West Bancorporation, based in West Des Moines, Iowa, has been a cornerstone of community banking since 1893. It caters to individuals and small to medium-sized businesses, offering a wide range of financial services. These include various deposit accounts, commercial and consumer loans, and sophisticated online and mobile banking solutions. Additionally, it provides treasury management, merchant credit card processing, and trust services, ensuring a comprehensive banking experience for its customers.
Heritage Financial leads today's dividend payments, sending about $10.2 million in cash to shareholders at 25 cents a share on August 19. Smaller community banks fill out the rest of the list, from Univest to Princeton Bancorp.
The bank's net income jumped 38.8% year-over-year as deposit costs fell 46 basis points, widening the net interest margin to 2.69%, while dividend hikes to record levels signal confidence in pristine credit quality.