West Bancorporation Inc. of West Des Moines reported third-quarter net income of $7.1 million, or 43 cents per share, compared with profits in the year-ago period of $6.4 million, or 39 cents per share. For the first nine months of 2018, net income was $21.3 million, or $1.30 per diluted common share, up from $18.9 million, or $1.16 per diluted common share, for the first nine months of 2017. “Year-over-year earnings benefited from the lower corporate tax rate but continued to be tempered by rising interest rates and the resulting increased cost of funds,” Dave Nelson, president and  CEO, said in a statement. Loan balances increased $66.4 million, or 4.3 percent, to nearly $1.6 billion over the quarter. “We believe West Bank is well positioned to develop healthy organic loan growth,” West Bank President Brad Winterbottom said in a statement. “The current environment, though, is not without its challenges given the flat yield curve and a very competitive lending market.”