West Bancorporation Q3 net income $5.9M ($0.35/diluted), down 49% YoY

WEST BANCORPORATION INC

2023-Q3 EPS reported $1.17

Net income $5.9M, EPS $0.35, vs $11.6M ($0.69) in Q3 2022; dividend $0.25/share payable Nov 22.
Net interest margin (FTE) fell to 1.91% from 2.02% QoQ and 2.78% YoY; net interest income $16.6M.
Loans grew $42.7M (6.1% annualized) in Q3; deposits declined $80.8M (-2.8%).
Credit quality strong: no loans past due >30 days, one nonaccrual loan $303K; ACL 0.99% of loans.
Efficiency ratio improved to 60.83% from 62.83% QoQ; tangible common equity ratio 5.51%.

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 third quarter 2023 results: net income $5.9 million, EPS $0.35 per diluted common share.

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

Exact text from the filing

today reported third quarter 2023 net income of $5.9 million, or $0.35 per diluted common share, compared to second quarter 2023 net income of $5.9 million, or $0.35 per diluted common share, and third quarter 2022 net income of $11.6 million, or $0.69 per diluted common share.

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Source: SEC EDGAR

accession 0001166928-23-000118

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