Welcome to our dedicated page for West Bancorporation news (Ticker: WTBA), a resource for investors and traders seeking the latest updates and insights on West Bancorporation stock.
West Bancorporation Inc (WTBA) delivers community-focused banking services across Iowa and Minnesota, blending traditional values with modern financial solutions. This news hub provides investors and stakeholders with timely updates on corporate developments, financial performance, and community engagement initiatives.
Access official press releases alongside curated analysis of earnings reports, leadership announcements, and regulatory filings. Our repository simplifies tracking of key updates including trust service expansions, small business lending programs, and digital banking enhancements – all critical for assessing the company's market position.
Discover how WTBA's localized strategy translates to financial results through quarterly earnings disclosures. Stay informed about branch network developments and treasury management innovations that reinforce its role as a regional banking leader. Bookmark this page for direct access to primary sources and distilled insights into the company's operational priorities.
West Bancorporation, parent of West Bank, reported a net income of $7.8 million ($0.47 per diluted share) for the first quarter of 2023, marking a decline from $8.9 million in Q4 2022 and $13.2 million in Q1 2022. The Board of Directors declared a quarterly dividend of $0.25 per share, payable May 24, 2023. Notably, loans increased by $13.3 million (2.0% annualized), while deposits fell by $82.0 million. The net interest margin decreased to 2.23% from 2.49% quarter-over-quarter due to rising deposit costs. Despite these challenges, the company's credit quality remains strong, with no loans over 30 days past due for the seventh consecutive quarter. The efficiency ratio rose to 55.34% compared to 50.42% in the prior quarter, reflecting increased operational costs.
West Bancorporation, Inc. (Nasdaq: WTBA) will announce its first-quarter 2023 results on April 27, 2023, before market opening. Following this, a conference call is scheduled for the same day at 2:00 p.m. Central Time, with access via 844-200-6205 (access code: 950386). A recording will be available until May 11, 2023. Established in 1893, West Bank serves consumers and small to medium-sized businesses, operating six offices in the greater Des Moines area, one in Coralville, Iowa, and four in Minnesota.
West Bancorporation reported a net income of $46.4 million for 2022, down from $49.6 million in 2021, resulting in $2.76 per diluted share compared to $2.95 per share. In Q4 2022, net income was $8.9 million, with a $0.53 per share, a decrease from $11.9 million in Q4 2021. The company declared a $0.25 dividend per share, payable on February 22, 2023. Despite loan growth of 11.7% year-over-year, net interest income decreased by 3.5% due to rising costs. Credit quality remains strong with no loans overdue by more than 30 days for six consecutive quarters.
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