secwatch.observer — SEC 8-K summary
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Issuer:     WEST BANCORPORATION INC (WTBA)
CIK:        0001166928
Form:       8-K
Filed at:   2023-04-27T23:59:59+00:00
Accession:  0001166928-23-000072
Event type: earnings
Sentiment:  negative
Materiality: 0.65
Item codes: 2.02, 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1166928/000116692823000072/0001166928-23-000072-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1166928/000116692823000072/wtba-20230427.htm
  HTML page:      https://secwatch.observer/filing/0001166928-23-000072

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