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EXHIBIT 99.1 Westamerica Bancorporation Reports Third Quarter 2026 Financial Results SAN RAFAEL , Calif . , Oct. 15 , 2026 ( GLOBE NEWSWIRE ) -- Westamerica Bancorporation ( Nasdaq : WABC ) , parent company of Westamerica Bank , generated net income for the third quarter 2026 of $ 28.2 million and diluted earnings per common share ( " EPS " ) of $ 1.22 . Third quarter 2026 results compare to second quarter 2026 net income of $ 27.4 million and EPS of $ 1.17 . " Westamerica's third quarter 2026 results continued to benefit from the Company's low - cost operating principles . The annualized cost of funding interest - earning loans , bonds and cash was 0.26 percent for the third quarter 2026 . Excess cash from stable deposit balances was invested in higher interest earning investment securities resulting in an annualized net interest margin of 3.81 percent for the third quarter 2026 , a 4 basis point increase when compared to the second quarter 2026. The Company recognized no provision for credit losses in the third quarter 2026. At September 30 , 2026 , nonperforming assets were $ 476 thousand and the allowance for credit losses on loans was $ 10.5 million . Westamerica operated efficiently , spending 41 percent of its revenue on operating costs in the third quarter 2026 " , said Chairman , President and CEO David Payne . “ Third quarter 2026 results generated an annualized 11.5 percent return on average common equity . Westamerica paid a $ 0.48 per common share dividend during the third quarter 2026 , and retired 51 thousand common shares using its share repurchase plan . Westamerica's capital ratios remain at historically high levels exceeding the highest regulatory guidelines , ” concluded Payne . Net interest income on a fully - taxable equivalent ( FTE ) basis was $ 53.5 million for the third quarter 2026 , compared to $ 52.7 million for the second quarter 2026. The annualized yield earned on loans , bonds and cash for the third quarter 2026 was 4.07 percent compared to 4.01 percent for the second quarter 2026. The annualized cost of funding interest - earning loans , bonds and cash was 0.26 percent for the third quarter 2026 compared to 0.24 percent for the second quarter 2026 . Noninterest income for the third quarter 2026 totaled $ 10.7 million compared to $ 10.3 million for the second quarter 2026. The increase in noninterest income is primarily due to higher merchant processing services fee income related to receipt of a one - time termination fee and increased transaction volumes in the third quarter 2026 . Noninterest expense was $ 26.2 million for the third quarter 2026 compared to $ 26.0 million for the second quarter 2026. The increase in noninterest expense is primarily due to higher occupancy and equipment expense and professional fees , partially offset by lower salaries and benefits expense . The income tax provision ( FTE ) for the third quarter 2026 was $ 9.9 million compared to $ 9.5 million for the second quarter 2026 . Westamerica Bancorporation's wholly owned subsidiary Westamerica Bank , operates commercial banking and trust offices throughout Northern and Central California . Westamerica Bancorporation Web Address : www.westamerica.com For additional information contact : Westamerica Bancorporation 1108 Fifth Avenue , San Rafael , CA 94901 Robert A. Thorson - Investor Relations Contact 707-863-6090 investments@westamerica.com FORWARD - LOOKING INFORMATION : The following appears in accordance with the Private Securities Litigation Reform Act of 1995 : This press release may contain forward - looking statements about the Company , including descriptions of plans or objectives of its management for future operations , products or services , and forecasts of its revenues , earnings or other measures of economic performance . Forward - looking statements can be identified by the fact that they do not relate strictly to historical or current facts . They often include the words " believe , " " expect , " " anticipate , " " intend , "