WABC earnings analysis
What we found in WABC's 10-Q: the parts that mattered, the offsets in the same document, and what the company said about what comes next.
Our reading of the filing · Free to read, no account needed
Westamerica Bancorporation's Q1 2026 results show a slight decline in revenues compared to the prior year and quarter, with total revenue at $62.3 million, down from $70 million in Q1 2025 and $67 million in Q4 2025. Earnings per share increased slightly to $1.13 from $1.12 in the previous quarter, reflecting a modest EPS surprise of 5.6%. Management continues to face challenges from lower net interest income and noninterest income, while controlling expenses and maintaining a strong capital position.
The parts that mattered.
Pulled out of the filing itself, with the figures the company reported.
- Revenue Surpassed Expectations
- Q1 2026 revenue was $62.3 million, above the consensus estimate of $60.7 million.
- Gross Margin Stability
- Gross margin for Q1 2026 remained strong at 92.9%, consistent with the previous period.
- Earnings per Share Increase
- Diluted EPS for Q1 2026 was $1.13, up from $1.12 in Q4 2025.
- Net Income Comparable to Prior Year
- Net income for the first quarter was $27.4 million, not far from $27.8 million in Q4 2025.
- Higher Capital Ratios Maintained
- Total capital ratio stood at 22.11% as of March 31, 2026, exceeding regulatory requirements.
- Strong Shareholder Returns
- Dividends paid per common share increased to $0.46, consistent with prior periods.
And the other side of it.
The offsets in the same document — the things a summary that only listed the good news would have left out.
- Decline in Noninterest Income
- Noninterest income fell to $9.6 million, down from $10 million in Q1 2025 due to lower debit card fees.
- Increased Noninterest Expenses
- Total noninterest expenses rose to $25.9 million, up from $25.5 million in Q4 2025.
- Decrease in Loan Balances
- Loans decreased to $696 million from $727 million in Q1 2025, impacting interest income.
What they reported.
What the company itself reported, taken out of the document.
- Earnings per share
- $1.13
- Gross margin
- 92.9%
What they said about what is next.
Management has not provided specific numerical guidance for future earnings or revenue, citing market uncertainties.
The filing reads about the same as the one before it.
This is our reading of a public filing, not the filing. Read the original on SEC.gov · Educational only. Nothing here is investment advice.
Read the next one first.
We read every filing WABC makes the day it lands, and put it next to what the options market did about it. Members get both, and an alert when a filing arrives.
Cancel anytime · Month to month · Switch tiers whenever