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West Bancorporation Inc. (symbol: WTBA) is a distinguished financial institution known for its comprehensive range of banking and trust services aimed at both businesses and consumers. With assets totaling $1.4 billion, West Bancorporation operates primarily in central and eastern Iowa and Rochester, Minnesota, with key branches located in Des Moines, Iowa City, Coralville, and Rochester.
Founded in 1893, the company has a long-standing tradition of serving local communities, embodying the essence of a 'community' bank. West Bank has earned a solid reputation for its responsiveness to community needs and the dedication of its employees to civic involvement. From small personal accounts to large corporate clients, West Bank ensures top-notch customer service for all.
West Bancorporation offers a wide range of deposit services such as checking, savings, money market accounts, and time certificates of deposit. In addition to traditional banking services, the company also provides online and mobile banking, making banking more convenient for its customers.
For business customers, West Bank offers specialized treasury management services. These include cash management, client-generated automated clearing house transactions, remote deposit, and fraud protection services. The bank also provides merchant credit card processing and corporate credit card services, demonstrating its commitment to meeting the comprehensive banking needs of its clients.
Recent achievements and projects at West Bancorporation include the enhancement of digital banking platforms to better serve tech-savvy customers and the introduction of new financial products tailored to meet evolving market demands. The company remains focused on innovation and community engagement, aiming to retain its status as a trusted financial partner well into the 21st century.
West Bancorporation reported third quarter 2024 net income of $6.0 million, or $0.35 per diluted share, compared to $5.2 million in Q2 2024. The company declared a quarterly dividend of $0.25 per share. Key highlights include loan growth of $22.4 million (3.0% annualized), deposit increase of $97.6 million (3.1%), and a net interest margin of 1.91%. The company maintained strong credit quality with nonperforming assets at 0.01% of total assets. The efficiency ratio improved to 63.28% from 67.14% in Q2 2024, driven by increased net interest income.
West Bancorporation, Inc. (Nasdaq: WTBA), the parent company of West Bank, has announced its plans to report third quarter 2024 results on Thursday, October 24, 2024, before markets open. The company will host a conference call at 2:00 p.m. Central Time on the same day to discuss the results.
Interested parties can join the call using the phone number 800-715-9871 and conference ID 7846129. A recording will be available until November 7, 2024, by dialing 800-770-2030 with the same conference ID.
West Bancorporation, headquartered in West Des Moines, Iowa, operates through its subsidiary West Bank, which has been serving customers since 1893. The community bank focuses on lending, deposit services, and trust services for consumers and small- to medium-sized businesses. It has six offices in the greater Des Moines area, one in Coralville, Iowa, and four offices in Minnesota.
West Bancorporation (Nasdaq: WTBA) reported Q2 2024 net income of $5.2 million, or $0.31 per diluted share, down from $5.8 million in Q1 2024 and $5.9 million in Q2 2023. The company declared a quarterly dividend of $0.25 per share. Key highlights include:
- Loans increased by $18.6 million (2.5% annualized) in Q2 2024
- Deposits grew by $115.9 million (3.8%) in Q2 2024
- Net interest margin was 1.86% for Q2 2024
- Efficiency ratio increased to 67.14% in Q2 2024
- Nonperforming assets to total assets remained low at 0.01%
The company's credit quality remains strong, with no credit loss expense recorded in Q1 or Q2 2024. West Bancorporation's strategic investments in new buildings are expected to drive future growth.
West Bancorporation (Nasdaq: WTBA), the parent company of West Bank, will announce its second-quarter results for 2024 on Thursday, July 25, before the market opens. The company will hold a conference call at 2:00 p.m. Central Time the same day to discuss the results. The call can be accessed by dialing 800-715-9871 and using the conference ID 8511345. A replay will be available until August 8, 2024, by calling 800-770-2030 and using the same conference ID. West Bank, a community bank serving customers since 1893, focuses on lending, deposit, and trust services for consumers and small- to medium-sized businesses. It operates six offices in the greater Des Moines, Iowa area, one in Coralville, Iowa, and four in Minnesota.
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