West Bancorporation, Inc. (Parent Company Only) Condensed Financial Statements (Notes)

12 Months Ended

Dec. 31, 2011

West Bancorporation, Inc. (Parent Company Ony) Condensed Financial Statements [Abstract]

West Bancorporation, Inc. (Parent Company Only) Condensed Financial Statements

Note 17. West Bancorporation, Inc. (Parent Company Only) Condensed Financial Statements

Balance Sheets
December 31, 2011 and 2010
	2011		2010
ASSETS
Cash	$	1,882	$	226
Securities available for sale	1,245		1,339
Investment in West Bank	129,578		150,860
Investment in West Bancorporation Capital Trust I	619		619
Notes receivable	2,000		2,000
Other real estate owned	7,650		9,797
Other assets	1,127		1,626
Total assets	$	144,101	$	166,467
LIABILITIES AND STOCKHOLDERS' EQUITY
LIABILITIES
Accrued expenses and other liabilities	$	31	$	412
Subordinated notes	20,619		20,619
Total liabilities	20,650		21,031
STOCKHOLDERS' EQUITY
Preferred stock	—		34,508
Common stock	3,000		3,000
Additional paid-in capital	33,687		34,387
Retained earnings	86,110		76,188
Accumulated other comprehensive income (loss)	654		(2,647		)
Total stockholders' equity	123,451		145,436
Total liabilities and stockholders' equity	$	144,101	$	166,467

Statements of Operations
Years Ended December 31, 2011, 2010, and 2009
	2011			2010			2009
Operating income:
Equity in net income (loss) of West Bank	$	17,398		$	15,436		$	(3,753	)
Equity in net loss of discontinued operations	—			—			(9,566		)
Equity in net income of West Bancorporation Capital Trust I	21			38			44
Interest and dividend income	49			587			719
Securities gains, net	—			14			—
Investment securities impairment losses	(99		)	—			(35		)
Other	55			—			—
Total operating income	17,424			16,075			(12,591		)
Operating expenses:
Interest on subordinated notes	715			1,280			1,472
Salaries and employee benefits	—			157			282
Occupancy	—			17			373
OREO expense	2,021			39			—
Miscellaneous losses	—			963			—
Other	512			507			713
Total operating expenses	3,248			2,963			2,840
Income (loss) before income taxes	14,176			13,112			(15,431		)
Income tax benefits	(1,092		)	(271		)	(814		)
Net income (loss)	$	15,268		$	13,383		$	(14,617	)

Statements of Cash Flows
Years Ended December 31, 2011, 2010, and 2009
	2011			2010			2009
Cash Flows from Operating Activities:
Net income (loss)	$	15,268		$	13,383		$	(14,617	)
Adjustments to reconcile net income (loss) to net cash
provided by operating activities:
Equity in net (income) loss of West Bank	(17,398		)	(15,436		)	3,753
Equity in net loss of discontinued operations	—			—			9,566
Equity in net income of West Bancorporation Capital Trust I	(21		)	(38		)	(44		)
Dividends received from West Bank	42,035			3,945			3,499
Dividends received from West Bancorporation Capital Trust I	21			38			44
Dividends received from WB Capital Management Inc.	—			—			1,081
Securities gains, net	—			(14		)	—
Investment securities impairment losses	99			—			35
Loss on sale of other real estate owned	50			—			—
Amortization	14			14			14
Loss on disposition of premises and equipment	—			4			—
Writedown of other real estate owned	1,902			25			—
Deferred income taxes (benefits)	(726		)	243			(180		)
Depreciation	—			1			5
Change in assets and liabilities:
Decrease in other assets	1,210			776			191
(Decrease) increase in accrued expenses and other liabilities	(214		)	(76		)	203
Net cash provided by operating activities	42,240			2,865			3,550
Cash Flows from Investing Activities:
Proceeds from sales of securities available for sale	—			159			3
Purchases of securities available for sale	—			(1,339		)	—
Net change in loans	—			200			—
Net proceeds from sales of other real estate owned	195			—			—
Repayment of debentures from West Bank	—			10,000			—
Purchase of other real estate owned from West Bank	—			(9,822		)	—
Loan advance	—			—			(200		)
Net cash provided by (used in) investing activities	195			(802		)	(197		)
Cash Flows from Financing Activities:
Common stock cash dividends	(2,959		)	(870		)	(1,566		)
Preferred stock dividends paid	(1,120		)	(1,800		)	(1,575		)
Redemption of preferred stock	(36,000		)	—			—
Repurchase of common stock warrant	(700		)	—			—
Preferred stock issuance costs	—			—			(65		)
Net cash used in financing activities	(40,779		)	(2,670		)	(3,206		)
Net increase (decrease) in cash	1,656			(607		)	147
Cash:
Beginning	226			833			686
Ending	$	1,882		$	226		$	833