West Bancorporation (WTBA) Financials

$26.32 +0.10 (+0.38%)

Closing price 07/10/2026 04:00 PM Eastern

Extended Trading

$26.41 +0.09 (+0.34%)

As of 07/10/2026 04:10 PM Eastern

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	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025
Period end date	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025
Net Income / (Loss) Attributable to Common Shareholders	22	23	23	29	29	33	50	46	24	24	33
Consolidated Net Income / (Loss)	22	23	23	29	29	33	50	46	24	24	33
Net Income / (Loss) Continuing Operations	22	23	23	29	29	33	50	46	24	24	33
Total Pre-Tax Income	31	33	36	35	36	41	63	59	30	27	41
Total Revenue	62	65	69	70	75	92	105	102	79	80	95
Net Interest Income / (Expense)	54	57	60	62	66	83	95	92	69	71	89
Total Interest Income	60	65	73	85	99	100	107	123	160	190	192
Loans and Leases Interest Income	53	57	63	71	86	91	96	107	143	166	167
Investment Securities Interest Income	7.51	7.47	9.46	13	12	9.26	11	16	17	16	16
Federal Funds Sold and Securities Borrowed Interest Income	0.08	0.11	0.33	0.49	1.11	0.30	0.29	0.20	0.17	7.60	9.36
Total Interest Expense	5.99	7.88	13	23	32	17	12	32	91	119	103
Deposits Interest Expense	2.19	3.39	7.62	17	25	11	7.95	23	67	97	88
Long-Term Debt Interest Expense	3.76	4.44	5.26	5.48	6.79	6.12	4.27	7.22	7.25	6.86	6.39
Federal Funds Purchased and Securities Sold Interest Expense	0.05	0.05	0.10	0.19	0.24	0.02	0.01	1.76	17	15	9.10
Total Non-Interest Income	8.20	7.98	8.65	7.75	8.32	9.60	9.73	10	10	8.43	6.26
Other Service Charges	6.14	1.23	1.27	1.24	1.60	2.86	1.78	2.37	1.86	1.27	1.75
Net Realized & Unrealized Capital Gains on Investments	0.05	0.51	0.63	-0.26	-0.09	0.08	0.05	0.00	0.26	-1.17	-3.96
Other Non-Interest Income	0.73	6.24	6.74	6.77	6.81	6.66	7.89	7.84	7.95	8.34	8.47
Provision for Credit Losses	0.85	1.00	0.00	-0.25	0.60	12	-1.50	-2.50	0.70	1.00	0.00
Total Non-Interest Expense	30	31	32	35	38	39	43	45	49	51	54
Salaries and Employee Benefits	16	17	18	19	22	22	23	26	27	28	29
Net Occupancy & Equipment Expense	6.43	6.54	7.08	2.68	7.46	7.21	9.40	9.65	11	13	14
Property & Liability Insurance Claims	0.84	0.94	0.68	0.69	0.40	1.21	1.82	1.00	1.75	2.56	2.37
Other Operating Expenses	6.73	6.94	6.87	13	8.75	9.04	8.93	8.57	9.16	8.00	8.15
Income Tax Expense	9.70	9.94	13	6.56	7.05	8.67	13	13	5.65	3.39	8.86
Basic Earnings per Share	$1.35	$1.43	$1.42	$1.75	$1.75	$1.99	$3.00	$2.79	$1.44	$1.43	$1.92
Weighted Average Basic Shares Outstanding	16.05M	16.12M	16.19M	16.28M	16.38M	16.47M	16.55M	16.64M	16.73M	16.83M	16.94M
Diluted Earnings per Share	$1.35	$1.42	$1.41	$1.74	$1.74	$1.98	$2.95	$2.76	$1.44	$1.42	$1.92
Weighted Average Diluted Shares Outstanding	16.05M	16.12M	16.19M	16.28M	16.38M	16.47M	16.55M	16.64M	16.73M	16.83M	16.94M
Weighted Average Basic & Diluted Shares Outstanding	16.05M	16.12M	16.19M	16.28M	16.38M	16.47M	16.55M	16.64M	16.73M	16.83M	16.94M
Cash Dividends to Common per Share	$0.62	$0.67	$0.71	$0.78	$0.83	$0.84	$0.94	$1.00	$1.00	$1.00	$1.00

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 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025	Q2 2025	Q3 2025	Q4 2025	Q1 2026
Period end date	9/30/2023	12/31/2023	3/31/2024	6/30/2024	9/30/2024	12/31/2024	3/31/2025	6/30/2025	9/30/2025	12/31/2025	3/31/2026
Net Income / (Loss) Attributable to Common Shareholders	5.91	4.53	5.81	5.19	5.95	7.10	7.84	7.98	9.31	7.43	11
Consolidated Net Income / (Loss)	5.91	4.53	5.81	5.19	5.95	7.10	7.84	7.98	9.31	7.43	11
Net Income / (Loss) Continuing Operations	5.91	4.53	5.81	5.19	5.95	7.10	7.84	7.98	9.31	7.43	11
Total Pre-Tax Income	7.35	5.60	7.18	6.38	7.43	6.45	10	10	11	9.59	13
Total Revenue	19	18	19	20	20	21	23	24	25	23	27
Net Interest Income / (Expense)	17	16	17	17	18	19	21	21	23	24	24
Total Interest Income	41	43	45	48	49	49	46	48	49	49	47
Loans and Leases Interest Income	37	38	40	42	43	42	41	42	42	42	41
Investment Securities Interest Income	4.31	4.39	4.23	4.20	4.07	3.75	3.53	3.45	4.64	4.40	4.40
Federal Funds Sold and Securities Borrowed Interest Income	0.03	0.09	0.15	1.67	2.04	3.74	1.62	2.85	2.09	2.81	2.05
Total Interest Expense	24	26	28	30	31	30	25	27	26	25	23
Deposits Interest Expense	17	20	22	24	26	26	21	23	23	21	19
Long-Term Debt Interest Expense	1.81	9.49	1.75	1.73	1.71	12	1.62	1.61	1.59	1.57	1.50
Federal Funds Purchased and Securities Sold Interest Expense	2.33	4.32	2.33	2.72	2.75	-3.54	2.24	2.26	2.29	2.32	2.24
Total Non-Interest Income	2.82	1.90	2.30	2.35	2.36	1.43	2.24	2.41	2.50	-0.89	2.55
Other Service Charges	0.77	0.31	0.33	0.32	0.29	0.33	0.27	0.35	0.33	0.80	0.26
Other Non-Interest Income	2.05	2.02	1.97	2.02	2.07	2.27	1.98	2.06	2.17	2.27	2.30
Provision for Credit Losses	0.20	0.50	0.00	0.00	0.00	1.00	0.00	0.00	0.00	-	0.00
Total Non-Interest Expense	12	12	12	13	13	13	13	13	14	14	13
Salaries and Employee Benefits	6.70	6.47	6.49	7.17	6.82	7.11	7.00	7.34	7.46	7.58	7.63
Net Occupancy & Equipment Expense	2.64	2.90	2.86	2.61	2.70	3.59	2.58	3.47	3.55	4.33	2.60
Property & Liability Insurance Claims	0.44	0.48	0.52	0.63	0.71	0.70	0.59	0.67	0.64	0.48	0.47
Other Operating Expenses	2.14	2.32	2.00	2.79	2.66	2.00	2.89	2.00	1.91	1.34	2.76
Income Tax Expense	1.45	1.07	1.37	1.19	1.48	-0.64	2.19	2.37	2.14	2.16	2.90
Basic Earnings per Share	$0.35	$0.27	$0.35	$0.31	$0.35	$0.42	$0.47	$0.47	$0.55	$0.43	$0.62
Weighted Average Basic Shares Outstanding	16.73M	16.73M	16.81M	16.83M	16.83M	16.83M	16.92M	16.94M	16.94M	16.94M	17.03M
Diluted Earnings per Share	$0.35	$0.27	$0.35	$0.31	$0.35	$0.41	$0.46	$0.47	$0.55	$0.44	$0.61
Weighted Average Diluted Shares Outstanding	16.73M	16.73M	16.81M	16.83M	16.83M	16.83M	16.92M	16.94M	16.94M	16.94M	17.03M
Weighted Average Basic & Diluted Shares Outstanding	16.73M	16.73M	16.81M	16.83M	16.83M	16.83M	16.92M	16.94M	16.94M	16.94M	17.03M
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

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	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025
Period end date	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025
Net Change in Cash & Equivalents	33	4.19	-29	-0.48	5.82	343	-204	-166	39	178	228
Net Cash From Operating Activities	31	30	29	35	37	42	58	59	25	40	46
Net Cash From Continuing Operating Activities	31	30	29	35	37	42	58	59	25	40	46
Net Income / (Loss) Continuing Operations	22	23	23	29	29	33	50	46	24	24	33
Consolidated Net Income / (Loss)	22	23	23	29	29	33	50	46	24	24	33
Provision For Loan Losses	0.85	1.00	0.00	-	0.60	12	-1.50	-2.50	0.70	1.00	0.00
Depreciation Expense	0.92	1.05	1.35	1.41	1.43	1.50	1.50	1.50	1.86	3.72	4.52
Amortization Expense	3.89	4.29	4.16	4.95	3.64	1.89	2.11	2.97	3.29	3.20	3.08
Non-Cash Adjustments to Reconcile Net Income	1.30	0.62	4.18	2.46	2.10	-1.38	1.68	3.98	2.25	5.54	5.85
Changes in Operating Assets and Liabilities, net	2.49	0.33	-3.40	-2.57	0.51	-4.44	4.48	7.10	-6.99	2.30	0.48
Net Cash From Investing Activities	-106	-105	-294	-189	-155	-367	-537	-358	-169	-27	93
Net Cash From Continuing Investing Activities	-106	-105	-294	-189	-155	-367	-537	-358	-169	-27	93
Purchase of Property, Leasehold Improvements and Equipment	-2.50	-13	-1.06	-0.21	-1.05	-2.32	-8.74	-21	-36	-26	-3.33
Purchase of Investment Securities	-199	-174	-471	-323	-427	-591	-659	-482	-300	-135	-8.55
Sale and/or Maturity of Investments	95	81	178	135	272	226	130	146	168	134	105
Net Cash From Financing Activities	108	79	236	154	124	668	276	132	182	166	88
Net Cash From Continuing Financing Activities	108	79	236	154	124	668	276	132	182	166	88
Net Change in Deposits	170	106	264	84	120	686	315	-136	93	384	111
Repayment of Debt	-4.26	-3.29	-29	-7.36	-4.12	-1.37	-55	30	156	-50	-5.00
Payment of Dividends	-9.95	-11	-11	-13	-14	-14	-16	-17	-17	-17	-17
Other Financing Activities, Net	-48	-12	-9.78	18	-18	1.97	-3.71	196	-51	-151	-1.13
Cash Interest Paid	6.07	7.94	13	22	31	19	13	29	88	117	106
Cash Income Taxes Paid	6.70	7.87	9.30	7.31	5.88	11	13	11	5.72	1.48	5.55

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 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025	Q2 2025	Q3 2025	Q4 2025	Q1 2026
Period end date	9/30/2023	12/31/2023	3/31/2024	6/30/2024	9/30/2024	12/31/2024	3/31/2025	6/30/2025	9/30/2025	12/31/2025	3/31/2026
Net Change in Cash & Equivalents	-11	45	83	1.80	7.98	86	-33	135	-112	238	-109
Net Cash From Operating Activities	7.78	7.21	6.12	10	13	11	9.75	14	11	12	13
Net Cash From Continuing Operating Activities	7.78	7.21	6.12	10	13	11	9.75	14	11	12	13
Net Income / (Loss) Continuing Operations	5.91	4.53	5.81	5.19	5.95	7.10	7.84	7.98	9.31	7.43	11
Consolidated Net Income / (Loss)	5.91	4.53	5.81	5.19	5.95	7.10	7.84	7.98	9.31	7.43	11
Provision For Loan Losses	-	0.50	0.00	-	-	1.00	0.00	-	-	-	0.00
Depreciation Expense	0.38	0.67	0.53	0.99	1.05	1.16	1.10	1.13	1.14	1.14	1.15
Amortization Expense	0.86	0.79	0.80	0.81	0.82	0.78	0.77	0.77	0.77	0.76	0.74
Non-Cash Adjustments to Reconcile Net Income	0.33	1.11	0.83	1.91	0.17	2.62	1.40	0.31	0.27	3.88	0.57
Changes in Operating Assets and Liabilities, net	0.10	-0.39	-1.84	1.10	4.94	-1.90	-1.36	3.34	-0.09	-1.42	-0.15
Net Cash From Investing Activities	-45	-64	-56	-5.63	-12	46	-2.95	59	-33	70	18
Net Cash From Continuing Investing Activities	-45	-64	-56	-5.63	-12	46	-2.95	59	-33	70	18
Purchase of Property, Leasehold Improvements and Equipment	-9.70	-12	-10	-7.27	-5.98	-2.57	-1.49	-0.76	-0.65	-0.42	-0.50
Purchase of Investment Securities	-72	-103	-87	-38	-27	16	-12	50	-43	-4.34	9.95
Sale and/or Maturity of Investments	37	51	41	40	21	33	10	9.83	11	75	8.81
Net Cash From Financing Activities	26	102	133	-2.57	6.67	29	-40	62	-91	156	-140
Net Cash From Continuing Financing Activities	26	102	133	-2.57	6.67	29	-40	62	-91	156	-140
Net Change in Deposits	-81	218	91	116	98	79	-33	67	-85	162	-133
Repayment of Debt	-1.25	159	-1.25	-1.25	-1.25	-46	-1.25	-1.25	-1.25	-1.25	-1.25
Payment of Dividends	-4.18	-4.18	-4.18	-4.21	-4.21	-4.21	-4.21	-4.24	-4.24	-4.24	-4.24
Other Financing Activities, Net	77	-111	47	-113	-86	-	-1.13	-	-	-	-1.28
Cash Interest Paid	22	27	26	31	28	32	25	28	25	29	22
Cash Income Taxes Paid	1.64	1.83	0.00	0.90	0.03	0.55	0.00	0.65	2.02	2.88	0.00

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	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025
Period end date	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025
Total Assets	1,748	1,854	2,114	2,297	2,474	3,186	3,500	3,613	3,826	4,015	4,142
Cash and Due from Banks	57	41	35	46	38	78	18	25	33	29	25
Federal Funds Sold	15	36	13	1.11	15	319	175	1.64	32	215	325
Trading Account Securities	372	309	490	454	399	421	759	664	624	545	590
Loans and Leases, Net of Allowance	1,232	1,384	1,494	1,705	1,924	2,251	2,428	2,717	2,899	2,974	2,971
Loans and Leases	1,247	1,400	1,511	1,722	1,942	2,281	2,456	2,743	2,928	3,005	3,002
Allowance for Loan and Lease Losses	15	16	16	17	17	29	28	25	28	30	31
Premises and Equipment, Net	12	23	23	21	30	29	35	53	86	110	108
Other Assets	60	61	60	69	68	89	86	152	151	143	123
Total Liabilities & Shareholders' Equity	1,748	1,854	2,114	2,297	2,474	3,186	3,500	3,613	3,826	4,015	4,142
Total Liabilities	1,596	1,689	1,936	2,106	2,262	2,962	3,240	3,402	3,601	3,787	3,876
Non-Interest Bearing Deposits	487	479	396	401	380	697	720	694	549	541	540
Interest Bearing Deposits	954	1,067	1,415	1,494	1,635	2,004	2,296	2,187	2,425	2,817	2,928
Long-Term Debt	127	125	120	185	223	217	197	286	442	393	376
Other Long-Term Liabilities	-	-	-	-	22	-	24	36	34	37	31
Commitments & Contingencies	-	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Total Equity & Noncontrolling Interests	152	165	178	191	212	224	260	211	225	228	266
Total Preferred & Common Equity	152	165	178	191	212	224	260	211	225	228	266
Preferred Stock	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Total Common Equity	152	165	178	191	212	224	260	211	225	228	266
Common Stock	23	24	26	28	30	32	33	35	37	39	40
Retained Earnings	130	142	154	170	185	204	238	268	271	279	294
Accumulated Other Comprehensive Income / (Loss)	-0.43	-1.04	-1.89	-6.81	-3.26	-12	-11	-91	-84	-89	-69

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	Q2 2025	Q3 2025	Q1 2026
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	6/30/2025	9/30/2025	3/31/2026
Total Assets	3,518	3,625	3,679	3,702	3,963	3,965	3,989	3,987	4,057	3,985	4,011
Cash and Due from Banks	58	22	30	19	27	28	34	39	36	27	40
Federal Funds Sold	1.05	0.90	1.97	1.80	121	122	124	171	212	109	180
Trading Account Securities	672	665	645	609	606	588	598	547	634	635	598
Loans and Leases, Net of Allowance	2,589	2,728	2,779	2,822	2,952	2,970	2,992	2,986	2,936	2,978	2,961
Loans and Leases	2,614	2,756	2,807	2,850	2,980	2,999	3,021	3,016	2,966	3,009	2,992
Allowance for Loan and Lease Losses	25	28	28	28	28	28	29	31	31	31	31
Premises and Equipment, Net	45	60	67	76	96	102	107	110	110	109	108
Other Assets	153	149	156	175	161	155	134	133	129	127	124
Total Liabilities & Shareholders' Equity	3,518	3,625	3,679	3,702	3,963	3,965	3,989	3,987	4,057	3,985	4,011
Total Liabilities	3,319	3,408	3,461	3,498	3,739	3,741	3,753	3,749	3,816	3,730	3,740
Non-Interest Bearing Deposits	713	606	568	552	521	530	525	520	522	513	511
Interest Bearing Deposits	2,110	2,193	2,268	2,204	2,544	2,650	2,753	2,805	2,870	2,794	2,824
Other Short-Term Payables	-	-	31	-	-	-	-	-	-	-	30
Long-Term Debt	256	351	410	444	441	440	439	391	390	389	375
Commitments & Contingencies	0.00	0.00	0.00	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	241	255	271
Total Preferred & Common Equity	199	217	217	204	224	224	235	238	241	255	271
Preferred Stock	0.00	0.00	0.00	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	241	255	271
Common Stock	34	35	36	36	37	37	38	38	39	39	40
Retained Earnings	263	268	269	271	273	274	276	282	286	291	301
Accumulated Other Comprehensive Income / (Loss)	-98	-85	-88	-104	-86	-87	-78	-82	-84	-75	-69

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

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025
Period end date	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025
DEI Shares Outstanding	16,064,435.00	16,137,999.00	16,215,672.00	16,295,494.00	16,379,752.00	16,469,272.00	16,554,846.00	-	-	-	16,940,785.00
DEI Adjusted Shares Outstanding	16,064,435.00	16,137,999.00	16,215,672.00	16,295,494.00	16,379,752.00	16,469,272.00	16,554,846.00	-	-	-	16,940,785.00
DEI Earnings Per Adjusted Shares Outstanding	1.35	1.43	1.42	1.75	1.75	1.99	3.00	-	-	-	1.92
Growth Metrics	-	-	-	-	-	-	-	-	-	-	-
Revenue Growth	4.91%	4.40%	5.54%	1.61%	7.07%	23.66%	13.36%	-2.71%	-22.41%	0.88%	19.36%
EBITDA Growth	15.79%	5.62%	9.54%	-1.24%	-1.47%	9.71%	48.58%	-4.00%	-45.29%	-1.63%	42.61%
EBIT Growth	17.80%	4.81%	10.58%	-3.76%	1.92%	15.78%	52.02%	-5.58%	-49.85%	-7.87%	50.92%
NOPAT Growth	8.49%	5.86%	0.23%	23.57%	0.64%	14.02%	51.65%	-6.47%	-47.98%	-0.36%	35.38%
Net Income Growth	8.49%	5.86%	0.23%	23.57%	0.64%	14.02%	51.65%	-6.47%	-47.98%	-0.36%	35.38%
EPS Growth	8.00%	5.19%	-0.70%	23.40%	0.00%	13.79%	48.99%	-6.44%	-47.83%	-1.39%	35.21%
Operating Cash Flow Growth	18.68%	-2.88%	-3.11%	18.35%	6.40%	14.39%	36.88%	2.70%	-57.52%	57.66%	16.76%
Free Cash Flow Firm Growth	198.03%	-48.31%	-47.87%	-411.89%	41.07%	190.04%	24.26%	-79.56%	-2,268.78%	148.50%	-84.96%
Invested Capital Growth	-11.24%	-2.60%	2.42%	26.38%	15.46%	1.42%	3.77%	8.67%	34.30%	-7.03%	3.53%
Revenue Q/Q Growth	1.43%	-0.40%	1.62%	1.33%	1.44%	5.92%	2.30%	-3.79%	-5.58%	3.36%	2.65%
EBITDA Q/Q Growth	8.35%	0.23%	2.38%	-0.56%	-0.22%	1.46%	7.74%	-5.47%	-13.25%	4.03%	6.76%
EBIT Q/Q Growth	8.83%	0.55%	1.96%	-0.70%	1.07%	2.80%	7.52%	-6.03%	-15.99%	3.22%	8.18%
NOPAT Q/Q Growth	0.48%	0.39%	-7.38%	11.91%	1.34%	2.98%	7.26%	-6.00%	-15.48%	11.98%	1.02%
Net Income Q/Q Growth	0.48%	0.39%	-7.38%	11.91%	1.34%	2.98%	7.26%	-6.00%	-15.48%	11.98%	1.02%
EPS Q/Q Growth	0.00%	0.71%	-7.24%	12.26%	0.00%	3.66%	6.50%	-5.48%	-15.79%	10.94%	1.59%
Operating Cash Flow Q/Q Growth	14.02%	-2.53%	-2.03%	1.22%	5.32%	3.83%	7.87%	-7.65%	-11.60%	9.78%	2.29%
Free Cash Flow Firm Q/Q Growth	793.31%	-10.20%	174.40%	-151.57%	59.65%	8,521.75%	-48.23%	-34.52%	10.99%	1,463.49%	-82.84%
Invested Capital Q/Q Growth	-11.30%	-10.59%	-19.88%	25.40%	8.22%	1.78%	10.07%	9.33%	3.08%	-7.96%	-0.28%
Profitability Metrics	-	-	-	-	-	-	-	-	-	-	-
EBITDA Margin	58.14%	58.81%	61.04%	59.33%	54.60%	48.44%	63.48%	62.64%	44.17%	43.07%	51.46%
EBIT Margin	50.42%	50.62%	53.04%	50.23%	47.82%	44.77%	60.03%	58.26%	37.66%	34.39%	43.49%
Profit (Net Income) Margin	34.87%	35.35%	33.58%	40.84%	38.38%	35.39%	47.34%	45.51%	30.52%	30.14%	34.19%
Tax Burden Percent	69.16%	69.85%	63.31%	81.29%	80.27%	79.05%	78.86%	78.12%	81.03%	87.64%	78.61%
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	30.84%	30.15%	36.69%	18.71%	19.73%	20.95%	21.14%	21.88%	18.97%	12.36%	21.39%
Return on Invested Capital (ROIC)	6.85%	7.81%	7.84%	8.46%	7.08%	7.47%	11.05%	9.72%	4.15%	3.73%	5.16%
ROIC Less NNEP Spread (ROIC-NNEP)	6.85%	7.81%	7.84%	8.46%	7.08%	7.47%	11.05%	9.72%	4.15%	3.73%	5.16%
Return on Net Nonoperating Assets (RNNOA)	8.01%	6.68%	5.59%	6.99%	7.17%	7.55%	9.45%	9.96%	6.92%	6.89%	8.03%
Return on Equity (ROE)	14.86%	14.49%	13.43%	15.45%	14.24%	15.02%	20.50%	19.68%	11.07%	10.62%	13.19%
Cash Return on Invested Capital (CROIC)	18.76%	10.45%	5.45%	-14.85%	-7.27%	6.07%	7.35%	1.41%	-25.13%	11.02%	1.69%
Operating Return on Assets (OROA)	1.87%	1.83%	1.84%	1.59%	1.50%	1.46%	1.88%	1.67%	0.80%	0.70%	1.02%
Return on Assets (ROA)	1.29%	1.28%	1.16%	1.29%	1.20%	1.16%	1.48%	1.30%	0.65%	0.61%	0.80%
Return on Common Equity (ROCE)	14.86%	14.49%	13.43%	15.45%	14.24%	15.02%	20.50%	19.68%	11.07%	10.62%	13.19%
Return on Equity Simple (ROE_SIMPLE)	14.27%	13.92%	12.95%	14.92%	13.54%	14.62%	19.06%	21.98%	10.73%	10.55%	12.24%
Net Operating Profit after Tax (NOPAT)	22	23	23	29	29	33	50	46	24	24	33
NOPAT Margin	34.87%	35.35%	33.58%	40.84%	38.38%	35.39%	47.34%	45.51%	30.52%	30.14%	34.19%
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	36.08%	35.75%	35.97%	30.76%	39.13%	31.16%	31.14%	34.81%	47.66%	51.12%	45.47%
Operating Expenses to Revenue	48.22%	47.85%	46.96%	50.12%	51.38%	42.25%	41.40%	44.19%	61.46%	64.36%	56.51%
Earnings before Interest and Taxes (EBIT)	31	33	36	35	36	41	63	59	30	27	41
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	36	38	42	41	41	45	67	64	35	34	49
Valuation Ratios	-	-	-	-	-	-	-	-	-	-	-
Price to Book Value (P/BV)	1.35	1.62	1.59	1.17	1.47	1.11	1.59	1.79	1.48	1.58	1.39
Price to Tangible Book Value (P/TBV)	1.35	1.62	1.59	1.17	1.47	1.11	1.59	1.79	1.48	1.58	1.39
Price to Revenue (P/Rev)	3.29	4.11	4.11	3.19	4.18	2.68	3.95	3.70	4.20	4.52	3.87
Price to Earnings (P/E)	9.45	11.64	12.24	7.81	10.88	7.56	8.35	8.13	13.77	14.98	11.32
Dividend Yield	4.85%	4.04%	4.08%	5.71%	4.35%	5.59%	3.76%	4.41%	5.03%	4.67%	4.60%
Earnings Yield	10.59%	8.59%	8.17%	12.80%	9.19%	13.22%	11.98%	12.30%	7.26%	6.67%	8.84%
Enterprise Value to Invested Capital (EV/IC)	0.93	1.09	1.19	0.96	1.11	0.15	0.91	1.28	1.06	0.82	0.62
Enterprise Value to Revenue (EV/Rev)	4.47	4.86	5.16	5.16	6.44	0.74	3.99	6.25	8.97	6.38	4.15
Enterprise Value to EBITDA (EV/EBITDA)	7.69	8.26	8.45	8.70	11.80	1.52	6.29	9.97	20.30	14.83	8.06
Enterprise Value to EBIT (EV/EBIT)	8.87	9.60	9.72	10.28	13.47	1.64	6.65	10.72	23.81	18.57	9.54
Enterprise Value to NOPAT (EV/NOPAT)	12.83	13.75	15.35	12.65	16.79	2.08	8.43	13.72	29.39	21.18	12.14
Enterprise Value to Operating Cash Flow (EV/OCF)	8.94	10.44	12.07	10.38	13.03	1.61	7.22	10.71	28.09	12.80	8.50
Enterprise Value to Free Cash Flow (EV/FCFF)	4.68	10.28	22.07	0.00	0.00	2.56	12.67	94.38	0.00	7.18	37.02
Leverage & Solvency	-	-	-	-	-	-	-	-	-	-	-
Debt to Equity	0.96	0.76	0.67	0.97	1.05	0.97	0.76	1.35	1.97	1.72	1.42
Long-Term Debt to Equity	0.83	0.76	0.67	0.97	1.05	0.97	0.76	1.35	1.97	1.72	1.42
Financial Leverage	1.17	0.85	0.71	0.83	1.01	1.01	0.86	1.02	1.67	1.84	1.56
Leverage Ratio	11.50	11.34	11.55	11.95	11.84	12.99	13.81	15.09	17.06	17.31	16.52
Compound Leverage Factor	11.50	11.34	11.55	11.95	11.84	12.99	13.81	15.09	17.06	17.31	16.52
Debt to Total Capital	48.96%	43.13%	40.20%	49.25%	51.26%	49.24%	43.07%	57.52%	66.28%	63.28%	58.59%
Short-Term Debt to Total Capital	6.36%	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	42.60%	43.13%	40.20%	49.25%	51.26%	49.24%	43.07%	57.52%	66.28%	63.28%	58.59%
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	51.04%	56.87%	59.80%	50.75%	48.74%	50.76%	56.93%	42.48%	33.72%	36.72%	41.41%
Debt to EBITDA	4.03	3.28	2.85	4.47	5.46	4.85	2.96	4.48	12.66	11.42	7.68
Net Debt to EBITDA	2.03	1.27	1.71	3.33	4.15	-4.01	0.06	4.06	10.79	4.34	0.55
Long-Term Debt to EBITDA	3.51	3.28	2.85	4.47	5.46	4.85	2.96	4.48	12.66	11.42	7.68
Debt to NOPAT	6.72	5.45	5.19	6.50	7.76	6.63	3.97	6.16	18.33	16.33	11.56
Net Debt to NOPAT	3.38	2.11	3.11	4.84	5.91	-5.49	0.08	5.59	15.62	6.20	0.82
Long-Term Debt to NOPAT	5.85	5.45	5.19	6.50	7.76	6.63	3.97	6.16	18.33	16.33	11.56
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)	60	31	16	-50	-29	27	33	6.75	-146	71	11
Operating Cash Flow to CapEx	1,246.88%	236.67%	2,782.65%	16,544.76%	3,527.39%	1,823.42%	661.99%	278.91%	69.39%	152.31%	1,397.44%
Free Cash Flow to Firm to Interest Expense	9.94	3.91	1.24	-2.20	-0.91	1.53	2.70	0.21	-1.60	0.60	0.10
Operating Cash Flow to Interest Expense	5.21	3.85	2.26	1.53	1.15	2.43	4.74	1.88	0.28	0.34	0.45
Operating Cash Flow Less CapEx to Interest Expense	4.79	2.22	2.18	1.52	1.11	2.30	4.02	1.21	-0.12	0.12	0.42
Efficiency Ratios	-	-	-	-	-	-	-	-	-	-	-
Asset Turnover	0.04	0.04	0.03	0.03	0.03	0.03	0.03	0.03	0.02	0.02	0.02
Fixed Asset Turnover	5.79	3.73	2.97	3.14	2.92	3.15	3.29	2.33	1.13	0.81	0.87
Capital & Investment Metrics	-	-	-	-	-	-	-	-	-	-	-
Invested Capital	299	291	298	376	435	441	457	497	667	621	642
Invested Capital Turnover	0.20	0.22	0.23	0.21	0.18	0.21	0.23	0.21	0.14	0.12	0.15
Increase / (Decrease) in Invested Capital	-38	-7.77	7.02	79	58	6.16	17	40	170	-47	22
Enterprise Value (EV)	279	316	354	361	482	68	418	637	709	509	395
Market Capitalization	205	268	282	223	312	247	414	377	332	360	368
Book Value per Share	$9.49	$10.25	$10.98	$11.72	$12.93	$13.58	$15.73	$12.69	$13.46	$13.54	$15.70
Tangible Book Value per Share	$9.49	$10.25	$10.98	$11.72	$12.93	$13.58	$15.73	$12.69	$13.46	$13.54	$15.70
Total Capital	299	291	298	376	435	441	457	497	667	621	642
Total Debt	146	125	120	185	223	217	197	286	442	393	376
Total Long-Term Debt	127	125	120	185	223	217	197	286	442	393	376
Net Debt	74	49	72	138	169	-179	4.16	259	377	149	27
Capital Expenditures (CapEx)	2.50	13	1.06	0.21	1.05	2.32	8.74	21	36	26	3.33
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)	146	125	120	185	223	217	197	286	442	393	376
Total Depreciation and Amortization (D&A)	4.81	5.34	5.50	6.35	5.07	3.39	3.62	4.46	5.15	6.92	7.59
Earnings Adjustments	-	-	-	-	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	$1.35	$1.43	$1.42	$1.75	$1.75	$1.99	$3.00	$2.79	$0.00	$1.43	$1.92
Adjusted Weighted Average Basic Shares Outstanding	16.07M	16.14M	16.22M	16.30M	16.38M	16.47M	16.55M	16.64M	0.00	16.83M	16.94M
Adjusted Diluted Earnings per Share	$1.35	$1.42	$1.41	$1.74	$1.74	$1.98	$2.95	$2.76	$0.00	$1.42	$1.92
Adjusted Weighted Average Diluted Shares Outstanding	16.07M	16.14M	16.22M	16.30M	16.38M	16.47M	16.55M	16.64M	0.00	16.83M	16.94M
Adjusted Basic & Diluted Earnings per Share	$0.00	$0.00	$0.00	$0.00	$1.75	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding	16.07M	16.14M	16.22M	16.30M	16.38M	16.47M	16.55M	16.64M	0.00	16.83M	16.94M
Normalized Net Operating Profit after Tax (NOPAT)	22	23	23	29	29	33	50	46	24	24	33
Normalized NOPAT Margin	34.87%	35.35%	33.58%	41.22%	38.38%	35.39%	47.34%	45.51%	30.52%	30.14%	34.19%
Pre Tax Income Margin	50.42%	50.62%	53.04%	50.23%	47.82%	44.77%	60.03%	58.26%	37.66%	34.39%	43.49%
Debt Service Ratios	-	-	-	-	-	-	-	-	-	-	-
EBIT to Interest Expense	5.25	4.18	2.81	1.54	1.11	2.38	5.15	1.88	0.33	0.23	0.40
NOPAT to Interest Expense	3.63	2.92	1.78	1.25	0.89	1.88	4.06	1.47	0.26	0.20	0.32
EBIT Less CapEx to Interest Expense	4.83	2.56	2.73	1.53	1.08	2.24	4.43	1.20	-0.07	0.01	0.37
NOPAT Less CapEx to Interest Expense	3.21	1.30	1.70	1.24	0.86	1.75	3.34	0.79	-0.13	-0.02	0.28
Payout Ratios	-	-	-	-	-	-	-	-	-	-	-
Dividend Payout Ratio	45.77%	46.92%	49.84%	44.53%	47.33%	42.23%	31.33%	35.82%	69.21%	69.88%	51.95%
Augmented Payout Ratio	45.77%	46.92%	49.84%	44.53%	47.33%	42.23%	31.33%	35.82%	69.21%	69.88%	51.95%

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

Metric	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025	Q2 2025	Q3 2025	Q4 2025	Q1 2026
Period end date	9/30/2023	12/31/2023	3/31/2024	6/30/2024	9/30/2024	12/31/2024	3/31/2025	6/30/2025	9/30/2025	12/31/2025	3/31/2026
DEI Shares Outstanding	-	-	-	-	-	-	-	16,923,280.00	16,940,785.00	16,940,785.00	16,940,785.00
DEI Adjusted Shares Outstanding	-	-	-	-	-	-	-	16,923,280.00	16,940,785.00	16,940,785.00	16,940,785.00
DEI Earnings Per Adjusted Shares Outstanding	-	-	-	-	-	-	-	0.47	0.55	0.44	0.62
Growth Metrics	-	-	-	-	-	-	-	-	-	-	-
Revenue Growth	-25.97%	-20.38%	-12.02%	-0.78%	4.44%	14.20%	21.26%	21.73%	23.06%	11.81%	16.63%
EBITDA Growth	-46.53%	-43.05%	-21.37%	-3.42%	8.16%	18.86%	40.07%	49.68%	43.80%	36.97%	29.02%
EBIT Growth	-50.40%	-50.32%	-25.05%	-12.05%	1.03%	15.27%	39.74%	62.08%	54.22%	48.54%	34.27%
NOPAT Growth	-49.10%	-49.42%	-25.94%	-11.43%	0.78%	56.84%	35.00%	53.68%	56.49%	4.62%	34.81%
Net Income Growth	-49.10%	-49.42%	-25.94%	-11.43%	0.78%	56.84%	35.00%	53.68%	56.49%	4.62%	34.81%
EPS Growth	-49.28%	-50.00%	-25.53%	-11.43%	0.00%	51.85%	31.43%	51.61%	57.14%	7.32%	32.61%
Operating Cash Flow Growth	-49.07%	-31.50%	145.43%	28.73%	66.23%	49.23%	59.27%	35.24%	-11.78%	9.68%	32.17%
Free Cash Flow Firm Growth	-581.11%	-440.33%	27.97%	78.65%	88.92%	132.55%	147.65%	227.78%	289.45%	-126.78%	-113.98%
Invested Capital Growth	42.44%	34.30%	17.08%	5.91%	4.12%	-7.03%	-5.36%	-4.92%	-4.44%	3.53%	2.65%
Revenue Q/Q Growth	-1.39%	-6.15%	4.33%	2.77%	3.80%	2.62%	10.77%	3.16%	4.93%	-6.76%	15.55%
EBITDA Q/Q Growth	1.46%	-17.85%	20.46%	-3.81%	13.63%	-9.73%	41.95%	2.79%	9.17%	-14.01%	33.71%
EBIT Q/Q Growth	1.31%	-23.85%	28.28%	-11.13%	16.37%	-13.11%	55.51%	3.08%	10.73%	-16.32%	40.57%
NOPAT Q/Q Growth	0.75%	-23.38%	28.38%	-10.62%	14.64%	19.24%	10.50%	1.75%	16.73%	-20.28%	42.38%
Net Income Q/Q Growth	0.75%	-23.38%	28.38%	-10.62%	14.64%	19.24%	10.50%	1.75%	16.73%	-20.28%	42.38%
EPS Q/Q Growth	0.00%	-22.86%	29.63%	-11.43%	12.90%	17.14%	12.20%	2.17%	17.02%	-20.00%	38.64%
Operating Cash Flow Q/Q Growth	0.13%	-7.39%	-15.05%	63.40%	29.30%	-16.86%	-9.33%	38.75%	-15.65%	3.36%	9.26%
Free Cash Flow Firm Q/Q Growth	-25.47%	11.29%	45.02%	65.11%	34.87%	360.51%	-19.52%	-6.43%	-3.44%	-136.83%	58.00%
Invested Capital Q/Q Growth	3.29%	3.08%	-0.37%	-0.16%	1.55%	-7.96%	1.42%	0.30%	2.06%	-0.28%	0.56%
Profitability Metrics	-	-	-	-	-	-	-	-	-	-	-
EBITDA Margin	44.17%	38.66%	44.64%	41.78%	45.74%	40.24%	51.56%	51.37%	53.45%	49.29%	57.04%
EBIT Margin	37.78%	30.66%	37.70%	32.60%	36.55%	30.95%	43.45%	43.41%	45.81%	41.11%	50.02%
Profit (Net Income) Margin	30.36%	24.78%	30.50%	26.52%	29.29%	34.04%	33.95%	33.48%	37.25%	31.85%	39.24%
Tax Burden Percent	80.34%	80.83%	80.89%	81.35%	80.14%	109.98%	78.15%	77.14%	81.32%	77.46%	78.46%
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	19.66%	19.17%	19.11%	18.65%	19.86%	-9.98%	21.85%	22.86%	18.68%	22.54%	21.54%
Return on Invested Capital (ROIC)	4.62%	3.37%	3.78%	3.14%	3.42%	4.22%	4.40%	4.56%	5.24%	4.80%	6.10%
ROIC Less NNEP Spread (ROIC-NNEP)	4.62%	3.37%	3.78%	3.14%	3.42%	4.22%	4.40%	4.56%	5.24%	4.80%	6.10%
Return on Net Nonoperating Assets (RNNOA)	8.01%	5.62%	6.80%	6.04%	6.87%	7.78%	7.93%	8.14%	8.85%	7.48%	9.19%
Return on Equity (ROE)	12.63%	8.99%	10.59%	9.18%	10.30%	11.99%	12.33%	12.69%	14.09%	12.28%	15.29%
Cash Return on Invested Capital (CROIC)	-29.83%	-25.13%	-12.15%	-2.42%	-0.79%	11.02%	9.54%	9.51%	9.43%	1.69%	2.92%
Operating Return on Assets (OROA)	0.88%	0.65%	0.76%	0.65%	0.73%	0.63%	0.92%	0.95%	1.07%	0.96%	1.24%
Return on Assets (ROA)	0.70%	0.53%	0.61%	0.53%	0.59%	0.69%	0.72%	0.74%	0.87%	0.74%	0.97%
Return on Common Equity (ROCE)	12.63%	8.99%	10.59%	9.18%	10.30%	11.99%	12.33%	12.69%	14.09%	12.28%	15.29%
Return on Equity Simple (ROE_SIMPLE)	14.00%	0.00%	9.88%	9.57%	9.13%	0.00%	10.97%	11.98%	12.63%	0.00%	13.03%
Net Operating Profit after Tax (NOPAT)	5.91	4.53	5.81	5.19	5.95	7.10	7.84	7.98	9.31	7.43	11
NOPAT Margin	30.36%	24.78%	30.50%	26.52%	29.29%	34.04%	33.95%	33.48%	37.25%	31.85%	39.24%
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	47.96%	51.30%	49.08%	53.67%	50.41%	51.30%	44.90%	45.37%	44.01%	51.09%	37.99%
Operating Expenses to Revenue	61.19%	66.60%	62.30%	67.40%	63.45%	64.26%	56.55%	56.59%	54.19%	58.89%	49.98%
Earnings before Interest and Taxes (EBIT)	7.35	5.60	7.18	6.38	7.43	6.45	10	10	11	9.59	13
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	8.59	7.06	8.50	8.18	9.29	8.39	12	12	13	11	15
Valuation Ratios	-	-	-	-	-	-	-	-	-	-	-
Price to Book Value (P/BV)	1.24	1.48	0.00	1.30	1.33	1.58	1.41	1.32	1.31	1.39	1.47
Price to Tangible Book Value (P/TBV)	1.24	1.48	0.00	1.30	1.33	1.58	1.41	1.32	1.31	1.39	1.47
Price to Revenue (P/Rev)	3.01	4.20	0.00	3.80	4.05	4.52	4.00	3.60	3.59	3.87	4.03
Price to Earnings (P/E)	8.83	13.77	0.00	13.54	14.56	14.98	12.87	11.00	10.35	11.32	11.30
Dividend Yield	6.64%	5.03%	5.90%	5.79%	5.38%	4.67%	5.02%	5.33%	5.08%	4.60%	4.25%
Earnings Yield	11.33%	7.26%	0.00%	7.38%	6.87%	6.67%	7.77%	9.09%	9.67%	8.84%	8.85%
Enterprise Value to Invested Capital (EV/IC)	1.04	1.06	0.00	0.87	0.88	0.82	0.82	0.73	0.91	0.62	0.86
Enterprise Value to Revenue (EV/Rev)	8.06	8.97	0.00	7.60	7.69	6.38	6.16	5.22	6.32	4.15	5.59
Enterprise Value to EBITDA (EV/EBITDA)	16.76	20.30	0.00	17.95	17.97	14.83	13.67	10.98	12.77	8.06	10.56
Enterprise Value to EBIT (EV/EBIT)	19.04	23.81	0.00	21.89	22.33	18.57	17.05	13.41	15.32	9.54	12.35
Enterprise Value to NOPAT (EV/NOPAT)	23.63	29.39	0.00	27.08	27.65	21.18	19.80	15.92	18.19	12.14	15.69
Enterprise Value to Operating Cash Flow (EV/OCF)	23.63	28.09	0.00	18.66	16.38	12.80	11.89	9.78	12.91	8.50	11.16
Enterprise Value to Free Cash Flow (EV/FCFF)	0.00	0.00	0.00	0.00	0.00	7.18	8.37	7.46	9.43	37.02	29.70
Leverage & Solvency	-	-	-	-	-	-	-	-	-	-	-
Debt to Equity	2.18	1.97	1.97	1.97	1.86	1.72	1.65	1.62	1.53	1.42	1.39
Long-Term Debt to Equity	2.18	1.97	1.97	1.97	1.86	1.72	1.65	1.62	1.53	1.42	1.39
Financial Leverage	1.74	1.67	1.80	1.93	2.01	1.84	1.80	1.79	1.69	1.56	1.51
Leverage Ratio	17.93	17.06	17.22	17.33	17.51	17.31	17.22	17.26	16.26	16.52	15.72
Compound Leverage Factor	17.93	17.06	17.22	17.33	17.51	17.31	17.22	17.26	16.26	16.52	15.72
Debt to Total Capital	68.50%	66.28%	66.35%	66.28%	65.09%	63.28%	62.20%	61.83%	60.40%	58.59%	58.09%
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	68.50%	66.28%	66.35%	66.28%	65.09%	63.28%	62.20%	61.83%	60.40%	58.59%	58.09%
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	31.50%	33.72%	33.65%	33.72%	34.91%	36.72%	37.80%	38.17%	39.60%	41.41%	41.91%
Debt to EBITDA	11.01	12.66	13.52	13.61	13.28	11.42	10.36	9.33	8.48	7.68	7.15
Net Debt to EBITDA	10.50	10.79	8.99	8.97	8.51	4.34	4.79	3.39	5.51	0.55	2.95
Long-Term Debt to EBITDA	11.01	12.66	13.52	13.61	13.28	11.42	10.36	9.33	8.48	7.68	7.15
Debt to NOPAT	15.53	18.33	19.96	20.53	20.43	16.33	15.01	13.52	12.07	11.56	10.63
Net Debt to NOPAT	14.81	15.62	13.26	13.54	13.08	6.20	6.93	4.92	7.85	0.82	4.39
Long-Term Debt to NOPAT	15.53	18.33	19.96	20.53	20.43	16.33	15.01	13.52	12.07	11.56	10.63
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)	-187	-166	-91	-32	-21	54	43	41	39	-14	-6.07
Operating Cash Flow to CapEx	80.21%	61.64%	59.27%	137.67%	216.45%	418.69%	653.42%	1,770.55%	1,758.09%	2,801.19%	2,592.56%
Free Cash Flow to Firm to Interest Expense	-7.65	-6.30	-3.28	-1.05	-0.68	1.81	1.72	1.53	1.49	-0.58	-0.26
Operating Cash Flow to Interest Expense	0.32	0.27	0.22	0.33	0.42	0.36	0.39	0.51	0.43	0.47	0.56
Operating Cash Flow Less CapEx to Interest Expense	-0.08	-0.17	-0.15	0.09	0.23	0.27	0.33	0.48	0.41	0.46	0.54
Efficiency Ratios	-	-	-	-	-	-	-	-	-	-	-
Asset Turnover	0.02	0.02	0.02	0.02	0.02	0.02	0.02	0.02	0.02	0.02	0.02
Fixed Asset Turnover	1.39	1.13	0.98	0.91	0.85	0.81	0.81	0.83	0.86	0.87	0.91
Capital & Investment Metrics	-	-	-	-	-	-	-	-	-	-	-
Invested Capital	647	667	665	664	674	621	629	631	644	642	646
Invested Capital Turnover	0.15	0.14	0.12	0.12	0.12	0.12	0.13	0.14	0.14	0.15	0.16
Increase / (Decrease) in Invested Capital	193	170	97	37	27	-47	-36	-33	-30	22	17
Enterprise Value (EV)	675	709	0.00	580	594	509	516	459	586	395	554
Market Capitalization	252	332	0.00	290	313	360	336	317	333	368	399
Book Value per Share	$12.19	$13.46	$13.31	$13.32	$13.98	$13.54	$14.13	$14.24	$15.06	$15.70	$15.98
Tangible Book Value per Share	$12.19	$13.46	$13.31	$13.32	$13.98	$13.54	$14.13	$14.24	$15.06	$15.70	$15.98
Total Capital	647	667	665	664	674	621	629	631	644	642	646
Total Debt	444	442	441	440	439	393	391	390	389	376	375
Total Long-Term Debt	444	442	441	440	439	393	391	390	389	376	375
Net Debt	423	377	293	290	281	149	181	142	253	27	155
Capital Expenditures (CapEx)	9.70	12	10	7.27	5.98	2.57	1.49	0.76	0.65	0.42	0.50
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)	444	442	441	440	439	393	391	390	389	376	375
Total Depreciation and Amortization (D&A)	1.24	1.46	1.32	1.80	1.87	1.94	1.88	1.90	1.91	1.91	1.89
Earnings Adjustments	-	-	-	-	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	$0.35	$0.27	$0.35	$0.31	$0.35	$0.42	$0.47	$0.47	$0.55	$0.43	$0.62
Adjusted Weighted Average Basic Shares Outstanding	16.73M	16.73M	16.81M	16.83M	16.83M	16.83M	16.92M	16.94M	16.94M	16.94M	17.03M
Adjusted Diluted Earnings per Share	$0.35	$0.27	$0.35	$0.31	$0.35	$0.41	$0.46	$0.47	$0.55	$0.44	$0.61
Adjusted Weighted Average Diluted Shares Outstanding	16.73M	16.73M	16.81M	16.83M	16.83M	16.83M	16.92M	16.94M	16.94M	16.94M	17.03M
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	16.73M	16.73M	16.81M	16.83M	16.83M	16.83M	16.92M	16.94M	16.94M	16.94M	17.03M
Normalized Net Operating Profit after Tax (NOPAT)	5.91	4.53	5.81	5.19	5.95	4.52	7.84	7.98	9.31	7.43	11
Normalized NOPAT Margin	30.36%	24.78%	30.50%	26.52%	29.29%	21.66%	33.95%	33.48%	37.25%	31.85%	39.24%
Pre Tax Income Margin	37.78%	30.66%	37.70%	32.60%	36.55%	30.95%	43.45%	43.41%	45.81%	41.11%	50.02%
Debt Service Ratios	-	-	-	-	-	-	-	-	-	-	-
EBIT to Interest Expense	0.30	0.21	0.26	0.21	0.24	0.22	0.40	0.39	0.43	0.38	0.59
NOPAT to Interest Expense	0.24	0.17	0.21	0.17	0.19	0.24	0.31	0.30	0.35	0.30	0.46
EBIT Less CapEx to Interest Expense	-0.10	-0.23	-0.11	-0.03	0.05	0.13	0.34	0.36	0.41	0.37	0.56
NOPAT Less CapEx to Interest Expense	-0.16	-0.27	-0.16	-0.07	0.00	0.15	0.25	0.27	0.33	0.28	0.44
Payout Ratios	-	-	-	-	-	-	-	-	-	-	-
Dividend Payout Ratio	58.42%	69.21%	75.67%	78.16%	78.12%	69.88%	64.54%	58.40%	52.39%	51.95%	48.01%
Augmented Payout Ratio	58.42%	69.21%	75.67%	78.16%	78.12%	69.88%	64.54%	58.40%	52.39%	51.95%	48.01%

Financials Breakdown Chart

Key Financial Trends

West Bancorporation’s first quarter of 2026 was solid on earnings, but the balance sheet and cash flow trends show some caution flags. WTBA earned $10.6 million, up from $7.4 million in Q4 2025 and $7.8 million in Q1 2025, while net interest income improved to $24.4 million from $24.2 million sequentially and $20.9 million a year ago. However, deposits fell sharply and cash declined meaningfully, which suggests the bank is managing a less stable funding mix even as profitability remains healthy.

Net income improved year over year and quarter over quarter. Q1 2026 net income was $10.6 million, versus $7.4 million in Q4 2025 and $7.8 million in Q1 2025.
Net interest income remained strong. WTBA generated $24.4 million in net interest income, slightly above Q4 2025 and well above the $20.9 million earned in Q1 2025.
Non-interest income rebounded sharply from the prior quarter. Total non-interest income rose to $2.55 million from a negative $0.89 million in Q4 2025, helped by a return to positive fee and other income trends.
Provision for credit losses stayed at zero. That indicates management did not see a need to build reserves in the quarter, which is supportive of current asset quality.
Operating cash flow was strong. The bank produced $12.9 million of cash from operations in Q1 2026, up from $11.8 million in Q4 2025 and $9.7 million in Q1 2025.
Loan balances were broadly stable. Loans and leases net of allowance were $2.96 billion in Q1 2026, slightly below $2.98 billion in Q3 2025 and $2.99 billion in Q1 2025.
Credit loss reserves were steady. Allowance for loan and lease losses was $30.5 million, essentially flat versus prior quarters.
Non-interest expense remained controlled. Total non-interest expense was $13.5 million, only modestly above the prior quarters and still supported by the stronger revenue base.
Deposits dropped sharply in Q1 2026. Net change in deposits was down $133.5 million, reversing the growth seen in Q4 2025 and suggesting funding volatility.
Cash and equivalents fell materially. Net change in cash and equivalents was negative $109.1 million in the quarter, and cash on hand declined versus prior periods.
Equity remains relatively thin versus assets. Total common equity was $270.7 million against $4.01 billion of assets, which is a modest capital cushion for a bank of this size.
Dividend payments continue to consume cash. WTBA paid $4.2 million in dividends and $1.25 million in debt repayment during the quarter, which adds pressure when deposits are falling.

Bottom line: WTBA’s earnings profile looks healthy, with improving profitability and steady asset quality, but the steep deposit outflow and drop in cash are the main things investors should watch. For a regional bank, stable funding is crucial, and that’s the biggest question mark in this quarter’s numbers.

07/12/26 07:30 AM ETAI Generated. May Contain Errors.

West Bancorporation Financials - Frequently Asked Questions

According to the most recent income statement we have on file, West Bancorporation's fiscal year ends in December. Their fiscal year 2025 ended on December 31, 2025.

West Bancorporation's net income appears to be on an upward trend, with a most recent value of $32.56 million in 2025, rising from $21.74 million in 2015. The previous period was $24.05 million in 2024. Check out West Bancorporation's forecast to explore projected trends and price targets.

Over the last 10 years, West Bancorporation's total revenue changed from $62.36 million in 2015 to $95.25 million in 2025, a change of 52.7%.

West Bancorporation's total liabilities were at $3.88 billion at the end of 2025, a 2.4% increase from 2024, and a 142.9% increase since 2015.

In the past 10 years, West Bancorporation's cash and equivalents has ranged from $17.56 million in 2021 to $77.69 million in 2020, and is currently $25.17 million as of their latest financial filing in 2025.

Over the last 10 years, West Bancorporation's book value per share changed from 9.49 in 2015 to 15.70 in 2025, a change of 65.5%.

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Financial statements for NASDAQ:WTBA last updated on 7/2/2026 by MarketBeat.com Staff. New filings and market data are monitored continuously.

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West Bancorporation (WTBA) Financials

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West Bancorporation (WTBA) Financials

Annual Income Statements for West Bancorporation

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Quarterly Cash Flow Statements for West Bancorporation

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Quarterly Balance Sheets for West Bancorporation

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Financials Breakdown Chart

Key Financial Trends

West Bancorporation Financials - Frequently Asked Questions

When does West Bancorporation's financial year end?

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How has West Bancorporation's book value per share changed over the last 10 years?

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