West Bancorp Q2 net income $5.9M ($0.35 EPS), down 54% YoY; NIM falls to 2.02%

WEST BANCORPORATION INC

2023-Q2 EPS reported $0.82

Net income $5.9M ($0.35 diluted EPS) vs Q1 $7.8M ($0.47) and Q2 2022 $12.7M ($0.75).
Net interest margin fell to 2.02% from 2.23% in Q1 and 2.93% a year ago, driven by rising deposit costs.
Deposits increased $37.9M in Q2; estimated uninsured deposits ~27.5% of total.
Credit quality remains pristine: only $229K loan past due and $309K nonaccrual.
Board declared $0.25 quarterly dividend, payable Aug 23, 2023 to record Aug 9.

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 0.9

WEST BANCORPORATION INC reported second quarter 2023 results: net income $5.9 million, EPS $0.35 per diluted common share.

Period: second quarter 2023
Net income: $5.9 million
EPS: $0.35 per diluted common share
Result: reported results

Exact text from the filing

today reported second quarter 2023 net income of $5.9 million, or $0.35 per diluted common share

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Source: SEC EDGAR

accession 0001166928-23-000110

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