West Bancorporation, Inc., parent company of West Bank, is pleased to report tremendous growth in the second quarter of 2016. West Bank added $106 million to its loan portfolio and added $65 million in deposits.
Net income was $5.5 million, or $0.34 per diluted common share. This is the highest net income ever recorded by the Company for the second quarter of any year.
West Bank has been recognized as a national leader among banks with an asset size of $1 billion to $5 billion, according to Bank Director Magazine.
The publication recently named the top 166 small-to-medium size banks, to which West Bank is ranked 9th on the list. The ranking is based on profitability, capital adequacy, and asset quality metrics.