West Bancorporation reports record earnings for 13th straight quarter
WEST DES MOINES, Iowa — West Bancorporation Inc. has reported a $6.4 million third-quarter 2017 net income, marking the company's highest-ever net income for a third quarter.
West Bancorporation's earnings equal $0.39 per diluted common share, and significantly surpasses last year's third-quarter net income of $5.8 million, or $0.36 per diluted common share.
“West Bancorporation Inc. has again delivered record results,” President and CEO Dave Nelson said in a press release. “We have now had 13 consecutive record quarters for each respective quarter. We are extremely pleased with the company’s year-to-date 2017 earnings success. Management remains committed to achieving superior earnings and creating value for our stockholders in an evolving economic and regulatory environment.”
According to West Bancorporation, the company had $18.9 million, or $1.16 per common share for the first nine months of this year, which was up from $17.0 million in 2016.
“We continued to grow our community banking relationships in all of our markets in the third quarter," West Bank President Brad Winterbottom said in a statement. "We believe West Bank’s risk management practices and capital strength continue to position us well for long-term growth.”
West Bancoporation and its wholly owned subsidiary West Bank, are headquartered in West Des Moines, Iowa.