Westamerica Bancorporation Raises Buyback Authorization by 2 Million Shares
Westamerica’s board approved a 2,000,000‐share increase to its repurchase plan, bringing remaining authorization to 2,785,023 shares or 11.8% of common stock outstanding as of March 31, 2026. The expanded program permits open‐market or privately negotiated repurchases through December 31, 2026, underscoring strong capital reserves.
1. Board Approves Increased Repurchase Authorization
Westamerica’s board of directors authorized an additional 2,000,000 shares for repurchase, boosting the total remaining under the plan to 2,785,023 shares, equal to 11.8% of outstanding common stock as of March 31, 2026.
2. Plan Details and Execution Timeline
Under the expanded plan, the company may repurchase shares on the open market or through privately negotiated transactions at management’s discretion through December 31, 2026, allowing flexibility in timing and pricing.
3. Capital Strength and Shareholder Returns
Management cited Westamerica’s strong financial position, conservative risk profile and consistent earnings as the rationale for the increase, anticipating that additional buybacks will support per-share metrics and return capital to shareholders.