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EX - 99.1 2 wtba - 20210429exhibit991.htm EX - 99.1 Exhibit 99.1 W West Bancorporation Press Release April 29 , 2021 FOR IMMEDIATE RELEASE For more information contact : Doug Gulling , Executive Vice President , Treasurer and Chief Financial Officer ( 515 ) 222-2309 WEST BANCORPORATION , INC . ANNOUNCES RECORD NET INCOME FOR THE FIRST QUARTER OF 2021 , DECLARES INCREASED AND RECORD QUARTERLY DIVIDEND West Des Moines , IA - West Bancorporation , Inc. ( Nasdaq : WTBA ; the “ Company ” ) , parent company of West Bank , today reported that first quarter 2021 net income was $ 11.8 million , or $ 0.70 per diluted common share , compared to first quarter 2020 net income of $ 8.1 million , or $ 0.49 per diluted common share . On April 28 , 2021 , the Company's Board of Directors declared a regular quarterly dividend of $ 0.24 per common share , an increase of $ 0.02 from the prior quarter and representing a record high quarterly dividend for the Company . The dividend is payable on May 26 , 2021 , to stockholders of record on May 12 , 2021 . Dave Nelson , President and Chief Executive Officer of the Company , commented , “ One year ago , the onset of the COVID - 19 pandemic created significant economic uncertainty across the world . The strength of West Bank's capital , credit quality and customer relationships provided a strong footing for navigating the economic uncertainties and operational difficulties created by the pandemic . One year later , West Bank continues to post record results . Our commitment to our shareholders , customers and communities has never been stronger . We continue to build our brand in Minnesota and are excited to have begun construction of a permanent branch office in Sartell , Minnesota . " Dave Nelson also commented , " West Bank was recently ranked 10th in the nation of best - performing large community banks by S & P Global Market Intelligence . The ranking includes public and privately owned community banks between $ 3 billion and $ 10 billion in assets in 2020 and is based on six financial performance metrics . We are proud of the acknowledgment our team has received . " 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 our 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 financial results on a conference call scheduled for 10:00 a.m. Central Time tomorrow , Friday , April 30 , 2021. The telephone number for the conference call is 888-339-0814 . A recording of the call will be available until May 14 , 2021 , by dialing 877-344-7529 . The replay passcode is 10150543 . 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 consumers and small- to medium - sized businesses . West Bank has seven 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 .