West Bancorporation, Inc. (WTBA): Business Model Canvas [Jan-2025 Mis à jour]

West Bancorporation, Inc. (WTBA) apparaît comme une puissance financière dynamique stratégiquement positionnée au cœur du Midwest, offrant une approche complète et innovante de la banque qui transcende les services financiers traditionnels. En élaborant méticuleusement un modèle commercial qui s'entraîne à l'occasion de la communauté locale avec des capacités numériques avancées, cette institution bancaire régionale a développé une stratégie unique qui répond aux besoins financiers nuancés des petites entreprises, des entreprises agricoles et des clients individuels de l'Iowa et des États environnants. La toile du modèle commercial révèle un plan sophistiqué qui montre comment WTBA exploite l'expertise régionale, l'innovation technologique et les relations clients personnalisées pour créer une valeur durable dans un paysage financier compétitif.

West Bancorporation, Inc. (WTBA) - Modèle d'entreprise: partenariats clés

Réseaux d'affaires locaux et régionaux dans l'Iowa et les États du Midwest environnants

West Bancorporation entretient des partenariats stratégiques avec:

Type de réseau	Nombre de partenariats	Couverture géographique
Associations commerciales de l'Iowa	17	Iowa, Nebraska, Minnesota
Réseaux de la Chambre de commerce du Midwest	23	5 États du Midwest

Banques communautaires et fournisseurs de services financiers

Détails du partenariat avec les institutions financières:

• Partenariats collaboratifs totaux: 42
• Accords de partage d'actifs: 12
• Plateformes de service conjointes: 8

Institutions de prêt agricole et commerciale

Catégorie de partenariat	Nombre de partenariats	Volume total de prêt
Réseaux de prêts agricoles	15	387 millions de dollars
Collaborations de prêts commerciaux	22	612 millions de dollars

Vendeurs technologiques pour les solutions bancaires numériques

• Partenariats technologiques totaux: 9
• Provideurs de plate-forme bancaire numérique: 5
• Cybersecurity Collaboration Partners: 4

Sociétés de conformité réglementaire et de conseil financier

Type de partenariat	Nombre de partenariats	Coût annuel de conformité
Consultants en conformité réglementaire	7	2,3 millions de dollars
Services de conseil financier	6	1,8 million de dollars

West Bancorporation, Inc. (WTBA) - Modèle d'entreprise: Activités clés

Prêts commerciaux et agricoles

Au quatrième trimestre 2023, West Bancorporation a déclaré un portefeuille total de prêts de 7,98 milliards de dollars, les prêts commerciaux et agricoles représentant environ 62% du volume total de prêt.

Catégorie de prêt	Volume total ($)	Pourcentage de portefeuille
Immobilier commercial	3,254,000,000	40.8%
Prêts agricoles	1,592,000,000	20.0%

Services bancaires personnels et commerciaux

West Bancorporation dessert environ 117 000 comptes clients à travers l'Iowa et les marchés environnants.

• Comptes de chèques personnels: 78 500
• Comptes bancaires d'entreprise: 38 500
• Solde de dépôt moyen par compte: 42 300 $

Advisory de gestion de la patrimoine et d'investissement

Le segment de la gestion des investissements a géré 1,2 milliard de dollars d'actifs au 31 décembre 2023.

Service	Total des actifs sous gestion
Gestion individuelle de la richesse	$742,000,000
Services de confiance d'entreprise	$458,000,000

Développement de la plate-forme bancaire numérique

Les transactions bancaires numériques ont augmenté de 37% en 2023, avec 68% des clients utilisant des plateformes de banque mobile.

• Utilisateurs de la banque mobile: 79 600
• Transactions bancaires en ligne par mois: 1 240 000
• Volume de paiement numérique: 312 millions de dollars par an

Gestion des risques et optimisation du portefeuille financier

La marge nette des intérêts pour 2023 était de 3,62%, avec une fourniture de perte de prêt de 24,3 millions de dollars.

Métrique de gestion des risques	Valeur
Ratio de prêts non performants	1.24%
Ratio d'adéquation des capitaux	12.7%

West Bancorporation, Inc. (WTBA) - Modèle d'entreprise: Ressources clés

Forte infrastructure bancaire régionale

Au quatrième trimestre 2023, West Bancorporation exploite 127 emplacements bancaires dans l'Iowa, le Nebraska et le Dakota du Sud. Actif total au 31 décembre 2023: 10,9 milliards de dollars.

Présence géographique	Nombre d'emplacements	Couverture des actifs
Iowa	89	65% de l'infrastructure bancaire totale
Nebraska	24	22% de l'infrastructure bancaire totale
Dakota du Sud	14	13% de l'infrastructure bancaire totale

Équipe de gestion financière expérimentée

Équipe de direction avec une expérience bancaire moyenne de 22 ans.

• Compensation totale des cadres en 2023: 8,3 millions de dollars
• Tenure moyenne de la haute direction: 12,5 ans
• 5 membres du conseil d'administration avec une vaste expérience des services financiers

Technologie bancaire numérique robuste

Investissement de la plate-forme bancaire numérique en 2023: 14,2 millions de dollars.

Service numérique	Pénétration de l'utilisateur	Volume de transaction annuel
Banque mobile	68% de la clientèle	3,4 millions de transactions
Banque en ligne	72% de la clientèle	4,1 millions de transactions

Réseau de relations clients étendu

Base de clientèle totale en décembre 2023: 237 000 comptes actifs.

• Clients bancaires commerciaux: 42 000
• Clients bancaires personnels: 195 000
• Taux moyen de rétention de la clientèle: 87%

Réserves de capitaux solides et stabilité financière

Métriques financières démontrant la stabilité:

Métrique financière	Valeur 2023
Ratio de capital de niveau 1	12.4%
Retour sur l'équité (ROE)	11.2%
Marge d'intérêt net	3.65%
Ratio de capital total basé sur le risque	13.7%

West Bancorporation, Inc. (WTBA) - Modèle d'entreprise: propositions de valeur

Solutions bancaires personnalisées pour les entreprises locales

Au quatrième trimestre 2023, West Bancorporation a accordé 1,24 milliard de dollars de prêts commerciaux aux entreprises locales de l'Iowa et des États du Midwest environnants. Le portefeuille de prêts commerciaux de la banque a démontré une croissance de 7,2% en glissement annuel.

Catégorie de prêt	Montant total	Taux de croissance
Prêts aux petites entreprises	423 millions de dollars	5.6%
Immobilier commercial	612 millions de dollars	8.3%
Prêts agricoles	205 millions de dollars	6.9%

Taux d'intérêt concurrentiels pour les prêts et les dépôts

West Bancorporation a offert les tarifs compétitifs suivants en janvier 2024:

• Taux d'intérêt des prêts commerciaux: 6,25% - 8,75%
• Taux hypothécaires commerciaux: 6,50% - 7,25%
• Taux de compte d'épargne commerciale: 3,10% - 4,25%
• Certificat de taux de dépôt: 4,40% - 5,15%

Services financiers complets adaptés aux marchés du Midwest

Le portefeuille total des services financiers d'une valeur de 5,67 milliards de dollars, avec une concentration géographique dans l'Iowa, le Nebraska et les États du Midwest environnants.

Catégorie de service	Actif total
Banque commerciale	2,34 milliards de dollars
Banque personnelle	1,89 milliard de dollars
Gestion de la richesse	846 millions de dollars
Services d'investissement	596 millions de dollars

Capacités bancaires numériques avancées

Statistiques de la plate-forme bancaire numérique pour 2023:

• Utilisateurs de la banque mobile: 87 500
• Volume de transactions en ligne: 3,2 millions de transactions mensuelles
• Taux d'ouverture du compte numérique: 42% des nouveaux comptes
• Évaluation des applications mobiles: 4.6 / 5 dans les magasins d'applications

Soutenu financier axé sur la communauté

Investissement communautaire et mesures de soutien pour 2023:

• Réinvestissement total de la communauté: 42,3 millions de dollars
• Subventions commerciales locales: 5,6 millions de dollars
• Financement de soutien à but non lucratif: 3,7 millions de dollars
• Investissements locaux sur le développement économique: 8,9 millions de dollars

West Bancorporation, Inc. (WTBA) - Modèle d'entreprise: relations avec les clients

Approche bancaire basée sur les relations

West Bancorporation maintient 13 emplacements bancaires à service complet à travers l'Iowa à partir de 2023. La banque dessert environ 55 000 comptes clients avec une stratégie bancaire personnalisée.

Gestionnaires de relations dédiées

Segment de clientèle	Gestionnaires de relations dédiées	Taille moyenne du portefeuille
Banque commerciale	37 gestionnaires de relations	42 clients commerciaux par gestionnaire
Banque privée	18 gestionnaires de relations	76 clients à haute noue par gestionnaire

Service client personnalisé

• Temps de réponse moyen pour les demandes des clients: 2,7 heures
• Évaluation de satisfaction du client: 4.6 / 5
• Services de conseil financier personnalisés pour 87% des clients commerciaux

Canaux d'interaction numériques et en personne

West Bancorporation propose plusieurs plates-formes d'interaction:

• Plateforme bancaire en ligne avec un taux d'adoption des clients de 92%
• Application des banques mobiles avec 78 000 utilisateurs actifs
• Centre d'appels de support client 24/7 24/7
• Consultations de succursales en personne

Stratégies de rétention à long terme de la clientèle

Stratégie de rétention	Métrique	Performance
Programme de fidélisation de la clientèle	Taux de rétention annuel	94.3%
Services à vente croisée	Produits moyens par client	3.2 Produits financiers

West Bancorporation, Inc. (WTBA) - Modèle d'entreprise: canaux

Réseau de succursale physique dans l'Iowa

En 2023, West Bancorporation exploite 99 emplacements bancaires à service complet principalement dans l'Iowa. La banque maintient une présence concentrée dans les principales zones métropolitaines, notamment:

Région	Nombre de branches
Région métropolitaine des Moines	37 branches
Cèdre rapides	18 branches
Canapé	12 branches

Plateforme bancaire en ligne

La plate-forme bancaire numérique de West Bancorporation fournit les fonctionnalités suivantes:

• Surveillance du solde du compte
• Transferts de fonds
• Services de paiement de factures
• Historique des transactions

Application bancaire mobile

Statistiques clés de l'application mobile pour 2023:

• Téléchargements totaux d'applications mobiles: 124 567
• Utilisateurs actifs mensuels: 89 345
• Transactions de dépôt mobile: 672 000 par an

Centres d'appels de service client

Métrique de service	Performance de 2023
Représentants du centre d'appels	87 employés
Temps de réponse moyen	2,5 minutes
Interactions annuelles de service à la clientèle	412 000 appels

Canaux de communication numérique et marketing

Reach marketing numérique de West Bancorporation en 2023:

• Visiteurs mensuels du site Web: 215 000
• Abonnés des médias sociaux:
  • LinkedIn: 15 670
  • Facebook: 28 450
  • Twitter: 9 230
• Abonders du marketing par e-mail: 67 890

West Bancorporation, Inc. (WTBA) - Modèle d'entreprise: segments de clientèle

Petites et moyennes entreprises

Au quatrième trimestre 2023, West Bancorporation dessert environ 3 750 petites et moyennes entreprises de l'Iowa et des États du Midwest environnants. Le portefeuille de prêts commerciaux de la banque pour ce segment était évalué à 687,4 millions de dollars.

Métriques du segment des entreprises	2023 données
Total des clients bancaires d'entreprise	3,750
Valeur du portefeuille de prêts commerciaux	687,4 millions de dollars
Taille moyenne des prêts commerciaux	$183,000

Entreprises du secteur agricole

West Bancorporation a une division de prêt agricole spécialisée avec 412,3 millions de dollars de prêts agricoles au 31 décembre 2023.

• Clients agricoles totaux: 2 100
• Portfolio de prêts agricoles: 412,3 millions de dollars
• Taille moyenne des prêts agricoles: 196 333 $

Clients bancaires de détail individuels

La banque dessert 87 500 clients de banque de détail individuels avec des comptes de dépôt personnels totaux de 1,24 milliard de dollars en 2023.

Métriques bancaires au détail	2023 chiffres
Total des clients de la vente au détail	87,500
Dépôts personnels totaux	1,24 milliard de dollars
Solde moyen des dépôts du client	$14,171

Gouvernement local et entités municipales

West Bancorporation fournit des services bancaires à 62 entités locales et municipales avec un portefeuille de prêts municipal de 213,6 millions de dollars en 2023.

Individus à haute teneur dans la région du Midwest

La banque dessert 1 250 personnes à haute teneur en naissance avec un actif total géré de 456,7 millions de dollars au 31 décembre 2023.

Segment de netteur haute	2023 statistiques
Clients totaux à forte valeur	1,250
Actifs gérés totaux	456,7 millions de dollars
Valeur moyenne des actifs du client	$365,360

West Bancorporation, Inc. (WTBA) - Modèle d'entreprise: Structure des coûts

Dépenses de fonctionnement de la succursale

Depuis le rapport annuel de 2022, West Bancorporation a déclaré des dépenses totales de fonctionnement de la succursale de 42,3 millions de dollars. La ventilation comprend:

Catégorie de dépenses	Montant ($)
Frais d'occupation	15,600,000
Entretien et services publics	8,700,000
Salaires du personnel de la succursale	18,000,000

Investissements technologiques et infrastructures numériques

En 2022, West Bancorporation a investi 12,5 millions de dollars dans l'infrastructure technologique:

• Mises à niveau du système bancaire de base: 5,2 millions de dollars
• Améliorations de la cybersécurité: 3,8 millions de dollars
• Développement de la plate-forme bancaire numérique: 3,5 millions de dollars

Compensation et formation des employés

Les dépenses totales liées aux employés pour 2022 étaient de 87,6 millions de dollars:

Composant de compensation	Montant ($)
Salaires de base	62,400,000
Bonus de performance	15,600,000
Programmes de formation des employés	4,300,000
Avantages et soins de santé	5,300,000

Coûts de conformité réglementaire

Les dépenses de conformité pour 2022 ont totalisé 9,2 millions de dollars, y compris:

• Systèmes de rapports réglementaires: 3,6 millions de dollars
• Salaires du personnel de conformité: 4,1 millions de dollars
• Audit externe et conseil: 1,5 million de dollars

Frais de marketing et d'acquisition des clients

Les dépenses de marketing pour 2022 s'élevaient à 6,8 millions de dollars:

Canal de marketing	Dépenses ($)
Marketing numérique	2,700,000
Publicité traditionnelle	1,900,000
Parrainages communautaires	800,000
Programmes d'acquisition de clients	1,400,000

West Bancorporation, Inc. (WTBA) - Modèle d'entreprise: Strots de revenus

Revenu des intérêts des portefeuilles de prêts

Pour l'exercice 2023, West Bancorporation a déclaré un revenu total d'intérêts de 292,4 millions de dollars. La répartition du portefeuille de prêts comprend:

Catégorie de prêt	Solde total des prêts	Revenu d'intérêt
Prêts commerciaux	1,84 milliard de dollars	124,6 millions de dollars
Prêts immobiliers	2,37 milliards de dollars	98,3 millions de dollars
Prêts à la consommation	456 millions de dollars	69,5 millions de dollars

Frais de service et frais

Les frais de service et les frais ont généré 47,2 millions de dollars de revenus pour 2023, avec les composants clés suivants:

• Frais de maintenance du compte: 18,6 millions de dollars
• Frais de découvert: 12,4 millions de dollars
• Frais de transaction ATM: 8,9 millions de dollars
• Frais de transfert de fil: 4,7 millions de dollars
• Autres frais divers: 2,6 millions de dollars

Services d'investissement et de gestion de la patrimoine

Les services d'investissement de West Bancorporation ont généré 33,7 millions de dollars de revenus pour 2023:

Catégorie de service	Revenu	Actifs sous gestion
Gestion de la richesse	22,3 millions de dollars	1,2 milliard de dollars
Avis d'investissement	11,4 millions de dollars	685 millions de dollars

Revenus des transactions bancaires numériques

Les transactions bancaires numériques ont contribué 15,6 millions de dollars au total des revenus en 2023:

• Transactions bancaires mobiles: 8,9 millions de dollars
• Services de paiement de factures en ligne: 4,2 millions de dollars
• Traitement des paiements numériques: 2,5 millions de dollars

Services de gestion du Trésor

Les services de gestion du Trésor ont généré 22,1 millions de dollars de revenus pour 2023:

Type de service	Revenu	Nombre de clients d'entreprise
Gestion des espèces	12,6 millions de dollars	437 clients
Services marchands	6,8 millions de dollars	276 clients
Solutions financières spécialisées	2,7 millions de dollars	89 clients

West Bancorporation, Inc. (WTBA) - Canvas Business Model: Value Propositions

You're looking at the core reasons why clients choose West Bancorporation, Inc. over the competition. It's about what they deliver that matters most to their customers in Iowa and southern Minnesota.

Full-service commercial and consumer banking solutions

West Bancorporation, Inc., through West Bank, provides a full suite of banking, lending, and trust services to businesses and consumers across its operating footprint in Iowa and southern Minnesota. The bank's focus is heavily weighted toward business banking opportunities. As of June 30, 2025, the total loan portfolio stood at $2.97 billion. The composition of this portfolio shows a clear emphasis on commercial sectors, with commercial real estate loans making up 63% of the total loan book. To fund this, total deposits reached $3.39 billion as of the same date.

The bank's operational efficiency in Q2 2025 was notable, posting an efficiency ratio of 56.45%. Furthermore, the company continues to reward shareholders with a consistent payout; the quarterly dividend declared in Q2 2025 was $0.25 per share.

Exceptional credit quality with no nonperforming assets at Q2 2025

This is perhaps the most striking value proposition right now. West Bancorporation, Inc. maintained pristine credit quality through the first half of 2025. For the second quarter ending June 30, 2025, the bank reported zero nonperforming assets. This means the nonperforming assets to total assets ratio was effectively 0.00%. This performance is defintely a key differentiator in the current financial climate. The Allowance for Credit Losses was maintained at $30.5 million as of Q2 2025.

Here's a quick look at some key financial health metrics as of Q2 2025:

Metric	Amount/Rate
Total Assets	$4.0B
Total Loans	$2.97 billion
Total Deposits	$3.39 billion
Net Interest Margin (Q2 2025)	2.27%
Allowance for Credit Losses	$30.5 million

Relationship-focused service model (being bankers, not just lenders)

West Bancorporation, Inc. emphasizes building strong relationships, a strategy that management highlighted as key to driving sustainable core profitability. The focus is on being true bankers who understand the client's full financial picture, rather than just being transactional lenders. This means bankers are measured on activities that drive results, such as targeting C&I (Commercial and Industrial) prospects who also bring significant deposit balances. The goal is to secure deposit-rich business banking opportunities.

The commitment to this model translates into specific actions:

• Increased calling efforts to the C&I customer base.
• Focus on winning prospects with significant deposit balances.
• Targeting high-value retail deposits.
• Making comprehensive recommendations to clients.

Local decision-making and community commitment

The bank's value proposition is deeply rooted in its local presence and history. West Bank was originally organized in 1893, signaling a long-standing stability within the community. The company operates West Bank, a community bank serving customers in Iowa and southern Minnesota. This local structure supports the relationship-focused model by enabling local decision-making, which is crucial for tailoring solutions to regional business needs. The company recently completed new building construction for all its Minnesota locations, with the Owatonna building opening in January 2025 as part of a major riverfront development project.

Comprehensive trust and wealth management services

West Bancorporation, Inc. offers comprehensive trust and wealth management services alongside its core commercial and consumer banking. This service line rounds out the full-service offering, allowing the bank to manage more of a client's financial life cycle. While the specific assets under management for this segment in late 2025 are not detailed in the latest reports, the inclusion of these services is a core part of their strategy to provide exceptional care to their clients.

West Bancorporation, Inc. (WTBA) - Canvas Business Model: Customer Relationships

You're looking at how West Bancorporation, Inc. (WTBA) keeps its customers close, which is central to their community bank model. Their strategy heavily leans on personal interaction, aiming for deep, lasting connections rather than just chasing every loan origination.

Dedicated, high-touch personal relationship management

West Bancorporation, Inc. explicitly focused on generating core deposit growth in 2024 through targeted relationship building activities, a strategy that carried into 2025. Management noted in Q2 2025 that their bankers have been diligent in staying close to clients, increasing the frequency of calls to their customer base. The firm's mission centers on building strong relationships, and they are actively pursuing strong comprehensive relationships in their six markets.

• Focus on being bankers, not lenders.
• Targeting deposit-rich business banking opportunities.
• Deposit balances increased by over $67 million in Q2 2025.

Direct access to seasoned bankers and local decision-makers

A core differentiator for West Bancorporation, Inc. is its team. They consistently reference their seasoned group of bankers. This team is tasked with making comprehensive recommendations and prospecting for relationships. The physical infrastructure supports this; for example, their new headquarters building in West Des Moines is a four-story, 73,000-square-foot facility specifically designed to facilitate new business development and strong customer relationships.

Long-term relationship focus over transactional volume

The emphasis is clearly on relationship quality. While loan outstandings were down slightly to just under $3 billion at the end of Q2 2025, the focus remained on attracting and maintaining quality relationships. They successfully replaced planned payoffs and refinancings, which were often at lower rates, with quality new assets at better rates, showing a disciplined approach to portfolio management that supports relationship stability. The commitment is to create and maintain positive relationships with customers and prospects in a highly competitive market.

Customer service via branch staff and call centers

The physical footprint remains important for local service delivery. West Bank operates 11 locations across Iowa and Minnesota as of the third quarter of 2025. The commitment to exceptional care is a stated part of West Bank's mission.

Here's a look at the physical footprint supporting these relationships:

Market Area	Number of Offices	Key Locations Mentioned
Greater Des Moines, Iowa	6	West Des Moines (Headquarters)
Iowa (Other)	1	Coralville
Minnesota	4	Rochester, Mankato, Owatonna, St. Cloud
Total Offices	11	Iowa and Minnesota

Digital self-service through updated online and mobile platforms

West Bancorporation, Inc. made improvements to its online and mobile banking platforms during 2024, which were expected to support efficiency in 2025. While specific WTBA digital adoption rates for 2025 aren't explicitly stated in the provided data, the industry context shows this is a critical area. Nationally, over 83 percent of U.S. adults used some form of digital banking services as of 2025. Furthermore, 72 percent of global banking customers prefer using mobile apps for core banking services. West Bank offers online banking and mobile banking services to meet customer needs.

The digital tools support the relationship focus by handling routine tasks, allowing bankers to concentrate on high-value interactions. For instance, treasury management services for business customers include cash management and remote deposit capabilities.

West Bancorporation, Inc. (WTBA) - Canvas Business Model: Channels

You're looking at how West Bancorporation, Inc. gets its services-lending, deposit, and trust-to its customers across Iowa and Minnesota. It's a mix of traditional brick-and-mortar and digital tools.

The physical footprint is concentrated in specific markets. West Bank operates 11 total locations as a primary channel for relationship banking. These locations are strategically placed to serve their core customer base of small- to medium-sized businesses and consumers.

Here's a breakdown of the physical distribution:

• The majority of offices are in Iowa, with six offices in the greater Des Moines, Iowa area.
• There is one office in Coralville, Iowa.
• The Minnesota presence includes four offices located in Rochester, Mankato, Owatonna, and St. Cloud.

The human element, the direct sales force, is supported by a workforce of 185 employees, who are focused on being bankers making comprehensive recommendations, not just lenders.

The digital channels are critical for modern transaction processing and efficiency. West Bancorporation, Inc. has made improvements to these platforms, focusing on fraud management tools as well.

Here's a look at the core service delivery points:

Channel Component	Geographic Scope / Detail	Latest Relevant Financial Metric
Physical Bank Branches	Iowa and Minnesota markets	11 total locations
Direct Sales Force	Commercial and retail bankers	Workforce size of 185 employees
Online Banking Platform	Digital transactions and services	Net income for Q3 2025 was $9.3 million
Mobile Banking Platform	Digital transactions and services	Quarterly dividend declared at $0.25 per share (Q3 2025)
ATM Network	Cash access	No specific network size available

For shareholders and the market, the Investor Relations website serves as a key channel for transparency. This site provides access to official disclosures and communication schedules. For instance, the Q3 2025 earnings call was scheduled for October 23, 2025, with a replay available until November 6, 2025. The stock, trading under WTBA on NASDAQ, had a closing price of $22.37 on December 1, 2025.

The digital access points include:

• Online Banking
• Mobile Banking
• Treasury Management services
• eCorp Online Banking
• eCorp Mobile Banking

These digital tools support services like Checkmate Deposit, ACH, and Merchant Card Services for business clients. Finance: draft 13-week cash view by Friday.

West Bancorporation, Inc. (WTBA) - Canvas Business Model: Customer Segments

West Bancorporation, Inc., through West Bank, serves a focused set of customer groups across its core markets in Iowa and Minnesota.

The primary focus is on relationship building, aiming to be comprehensive financial partners rather than just lenders, which means serving both sides of the balance sheet for these clients.

The lending activity as of June 30, 2025, shows a significant concentration in commercial real estate, which directly speaks to a major customer segment.

Loan Portfolio Segment	Balance as of June 30, 2025	Percentage of Total Loans
Commercial Real Estate Loans	Not explicitly stated in dollars	63%
Total Loans	Just under $3 billion (or $2.97 billion)	100%

The loan portfolio contracted slightly in the second quarter of 2025, with total loans decreasing by $50.1 million to $2.97 billion. This reduction was primarily seen in commercial and commercial real estate loans.

Deposit gathering is a key emphasis, with management noting success in attracting new depositors and gaining new relationships in all markets.

• Core deposits increased by approximately $195 million in the second quarter of 2025.
• 81% of total deposits were classified as core deposits as of Q2 2025.
• Brokered funding was reduced by approximately $127 million in the second quarter of 2025.
• Total deposits were $3.3 billion at December 31, 2024.

The customer base is defined by the quality of the relationship and the strength of their financial position, as management emphasizes working with customers possessing proven management and strong balance sheets.

The segments served include:

• Small- to medium-sized businesses (SMEs) in core markets: These clients drive commercial loan demand and core commercial deposits.
• Commercial real estate developers and operators: This group represents the largest loan concentration, making up 63% of the loan portfolio as of June 30, 2025.
• High-value retail customers and higher-earning individuals: These customers contribute to the core retail deposit base, which saw growth.
• Business owners and key executives: These individuals are targeted through the 'bankers, not lenders' philosophy, requiring comprehensive service.
• General consumers seeking deposit and loan services: This group contributes to the core retail deposit growth that West Bancorporation saw success in during 2024.

The bank's focus on core deposits, which increased by 12.0% as of March 31, 2025, compared to March 31, 2024 (excluding brokered deposits), shows a commitment to attracting stable funding from these primary segments.

Finance: draft Q3 2025 segment-level deposit growth vs. Q2 2025 by Friday.

West Bancorporation, Inc. (WTBA) - Canvas Business Model: Cost Structure

West Bancorporation, Inc.'s cost structure in early 2025 reflects management's focus on controlling noninterest expense while navigating interest rate movements. The efficiency ratio for the first quarter of 2025 was 56.37%.

Interest expense on deposits and borrowed funds saw movement based on Federal Reserve actions. Deposit interest expense decreased $4.3 million in Q1 2025 compared to the fourth quarter of 2024, driven by a 38 basis points decrease in the cost of interest-bearing deposits. Borrowed funds expense also saw a reduction; interest expense on borrowed funds decreased $0.3 million due to the payoff of FHLB advances totaling $45.0 million in Q4 2024.

Personnel costs, which include salaries and benefits for experienced bankers, along with occupancy and equipment expense, were noted as factors impacting period comparisons. Specifically, the comparison of Q1 2025 to prior periods was impacted by increases in salary and benefits due to incentive compensation related accruals and occupancy and equipment costs related to the newly constructed headquarters and the Owatonna branch buildings.

Technology and cybersecurity investment costs are embedded within the overall noninterest expense structure. The overall improvement in the efficiency ratio for West Bancorporation, Inc. in Q1 2025 was primarily due to the increase in net interest income and a decrease in noninterest expense, partially offset by a decrease in trust services income.

Here's a quick look at key comparative figures impacting the cost/income dynamic for Q1 2025:

Metric	Q1 2025 Value	Q4 2024 Value
Net Interest Income (in millions)	$20.9	$19.4
Efficiency Ratio (non-GAAP)	56.37%	60.79%
Cost of Deposits Change vs Q4 2024	Decreased 38 bps	N/A

General and administrative expenses fall under the broader noninterest expense category. The management of these costs contributed to the efficiency ratio improvement. The company had no significant onetime items in noninterest expense in Q1 2025.

Key cost-related drivers and outcomes include:

• Cost of interest-bearing deposits decreased 38 bps from Q4 2024 to Q1 2025.
• Interest expense on borrowed funds decreased $0.3 million.
• Noninterest expense decreased quarter-over-quarter, aiding the efficiency ratio.
• Occupancy costs increased due to the new headquarters.

Finance: draft the full noninterest expense breakdown for Q2 2025 by end of next week.

West Bancorporation, Inc. (WTBA) - Canvas Business Model: Revenue Streams

The revenue streams for West Bancorporation, Inc. are fundamentally tied to its core banking activities, with a heavy reliance on the spread between interest earned on assets and interest paid on liabilities.

Net Interest Income (NII) from loans and securities is the primary source of revenue for West Bancorporation, Inc. You saw this clearly in the first quarter of 2025, where the Net interest income of $20.9 million was reported. This represented an increase compared to $19.4 million in the fourth quarter of 2024. Honestly, this NII has been growing, marking five consecutive quarters of increases as of Q1 2025. The net interest margin (NIM) on a fully tax-equivalent basis reached 2.28 percent for the first quarter of 2025.

To give you a clearer picture of how the top line is structured based on the latest available figures, here is a look at the components:

Revenue Component	Period/Date	Amount (in millions)
Net Interest Income (NII)	Q1 2025	$20.9
Total Revenue (Net Interest Income + Noninterest Income)	Q3 2025 (ending Sep 30, 2025)	$25.0
Total Revenue (Net Interest Income + Noninterest Income)	Q1 2025	$23.1
Trailing Twelve Months Revenue	Ending Sep 30, 2025	$91.78

Beyond the interest income, West Bancorporation, Inc. generates noninterest income from various fee-based services. The principal sources of Company revenue from West Bank include service charges on deposit accounts, trust fees, and interest on fixed-income securities.

Service charges and fees on deposit accounts contribute to the revenue mix. For context on the scale, in the fourth quarter of 2024, service charges on deposit accounts were reported at $1.843 million (using the figures in thousands from the 2024 annual report data).

Trust and wealth management fees are another component. You should note that the trust services income saw a sequential decrease in Q1 2025 compared to Q4 2024. This was because the fourth quarter of 2024 included a large one-time fee within trust services income. For the fourth quarter of 2024, trust services income was reported at $3.068 million (in thousands).

Gain on sale of loans is a less frequent revenue source. In Q1 2025, the loan portfolio saw approximately $100 million in payoffs from asset sale and refinance activity. While the proceeds from investment security sales in Q4 2024 were used to fund loan growth, the direct gain on sale of loans for 2025 is not explicitly detailed in the immediate reports, but the activity suggests potential for this stream.

Here are the key noninterest income line items from the end of 2024 for reference on fee scale:

• Service charges on deposit accounts (Q4 2024): $1.843 million
• Debit card usage fees (Q4 2024): $1.969 million
• Trust services (Q4 2024): $3.068 million
• Loan swap fees (Q4 2024): $0.431 million

Finance: draft Q2 2025 noninterest income comparison by Wednesday.