WTBA · West Bancorporation, Inc.

West Bancorporation, Inc. delivered strong Q1 2026 results with net income rising to $10.6 million or $0.61 per diluted share, a significant improvement from $7.4 million or $0.43 in Q4 2025 and $7.8 million or $0.46 in Q1 2025. This performance was driven by net interest income growth to $24.4 million from $24.2 million prior quarter and $20.9 million year-ago, supported by net interest margin expansion to 2.59% (fully tax-equivalent basis) from 2.47% and 2.28%, respectively. Key margin drivers included a 14 basis point drop in deposit costs quarter-over-quarter and 40 basis points year-over-year, alongside lower borrowed funds balances. Efficiency improved markedly to 49.85% from 50.21% prior quarter and 56.37% year-ago, reflecting higher net interest income relative to expenses. Balance sheet showed resilience with pristine credit quality—no nonaccrual or past-due loans, watch list loans down to $41.3 million after a $11.4 million payoff, and stable 1.02% ACL ratio. Loans dipped 0.3% linked quarter due to payoffs and reclassifications, while deposits fell 3.8% amid core depositor fluctuations and brokered runoff, with uninsured deposits at 27.0%. Tangible common equity strengthened to 6.75%. Management emphasized relationship strategies boosting profitability, strong capital/liquidity, and continued dividend of $0.25 per share. No forward guidance provided; refer to 10-Q for details.