West Bancorporation Inc., parent company of West Bank, today reported 2019 net income of $28.7 million, or $1.74 per share, compared with 2018 net income of $28.5 million, or $1.74 per share. The West Des Moines-based bank had record earnings for the year, despite additional expenses from its expansion into Minnesota in 2019. Net income for the fourth quarter of 2019 was $7.6 million, or 46 cents per share. This compares with fourth-quarter 2018 net income of $7.2 million, or 44 cents per share. On Jan. 22, the board of directors declared a regular quarterly dividend of 21 cents per share. The company’s 2019 results were affected by the costs related to its expansion into three Minnesota markets. Compensation, occupancy and equipment costs, professional fees and business development costs totaled approximately $2.8 million on a pretax basis in 2019. The estimated pretax net interest income from loans and deposits and related fee income in these markets was about $1.1 million in 2019. The bank generated more than $119 million in new loan originations in Minnesota last year, CEO Dave Nelson said in an earnings release.