West Bancorporation(US:WTBA) Globenewswireยท2025-04-24 12:30Core Insights - West Bancorporation, Inc. reported a net income of $7.8 million for Q1 2025, an increase from $7.1 million in Q4 2024 and $5.8 million in Q1 2024, reflecting improved financial performance [1][2][5] - The Board of Directors declared a quarterly dividend of $0.25 per common share, payable on May 21, 2025 [1] Financial Performance - Net interest margin improved to 2.28% in Q1 2025 from 1.98% in Q4 2024 and 1.88% in Q1 2024, driven by a decrease in deposit rates [5][9][20] - Net interest income for Q1 2025 was $20.9 million, up from $19.4 million in Q4 2024 and $16.8 million in Q1 2024 [5][18] - The efficiency ratio improved to 56.37% in Q1 2025 from 60.79% in Q4 2024 and 62.04% in Q1 2024, indicating better operational efficiency [5][9][20] Loan and Deposit Trends - Loans increased by $11.6 million in Q1 2025, primarily due to growth in commercial and commercial real estate loans, despite a decline in construction loans [5][9] - Total deposits decreased by $33.1 million, or 1.0%, in Q1 2025, with brokered deposits increasing to $335.5 million from $266.4 million in Q4 2024 [5][9] - Year-over-year, loans increased by $36.3 million, or 1.2%, while deposits rose by $259.5 million, or 8.5% [7][9] Credit Quality - The company maintained strong credit quality metrics, with no loans past due greater than 90 days as of March 31, 2025 [2][5] - The allowance for credit losses to total loans remained stable at 1.01% [5][9] Shareholder Information - Basic earnings per common share for Q1 2025 were $0.47, up from $0.42 in Q4 2024 and $0.35 in Q1 2024 [18][20] - The tangible common equity ratio increased to 5.97% as of March 31, 2025, compared to 5.68% at the end of Q4 2024 [9][20]