West Bank Reports Slight Uptick in First Quarter Profits

The parent company of West Des Moines-based West Bank reported a $3.98 million profit in the first quarter, slightly more than the same period last year, according to the Des Moines Register.

Though the bank’s loan portfolio grew by $10 million in the first quarter, and by $18.5 million year-over-year, the bank’s net interest income fell by $299,000 in the quarter thanks to low interest rates, the newspaper reported.

West Bancorporation, Inc. is headquartered in West Des Moines, Iowa. , which has been around since 1893, is the seventh-largest community bank in Iowa by assets, with $1.3 billion by March 31, the Register said.

By deposits, it is the 10th-largest bank in Iowa, when national and regional banks are taken into account. The bank has eight branches in the Des Moines metro, two in Iowa City, and one in Coralville, according to the paper.