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West Bancorporation reports record earnings — again

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West Bancorporation Inc., parent company of West Bank, reported second-quarter net income of $5.3 million, or 33 cents per diluted share — the highest it has ever recorded in any second quarter, the company announced today.

For the first six months of 2015, net income was $10.4 million, or 65 cents per diluted common share, up from $9.1 million, or 57 cents, for the first six months of 2014. “Our momentum accelerated in the second quarter,” said Dave Nelson, president and CEO of the West Des Moines-based banking company.

The company has had four consecutive quarters of record earnings and attained a new record high stock price of $20.99 per share on July 15, Nelson noted. Loans were 13 percent higher in the second quarter than a year ago, and deposits were 8 percent higher than a year ago. On July 22, the company’s board of directors declared a regular quarterly dividend of 16 cents per common share, payable on Aug. 19 to stockholders of record on Aug. 5.