West Bancorporation Inc. reported net income of $4.44 million, or 25 cents per share, for the first quarter of 2007, compared with $4.54 million, or 26 cents per share, for the same period last year. Total assets for the parent company of West Bank and WB Capital Management Inc. increased slightly to $1.33 million from $1.3 million last year.

Loans outstanding increased $17 million from the year-ago period while deposits decreased by $45 million as a result of issuing fewer wholesale certificates of deposit, which was a conscious decision by the company.

Net interest income fell by $232,000 as a decline in the net interest margin offset growth in earning assets, the company said. The net interest margin for the first quarter was 3.24 percent, 18 basis points lower than a year ago. The company said this margin declined because the cost of funds (deposits and borrowing) increased faster than the yield on earning assets (loans and investments).

The company will discuss its results in a conference call tomorrow at 2 p.m. To listen, call (877) 407-0778. A recording of the conference call will be available until May 1 at (877) 660-6853. To access the recording, use account number 286 and conference ID number 226742.