West Bank, a subsidiary of West Bancorporation, Inc. (Nasdaq: WTBA), has once again earned the prestigious distinction of being named one of the top-performing community banks in the United States. The highly regarded industry analyst firm, Raymond James, has included West Bank on its exclusive list, reaffirming West Bank's position as one of the leading community banks in Iowa and Minnesota.
Securing the impressive 13th position on the 2022 Raymond James Community Bankers Cup list, West Bank has emerged as one of the 22 national winners among publicly traded community banks with assets ranging from $500 million to $10 billion. This notable achievement highlights the bank's unwavering dedication to excellence and solidifies its unique standing as the only bank from Iowa or Minnesota to be featured on the list.
West Bank's consistent financial success is evident in the fact that it has earned this esteemed award in 9 out of the last 10 years, affirming its commitment to delivering outstanding results year after year.
Dave Nelson, West Bank CEO, said, "We are honored to receive this prestigious recognition from Raymond James, solidifying our position as one of the nation's best-performing banks. It demonstrates our commitment to upholding our mission and our dedication to sound business practices that drive exceptional financial performance.”
The selection of top performing publicly traded community banks was based on comprehensive financial metrics including net interest margin, efficiency ratio, return on average assets, return on average tangible common equity, five-year average core deposit percentage, and nonperforming assets to loans and real estate owned.