West Bancorporation · NASDAQ:WTBA
West Bancorporation — Q3 2025 Earnings Presentation
17 slides from West Bancorporation's earnings presentation, Oct 23, 2025
Slide 1: Q3 2025 Earnings Highlights
1 NASDAQ: WTBA Q3 2025 | Earnings Highlights
Slide 2: Forward-looking statements
2 Certain statements in this presentation, other than purely historical information, including estimates, projections, statements relating to the Company’s business plans, objectives and expected operating results, and the assumptions upon which those statements are based, are “forward-looking state
Slide 3: 3Q 2025 Financial Highlights
3 3Q 2025 Financial Highlights * Presented on a fully taxable equivalent basis; see Appendix for “Non-GAAP Financial Measures.” $26.26 NASDAQ: WTBA September 30, 2025 Closing Price $20.32 3Q 2025 Price Range $17.31 to $21.69 Cash Dividend Per Share Declared On October 22, 2025 $0.25 (payable on Nove
Slide 4: Company Profile and Mission
4 • West Bancorporation, Inc. (the “Company”) is a publicly traded, financial holding company (NASDAQ: WTBA) established in 1984. Its sole subsidiary is West Bank, founded in 1893. • West Bank is a full service commercial bank headquartered in West Des Moines, Iowa and has 11 branches and commercial
Slide 5: Experienced Executive Leadership
5 Experienced Executive Leadership David D. Nelson Director/Chief Executive Officer/President Joined West Bank in 2010 Years in Banking: 42 Prior to joining the Company Mr. Nelson was the President of Southeast Minnesota Business Banking and President of Wells Fargo Bank Rochester in Rochester, Minn
Slide 6: Conservative Organic Growth with Successful Lift-Out Strategies
6 Conservative Organic Growth with Successful Lift-Out Strategies David Nelson joins West Bancorporation, Inc. as CEO. Entered the Rochester, Minnesota market by hiring experienced bankers who had existing strong relationships with local business owners and creating an advisory community board made
Slide 7: Company Highlights – Commitment to Excellence
7 Company Highlights – Commitment to Excellence West Bancorporation, Inc. is a high performing company in U.S. community banking, well-versed in providing commercial banking services, including loans and lines of credit and all types of deposit services, to small- and medium-sized businesses in its
Slide 8: Company Highlights – Commitment to Excellence
8 Company Highlights – Commitment to Excellence West Bank is a commercially-focused financial institution operating in high quality markets in Iowa and Minnesota led by a deep and experienced management team with skills developed internally and with other large regional banking institutions. Credit
Slide 9: 3Q 2025 Income Statement Highlights
9 3Q 2025 Income Statement Highlights (in thousands) For the Quarter Ended Q3 '24 Q2 '25 Q3 '25 Linked Quarter Comments - Q2 '25 vs. Q3 '25 Net interest income $ 17,960 $ 21,419 $ 22,501 Increase primarily due to increase in interest income on loans and cash and cash equivalents. Net interest margin
Slide 10: Net Interest Income
10 Net Interest Income (1) Presented on a fully taxable equivalent basis; see Appendix for “Non-GAAP Financial Measures.” $18.0 $19.4 $20.9 $21.4 $22.5 3Q24 4Q24 1Q25 2Q25 3Q25 Net Interest Income ($ in millions) 1.91% 1.98% 2.28% 2.27% 2.36% Net interest margin %(1) Net interest income increased $1
Slide 11: Loans
11 $2,991 $3,008 $3,016 $2,990 $2,960 $2,966 $3,009 3Q24 4Q24 1Q25 2Q25 3Q25 2Q25 3Q25 Loans • Loans increased $42.5 million in Q3 2025, primarily due to an increase in commercial loans and commercial real estate loans. • Quarterly average loans decreased $29.7 million compared to Q2 2025. • Commerc
Slide 12: Loan Mix
12 Loan Mix C & I, 17% CRE - NOO, 36% CRE - OO, 13% Multi Family, 14% 1-4 Family, 3% C & D, 15% Consumer and other, 2% Loan Mix as of September 30, 2025 Total Construction and Development and Commercial Real Estate Loans at September 30, 2025 Sector Balance ($ in thousands) Multifamily $ 566,131 War
Slide 13: Credit Quality
13 $3 $(12) $(94) $(13) $24 3Q24 4Q24 1Q25 2Q25 3Q25 Credit Quality $0.2 $0.1 $0.2 $0.0 $0.0 3Q24 4Q24 1Q25 2Q25 3Q25 $0.2 $0.1 $0.2 $0.0 $0.0 3Q24 4Q24 1Q25 2Q25 3Q25 $29.4 $30.4 $30.5 $30.5 $30.5 3Q24 4Q24 1Q25 2Q25 3Q25 Net Charge-Offs (Recoveries) ($ in thousands) Substandard Loans ($ in million
Slide 14: Deposits
14 Deposits • Total deposits decreased $85.5 million in Q3 2025, primarily due to normal and anticipated cash flow fluctuations in core public fund deposits. • Brokered deposits decreased $3.5 million in Q3 2025. • Deposit costs decreased 2 bps in Q3 2025 compared to Q2 2025. • West Bank participate
Slide 15: Funding and Liquidity
15 Funding and Liquidity Cost of liability funding ($ in thousands) Cash and cash equivalents $ 232,932 Unpledged securities 84,276 FHLB borrowing availability 544,728 Unsecured lines of credit availability 75,000 Federal Reserve discount window availability 53,070 Total as of 9/30/2025 $ 990,006 $3
Slide 16: Regulatory Capital Ratios
16 8.8% 9.0% 9.0% 9.3% 9.4% 11.9% 12.0% 12.0% 12.3% 12.3% 3Q24 4Q24 1Q25 2Q25 3Q25 8.2% 7.9% 8.4% 8.3% 8.5% 10.3% 10.0% 10.5% 10.4% 10.5% 3Q24 4Q24 1Q25 2Q25 3Q25 9.4% 9.5% 9.6% 9.9% 9.9% 11.9% 12.0% 12.0% 12.3% 12.3% 3Q24 4Q24 1Q25 2Q25 3Q25 12.0% 12.1% 12.2% 12.5% 12.5%12.7% 12.9% 12.9% 13.2% 13.2
Slide 17: Appendix: Non-GAAP Financial Measures
17Appendix Appendix Non-GAAP Financial Measures (in thousands) As of and for the Quarter Ended September 30, 2025 June 30, 2025 March 31, 2025 December 31, 2024 September 30, 2024 Reconciliation of net interest income and net interest margin on a FTE basis to GAAP: Net interest income (GAAP) $ 22,50