West Bancorp Q1 net income $7.8M ($0.47 EPS), down from $13.2M year ago; dividend steady

WEST BANCORPORATION INC

2023-Q1 EPS reported $0.47

Net income $7.8M ($0.47 diluted EPS) vs $8.9M ($0.53) in Q4 2022 and $13.2M ($0.78) in Q1 2022.
Net interest margin fell to 2.23% from 2.49% Q4 and 2.85% year ago; cost of funds increased rapidly.
Deposits declined $82M in Q1; brokered deposits decreased $38.5M to $234.2M; borrowings rose sharply.
Credit quality remains strong: no loans >30 days past due for seventh consecutive quarter; nonaccrual loans only $316K.
Regular quarterly dividend of $0.25 per share declared, payable May 24, 2023; unchanged from prior.

item 2.02 item 7.01 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.95

WEST BANCORPORATION INC reported first quarter 2023 results: net income $7.8 million, EPS $0.47 per diluted common share.

Period: first quarter 2023
Net income: $7.8 million
EPS: $0.47 per diluted common share
Result: reported results

Exact text from the filing

first quarter 2023 net income of $7.8 million, or $0.47 per diluted common share

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Source: SEC EDGAR

accession 0001166928-23-000072

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