WTBANasdaqState Commercial BanksFiscal year ends December 31
WEST BANCORPORATION INC
Financials through Q2 FY2026, quarter ended Jun 30, 2026Last filing: 10-Q on Jul 23, 2026
$28.97−0.22 (-0.75%)
Close on Oct 19, 2026
- Market cap
- $498.31M
- P/E (TTM)
- 12.9
- Dividend yield
- 3.45%
Ownership
Institutional holdings as of Jun 30, 2026, from 13F filings
Held by institutions
50.2%
9M of 17M shares
Institutional holders
114
17 new, 11 sold out
Net institutional buying
0M
In Q2 2026
Insider trades, 12 months
0 buys · 3 sales
Net sold $517.10K
Shares held by institutions
Holders of more than 5%
Latest Schedule 13D (active) or 13G (passive) filed by each holder
| Holder | Shares | % of class | Filing | As of |
|---|---|---|---|---|
| FMR LLC | 1,384,091 | 8.28% | 13G (passive) amendment | Feb 9, 2024 |
| BlackRock, Inc. | 1,226,891 | 7.30% | 13G (passive) amendment | Dec 31, 2023 |
Top institutional holders
13F holdings as of Jun 30, 2026
| Holder | Shares | % of WTBA | Value | Change | % of portfolio |
|---|---|---|---|---|---|
| FMR LLC | 1,443,577 | 8.47% | $38.30M | +6 | 0.00% |
| BlackRock, Inc. | 1,344,061 | 7.89% | $35.66M | +167,061 | 0.00% |
| Dimensional Fund Advisors LP | 648,581 | 3.81% | $17.21M | −3,343 | 0.00% |
| Vanguard Capital Management LLC | 647,004 | 3.80% | $17.17M | −54,068 | 0.00% |
| West Bancorporation Inc | 415,411 | 2.44% | $11.02M | −2,750 | 4.71% |
| Aptus Capital Advisors, LLC | 411,047 | 2.41% | $10.91M | +2,479 | 0.07% |
| Geode Capital Management, LLC | 395,349 | 2.32% | $10.49M | +30,842 | 0.00% |
| American Century Companies Inc | 377,827 | 2.22% | $10.02M | +111,170 | 0.00% |
| State Street Corp | 344,730 | 2.02% | $9.15M | +2,564 | 0.00% |
| Legacy Bridge, LLC | 225,579 | 1.32% | $5.98M | −20,222 | 1.85% |
| Morgan Stanley | 181,385 | 1.06% | $4.81M | +10,025 | 0.00% |
| Renaissance Technologies LLC | 171,752 | 1.01% | $4.56M | −10,700 | 0.01% |
| Two Sigma Investments, LP | 135,265 | 0.79% | $3.59M | +49,286 | 0.00% |
| Northern Trust Corp | 128,438 | 0.75% | $3.41M | +8,886 | 0.00% |
| Citadel Advisors LLC | 108,223 | 0.63% | $2.87M | +37,853 | 0.00% |
| Vanguard Portfolio Management LLC | 104,865 | 0.62% | $2.78M | +17,261 | 0.00% |
| Vanguard Fiduciary Trust Co | 102,011 | 0.60% | $2.71M | +5,516 | 0.00% |
| Bank of New York Mellon Corp | 92,501 | 0.54% | $2.45M | +2,524 | 0.00% |
| Qube Research & Technologies Ltd | 71,163 | 0.42% | $1.89M | New | 0.00% |
| Goldman Sachs Group Inc | 70,379 | 0.41% | $1.87M | +10,452 | 0.00% |
Institutional buying and selling by quarter
Positions opened, added to, reduced and closed by 13F filers
| Quarter | Holders | Shares held | % of shares | New / added | Reduced / closed | Shares bought | Shares sold |
|---|---|---|---|---|---|---|---|
| Q2 2026 | 114 | 9M | 50.2% | 17 / 46 | 25 / 11 | 1M | 0M |
| Q1 2026 | 110 | 8M | 48.0% | 12 / 31 | 43 / 5 | 1M | 0M |
| Q4 2025 | 104 | 8M | 47.5% | 14 / 38 | 28 / 7 | 1M | 0M |
| Q3 2025 | 98 | 8M | 45.6% | 11 / 33 | 34 / 7 | 0M | 0M |
| Q2 2025 | 94 | 8M | 46.0% | 13 / 29 | 33 / 7 | 0M | 0M |
| Q1 2025 | 88 | 8M | 46.0% | 11 / 25 | 33 / 5 | 0M | 0M |
| Q4 2024 | 86 | 8M | 45.3% | 13 / 34 | 20 / 6 | 0M | 0M |
| Q3 2024 | 79 | 8M | 44.9% | 11 / 32 | 17 / 7 | 2M | 0M |
| Q2 2024 | 77 | 8M | 44.4% | 10 / 29 | 22 / 7 | 0M | 0M |
| Q1 2024 | 75 | 8M | 45.6% | 8 / 26 | 22 / 6 | 0M | 0M |
| Q4 2023 | 73 | 8M | 44.5% | 6 / 29 | 19 / 2 | 0M | 0M |
| Q3 2023 | 69 | 7M | 42.5% | 5 / 19 | 33 / 2 | 0M | 0M |
Top mutual fund and ETF holders
Latest monthly portfolio reports (Form N-PORT)
| Fund | Shares | % of WTBA | Value | % of fund | As of |
|---|---|---|---|---|---|
| Fidelity Low-Priced Stock Fund | 596,920 | 3.50% | $16.74M | 0.07% | Jul 31, 2026 |
| Vanguard Total Stock Market Index Fund | 459,454 | 2.70% | $12.19M | 0.00% | Jun 30, 2026 |
| iShares Russell 2000 ETF | 437,354 | 2.57% | $11.60M | 0.01% | Jun 30, 2026 |
| Opus Small Cap Value ETF | 434,551 | 2.55% | $12.19M | 1.73% | Jul 31, 2026 |
| Avantis U.S. Small Cap Value ETF | 295,024 | 1.73% | $7.06M | 0.03% | May 31, 2026 |
| Vanguard Extended Market Index Fund | 173,873 | 1.02% | $4.61M | 0.00% | Jun 30, 2026 |
| Fidelity Small Cap Index Fund | 172,955 | 1.01% | $4.85M | 0.01% | Jul 31, 2026 |
| Fidelity Series Intrinsic Opportunities Fund | 164,600 | 0.97% | $4.62M | 0.16% | Jul 31, 2026 |
| iShares Russell 2000 Value ETF | 139,448 | 0.82% | $3.70M | 0.03% | Jun 30, 2026 |
| Strategic Advisers Fidelity U.S. Total Stock Fund | 128,100 | 0.75% | $3.07M | 0.00% | May 31, 2026 |
| U.S. Targeted Value Portfolio | 113,362 | 0.67% | $3.18M | 0.02% | Jul 31, 2026 |
| Fidelity Low-Priced Stock K6 Fund | 109,290 | 0.64% | $3.07M | 0.07% | Jul 31, 2026 |
| Dimensional U.S. Targeted Value ETF | 93,612 | 0.55% | $2.63M | 0.02% | Jul 31, 2026 |
| U.S. Micro Cap Portfolio | 83,604 | 0.49% | $2.35M | 0.03% | Jul 31, 2026 |
| Vanguard Russell 2000 Index Fund | 77,876 | 0.46% | $1.86M | 0.01% | May 31, 2026 |
Officers, directors and major owners
People who filed Forms 3, 4 or 5 in the last two years
| Name | Role | Shares owned | % of shares | Latest filing |
|---|---|---|---|---|
| David D. Nelson | CEO & PRESIDENT, Director | 256,492 | 1.50% | Mar 26, 2026 |
| Harlee Olafson | CHIEF RISK OFFICER | 156,798 | 0.92% | Mar 26, 2026 |
| Brad L. Winterbottom | EXECUTIVE VICE PRESIDENT | 181,254 | 1.06% | Mar 26, 2026 |
| Jane M. Funk | CFO | 71,737 | 0.42% | Mar 26, 2026 |
| Bradley P. Peters | Executive Vice President | 86,524 | 0.51% | Mar 26, 2026 |
| John Kevin Sorensen | Director | 3,168 | 0.02% | Apr 24, 2026 |
| Douglas R. Gulling | Director | 101,042 | 0.59% | Apr 24, 2026 |
| Steven K. Gaer | Director | 25,451 | 0.15% | Apr 24, 2026 |
| Sean Patrick McMurray | Director | 48,560 | 0.28% | Apr 24, 2026 |
| Rosemary Parson | Director | 8,148 | 0.05% | Apr 24, 2026 |
| Therese M. Vaughan | Director | 14,581 | 0.09% | Apr 24, 2026 |
| Lisa J. Elming | Director | 9,048 | 0.05% | Apr 24, 2026 |
| James Noyce | Director | 23,821 | 0.14% | Feb 18, 2026 |
| George D. Milligan | Director | 53,195 | 0.31% | Nov 25, 2025 |
Insider trades
Common stock transactions reported on Form 4, newest first
| Insider | Date | Transaction | Shares | Price | Value | Shares after |
|---|---|---|---|---|---|---|
| Sean Patrick McMurray Director | Apr 23, 2026 | Award | +1,430 | – | – | 48,560 |
| Rosemary Parson Director | Apr 23, 2026 | Award | +1,430 | – | – | 8,148 |
| Douglas R. Gulling Director | Apr 23, 2026 | Award | +1,430 | – | – | 73,768 |
| Steven K. Gaer Director | Apr 23, 2026 | Award | +1,430 | – | – | 25,451 |
| John Kevin Sorensen Director | Apr 23, 2026 | Award | +1,430 | – | – | 3,168 |
| Therese M. Vaughan Director | Apr 23, 2026 | Award | +1,430 | – | – | 14,581 |
| Lisa J. Elming Director | Apr 23, 2026 | Award | +1,430 | – | – | 9,048 |
| Bradley P. Peters Executive Vice President | Mar 25, 2026 | Tax withholding | −6,111 | $23.71 | $144.89K | 86,524 |
| Harlee Olafson CHIEF RISK OFFICER | Mar 25, 2026 | Tax withholding | −6,334 | $23.71 | $150.18K | 135,948 |
| Brad L. Winterbottom EXECUTIVE VICE PRESIDENT | Mar 25, 2026 | Tax withholding | −6,162 | $23.71 | $146.10K | 148,589 |
| David D. Nelson CEO & PRESIDENT, Director | Mar 25, 2026 | Tax withholding | −6,811 | $23.71 | $161.49K | 117,340 |
| Jane M. Funk CFO | Mar 25, 2026 | Tax withholding | −6,033 | $23.71 | $143.04K | 71,517 |
| Harlee Olafson CHIEF RISK OFFICER | Feb 23, 2026 | Award | +15,000 | – | – | 143,001 |
| David D. Nelson CEO & PRESIDENT, Director | Feb 23, 2026 | Award | +17,000 | – | – | 124,966 |
| Brad L. Winterbottom EXECUTIVE VICE PRESIDENT | Feb 23, 2026 | Award | +15,000 | – | – | 155,470 |
| Bradley P. Peters Executive Vice President | Feb 23, 2026 | Award | +15,000 | – | – | 93,354 |
| Jane M. Funk CFO | Feb 23, 2026 | Award | +15,000 | – | – | 78,269 |
| James Noyce Director | Feb 17, 2026 | Gift | −1,000 | – | – | 1,800 |
| George D. Milligan Director | Nov 24, 2025 | Sale | −10,000 | $21.71 | $217.10K | 53,195 |
| George D. Milligan Director | Nov 21, 2025 | Sale | −5,826 | $22.00 | $128.17K | 63,195 |
| Douglas R. Gulling Director | Nov 11, 2025 | Sale | −7,900 | $21.75 | $171.83K | 72,338 |
| David D. Nelson CEO & PRESIDENT, Director | May 6, 2025 | Gift | −9,423 | – | – | 108,291 |
| David D. Nelson CEO & PRESIDENT, Director | May 6, 2025 | Gift | +9,423 | – | – | 107,457 |
| Lisa J. Elming Director | Apr 24, 2025 | Award | +1,738 | – | – | 7,618 |
| Therese M. Vaughan Director | Apr 24, 2025 | Award | +1,738 | – | – | 13,151 |
| Sean Patrick McMurray Director | Apr 24, 2025 | Award | +1,738 | – | – | 47,130 |
| Steven K. Gaer Director | Apr 24, 2025 | Award | +1,738 | – | – | 24,021 |
| Douglas R. Gulling Director | Apr 24, 2025 | Award | +1,738 | – | – | 80,238 |
| Rosemary Parson Director | Apr 24, 2025 | Award | +1,738 | – | – | 6,718 |
| George D. Milligan Director | Apr 24, 2025 | Award | +1,738 | – | – | 69,021 |
| James Noyce Director | Apr 24, 2025 | Award | +1,738 | – | – | 22,021 |
| Bradley P. Peters Executive Vice President | Mar 25, 2025 | Tax withholding | −5,629 | $20.02 | $112.69K | 78,614 |
| Harlee Olafson CHIEF RISK OFFICER | Mar 25, 2025 | Tax withholding | −7,335 | $20.02 | $146.85K | 128,326 |
| Jane M. Funk CFO | Mar 25, 2025 | Tax withholding | −5,238 | $20.02 | $104.86K | 63,529 |
| Brad L. Winterbottom EXECUTIVE VICE PRESIDENT | Mar 25, 2025 | Tax withholding | −6,980 | $20.02 | $139.74K | 140,795 |
| David D. Nelson CEO & PRESIDENT, Director | Mar 25, 2025 | Tax withholding | −7,152 | $20.02 | $143.18K | 117,714 |
| David D. Nelson CEO & PRESIDENT, Director | Feb 19, 2025 | Buy | +639 | $22.27 | $14.23K | 124,866 |
| Brad L. Winterbottom EXECUTIVE VICE PRESIDENT | Feb 17, 2025 | Award | +15,000 | – | – | 147,775 |
| Harlee Olafson CHIEF RISK OFFICER | Feb 17, 2025 | Award | +15,000 | – | – | 135,661 |
| Jane M. Funk CFO | Feb 17, 2025 | Award | +15,000 | – | – | 68,767 |
| David D. Nelson CEO & PRESIDENT, Director | Feb 17, 2025 | Award | +17,000 | – | – | 124,227 |
| Bradley P. Peters Executive Vice President | Feb 17, 2025 | Award | +15,000 | – | – | 84,243 |
| David D. Nelson CEO & PRESIDENT, Director | Nov 20, 2024 | Buy | +592 | $23.79 | $14.08K | 107,227 |
| Douglas R. Gulling Director | Nov 15, 2024 | Gift | −2,209 | – | – | 78,500 |
| Douglas R. Gulling Director | Nov 8, 2024 | Sale | −3,603 | $23.60 | $85.03K | 80,709 |
| Douglas R. Gulling Director | Nov 8, 2024 | Sale | −397 | $23.72 | $9.42K | 84,312 |
| Douglas R. Gulling Director | Nov 4, 2024 | Discretionary | −2 | $21.39 | $43 | 84,709 |
| David D. Nelson CEO & PRESIDENT, Director | Aug 21, 2024 | Buy | +730 | $19.04 | $13.90K | 106,635 |
| Patrick J. Donovan Director | Aug 19, 2024 | Returned to company | −1,945 | – | – | 5,250 |
| David D. Nelson CEO & PRESIDENT, Director | May 22, 2024 | Buy | +768 | $17.87 | $13.72K | 105,905 |
| Therese M. Vaughan Director | Apr 26, 2024 | Award | +1,945 | – | – | 11,413 |
| George D. Milligan Director | Apr 26, 2024 | Award | +1,945 | – | – | 67,283 |
| Steven K. Gaer Director | Apr 26, 2024 | Award | +1,945 | – | – | 22,283 |
| Lisa J. Elming Director | Apr 26, 2024 | Award | +1,945 | – | – | 5,880 |
| Steven T. Schuler Director | Apr 26, 2024 | Award | +1,945 | – | – | 16,195 |
| James Noyce Director | Apr 26, 2024 | Award | +1,945 | – | – | 20,283 |
| Rosemary Parson Director | Apr 26, 2024 | Award | +1,945 | – | – | 4,980 |
| Sean Patrick McMurray Director | Apr 26, 2024 | Award | +1,945 | – | – | 45,392 |
| Philip Jason Worth Director | Apr 26, 2024 | Award | +1,945 | – | – | 20,089 |
| Patrick J. Donovan Director | Apr 26, 2024 | Award | +1,945 | – | – | 7,195 |
Awards, option exercises, tax withholding and gifts are shown alongside open-market buys and sales. Each name links to the filing on SEC EDGAR.
Planned insider sales
Notices of proposed sale filed on Form 144 before shares are sold
| Seller | Filed | Shares | Market value | Planned sale | Acquired through |
|---|---|---|---|---|---|
| George D. Milligan Director | Dec 5, 2025 | 15,826 | $344.26K | Nov 21, 2025 | OPEN MARKET BROKER PURCHASE |
| Douglas R. Gulling Officer | Nov 12, 2025 | 7,900 | $172.77K | Nov 11, 2025 | vesting of restricted stock units |
| Douglas R. Gulling Director | Nov 8, 2024 | 4,000 | $95.00K | Nov 8, 2024 | Purchased in 401K Plan with contributions to 401(k) |