{"id":519903,"date":"2021-07-29T08:33:14","date_gmt":"2021-07-29T12:33:14","guid":{"rendered":"https:\/\/www.marketnewsdesk.com\/index.php\/west-bancorporation-inc-announces-record-net-income-for-the-second-quarter-of-2021-declares-quarterly-dividend\/"},"modified":"2021-07-29T08:33:14","modified_gmt":"2021-07-29T12:33:14","slug":"west-bancorporation-inc-announces-record-net-income-for-the-second-quarter-of-2021-declares-quarterly-dividend","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/west-bancorporation-inc-announces-record-net-income-for-the-second-quarter-of-2021-declares-quarterly-dividend\/","title":{"rendered":"West Bancorporation, Inc. Announces Record Net Income for the Second Quarter of 2021, Declares Quarterly Dividend"},"content":{"rendered":"
\n

WEST DES MOINES, Iowa, July 29, 2021 (GLOBE NEWSWIRE) — West Bancorporation, Inc. (Nasdaq: WTBA; the \u201cCompany\u201d), parent company of West Bank, today reported that second quarter 2021 net income was $13.2 million, or $0.79 per diluted common share, compared to second quarter 2020 net income of $8.0 million, or $0.48 per diluted common share. For the first six months of 2021, net income was $25.0 million, or $1.49 per diluted common share, compared to $16.1 million, or $0.97 per diluted common share, for the first six months of 2020. On July 28, 2021, the Company\u2019s Board of Directors declared a regular quarterly dividend of $0.24 per common share. The dividend is payable on August 25, 2021, to stockholders of record on August 11, 2021.<\/p>\n

Dave Nelson, President and Chief Executive Officer of the Company, commented, \u201cAs the country and our communities continue to emerge from the economic uncertainties created by the COVID-19 pandemic, our bankers are dedicated to executing our strategic objectives, which include organic loan growth and superior credit quality resulting from disciplined underwriting. We are pleased to have loan growth (exclusive of Paycheck Protection Program (PPP) loan activity) of 6.0 percent for the first six months of 2021, and year over year loan growth of 12.6 percent (also exclusive of PPP loan activity). Our credit quality continues to improve as all remaining COVID-related loan modifications expired in the second quarter and those loans returned to normal payment status. This improvement in economic conditions and credit quality resulted in a negative provision for loan losses of $2.0 million in the second quarter compared to a provision for loan losses of $3.0 million in the second quarter last year.\u201d<\/p>\n

Dave Nelson also commented, \u201cWe continue to build our brand in Minnesota. Construction of our permanent branch office in Sartell, Minnesota, a suburb of St. Cloud, is expected to be completed before the end of the year. We are also in the planning phase for the construction of a permanent branch office in Mankato, Minnesota.\u201d<\/p>\n

The Company filed its report on Form 10-Q with the Securities and Exchange Commission today. Please refer to that document for a more in-depth discussion of the Company\u2019s financial results. The Form 10-Q is available on the Investor Relations section of West Bank\u2019s website at www.westbankstrong.com.<\/p>\n

The Company will discuss its financial results on a conference call scheduled for 10:00 a.m. Central Time tomorrow, Friday, July 30, 2021. The telephone number for the conference call is 888-339-0814. A recording of the call will be available until August 13, 2021, by dialing 877-344-7529. The replay passcode is 10150541.<\/p>\n

\n About West Bancorporation, Inc. (Nasdaq: WTBA)<\/strong>\n <\/p>\n

West Bancorporation, Inc. is headquartered in West Des Moines, Iowa. Serving customers since 1893, West Bank, a wholly-owned subsidiary of West Bancorporation, Inc., is a community bank that focuses on lending, deposit services, and trust services for consumers and small- to medium-sized businesses. West Bank has seven offices in the Des Moines, Iowa metropolitan area, one office in Coralville, Iowa, and four offices in Minnesota in the cities of Rochester, Owatonna, Mankato and St. Cloud.<\/p>\n

Certain statements in this report, other than purely historical information, including estimates, projections, statements relating to the Company\u2019s business plans, objectives and expected operating results, and the assumptions upon which those statements are based, are \u201cforward-looking statements\u201d within the meanings of the Private Securities Litigation Reform Act of 1995, Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Forward-looking statements may appear throughout this report. These forward-looking statements are generally identified by the words \u201cbelieves,\u201d \u201cexpects,\u201d \u201cintends,\u201d \u201canticipates,\u201d \u201cprojects,\u201d \u201cfuture,\u201d \u201cconfident,\u201d \u201cmay,\u201d \u201cshould,\u201d \u201cwill,\u201d \u201cstrategy,\u201d \u201cplan,\u201d \u201copportunity,\u201d \u201cwill be,\u201d \u201cwill likely result,\u201d \u201cwill continue\u201d or similar references, or references to estimates, predictions or future events.\u00a0Such forward-looking statements are based upon certain underlying assumptions, risks and uncertainties.\u00a0Because of the possibility that the underlying assumptions are incorrect or do not materialize as expected in the future, actual results could differ materially from these forward-looking statements.\u00a0\u00a0Risks and uncertainties that may affect future results include: the effects of the COVID-19 pandemic, including its effects on the economic environment, our customers and our operations, as well as any changes to federal, state or local government laws, regulations or orders in connection with the pandemic; interest rate risk; competitive pressures; pricing pressures on loans and deposits; changes in credit and other risks posed by the Company\u2019s loan and investment portfolios, including declines in commercial or residential real estate values or changes in the allowance for loan losses dictated by new market conditions, accounting standards (including as a result of the future implementation of the current expected credit loss (CECL) accounting standard) or regulatory requirements; actions of bank and nonbank competitors; changes in local, national and international economic conditions; changes in legal and regulatory requirements, limitations and costs; changes in customers\u2019 acceptance of the Company\u2019s products and services; cyber-attacks; unexpected outcomes of existing or new litigation involving the Company; the monetary, trade and other regulatory policies of the U.S. government; acts of war or terrorism, widespread disease or pandemics, such as the COVID-19 pandemic, or other adverse external events; developments and uncertainty related to the future use and availability of some reference rates, such as the London Interbank Offered Rate, as well as other alternative reference rates; changes to U.S. tax laws, regulations and guidance; and any other risks described in the \u201cRisk Factors\u201d sections of reports filed by the Company with the Securities and Exchange Commission. The Company undertakes no obligation to revise or update such forward-looking statements to reflect current or future events or circumstances after the date hereof or to reflect the occurrence of unanticipated events.<\/p>\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
\n WEST BANCORPORATION, INC. AND SUBSIDIARY<\/strong>\n <\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
Financial Information (unaudited)<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
(in thousands)<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
\n CONSOLIDATED BALANCE SHEETS<\/strong>\n <\/td>\n\u00a0<\/td>\n\n June 30, 2021<\/strong>\n <\/td>\n\u00a0<\/td>\nJune 30, 2020<\/td>\n<\/tr>\n
\n Assets<\/strong>\n <\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
Cash and due from banks<\/td>\n\u00a0<\/td>\n\n $<\/strong>\n <\/td>\n\n 31,978\u00a0<\/strong>\n <\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n$<\/td>\n54,175<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
Federal funds sold<\/td>\n\u00a0<\/td>\n\n 238,845\u00a0<\/strong>\n <\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n62,494<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
Securities available for sale, at fair value<\/td>\n\u00a0<\/td>\n\n 601,462\u00a0<\/strong>\n <\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n342,017<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
Federal Home Loan Bank stock, at cost<\/td>\n\u00a0<\/td>\n\n 10,189\u00a0<\/strong>\n <\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n12,307<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
Loans<\/td>\n\u00a0<\/td>\n\n 2,309,527\u00a0<\/strong>\n <\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n2,199,688<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
Allowance for loan losses<\/td>\n\u00a0<\/td>\n\n (28,042<\/strong>\n <\/td>\n\n )<\/strong>\n <\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n(21,363<\/td>\n)<\/td>\n\u00a0<\/td>\n<\/tr>\n
Loans, net<\/td>\n\u00a0<\/td>\n\n 2,281,485\u00a0<\/strong>\n <\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n2,178,325<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
Premises and equipment, net<\/td>\n\u00a0<\/td>\n\n 30,753\u00a0<\/strong>\n <\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n28,655<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
Bank-owned life insurance<\/td>\n\u00a0<\/td>\n\n 43,146\u00a0<\/strong>\n <\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n35,187<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
Other assets<\/td>\n\u00a0<\/td>\n\n 30,902\u00a0<\/strong>\n <\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n27,163<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
\n Total assets<\/strong>\n <\/td>\n\u00a0<\/td>\n\n $<\/strong>\n <\/td>\n\n 3,268,760\u00a0<\/strong>\n <\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n$<\/td>\n2,740,323<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
\n Liabilities and Stockholders\u2019 Equity<\/strong>\n <\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
Deposits:<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
Noninterest-bearing demand<\/td>\n\u00a0<\/td>\n\n $<\/strong>\n <\/td>\n\n 703,691\u00a0<\/strong>\n <\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n$<\/td>\n590,487<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
Interest-bearing:<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
Demand<\/td>\n\u00a0<\/td>\n\n 487,642\u00a0<\/strong>\n <\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n378,931<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
Savings<\/td>\n\u00a0<\/td>\n\n 1,391,231\u00a0<\/strong>\n <\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n1,081,743<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
Time of $250 or more<\/td>\n\u00a0<\/td>\n\n 46,660\u00a0<\/strong>\n <\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n61,456<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
Other time<\/td>\n\u00a0<\/td>\n\n 196,065\u00a0<\/strong>\n <\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n143,092<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
Total deposits<\/td>\n\u00a0<\/td>\n\n 2,825,289\u00a0<\/strong>\n <\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n2,255,709<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
Federal funds purchased<\/td>\n\u00a0<\/td>\n\n 3,605\u00a0<\/strong>\n <\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n5,755<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
Other borrowings<\/td>\n\u00a0<\/td>\n\n 165,744\u00a0<\/strong>\n <\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n223,181<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
Other liabilities<\/td>\n\u00a0<\/td>\n\n 27,596\u00a0<\/strong>\n <\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n46,991<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
Stockholders\u2019 equity<\/td>\n\u00a0<\/td>\n\n 246,526\u00a0<\/strong>\n <\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n208,687<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
\n Total liabilities and stockholders\u2019 equity<\/strong>\n <\/td>\n\u00a0<\/td>\n\n $<\/strong>\n <\/td>\n\n 3,268,760\u00a0<\/strong>\n <\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n$<\/td>\n2,740,323<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n<\/table>\n

\n \n <\/p>\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
\n WEST BANCORPORATION, INC. AND SUBSIDIARY<\/strong>\n <\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
Financial Information (continued) (unaudited)<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
(in thousands)<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
\u00a0<\/td>\n\u00a0<\/td>\nThree Months Ended June 30,<\/td>\n\u00a0<\/td>\nSix Months Ended June 30,<\/td>\n<\/tr>\n
\n CONSOLIDATED STATEMENTS OF INCOME<\/strong>\n <\/td>\n\u00a0<\/td>\n\n 2021<\/strong>\n <\/td>\n\u00a0<\/td>\n2020<\/td>\n\u00a0<\/td>\n\n 2021<\/strong>\n <\/td>\n\u00a0<\/td>\n2020<\/td>\n<\/tr>\n
\n Interest income<\/strong>\n <\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
Loans, including fees<\/td>\n\u00a0<\/td>\n\n $<\/strong>\n <\/td>\n\n 23,139\u00a0<\/strong>\n <\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n$<\/td>\n22,332<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\n $<\/strong>\n <\/td>\n\n 47,177\u00a0<\/strong>\n <\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n$<\/td>\n44,643<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
Securities<\/td>\n\u00a0<\/td>\n\n 2,607\u00a0<\/strong>\n <\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n2,313<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\n 4,810\u00a0<\/strong>\n <\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n4,993<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
Other<\/td>\n\u00a0<\/td>\n\n 75\u00a0<\/strong>\n <\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n12<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\n 144\u00a0<\/strong>\n <\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n241<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
\n Total interest income<\/strong>\n <\/td>\n\u00a0<\/td>\n\n 25,821\u00a0<\/strong>\n <\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n24,657<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\n 52,131\u00a0<\/strong>\n <\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n49,877<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
\n Interest expense<\/strong>\n <\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
Deposits<\/td>\n\u00a0<\/td>\n\n 1,995\u00a0<\/strong>\n <\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n2,351<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\n 3,872\u00a0<\/strong>\n <\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n7,397<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
Federal funds purchased<\/td>\n\u00a0<\/td>\n\n 1\u00a0<\/strong>\n <\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n3<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\n 2\u00a0<\/strong>\n <\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n19<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
Other borrowings<\/td>\n\u00a0<\/td>\n\n 975\u00a0<\/strong>\n <\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n1,556<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\n 2,286\u00a0<\/strong>\n <\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n3,250<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
\n Total interest expense<\/strong>\n <\/td>\n\u00a0<\/td>\n\n 2,971\u00a0<\/strong>\n <\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n3,910<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\n 6,160\u00a0<\/strong>\n <\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n10,666<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
\n Net interest income<\/strong>\n <\/td>\n\u00a0<\/td>\n\n 22,850\u00a0<\/strong>\n <\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n20,747<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\n 45,971\u00a0<\/strong>\n <\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n39,211<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
Provision for loan losses<\/td>\n\u00a0<\/td>\n\n (2,000<\/strong>\n <\/td>\n\n )<\/strong>\n <\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n3,000<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\n (1,500<\/strong>\n <\/td>\n\n )<\/strong>\n <\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n4,000<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
\n Net interest income after provision for loan losses<\/strong>\n <\/td>\n\u00a0<\/td>\n\n 24,850\u00a0<\/strong>\n <\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n17,747<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\n 47,471\u00a0<\/strong>\n <\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n35,211<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
\n Noninterest income<\/strong>\n <\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
Service charges on deposit accounts<\/td>\n\u00a0<\/td>\n\n 578\u00a0<\/strong>\n <\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n531<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\n 1,160\u00a0<\/strong>\n <\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n1,134<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
Debit card usage fees<\/td>\n\u00a0<\/td>\n\n 511\u00a0<\/strong>\n <\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n391<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\n 953\u00a0<\/strong>\n <\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n773<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
Trust services<\/td>\n\u00a0<\/td>\n\n 691\u00a0<\/strong>\n <\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n461<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\n 1,343\u00a0<\/strong>\n <\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n924<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
Increase in cash value of bank-owned life insurance<\/td>\n\u00a0<\/td>\n\n 240\u00a0<\/strong>\n <\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n136<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\n 460\u00a0<\/strong>\n <\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n294<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
Loan swap fees<\/td>\n\u00a0<\/td>\n\n 42\u00a0<\/strong>\n <\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n3<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\n 42\u00a0<\/strong>\n <\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n589<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
Realized investment securities gains (losses), net<\/td>\n\u00a0<\/td>\n\n 36\u00a0<\/strong>\n <\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n(69<\/td>\n)<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\n 40\u00a0<\/strong>\n <\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n(75<\/td>\n)<\/td>\n\u00a0<\/td>\n<\/tr>\n
Other income<\/td>\n\u00a0<\/td>\n\n 417\u00a0<\/strong>\n <\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n322<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\n 982\u00a0<\/strong>\n <\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n656<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
\n Total noninterest income<\/strong>\n <\/td>\n\u00a0<\/td>\n\n 2,515\u00a0<\/strong>\n <\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n1,775<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\n 4,980\u00a0<\/strong>\n <\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n4,295<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
\n Noninterest expense<\/strong>\n <\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
Salaries and employee benefits<\/td>\n\u00a0<\/td>\n\n 5,672\u00a0<\/strong>\n <\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n5,318<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\n 11,280\u00a0<\/strong>\n <\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n10,602<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
Occupancy<\/td>\n\u00a0<\/td>\n\n 1,199\u00a0<\/strong>\n <\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n1,217<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\n 2,427\u00a0<\/strong>\n <\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n2,430<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
Data processing<\/td>\n\u00a0<\/td>\n\n 617\u00a0<\/strong>\n <\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n554<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\n 1,219\u00a0<\/strong>\n <\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n1,184<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
FDIC insurance<\/td>\n\u00a0<\/td>\n\n 426\u00a0<\/strong>\n <\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n292<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\n 830\u00a0<\/strong>\n <\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n529<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
Other expenses<\/td>\n\u00a0<\/td>\n\n 2,612\u00a0<\/strong>\n <\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n2,036<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\n 5,041\u00a0<\/strong>\n <\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n4,335<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
\n Total noninterest expense<\/strong>\n <\/td>\n\u00a0<\/td>\n\n 10,526\u00a0<\/strong>\n <\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n9,417<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\n 20,797\u00a0<\/strong>\n <\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n19,080<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
\n Income before income taxes<\/strong>\n <\/td>\n\u00a0<\/td>\n\n 16,839\u00a0<\/strong>\n <\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n10,105<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\n 31,654\u00a0<\/strong>\n <\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n20,426<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
Income taxes<\/td>\n\u00a0<\/td>\n\n 3,600\u00a0<\/strong>\n <\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n2,136<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\n 6,663\u00a0<\/strong>\n <\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n4,368<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
\n Net income<\/strong>\n <\/td>\n\u00a0<\/td>\n\n $<\/strong>\n <\/td>\n\n 13,239\u00a0<\/strong>\n <\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n$<\/td>\n7,969<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\n $<\/strong>\n <\/td>\n\n 24,991\u00a0<\/strong>\n <\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n$<\/td>\n16,058<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n<\/table>\n

\n \n <\/p>\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
\n WEST BANCORPORATION, INC. AND SUBSIDIARY<\/strong>\n <\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
Financial Information (continued) (unaudited)<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
\u00a0<\/td>\n\u00a0<\/td>\n\n PER COMMON SHARE<\/strong>\n <\/td>\n\u00a0<\/td>\n\n MARKET INFORMATION (1)<\/strong>\n <\/td>\n<\/tr>\n
\u00a0<\/td>\n\u00a0<\/td>\nNet Income<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
\u00a0<\/td>\n\u00a0<\/td>\nBasic<\/td>\n\u00a0<\/td>\nDiluted<\/td>\n\u00a0<\/td>\nDividends<\/td>\n\u00a0<\/td>\nHigh<\/td>\n\u00a0<\/td>\nLow<\/td>\n<\/tr>\n
\n 2021<\/strong>\n <\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
\n 2nd Quarter<\/strong>\n <\/td>\n\u00a0<\/td>\n\n $<\/strong>\n <\/td>\n\n 0.80\u00a0<\/strong>\n <\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\n $<\/strong>\n <\/td>\n\n 0.79\u00a0<\/strong>\n <\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\n $<\/strong>\n <\/td>\n\n 0.24\u00a0<\/strong>\n <\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\n $<\/strong>\n <\/td>\n\n 29.90\u00a0<\/strong>\n <\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\n $<\/strong>\n <\/td>\n\n 23.92\u00a0<\/strong>\n <\/td>\n\u00a0<\/td>\n<\/tr>\n
\n 1st Quarter<\/strong>\n <\/td>\n\u00a0<\/td>\n\n 0.71\u00a0<\/strong>\n <\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\n 0.70\u00a0<\/strong>\n <\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\n 0.22\u00a0<\/strong>\n <\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\n 26.78\u00a0<\/strong>\n <\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\n 18.86\u00a0<\/strong>\n <\/td>\n\u00a0<\/td>\n<\/tr>\n
\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
2020<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
4th Quarter<\/td>\n\u00a0<\/td>\n$<\/td>\n0.52<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n$<\/td>\n0.52<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n$<\/td>\n0.21<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n$<\/td>\n21.79<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n$<\/td>\n15.53<\/td>\n\u00a0<\/td>\n<\/tr>\n
3rd Quarter<\/td>\n\u00a0<\/td>\n0.49<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n0.49<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n0.21<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n17.99<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n15.50<\/td>\n\u00a0<\/td>\n<\/tr>\n
2nd Quarter<\/td>\n\u00a0<\/td>\n0.48<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n0.48<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n0.21<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n20.67<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n14.50<\/td>\n\u00a0<\/td>\n<\/tr>\n
1st Quarter<\/td>\n\u00a0<\/td>\n0.49<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n0.49<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n0.21<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n25.68<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n13.74<\/td>\n\u00a0<\/td>\n<\/tr>\n<\/table>\n

(1) The prices shown are the high and low sale prices for the Company\u2019s common stock, which trades on the Nasdaq Global Select Market under the symbol WTBA. The market quotations, reported by Nasdaq, do not include retail markup, markdown or commissions.<\/p>\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
\u00a0<\/td>\n\u00a0<\/td>\nThree Months Ended June 30,<\/td>\n\u00a0<\/td>\nSix Months Ended June 30,<\/td>\n<\/tr>\n
\n SELECTED FINANCIAL MEASURES<\/strong>\n <\/td>\n\u00a0<\/td>\n\n 2021<\/strong>\n <\/td>\n\u00a0<\/td>\n2020<\/td>\n\u00a0<\/td>\n\n 2021<\/strong>\n <\/td>\n\u00a0<\/td>\n2020<\/td>\n<\/tr>\n
Return on average assets<\/td>\n\u00a0<\/td>\n\n 1.65\u00a0<\/strong>\n <\/td>\n\n %<\/strong>\n <\/td>\n\u00a0<\/td>\n1.19<\/td>\n%<\/td>\n\u00a0<\/td>\n\n 1.59\u00a0<\/strong>\n <\/td>\n\n %<\/strong>\n <\/td>\n\u00a0<\/td>\n1.23<\/td>\n%<\/td>\n<\/tr>\n
Return on average equity<\/td>\n\u00a0<\/td>\n\n 22.20\u00a0<\/strong>\n <\/td>\n\n %<\/strong>\n <\/td>\n\u00a0<\/td>\n15.68<\/td>\n%<\/td>\n\u00a0<\/td>\n\n 21.50\u00a0<\/strong>\n <\/td>\n\n %<\/strong>\n <\/td>\n\u00a0<\/td>\n15.61<\/td>\n%<\/td>\n<\/tr>\n
Net interest margin on a FTE basis (1)<\/sup><\/td>\n\u00a0<\/td>\n\n 2.99\u00a0<\/strong>\n <\/td>\n\n %<\/strong>\n <\/td>\n\u00a0<\/td>\n3.27<\/td>\n%<\/td>\n\u00a0<\/td>\n\n 3.08\u00a0<\/strong>\n <\/td>\n\n %<\/strong>\n <\/td>\n\u00a0<\/td>\n3.19<\/td>\n%<\/td>\n<\/tr>\n
Efficiency ratio (1)(2)<\/sup><\/td>\n\u00a0<\/td>\n\n 41.11\u00a0<\/strong>\n <\/td>\n\n %<\/strong>\n <\/td>\n\u00a0<\/td>\n41.33<\/td>\n%<\/td>\n\u00a0<\/td>\n\n 40.43\u00a0<\/strong>\n <\/td>\n\n %<\/strong>\n <\/td>\n\u00a0<\/td>\n43.41<\/td>\n%<\/td>\n<\/tr>\n
\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\nAs of June 30,<\/td>\n<\/tr>\n
\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\n 2021<\/strong>\n <\/td>\n\u00a0<\/td>\n2020<\/td>\n<\/tr>\n
Texas ratio(2)<\/sup><\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\n 5.31\u00a0<\/strong>\n <\/td>\n\n %<\/strong>\n <\/td>\n\u00a0<\/td>\n0.17<\/td>\n%<\/td>\n<\/tr>\n
Allowance for loan losses ratio<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\n 1.21\u00a0<\/strong>\n <\/td>\n\n %<\/strong>\n <\/td>\n\u00a0<\/td>\n0.97<\/td>\n%<\/td>\n<\/tr>\n
Allowance for loan losses ratio, excluding PPP loans (1)(3)<\/sup><\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\n 1.26\u00a0<\/strong>\n <\/td>\n\n %<\/strong>\n <\/td>\n\u00a0<\/td>\n1.08<\/td>\n%<\/td>\n<\/tr>\n
Tangible common equity ratio<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\n 7.54\u00a0<\/strong>\n <\/td>\n\n %<\/strong>\n <\/td>\n\u00a0<\/td>\n7.62<\/td>\n%<\/td>\n<\/tr>\n<\/table>\n

(1) Non-GAAP financial measures – see reconciliation below
(2) A lower ratio is more desirable
(3) Paycheck Protection Program (PPP)<\/p>\n

Definitions of ratios:<\/p>\n