West Bancorporation (WTBA) investor relations material

Executive summary

• Net income for Q1 2026 was $10.6 million, up 34.8%–35% year-over-year, with diluted EPS of $0.61 and annualized ROAA of 1.06% and ROAE of 15.91%.

• Total assets reached $4.0 billion, gross loans $3.0 billion, and total deposits $3.3 billion as of March 31, 2026.

• Credit quality remained pristine, with nonperforming assets at 0.00% and no loans past due over 30 days.

• Declared a $0.25 per share quarterly dividend, payable May 20, 2026.

• Continued investments in technology and expansion in Minnesota and Iowa markets, leveraging relationship-based banking.

Financial highlights

• Net interest income rose 16.9% year-over-year to $24.4 million, with net interest margin increasing to 2.59%.

• Efficiency ratio improved to 49.85% from 56.37% year-over-year.

• Noninterest income was $2.6 million, with growth in trust services revenue.

• Noninterest expenses increased 3%–3.1% year-over-year, mainly due to higher salaries and benefits.

• Loans outstanding decreased 0.3% to $2.99 billion, while deposits fell 3.8% to $3.33 billion during the quarter.

Outlook and guidance

• Margin expected to improve further as $250 million in loans and investments reprice over the next 12 months.

• Management focuses on conservative organic growth, disciplined risk management, and aims for top-tier performance in ROE, efficiency, and asset quality.

• Expense management to remain in the ordinary course, with no significant increases anticipated.

• Anticipates continued core deposit and loan growth, especially in Minnesota, as economic conditions improve.