Business
West Bancorporation, Inc. Announces First Quarter 2026 Financial Results And Declares Quarterly Dividend
WEST DES MOINES, Iowa, April 23, 2026 (GLOBE NEWSWIRE) -- West Bancorporation, Inc. (Nasdaq: WTBA; the “Company”), parent company of West Bank, today reported
About this update from West Bancorporation
[{"type":"text","content":"WEST DES MOINES, Iowa, April 23, 2026 (GLOBE NEWSWIRE) -- West Bancorporation, Inc. (Nasdaq: WTBA; the “Company”), parent company of West Bank, today reported first quarter 2026 net income of $10.6 million, or $0.61 per diluted common share, compared to fourth quarter 2025 net income of $7.4 million, or $0.43 per diluted common share, and first quarter 2025 net income of $7.8 million, or $0.46 per diluted common share. On April 22, 2026, the Company’s Board of Directors declared a regular quarterly dividend of $0.25 per common share. The dividend is payable on May 20, 2026, to stockholders of record on May 6, 2026. David Nelson, President and Chief Executive Officer of the Company, commented, “Our priorities continue to center on our relationship building strategies to drive improvements in profitability and build shareholder value. Our net interest margin continues to expand and we saw net income increase 34.8 percent in the first quarter of 2026 compared to the first quarter of 2025. Our teams are working hard at the activities that we believe will result in enhanced financial performance.” Mr. Nelson added, “Our balance sheet remains exceptionally strong, supported by solid capital and liquidity levels. Credit quality remains pristine with no loans on nonaccrual status at March 31, 2026. Additionally, this marks our seventh consecutive quarter-end with no loans greater than 30 days past due.” First Quarter 2026 Compared to Fourth Quarter 2025 Overview Loans decreased $10.1 million, or 0.3 percent, in the first quarter of 2026. We continue to experience notable loan payoffs as a result of secondary market refinancings and asset and business sales. The change in loan mix is primarily due to reclassifications resulting from completed construction projects moving to permanent financing and commercial loan restructurings adding real estate collateral. No credit loss expense on loans was recorded in either the first quarter of 2026 or fourth quarter of 2025. The allowance for credit losses to total loans was 1.02 percent as of both March 31, 2026 and December 31, 2025. There were no nonaccrual loans at March 31, 2026 or December 31, 2025. Watch list loans decreased from $52.2 million as of December 31, 2025 to $41.3 million as of March 31, 2026. This decrease was primarily due to the payoff of one commercial real estate loan in the...