dec 31, 2024|Filed: Feb 28, 2025|
    Revenue: $311.17M-5.0%
    |
    EPS: $5.20-14.2%
    Beat

  • Form 10-Q - Q3 2024

    Period End: Sep 30, 2024|Filed: Nov 8, 2024|
    Revenue: $79.72M-5.2%
    |
    EPS: $1.31-16.0%
    Beat

  • Form 10-Q - Q2 2024

    Period End: Jun 30, 2024|Filed: Aug 8, 2024|
    Revenue: $79.57M-2.0%
    |
    EPS: $1.33-11.9%
    Meet

  • Form 10-Q - Q1 2024

    Period End: Mar 31, 2024|Filed: May 9, 2024|
    Revenue: $78.84M-1.7%
    |
    EPS: $1.37-9.3%
    Meet

  • Form 10-K - FY 2023

    Period End: Dec 31, 2023|Filed: Feb 29, 2024|
    Revenue: $327.54M+22.7%
    |
    EPS: $6.06+33.5%
    Beat