West Bancorporation (WTBA) Proxy Filing summary

Executive summary

• Annual Meeting scheduled for April 24, 2025, to elect 10 directors, approve executive compensation, and ratify the external auditor appointment.

• Proxy materials are distributed electronically to reduce costs, with paper copies available upon request.

• 2024 net income was $24.1 million, with a return on average equity of 10.71% and no nonperforming assets at year-end.

Voting matters and shareholder proposals

• Shareholders will vote on electing 10 directors, a nonbinding say-on-pay for 2024 executive compensation, and ratification of RSM US LLP as auditor for 2025.

• Board recommends voting FOR all director nominees, executive compensation, and auditor ratification.

• No shareholder proposals were received for this meeting.

Board of directors and corporate governance

• Board will reduce from 11 to 10 members after the meeting; 8 of 10 nominees are independent.

• Chair and CEO roles are separated; Chair is independent.

• Board diversity includes 30% female representation and a range of expertise in banking, IT, and public company leadership.

• Annual board and committee self-evaluations; director age limit of 73.

• Only independent directors serve on key committees.