West Bancorporation, Inc. reported a net income of $10.6 million, or $0.61 per diluted share, for the first quarter of 2026, marking a 34.8% increase from the $7.8 million, or $0.46 per diluted share, recorded in the same period of 2025. The company's annualized return on average assets rose to 1.06% from 0.81%, while the return on average equity improved to 15.91% from 13.84%. The increase in net income was primarily driven by a 16.9% rise in net interest income, which reached $24.4 million, attributed to higher interest income from deposits and a reduction in interest expenses on deposits and borrowed funds.
Total assets decreased to $4.01 billion as of March 31, 2026, down from $4.14 billion at the end of 2025. This decline was influenced by a reduction in total loans, which fell by $10.1 million to $2.99 billion, and a decrease in total deposits, which dropped by $133.5 million to $3.33 billion. The company maintained a strong credit quality, with no nonperforming loans reported, and the allowance for credit losses remained stable at 1.02% of total loans.
In terms of operational developments, West Bancorporation's noninterest income increased by $311, primarily due to a rise in trust services revenue. Noninterest expenses also saw a slight increase of $402, largely driven by higher salaries and employee benefits. The company declared a quarterly cash dividend of $0.25 per common share, payable on May 20, 2026, reflecting its commitment to returning value to shareholders.
Looking ahead, West Bancorporation's management expressed confidence in its ability to navigate market conditions, emphasizing the importance of maintaining liquidity and capital adequacy. The company has significant borrowing capacity available and continues to focus on core deposit growth while managing interest rate risk through various strategies. The outlook remains cautiously optimistic, with expectations for continued stability in credit quality and a focus on enhancing operational efficiency.
About WEST BANCORPORATION INC
West Bancorporation, Inc. is a financial holding company owning West Bank, a community bank providing full-service banking, trust, and financial services. Operating primarily in Iowa and Minnesota, it serves small- to medium-sized businesses and individuals with loans, deposits, online banking, and treasury services. The company emphasizes strong customer relationships, local market expertise, sound risk management, and regulatory compliance within a competitive banking industry.
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