West Bancorporation Q1 2022 net income rises 12% to $13.2M, declares $0.25 dividend

WEST BANCORPORATION INC

2022-Q1 EPS reported $0.78

Net income of $13.2M ($0.78 diluted EPS) vs $11.8M ($0.70) in Q1 2021, a record first quarter.
Declared regular quarterly dividend of $0.25 per share, payable May 25 to holders of record May 11.
Recorded negative provision for loan losses of $750K due to sustained loan performance and improvement in classified loans.
Total assets grew to $3.5B at March 31, 2022 from $3.2B a year earlier.
Opened new bank building in St. Cloud, MN; other building projects in planning.

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