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West Bancorporation reports developments tied to its role as the parent company of West Bank, a community bank serving consumers and small- to medium-sized businesses in Iowa and Minnesota. The bank focuses on lending, deposit services and trust services, with additional digital banking and treasury management offerings for business customers.
Company updates regularly cover quarterly financial results, dividend declarations, net interest income and margin trends, loan balances and mix, credit quality, funding costs and relationship banking activity across its markets.
West Bancorporation, Inc. (WTBA) reported a 19.4% increase in second quarter net income, reaching $8.0 million or $0.48 per diluted share, compared to $6.7 million or $0.41 in Q2 2019. For the first half of 2020, net income grew to $16.1 million or $0.97 per diluted share, from $13.6 million or $0.83 last year. A quarterly dividend of $0.21 per share was declared, payable on August 19, 2020. CEO Dave Nelson acknowledged the ongoing challenges of the COVID-19 pandemic but expressed confidence in the company's strong financial position.
West Bancorporation, Inc. (Nasdaq: WTBA) will report its Q2 2020 results on July 23, 2020, before market opening. A conference call for discussing these results is scheduled for July 24, 2020, at 10:00 a.m. Central Time. Investors can participate via phone at 888-339-0814, with a recording available until August 7, 2020. West Bank, a subsidiary, provides banking services in Iowa and Minnesota, with a focus on consumer and business lending. Established in 1893, it operates multiple branches in the greater Des Moines area and surrounding regions.