West Bancorporation, Inc. (WTBA) Income Statement
WTBA 2025 at a glance
Fiscal year ended December 31, 2025 · U.S. dollarsWTBA revenue and net income
Where WTBA's revenue goes
2025Each bar shows an amount and its share of revenue. WTBA kept 16.4% of revenue as net income.
WTBA profit margins
WTBA growth rates
to 2025| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Revenue | +0.3% | +14.1% | +12.7% | +11.4% |
| Gross profit | +21.9% | −3.0% | +3.6% | +4.6% |
| Operating income | +50.9% | −11.3% | +0.0% | +2.8% |
| Net income | +35.4% | −11.1% | −0.1% | +4.1% |
| EPS (diluted) | +27.3% | −11.4% | −0.7% | +3.5% |
1-year change and average annual growth (CAGR) over 3, 5 and 10 fiscal years. "—" when a starting value was zero or negative.
WTBA quarterly EPS vs estimates
West Bancorporation beat the analyst EPS estimate in 7 of the last 8 quarters. Next report: October 29, 2026 (estimate $0.65).
WTBA income statement
| 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $198.5M | $197.8M | $169.7M | $133.6M | $116.4M | $109.4M | $107.0M | $92.5M | $81.7M | $72.1M |
| Cost of revenue | $103.2M | $119.7M | $92.0M | $29.1M | $10.7M | $29.4M | $32.8M | $22.5M | $13.0M | $8.9M |
| Gross profit | $95.2M | $78.1M | $77.8M | $104.4M | $105.7M | $80.0M | $74.1M | $70.1M | $68.7M | $63.2M |
| Research & development | — | — | — | — | — | — | — | $0 | $0 | $0 |
| Sales, general & admin | $37.6M | $31.9M | $30.7M | $27.9M | $26.5M | $28.0M | $26.0M | $23.4M | $22.2M | $22.5M |
| Total operating expenses | $53.8M | $50.7M | $48.0M | $45.1M | $42.8M | $38.6M | $38.4M | $35.0M | $32.3M | $30.3M |
| Operating income | $41.4M | $27.4M | $29.8M | $59.4M | $62.9M | $41.4M | $35.7M | $35.1M | $36.4M | $33.0M |
| Interest income | $192.2M | $190.1M | $152.8M | $123.3M | $107.3M | $100.2M | $98.7M | $84.8M | $73.0M | $65.0M |
| Interest expense | $103.2M | $118.7M | $91.3M | $31.6M | $12.2M | $17.4M | $32.2M | $22.7M | $13.0M | $7.9M |
| Income before taxes | $41.4M | $27.4M | $29.8M | $59.4M | $62.9M | $41.4M | $35.7M | $35.1M | $36.4M | $33.0M |
| Income taxes | $8.9M | $3.4M | $5.6M | $13.0M | $13.3M | $8.7M | $7.1M | $6.6M | $13.4M | $9.9M |
| Net income | $32.6M | $24.1M | $24.1M | $46.4M | $49.6M | $32.7M | $28.7M | $28.5M | $23.1M | $23.0M |
| EBITDA | $49.0M | $34.4M | $34.9M | $63.9M | $66.5M | $44.8M | $40.8M | $41.4M | $41.9M | $38.3M |
| EPS (diluted) | $1.91 | $1.50 | $1.44 | $2.75 | $2.96 | $1.98 | $1.75 | $1.73 | $1.55 | $1.40 |
| Gross margin | 48.0% | 39.5% | 45.8% | 78.2% | 90.8% | 73.1% | 69.3% | 75.7% | 84.1% | 87.7% |
| Operating margin | 20.9% | 13.9% | 17.5% | 44.5% | 54.0% | 37.8% | 33.4% | 37.9% | 44.6% | 45.7% |
| Net margin | 16.4% | 12.2% | 14.2% | 34.7% | 42.6% | 29.9% | 26.8% | 30.8% | 28.2% | 31.9% |
| Jun '26 | Mar '26 | Dec '25 | Sep '25 | Jun '25 | Mar '25 | Dec '24 | Sep '24 | Jun '24 | Mar '24 | Dec '23 | Sep '23 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $51.1M | $49.9M | $48.3M | $51.2M | $50.2M | $48.2M | $50.6M | $50.8M | $49.8M | $46.7M | $44.4M | $43.8M |
| Cost of revenue | $23.0M | $23.0M | $25.0M | $26.4M | $26.5M | $25.3M | $30.9M | $30.7M | $30.3M | $27.8M | $26.8M | $24.7M |
| Gross profit | $28.1M | $26.9M | $23.3M | $24.8M | $23.7M | $22.9M | $19.7M | $20.2M | $19.4M | $18.9M | $17.6M | $19.1M |
| Sales, general & admin | $13.8M | $11.3M | $9.7M | $8.5M | $8.5M | $8.1M | $8.2M | $8.0M | $8.3M | $7.4M | $7.4M | $7.5M |
| Total operating expenses | $13.8M | $13.5M | $13.7M | $13.4M | $13.3M | $12.9M | $13.2M | $12.7M | $13.0M | $11.7M | $12.0M | $11.7M |
| Operating income | $14.3M | $13.4M | $9.6M | $11.5M | $10.3M | $10.0M | $6.5M | $7.4M | $6.4M | $7.2M | $5.6M | $7.4M |
| Interest income | $48.5M | $47.4M | $49.2M | $48.9M | $48.0M | $46.1M | $49.3M | $48.6M | $47.6M | $44.6M | $42.7M | $41.1M |
| Interest expense | $23.0M | $23.0M | $25.0M | $26.4M | $26.5M | $25.3M | $29.9M | $30.7M | $30.3M | $27.8M | $26.3M | $24.5M |
| Income before taxes | $14.3M | $13.5M | $9.6M | $11.5M | $10.3M | $10.0M | $6.5M | $7.4M | $6.4M | $7.2M | $5.6M | $7.4M |
| Income taxes | $3.3M | $2.9M | $2.2M | $2.1M | $2.4M | $2.2M | −$644,000 | $1.5M | $1.2M | $1.4M | $1.1M | $1.4M |
| Net income | $11.1M | $10.6M | $7.4M | $9.3M | $8.0M | $7.8M | $7.1M | $6.0M | $5.2M | $5.8M | $4.5M | $5.9M |
| EBITDA | $16.3M | $15.4M | $11.5M | $13.4M | $12.2M | $11.9M | $8.4M | $9.3M | $8.2M | $8.5M | $7.1M | $8.6M |
| EPS (diluted) | $0.64 | $0.61 | $0.43 | $0.55 | $0.47 | $0.46 | $0.49 | $0.35 | $0.31 | $0.35 | $0.27 | $0.35 |
| Gross margin | 55.1% | 53.9% | 48.3% | 48.4% | 47.1% | 47.5% | 38.9% | 39.7% | 39.0% | 40.4% | 39.6% | 43.6% |
| Operating margin | 28.1% | 26.9% | 19.8% | 22.4% | 20.6% | 20.8% | 12.8% | 14.6% | 12.8% | 15.4% | 12.6% | 16.8% |
| Net margin | 21.7% | 21.2% | 15.4% | 18.2% | 15.9% | 16.3% | 14.0% | 11.7% | 10.4% | 12.4% | 10.2% | 13.5% |
Quarterly columns are labeled by the month the quarter ended. Figures in U.S. dollars as reported in WTBA's financial statements (latest annual report filed February 26, 2026); data from EODHD. Sales, general & administrative expenses include sales and marketing.
WTBA financial results
In fiscal year 2025 (ended December 31, 2025), West Bancorporation reported revenue of $198.5 million, up 0.3% from the year before. It had net income of $32.6 million (up 35.4%), a net profit margin of 16.4%. Diluted earnings per share came to $1.91. Over five years revenue grew at an average rate of 12.7% a year.
See the WTBA stock overview for the latest quote and news, or the WTBA chart for price history and technical indicators.
WTBA income statement FAQ
What is West Bancorporation's annual revenue?
West Bancorporation reported total revenue of $198.5 million for fiscal year 2025, which ended on December 31, 2025. That was up 0.3% from $197.8 million the previous year.
Is West Bancorporation profitable?
Yes. West Bancorporation reported net income of $32.6 million in fiscal 2025, a net profit margin of 16.4%; its operating margin was 20.9%.
What is West Bancorporation's gross margin?
West Bancorporation's gross margin was 48.0% in fiscal 2025: for every $100 of revenue, West Bancorporation kept $48 after the direct cost of its products and services.
How fast is West Bancorporation growing?
Revenue grew 12.7% a year on average over the last five fiscal years, from $109.4 million to $198.5 million.
What are West Bancorporation's earnings per share?
West Bancorporation earned $1.91 per diluted share in fiscal 2025, compared with $1.50 a year earlier.
When will West Bancorporation report its next earnings?
West Bancorporation is expected to report results for the quarter ending September 30, 2026 on October 29, 2026 before the market opens.
When does West Bancorporation's fiscal year end?
West Bancorporation's fiscal year ends in December. The latest annual report covers the year ended December 31, 2025 and was filed on February 26, 2026.