secwatch.observer — SEC 8-K summary
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Issuer:     WEST BANCORPORATION INC (WTBA)
CIK:        0001166928
Form:       8-K
Filed at:   2024-04-25T23:59:59+00:00
Accession:  0001166928-24-000051
Event type: earnings
Sentiment:  negative
Materiality: 0.60
Item codes: 2.02, 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

West Bancorp Q1 net income $5.8M ($0.35 EPS) down 26% YoY; net interest margin 1.88% vs 2.23%
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- Net income $5.8M ($0.35 diluted EPS) vs Q4 $4.5M ($0.27) and Q1 2023 $7.8M ($0.47).
- Net interest margin (tax-equivalent) 1.88%, down from 2.23% a year ago on cost of funds pressure.
- Deposits rose $91.3M, but brokered deposits increased $91M; excluding brokered, core deposits up only $0.3M.
- No credit loss expense in Q1; allowance for credit losses 0.95% of loans; nonaccrual loans $289K.
- Quarterly dividend $0.25 per share declared, payable May 22, 2024 to holders of record May 8, 2024.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1166928/000116692824000051/0001166928-24-000051-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1166928/000116692824000051/wtba-20240425.htm
  HTML page:      https://secwatch.observer/filing/0001166928-24-000051

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer