WEST DES MOINES, Iowa, July 21 /PRNewswire-FirstCall/ -- West
Bancorporation, Inc., (Nasdaq: WTBA) today announced its wholly-owned
subsidiary, West Des Moines State Bank (West Bank), closed on the purchase of
Hawkeye State Bank on Friday, July 18.
Hawkeye State Bank has assets of approximately $135,000,000 with deposits
of approximately $95,000,000 with two locations in Iowa City, Iowa. Total
assets of West Bank are now approximately $1 billion.
"After 110 years serving metro Des Moines, we are excited to expand into
other Iowa markets," said Thomas E. Stanberry, Chairman, President and Chief
Executive Officer of West Bancorporation. "Today we begin to support the
success of the Iowa City community."
"West Bank's strength in serving small to medium sized businesses will
benefit the Iowa City economy," said Lynn Rowat, West Bank's new market
president leading the Iowa City operation. "Hawkeye customers will see
expanded business and personal services in the months ahead."
ABOUT WEST BANCORPORATION
West Bancorporation, Inc. is headquartered in West Des Moines, Iowa and is
the parent company of West Bank, which has been serving the greater
metropolitan Des Moines area for 110 years and Hawkeye State Bank, an office
of West Bank. West Bank focuses on lending, deposit services and trust
services for consumers and small to medium sized businesses, and is a leader
in Small Business Administration (SBA) lending. The Bank has ten full-service
offices in central Iowa and a growing network of ATM's. On July 11, West
Bancorporation entered into an agreement to purchase VMF Capital, L.L.C. --
Iowa's largest independent investment advisor with 25 employees in its Cedar
Rapids and Clive offices and assets under management of approximately
$370 million. Visit http://www.westbankiowa.com/ for more information.
SOURCE West Bancorporation, Inc.
-0- 07/21/2003
/CONTACT: Doug Gulling, Chief Financial Officer of West Bancorporation,
+1-515-222-2309/
(WTBA)
CO: West Bancorporation, Inc.; West Des Moines State Bank; Hawkeye State Bank
ST: Iowa
IN: FIN
SU: TNM
JS-CS
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1497 07/21/200312:14 EDThttp://www.prnewswire.com