West Bancorporation
Provides relationship-led commercial banking through West Bank in Iowa and southern Minnesota.
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Profile
Owns West Bank, a community bank focused on commercial loans, deposits, trust services, and card-linked fees. Its footprint is concentrated in the Des Moines area, Iowa City/Coralville, and southern Minnesota, with earnings shaped mainly by net interest income and local credit quality.
Owns West Bank, the operating bank behind a one-segment holding company. Business lines center on commercial real estate and business lending, deposit accounts, trust services, and card-related fees.
Operates in Iowa and southern Minnesota, with offices around Des Moines, Iowa City/Coralville, Rochester, Owatonna, Mankato, and St. Cloud. The franchise emphasizes local decision-making, personal contacts, flexible loan arrangements, and relationship management rather than a broad national branch network.
Earnings are driven mainly by net interest income, so loan demand, deposit funding, rate competition, and credit quality in local commercial markets shape results. The loan book is commercial-heavy, including commercial real estate and construction exposure.
Company facts
Categories
Key statistics
Year to date +30.8% · Average volume (30d) 68.0K
Analysts
No analyst consensus on record.
Earnings
EPS
Revenue
History
| Report date | EPS est | EPS | Surprise | Revenue est | Revenue | Surprise | Next session |
|---|---|---|---|---|---|---|---|
| Jul 23, 2026Q2 FY26 | $0.63 | $0.64 | +1.6% | $28.2M | $28.2M | +0.2% | +0.29% |
| Apr 23, 2026Q1 FY26 | $0.59 | $0.61 | +3.4% | $27.2M | $27.0M | −0.5% | −1.84% |
| Jan 29, 2026Q4 FY25 | $0.57 | $0.61 | +7.0% | $26.7M | $27.3M | +2.4% | +1.98% |
| Oct 23, 2025Q3 FY25 | $0.47 | $0.55 | +17.0% | $25.3M | $24.8M | −1.9% | +2.29% |
Financial highlights
| 12 quarters | Q1 FY25 | Q2 FY25 | Q3 FY25 | Q4 FY25 | Q1 FY26 | Q2 FY26 | |
|---|---|---|---|---|---|---|---|
| Revenue | $48.2M | $50.2M | $51.2M | $48.3M | $49.9M | $51.1M | |
| Gross profit | $22.9M | $23.7M | $24.8M | $23.3M | $26.9M | $28.1M | |
| Operating income | $10.0M | $10.3M | $11.5M | $9.6M | $13.4M | $14.4M | |
| Net income | $7.8M | $8.0M | $9.3M | $7.4M | $10.6M | $11.1M | |
| Diluted EPS | $0.46 | $0.47 | $0.55 | $0.44 | $0.61 | $0.64 | |
| Gross margin | 47.5% | 47.1% | 48.4% | 48.3% | 53.9% | 55.1% | |
| Operating margin | 20.8% | 20.6% | 22.4% | 19.8% | 26.9% | 28.1% |
Fiscal years (4-quarter sums)FY21 $116.4M · FY22 $133.0M · FY23 $169.7M · FY24 $197.8M · FY25 $197.9M
Revenue by product · Q2 FY26
Balance sheet, Jun 30, 2026Cash & short-term investments $477.6M · Total debt $374.0M · Total assets $4.03B · Shareholders' equity $281.0M
Dividends
Raised for 14 straight years — most recently to $0.26 from $0.25 in Aug 2026. To collect a payout, hold shares through the close before the ex-date.
History
| Ex-date | Record | Paid | Amount | Note |
|---|---|---|---|---|
| Aug 5, 2026 | Aug 5 | Aug 19 | $0.26 | raised from $0.25 |
| May 6, 2026 | May 6 | May 20 | $0.25 | |
| Feb 11, 2026 | Feb 11 | Feb 25 | $0.25 | |
| Nov 5, 2025 | Nov 5 | Nov 19 | $0.25 | |
| Aug 6, 2025 | Aug 6 | Aug 20 | $0.25 | |
| May 7, 2025 | May 7 | May 21 | $0.25 | |
| Feb 5, 2025 | Feb 5 | Feb 19 | $0.25 | |
| Nov 6, 2024 | Nov 6 | Nov 20 | $0.25 |
Ownership
Shares outstanding 17.04M · Float 15.25M · 89.5% free float
Top shareholders13F · 13D/G · Form 4
| Holder | Shares | % outstanding | Form | Filed |
|---|---|---|---|---|
| FMR LLC | 1.44M | 8.47% | 13F | Aug 13, 2026 |
| BlackRock, Inc. | 1.34M | 7.89% | 13F | Aug 7, 2026 |
| Dimensional Fund Advisors LP | 648.6K | 3.81% | 13F | Aug 11, 2026 |
| Vanguard Capital Management LLC | 647.0K | 3.80% | 13F | Aug 13, 2026 |
| West Bancorporation Inc | 415.4K | 2.44% | 13F | Jul 23, 2026 |
Insider tradesForm 4
| Date | Insider | Role | Shares | Avg price |
|---|---|---|---|---|
| Nov 24, 2025 | George D. Milligan | director | −10,000 | $21.71 |
| Nov 21, 2025 | George D. Milligan | director | −5,826 | $22.00 |
| Nov 11, 2025 | Douglas R. Gulling | director | −7,900 | $21.75 |
Peers
- Nicolet Bankshares
Upper Midwest community-bank successor to MidWestOne
- QCR
Iowa-focused public community bank with commercial overlap
- UMB Financial
Larger regional bank with new Iowa and Minnesota footprint
- U.S. Bancorp
Superregional bank competing across deposits and commercial services
- Bridgewater Bancshares
Twin Cities commercial bank focused on entrepreneurs and CRE
- Alerus Financial
Commercial wealth bank with southern Minnesota and Iowa overlap
CompareAfter-hours close
| Company | Price | Change | |||||
|---|---|---|---|---|---|---|---|
| West Bancorporation | $28.48 | 0.00% | $485.4M | 12.7 | 10.6 | 2.4 | +19.3% |
| Nicolet Bankshares | $171.74 | −0.02% | $2.97B | 19.1 | 13.3 | 5.7 | +227.9% |
| QCR | $100.63 | −0.11% | $1.66B | 11.9 | 11.8 | 2.7 | +19.0% |
| UMB Financial | $144.59 | +0.07% | $10.98B | 12.0 | 11.0 | 2.4 | +22.9% |
| U.S. Bancorp | $62.47 | +0.01% | $97.31B | 12.5 | 11.5 | 2.2 | +10.6% |
| Bridgewater Bancshares | $21.32 | −0.07% | $594.5M | 11.6 | 10.8 | 2.3 | +14.5% |
| Alerus Financial | $33.12 | −0.09% | $832.3M | 30.7 | 12.3 | 2.5 | +8.3% |
| Median | 12.3 | 11.6 | 2.5 | +16.8% |