West Bancorporation · NASDAQ:WTBA
West Bancorporation — Q4 2025 Earnings Presentation
18 slides from West Bancorporation's earnings presentation, Jan 29, 2026
Slide 1: Q4 2025 Earnings Highlights
1 NASDAQ: WTBA Q4 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: 4Q 2025 Financial Highlights
3 4Q 2025 Financial Highlights * Presented on a fully taxable equivalent basis; see Appendix for “Non-GAAP Financial Measures.” $26.26 NASDAQ: WTBA December 31, 2025 Closing Price $22.19 4Q 2025 Price Range $19.03 to $24.27 Cash Dividend Per Share Declared On January 28, 2026 $0.25 (payable on Febru
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: Historical Strength - Year Performance Period (2016-2025)
9 Historical Strength - 10 Year Performance Period (2016-2025) Organic Growth Asset Quality Profitability & Expense Management Capital • Organic loan growth of $1.75 billion, or 141%. Cumulative annual growth rate (CAGR) of 9.18%. • Organic core deposit growth of $1.90 billion, or 134%. CAGR of 8.86
Slide 10: 4Q 2025 Income Statement Highlights
10 4Q 2025 Income Statement Highlights (in thousands) For the Quarter Ended Q4 '24 Q3 '25 Q4 '25 Linked Quarter Comments Q3 '25 vs. Q4 '25 Net interest income $ 19,422 $ 22,501 $ 24,206 Increase primarily due to the growth and changes in the mix of interest earning assets and decrease in rates on de
Slide 11: Net Interest Income
11 Net Interest Income (1) Presented on a fully taxable equivalent basis; see Appendix for “Non-GAAP Financial Measures.” $19.4 $20.9 $21.4 $22.5 $24.2 4Q24 1Q25 2Q25 3Q25 4Q25 Net Interest Income ($ in millions) 1.98% 2.28% 2.27% 2.36% 2.47% Net interest margin %(1) Quarterly Highlights • Net inter
Slide 12: Loans
12 $3,008 $3,016 $2,990 $2,960 $2,983 $3,009 $3,002 4Q24 1Q25 2Q25 3Q25 4Q25 3Q25 4Q25 Loans • Loans decreased $7.2 million in Q4 2025, primarily due to a decrease in construction loans, partially offset by an increase in commercial real estate loans. • Quarterly average loans increased $22.8 millio
Slide 13: Loan Mix
13 Loan Mix C & I, 17% CRE - NOO, 35% CRE - OO, 14% Multi Family, 15% 1-4 Family, 3% C & D, 14% Consumer and other, 2% Loan Mix as of December 31, 2025 Total Construction and Development and Commercial Real Estate Loans at December 31, 2025 Sector Balance ($ in thousands) Multifamily $ 582,203 Hotel
Slide 14: Credit Quality
14 $(12) $(94) $(13) $24 $(9) 4Q24 1Q25 2Q25 3Q25 4Q25 Credit Quality $0.1 $0.2 $0.0 $0.0 $0.0 4Q24 1Q25 2Q25 3Q25 4Q25 $0.1 $0.2 $0.0 $0.0 $0.0 4Q24 1Q25 2Q25 3Q25 4Q25 $30.4 $30.5 $30.5 $30.5 $30.5 4Q24 1Q25 2Q25 3Q25 4Q25 Net Charge-Offs (Recoveries) ($ in thousands) Substandard Loans ($ in milli
Slide 15: Deposits
15 Deposits • Total deposits increased $162.0 million in Q4 2025 with increases in both core commercial and retail deposits. • Brokered deposits decreased $50.2 million in Q4 2025. • Deposit costs decreased 28 bps in Q4 2025 compared to Q3 2025. • West Bank participates in a reciprocal deposit netwo
Slide 16: Funding and Liquidity
16 Funding and Liquidity Cost of liability funding ($ in thousands) Cash and cash equivalents $ 471,086 Unpledged securities 49,777 FHLB borrowing availability 648,687 Unsecured lines of credit availability 75,000 Federal Reserve discount window availability 38,341 Total as of 12/31/2025 $ 1,282,891
Slide 17: Regulatory Capital Ratios
17 9.0% 9.0% 9.3% 9.4% 9.6% 12.0% 12.0% 12.3% 12.3% 12.4% 4Q24 1Q25 2Q25 3Q25 4Q25 7.9% 8.4% 8.3% 8.5% 8.4% 10.0% 10.5% 10.4% 10.5% 10.4% 4Q24 1Q25 2Q25 3Q25 4Q25 9.5% 9.6% 9.9% 9.9% 10.1% 12.0% 12.0% 12.3% 12.3% 12.4% 4Q24 1Q25 2Q25 3Q25 4Q25 12.1% 12.2% 12.5% 12.5% 12.8%12.9% 12.9% 13.2% 13.2% 13.
Slide 18: Appendix: Non-GAAP Financial Measures
18Appendix Appendix Non-GAAP Financial Measures (in thousands) As of and for the Quarter Ended December 31, 2025 September 30, 2025 June 30, 2025 March 31, 2025 December 31, 2024 Reconciliation of net interest income and net interest margin on a FTE basis to GAAP: Net interest income (GAAP) $ 24,206