West Coast Community Bancorp Q1 net income rises, helped by lower interest expense

West Coast Community Bancorp

21/04/2026 14:08

Overview

California regional bank's Q1 net income and EPS rose yr/yr and quarter-over-quarter

Company raised quarterly dividend by $0.01 per share for Q1 2026

Q1 net interest income grew 5.4% yr/yr, driven by higher loan balances and noninterest income

Outlook

Company did not provide specific guidance for the current quarter or full year

Result Drivers

CREDIT LOSS REVERSAL & NONINTEREST INCOME - Q1 benefited from a $359,000 reversal of credit losses, a $912,000 gain on the sale of non-core residential loans, and a $368,000 special dividend from FHLB stock

LOAN GROWTH - Core loan growth, especially in commercial revolving lines and agriculture-related businesses, contributed to higher average loan balances

LOWER INTEREST EXPENSE - Decrease in interest expense, including lower deposit costs and the absence of accelerated purchase discount accretion on subordinated debt, partly offset lower interest income

Company press release: ID:nPn3577Xca

Key Details

Metric
Beat/Miss
Actual
Consensus Estimate
Q1 Net Interest Income
$34.10 mln


Analyst Coverage

The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 2 "strong buy" or "buy", no "hold" and no "sell" or "strong sell"

The average consensus recommendation for the banks peer group is "buy"

Wall Street's median 12-month price target for West Coast Community Bancorp is $54.00, about 13.7% above its April 20 closing price of $47.49

The stock recently traded at 9 times the next 12-month earnings vs. a P/E of 9 three months ago

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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)