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West Bancorporation (WTBA) Financials

West Bancorporation logo
$19.98 +1.14 (+6.05%)
Closing price 08/22/2025 04:00 PM Eastern
Extended Trading
$19.98 +0.00 (+0.01%)
As of 08/22/2025 06:23 PM Eastern
Extended trading is trading that happens on electronic markets outside of regular trading hours. This is a fair market value extended hours price provided by Polygon.io. Learn more.
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Annual Income Statements for West Bancorporation

Annual Income Statements for West Bancorporation

This table shows West Bancorporation's income and expenses over time, based on annual financial data. All values are USD millions unless otherwise specified.

Metric 2022 2023 2024
Period end date 12/31/2022 12/31/2023 12/31/2024
Net Income / (Loss) Attributable to Common Shareholders		 46 24 24
Consolidated Net Income / (Loss)		 46 24 24
Net Income / (Loss) Continuing Operations		 46 24 24
Total Pre-Tax Income 		59 30 27
Total Revenue		 102 79 80
Net Interest Income / (Expense)		 92 69 71
Total Interest Income		 123 160 190
Loans and Leases Interest Income		 107 143 166
Investment Securities Interest Income		 16 17 16
Federal Funds Sold and Securities Borrowed Interest Income		 0.20 0.17 7.60
Total Interest Expense		 32 91 119
Deposits Interest Expense		 23 67 97
Long-Term Debt Interest Expense		 7.22 15 17
Federal Funds Purchased and Securities Sold Interest Expense		 1.76 9.53 4.25
Total Non-Interest Income		 10 10 8.43
Other Service Charges		 2.37 1.86 1.27
Net Realized & Unrealized Capital Gains on Investments		 0.00 0.26 -1.17
Other Non-Interest Income		 7.84 7.95 8.34
Provision for Credit Losses		 -2.50 0.70 1.00
Total Non-Interest Expense		 45 49 51
Salaries and Employee Benefits		 26 27 28
Net Occupancy & Equipment Expense		 9.65 11 13
Property & Liability Insurance Claims		 1.00 1.75 2.56
Other Operating Expenses		 8.57 9.16 8.00
Income Tax Expense		 13 5.65 3.39
Basic Earnings per Share		 $2.79 $1.44 $1.43
Weighted Average Basic Shares Outstanding		 16.64M 16.73M 16.83M
Diluted Earnings per Share		 $2.76 $1.44 $1.42
Weighted Average Diluted Shares Outstanding		 16.64M 16.73M 16.83M
Weighted Average Basic & Diluted Shares Outstanding		 16.64M 16.73M 16.83M
Cash Dividends to Common per Share		 $1.00 $1.00 $1.00

Quarterly Income Statements for West Bancorporation

This table shows West Bancorporation's income and expenses over time, based on quarterly financial data. All values are USD millions unless otherwise specified.

Metric Q3 2022 Q4 2022 Q1 2023 Q2 2023 Q3 2023 Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025
Period end date 9/30/2022 12/31/2022 3/31/2023 6/30/2023 9/30/2023 12/31/2023 3/31/2024 6/30/2024 9/30/2024 12/31/2024 3/31/2025
Net Income / (Loss) Attributable to Common Shareholders		 12 8.95 7.84 5.86 5.91 4.53 5.81 5.19 5.95 7.10 7.84
Consolidated Net Income / (Loss)		 12 8.95 7.84 5.86 5.91 4.53 5.81 5.19 5.95 7.10 7.84
Net Income / (Loss) Continuing Operations		 12 8.95 7.84 5.86 5.91 4.53 5.81 5.19 5.95 7.10 7.84
Total Pre-Tax Income 		15 11 9.58 7.26 7.35 5.60 7.18 6.38 7.43 6.45 10
Total Revenue		 26 23 22 20 19 18 19 20 20 21 23
Net Interest Income / (Expense)		 23 21 19 17 17 16 17 17 18 19 21
Total Interest Income		 32 35 37 39 41 43 45 48 49 49 46
Loans and Leases Interest Income		 28 31 33 35 37 38 40 42 43 42 41
Investment Securities Interest Income		 4.04 4.29 4.20 4.32 4.31 4.39 4.23 4.20 4.07 3.75 3.53
Federal Funds Sold and Securities Borrowed Interest Income		 0.03 0.02 0.03 0.03 0.03 0.09 0.15 1.67 2.04 3.74 1.62
Total Interest Expense		 9.17 14 18 22 24 26 28 30 31 30 25
Deposits Interest Expense		 6.29 11 13 16 17 20 22 24 26 26 21
Short-Term Borrowings Interest Expense		 0.66 - 2.08 2.26 3.17 - 2.18 1.95 0.12 - 0.00
Long-Term Debt Interest Expense		 1.57 4.42 1.80 1.85 1.81 9.49 1.75 1.73 1.71 12 1.62
Federal Funds Purchased and Securities Sold Interest Expense		 0.65 -0.15 1.26 1.62 2.33 4.32 2.33 2.72 2.75 -3.54 2.24
Total Non-Interest Income		 3.28 2.27 2.96 2.39 2.82 1.90 2.30 2.35 2.36 1.43 2.24
Other Service Charges		 1.20 0.36 0.36 0.42 0.77 0.31 0.33 0.32 0.29 0.33 0.27
Other Non-Interest Income		 2.08 1.90 1.91 1.97 2.05 2.02 1.97 2.02 2.07 2.27 1.98
Provision for Credit Losses		 0.00 - 0.00 0.00 0.20 0.50 0.00 0.00 0.00 1.00 0.00
Total Non-Interest Expense		 11 12 12 12 12 12 12 13 13 13 13
Salaries and Employee Benefits		 6.58 6.55 6.87 7.03 6.70 6.47 6.49 7.17 6.82 7.11 7.00
Net Occupancy & Equipment Expense		 2.61 2.46 2.48 2.63 2.64 2.90 2.86 3.34 3.42 3.59 3.37
Property & Liability Insurance Claims		 0.13 0.24 0.42 0.42 0.44 0.48 0.52 0.63 0.71 0.70 0.59
Other Operating Expenses		 2.14 2.41 2.31 2.40 2.14 2.32 2.00 2.06 1.94 2.00 2.11
Income Tax Expense		 3.22 2.32 1.74 1.39 1.45 1.07 1.37 1.19 1.48 -0.64 2.19
Basic Earnings per Share		 $0.70 $0.53 $0.47 $0.35 $0.35 $0.27 $0.35 $0.31 $0.35 $0.42 $0.47
Weighted Average Basic Shares Outstanding		 16.64M 16.64M 16.71M 16.73M 16.73M 16.73M 16.81M 16.83M 16.83M 16.83M 16.92M
Diluted Earnings per Share		 $0.69 $0.54 $0.47 $0.35 $0.35 $0.27 $0.35 $0.31 $0.35 $0.41 $0.46
Weighted Average Diluted Shares Outstanding		 16.64M 16.64M 16.71M 16.73M 16.73M 16.73M 16.81M 16.83M 16.83M 16.83M 16.92M
Weighted Average Basic & Diluted Shares Outstanding		 16.64M 16.64M 16.71M 16.73M 16.73M 16.73M 16.81M 16.83M 16.83M 16.83M 16.92M
Cash Dividends to Common per Share		 $0.25 $0.25 $0.25 $0.25 $0.25 $0.25 $0.25 $0.25 $0.25 $0.25 $0.25

Annual Cash Flow Statements for West Bancorporation

This table details how cash moves in and out of West Bancorporation's business through operations, investing, and financing, using annual figures. All values are USD millions unless otherwise specified.

Metric 2022 2023 2024
Period end date 12/31/2022 12/31/2023 12/31/2024
Net Change in Cash & Equivalents		 -166 39 178
Net Cash From Operating Activities		 59 25 40
Net Cash From Continuing Operating Activities		 59 25 40
Net Income / (Loss) Continuing Operations		 46 24 24
Consolidated Net Income / (Loss)		 46 24 24
Provision For Loan Losses		 -2.50 0.70 1.00
Depreciation Expense		 1.50 1.86 3.72
Amortization Expense		 2.97 3.29 3.20
Non-Cash Adjustments to Reconcile Net Income		 3.98 2.25 5.54
Changes in Operating Assets and Liabilities, net		 7.10 -6.99 2.30
Net Cash From Investing Activities		 -358 -169 -27
Net Cash From Continuing Investing Activities		 -358 -169 -27
Purchase of Property, Leasehold Improvements and Equipment		 -21 -36 -26
Purchase of Investment Securities		 -482 -300 -135
Sale and/or Maturity of Investments		 146 168 134
Net Cash From Financing Activities		 132 182 166
Net Cash From Continuing Financing Activities		 132 182 166
Net Change in Deposits		 -136 93 384
Issuance of Debt		 59 0.00 0.00
Repayment of Debt		 30 156 -50
Payment of Dividends		 -17 -17 -17
Other Financing Activities, Net		 196 -51 -151
Cash Interest Paid		 29 88 117
Cash Income Taxes Paid		 11 5.72 1.48

Quarterly Cash Flow Statements for West Bancorporation

This table details how cash moves in and out of West Bancorporation's business through operations, investing, and financing, using quarterly figures. All values are USD millions unless otherwise specified.

Metric Q3 2022 Q4 2022 Q1 2023 Q2 2023 Q3 2023 Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025
Period end date 9/30/2022 12/31/2022 3/31/2023 6/30/2023 9/30/2023 12/31/2023 3/31/2024 6/30/2024 9/30/2024 12/31/2024 3/31/2025
Net Change in Cash & Equivalents		 32 -33 -4.06 9.26 -11 45 83 1.80 7.98 86 -33
Net Cash From Operating Activities		 15 11 2.49 7.77 7.78 7.21 6.12 10 13 11 9.75
Net Cash From Continuing Operating Activities		 15 11 2.49 7.77 7.78 7.21 6.12 10 13 11 9.75
Net Income / (Loss) Continuing Operations		 12 8.95 7.84 5.86 5.91 4.53 5.81 5.19 5.95 7.10 7.84
Consolidated Net Income / (Loss)		 12 8.95 7.84 5.86 5.91 4.53 5.81 5.19 5.95 7.10 7.84
Provision For Loan Losses		 - - - - - 0.50 - - - 1.00 0.00
Depreciation Expense		 0.41 0.41 0.40 0.40 0.38 0.67 0.53 0.99 1.05 1.16 1.10
Amortization Expense		 0.84 0.72 0.83 0.81 0.86 0.79 0.80 0.81 0.82 0.78 0.77
Non-Cash Adjustments to Reconcile Net Income		 0.67 0.27 1.09 -0.27 0.33 1.11 0.83 1.91 0.17 2.62 1.40
Changes in Operating Assets and Liabilities, net		 1.76 0.18 -7.67 0.96 0.10 -0.39 -1.84 1.10 4.94 -1.90 -1.36
Net Cash From Investing Activities		 -31 -122 -14 -46 -45 -64 -56 -5.63 -12 46 -2.95
Net Cash From Continuing Investing Activities		 -31 -122 -14 -46 -45 -64 -56 -5.63 -12 46 -2.95
Purchase of Property, Leasehold Improvements and Equipment		 -3.51 -9.26 -7.16 -7.84 -9.70 -12 -10 -7.27 -5.98 -2.57 -1.49
Purchase of Investment Securities		 -67 -157 -45 -80 -72 -103 -87 -38 -27 16 -12
Sale and/or Maturity of Investments		 40 44 38 42 37 51 41 40 21 33 10
Net Cash From Financing Activities		 48 79 7.18 47 26 102 133 -2.57 6.67 29 -40
Net Cash From Continuing Financing Activities		 48 79 7.18 47 26 102 133 -2.57 6.67 29 -40
Net Change in Deposits		 -20 58 -82 38 -81 218 91 116 98 79 -33
Repayment of Debt		 - 30 0.00 -1.25 -1.25 159 -1.25 -1.25 -1.25 -46 -1.25
Payment of Dividends		 -4.16 -4.16 -4.16 -4.18 -4.18 -4.18 -4.18 -4.21 -4.21 -4.21 -4.21
Other Financing Activities, Net		 72 -4.50 28 -45 77 -111 47 -113 -86 - -1.13
Cash Interest Paid		 7.73 14 17 23 22 27 26 31 28 32 25
Cash Income Taxes Paid		 3.60 3.14 0.00 2.25 1.64 1.83 0.00 0.90 0.03 0.55 0.00

Annual Balance Sheets for West Bancorporation

This table presents West Bancorporation's assets and liabilities at the end of each period, using annual balance sheet data. All values are USD millions unless otherwise specified.

Metric 2022 2023 2024
Period end date 12/31/2022 12/31/2023 12/31/2024
Total Assets		 3,613 3,826 4,015
Cash and Due from Banks		 25 33 29
Federal Funds Sold		 1.64 32 215
Trading Account Securities		 664 624 545
Loans and Leases, Net of Allowance		 2,717 2,899 2,974
Loans and Leases		 2,743 2,928 3,005
Allowance for Loan and Lease Losses		 25 28 30
Premises and Equipment, Net		 53 86 110
Other Assets		 152 151 143
Total Liabilities & Shareholders' Equity		 3,613 3,826 4,015
Total Liabilities		 3,402 3,601 3,787
Non-Interest Bearing Deposits		 694 549 541
Interest Bearing Deposits		 2,187 2,425 2,817
Federal Funds Purchased and Securities Sold		 200 150 0.00
Long-Term Debt		 286 442 393
Other Long-Term Liabilities		 36 34 37
Commitments & Contingencies		 0.00 0.00 0.00
Total Equity & Noncontrolling Interests		 211 225 228
Total Preferred & Common Equity		 211 225 228
Preferred Stock		 0.00 0.00 0.00
Total Common Equity		 211 225 228
Common Stock		 35 37 39
Retained Earnings		 268 271 279
Accumulated Other Comprehensive Income / (Loss)		 -91 -84 -89

Quarterly Balance Sheets for West Bancorporation

This table presents West Bancorporation's assets and liabilities at the end of each period, using quarterly balance sheet data. All values are USD millions unless otherwise specified.

Metric Q3 2022 Q1 2023 Q2 2023 Q3 2023 Q1 2024 Q2 2024 Q3 2024 Q1 2025
Period end date 9/30/2022 3/31/2023 6/30/2023 9/30/2023 3/31/2024 6/30/2024 9/30/2024 3/31/2025
Total Assets		 3,518 3,625 3,679 3,702 3,963 3,965 3,989 3,987
Cash and Due from Banks		 58 22 30 19 27 28 34 39
Federal Funds Sold		 1.05 0.90 1.97 1.80 121 122 124 171
Trading Account Securities		 672 665 645 609 606 588 598 547
Loans and Leases, Net of Allowance		 2,589 2,728 2,779 2,822 2,952 2,970 2,992 2,986
Loans and Leases		 2,614 2,756 2,807 2,850 2,980 2,999 3,021 3,016
Allowance for Loan and Lease Losses		 25 28 28 28 28 28 29 31
Premises and Equipment, Net		 45 60 67 76 96 102 107 110
Other Assets		 153 149 156 175 161 155 134 133
Total Liabilities & Shareholders' Equity		 3,518 3,625 3,679 3,702 3,963 3,965 3,989 3,987
Total Liabilities		 3,319 3,408 3,461 3,498 3,739 3,741 3,753 3,749
Non-Interest Bearing Deposits		 713 606 568 552 521 530 525 520
Interest Bearing Deposits		 2,110 2,193 2,268 2,204 2,544 2,650 2,753 2,805
Federal Funds Purchased and Securities Sold		 205 229 184 262 199 86 0.00 0.00
Long-Term Debt		 256 351 410 444 441 440 439 391
Other Long-Term Liabilities		 36 29 - 37 34 35 36 33
Commitments & Contingencies		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Total Equity & Noncontrolling Interests		 199 217 217 204 224 224 235 238
Total Preferred & Common Equity		 199 217 217 204 224 224 235 238
Preferred Stock		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Total Common Equity		 199 217 217 204 224 224 235 238
Common Stock		 34 35 36 36 37 37 38 38
Retained Earnings		 263 268 269 271 273 274 276 282
Accumulated Other Comprehensive Income / (Loss)		 -98 -85 -88 -104 -86 -87 -78 -82

Annual Metrics And Ratios for West Bancorporation

This table displays calculated financial ratios and metrics derived from West Bancorporation's official financial filings.

Metric 2022 2023 2024
Period end date 12/31/2022 12/31/2023 12/31/2024
Growth Metrics		 - - -
Revenue Growth		 -2.71% -22.41% 0.88%
EBITDA Growth		 -4.00% -45.29% -1.63%
EBIT Growth		 -5.58% -49.85% -7.87%
NOPAT Growth		 -6.47% -47.98% -0.36%
Net Income Growth		 -6.47% -47.98% -0.36%
EPS Growth		 -6.44% -47.83% -1.39%
Operating Cash Flow Growth		 2.70% -57.52% 57.66%
Free Cash Flow Firm Growth		 -79.56% -2,268.78% 148.50%
Invested Capital Growth		 8.67% 34.30% -7.03%
Revenue Q/Q Growth		 -3.79% -5.58% 3.36%
EBITDA Q/Q Growth		 -5.47% -13.25% 4.03%
EBIT Q/Q Growth		 -6.03% -15.99% 3.22%
NOPAT Q/Q Growth		 -6.00% -15.48% 11.98%
Net Income Q/Q Growth		 -6.00% -15.48% 11.98%
EPS Q/Q Growth		 -5.48% -15.79% 10.94%
Operating Cash Flow Q/Q Growth		 -7.65% -11.60% 9.78%
Free Cash Flow Firm Q/Q Growth		 -34.52% 10.99% 1,463.49%
Invested Capital Q/Q Growth		 9.33% 3.08% -7.96%
Profitability Metrics		 - - -
EBITDA Margin		 62.64% 44.17% 43.07%
EBIT Margin		 58.26% 37.66% 34.39%
Profit (Net Income) Margin		 45.51% 30.52% 30.14%
Tax Burden Percent		 78.12% 81.03% 87.64%
Interest Burden Percent		 100.00% 100.00% 100.00%
Effective Tax Rate		 21.88% 18.97% 12.36%
Return on Invested Capital (ROIC)		 9.72% 4.15% 3.73%
ROIC Less NNEP Spread (ROIC-NNEP)		 9.72% 4.15% 3.73%
Return on Net Nonoperating Assets (RNNOA)		 9.96% 6.92% 6.89%
Return on Equity (ROE)		 19.68% 11.07% 10.62%
Cash Return on Invested Capital (CROIC)		 1.41% -25.13% 11.02%
Operating Return on Assets (OROA)		 1.67% 0.80% 0.70%
Return on Assets (ROA)		 1.30% 0.65% 0.61%
Return on Common Equity (ROCE)		 19.68% 11.07% 10.62%
Return on Equity Simple (ROE_SIMPLE)		 21.98% 10.73% 10.55%
Net Operating Profit after Tax (NOPAT)		 46 24 24
NOPAT Margin		 45.51% 30.52% 30.14%
Net Nonoperating Expense Percent (NNEP)		 0.00% 0.00% 0.00%
SG&A Expenses to Revenue		 34.81% 47.66% 51.12%
Operating Expenses to Revenue		 44.19% 61.46% 64.36%
Earnings before Interest and Taxes (EBIT)		 59 30 27
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)		 64 35 34
Valuation Ratios		 - - -
Price to Book Value (P/BV)		 1.79 1.48 1.58
Price to Tangible Book Value (P/TBV)		 1.79 1.48 1.58
Price to Revenue (P/Rev)		 3.70 4.20 4.52
Price to Earnings (P/E)		 8.13 13.77 14.98
Dividend Yield		 4.41% 5.03% 4.67%
Earnings Yield		 12.30% 7.26% 6.67%
Enterprise Value to Invested Capital (EV/IC)		 1.28 1.06 0.82
Enterprise Value to Revenue (EV/Rev)		 6.25 8.97 6.38
Enterprise Value to EBITDA (EV/EBITDA)		 9.97 20.30 14.83
Enterprise Value to EBIT (EV/EBIT)		 10.72 23.81 18.57
Enterprise Value to NOPAT (EV/NOPAT)		 13.72 29.39 21.18
Enterprise Value to Operating Cash Flow (EV/OCF)		 10.71 28.09 12.80
Enterprise Value to Free Cash Flow (EV/FCFF)		 94.38 0.00 7.18
Leverage & Solvency		 - - -
Debt to Equity		 1.35 1.97 1.72
Long-Term Debt to Equity		 1.35 1.97 1.72
Financial Leverage		 1.02 1.67 1.84
Leverage Ratio		 15.09 17.06 17.31
Compound Leverage Factor		 15.09 17.06 17.31
Debt to Total Capital		 57.52% 66.28% 63.28%
Short-Term Debt to Total Capital		 0.00% 0.00% 0.00%
Long-Term Debt to Total Capital		 57.52% 66.28% 63.28%
Preferred Equity to Total Capital		 0.00% 0.00% 0.00%
Noncontrolling Interests to Total Capital		 0.00% 0.00% 0.00%
Common Equity to Total Capital		 42.48% 33.72% 36.72%
Debt to EBITDA		 4.48 12.66 11.42
Net Debt to EBITDA		 4.06 10.79 4.34
Long-Term Debt to EBITDA		 4.48 12.66 11.42
Debt to NOPAT		 6.16 18.33 16.33
Net Debt to NOPAT		 5.59 15.62 6.20
Long-Term Debt to NOPAT		 6.16 18.33 16.33
Noncontrolling Interest Sharing Ratio		 0.00% 0.00% 0.00%
Liquidity Ratios		 - - -
Cash Flow Metrics		 - - -
Free Cash Flow to Firm (FCFF)		 6.75 -146 71
Operating Cash Flow to CapEx		 278.91% 69.39% 152.31%
Free Cash Flow to Firm to Interest Expense		 0.21 -1.60 0.60
Operating Cash Flow to Interest Expense		 1.88 0.28 0.34
Operating Cash Flow Less CapEx to Interest Expense		 1.21 -0.12 0.12
Efficiency Ratios		 - - -
Asset Turnover		 0.03 0.02 0.02
Fixed Asset Turnover		 2.33 1.13 0.81
Capital & Investment Metrics		 - - -
Invested Capital		 497 667 621
Invested Capital Turnover		 0.21 0.14 0.12
Increase / (Decrease) in Invested Capital		 40 170 -47
Enterprise Value (EV)		 637 709 509
Market Capitalization		 377 332 360
Book Value per Share		 $12.69 $13.46 $13.54
Tangible Book Value per Share		 $12.69 $13.46 $13.54
Total Capital		 497 667 621
Total Debt		 286 442 393
Total Long-Term Debt		 286 442 393
Net Debt		 259 377 149
Capital Expenditures (CapEx)		 21 36 26
Net Nonoperating Expense (NNE)		 0.00 0.00 0.00
Net Nonoperating Obligations (NNO)		 286 442 393
Total Depreciation and Amortization (D&A)		 4.46 5.15 6.92
Earnings Adjustments		 - - -
Adjusted Basic Earnings per Share		 $2.79 $0.00 $1.43
Adjusted Weighted Average Basic Shares Outstanding		 16.64M 0.00 16.83M
Adjusted Diluted Earnings per Share		 $2.76 $0.00 $1.42
Adjusted Weighted Average Diluted Shares Outstanding		 16.64M 0.00 16.83M
Adjusted Basic & Diluted Earnings per Share		 $0.00 $0.00 $0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding		 16.64M 0.00 16.83M
Normalized Net Operating Profit after Tax (NOPAT)		 46 24 24
Normalized NOPAT Margin		 45.51% 30.52% 30.14%
Pre Tax Income Margin		 58.26% 37.66% 34.39%
Debt Service Ratios		 - - -
EBIT to Interest Expense		 1.88 0.33 0.23
NOPAT to Interest Expense		 1.47 0.26 0.20
EBIT Less CapEx to Interest Expense		 1.20 -0.07 0.01
NOPAT Less CapEx to Interest Expense		 0.79 -0.13 -0.02
Payout Ratios		 - - -
Dividend Payout Ratio		 35.82% 69.21% 69.88%
Augmented Payout Ratio		 35.82% 69.21% 69.88%

Quarterly Metrics And Ratios for West Bancorporation

This table displays calculated financial ratios and metrics derived from West Bancorporation's official financial filings.

Metric Q3 2022 Q4 2022 Q1 2023 Q2 2023 Q3 2023 Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025
Period end date 9/30/2022 12/31/2022 3/31/2023 6/30/2023 9/30/2023 12/31/2023 3/31/2024 6/30/2024 9/30/2024 12/31/2024 3/31/2025
Growth Metrics		 - - - - - - - - - - -
Revenue Growth		 -2.26% -14.90% -17.41% -25.59% -25.97% -20.38% -12.02% -0.78% 4.44% 14.20% 21.26%
EBITDA Growth		 -5.96% -22.98% -37.41% -53.25% -46.53% -43.05% -21.37% -3.42% 8.16% 18.86% 40.07%
EBIT Growth		 -8.36% -25.27% -41.24% -57.32% -50.40% -50.32% -25.05% -12.05% 1.03% 15.27% 39.74%
NOPAT Growth		 -8.69% -24.89% -40.50% -53.72% -49.10% -49.42% -25.94% -11.43% 0.78% 56.84% 35.00%
Net Income Growth		 -8.69% -24.89% -40.50% -53.72% -49.10% -49.42% -25.94% -11.43% 0.78% 56.84% 35.00%
EPS Growth		 -9.21% -22.86% -39.74% -53.33% -49.28% -50.00% -25.53% -11.43% 0.00% 51.85% 31.43%
Operating Cash Flow Growth		 9.69% -31.90% -83.93% -57.13% -49.07% -31.50% 145.43% 28.73% 66.23% 49.23% 59.27%
Free Cash Flow Firm Growth		 -190.94% -553.48% -513.12% -217.13% -581.11% -440.33% 27.97% 78.65% 88.92% 132.55% 147.65%
Invested Capital Growth		 9.40% 8.67% 31.03% 32.83% 42.44% 34.30% 17.08% 5.91% 4.12% -7.03% -5.36%
Revenue Q/Q Growth		 -0.89% -12.73% -5.59% -8.88% -1.39% -6.15% 4.33% 2.77% 3.80% 2.62% 10.77%
EBITDA Q/Q Growth		 -11.29% -22.88% -12.75% -21.68% 1.46% -17.85% 20.46% -3.81% 13.63% -9.73% 41.95%
EBIT Q/Q Growth		 -12.82% -23.97% -14.98% -24.27% 1.31% -23.85% 28.28% -11.13% 16.37% -13.11% 55.51%
NOPAT Q/Q Growth		 -8.41% -22.89% -12.32% -25.27% 0.75% -23.38% 28.38% -10.62% 14.64% 19.24% 10.50%
Net Income Q/Q Growth		 -8.41% -22.89% -12.32% -25.27% 0.75% -23.38% 28.38% -10.62% 14.64% 19.24% 10.50%
EPS Q/Q Growth		 -8.00% -21.74% -12.96% -25.53% 0.00% -22.86% 29.63% -11.43% 12.90% 17.14% 12.20%
Operating Cash Flow Q/Q Growth		 -15.72% -31.15% -76.29% 211.55% 0.13% -7.39% -15.05% 63.40% 29.30% -16.86% -9.33%
Free Cash Flow Firm Q/Q Growth		 41.58% -11.83% -312.40% -17.71% -25.47% 11.29% 45.02% 65.11% 34.87% 360.51% -19.52%
Invested Capital Q/Q Growth		 -3.68% 9.33% 14.28% 10.38% 3.29% 3.08% -0.37% -0.16% 1.55% -7.96% 1.42%
Profitability Metrics		 - - - - - - - - - - -
EBITDA Margin		 61.15% 54.04% 49.94% 42.92% 44.17% 38.66% 44.64% 41.78% 45.74% 40.24% 51.56%
EBIT Margin		 56.40% 49.14% 44.25% 36.78% 37.78% 30.66% 37.70% 32.60% 36.55% 30.95% 43.45%
Profit (Net Income) Margin		 44.15% 39.01% 36.23% 29.71% 30.36% 24.78% 30.50% 26.52% 29.29% 34.04% 33.95%
Tax Burden Percent		 78.28% 79.39% 81.87% 80.79% 80.34% 80.83% 80.89% 81.35% 80.14% 109.98% 78.15%
Interest Burden Percent		 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00%
Effective Tax Rate		 21.72% 20.61% 18.13% 19.21% 19.66% 19.17% 19.11% 18.65% 19.86% -9.98% 21.85%
Return on Invested Capital (ROIC)		 10.75% 8.33% 7.05% 4.90% 4.62% 3.37% 3.78% 3.14% 3.42% 4.22% 4.40%
ROIC Less NNEP Spread (ROIC-NNEP)		 10.75% 8.33% 7.05% 4.90% 4.62% 3.37% 3.78% 3.14% 3.42% 4.22% 4.40%
Return on Net Nonoperating Assets (RNNOA)		 9.99% 8.54% 8.51% 7.52% 8.01% 5.62% 6.80% 6.04% 6.87% 7.78% 7.93%
Return on Equity (ROE)		 20.74% 16.87% 15.56% 12.42% 12.63% 8.99% 10.59% 9.18% 10.30% 11.99% 12.33%
Cash Return on Invested Capital (CROIC)		 2.37% 1.41% -18.66% -21.96% -29.83% -25.13% -12.15% -2.42% -0.79% 11.02% 9.54%
Operating Return on Assets (OROA)		 1.77% 1.41% 1.20% 0.93% 0.88% 0.65% 0.76% 0.65% 0.73% 0.63% 0.92%
Return on Assets (ROA)		 1.38% 1.12% 0.98% 0.75% 0.70% 0.53% 0.61% 0.53% 0.59% 0.69% 0.72%
Return on Common Equity (ROCE)		 20.74% 16.87% 15.56% 12.42% 12.63% 8.99% 10.59% 9.18% 10.30% 11.99% 12.33%
Return on Equity Simple (ROE_SIMPLE)		 24.84% 0.00% 18.92% 15.78% 14.00% 0.00% 9.88% 9.57% 9.13% 0.00% 10.97%
Net Operating Profit after Tax (NOPAT)		 12 8.95 7.84 5.86 5.91 4.53 5.81 5.19 5.95 7.10 7.84
NOPAT Margin		 44.15% 39.01% 36.23% 29.71% 30.36% 24.78% 30.50% 26.52% 29.29% 34.04% 33.95%
Net Nonoperating Expense Percent (NNEP)		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
SG&A Expenses to Revenue		 34.96% 39.30% 43.15% 48.96% 47.96% 51.30% 49.08% 53.67% 50.41% 51.30% 44.90%
Operating Expenses to Revenue		 43.60% 50.86% 55.75% 63.22% 61.19% 66.60% 62.30% 67.40% 63.45% 64.26% 56.55%
Earnings before Interest and Taxes (EBIT)		 15 11 9.58 7.26 7.35 5.60 7.18 6.38 7.43 6.45 10
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)		 16 12 11 8.47 8.59 7.06 8.50 8.18 9.29 8.39 12
Valuation Ratios		 - - - - - - - - - - -
Price to Book Value (P/BV)		 1.53 1.79 1.26 1.29 1.24 1.48 0.00 1.30 1.33 1.58 1.41
Price to Tangible Book Value (P/TBV)		 1.53 1.79 1.26 1.29 1.24 1.48 0.00 1.30 1.33 1.58 1.41
Price to Revenue (P/Rev)		 2.87 3.70 2.80 3.10 3.01 4.20 0.00 3.80 4.05 4.52 4.00
Price to Earnings (P/E)		 6.16 8.13 6.65 8.19 8.83 13.77 0.00 13.54 14.56 14.98 12.87
Dividend Yield		 5.42% 4.41% 6.10% 5.96% 6.64% 5.03% 5.90% 5.79% 5.38% 4.67% 5.02%
Earnings Yield		 16.24% 12.30% 15.05% 12.21% 11.33% 7.26% 0.00% 7.38% 6.87% 6.67% 7.77%
Enterprise Value to Invested Capital (EV/IC)		 1.10 1.28 1.06 1.05 1.04 1.06 0.00 0.87 0.88 0.82 0.82
Enterprise Value to Revenue (EV/Rev)		 4.72 6.25 6.17 7.27 8.06 8.97 0.00 7.60 7.69 6.38 6.16
Enterprise Value to EBITDA (EV/EBITDA)		 7.41 9.97 10.48 13.79 16.76 20.30 0.00 17.95 17.97 14.83 13.67
Enterprise Value to EBIT (EV/EBIT)		 7.92 10.72 11.42 15.34 19.04 23.81 0.00 21.89 22.33 18.57 17.05
Enterprise Value to NOPAT (EV/NOPAT)		 10.14 13.72 14.65 19.23 23.63 29.39 0.00 27.08 27.65 21.18 19.80
Enterprise Value to Operating Cash Flow (EV/OCF)		 7.77 10.71 12.96 18.27 23.63 28.09 0.00 18.66 16.38 12.80 11.89
Enterprise Value to Free Cash Flow (EV/FCFF)		 48.57 94.38 0.00 0.00 0.00 0.00 0.00 0.00 0.00 7.18 8.37
Leverage & Solvency		 - - - - - - - - - - -
Debt to Equity		 1.29 1.35 1.62 1.89 2.18 1.97 1.97 1.97 1.86 1.72 1.65
Long-Term Debt to Equity		 1.29 1.35 1.62 1.89 2.18 1.97 1.97 1.97 1.86 1.72 1.65
Financial Leverage		 0.93 1.02 1.21 1.54 1.74 1.67 1.80 1.93 2.01 1.84 1.80
Leverage Ratio		 15.00 15.09 15.82 16.51 17.93 17.06 17.22 17.33 17.51 17.31 17.22
Compound Leverage Factor		 15.00 15.09 15.82 16.51 17.93 17.06 17.22 17.33 17.51 17.31 17.22
Debt to Total Capital		 56.27% 57.52% 61.79% 65.36% 68.50% 66.28% 66.35% 66.28% 65.09% 63.28% 62.20%
Short-Term Debt to Total Capital		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Long-Term Debt to Total Capital		 56.27% 57.52% 61.79% 65.36% 68.50% 66.28% 66.35% 66.28% 65.09% 63.28% 62.20%
Preferred Equity to Total Capital		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Noncontrolling Interests to Total Capital		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Common Equity to Total Capital		 43.73% 42.48% 38.21% 34.64% 31.50% 33.72% 33.65% 33.72% 34.91% 36.72% 37.80%
Debt to EBITDA		 3.79 4.48 6.11 8.58 11.01 12.66 13.52 13.61 13.28 11.42 10.36
Net Debt to EBITDA		 2.91 4.06 5.72 7.92 10.50 10.79 8.99 8.97 8.51 4.34 4.79
Long-Term Debt to EBITDA		 3.79 4.48 6.11 8.58 11.01 12.66 13.52 13.61 13.28 11.42 10.36
Debt to NOPAT		 5.18 6.16 8.55 11.96 15.53 18.33 19.96 20.53 20.43 16.33 15.01
Net Debt to NOPAT		 3.98 5.59 8.00 11.04 14.81 15.62 13.26 13.54 13.08 6.20 6.93
Long-Term Debt to NOPAT		 5.18 6.16 8.55 11.96 15.53 18.33 19.96 20.53 20.43 16.33 15.01
Noncontrolling Interest Sharing Ratio		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Liquidity Ratios		 - - - - - - - - - - -
Cash Flow Metrics		 - - - - - - - - - - -
Free Cash Flow to Firm (FCFF)		 -27 -31 -127 -149 -187 -166 -91 -32 -21 54 43
Operating Cash Flow to CapEx		 435.46% 113.65% 34.81% 99.16% 80.21% 61.64% 59.27% 137.67% 216.45% 418.69% 653.42%
Free Cash Flow to Firm to Interest Expense		 -3.00 -2.12 -6.85 -6.77 -7.65 -6.30 -3.28 -1.05 -0.68 1.81 1.72
Operating Cash Flow to Interest Expense		 1.67 0.73 0.13 0.35 0.32 0.27 0.22 0.33 0.42 0.36 0.39
Operating Cash Flow Less CapEx to Interest Expense		 1.28 0.09 -0.25 0.00 -0.08 -0.17 -0.15 0.09 0.23 0.27 0.33
Efficiency Ratios		 - - - - - - - - - - -
Asset Turnover		 0.03 0.03 0.03 0.03 0.02 0.02 0.02 0.02 0.02 0.02 0.02
Fixed Asset Turnover		 2.72 2.33 1.94 1.67 1.39 1.13 0.98 0.91 0.85 0.81 0.81
Capital & Investment Metrics		 - - - - - - - - - - -
Invested Capital		 455 497 568 627 647 667 665 664 674 621 629
Invested Capital Turnover		 0.24 0.21 0.19 0.16 0.15 0.14 0.12 0.12 0.12 0.12 0.13
Increase / (Decrease) in Invested Capital		 39 40 134 155 193 170 97 37 27 -47 -36
Enterprise Value (EV)		 500 637 601 659 675 709 0.00 580 594 509 516
Market Capitalization		 304 377 273 281 252 332 0.00 290 313 360 336
Book Value per Share		 $11.94 $12.69 $13.04 $12.99 $12.19 $13.46 $13.31 $13.32 $13.98 $13.54 $14.13
Tangible Book Value per Share		 $11.94 $12.69 $13.04 $12.99 $12.19 $13.46 $13.31 $13.32 $13.98 $13.54 $14.13
Total Capital		 455 497 568 627 647 667 665 664 674 621 629
Total Debt		 256 286 351 410 444 442 441 440 439 393 391
Total Long-Term Debt		 256 286 351 410 444 442 441 440 439 393 391
Net Debt		 196 259 328 378 423 377 293 290 281 149 181
Capital Expenditures (CapEx)		 3.51 9.26 7.16 7.84 9.70 12 10 7.27 5.98 2.57 1.49
Net Nonoperating Expense (NNE)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Net Nonoperating Obligations (NNO)		 256 286 351 410 444 442 441 440 439 393 391
Total Depreciation and Amortization (D&A)		 1.25 1.13 1.23 1.21 1.24 1.46 1.32 1.80 1.87 1.94 1.88
Earnings Adjustments		 - - - - - - - - - - -
Adjusted Basic Earnings per Share		 $0.70 $0.53 $0.47 $0.35 $0.35 $0.27 $0.35 $0.31 $0.35 $0.42 $0.47
Adjusted Weighted Average Basic Shares Outstanding		 16.64M 16.64M 16.71M 16.73M 16.73M 16.73M 16.81M 16.83M 16.83M 16.83M 16.92M
Adjusted Diluted Earnings per Share		 $0.69 $0.54 $0.47 $0.35 $0.35 $0.27 $0.35 $0.31 $0.35 $0.41 $0.46
Adjusted Weighted Average Diluted Shares Outstanding		 16.64M 16.64M 16.71M 16.73M 16.73M 16.73M 16.81M 16.83M 16.83M 16.83M 16.92M
Adjusted Basic & Diluted Earnings per Share		 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding		 16.64M 16.64M 16.71M 16.73M 16.73M 16.73M 16.81M 16.83M 16.83M 16.83M 16.92M
Normalized Net Operating Profit after Tax (NOPAT)		 12 8.95 7.84 5.86 5.91 4.53 5.81 5.19 5.95 4.52 7.84
Normalized NOPAT Margin		 44.15% 39.01% 36.23% 29.71% 30.36% 24.78% 30.50% 26.52% 29.29% 21.66% 33.95%
Pre Tax Income Margin		 56.40% 49.14% 44.25% 36.78% 37.78% 30.66% 37.70% 32.60% 36.55% 30.95% 43.45%
Debt Service Ratios		 - - - - - - - - - - -
EBIT to Interest Expense		 1.62 0.78 0.52 0.33 0.30 0.21 0.26 0.21 0.24 0.22 0.40
NOPAT to Interest Expense		 1.27 0.62 0.42 0.27 0.24 0.17 0.21 0.17 0.19 0.24 0.31
EBIT Less CapEx to Interest Expense		 1.23 0.14 0.13 -0.03 -0.10 -0.23 -0.11 -0.03 0.05 0.13 0.34
NOPAT Less CapEx to Interest Expense		 0.88 -0.02 0.04 -0.09 -0.16 -0.27 -0.16 -0.07 0.00 0.15 0.25
Payout Ratios		 - - - - - - - - - - -
Dividend Payout Ratio		 33.29% 35.82% 40.53% 48.64% 58.42% 69.21% 75.67% 78.16% 78.12% 69.88% 64.54%
Augmented Payout Ratio		 33.29% 35.82% 40.53% 48.64% 58.42% 69.21% 75.67% 78.16% 78.12% 69.88% 64.54%

Key Financial Trends

West Bancorporation (NASDAQ:WTBA) shows a generally positive financial trend over the past few years, with steady growth in net income and earnings per share, alongside stable asset and equity bases. Here are the key highlights and trends from the last four years through Q1 2025 based on the quarterly financial data analyzed:

  • Net income has increased consistently from $4.52 million in Q4 2023 to $7.84 million in Q1 2025, reflecting improving profitability.
  • Basic and diluted earnings per share have risen steadily from $0.27/$0.27 in Q4 2023 to $0.47/$0.46 in Q1 2025, indicating growth in shareholder value.
  • Net interest income remains strong and generally upward, reaching $20.86 million in Q1 2025 from $16.36 million in Q4 2023, driven by solid loans and leases interest income.
  • Total common equity has increased from about $198.8 million in Q3 2022 to approximately $237.9 million by Q1 2025, supporting financial strength and capital adequacy.
  • West Bancorporation maintains a consistent dividend payout of $0.25 per share quarterly, signaling stable returns to shareholders.
  • Provision for credit losses has generally been low or zero recently, which may reflect good credit quality or favorable economic conditions, but should be monitored for credit risk changes.
  • Loan and lease balances have gradually grown from approximately $2.61 billion in Q3 2022 to around $3.02 billion in Q1 2025, showing moderate asset growth.
  • The allowance for loan and lease losses is steady, in the $25 million to $30 million range, providing some buffer against credit losses.
  • Total liabilities have increased from about $3.32 billion in Q3 2022 to nearly $3.75 billion in Q1 2025, largely driven by deposits and long-term debt, which could increase financial leverage risk if not matched by earnings growth.
  • Interest expense, particularly on long-term debt and deposits, has grown significantly since 2022, pressuring net interest margins and operating costs.

Overall, West Bancorporation shows solid improvements in earnings and capital strength, with cautious management of credit risk and expenses. Investors should watch for continued growth in net interest income and net income, while monitoring the company's debt levels and interest expense trends.

08/23/25 03:47 PMAI Generated. May Contain Errors.

Frequently Asked Questions About West Bancorporation's Financials

When does West Bancorporation's fiscal year end?

According to the most recent income statement we have on file, West Bancorporation's financial year ends in December. Their financial year 2024 ended on December 31, 2024.

How has West Bancorporation's net income changed over the last 2 years?

West Bancorporation's net income appears to be on a downward trend, with a most recent value of $24.05 million in 2024, falling from $46.40 million in 2022. The previous period was $24.14 million in 2023. View West Bancorporation's forecast to see where analysts expect West Bancorporation to go next.

How has West Bancorporation's revenue changed over the last 2 years?

Over the last 2 years, West Bancorporation's total revenue changed from $101.95 million in 2022 to $79.80 million in 2024, a change of -21.7%.

How much debt does West Bancorporation have?

West Bancorporation's total liabilities were at $3.79 billion at the end of 2024, a 5.2% increase from 2023, and a 11.3% increase since 2022.

How much cash does West Bancorporation have?

In the past 2 years, West Bancorporation's cash and equivalents has ranged from $24.90 million in 2022 to $33.25 million in 2023, and is currently $28.75 million as of their latest financial filing in 2024.

How has West Bancorporation's book value per share changed over the last 2 years?

Over the last 2 years, West Bancorporation's book value per share changed from 12.69 in 2022 to 13.54 in 2024, a change of 6.7%.


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This page (NASDAQ:WTBA) was last updated on 8/23/2025 by MarketBeat.com Staff
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