West Bancorporation, Inc. Financial Ratios — WTBA Stock

Profitability (USD)

	2011 Y	2012 Y	2013 Y	2014 Y	2015 Y	2016 Y	2017 Y	2018 Y	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y	2024 Y	2025 Y
As of date	12/31/2011	12/31/2012	12/31/2013	12/31/2014	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025

Return on Common Equity (%)	17.39	17.04	16.27	17.45	17.14	16.58	15.3	17.32	15.92	16.58	22.17	18.15	8.86	8.65	11.25
Return on Assets (%)	1.19	1.18	1.17	1.31	1.29	1.28	1.16	1.29	1.2	1.16	1.48	1.3	0.65	0.61	0.8
Return on Capital (%)	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Return on Invested Capital (%)	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Gross Margin (%)	100	100	100	100	100	100	100	100	100	100	100	100	100	100	100
EBITDA Margin (%)	7.47	9.67	10.52	8.01	7.83	8.31	8.01	9.1	6.78	3.69	3.47	4.38	6.51	8.75	8.03
Operating Margin (%)	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Incremental Operating Margin (%)	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Pretax Margin (%)	42.45	44.06	45.33	46.29	51.17	51.29	53.04	50.23	47.82	44.99	60.38	58.26	37.66	34.68	43.84
Profit Margin (%)	30.37	30.98	31.62	34.75	35.39	35.83	33.58	40.84	38.38	35.57	47.61	45.51	30.52	30.39	34.46
Net Income to Common Margin (%)	28.59	30.98	31.62	34.75	35.39	35.83	33.58	40.84	38.38	35.57	47.61	45.51	30.52	30.39	34.46
Effective Tax Rate (%)	28.45	29.7	30.23	24.91	30.84	30.15	36.69	18.71	19.73	20.95	21.14	21.88	18.97	12.36	21.39
Dvd Payout Ratio (%)	22.15	39.13	41.41	39.13	45.77	46.92	49.84	44.53	47.33	42.23	31.33	35.82	69.2	69.88	51.95
Sustainable Growth Rate (%)	13.54	10.37	9.53	10.62	9.29	8.8	7.68	9.61	8.38	9.58	15.22	11.65	2.73	2.61	5.41

Credit (USD)

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	2011 Y	2012 Y	2013 Y	2014 Y	2015 Y	2016 Y	2017 Y	2018 Y	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y	2024 Y	2025 Y
As of date	12/31/2011	12/31/2012	12/31/2013	12/31/2014	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025

Total Debt	126	115	132	196	146	125	143	212	223	217	197	286	442	393	376
ST Debt	- -	- -	- -	66	19	- -	23	27	- -	- -	- -	- -	- -	- -	- -
LT Debt	126	115	132	130	127	125	120	185	223	217	197	286	442	393	376
Total Debt/EBITDA	33.46	22.9	23.49	42.46	30.37	23.5	25.92	33.43	43.94	64	54.49	64.05	85.91	56.71	49.59
Net Debt/EBITDA	23.93	10.82	16.17	36.42	18.46	15.83	19.57	26.13	36.48	41.08	1.15	58.1	73.22	21.54	3.52
Total Debt/EBIT	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Net Debt/EBIT	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
EBITDA to Interest Expense	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
EBITDA-CapEx/Interest Expense	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
EBIT to Interest Expense	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Interest Expense	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Common Equity/Total Assets	7.02	6.83	7.54	7.49	7.59	7.82	7.4	7.52	7.59	6.49	6.88	7.49	7.17	7.01	7.18
Long-Term Debt/Equity (%)	101.76	85.08	106.73	92.87	83.46	75.83	67.22	97.03	105.15	97.01	75.67	135.4	196.57	172.3	141.51
Long-Term Debt/Capital (%)	58.5	53.67	54.82	41.05	45.6	46.39	40.02	48.13	54.25	51.21	45	51.37	61.72	58.23	55.87
Long-Term Debt/Total Assets (%)	9.89	7.91	9.15	8.06	7.27	6.76	5.66	8.07	9	6.81	5.63	7.91	11.56	9.78	9.09
Total Debt/Equity (%)	101.76	85.08	106.73	139.96	95.93	75.83	80.08	111.18	105.15	97.01	75.67	135.4	196.57	172.3	141.51
Total Debt/Capital (%)	58.5	53.67	54.82	61.86	52.41	46.39	47.68	55.15	54.25	51.21	45	51.37	61.72	58.23	55.87
Total Debt/Total Assets (%)	9.89	7.91	9.15	12.14	8.36	6.76	6.75	9.25	9	6.81	5.63	7.91	11.56	9.78	9.09
Net Debt to Equity	72.78	40.19	73.46	120.03	58.31	51.08	60.46	86.91	87.3	62.28	1.6	122.83	167.53	65.45	10.05
Net Debt/Capital (%)	50.21	35.37	45.51	58.18	40.1	36.82	40.76	49.01	49.61	40.26	1.7	48.94	57.88	34.62	8.25
EBITDA	4	5	6	5	5	5	6	6	5	3	4	4	5	7	8
EBITDA-CapEx	3	4	3	-1	2	-7	4	6	4	1	-5	-17	-31	-19	4
Operating Income (Loss)	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -

Liquidity (USD)

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	2011 Y	2012 Y	2013 Y	2014 Y	2015 Y	2016 Y	2017 Y	2018 Y	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y	2024 Y	2025 Y
As of date	12/31/2011	12/31/2012	12/31/2013	12/31/2014	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025

Cash Ratio	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Current Ratio	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Quick Ratio	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
CFO/Avg Current Liab	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Common Equity/Total Assets	7.02	6.83	7.54	7.49	7.59	7.82	7.4	7.52	7.59	6.49	6.88	7.49	7.17	7.01	7.18
Long-Term Debt/Equity (%)	101.76	85.08	106.73	92.87	83.46	75.83	67.22	97.03	105.15	97.01	75.67	135.4	196.57	172.3	141.51
Long-Term Debt/Capital (%)	58.5	53.67	54.82	41.05	45.6	46.39	40.02	48.13	54.25	51.21	45	51.37	61.72	58.23	55.87
Long-Term Debt/Total Assets (%)	9.89	7.91	9.15	8.06	7.27	6.76	5.66	8.07	9	6.81	5.63	7.91	11.56	9.78	9.09
Total Debt/Equity (%)	101.76	85.08	106.73	139.96	95.93	75.83	80.08	111.18	105.15	97.01	75.67	135.4	196.57	172.3	141.51
Total Debt/Capital (%)	58.5	53.67	54.82	61.86	52.41	46.39	47.68	55.15	54.25	51.21	45	51.37	61.72	58.23	55.87
Total Debt/Total Assets (%)	9.89	7.91	9.15	12.14	8.36	6.76	6.75	9.25	9	6.81	5.63	7.91	11.56	9.78	9.09
CFO/Total Liabilities	2.27	1.85	1.77	1.78	1.95	1.79	1.52	1.65	1.63	1.43	1.79	1.75	0.7	1.05	1.2
CFO/CapEx	26.53	23.47	10.64	4.96	12.47	2.37	27.83	165.45	35.27	18.23	6.62	2.79	0.69	1.52	13.97
Altman's Z-Score	0.22	0.21	0.26	0.25	0.26	0.28	0.26	0.22	0.25	0.18	0.22	0.21	0.18	0.17	0.18

Working Capital (USD)

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	2011 Y	2012 Y	2013 Y	2014 Y	2015 Y	2016 Y	2017 Y	2018 Y	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y	2024 Y	2025 Y
As of date	12/31/2011	12/31/2012	12/31/2013	12/31/2014	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025

Accounts Receivable Turnover	11	13.19	13.95	13.68	13.48	12.84	10.85	9.32	10.13	10.02	10.36	9.77	6.19	5.99	7.62
Days Sales Outstanding	33.19	27.66	26.17	26.69	27.07	28.43	33.64	39.15	36.05	36.44	35.24	37.37	59	60.9	47.92
Inventory Turnover	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Days Inventory Outstanding	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Accounts Payable Turnover	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Accounts Payable Turnover Days	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Cash Conversion Cycle	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Inventory to Cash Days	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Inventories	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Raw Materials	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Work In Process	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Finished Goods	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Other Inventory	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -

Enterprise Value (USD)

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	2011 Y	2012 Y	2013 Y	2014 Y	2015 Y	2016 Y	2017 Y	2018 Y	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y	2024 Y	2025 Y
As of date	12/31/2011	12/31/2012	12/31/2013	12/31/2014	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025

Market Capitalization	167	188	262	271	316	400	406	311	420	318	514	425	355	364	376
- Cash & Cash Equivalents	36	60	41	28	57	41	35	46	38	78	193	27	65	243	350
+ Preferred Equity and Hybrid Capital	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Minority/Non Controlling Interest	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Total Debt	126	115	132	196	146	125	143	212	223	217	197	286	442	393	376
Enterprise Value	-27	-51	8	166	84	224	69	23	206	37	-241	20	108	-31	113
Total Capital	215	213	241	317	279	270	299	385	411	424	438	556	717	674	674
Total Debt/Capital (%)	58.5	53.67	54.82	61.86	52.41	46.39	47.68	55.15	54.25	51.21	45	51.37	61.72	58.23	55.87
Total Debt / EV	-4.73	-2.26	17.41	1.18	1.74	0.56	2.06	9.1	1.08	5.93	-0.82	14.21	4.08	-12.54	3.32
EV/Sales	- -	- -	0.14	2.88	1.36	3.49	1.01	0.33	2.76	0.4	- -	0.2	1.37	- -	1.2
EV/EBITDA	- -	- -	1.35	35.96	17.43	42.01	12.58	3.67	40.67	10.79	- -	4.51	21.06	- -	14.91
EV/EBIT	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
EV/Cash Flow to Firm	- -	- -	0.32	6.32	2.69	7.4	2.36	0.67	5.58	0.87	- -	0.34	4.29	- -	2.44
EV/Free Cash Flow to Firm	- -	- -	0.3	5.26	2.49	5.2	2.28	0.67	5.42	0.82	- -	0.25	1.76	- -	2.27
Diluted Market Cap	167	188	262	273	316	400	411	311	423	319	521	430	355	367	376
Diluted Enterprise Value	257	242	353	441	405	485	519	477	608	458	525	689	732	516	403
EV per Share	- -	- -	0.46	10.45	5.25	13.83	4.29	1.43	12.59	2.22	- -	1.21	6.47	- -	6.68
TTM Sales	50	52	53	58	61	64	69	70	75	92	104	102	79	79	94
TTM EBITDA	4	5	6	5	5	5	6	6	5	3	4	4	5	7	8
TTM Operating Income	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
TTM Cash Flow to Firm	26	24	23	26	31	30	29	35	37	42	58	59	25	40	46
TTM Free Cash Flow to Firm	27	25	26	32	34	43	30	35	38	45	67	81	62	66	50

Multiples (USD)

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	2011 Y	2012 Y	2013 Y	2014 Y	2015 Y	2016 Y	2017 Y	2018 Y	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y	2024 Y	2025 Y
As of date	12/31/2011	12/31/2012	12/31/2013	12/31/2014	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025

Price/Free Cash Flow	6.17	7.41	10.24	8.64	9.37	9.29	13.53	8.9	11.12	7.15	7.82	5.32	5.77	5.56	7.56
EV/EBIT	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Enterprise Value	-27	-51	8	166	84	224	69	23	206	37	-241	20	108	-31	113
Low Price	6.75	8.71	10.1	13.53	16	16.04	20.6	18.06	19.02	13.74	18.86	20.39	15.04	15.8	17.31
EV/Sales	- -	- -	0.14	2.88	1.36	3.49	1.01	0.33	2.76	0.4	- -	0.2	1.37	- -	1.2
EV/EBITDA	- -	- -	1.35	35.96	17.43	42.01	12.58	3.67	40.67	10.79	- -	4.51	21.06	- -	14.91
Price/Earnings	11.6	11.72	15.51	13.51	14.52	17.39	17.59	10.91	14.63	9.72	10.36	9.16	14.72	15.14	11.56
Price/Earnings Average	10.07	10.99	12.27	11.98	13.9	13.62	16.42	13.78	12.5	9.35	9.22	9.1	13.02	13.4	10.67
Price/Earnings High	12.58	13.42	16.31	13.53	15.51	17.64	19.58	15.4	14.8	12.93	11.5	11.68	17.92	17.38	12.64
Price/Earnings Low	8.17	9.47	9.9	10.74	11.76	11.3	14.41	10.32	10.86	6.92	6.29	7.31	10.44	11.05	9.02
Price/Book Value	1.87	1.9	2.41	2.24	2.38	2.76	2.59	1.8	2.24	1.54	2.13	1.57	1.3	1.29	1.27
Price/Book Value Average	1.62	1.78	1.91	1.98	2.28	2.16	2.42	2.27	1.91	1.48	1.9	1.56	1.15	1.14	1.17
Price/Book Value High	2.03	2.17	2.53	2.24	2.54	2.8	2.89	2.54	2.26	2.05	2.37	2	1.58	1.48	1.38
Price/Book Value Low	1.32	1.53	1.54	1.78	1.93	1.79	2.12	1.7	1.66	1.09	1.3	1.25	0.92	0.94	0.99
Price/Tangible Book Value	1.35	1.39	2.12	1.93	2.07	2.42	2.28	1.63	1.98	1.42	1.97	2.01	1.58	1.6	1.41
Price/Tangible Book Value Average	1.17	1.31	1.68	1.71	1.98	1.89	2.13	2.06	1.69	1.37	1.76	2	1.4	1.41	1.31
Price/Tangible Book Value High	1.46	1.6	2.23	1.93	2.21	2.46	2.54	2.3	2.01	1.89	2.19	2.57	1.92	1.83	1.55
Price/Tangible Book Value Low	0.95	1.13	1.35	1.54	1.68	1.57	1.87	1.54	1.47	1.01	1.2	1.61	1.12	1.17	1.1
Price/Sales	3.32	3.63	4.9	4.69	5.14	6.23	5.91	4.46	5.62	3.46	4.93	4.17	4.49	4.6	3.98
Price/Sales Average	2.88	3.4	3.88	4.16	4.92	4.88	5.51	5.63	4.8	3.33	4.39	4.14	3.97	4.07	3.68
Price/Sales High	3.6	4.16	5.16	4.7	5.49	6.32	6.57	6.29	5.68	4.6	5.48	5.32	5.47	5.28	4.36
Price/Sales Low	2.34	2.93	3.13	3.73	4.16	4.05	4.84	4.22	4.17	2.46	2.99	3.33	3.19	3.36	3.11
Price/Cash Flow	6.41	7.72	11.2	10.3	10.12	13.21	13.82	8.95	11.36	7.52	8.88	7.15	14.07	9.15	8.1
Price/Cash Flow Average	5.56	7.24	8.86	9.13	9.69	10.34	12.91	11.31	9.7	7.23	7.9	7.1	12.45	8.1	7.48
Price/Cash Flow High	6.95	8.85	11.78	10.32	10.81	13.4	15.39	12.64	11.49	10	9.86	9.12	17.13	10.5	8.86
Price/Cash Flow Low	4.51	6.24	7.15	8.19	8.2	8.58	11.32	8.47	8.43	5.35	5.39	5.7	9.98	6.68	6.32
Price/Free Cash Flow Average	5.36	6.95	8.1	7.66	8.97	7.27	12.64	11.24	9.49	6.88	6.96	5.28	5.1	4.92	6.98
Price/Free Cash Flow High	6.69	8.49	10.77	8.65	10.01	9.42	15.06	12.56	11.25	9.51	8.68	6.79	7.02	6.38	8.26
Price/Free Cash Flow Low	4.35	5.99	6.54	6.87	7.59	6.03	11.08	8.42	8.25	5.09	4.74	4.24	4.09	4.06	5.89
EV/Sales Average	4.67	4.45	5.58	7.08	6.36	6.19	7.08	8	7.27	4.84	4.43	6.68	8.74	5.96	3.96
EV/Sales High	5.38	5.2	6.86	7.62	6.93	7.63	8.14	8.67	8.16	6.11	5.52	7.86	10.23	7.17	4.64
EV/Sales Low	4.12	3.98	4.83	6.65	5.61	5.36	6.4	6.59	6.64	3.98	3.03	5.87	7.95	5.24	3.39
EV/EBITDA Average	62.48	46.01	53.06	88.37	81.24	74.56	88.44	87.96	107.22	131.28	127.69	152.66	134.27	68.11	49.3
EV/EBITDA High	72.1	53.8	65.21	95.11	88.51	91.92	101.67	95.26	120.27	165.81	158.96	179.58	157.21	81.91	57.74
EV/EBITDA Low	55.23	41.13	45.94	83	71.6	64.55	79.97	72.46	97.94	107.82	87.42	134.08	122.18	59.93	42.19
EV/EBIT Average	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
EV/EBIT High	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
EV/EBIT Low	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Last Price	9.58	10.78	15.82	17.02	19.75	24.7	25.15	19.09	25.63	19.3	31.07	25.55	21.2	21.65	22.19
High Price	10.39	12.35	16.64	17.05	21.09	25.05	28	26.95	25.93	25.68	34.5	32.6	25.8	24.85	24.27
Enterprise Value Average	235	230	298	408	391	398	487	559	543	445	462	681	691	472	374
Enterprise Value High	271	269	366	439	426	490	559	605	610	562	575	801	809	567	438
Enterprise Value Low	207	206	258	383	345	344	440	460	496	366	316	598	629	415	320

Shares Outstanding	17	17	16	16	16	16	16	16	16	16	17	17	17	17	17
Diluted Weighted Avg Shares	17	17	17	16	16	16	16	16	16	17	17	17	17	17	17
Basic Weighted Avg Shares	17	17	17	16	16	16	16	16	16	16	17	17	17	17	17
Revenue per Share	2.89	2.97	3.23	3.63	3.84	3.96	4.26	4.28	4.56	5.58	6.3	6.13	4.72	4.71	5.57
EBITDA per Share	0.22	0.29	0.34	0.29	0.3	0.33	0.34	0.39	0.31	0.21	0.22	0.27	0.31	0.41	0.45
Operating Income per Share	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Basic EPS, GAAP	0.83	0.92	1.02	1.26	1.36	1.42	1.43	1.75	1.75	1.99	3	2.79	1.44	1.43	1.92
Basic EPS from Cont Ops	0.88	0.92	1.02	1.26	1.36	1.42	1.43	1.75	1.75	1.99	3	2.79	1.44	1.43	1.92
Diluted EPS, GAAP	0.83	0.92	1.02	1.25	1.36	1.42	1.41	1.75	1.74	1.98	2.96	2.76	1.44	1.42	1.92
Diluted EPS from Cont Ops	0.88	0.92	1.02	1.25	1.36	1.42	1.41	1.75	1.74	1.98	2.96	2.76	1.44	1.42	1.92
Dividend per Share	0.23	0.36	0.42	0.49	0.62	0.67	0.71	0.78	0.83	0.84	0.94	1	1	1	1
Cash Flow per Share	1.5	1.4	1.41	1.65	1.95	1.87	1.82	2.13	2.26	2.57	3.5	3.57	1.51	2.37	2.74
Free Cash Flow per Basic Share	1.44	1.34	1.28	1.32	1.79	1.08	1.75	2.12	2.19	2.43	2.97	2.29	-0.66	0.81	2.54
Cash & Equivalents per Share	18.32	20.27	23.33	18.91	23.65	18.61	29.7	30.69	26.64	30.25	57.55	41.53	41.12	46.86	37.71
Book Value per Share	5.12	5.68	6.57	7.6	8.3	8.94	9.7	10.6	11.47	12.55	14.56	16.27	16.37	16.74	17.53
Tangible Book Value per Share	7.09	7.73	7.47	8.81	9.53	10.2	11.04	11.72	12.93	13.58	15.74	12.69	13.43	13.55	15.68

West Bancorporation, Inc.

Profitability (USD)

Credit (USD)

Liquidity (USD)

Working Capital (USD)

Enterprise Value (USD)

Multiples (USD)

Per Share Data Items (USD)