West Bancorporation reports Q3 EPS 35c vs 69c last year

The efficiency ratio was 60.83 percent for the third quarter of 2023, compared to 62.83 percent for the second quarter of 2023. The decrease in the efficiency ratio was primarily due to the increase in noninterest income and decrease in noninterest expense, partially offset by the decrease in net interest income. Net interest margin, on a fully tax-equivalent basis, was 1.91 percent for the third quarter of 2023, compared to 2.02 percent for the second quarter of 2023. David Nelson, President and Chief Executive Officer of the Company, commented, “West Bank and the banking industry are healthy and strong. While West Bank’s earnings have been negatively impacted by the unprecedented size and pace of the Federal Reserve’s interest rate increases over the last 18 months, we remain committed to delivering high quality services and products, building strong relationships and delivering long-term shareholder value.”