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WABC

Westamerica Bancorporation

WABC

Westamerica Bancorporation • NASDAQ
$47.98 ▼ -0.85% (-0.41)
Market Cap $1.20 B
52w High $57.65
52w Low $42.00
Dividend Yield 1.82%
P/E 10.45
Volume 46.33K
Outstanding Shares 24.93M

Income Statement

Period Revenue Operating Expense Net Income Net Profit Margin Earnings Per Share EBITDA
Q3-2025 $67.457M ▼ $25.8M ▲ $28.263M ▼ 41.898% ▼ $1.12 $37.94M ▼
Q2-2025 $67.782M ▼ $25.529M ▲ $29.066M ▼ 42.882% ▼ $1.12 ▼ $41.276M ▼
Q1-2025 $69.812M ▼ $25.127M ▼ $31.037M ▼ 44.458% ▲ $1.17 ▼ $43.848M ▼
Q4-2024 $73.035M ▼ $25.853M ▼ $31.7M ▼ 43.404% ▼ $1.19 ▼ $45.883M ▼
Q3-2024 $79.719M $26.309M $35.057M 43.976% $1.31 $50.186M

Balance Statement

Period Cash & Short-term Total Assets Total Liabilities Total Equity
Q3-2025 $1.977B ▲ $5.914B ▲ $4.983B ▲ $931.646M ▲
Q2-2025 $1.85B ▼ $5.825B ▼ $4.903B ▼ $921.783M ▼
Q1-2025 $1.902B ▼ $5.967B ▼ $5.043B ▼ $923.138M ▲
Q4-2024 $1.94B ▼ $6.076B ▼ $5.186B ▼ $889.957M ▼
Q3-2024 $3.005B $6.161B $5.252B $909.04M

Cash Flow Statement

Period Net Income Cash From Operations Cash From Investing Cash From Financing Net Change Free Cash Flow
Q3-2025 $28.263M ▼ $29.418M ▲ $-39.468M ▼ $42.881M ▲ $32.831M ▲ $28.732M ▲
Q2-2025 $29.066M ▼ $23.517M ▼ $64.52M ▼ $-188.936M ▼ $-100.899M ▼ $22.782M ▼
Q1-2025 $31.037M ▼ $42.394M ▲ $258.283M ▲ $-174.835M ▼ $125.842M ▲ $42.195M ▲
Q4-2024 $31.7M ▼ $29.773M ▼ $144.826M ▼ $-76.05M ▲ $98.549M ▲ $29.106M ▼
Q3-2024 $35.057M $40.553M $221.985M $-245.717M $16.821M $40.059M

Revenue by Products

Product Q3-2024Q4-2024Q1-2025Q2-2025
ATM Processing Fees
ATM Processing Fees
 $0 ▲$0 ▲$0 ▲$0 ▲
Credit Card Merchant Discount
Credit Card Merchant Discount
 $0 ▲$10.00M ▲$0 ▼$0 ▲
Debit Card
Debit Card
 $0 ▲$10.00M ▲$0 ▼$0 ▲
Deposit Account
Deposit Account
 $0 ▲$10.00M ▲$0 ▼$0 ▲
Fiduciary and Trust
Fiduciary and Trust
 $0 ▲$0 ▲$0 ▲$0 ▲
Financial Service Other
Financial Service Other
 $0 ▲$0 ▲$0 ▲$0 ▲

Five-Year Company Overview

Income Statement

Income Statement Westamerica’s earnings profile looks solid and fairly resilient. Revenue and profit have grown meaningfully over the last several years, helped by wide margins and tight cost control. The most recent year shows a slight step down from a very strong prior year, but profit levels are still well above where they were a few years ago. This suggests the bank is managing interest rate swings and costs reasonably well. Overall, it operates as a high-margin, efficiency-focused bank, though recent softness hints that growth may be moderating from peak levels.

Balance Sheet

Balance Sheet The balance sheet looks conservative and relatively low risk. Total assets have edged down from earlier highs, which can reflect a deliberate tightening of lending or balance sheet repositioning. Debt levels are modest compared with the bank’s size, and shareholder equity has built up over time, signaling retained strength and a healthy capital cushion. Cash levels have moved around from year to year, which is common in banking, but there is no sign of an aggressive, highly leveraged posture. Overall, the bank appears to favor safety and capital strength over rapid expansion.

Cash Flow

Cash Flow Cash generation from core operations has been consistently positive and in line with reported earnings, which is a good sign of quality. Free cash flow mirrors operating cash flow, as the business requires minimal spending on physical assets. This light capital intensity fits a traditional banking model and supports the ability to fund dividends or buybacks when management chooses, without stretching the balance sheet. There is no sign of cash strain; instead, cash flows look steady, predictable, and conservative.

Competitive Edge

Competitive Edge Westamerica competes mainly on financial stability, disciplined lending, and deep community relationships rather than on size or technology. It has a long history in Northern and Central California and leans on local knowledge, customer loyalty, and conservative credit culture as its key advantages. Its profitability metrics compare favorably with many regional peers. On the flip side, it operates in a limited geographic footprint and is not a digital leader, which can be a disadvantage as large and more tech-savvy banks push into the same customer base. Its moat is built on prudence and reputation rather than innovation or scale.

Innovation and R&D

Innovation and R&D The company’s approach to innovation is cautious and incremental. It offers standard online and mobile banking capabilities that customers now expect, but it does not appear to be pushing the frontier on fintech, data analytics, or new digital products. Technology investments are more about staying current and reliable than about differentiation. This keeps costs predictable but could leave the bank exposed if customer expectations or competitive offerings shift sharply toward more advanced digital experiences. In short, R&D and innovation are not central to the story; conservative execution is.

Summary

Westamerica Bancorporation comes across as a classic conservative community bank: strong profitability, disciplined risk management, and a solid capital position, paired with reliable but unremarkable technology. The financial statements show healthy margins and steady cash flow, backed by a cautious balance sheet with modest leverage. Its strengths lie in stability, local relationships, and a straightforward business model; its key vulnerabilities are limited geographic reach and a follower stance in digital innovation. Future performance will likely hinge more on credit quality, interest rate conditions, and the health of its regional economy than on any breakthrough in products or technology.

NEWS

October 23, 2025 · 11:43 AM UTC

Westamerica Bancorporation Declares Quarterly Cash Dividend

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October 16, 2025 · 11:00 AM UTC

Westamerica Bancorporation Reports Third Quarter 2025 Financial Results

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