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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, Inc. (Nasdaq: WTBA) reported a strong second quarter 2021 with a net income of $13.2 million ($0.79 per diluted share), up from $8.0 million ($0.48) in Q2 2020. For the first half of 2021, net income reached $25.0 million ($1.49 per diluted share), compared to $16.1 million ($0.97) in H1 2020. The Board declared a quarterly dividend of $0.24 per share, payable on August 25, 2021. The company achieved loan growth of 6.0% in H1 2021 and improved credit quality, leading to a negative provision for loan losses of $2.0 million in Q2.
West Bancorporation, Inc. (Nasdaq: WTBA), the parent company of West Bank, is set to report its second-quarter results on July 29, 2021, before market opening. A follow-up conference call to discuss these results will be held on July 30, 2021, at 10:00 a.m. Central Time. Interested parties can join the call at 888-339-0814, with a replay available until August 13, 2021, by calling 877-344-7529 with the passcode 10150541. West Bank has been serving customers since 1893, operating multiple branches across Iowa and Minnesota.
West Bancorporation (Nasdaq: WTBA) announced the retirement of Douglas R. Gulling as Executive Vice President and CFO, effective September 30, 2021. He will assist in a non-officer role through 2022. Jane M. Funk will succeed him as CFO effective October 1, 2021. Funk, who has been with the Company since 2014, previously served as Controller and Chief Accounting Officer. CEO David Nelson expressed confidence in Funk's qualifications and the transition plan, emphasizing careful succession planning.
West Bancorporation (WTBA) reported a first quarter 2021 net income of $11.8 million, or $0.70 per diluted share, an increase from $8.1 million or $0.49 in Q1 2020. The Board declared a quarterly dividend of $0.24 per share, up by $0.02 from the previous quarter, marking a record high. This dividend is payable on May 26, 2021, to stockholders of record on May 12, 2021. CEO Dave Nelson highlighted the bank's strong capital and credit quality, and the company was ranked 10th among large community banks by S&P Global Market Intelligence.
West Bancorporation, Inc. (Nasdaq: WTBA) will report its first-quarter 2021 results on April 29, 2021, before market opening. A conference call to discuss these results is scheduled for April 30, 2021, at 10:00 a.m. Central Time. Interested parties can join the call by calling 888-339-0814. A recording will be accessible until May 14, 2021, using the passcode 10150543. West Bancorporation operates West Bank, which provides lending, deposit, and trust services primarily in Iowa and Minnesota.
West Bancorporation (Nasdaq: WTBA) reported a 2020 net income of $32.7 million or $1.98 per diluted share, showing a 14% increase from $28.7 million in 2019. Fourth-quarter net income reached $8.6 million, up from $7.6 million in the previous year. The company declared a quarterly dividend of $0.22 per share, payable on February 24, 2021. Total deposits grew by 34.1% to $2.7 billion. Despite challenges, including a $12 million loan loss provision, the company continues to exhibit strong capital and earnings.
West Bancorporation, Inc. (Nasdaq: WTBA) will report its fourth-quarter 2020 results on January 28, 2021, before market opening. A conference call to discuss these results is scheduled for 10:00 a.m. Central Time on January 29, 2021. Interested participants can join the call at 888-339-0814. A replay of the call will be available until February 12, 2021, using the passcode 10150540. West Bank has been serving customers since 1893, focusing on community banking, and operates several branches in Iowa and Minnesota.
West Bancorporation (WTBA) reported a third quarter 2020 net income of $8.1 million, or $0.49 per diluted share, up from $7.5 million in Q3 2019. For the first nine months, net income rose to $24.2 million compared to $21.1 million a year prior. A quarterly dividend of $0.21 per share was declared, payable on November 25, 2020. Despite challenges from COVID-19, the company maintained strong credit quality and has expanded its loan portfolio, increasing average balances by $208.1 million year-over-year.
West Bancorporation, Inc. (Nasdaq: WTBA) will release its third-quarter 2020 results on October 29, 2020, before market opening. The results will be discussed in a conference call on October 30, 2020, at 10:00 a.m. Central Time, accessible at 888-339-0814. A recording will be available until November 13, 2020. West Bank, a subsidiary of West Bancorporation, has served customers since 1893, focusing on lending and deposit services in Iowa and Minnesota.
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.
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