West Bancorporation(US:WTBA)2026-01-29 12:07Financial Performance - The Company reported 2025 net income of $32.6 million, or $1.92 per diluted common share, compared to $24.1 million, or $1.42 per diluted common share in 2024[1]. - Net income for the fourth quarter of 2025 was $7.4 million, or $0.43 per diluted common share, down from $9.3 million, or $0.55 per diluted common share in the third quarter of 2025[1]. - Net income for the year ended December 31, 2025, was $32,560,000, an increase of 35.5% compared to $24,050,000 in 2024[19]. - Basic earnings per common share increased to $1.92 in 2025 from $1.43 in 2024, reflecting a growth of 34.3%[19]. - Earnings per common share (diluted) for Q4 2025 was $0.43, compared to $0.55 in Q3 2025[12]. - Basic earnings per common share for the quarter ended December 31, 2025, was $0.44, a decrease from $0.55 in the previous quarter[18]. Deposits and Loans - Deposits increased by $162.0 million, or 4.9 percent, in the fourth quarter of 2025, with a total of $154.6 million in brokered deposits[4]. - Total deposits increased to $3,468,470 as of December 31, 2025, up 4.9% from $3,306,517 on September 30, 2025[17]. - Loans totaled $3,001,690 thousand in Q4 2025, slightly down from $3,008,888 thousand in Q3 2025[16]. - Total loans as of December 31, 2025, amounted to $3,001,690, a slight decrease of 0.3% from $3,008,888 on September 30, 2025[17]. - Net loans stood at $2,971,165 as of December 31, 2025, compared to $2,978,373 on September 30, 2025, reflecting a decrease of 0.2%[17]. Interest Income and Margin - The net interest margin for the fourth quarter of 2025 was 2.47 percent, up from 2.36 percent in the third quarter of 2025, with net interest income rising to $24.2 million[4]. - Net interest margin improved to 2.47% in Q4 2025 compared to 2.36% in Q3 2025[12]. - Total interest income for the year ended December 31, 2025, was $192,225,000, an increase of 1.1% from $190,066,000 in 2024[19]. - Net interest income after credit loss expense rose to $88,981,000 in 2025, compared to $70,362,000 in 2024, reflecting a significant increase of 26.6%[19]. - The net interest margin on a FTE basis for the year was 2.35%, up from 1.91% in 2024, showing an improvement of 23%[22]. Efficiency and Ratios - The efficiency ratio improved to 50.21 percent in the fourth quarter of 2025, compared to 54.06 percent in the third quarter of 2025[8]. - The efficiency ratio improved to 50.21% in Q4 2025 from 54.06% in Q3 2025[12]. - The efficiency ratio on an adjusted and FTE basis improved to 54.11% in 2025 from 63.25% in 2024, indicating enhanced operational efficiency[22]. - The total risk-based capital ratio increased to 12.77% in Q4 2025 from 12.54% in Q3 2025[12]. - The tangible common equity ratio was 6.42 percent as of December 31, 2025, compared to 6.40 percent at September 30, 2025[8]. Credit Quality - The Company recorded no credit loss expense in 2025, compared to $1.0 million in 2024, reflecting strong credit quality[8]. - The allowance for credit losses remained stable at $30,525 as of December 31, 2025, compared to $30,515 on September 30, 2025[17]. - Watch list loans increased from $38.7 million to $52.2 million from September 30, 2025, to December 31, 2025, primarily due to one commercial real estate loan[4]. Stock Performance - The closing stock price rose to $22.19 in Q4 2025 from $20.32 in Q3 2025[12]. Future Reporting - The Company plans to file its report on Form 10-K with the SEC on or before February 26, 2026, for a more detailed discussion of financial results[7].