$WTBA
WEST BANCORPORATION INC

2023 Q3 Form 10-Q Financial Statement

#000116692823000119 Filed on October 26, 2023

View on sec.gov

Income Statement

Concept 2023 Q3
Revenue $41.09M
YoY Change 27.74%
Cost Of Revenue
YoY Change
Gross Profit
YoY Change
Gross Profit Margin
Selling, General & Admin
YoY Change
% of Gross Profit
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $380.0K
YoY Change -7.54%
% of Gross Profit
Operating Expenses
YoY Change
Operating Profit
YoY Change
Interest Expense $24.46M
YoY Change 166.86%
% of Operating Profit
Other Income/Expense, Net
YoY Change
Pretax Income $7.351M
YoY Change -50.4%
Income Tax $1.445M
% Of Pretax Income 19.66%
Net Earnings $5.906M
YoY Change -49.09%
Net Earnings / Revenue 14.37%
Basic Earnings Per Share $0.35
Diluted Earnings Per Share $0.35
COMMON SHARES
Basic Shares Outstanding 16.73M shares
Diluted Shares Outstanding 16.77M shares

Balance Sheet

Concept 2023 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments
YoY Change
Cash & Equivalents $20.62M
Short-Term Investments
Other Short-Term Assets
YoY Change
Inventory
Prepaid Expenses
Receivables
Other Receivables
Total Short-Term Assets
YoY Change
LONG-TERM ASSETS
Property, Plant & Equipment $75.68M
YoY Change 69.71%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $41.60M
YoY Change 8.54%
Total Long-Term Assets
YoY Change
TOTAL ASSETS
Total Short-Term Assets
Total Long-Term Assets
Total Assets $3.702B
YoY Change 5.24%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable
YoY Change
Accrued Expenses $37.40M
YoY Change 5.01%
Deferred Revenue
YoY Change
Short-Term Debt $261.5M
YoY Change 27.87%
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $298.9M
YoY Change 739.21%
LONG-TERM LIABILITIES
Long-Term Debt $128.6M
YoY Change -1.67%
Other Long-Term Liabilities
YoY Change
Total Long-Term Liabilities $128.6M
YoY Change -1.67%
TOTAL LIABILITIES
Total Short-Term Liabilities $298.9M
Total Long-Term Liabilities $128.6M
Total Liabilities $3.498B
YoY Change 5.4%
SHAREHOLDERS EQUITY
Retained Earnings $271.0M
YoY Change 3.14%
Common Stock $3.000M
YoY Change 0.0%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $203.9M
YoY Change
Total Liabilities & Shareholders Equity $3.702B
YoY Change 5.24%

Cashflow Statement

Concept 2023 Q3
OPERATING ACTIVITIES
Net Income $5.906M
YoY Change -49.09%
Depreciation, Depletion And Amortization $380.0K
YoY Change -7.54%
Cash From Operating Activities $7.780M
YoY Change -49.07%
INVESTING ACTIVITIES
Capital Expenditures $9.700M
YoY Change -376.51%
Acquisitions
YoY Change
Other Investing Activities -$35.34M
YoY Change 30.76%
Cash From Investing Activities -$45.04M
YoY Change 47.51%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 26.13M
YoY Change -45.23%
NET CHANGE
Cash From Operating Activities 7.780M
Cash From Investing Activities -45.04M
Cash From Financing Activities 26.13M
Net Change In Cash -11.13M
YoY Change -134.3%
FREE CASH FLOW
Cash From Operating Activities $7.780M
Capital Expenditures $9.700M
Free Cash Flow -$1.920M
YoY Change -110.22%

Facts In Submission

Frame Concept Type Concept / XBRL Key Value Unit
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CY2023Q3 us-gaap Preferred Stock Shares Outstanding
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us-gaap Restricted Stock Value Shares Issued Net Of Tax Withholdings
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us-gaap Provision For Loan And Lease Losses
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us-gaap Provision For Loan And Lease Losses
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us-gaap Payments To Acquire Available For Sale Securities Debt
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us-gaap Payments To Acquire Federal Home Loan Bank Stock
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us-gaap Proceeds From Sale Of Federal Home Loan Bank Stock
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us-gaap Payments For Proceeds From Loans And Leases
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us-gaap Payments To Acquire Property Plant And Equipment
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us-gaap Proceeds From Life Insurance Policies
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us-gaap Net Cash Provided By Used In Investing Activities
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us-gaap Increase Decrease In Deposits
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us-gaap Increase Decrease In Federal Funds Purchased
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us-gaap Proceeds From Issuance Of Subordinated Long Term Debt
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us-gaap Proceeds From Issuance Of Subordinated Long Term Debt
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wtba Proceeds From Issuance Of Fhlb Advances
ProceedsFromIssuanceOfFHLBAdvances
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us-gaap Repayments Of Other Long Term Debt
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us-gaap Payments Related To Tax Withholding For Share Based Compensation
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us-gaap Interest Paid Net
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us-gaap Income Taxes Paid
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us-gaap Use Of Estimates
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In preparing the consolidated financial statements, management is required to make estimates and assumptions that affect the reported amounts of assets and liabilities, disclosure of contingent assets and liabilities at the date of the financial statements, and the reported amounts of revenue and expenses for the reporting period. Actual results could differ from those estimates. Material estimates that are particularly susceptible to significant change in the near term are the fair value of financial instruments and the allowance for credit losses
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us-gaap Net Income Loss
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us-gaap Financing Receivable Allowance For Credit Losses Policy For Uncollectible Amounts
FinancingReceivableAllowanceForCreditLossesPolicyForUncollectibleAmounts
<div style="text-align:justify"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Expected credit losses are reflected in the allowance for credit losses through a charge to credit loss expense. When the Company deems all or a portion of a loan to be uncollectible, the appropriate amount is written off and the ACL is reduced by the same amount. The Company applies judgment to determine when a loan is deemed uncollectible; however, generally speaking, a loan will be considered uncollectible no later than when all efforts at collection have been exhausted. Subsequent recoveries, if any, are credited to the ACL when received.</span></div><div style="text-align:justify"><span><br/></span></div><div style="text-align:justify"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The Company measures expected credit losses of loans on a collective (pool) basis when the loans share similar risk characteristics and uses a cash flow based method to estimate expected credit losses for each of these pools. The Company's methodology for estimating the ACL considers available relevant information about the collectability of cash flows, including information about past events, current conditions, and reasonable and supportable forecasts. The methodologies apply historical loss information, adjusted for asset-specific characteristics, economic conditions at the measurement date, and forecasts about future economic conditions expected to exist through the contractual lives of the financial assets that are reasonable and supportable, to the identified pools of financial assets with similar risk characteristics for which the historical experience was observed. </span></div>The Company uses the cash flow based model to estimate expected credit losses for all loan segments. For each of the loan segments, the Company calculates a cash flow projection using contractual terms, estimated prepayment speeds, estimated curtailment rates, and other relevant data. The Company uses regression analysis that links historical losses of the Company and its peer group to two economic metrics: national unemployment rate and 10-year treasury rate over 2-year treasury rate spread to establish the loss rates applied to the projected cash flows. For all loan segments, the Company uses a forecast period of four quarters and reverts to a historical rate after four quarters. When estimating prepayment speed and curtailment rates, the modeling is based on historical internal data.
CY2023Q3 us-gaap Financing Receivable Excluding Accrued Interest Nonaccrual
FinancingReceivableExcludingAccruedInterestNonaccrual
303000 usd
CY2022Q4 us-gaap Financing Receivable Excluding Accrued Interest Nonaccrual
FinancingReceivableExcludingAccruedInterestNonaccrual
322000 usd
CY2023Q3 us-gaap Financing Receivable Excluding Accrued Interest Nonaccrual No Allowance
FinancingReceivableExcludingAccruedInterestNonaccrualNoAllowance
303000 usd
CY2022Q4 us-gaap Financing Receivable Excluding Accrued Interest Nonaccrual No Allowance
FinancingReceivableExcludingAccruedInterestNonaccrualNoAllowance
322000 usd
CY2023Q3 us-gaap Financing Receivable Excluding Accrued Interest90 Days Or More Past Due Still Accruing
FinancingReceivableExcludingAccruedInterest90DaysOrMorePastDueStillAccruing
0 usd
CY2022Q4 us-gaap Financing Receivable Excluding Accrued Interest90 Days Or More Past Due Still Accruing
FinancingReceivableExcludingAccruedInterest90DaysOrMorePastDueStillAccruing
0 usd
us-gaap Financing Receivable Nonaccrual Interest Income
FinancingReceivableNonaccrualInterestIncome
0 usd
us-gaap Financing Receivable Nonaccrual Interest Income
FinancingReceivableNonaccrualInterestIncome
0 usd
CY2023Q3 us-gaap Financing Receivable Excluding Accrued Interest Before Allowance For Credit Loss
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CY2022Q4 us-gaap Financing Receivable Excluding Accrued Interest Before Allowance For Credit Loss
FinancingReceivableExcludingAccruedInterestBeforeAllowanceForCreditLoss
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CY2022Q4 us-gaap Financing Receivable Modifications Recorded Investment
FinancingReceivableModificationsRecordedInvestment
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CY2023Q3 us-gaap Financing Receivable Modifications Recorded Investment
FinancingReceivableModificationsRecordedInvestment
0 usd
CY2022Q3 us-gaap Financing Receivable Modifications Subsequent Default Number Of Contracts1
FinancingReceivableModificationsSubsequentDefaultNumberOfContracts1
0 loans
us-gaap Financing Receivable Modifications Subsequent Default Number Of Contracts1
FinancingReceivableModificationsSubsequentDefaultNumberOfContracts1
0 loans
us-gaap Financing Receivable Modifications Subsequent Default Number Of Contracts1
FinancingReceivableModificationsSubsequentDefaultNumberOfContracts1
0 loans
CY2023Q3 us-gaap Financing Receivable Modifications Subsequent Default Number Of Contracts1
FinancingReceivableModificationsSubsequentDefaultNumberOfContracts1
0 loans
CY2023Q3 us-gaap Deferred Tax Assets Tax Deferred Expense Reserves And Accruals Provision For Loan Losses
DeferredTaxAssetsTaxDeferredExpenseReservesAndAccrualsProvisionForLoanLosses
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CY2022Q4 us-gaap Deferred Tax Assets Tax Deferred Expense Reserves And Accruals Provision For Loan Losses
DeferredTaxAssetsTaxDeferredExpenseReservesAndAccrualsProvisionForLoanLosses
6241000 usd
CY2023Q3 us-gaap Deferred Tax Assets Unrealized Losses On Availablefor Sale Securities Gross
DeferredTaxAssetsUnrealizedLossesOnAvailableforSaleSecuritiesGross
39665000 usd
CY2022Q4 us-gaap Deferred Tax Assets Unrealized Losses On Availablefor Sale Securities Gross
DeferredTaxAssetsUnrealizedLossesOnAvailableforSaleSecuritiesGross
34544000 usd
CY2023Q3 wtba Deferredtaxassetsleaseliabilities
Deferredtaxassetsleaseliabilities
912000 usd
CY2022Q4 wtba Deferredtaxassetsleaseliabilities
Deferredtaxassetsleaseliabilities
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CY2023Q3 us-gaap Deferred Tax Assets Tax Deferred Expense Reserves And Accruals Accrued Liabilities
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202000 usd
CY2022Q4 us-gaap Deferred Tax Assets Tax Deferred Expense Reserves And Accruals Accrued Liabilities
DeferredTaxAssetsTaxDeferredExpenseReservesAndAccrualsAccruedLiabilities
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CY2023Q3 us-gaap Deferred Tax Assets Tax Deferred Expense Compensation And Benefits Share Based Compensation Cost
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1006000 usd
CY2022Q4 us-gaap Deferred Tax Assets Tax Deferred Expense Compensation And Benefits Share Based Compensation Cost
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CY2023Q3 us-gaap Deferred Tax Assets Operating Loss Carryforwards State And Local
DeferredTaxAssetsOperatingLossCarryforwardsStateAndLocal
1686000 usd
CY2022Q4 us-gaap Deferred Tax Assets Operating Loss Carryforwards State And Local
DeferredTaxAssetsOperatingLossCarryforwardsStateAndLocal
1476000 usd
CY2023Q3 us-gaap Deferred Tax Assets Other
DeferredTaxAssetsOther
174000 usd
CY2022Q4 us-gaap Deferred Tax Assets Other
DeferredTaxAssetsOther
156000 usd
CY2023Q3 us-gaap Deferred Tax Assets Gross
DeferredTaxAssetsGross
51116000 usd
CY2022Q4 us-gaap Deferred Tax Assets Gross
DeferredTaxAssetsGross
45036000 usd
CY2023Q3 us-gaap Deferred Tax Liabilities Leasing Arrangements
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868000 usd
CY2022Q4 us-gaap Deferred Tax Liabilities Leasing Arrangements
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CY2023Q3 us-gaap Deferred Tax Liabilities Deferred Expense Deferred Financing Costs
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257000 usd
CY2022Q4 us-gaap Deferred Tax Liabilities Deferred Expense Deferred Financing Costs
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249000 usd
CY2023Q3 us-gaap Deferred Tax Liabilities Derivatives
DeferredTaxLiabilitiesDerivatives
5097000 usd
CY2022Q4 us-gaap Deferred Tax Liabilities Derivatives
DeferredTaxLiabilitiesDerivatives
4003000 usd
CY2023Q3 us-gaap Deferred Tax Liabilities Property Plant And Equipment
DeferredTaxLiabilitiesPropertyPlantAndEquipment
1124000 usd
CY2022Q4 us-gaap Deferred Tax Liabilities Property Plant And Equipment
DeferredTaxLiabilitiesPropertyPlantAndEquipment
1219000 usd
CY2023Q3 wtba Deferred Tax Liabilities New Markets Tax Credit Loan
DeferredTaxLiabilitiesNewMarketsTaxCreditLoan
366000 usd
CY2022Q4 wtba Deferred Tax Liabilities New Markets Tax Credit Loan
DeferredTaxLiabilitiesNewMarketsTaxCreditLoan
303000 usd
CY2023Q3 us-gaap Deferred Tax Liabilities Other
DeferredTaxLiabilitiesOther
126000 usd
CY2022Q4 us-gaap Deferred Tax Liabilities Other
DeferredTaxLiabilitiesOther
78000 usd
CY2023Q3 us-gaap Deferred Income Tax Liabilities
DeferredIncomeTaxLiabilities
7838000 usd
CY2022Q4 us-gaap Deferred Income Tax Liabilities
DeferredIncomeTaxLiabilities
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CY2023Q3 wtba Deferred Tax Assets Net Before Valuation Allowance
DeferredTaxAssetsNetBeforeValuationAllowance
43278000 usd
CY2022Q4 wtba Deferred Tax Assets Net Before Valuation Allowance
DeferredTaxAssetsNetBeforeValuationAllowance
38085000 usd
CY2023Q3 us-gaap Deferred Tax Assets Valuation Allowance
DeferredTaxAssetsValuationAllowance
1686000 usd
CY2022Q4 us-gaap Deferred Tax Assets Valuation Allowance
DeferredTaxAssetsValuationAllowance
1476000 usd
CY2023Q3 us-gaap Deferred Tax Assets Liabilities Net
DeferredTaxAssetsLiabilitiesNet
41592000 usd
CY2022Q4 us-gaap Deferred Tax Assets Liabilities Net
DeferredTaxAssetsLiabilitiesNet
36609000 usd
CY2023Q3 us-gaap Unused Commitments To Extend Credit
UnusedCommitmentsToExtendCredit
1133928000 usd
CY2022Q4 us-gaap Unused Commitments To Extend Credit
UnusedCommitmentsToExtendCredit
1085123000 usd
CY2023Q3 wtba Fhlbmpf Program Remaining Outstanding Balanceof Loans Sold
FHLBMPFProgramRemainingOutstandingBalanceofLoansSold
20854000 usd
CY2022Q4 wtba Fhlbmpf Program Remaining Outstanding Balanceof Loans Sold
FHLBMPFProgramRemainingOutstandingBalanceofLoansSold
23337000 usd
wtba Transfers Between Levels Fair Value Disclosure
TransfersBetweenLevelsFairValueDisclosure
0 usd
ecd Rule10b51 Arr Adopted Flag
Rule10b51ArrAdoptedFlag
false
ecd Rule10b51 Arr Trmntd Flag
Rule10b51ArrTrmntdFlag
false
ecd Non Rule10b51 Arr Trmntd Flag
NonRule10b51ArrTrmntdFlag
false
ecd Non Rule10b51 Arr Adopted Flag
NonRule10b51ArrAdoptedFlag
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