WEST DES MOINES, Iowa, April 23, 2026 (GLOBE NEWSWIRE) -- West Bancorporation, Inc. (NASDAQ:WTBA, the "Company")), parent company of West Bank, today reported first quarter 2026 net income of $10.6 million, or $0.61 per diluted common share, compared to fourth quarter 2025 net income of $7.4 million, or $0.43 per diluted common share, and first quarter 2025 net income of $7.8 million, or $0.46 per diluted common share. On April 22, 2026, the Company's Board of Directors declared a regular quarterly dividend of $0.25 per common share. The dividend is payable on May 20, 2026, to stockholders of record on May 6, 2026.

David Nelson, President and Chief Executive Officer of the Company, commented, "Our priorities continue to center on our relationship building strategies to drive improvements in profitability and build shareholder value. Our net interest margin continues to expand and we saw net income increase 34.8 percent in the first quarter of 2026 compared to the first quarter of 2025. Our teams are working hard at the activities that we believe will result in enhanced financial performance."

Mr. Nelson added, "Our balance sheet remains exceptionally strong, supported by solid capital and liquidity levels. Credit quality remains pristine with no loans on nonaccrual status at March 31, 2026. Additionally, this marks our seventh consecutive quarter-end with no loans greater than 30 days past due."

First Quarter 2026 Compared to Fourth Quarter 2025 Overview

Loans decreased $10.1 million, or 0.3 percent, in the first quarter of 2026. We continue to experience notable loan payoffs as a result of secondary market refinancings and asset and business sales. The change in loan mix is primarily due to reclassifications resulting from completed construction projects moving to permanent financing and commercial loan restructurings adding real estate collateral.
No credit loss expense on loans was recorded in either the first quarter of 2026 or fourth quarter of 2025.
The allowance for credit losses to total loans was 1.02 percent as of both March 31, 2026 and December 31, 2025. There were no nonaccrual loans at March 31, 2026 or December 31, 2025. Watch list loans decreased from $52.2 million as of December 31, 2025 to $41.3 million as of March 31, 2026. This decrease was primarily due to the payoff of one commercial real estate loan in the first quarter of 2026 with a balance of $11.4 million.
Deposits decreased $133.5 million, or 3.8 percent, in the first quarter of 2026. Brokered deposits totaled $116.5 million at March 31, 2026, compared to $154.6 million at December 31, 2025, a decrease of $38.1 million. Excluding brokered deposits, deposits decreased $95.4 million, or 2.9 percent, during the first quarter of 2026. The decline in deposits was due to normal cash flow fluctuations of our core depositors. As of March 31, 2026, estimated uninsured deposits, which exclude deposits in a reciprocal deposit network, brokered deposits and public funds protected by state programs, accounted for approximately 27.0 percent of total deposits.
Net interest margin, on a fully tax-equivalent basis (a non-GAAP measure), was 2.59 percent for the first quarter of 2026, compared to 2.47 percent for the fourth quarter of 2025. Net interest income for the first quarter of 2026 was $24.4 million, compared to $24.2 million for the fourth quarter of 2025. The improvement in net interest margin was primarily due to a 14 basis point decrease in the cost of deposits in the first quarter of 2026 when compared to the fourth quarter of 2025.
The efficiency ratio (a non-GAAP measure) improved to 49.85 percent for the first quarter of 2026, compared to 50.21 percent for the fourth quarter of 2025.

The tangible common equity ratio was 6.75 percent as of March 31, 2026, compared to 6.42 percent as of December 31, 2025.

First Quarter 2026 Compared to First Quarter 2025 Overview

Loans decreased $24.8 million at March 31, 2026, or 0.8 percent, compared to March 31, 2025. We continue to experience notable loan payoffs as a result of secondary market refinancings and asset and business sales. The change in loan mix is primarily due to reclassifications resulting from completed construction projects moving to permanent financing and commercial loan restructurings adding real estate collateral.
Deposits increased $10.5 million, or 0.3 percent, at March 31, 2026, compared to March 31, 2025. Included in deposits were brokered deposits totaling $116.5 million at March 31, 2026, compared to $335.5 million at March 31, 2025. Excluding brokered deposits, deposits increased $229.5 million, or 7.7 percent, as of March 31, 2026, compared to March 31, 2025. In the second quarter of 2025, a local municipal customer deposited approximately $243.0 million of bond proceeds that are expected to be withdrawn over a 24 month time period.
Net interest margin, on a fully tax-equivalent basis (a non-GAAP measure), was 2.59 percent for the first quarter of 2026, compared to 2.28 percent for the first quarter of 2025. Net interest income for the first quarter of 2026 was $24.4 million, compared to $20.9 million for the first quarter of 2025. The increase in net interest margin and net interest income was primarily due to a decrease in interest expense on deposits and borrowed funds. The cost of deposits decreased by 40 basis points in the first quarter of 2026 compared to the first quarter of 2025. This was partially offset by a $79.8 million increase in average deposit balances in the first quarter of 2026 compared to the first quarter of 2025. Additionally, the average balance of borrowed funds decreased $16.2 million in the first quarter of 2026, compared to the first quarter of 2025.
The efficiency ratio (a non-GAAP measure) was 49.85 percent for the first quarter of 2026, compared to 56.37 percent for the first quarter of 2025. The improvement in the efficiency ratio in the first quarter of 2026 compared to the first quarter of 2025 was primarily due to the increase in net interest income.

The tangible common equity ratio was 6.75 percent as of March 31, 2026, compared to 5.97 percent as of March 31, 2025. The increase in the tangible common equity ratio was due to growth in retained earnings and a decrease in accumulated other comprehensive loss.

The Company filed its report on Form 10-Q with the Securities and Exchange Commission today. Please refer to that document for a more in-depth discussion of the Company's financial results. The Form 10-Q is available on the Investor Relations section of West Bank's website at www.westbankstrong.com.

The Company will discuss its results in a conference call scheduled for 2:00 p.m. Central Time on Thursday, April 23, 2026. The telephone number for the conference call is 800-715-9871. The conference ID for the conference call is 7846129. A recording of the call will be available until May 7, 2026, by dialing 800-770-2030. The conference ID for the replay call is 7846129 followed by the # key.

About West Bancorporation, Inc. (NASDAQ:WTBA)

West Bancorporation, Inc. is headquartered in West Des Moines, Iowa. Serving customers since 1893, West Bank, a wholly-owned subsidiary of West Bancorporation, Inc., is a community bank that focuses on lending, deposit services, and trust services for small- to medium-sized businesses and consumers. West Bank has six offices in the Des Moines, Iowa metropolitan area, one office in Coralville, Iowa, and four offices in Minnesota in the cities of Rochester, Owatonna, Mankato and St. Cloud.

Certain statements in this report, other than purely historical information, including estimates, projections, statements relating to the Company's business plans, objectives and expected operating results, and the assumptions upon which those statements are based, are "forward-looking statements" within the meanings of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended (the "Exchange Act"). The Company intends such forward-looking statements to be covered by the safe harbor provisions for forward-looking statements contained in the Private Securities Litigation Reform Act of 1995. Forward-looking statements may appear throughout this report. These forward-looking statements are generally identified by the words "believes," "expects," "intends," "anticipates," "projects," "forecasts," "plans," "targets," "future," "confident," "potentially," "probably," "outlook," "may," "should," "would," "could," "will," "strategy," "plan," "opportunity," "will be," "will likely result," "will continue" or similar references, as well as the negative of such words, or references to estimates, predictions or future events. Forward-looking statements are not historical facts but instead represent management's current expectations and forecasts regarding future events, many of which are inherently uncertain and outside of our control. Such forward-looking statements are based upon certain underlying assumptions, known and unknown, risks and uncertainties. Because of the possibility that the underlying assumptions are incorrect or do not materialize as expected in the future, actual results may differ, possibly materially from these forward-looking statements. Risks and uncertainties that may affect future results include, but are not limited to: interest rate risk, including the effects of changes in interest rates; fluctuations in the values of the securities held in our investment portfolio, including as a result of rising interest rates; competitive pressures, including from non-bank competitors such as credit unions, "fintech" companies and digital asset service providers; technological changes implemented by us and other parties, including third-party vendors, which may be more difficult to implement or more expensive than anticipated or which may have unforeseen consequences to us and our customers, including the development and implementation of tools incorporating artificial intelligence; pricing pressures on loans and deposits; our ability to successfully manage liquidity risk; changes in credit and other risks posed by the Company's loan portfolio, including declines in commercial or residential real estate values or changes in the allowance for credit losses dictated by new market conditions, accounting standards or regulatory requirements; the concentration of large deposits from certain clients, including those who have balances above current FDIC insurance limits; the threat or imposition of domestic or foreign tariffs or other governmental policies impacting the global supply chain and the value of products produced by our commercial borrowers; effects on the U.S. economy resulting from actions taken by the federal government, including executive orders and immigration enforcement; changes in local, national and international economic conditions, including the level and impact of inflation, and future monetary policies of the Federal Reserve in response thereto, and possible recession; the impact of bank failures or adverse developments at other banks and related negative publicity about the banking industry in general on investor and depositor sentiment regarding the stability and liquidity of banks; changes in legal and regulatory requirements, limitations and costs; changes in customers' acceptance of the Company's products and services; the occurrence of fraudulent activity, breaches or failures of our or our third-party partners' information security controls or cyber-security related incidents, including as a result of sophisticated attacks using artificial intelligence and similar tools; unexpected outcomes of existing or new litigation involving the Company; the monetary, trade and other regulatory policies of the U.S. government; the effects of acts of war or terrorism, including the wars in Iran and Ukraine and the military conflict between Israel and Hamas in the Middle East; widespread disease, pandemics or epidemics, or other adverse external events; risks related to climate change and the negative impact it may have on our customers and their business; changes to U.S. tax laws, regulations and guidance; potential changes in federal policy and at regulatory agencies; talent and labor shortages; and any other risks described in the "Risk Factors" sections of reports filed by the Company with the Securities and Exchange Commission (the "SEC"). The Company cautions readers not to place undue reliance on any forward-looking statements. Moreover, any of the forward-looking statements that the Company makes in this report or the documents the Company files with or furnishes to the SEC are based only on information then actually known to the Company and upon management's beliefs and assumptions at the time they are made, which may turn out to be wrong because of inaccurate assumptions they might make, because of the factors described above or because of other factors that the Company cannot foresee. Forward-looking statements speak only as of the date they are made, and the Company does not undertake and specifically disclaims any obligation to revise or update such forward-looking statements to reflect current or future events or circumstances after the date hereof or to reflect the occurrence of unanticipated events.

WEST BANCORPORATION, INC. AND SUBSIDIARY
Financial Information (unaudited)

	As of and for the Quarter Ended
KEY PERFORMANCE RATIOS AND OTHER METRICS	March 31, 2026			December 31, 2025			September 30, 2025			June 30, 2025			March 31, 2025
Return on average assets⁽¹⁾		1.06	%		0.72	%		0.92	%		0.80	%		0.81	%
Return on average equity⁽²⁾		15.91			11.33			15.25			13.65			13.84
Net interest margin^(3)(13)		2.59			2.47			2.36			2.27			2.28
Yield on interest-earning assets^(4)(13)		5.04			5.02			5.13			5.07			5.04
Cost of interest-bearing liabilities		2.90			3.02			3.26			3.28			3.25
Efficiency ratio^(5)(13)		49.85			50.21			54.06			56.45			56.37
Nonperforming assets to total assets⁽⁶⁾		0.00			0.00			0.00			0.00			0.00
ACL ratio⁽⁷⁾		1.02			1.02			1.01			1.03			1.01
Loans/total assets		74.59			72.47			75.50			73.12			75.66
Loans/total deposits		89.71			86.54			91.00			87.45			90.73
Tangible common equity ratio⁽⁸⁾		6.75			6.42			6.40			5.94			5.97

COMMON SHARE DATA
Earnings per common share (basic)	$	0.62		$	0.44		$	0.55		$	0.47		$	0.47
Earnings per common share (diluted)		0.61			0.43			0.55			0.47			0.46
Dividends per common share		0.25			0.25			0.25			0.25			0.25
Book value per common share⁽⁹⁾		15.90			15.70			15.06			14.22			14.06
Closing stock price		23.79			22.19			20.32			19.63			19.94
Market price/book value⁽¹⁰⁾		149.62	%		141.34	%		134.93	%		138.05	%		141.82	%
Price earnings ratio⁽¹¹⁾		9.40			12.71			9.31			10.41			10.46
Annualized dividend yield⁽¹²⁾		4.20	%		4.51	%		4.92	%		5.09	%		5.02	%

REGULATORY CAPITAL RATIOS
Consolidated:
Total risk-based capital ratio		12.99	%		12.77	%		12.54	%		12.53	%		12.18	%
Tier 1 risk-based capital ratio		10.34			10.14			9.93			9.89			9.59
Tier 1 leverage capital ratio		8.74			8.44			8.51			8.33			8.36
Common equity tier 1 ratio		9.77			9.56			9.37			9.32			9.02
West Bank:
Total risk-based capital ratio		13.53	%		13.35	%		13.17	%		13.21	%		12.90	%
Tier 1 risk-based capital ratio		12.61			12.44			12.26			12.29			11.99
Tier 1 leverage capital ratio		10.66			10.35			10.50			10.36			10.46
Common equity tier 1 ratio		12.61			12.44			12.26			12.29			11.99

(1) Annualized net income divided by average assets.

(2) Annualized net income divided by average stockholders' equity.

(3) Annualized tax-equivalent net interest income divided by average interest-earning assets.

(4) Annualized tax-equivalent interest income on interest-earning assets divided by average interest-earning assets.

(5) Noninterest expense (excluding other real estate owned expense and write-down of premises) divided by noninterest income (excluding net securities gains/losses and gains/losses on disposition of premises and equipment) plus tax-equivalent net interest income.

(6) Total nonperforming assets divided by total assets.

(7) Allowance for credit losses on loans divided by total loans.

(8) Common equity less intangible assets (none held) divided by tangible assets.

(9) Includes accumulated other comprehensive loss.

(10) Closing stock price divided by book value per common share.

(11) Closing stock price divided by annualized earnings per common share (basic).

(12) Annualized dividend divided by period end closing stock price.

(13) A non-GAAP measure.

WEST BANCORPORATION, INC. AND SUBSIDIARY
Financial Information (unaudited)
(in thousands)
	As of
CONDENSED BALANCE SHEETS	March 31, 2026			December 31, 2025			September 30, 2025			June 30, 2025			March 31, 2025
Assets
Cash and due from banks	$	40,018		$	25,171		$	26,875		$	35,796		$	39,253
Interest-earning deposits with banks		180,218			324,502			109,265			212,450			171,357
Securities purchased under agreements to resell		141,742			121,413			96,792			96,955			—
Securities available for sale, at fair value		456,410			468,447			537,856			536,709			546,619
Federal Home Loan Bank stock, at cost		15,180			15,167			15,190			15,311			15,216
Loans		2,991,638			3,001,690			3,008,888			2,966,357			3,016,471
Allowance for credit losses		(30,523	)		(30,525	)		(30,515	)		(30,539	)		(30,526	)
Loans, net		2,961,115			2,971,165			2,978,373			2,935,818			2,985,945
Premises and equipment, net		107,619			108,380			109,212			109,806			110,270
Bank-owned life insurance		46,500			46,192			45,875			45,567			45,272
Other assets		62,171			61,807			66,042			68,257			72,737
Total assets	$	4,010,973		$	4,142,244		$	3,985,480		$	4,056,669		$	3,986,669

Liabilities and Stockholders' Equity
Deposits	$	3,334,972		$	3,468,470		$	3,306,517		$	3,391,993		$	3,324,518
Borrowings		375,221			376,406			389,076			390,260			391,445
Other liabilities		30,037			31,383			34,754			33,486			32,833
Stockholders' equity		270,743			265,985			255,133			240,930			237,873
Total liabilities and stockholders' equity	$	4,010,973		$	4,142,244		$	3,985,480		$	4,056,669		$	3,986,669

	For the Quarter Ended
AVERAGE BALANCES	March 31, 2026			December 31, 2025			September 30, 2025			June 30, 2025			March 31, 2025
Assets	$	4,027,218		$	4,104,279		$	4,004,769		$	4,016,490		$	3,944,789
Loans		2,971,497			2,982,754			2,959,962			2,989,638			3,016,119
Deposits		3,348,255			3,418,539			3,333,800			3,353,982			3,284,394
Stockholders' equity		269,453			259,932			242,245			234,399			229,874

WEST BANCORPORATION, INC. AND SUBSIDIARY
Financial Information (unaudited)
(in thousands)
	As of
LOANS	March 31, 2026			December 31, 2025			September 30, 2025			June 30, 2025			March 31, 2025
Commercial	$	471,423		$	505,059		$	511,316		$	500,854		$	531,267
Real estate:
Construction, land and land development		376,059			426,833			448,660			459,037			451,230
1-4 family residential first mortgages		139,118			93,122			87,784			86,173			86,292
Home equity		27,084			26,088			27,083			24,285			21,961
Commercial		1,958,189			1,929,766			1,912,235			1,875,857			1,909,330
Consumer and other		22,257			23,374			24,697			22,900			19,323
		2,994,130			3,004,242			3,011,775			2,969,106			3,019,403
Net unamortized fees and costs		(2,492	)		(2,552	)		(2,887	)		(2,749	)		(2,932	)
Total loans	$	2,991,638		$	3,001,690		$	3,008,888		$	2,966,357		$	3,016,471
Less: allowance for credit losses		(30,523	)		(30,525	)		(30,515	)		(30,539	)		(30,526	)
Net loans	$	2,961,115		$	2,971,165		$	2,978,373		$	2,935,818		$	2,985,945

CREDIT QUALITY
Pass	$	2,952,824		$	2,952,015		$	2,973,103		$	2,958,318		$	3,011,231
Watch		41,306			52,227			38,672			10,788			7,991
Substandard		—			—			—			—			181
Doubtful		—			—			—			—			—
Total loans	$	2,994,130		$	3,004,242		$	3,011,775		$	2,969,106		$	3,019,403

DEPOSITS
Noninterest-bearing demand	$	511,013		$	540,358		$	512,869		$	521,990		$	519,771
Interest-bearing demand		489,990			577,814			448,731			461,207			517,409
Savings and money market - non-brokered		1,731,835			1,739,790			1,677,543			1,749,049			1,490,189
Money market - brokered		86,304			99,718			121,849			98,877			143,423
Total nonmaturity deposits		2,819,142			2,957,680			2,760,992			2,831,123			2,670,792
Time - non-brokered		485,658			455,944			462,542			451,463			461,655
Time - brokered		30,172			54,846			82,983			109,407			192,071
Total time deposits		515,830			510,790			545,525			560,870			653,726
Total deposits	$	3,334,972		$	3,468,470		$	3,306,517		$	3,391,993		$	3,324,518

BORROWINGS
Subordinated notes, net	$	80,221		$	80,156		$	80,090		$	80,024		$	79,959
Federal Home Loan Bank advances		270,000			270,000			270,000			270,000			270,000
Long-term debt		25,000			26,250			38,986			40,236			41,486
Total borrowings	$	375,221		$	376,406		$	389,076		$	390,260		$	391,445

STOCKHOLDERS' EQUITY
Preferred stock	$	—		$	—		$	—		$	—		$	—
Common stock		3,000			3,000			3,000			3,000			3,000
Additional paid-in capital		36,553			37,231			36,473			35,773			35,072
Retained earnings		300,596			294,259			291,069			285,990			282,247
Accumulated other comprehensive loss		(69,406	)		(68,505	)		(75,409	)		(83,833	)		(82,446	)
Total stockholders' equity	$	270,743		$	265,985		$	255,133		$	240,930		$	237,873

WEST BANCORPORATION, INC. AND SUBSIDIARY
Financial Information (unaudited)
(in thousands)
	For the Quarter Ended
CONSOLIDATED STATEMENTS OF INCOME	March 31, 2026		December 31, 2025			September 30, 2025		June 30, 2025		March 31, 2025
Interest income:
Loans, including fees	$	40,946	$	41,992		$	42,198	$	41,666	$	40,988
Securities:
Taxable		2,143		2,355			2,643		2,685		2,788
Tax-exempt		638		677			739		742		743
Deposits with banks		2,047		2,808			2,087		2,847		1,617
Securities purchased under agreements to resell		1,617		1,370			1,258		22		—
Total interest income		47,391		49,202			48,925		47,962		46,136
Interest expense:
Deposits		19,261		21,112			22,539		22,676		21,423
Subordinated notes		1,104		1,109			1,107		1,104		1,105
Federal Home Loan Bank advances		2,244		2,316			2,292		2,259		2,235
Long-term debt		397		459			486		504		518
Total interest expense		23,006		24,996			26,424		26,543		25,281
Net interest income		24,385		24,206			22,501		21,419		20,855
Credit loss expense		—		—			—		—		—
Net interest income after credit loss expense		24,385		24,206			22,501		21,419		20,855
Noninterest income:
Service charges on deposit accounts		508		493			491		486		471
Debit card interchange income		472		493			477		478		446
Trust services		1,010		964			894		801		777
Increase in cash value of bank-owned life insurance		308		317			308		295		282
Realized securities losses, net		—		(3,959	)		—		—		—
Other income		256		800			333		350		267
Total noninterest income (loss)		2,554		(892	)		2,503		2,410		2,243
Noninterest expense:
Salaries and employee benefits		7,632		7,579			7,457		7,343		7,004
Occupancy and equipment		2,006		2,083			2,090		2,034		1,963
Data processing		596		673			663		643		617
Technology and software		774		789			794		791		786
FDIC insurance		473		475			637		670		587
Professional fees		278		297			303		303		308
Other expenses		1,706		1,833			1,606		1,701		1,798
Total noninterest expense		13,465		13,729			13,550		13,485		13,063
Income before income taxes		13,474		9,585			11,454		10,344		10,035
Income taxes		2,902		2,160			2,140		2,365		2,193
Net income	$	10,572	$	7,425		$	9,314	$	7,979	$	7,842

Basic earnings per common share	$	0.62	$	0.44		$	0.55	$	0.47	$	0.47
Diluted earnings per common share	$	0.61	$	0.43		$	0.55	$	0.47	$	0.46

NON-GAAP FINANCIAL MEASURES

This report contains references to financial measures that are not defined in GAAP. Such non-GAAP financial measures include the Company's presentation of net interest income and net interest margin on a fully taxable equivalent (FTE) basis and the presentation of the efficiency ratio on an adjusted and FTE basis, excluding certain income and expenses. Management believes these non-GAAP financial measures provide useful information to both management and investors to analyze and evaluate the Company's financial performance. These measures are considered standard measures of comparison within the banking industry. Additionally, management believes providing measures on a FTE basis enhances the comparability of income arising from taxable and nontaxable sources. Limitations associated with non-GAAP financial measures include the risks that persons might disagree as to the appropriateness of items included in these measures and that different companies might calculate these measures differently. These non-GAAP disclosures should not be considered an alternative to the Company's GAAP results. The following table reconciles the non-GAAP financial measures of net interest income and net interest margin on a fully taxable equivalent basis and efficiency ratio on an adjusted and FTE basis.

(in thousands)	For the Quarter Ended
	March 31, 2026			December 31, 2025			September 30, 2025			June 30, 2025			March 31, 2025
Reconciliation of net interest income and net interest margin on a FTE basis to GAAP:
Net interest income (GAAP)	$	24,385		$	24,206		$	22,501		$	21,419		$	20,855
Tax-equivalent adjustment⁽¹⁾		72			70			61			59			66
Net interest income on a FTE basis (non-GAAP)		24,457			24,276			22,562			21,478			20,921
Average interest-earning assets		3,821,463			3,893,827			3,790,154			3,799,081			3,717,441
Net interest margin on a FTE basis (non-GAAP)		2.59	%		2.47	%		2.36	%		2.27	%		2.28	%

Reconciliation of efficiency ratio on an adjusted and FTE basis to GAAP:
Net interest income on a FTE basis (non-GAAP)	$	24,457		$	24,276		$	22,562		$	21,478		$	20,921
Noninterest income		2,554			(892	)		2,503			2,410			2,243
Adjustment for realized securities losses, net		—			3,959			—			—			—
Adjustment for losses on disposal of premises and equipment, net		2			—			—			—			8
Adjusted income		27,013			27,343			25,065			23,888			23,172
Noninterest expense		13,465			13,729			13,550			13,485			13,063
Efficiency ratio on an adjusted and FTE basis (non-GAAP)⁽²⁾		49.85	%		50.21	%		54.06	%		56.45	%		56.37	%

(1) Computed on a tax-equivalent basis using a federal income tax rate of 21 percent, adjusted to reflect the effect of the nondeductible interest expense associated with owning tax-exempt securities and loans. Management believes the presentation of this non-GAAP measure provides supplemental useful information for proper understanding of the financial results, as it enhances the comparability of income arising from taxable and nontaxable sources.

(2) The efficiency ratio expresses noninterest expense as a percent of fully taxable equivalent net interest income and noninterest income, excluding specific noninterest income and expenses. Management believes the presentation of this non-GAAP measure provides supplemental useful information for proper understanding of the Company's financial performance. It is a standard measure of comparison within the banking industry. A lower ratio is more desirable.

For more information contact:

Jane Funk, Executive Vice President, Treasurer and Chief Financial Officer (515) 222-5766

West Bancorporation, Inc. Announces First Quarter 2026 Financial Results And Declares Quarterly Dividend