Westamerica increases stock repurchase plan authorization by 2M shares

Westamerica (WABC) announced that its board of directors approved an increase in the company’s stock repurchase plan authorization by 2M shares. After accounting for shares previously purchased, and the 785,023 available under the prior authorization, the company currently has 2.79M shares remaining under the expanded plan, which represents 11.8% of the company’s common stock outstanding as of March 31. Under the plan the company may repurchase, as conditions warrant, shares of the company’s common stock on the open market or in privately negotiated transactions prior to December 31.