8-K

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, D.C. 20549

FORM 8-K

CURRENT REPORT

Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934

Date of Report (Date of Earliest Event Reported): January 28, 2011

WEST BANCORPORATION, INC.

(Exact name of registrant as specified in its charter)

Iowa	0-49677	42-1230603
(State or other jurisdiction of incorporation)	(Commission File Number)	(I.R.S. Employer Identification No.)

1601 22^ndStreet, West Des Moines, Iowa 50266

(Address of principal executive offices) (Zip Code)

Registrant's telephone number, including area code: 515-222-2300

Not Applicable

(Former name or former address, if changed since last report)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

o Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

o Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

o Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

o Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Item 2.02 Results of Operations and Financial Condition.

On January 28, 2011, West Bancorporation, Inc. issued a press release announcing the record date of the annual meeting and earnings for the fourth quarter and year ended December 31, 2010. The press release is filed as Exhibit 99.

Item 9.01 Financial Statements and Exhibits.

Exhibit 99: Press Release of West Bancorporation, Inc. dated January 28, 2011.

The information contained in this report may contain forward-looking statements about the Compa ny's growth and acquisition strategies, new products and services, and future financial performance, including earnings and dividends per share, return on average assets, return on average equity, efficiency ratio, and capital ratios. Certain statements in this report constitute “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995, including statements preceded by, followed by or that include the words “believes,” “expects,” “intends,” “should,” “anticipates,” or similar references, or references to estimates or predictions. Such forward-looking statements are based upon certain underlying assumptions, risks, and uncertainties. Because of the possibility that the underlying assumptions are incorrect or do not materialize in the future, actual results could differ materially from these forward-looking statements. Risks and uncertainties that may affect future results include: interest rate risk; competitive pressures; pricing pressures on loans and deposits; changes in credit and other risks posed by the Company's loan and investment portfolios, including declines in commercial or residential real estate values or changes in the allowance for loan losses dictated by new market conditions or regulatory requirements; actions of bank and non-bank competitors; changes in local and national economic conditions; changes in regulatory requirements, including actions of the Securities and Exchange Commission, the United States Department of the Treasury, the Federal Deposit Insurance Corporation, the Federal Reserve Board, and/or the Iowa Division of Banking; changes in the Treasury's Capital Purchase Program; and customers' acceptance of the Company's products and services. The Company undertakes no obligation to revise or update such forward-looking statements to reflect current events or circumstances after the date hereof or to reflect the occurrence of unanticipated events.

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly c aused this report to be signed on its behalf by the undersigned hereunto duly authorized.

		West Bancorporation, Inc.
January 28, 2011	By:	/s/ Douglas R. Gulling
		Name: Douglas R. Gulling
		Title: Executive Vice President and Chief Financial Officer

Exhibit Index

Exhibit No.	Description
99	Press Release of West Bancorporation, Inc. dated January 28, 2011.

EX-99

Exhibit 99

Press Release

January 28 , 2011

FOR IMMEDIATE RELEASE

For more information contact:

Doug Gulling, Executive Vice President and Chief Financial Officer (515) 222-2309

WEST BANCORPORATION, INC. ANNOUNCES ANNUAL MEETING DATE AND RESULTS FOR 4TH QUARTER AND YEAR 2010

West Des Moines, IA - West Bancorporation, Inc. (NASDAQ: WTBA) (the “Company”), parent company of West Bank, reports net income available to common shareholders of $2.9 million or $0.17 per share for the fourth quarter of 2010 compared to $2.2 million or $0.13 per share for the same quarter in 2009.

The fourth quarter results included a provision for loan losses of $650,000. The Company also recognized additional write-downs on other real estate owned of $959,000 during the fourth quarter, based on updated appraisals on several commercial properties and continued weakness in the commercial real estate market.

For the year 2010, net income available to common shareholders was $11.1 million compared to a net loss of ($16.9) million for 2009. Earnings per common share for 2010 were $0.64 compared to a loss per common share of ($0.97) in 2009. The net loss for 2009 included a second quarter after-tax charge for goodwill impairment that totaled $18.4 million.

“We continue to be pleased with the progress being made and the direction in which we are headed,” commented David Nelson, President and Chief Ex ecutive Officer. “Our nonperforming assets have declined by 37 percent during 2010. Although there could be bumps in that trend line, we believe the amount of nonperforming assets will continue to trend downward. We have enhanced our infrastructure to enable our bankers to spend more time on business development while others focus on credit underwriting and compliance. We are looking forward to 2011.”

During the fourth quarter, total nonperforming assets declined $3.9 million to $33.5 million.

Loans outstanding totaled $889 million at December 31, 2010, down from $1.02 billion a year ago. “Loan payoffs exceeded the demand for new loans during 2010,” stated Nelson. “We may see that trend continue for another quarter or so, but we believe our total loans will be higher at the end of 2011. We are actively seeking new business, both from existing customers and new customers.”

The allowance for loan losses as a percentage of loans outstanding as of December 31, 2010, was 2.15 percent. This is up from 1.87 percent at December 31, 2009. Management believes the allowance is adequate to absorb the losses inherent in the loan portfolio, although the economic environment will continue to be a significant determinant of future loan losses.

West Bank's deposits totaled $972 million at year end 2010 compared to $1.25 billion a year ago. Deposits associated with SmartyPig^®, the online savings program developed by Des Moines entrepreneurs, totaled $187 million at the end of 2009. As previously reported, those deposits were transferred to a larger bank in the third quarter of 2010, at West Bank's request.

At its quarterly meeting on Januar y 26, 2011, the Company's Board of Directors voted to forgo a common stock quarterly dividend. The Company paid a special common stock dividend of $0.05 per share in December 2010. The Company anticipates resuming quarterly common stock dividends at some point in 2011. The Company will pay the United States Treasury $450,000 on February 15, 2011 as a quarterly preferred stock dividend.

The Board also set the record date for the Annual Meeting of Shareholders as February 28, 2011. The meeting will be held April 28, 2011.

The Company and West Bank continue to be well-capitalized under all regulatory measures. West Bank's capital ratios also exceed the requirements of the memorandum of understanding with the Iowa Division of Banking. The following are the regulatory capital ratios as of December 31, 2010. Also shown are the average capital ratios for all banks in the United States with total assets between $1 billion and $3 billion as of September 30, 2010, the latest data available at this time.

16.6

						< /td>						Requirements for					Average of
							Requirements to Be					West Bank					Peer
	Actual						Well-Capitalized					Per Agreement (1)					Group
(in thousands)	Amount			Ratio			Amount		Ratio			Amount		Ratio			Ratio
< div style="text-align:left;font-size:10pt;">As of December 31, 2010:
Total Capital (to Risk-Weighted Assets)
Consolidated	$	180,413		17.7	%		n/a		n/a			n/a		n/a			n/a
West Bank	162,682			%		$	98,102	10.0	%		$	117,723	12.0	%		13.7	%
Tier I Capital (to Risk-Weighted Assets)						&nbs p;
Consolidated	167,612			16.5	%		n/a		n/a			n/a		n/a			n/a
West Bank	150,335			15.3	%		58,861		6.0	%		n/a		n/a			12.4	%
												< /font>
Tier I Capital (to Average Assets)									< div style="overflow:hidden;font-size:10pt;">
Consolidated	167,612			11.8	%		n/a		n/a			n/a		n/a			n/a
West Bank	150,335		&nbs p;	10.7	%		70,419		5.0	%		112,670		8.0	%		8.8	%

(1) Per the memorandum of understanding with the Iowa Division of Banking and the FDIC.

The Company will file its annual report on Form 10-K with the Securities and Exchange Commission in early March 2011. Please refer to it for a more in-depth analysis of our results. It will be available on the Investor Relations section of the Company's website at www.westbankiowa.com when it is filed.

The Company will discuss its results for the fourth quarter and year 2010 during a conference call scheduled for 2:00 p.m. Central Time today, Friday, January 28, 2011. The t elephone number for the conference call is 877-317-6789. A recording of the call will be available until February 14, 2011, at 877-344-7529, pass code: 447161.

West Bancorporation, Inc. is headquartered in West Des Moines, Iowa. Serving Iowans since 1893, West Bank, a wholly-owned subsidiary of West Bancorporation, Inc., is a community bank that focuses on lending, deposit services, and trust services for consumers and small- to medium-sized businesses. West Bank has two full-service offices in Iowa City, one full-service office in Coralville, and eight full-service offices in the greater Des Moines area.

The information contained in this report may contain forward-looking statements about the Company's growth and acquisition strategies, new products and services, and future financial performance, including earnings and dividends per share, return on average assets, return on average equity, efficiency ratio, and capital ratios. Certain statements in this report constitute “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995, including statements preceded by, followed by, or that include the words “believes,” “ expects,” “intends,” “should,” “anticipates,” or similar references or references to estimates or predictions. Such forward-looking statements are based upon certain underlying assumptions, risks, and uncertainties. Because of the possibility that the underlying assumptions are incorrect or do not materialize in the future, actual results could differ materially from these forward-looking statements. Risks and uncertainties that may affect future results include: interest rate risk; competitive pressures; pricing pressures on loans and deposits; changes in credit and other risks posed by the Company's loan and investment portfolios, including declines in commercial or residential real estate values or changes in the allowance for loan losses dictated by new market conditions or regulatory requirements; actions of bank and non-bank competitors; changes in local and national economic conditions; changes in regulatory requirements, including actions of the Securities and Exchange Commission, the United States Department of the Treasury, the Federal Deposit Insurance Corporation, the Federal Reserve Board, and/or the Iowa Division of Banking; changes in the Treasury's Capital Purchase Program; and customers' acceptance of the Company's products and services. The Company undertakes no obligation to revise or update such forward-looking statements to reflect current events or circumstances after the date hereof or to reflect the occurrence of unanticipated events.

WEST BANCORPORATION, INC. AND SUBSIDIARY
Financial Information (unaudited)
(in thousands, except per share data)
CONSOLIDATED STATEMENTS OF CONDITION	December 31, 2010			&nb sp;	December 31, 2009
Assets
Cash and due from banks	$	20,069			$	27,923
Short-term investments	67,885				103,572
Securities	267,537				351,269
Loans held for sale	4,452				332
Loans	888,649				1,020,710
Allowance for loan losses	(19,087		)		(19,126		)
Loans, net	869,562				1,001,584
Bank-owned life insurance	25,395				25,400
Other real estate owned	19,193				25,350
Other assets	31,370				39,624
Total assets	$	1,305,463			$	1,575,054
Liabilities and Stockholders' Equity
Deposits:
Noninterest-bearing	$	230,277			$	206,412
Interest-bearing:
Demand	142,031				162,305
Savings	313,850				442,137
Time of $100 ,000 or more	178,388				271,145
Other Time	107,526				164,618
Total deposits	972,072				1,246,617
Short-term borrowings	55,009				42,895
Long-term borrowings	125,619				145,619
Other liabilities	7,327				6,864
Stockholders' equity	145,436				133,059
Total liabilities and stockholders' equity	$	1,305,463			$	1,575,054

	PER COMMON SHARE					MARKET INFORMATION (1)
	Net Income (Loss)			Dividends		High		Low
2010
1st quarter	$	0.16		$	—	$	6.64	$	4.80
2nd quarter	0.12			—		9.04		6.32
3rd quarter	0.19			—		7.28		5.51
4th quarter	0.17			0.05		8.19		6.13
2009
1st quarter	$	0.14		$	0.08	$	12.40	$	4.36
2nd quarter	(1.32		)	0.01		9.50		5.00
3rd quarter	0.08			—		6.38		4.61
4th quarter	0.13			—		5.50		4.28

(1) The prices shown are the high and low sale prices for the Company's common stock, which trades on the Nasdaq Global Select Market, under the symbol WTBA. The market quotations, reported by Nasdaq, do not include retail markup, markdown, or commissions.

WEST BANCORPORATION, INC. AND SUBSIDIARY
Financial Information (continued) (unaudited)
(in thousands, except per share data)
		Three months ended						Year ended
		December 31,						December 31,
CONSOLIDATED STATEMENTS OF OPERATIONS		2010			2009			2010				2009
Interest income
Loans		$	12,699		$	14,271		$	53,215			$	59,309
Securities		1,652			1,873			7,387				7,900
Other		95			137			541				521
Total interest income		14,446			16,281			61,143				67,730
Interest expense	;
Deposits		2,170			4,306			13,217			&nb sp;	19,548
Short-term borrowings		40			80			210				320
Long-term borrowings		1,210			1,706			5,596				6,768
Total interest expense		3,420			6,092			19,023				26,636
Net interest income		11,026			10,189			42,120				41,094
Provision for loan losses		650			3,000			6,050				24,500
Net interest income after provision for loan losses		10,376			7,189			36,070				16,594
Noninterest income
Service charges on deposit accounts		836			901			3,361				4,021
Debit card usage fees		335			298		< /td>	1,329				1,123 < /td>
Service fee from SmartyPig, LLC		—			—			1,314				—
Trust services		202			205			818				786
Gains and fees on sales of residential mortgages		489			255			1,533				1,114
Increase in cash value of bank-owned life insurance		205			214			869				776
Gain from bank-owned life insurance		2			—			422				840
Other income		285			238			1,006				972
Total noninterest income		2,354			2,111			10,652		&nbs p;		9,632
Investment securities gains (losses), net
Total other than temporary impairment losses		—			(30		)	(305		)		(3,444		)
Portion of loss recognized in other comprehensive
income (loss) before taxes		—			(65		)	—				832
Net impairment losses recognized in earnings		—			(95		)	(305		)		(2,612		)
Realized securities gains, net		(13		)	(76		)	40				1,884
Investment securities (losses), net		(13		)	(171		)	(265		)		(728		)
Noninterest expense											< div style="overflow:hidden;font-size:10pt;">
Salaries and employee benefits		2,816			2,444			10,996				9,938
Occupancy		804			814			3,207				3,451
Data processing		449			449			1,815				1,761
FDIC insurance expense		802			469			3,082				2,736		&nbs p;
Other real estate owned expense		1,059			153			1,716				368
Professional fees		255			160			959				964
Miscellaneous losses		122			11			1,330				70
Goodwill impairment		—			—			—				13,376
Other expense		1,094			1,199			4,639				5,241
Total noninterest e xpense		7,401			5,699			27,744				37,905

WEST BANCORPORATION, INC. AND SUBSIDIARY
Financial Information (continued) (unaudited)				&nb sp;
(in thousands, except per share data)
	Three months ended							Year ended
	December 31,							December 31,
	2010				2009			2010				2009
Income (loss) before income ta xes	$	5,316			$	3,430		$	18,713		&n bsp;	$	(12,407	)
Income taxes (benefits)	1,816				665			5,330				(7,356		)
Income (loss) from continuing operations	3,500				2,765			13,383				(5,051		)
Income (loss) from discontinued operations before income taxes	—				132			—				(10,262		)
Income taxes (benefits)	—				81			—				(696		)
Income (loss) from discontinued operations	—				51			—				( 9,566		)
Net income (loss)	3,500				2,816			13,383				(14,617		)
Preferred stock dividends and accretion of discount	(571		)		(568		)	(2,284		)		(2,276		)
Net income (loss) available to common stockholders	$	2,929			$	2,248		$	11,099			$	(16,893	)
SUPPLEMENTAL INFORMATION
Income (loss) from continuing operations	$	3,500			$	2,765		$	13,383			$	(5,051	)
Preferred stock dividends and accretion of discount	(571		)		(568		)	(2,284		)		(2,276		)
Net income (los s) from continuing operations
available to common stockholders	$	2,929			$	2,197 < /td>		$	11,099			$	(7,327	)
PERFORMANCE HIGHLIGHTS
Return on average equity	9.45		%		8.22		%	9.49		%		(10.21		)%
Return on average assets	0.98		%		0.70		%	0.86		%		(0.90		)%
Net interest margin	3.46		%		2.85		%	3.04		%		2.86		%
Efficiency ratio	53.31		%		44.02		%	50.40		%		45.99		%