Westamerica Bancorporation reports $28.2 million third-quarter income

• Westamerica Bancorporation reported third-quarter 2026 net income of $28.2 million, representing a 0.4 percent year-over-year decline.
• The bank increased its diluted earnings per share to $1.22, with the stock trading up at $60.52.
• The company cited an improved net interest margin and a one-time termination fee as key operational drivers.

Westamerica Bancorporation (NASDAQ:WABC) reported third-quarter 2026 net income of $28.2 million, representing a 0.4 percent year-over-year decline.

This financial result compared to a sequential increase from the second quarter, as diluted earnings per share rose to $1.22.

The bank reported $53.5 million in taxable-equivalent net interest income as its annualized net interest margin rose to 3.81 percent.

Noninterest income reached $10.7 million, partly reflecting a one-time merchant processing termination fee, while noninterest expenses totaled $26.2 million.

The bank expects its improved margin to support operations.

Average loans fell 11.1 percent year over year during the quarter, while average deposits increased by 0.2 percent.

Nine-month net income fell 6.2 percent even as diluted earnings per share increased 3.5 percent over the same timeframe.