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WTBA

West Bancorporation, Inc.

WTBA

West Bancorporation, Inc. • NASDAQ
$22.22 ▼ -0.89% (-0.20)
Market Cap $376.42 M
52w High $24.23
52w Low $17.31
Dividend Yield 1.00%
P/E 11.69
Volume 16.23K
Outstanding Shares 16.94M

Income Statement

Period Revenue Operating Expense Net Income Net Profit Margin Earnings Per Share EBITDA
Q3-2025 $51.239M ▲ $13.361M ▲ $9.314M ▲ 18.178% ▲ $0.55 ▲ $13.365M ▲
Q2-2025 $50.197M ▲ $13.31M ▲ $7.979M ▲ 15.895% ▼ $0.47 $12.242M ▲
Q1-2025 $48.177M ▼ $12.861M ▼ $7.842M ▲ 16.277% ▲ $0.47 ▲ $11.91M ▲
Q4-2024 $50.578M ▼ $13.231M ▲ $7.097M ▲ 14.032% ▲ $0.42 ▲ $8.39M ▼
Q3-2024 $50.803M $12.724M $5.952M 11.716% $0.35 $9.294M

Balance Statement

Period Cash & Short-term Total Assets Total Liabilities Total Equity
Q3-2025 $471.215M ▼ $3.985B ▼ $3.73B ▼ $255.133M ▲
Q2-2025 $585.986M ▲ $4.057B ▲ $3.816B ▲ $240.93M ▲
Q1-2025 $554.504M ▼ $3.987B ▼ $3.749B ▼ $237.873M ▲
Q4-2024 $788.043M ▲ $4.015B ▲ $3.787B ▲ $227.875M ▼
Q3-2024 $755.548M $3.989B $3.753B $235.353M

Cash Flow Statement

Period Net Income Cash From Operations Cash From Investing Cash From Financing Net Change Free Cash Flow
Q3-2025 $9.314M ▲ $11.41M ▼ $-32.718M ▼ $-90.961M ▼ $-112.269M ▼ $10.761M ▼
Q2-2025 $7.979M ▲ $13.527M ▲ $59.075M ▲ $61.989M ▲ $134.591M ▲ $12.763M ▲
Q1-2025 $7.842M ▲ $9.749M ▼ $-2.949M ▼ $-39.668M ▼ $-32.868M ▼ $8.257M ▲
Q4-2024 $7.097M ▲ $10.752M ▼ $46.338M ▲ $28.585M ▲ $85.675M ▲ $8.184M ▲
Q3-2024 $5.952M $12.933M $-11.621M $6.672M $7.984M $6.958M

Revenue by Products

Product Q4-2024Q1-2025Q2-2025Q3-2025
Debit Card
Debit Card
 $0 ▲$0 ▲$0 ▲$0 ▲
Fiduciary and Trust
Fiduciary and Trust
 $0 ▲$0 ▲$0 ▲$0 ▲
Service
Service
 $0 ▲$0 ▲$0 ▲$0 ▲

Five-Year Company Overview

Income Statement

Income Statement Revenue has been edging higher over the past five years, but profits have not kept pace. Earnings today are noticeably below the peak a few years ago, even though the top line is larger. That points to pressure on margins, likely from higher funding costs, competition for deposits, or credit and operating expenses creeping up. The recent pattern looks more like stabilization after a step down in profitability than a strong recovery. Overall, this is a steady but not fast‑growing income profile, with efficiency and credit discipline remaining key swing factors.

Balance Sheet

Balance Sheet The balance sheet has expanded at a measured pace, with total assets growing while shareholder equity has held fairly steady. Cash levels have recently improved from prior lows, which adds some flexibility, but the bank is operating with more borrowing than it did several years ago. That means leverage is higher than in the past, even if still manageable for a regional bank. The story here is one of controlled growth and conservative capital levels, but with less balance‑sheet cushion than during the earlier period of lower debt.

Cash Flow

Cash Flow Core cash generation from the business has been consistently positive, which is a good sign for the underlying franchise. Free cash flow dipped into negative territory during a recent year of heavier investment but has since returned to positive, although with a thin buffer. Capital spending has clearly stepped up versus the past, reflecting projects like new facilities and systems. In short, cash flow supports ongoing operations and modest investments, but does not leave a wide margin for aggressive expansion or large unexpected shocks.

Competitive Edge

Competitive Edge West Bancorporation operates as a classic community and regional bank, relying on strong local relationships rather than national scale. Its edge comes from deep roots in Iowa and Minnesota, a focus on small and mid‑sized businesses, and experienced bankers who know their markets well. The “branch‑lite” expansion strategy into new cities uses targeted teams instead of a dense branch network, keeping costs in check while building presence. Against that, the bank faces intense competition from larger regional and national banks, credit unions, and increasingly digital‑first competitors, all while being concentrated in a relatively narrow geographic footprint. Its conservative credit culture and reputation help, but they must continually offset these structural pressures.

Innovation and R&D

Innovation and R&D This is not a technology pioneer, and it does not appear to invest heavily in proprietary innovation in the way a fintech would. Instead, it adopts proven banking technologies—online and mobile tools, treasury management systems, remote deposit—and focuses on applying them well within a relationship‑driven model. Its differentiation comes more from tailored treasury and cash‑management solutions, high‑touch wealth and trust services, and banker expertise than from unique software. The risk is that, over time, customers may expect more advanced digital experiences, so the bank’s strategy hinges on steadily upgrading its digital offerings without trying to reinvent the wheel.

Summary

West Bancorporation looks like a steady, conservatively run regional bank that has grown its balance sheet and revenues gradually, but with profitability down from earlier highs. Cash generation is sound but not abundant, and recent years show an uptick in investment spending, likely tied to its expansion and infrastructure projects. Competitively, the bank leans on long‑standing community relationships, experienced bankers, and a targeted, cost‑aware growth strategy in Iowa and Minnesota. It is a practical adopter of technology rather than a disruptor, which fits its model but requires ongoing incremental upgrades to keep pace with customer expectations. Overall, the story is one of disciplined community banking with measured growth, moderate financial pressure on margins, and a continued need to balance conservatism with competitiveness in a changing banking landscape.

NEWS

October 23, 2025 · 8:30 AM UTC

West Bancorporation, Inc. Announces Third Quarter 2025 Financial Results and Declares Quarterly Dividend

Read more

September 19, 2025 · 8:30 AM UTC

West Bancorporation, Inc. to Announce Quarterly Results, Hold Conference Call

Read more