West Bancorporation(WTBA) - 2025 Q3 - Quarterly Results

Financial Performance - Third quarter 2025 net income was $9.3 million, or $0.55 per diluted common share, up from $8.0 million, or $0.47 per diluted common share in the second quarter 2025, and $6.0 million, or $0.35 per diluted common share in the third quarter 2024[1]. - Net interest income for the third quarter of 2025 was $22.5 million, up from $21.4 million in the second quarter of 2025[7]. - Net income for the quarter was $9,314,000, representing a 16.7% increase from $7,979,000 in the previous quarter[14]. - Basic earnings per common share rose to $0.55, up from $0.47 in the previous quarter[14]. - For the nine months ended September 30, 2025, total interest income was $143,023,000, compared to $140,750,000 for the same period in 2024[15]. - Net income for the nine months was $25,135,000, compared to $16,953,000 in the same period last year, marking a 48.5% increase[15]. - Earnings per common share (diluted) for Q3 2025 was $0.55, up 17.14% from $0.47 in Q2 2025 and up 57.14% from $0.35 in Q3 2024[16]. Loans and Deposits - Loans increased by $42.5 million, or 1.4 percent, in the third quarter of 2025, primarily driven by an increase in commercial real estate and commercial loans[5]. - Total loans increased to $3,011,775 as of September 30, 2025, up from $2,969,106 on March 31, 2025, representing a growth of 1.04%[13]. - Commercial loans reached $1,912,235 as of September 30, 2025, showing an increase of 1.93% from $1,875,857 on March 31, 2025[13]. - Deposits decreased by $85.5 million, or 2.5 percent, in the third quarter of 2025, with brokered deposits totaling $204.8 million[7]. - Total deposits were $3,306,517 as of September 30, 2025, down 2.51% from $3,391,993 on March 31, 2025[13]. - Noninterest-bearing demand deposits were $512,869 as of September 30, 2025, a decrease of 1.93% from $521,990 on March 31, 2025[13]. Asset Management - Total assets as of September 30, 2025, were $3,985,480, a decrease of 1.75% from $4,056,669 on March 31, 2025[12]. - Average total assets for the quarter ended September 30, 2025, were $4,004,769, slightly down from $4,016,490 for the quarter ended June 30, 2025[12]. - The tangible common equity ratio increased to 6.40 percent as of September 30, 2025, compared to 5.94 percent as of June 30, 2025[7]. - Stockholders' equity increased to $255,133 as of September 30, 2025, up 5.00% from $240,930 on March 31, 2025[13]. Efficiency and Ratios - The efficiency ratio improved to 54.06 percent in the third quarter of 2025, down from 56.45 percent in the second quarter of 2025 and 63.28 percent in the third quarter of 2024[7]. - Return on average assets for Q3 2025 improved to 0.92%, compared to 0.80% in Q2 2025 and 0.60% in Q3 2024[16]. - Total risk-based capital ratio as of September 30, 2025, was 12.54%, slightly up from 12.53% in Q2 2025[16]. - Common equity tier 1 ratio as of September 30, 2025, was 9.37%, up from 9.32% in Q2 2025[16]. - Loans to total deposits ratio increased to 91.00% in Q3 2025, compared to 87.45% in Q2 2025[16]. Dividends and Income - The company declared a regular quarterly dividend of $0.25 per common share, payable on November 19, 2025[1]. - Dividends per common share remained stable at $0.25 for Q3 2025, consistent with previous quarters[16]. - Noninterest income for Q3 2025 was $2,503,000, up from $2,410,000 in Q2 2025[22]. - Noninterest income for the nine months increased to $7,156,000 from $7,004,000 year-over-year[15].