West Bancorporation Q3 net income rises on higher net interest income
WTBA•West Bancorporation's third-quarter net income rose 25% year over year to $11.6 million, while diluted EPS increased to $0.67 from $0.55. Net interest income was $26.4 million, and adjusted net interest margin was 2.77%.
1. Quarterly results
West Bancorporation reported third-quarter net income of $11.6 million, up 25% year over year. Diluted EPS rose to $0.67 from $0.55 a year earlier, and net interest income was $26.4 million.
2. Loan and margin details
The company said stronger profitability was driven by net interest margin expansion and expense discipline. It reported no nonaccrual loans and lower substandard and watch list loan balances. Its adjusted net interest margin was 2.77%.
