$WTBA

WEST BANCORPORATION INC

CIK:0001166928|SEC Filings

Consolidated Statements of Income - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
Consolidated Statements of Income - USD ($) $ in Thousands	Jun. 30, 2026	Jun. 30, 2025	Jun. 30, 2026	Jun. 30, 2025
Interest income:
Loans, including fees	$ 42,031	$ 41,666	$ 82,977	$ 82,654
Securities:
Taxable	2,097	2,685	4,240	5,473
Tax-exempt	636	742	1,274	1,485
Deposits with banks	2,130	2,847	4,177	4,464
Securities purchased under agreements to resell	1,580	22	3,197	22
Total interest income	48,474	47,962	95,865	94,098
Interest expense:
Deposits	19,184	22,676	38,445	44,099
Subordinated notes	1,110	1,104	2,214	2,209
Federal Home Loan Bank advances	2,274	2,259	4,518	4,494
Long-term debt	385	504	782	1,022
Total interest expense	22,953	26,543	45,959	51,824
Net interest income	25,521	21,419	49,906	42,274
Credit loss expense (benefit)	0	0	0	0
Net interest income after credit loss expense	25,521	21,419	49,906	42,274
Noninterest income:
Increase in cash value of bank-owned life insurance	313	295	621	577
Other income	245	350	501	617
Total noninterest income	2,596	2,410	5,150	4,653
Noninterest expense:
Salaries and employee benefits	7,987	7,343	15,619	14,347
Occupancy and equipment	2,006	2,034	4,012	3,997
Technology and software	545	643	1,141	1,260
Technology and software	822	791	1,596	1,577
FDIC insurance	444	670	917	1,257
Professional fees	298	303	576	611
Other expenses	1,665	1,701	3,371	3,499
Total noninterest expense	13,767	13,485	27,232	26,548
Income before income taxes	14,350	10,344	27,824	20,379
Income taxes	3,277	2,365	6,179	4,558
Net income	$ 11,073	$ 7,979	$ 21,645	$ 15,821
Basic earnings per common share	$ 0.65	$ 0.47	$ 1.27	$ 0.94
Diluted earnings per common share	$ 0.64	$ 0.47	$ 1.26	$ 0.93
Service charges on deposit accounts [Member]
Noninterest income:
Revenue from contract with customer, including assessed tax	$ 476	$ 486	$ 984	$ 957
Debit card usage fees [Member]
Noninterest income:
Revenue from contract with customer, including assessed tax	514	478	986	924
Trust services [Member]
Noninterest income:
Revenue from contract with customer, including assessed tax	$ 1,048	$ 801	$ 2,058	$ 1,578

Consolidated Statements of Cash Flows - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2026	Jun. 30, 2025
Cash Flows from Operating Activities:
Net income	$ 21,645	$ 15,821
Adjustments to reconcile net income to net cash provided by operating activities:
Credit loss expense (benefit)	0	0
Net amortization and accretion	1,477	1,542
Stock-based compensation	1,359	1,286
Increase in cash value of bank-owned life insurance	(621)	(577)
Depreciation	2,332	2,231
Provision for deferred income taxes	159	994
Change in assets and liabilities:
Decrease in accrued interest receivable	722	196
Decrease in other assets	1,082	2,435
Decrease in accrued expenses and other liabilities	(904)	(652)
Net cash provided by operating activities	27,251	23,276
Cash Flows from Investing Activities:
Proceeds from principal paydowns, maturities and calls of securities available for sale	20,416	19,954
Purchases of Federal Home Loan Bank stock	(213)	(234)
Proceeds from redemption of Federal Home Loan Bank stock	212	52
Net decrease in loans	51,581	38,610
Purchases of premises and equipment	(790)	(2,256)
Net cash used in investing activities	71,206	56,126
Cash Flows from Financing Activities:
Net increase (decrease) in deposits	(123,570)	34,397
Principal payments on long-term debt	(2,500)	(2,500)
Common stock dividends paid	(8,496)	(8,444)
Restricted stock units withheld for payroll taxes	(1,278)	(1,132)
Net cash provided by (used in) financing activities	(135,844)	22,321
Net increase (decrease) in cash and cash equivalents	(37,387)	101,723
Cash and Cash Equivalents
Beginning	471,086	243,478
Ending	433,699	345,201
Supplemental Disclosures of Cash Flow Information:
Cash payments for interest	45,917	52,524
Cash payments for income taxes	$ 5,240	$ 650

Consolidated Balance Sheets - USD ($) $ in Thousands	Jun. 30, 2026	Dec. 31, 2025
Cash, Cash Equivalents, and Federal Funds Sold [Abstract]
Cash and due from banks	$ 30,986	$ 25,171
Interest-earning deposits with banks	260,633	324,502
Securities purchased under agreements to resell	142,080	121,413
Cash and cash equivalents	433,699	471,086
Securities available for sale, fair value	446,575	468,447
Federal Home Loan Bank stock, at cost	15,168	15,167
Loans	2,950,114	3,001,690
Allowance for credit losses	30,530	30,525
Loans, net	2,919,584	2,971,165
Premises and equipment, net	106,626	108,380
Accrued interest receivable	11,260	11,982
Bank-owned life insurance	46,751	46,192
Deferred tax assets, net	25,152	25,925
Other assets	24,849	23,900
Total assets	4,029,664	4,142,244
Deposits:
Noninterest-bearing demand	553,660	540,358
Interest-bearing demand	506,574	577,814
Savings and money market	1,805,507	1,839,508
Time	479,159	510,790
Total deposits	3,344,900	3,468,470
Subordinated notes, net	80,287	80,156
Federal Home Loan Bank advances	270,000	270,000
Long-term debt	23,750	26,250
Accrued expenses and other liabilities	29,685	31,383
Total liabilities	3,748,622	3,876,259
COMMITMENTS AND CONTINGENCIES (NOTE 8)
STOCKHOLDERS' EQUITY
Preferred stock, $0.01 par value; authorized 50,000,000 shares; no shares issued and outstanding at June 30, 2026 and December 31, 2025	0	0
Common stock, no par value; authorized 50,000,000 shares; 17,043,743 and 16,940,785 shares issued and outstanding at June 30, 2026 and December 31, 2025, respectively	3,000	3,000
Additional paid-in capital	37,312	37,231
Retained earnings	307,408	294,259
Accumulated other comprehensive loss	(66,678)	(68,505)
Total stockholders' equity	281,042	265,985
Total liabilities and stockholders' equity	$ 4,029,664	$ 4,142,244
Preferred stock, par value ($ per share)	$ 0.01	$ 0.01
Preferred stock, shares authorized	50,000,000	50,000,000
Preferred stock, shares issued	0	0
Preferred stock, shares outstanding	0	0
Common Stock, No Par Value	$ 0	$ 0
Common stock, shares authorized	50,000,000	50,000,000
Common stock, shares issued	17,043,743	16,940,785
Common stock, shares outstanding	17,043,743	16,940,785