Item
2.06 Material Impairments.
West
Bank, a wholly-owned subsidiary of West Bancorporation, Inc., will record
an
other-than-temporary impairment and take a non-cash charge to earnings in
third
quarter 2008 for an investment in a senior unsecured note issued by Lehman
Brothers, Inc. The note is included in West Bank’s securities available for sale
at a cost of approximately $2.0 million. It is currently trading at 18 cents
on
the dollar. The after-tax impact on earnings is estimated to be approximately
$1
million.
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 ratio. 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,” “should,” or “anticipates,” or references to estimates or
similar expressions. Such forward-looking statements are based upon certain
underlying assumptions, risks and uncertainties. Because of the possibility
of
change in the underlying assumptions, 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 and/or the Federal Reserve Board; 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 caused this report to be signed on its behalf by the undersigned hereunto
duly authorized.
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West
Bancorporation, Inc.
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September
18, 2008
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By:
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Douglas
R. Gulling
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Name:
Douglas R. Gulling
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Title:
Executive Vice President and Chief Financial
Officer
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