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WEST BANCORPORATION INC

For the period ended Mar 31, 2026. Filed Apr 23, 2026.

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About this filing

A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.

Mar 31, 2026 · Filed Apr 23, 2026

WTBA$30.53-0.6%Stored close · as of Nov 6, 2026

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UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 10-Q

(Mark One)

☒QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934
For the quarterly period ended March 31, 2026
or
☐TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934
For the transition period from __________ to __________

Commission File Number:0-49677

WEST BANCORPORATION, INC.

(Exact Name of Registrant as Specified in its Charter)

Iowa42-1230603
(State of Incorporation)(I.R.S. Employer Identification No.)
3330 Westown Parkway, West Des Moines, Iowa50266
(Address of principal executive offices)(Zip Code)

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

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

Title of each classTrading Symbol(s)Name of each exchange on which registered
Common stock, no par valueWTBAThe Nasdaq Global Select Market

Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days.

Yes ☒ No☐

Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405 of Regulation S-T (§ 232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit such files).

Yes ☒ Noo

Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting company or an emerging growth company. See the definitions of “large accelerated filer,” “accelerated filer,” “smaller reporting company,” and "emerging growth company" in Rule 12b-2 of the Exchange Act.

Large accelerated filer☐
Accelerated filer☒
Non-accelerated filer☐
Smaller reporting company☐
Emerging growth company☐

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

Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act).

Yes☐ No☒

As of April 22, 2026, there were 17,028,101 shares of common stock, no par value, outstanding.

WEST BANCORPORATION, INC.

INDEX

Page
PART I. · FINANCIAL INFORMATION
Item 1.Financial Statements4
Consolidated Balance Sheets as of March 31, 2026 and December 31, 20254
Consolidated Statements of Income for the three months ended March 31, 2026 and 20255
Consolidated Statements of Comprehensive Income (Loss) for the three months ended March 31, 2026 and 20256
Consolidated Statements of Stockholders' Equity for the three months ended March 31, 2026 and 20257
Consolidated Statements of Cash Flows for the three months ended March 31, 2026 and 20258
Notes to Consolidated Financial Statements9
Item 2.Management's Discussion and Analysis of Financial Condition and Results of Operations31
"Safe Harbor" Concerning Forward-Looking Statements31
Critical Accounting Policies32
Non-GAAP Financial Measures33
Overview34
Results of Operations36
Financial Condition43
Item 3.Quantitative and Qualitative Disclosures About Market Risk46
Item 4.Controls and Procedures47
PART II.OTHER INFORMATION
Item 1.Legal Proceedings47
Item 1A.Risk Factors47
Item 2.Unregistered Sales of Equity Securities and Use of Proceeds47
Item 3.Defaults Upon Senior Securities47
Item 4.Mine Safety Disclosures47
Item 5.Other Information47
Item 6.Exhibits47
Signatures49
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