Form 8-K

8-K — WEST BANCORPORATION INC

Accession: 0001166928-26-000024

Filed: 2026-04-23

Period: 2026-04-23

CIK: 0001166928

SIC: 6022 (STATE COMMERCIAL BANKS)

Item: Results of Operations and Financial Condition

Item: Regulation FD Disclosure

Item: Financial Statements and Exhibits

Documents

8-K — wtba-20260423.htm (Primary)

EX-99.1 (wtba-20260423exhibit991.htm)

EX-99.2 (wtba-20260423exhibit992.htm)

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8-K

8-K (Primary)

Filename: wtba-20260423.htm · Sequence: 1

wtba-20260423

0001166928false00011669282026-04-232026-04-23

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, D.C. 20549

FORM 8-K

CURRENT REPORT

Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934

Date of Report (Date of Earliest Event Reported): April 23, 2026

WEST BANCORPORATION, INC.

(Exact name of registrant as specified in its charter)

Iowa 0-49677 42-1230603

(State or other jurisdiction of incorporation) (Commission File Number) (I.R.S. Employer Identification No.)

3330 Westown Parkway, West Des Moines, Iowa 50266

(Address of principal executive offices) (Zip Code)

Registrant's telephone number, including area code: 515-222-2300

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

o Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

o Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

o Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

o Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered or to be registered pursuant to Section 12(b) of the Act:

Title of each class Trading Symbol(s) Name of each exchange on which registered

Common stock, no par value WTBA The Nasdaq Global Select Market

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 or Rule 12b-2 of the Securities Exchange Act of 1934.

Emerging growth company o

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. o

Item 2.02 Results of Operations and Financial Condition.

On April 23, 2026, West Bancorporation, Inc. (the "Company") issued a press release announcing its first quarter earnings results for the period ended March 31, 2026, and the declaration of a quarterly dividend. A copy of the press release is attached hereto as Exhibit 99.1.

The information furnished in this item of this Form 8-K, and the related exhibit, shall not be deemed "filed" for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the "Exchange Act"), or incorporated by reference in any filing under the Securities Act of 1933, as amended (the "Securities Act"), or the Exchange Act, except as may be expressly set forth by specific reference in such filing.

Item 7.01 Regulation FD Disclosure.

The Company hereby furnishes the Earnings Presentation attached hereto as Exhibit 99.2.

The information furnished in this item of this Form 8-K, and the related exhibit, shall not be deemed "filed" for purposes of Section 18 of the Exchange Act, or incorporated by reference in any filing under the Securities Act or the Exchange Act, except as may be expressly set forth by specific reference in such filing.

Item 9.01 Financial Statements and Exhibits.

(d) Exhibits:

Exhibit Number Description

99.1

Press Release of West Bancorporation, Inc. dated April 23, 2026

99.2

First Quarter 2026 Earnings Presentation

104 Cover Page Interactive Data File (embedded within the Inline XBRL document)

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

West Bancorporation, Inc.

April 23, 2026 By: /s/ Jane M. Funk

Name: Jane M. Funk

Title: Executive Vice President, Treasurer and Chief Financial Officer

EX-99.1

Filename: wtba-20260423exhibit991.htm · Sequence: 2

Document

Exhibit 99.1

Press Release

April 23, 2026

FOR IMMEDIATE RELEASE

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

West Des Moines, IA - 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.

EX-99.2

Filename: wtba-20260423exhibit992.htm · Sequence: 3

wtba-20260423exhibit992

1 NASDAQ: WTBA Q1 2026 | Earnings Highlights

2 Certain statements in this presentation, 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 presentation. 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 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 take, because of the factors described above or because 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. Except as otherwise indicated, this presentation speaks as of the date hereof. The delivery of this presentation shall not, under any circumstances, create any implication that there has been no change in the affairs of West Bancorporation, Inc. after the date hereof. Certain of the information contained herein may be derived from information provided by industry sources. We believe that such information is accurate and that the sources from which it has been obtained are reliable. We cannot guarantee the accuracy of such information, however, and we have not independently verified such information. This presentation 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. This presentation includes reconciliations of non-GAAP financial measures to comparable GAAP financial measures. Disclaimers

3 1Q 2026 Financial Highlights * Presented on a fully taxable equivalent basis; see Appendix for “Non-GAAP Financial Measures.” $26.26 NASDAQ: WTBA March 31, 2026 Closing Price $23.79 1Q 2026 Price Range $21.66 to $26.60 Cash Dividend Per Share Declared On April 22, 2026 $0.25 (payable on May 20, 2026) Annualized Dividend Yield 4.20% 1Q 2026 Total Assets $4.0 billion Gross Loans $3.0 billion Total Deposits $3.3 billion Net Income $10.6 million Annualized ROAA 1.06% Annualized ROAE 15.91% Net Interest Margin* 2.59% Efficiency Ratio* 49.85% NPAs/Assets 0.00% Diluted EPS $0.61

4 • West Bancorporation, Inc. (the “Company”) is a publicly traded, financial holding company (NASDAQ: WTBA) established in 1984. Its sole subsidiary is West Bank, founded in 1893. • West Bank is a full service commercial bank headquartered in West Des Moines, Iowa and has 11 branches and commercial banking offices serving the greater Des Moines, Iowa area; eastern Iowa, which includes Iowa City and Coralville, Iowa; and southern Minnesota, which includes Rochester, Owatonna, Mankato, and St. Cloud, Minnesota. • The Company is a long-standing and reliable, dividend paying community bank. Our mission is to build strong relationships, build strong communities, and build upon our strong reputation to ensure our clients receive exceptional care, our communities receive outstanding support, and the loyalty of our employees and stockholders is rewarded. Company Profile and Mission • One of the Company's key competitive advantages is its client-centric approach to delivering strategic financial solutions to businesses and business owners, driven by the establishment of deep customer relationships and extensive experience in its markets. • First and foremost a community bank, West Bank has built a strong reputation for being responsive to local needs. West Bank employees place a high priority on community involvement, lending their time and talents to a long list of civic and community projects. Mission

5 Experienced Executive Leadership David D. Nelson Director/Chief Executive Officer/President Joined West Bank in 2010 Years in Banking: 43 Prior to joining the Company Mr. Nelson was the President of Southeast Minnesota Business Banking and President of Wells Fargo Bank Rochester in Rochester, Minnesota. Harlee N. Olafson Chief Risk Officer/Executive Vice President Joined West Bank in 2010 Years in Banking: 48 Prior to joining the Company Mr. Olafson was the President of Southwest Minnesota Business Banking and President of Wells Fargo Bank Mankato in Mankato, Minnesota. Bradley P. Peters Executive Vice President West Bank Minnesota Group President Joined West Bank in 2019 Years in Banking: 41 Prior to joining the Company Mr. Peters was the Executive Vice President of a $16 billion regional bank in Minnesota where he was responsible for new market expansion. Jane M. Funk Chief Financial Officer Executive Vice President/Treasurer Joined West Bank in 2014 Years in Banking & Public Accounting: 36 Ms. Funk has extensive experience in the community banking industry and spent 18 years of her career at a large public accounting firm. Brad L. Winterbottom Executive Vice President West Bank President Joined West Bank in 1992 Years in Banking: 46 Mr. Winterbottom has extensive experience in commercial lending and loan portfolio administration and knowledge of the Iowa business community. Todd A. Mather West Bank Central Iowa Market President Joined West Bank in 2019 Years in Banking: 30 Prior to joining West Bank, Mr. Mather spent 8 years at a $16 billion regional bank in Minnesota as a Senior Credit Director and Group Senior Credit Manager.

6 Conservative Organic Growth with Successful Lift-Out Strategies David Nelson joins West Bancorporation, Inc. as CEO. Entered the Rochester, Minnesota market by hiring experienced bankers who had existing strong relationships with local business owners and creating an advisory community board made up of local business owners and leaders. Successful and profitable establishment of market presence led to construction of permanent commercial banking office in 2016. Reached $2 billion in total assets. Expanded into St. Cloud, Mankato, and Owatonna, Minnesota with the same lift- out strategy used in Rochester, Minnesota. Successful and profitable establishment of market presence led to construction of permanent commercial banking offices in each of these three markets during 2022-2025. Reached $3 billion in total assets. Opened new corporate headquarters building in West Des Moines, Iowa in April 2024. The new building consolidated the organization's operations under one roof, and provides space for future growth and enhanced business development opportunities. Reached $4 billion in total assets. 2010 2013 2018 2019 2020 2024 2024

7 Company Highlights – Commitment to Excellence West Bancorporation, Inc. is a high performing company in U.S. community banking, well-versed in providing commercial banking services, including loans and lines of credit and all types of deposit services, to small- and medium-sized businesses in its Iowa and Minnesota markets. Attractive Franchise Strategy Community Service & Philanthropy • A 133 year presence in the Des Moines, Iowa metropolitan area and is West Des Moines' oldest business of any type. • Long track record of growth and stability coupled with attractive financial returns and dividend yield. • Simple and consistent business model with a conservative operating philosophy and expense management controls. • Efficient and right-sized branch network, with a total of 11 offices serving 6 markets. • Organic growth strategy with a track record of successful lift-out strategies and a branch-lite structure. • Disciplined business model highlighted by focus on risk management and consistent execution that has resulted in pristine credit quality. • Superior talent with business expertise in building relationships and providing a differentiated level of service. • In 2025, our employees volunteered over 7,000 hours of community service. • In 2025, the West Bancorporation Foundation and West Bank provided over $550,000 in total philanthropic contributions to more than 182 organizations. • West Bancorporation, Inc.'s corporate headquarters, which opened in April 2024, was constructed on a redevelopment site in West Des Moines, Iowa in an area in need of a catalyst for revitalization.

8 Company Highlights – Commitment to Excellence West Bank is a commercially-focused financial institution operating in high quality markets in Iowa and Minnesota led by a deep and experienced management team with skills developed internally and with other large regional banking institutions. Credit Culture Asset Quality & Risk Management • Strict credit risk management with robust processes and experienced credit personnel. • 30 high quality commercial bankers with an average of 22 years of commercial banking experience. • Centralized committee structure that is agile and responsive to customer needs and an organizational structure that provides deep support of credit and administrative functions. • We are a local lender to local customers. • Proven credit culture with a history of strong asset quality. • Classified and watch list loan balance was 1.38% of the loan portfolio at March 31, 2026. • No nonperforming assets at March 31, 2026. • Commercial real estate stress testing is completed quarterly. • Independent third party loan review is performed semi-annually.

9 1Q 2026 Income Statement Highlights (in thousands) For the Quarter Ended Q1 '25 Q4 '25 Q1 '26 Linked Quarter Comments Q4 '25 vs. Q1 '26 Net interest income $ 20,855 $ 24,206 $ 24,385 Increase primarily due to decreases in rates on deposits and average deposit balances, partially offset by a decrease in average balance of deposits with banks. Net interest margin(1) 2.28 % 2.47 % 2.59 % Credit loss expense $ — $ — $ — Noninterest income (excluding securities losses) $ 2,243 $ 3,067 $ 2,554 Decrease primarily due to a one-time third party contract incentive in the fourth quarter of 2025. Realized securities losses $ — $ (3,959) $ — $63.7 million of proceeds from investment security sales in the fourth quarter of 2025 improved balance sheet flexibility and long- term earnings profile. Noninterest expense $ 13,063 $ 13,729 $ 13,465 Decrease primarily due to one-time consulting fees that were incurred in the fourth quarter of 2025.Efficiency ratio(1) 56.37 % 50.21 % 49.85 % Income tax expense $ 2,193 $ 2,160 $ 2,902 Net income $ 7,842 $ 7,425 $ 10,572 Return on average equity 13.84 % 11.33 % 15.91 % (1) Presented on a fully taxable equivalent basis; see Appendix for “Non-GAAP Financial Measures.”

10 Net Interest Income (1) Presented on a fully taxable equivalent basis; see Appendix for “Non-GAAP Financial Measures.” $20.9 $21.4 $22.5 $24.2 $24.4 1Q25 2Q25 3Q25 4Q25 1Q26 Net Interest Income ($ in millions) 2.28% 2.27% 2.36% 2.47% 2.59% Net interest margin %(1) Quarterly Highlights • Net interest income increased $0.2 million and net interest margin increased 12 bps in Q1 2026 compared to Q4 2025. Increases were primarily driven by decreases in rates on deposits and average deposit balances. • Average balances of interest-earning deposits with banks decreased as a result of the decrease in average deposit balances. • Interest income on loans decreased $1.0 million primarily due to average loan balances decreasing by $11.3 million. Loan yields were 5.59% in both Q1 2026 and Q4 2025. Fixed-rate loan originations and renewals continue to price at higher prevailing market rates. • Deposit interest expense decreased $1.9 million, primarily due to the cost of interest-bearing deposits decreasing 14 bps from Q4 2025 to Q1 2026. Also contributing to the decrease was the decline in average deposit balances of $52.1 million in Q1 2026.

11 $3,016 $2,990 $2,960 $2,983 $2,971 $3,002 $2,992 1Q25 2Q25 3Q25 4Q25 1Q26 4Q25 1Q26 Loans • Loans decreased $10.1 million in Q1 2026, primarily due to a decrease in construction loans, partially offset by increases in 1-4 family and commercial real estate loans. We continue to experience loan payoffs as a result of secondary market refinancings and asset and business sales. • Quarterly average loans decreased $11.3 million compared to Q4 2025. • Commercial real estate loans are well diversified among various industry sectors. • Loan yields were 5.59 percent in both Q1 2026 and Q4 2025. While the yield on the variable-rate loan portfolio is lower in Q1 2026, resulting from declines in the federal funds rate in Q4 2025, the fixed-rate loan portfolio continues to price at higher prevailing market rates. • 39% of the loan portfolio consists of variable-rate loans. Quarterly Highlights 5.52% 5.59% 5.66% 5.59% 5.59% Loans ($ in millions) Average Balances Period End Loan Yield %

12 Loan Mix C & I, 16% CRE - NOO, 34% CRE - OO, 15% Multifamily, 15% 1-4 Family, 5% C & D, 13% Consumer and other, 2% Loan Mix as of March 31, 2026 Total Construction and Development and Commercial Real Estate Loans at March 31, 2026 Sector Balance ($ in thousands) Multifamily $ 589,461 Warehouse & trucking terminals 258,497 Hotels 249,549 Retail 223,835 Office 152,014 Mixed use 125,146 Medical 112,219 Land and land development 108,814 Residential 106,534 Senior care/living 64,531 Other 343,648 Total $ 2,334,248

13 $(94) $(13) $24 $(9) $2 1Q25 2Q25 3Q25 4Q25 1Q26 Credit Quality $0.2 $0.0 $0.0 $0.0 $0.0 1Q25 2Q25 3Q25 4Q25 1Q26 $0.2 $0.0 $0.0 $0.0 $0.0 1Q25 2Q25 3Q25 4Q25 1Q26 $30.5 $30.5 $30.5 $30.5 $30.5 1Q25 2Q25 3Q25 4Q25 1Q26 Net Charge-Offs (Recoveries) ($ in thousands) Substandard Loans ($ in millions) Nonaccrual Loans ($ in millions) Allowance for Credit Losses ($ in millions) 1.01% 1.03% 1.01% 1.02% 1.02% ACL/Loans %

14 Deposits • Total deposits decreased $133.5 million in Q1 2026. The decline in deposits was due to normal cash flow fluctuations of our core depositors. • Brokered deposits decreased $38.1 million in Q1 2026. • Deposit costs decreased 14 bps in Q1 2026 compared to Q4 2025. • West Bank participates in a reciprocal deposit network which enables depositors to receive FDIC insurance coverage on deposits otherwise exceeding the maximum insurable amount. • Estimated uninsured deposits, excluding deposits in a reciprocal deposit network, brokered deposits and public funds protected by state programs, were approximately 27.0% of total deposits at the end of Q1. Quarterly Highlights $3,284 $3,354 $3,334 $3,419 $3,348 $3,468 $3,335 1Q25 2Q25 3Q25 4Q25 1Q26 4Q25 1Q26 Average Balances Deposit Cost % Period End Deposits ($ in millions) 3.15% 3.19% 3.17% 2.89% 2.75% Brokered Deposits, 3% Noninterest- Bearing, 15% Interest-Bearing Demand, 15% Savings and Money Market, 52% Time Deposits, 15% Deposit Mix as of March 31, 2026

15 Funding and Liquidity Cost of liability funding ($ in thousands) Cash and cash equivalents $ 361,978 Unpledged securities 47,027 FHLB borrowing availability 673,525 Unsecured lines of credit availability 75,000 Federal Reserve discount window availability 37,066 Total as of 3/31/2026 $ 1,194,596 $3,676 $3,745 $3,723 $3,806 $3,724 $522 $503 $512 $524 $506 $2,762 $2,851 $2,822 $2,894 $2,842 $392 $391 $389 $388 $376 Average Noninterest-Bearing Deposits Average Interest-Bearing Deposits Average Borrowings 1Q25 2Q25 3Q25 4Q25 1Q26 3.25% 3.28% 3.26% 3.02% 2.90% Overall Funding Costs Sources of Liquidity West Bank also maintains master brokered deposit agreements with brokerage firms and deposit networks. ($ in millions)

16 9.0% 9.3% 9.4% 9.6% 9.8% 12.0% 12.3% 12.3% 12.4% 12.6% 1Q25 2Q25 3Q25 4Q25 1Q26 8.4% 8.3% 8.5% 8.4% 8.7% 10.5% 10.4% 10.5% 10.4% 10.7% 1Q25 2Q25 3Q25 4Q25 1Q26 9.6% 9.9% 9.9% 10.1% 10.4% 12.0% 12.3% 12.3% 12.4% 12.6% 1Q25 2Q25 3Q25 4Q25 1Q26 12.2% 12.5% 12.5% 12.8% 13.0%12.9% 13.2% 13.2% 13.4% 13.5% 1Q25 2Q25 3Q25 4Q25 1Q26 Regulatory Capital Ratios Note: Lines depict regulatory requirements to be considered well-capitalized.Consolidated West Bank Total Risk-Based Capital Ratio Tier 1 Capital Ratio Common Equity Tier 1 Ratio Tier 1 Leverage Ratio 6.5% 10% 8% 5%

17Appendix Appendix Non-GAAP Financial Measures (in thousands) As of and 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.

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- Definition

Name of the City or Town

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Code for the postal or zip code

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Name of the state or province.

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- Definition

A unique 10-digit SEC-issued value to identify entities that have filed disclosures with the SEC. It is commonly abbreviated as CIK.

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Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher SEC

-Name Exchange Act

-Number 240

-Section 12

-Subsection b-2

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Indicate if registrant meets the emerging growth company criteria.

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-Publisher SEC

-Name Exchange Act

-Number 240

-Section 12

-Subsection b-2

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- Definition

Commission file number. The field allows up to 17 characters. The prefix may contain 1-3 digits, the sequence number may contain 1-8 digits, the optional suffix may contain 1-4 characters, and the fields are separated with a hyphen.

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No definition available.

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Two-character EDGAR code representing the state or country of incorporation.

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No definition available.

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- Definition

The exact name of the entity filing the report as specified in its charter, which is required by forms filed with the SEC.

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Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher SEC

-Name Exchange Act

-Number 240

-Section 12

-Subsection b-2

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The Tax Identification Number (TIN), also known as an Employer Identification Number (EIN), is a unique 9-digit value assigned by the IRS.

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-Publisher SEC

-Name Exchange Act

-Number 240

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Local phone number for entity.

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No definition available.

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Boolean flag that is true when the Form 8-K filing is intended to satisfy the filing obligation of the registrant as pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act.

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Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher SEC

-Name Exchange Act

-Number 240

-Section 13e

-Subsection 4c

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Boolean flag that is true when the Form 8-K filing is intended to satisfy the filing obligation of the registrant as pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act.

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-Publisher SEC

-Name Exchange Act

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- Definition

Title of a 12(b) registered security.

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-Publisher SEC

-Name Exchange Act

-Number 240

-Section 12

-Subsection b

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Name of the Exchange on which a security is registered.

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-Publisher SEC

-Name Exchange Act

-Number 240

-Section 12

-Subsection d1-1

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Boolean flag that is true when the Form 8-K filing is intended to satisfy the filing obligation of the registrant as soliciting material pursuant to Rule 14a-12 under the Exchange Act.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher SEC

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-Number 240

-Section 14a

-Subsection 12

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Trading symbol of an instrument as listed on an exchange.

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No definition available.

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- Definition

Boolean flag that is true when the Form 8-K filing is intended to satisfy the filing obligation of the registrant as written communications pursuant to Rule 425 under the Securities Act.

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Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher SEC

-Name Securities Act

-Number 230

-Section 425

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