West Bank in West Des Moines, Iowa (IA)



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West Bank
GeneralFDIC Certificate #: 15614
Status: Active
Federal Reserve ID: 139740
Bank Holding Company (Regulatory Top Holder): West Bancorporation, Inc. (RSSDID: 1210066, Location: West Des Moines, IA)
Date Established: January 01, 1893
WWW: http://www.westbankiowa.com
Bank Charter Class: Commercial bank, state charter and Fed nonmember, supervised by the FDIC
Offices: 12 (Domestic: 12, Interstate: No)
OTS Docket #: 9432
FDIC's unique #: 9896
Numeric code: 21
Regulator: FDIC
Insurance Fund Membership: Deposit Insurance Fund (DIF)
Insured commercial Banks: Yes
FDIC Insured: Yes
Deposit Insurance Fund member: Yes
Ownership Type: Non-Stock
FFIEC Call Report 31 Filer: No
State Chartered: Yes
Subchapter S Corporations: No
Asset Concentration Hierarchy: Commercial Lending Specialization
Date of Deposit Insurance: January 01, 1934
Last Structure Change Effective Date: March 31, 2006
Last Structure Change Process Date: November 03, 2006
Last Data Update: November 03, 2006
Data Source Date: April 05, 2012
LocationAddress: 1601 22nd Street, West Des Moines, IA 50265
County: Polk
Quarterly Banking Profile Region: Kansas City
FDIC Geographic Region: Kansas City
FDIC Supervisory Region: Kansas City
FDIC Field Office: Des Moines
Office of the Comptroller the Currency (OCC) District: Midwest
Office of Thrift Supervision Region: Western
Metropolitan Statistical Area (MSA): Des Moines, IA (#2120)
Combined Statistical Area (CSA): Des Moines-Newton-Pella, IA (#218)
Core Based Statistical Area (CBSA): Des Moines-West Des Moines, IA (#19780)
CBSA Metro Statistical Area: Des Moines-West Des Moines, IA (#19780)
History of ChangesMerge BIF and SAIF Funds into DIF
Financial SummaryTotal assets: $1,256.9 mil
Equity capital: $129.6 mil
Deposits held in domestic offices: $959.3 mil
Return on assets (ROA): 1.38% ($17.3 mil)
Quarterly return on assets: 1.35% ($17.0 mil)
Return on Equity (ROE): 12.65% ($16.4 mil)
Quarterly return on equity: 12.95% ($16.8 mil)
Net income: $17.4 mil
Quarterly Net income: $4.2 mil
Pretax return on assets: 1.95% ($24,510.2 mil)
Quarterly Pretax return on assets: 1.93% ($24,258.8 mil)

1992 - 1999 Historical total assets, liabilities and capital ($ mil)

2000 - 2011 Historical total assets, liabilities and capital ($ mil)

Historical Total Incomes ($ mil)

Historical Total Expenses ($ mil)

Historical total employees (full-time equivalent)

Assets and Liabilities (December 31, 2011)
(Dollar figures in thousands)
Total employees (full-time equivalent)179
Total assets$1,256,935
Cash and due from depository institutions$81,748
Interest-bearing balances$46,191
Securities$281,600
Federal funds sold & reverse repurchase agreements$5,025
Net loans & leases$824,271
Loan loss allowance $16,778
Trading account assets$0
Bank premises and fixed assets$5,396
Other real estate owned$3,317
Goodwill and other intangibles$0
All other assets$55,578
Life insurance assets$1,256,935
Total liabilities and capital$1,127,356
Total liabilities$959,255
Total deposits$688,486
Interest-bearing deposits$959,255
Deposits held in domestic offices$77
% insured (estimated)55841.00%
Federal funds purchased & repurchase agreements $0
Trading liabilities$105,000
Other borrowed funds $0
Subordinated debt $7,260
All other liabilities $129,579
Total equity capital$129,579
Total bank equity capital$129,579
Perpetual preferred stock$0
Common stock$3,000
Surplus$66,151
Undivided profits $60,428
Memoranda
Noncurrent loans and leases $0
Noncurrent loans that are wholly or partially guaranteed by the U.S. government $4,089
Income earned, not collected on loans $8,572
Earning assets $0
Long-term assets (5+ years) $4,181
Average Assets, year-to-date $1,157,087
Average Assets, quarterly $203,665
Volatile liabilities $1,256,528
Insider loans $1,235,198
FHLB advances $917,909
Loans and leases held for sale $1,276,153
Unused loan commitments $25,724
Tier 1 (core) risk-based capital $9,540
Tier 2 risk-based capital $126,969
Total risk weighted assets $14,556
Total unused commitments $1,628
Restructured Loans and leases $255,166
Derivatives$18,834
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Income and Expense (December 31, 2011)
(Dollar figures in thousands)
Total interest income $53,271
Total interest expense $11,202
Net interest income $42,069
Provision for loan and lease losses $550
Total noninterest income $8,800
Fiduciary activities $792
Service charges on deposit accounts $3,244
Trading account gains & fees $0
Additional noninterest income $4,764
Total noninterest expense $25,757
Salaries and employee benefits $13,194
Premises and equipment expense $3,342
Additional noninterest expense $9,221
Pre-tax net operating income $24,562
Securities gains (losses) $0
Applicable income taxes $7,164
Income before extraordinary items $17,398
Extraordinary gains - net $0
Net income attributable to bank $17,398
Net charge-offs $0
Cash dividends $17,398
Sale, conversion, retirement of capital stock, net $2,859
Net operating income $42,035
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Performance and Condition Ratios (December 31, 2011)
(Dollar figures in thousands)
Performance Ratios (%, annualized)
Yield on earning assets4.61%
Cost of funding earning assets 0.97%
Net interest margin 3.64%
Noninterest income to earning assets 0.76%
Noninterest expense to earning assets 2.23%
Net operating income to assets 1.38%
Return on assets (ROA) 1.38%
Pretax return on assets 1.95%
Return on equity (ROE) 12.65%
Retained earnings to average equity (YTD only) -17.92%
Net charge-offs to loans 0.34%
Credit loss provision to net charge-offs 19.24%
Efficiency ratio8.78%
Assets per employee$50,388
Cash dividends to net income (YTD only)7.02%
Condition Ratios (%)
Loss allowance to loans 241.61%
Loss allowance to noncurrent loans 1.99%
Noncurrent assets plus other real estate owned to assets 195.73%
Noncurrent loans to loans 0.95%
Net loans and leases to deposits1.02%
Net loans and leases to core deposits 85.93%
Equity capital to assets 100.75%
Core capital (leverage) ratio 10.31%
Tier 1 risk-based capital ratio 9.95%
Total risk-based capital ratio 13.83%
Memoranda
Average assets$15
Average earning assets$1,256,528
Average equity $137,492
Average loans $1,156,628
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Total Fiduciary and Related Assets (December 31, 2011)
(Dollar figures in thousands)
Total fiduciary and related assets$1
Number of Fiduciary Accounts and Related Asset Accounts1
Fiduciary powers grantedYes
Fiduciary or related activityYes
Managed Assets$122,016
Number of Accounts1
Personal trust and agency accounts$93,338
Employee benefit-defined contribution accounts$64,851
Employee benefit-defined benefit accounts$0
Other retirement accounts$0
Corporate trust and agency accounts$3,780
Investment management agency accounts$0
Other fiduciary accounts$24,572
Fiduciary accounts held in foreign offices$0
Non-managed Assets$135
Number of Accounts290
Personal trust and agency accounts$0
Employee benefit-defined contribution accounts$3,780
Employee benefit-defined benefit accounts$0
Other retirement accounts$28,678
Corporate trust and agency accounts$2,786
Other fiduciary accounts$0
Fiduciary accounts held in foreign offices$24,291
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12 Iowa Branches as of April 05, 2012
NoIDNameAddressEstablishedService TypeMap
09896West Bank1601 22nd Street, West Des Moines, IA 50265January 01, 1893Full Service Brick and Mortar
1234666Grand Avenue Branch125 Grand Avenue, West Des Moines, IA 50265July 10, 1972Full Service Brick and Mortar
2234667City Center Branch809 Sixth Avenue, Des Moines, IA 50309December 03, 1979Full Service Brick and Mortar
3234668East Branch2440 East Euclid Avenue, Des Moines, IA 50317September 04, 1990Full Service Brick and Mortar
7234669South Branch3920 S. W. 9th Street, Des Moines, IA 50315Febuary 28, 1994Full Service Brick and Mortar
11234670North Branch3839 Merle Hay Road, Suite 190, Des Moines, IA 50310September 19, 1994Full Service Brick and Mortar
12234671Urbandale Branch3255 99th Street, Urbandale, IA 50322June 14, 1999Full Service Brick and Mortar
1313335Iowa City Dubuque Street Branch229 South Dubuque Street, Iowa City, IA 52240January 03, 1966Full Service Brick and Mortar
14248728Lower Muscatine Road BranchLower Muscatine Road & First Avenue, Iowa City, IA 52240October 03, 1966Full Service Brick and Mortar
15442514Coralville Branch1150 5th Street, Coralville, IA 52241December 01, 2004Full Service Brick and Mortar
16457618West Bank Mobile Branch1601 22nd Street, West Des Moines, IA 50265December 11, 2006Limited Service Messenger
17488169West Branch - Waukee955 East Hickman Road, Waukee, IA 50263Febuary 09, 2009Full Service Brick and Mortar
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