2008 Annual Meeting
April 17, 2008
Welcome and Introductions
Tom Stanberry
Chairman & CEO
2007 Overview
Tom Stanberry
Chairman & CEO
2007 Financial Overview
Doug Gulling, CFO
West Bancorporation, Inc.
+2.3%
$4.4 bil
$4.5 bil
AUM
+6.9%
$113.8 mil
$121.6 mil
Stockholders'
equity
-1.5%
$925 mil
$911 mil
Total deposits
+5.6%
$1.269 bil
$1.340 bil
Total assets
-2.5%
$19,407
$18,920
Net income
%Change
2006
2007
West Bancorporation, Inc.
+1.2%
8.97%
9.08%
Equity: Assets
-1.1%
43.42%
43.91%
Efficiency
-3.0%
3.38%
3.28%
NIM
-10.3%
18.08%
16.21%
ROE
-2.7%
1.49%
1.45%
ROA
% Change
2006
2007
Return on Assets
Return on Equity
Loans & Leases to Deposits
Net Interest Margin
Assets Per Employee
Efficiency Ratio
Pre-Tax Net Income per Employee
Real Estate Loans
Commercial Loans
Average Yield on Total Loans
Average Rate Paid on Interest-Bearing Deposits
Non-Current Loans to Gross Loans
Net Charge-Offs to Average Loans
West Bancorporation, Inc.
First Quarter Results
-
$4.5 bil
$4.7 bil
AUM
+5.6%
$115.9 mil
$122.4 mil
Stockholders'
equity
-4.3%
$924 mil
$884 mil
Total deposits
+0.5%
$1.330 bil
$1.336 bil
Total assets
+0.5%
$4,444
$4,468
Net income
%Change
2007
2008
West Bancorporation, Inc.
First Quarter Results
+5.2%
8.71%
9.16%
Equity: Assets
+0.9%
47.53%
47.10%
Efficiency
+4.3%
3.24%
3.38%
NIM
-6.9%
15.86%
14.76%
ROE
-1.5%
1.38%
1.36%
ROA
% Change
2007
2008
2007 West Bank Overview
Brad Winterbottom, President
Loan Activity
Year-end 2006 growth 4%
Year-end 2007 growth 9%
$50 million in investment commercial real
estate unexpected payoffs due to declining
rate environment
Average 2006 growth 17%
Average 2007 growth 3%
Loan Quality
Non-performing assets (non accrual + 90 days past due)
12.31.06 $ 650,000
12.31.07 $5,877,000
Two relationships equal 80 percent of the balance
In Other Real Estate Owned
12.31.06 $2,000,000
12.31.07 $ 155,000
At 12.31.06 past dues over 30 days
.60% of portfolio vs. state avg of 1.48%
At 12.31.07 past dues over 30 days
.48% of portfolio vs. state avg of 1.91%
Recent FDIC Exam
Treasury Management
eDeposit
Reaching 50 clients with 67 scanners currently in use
Transition for eDeposit from IRD processing to ACH
Zero Balance Accounting process
Internet Merchant Card Processing
Looking to 2008
Positive Pay Solution
ACH Debit Filtering Solutions
Payroll Card Options
Expansion of International Services
Marketing Efforts
2007- 3D campaign We’re Listening
Sales
$17.7 million in loans
$14.9 million in deposits
2008 3D campaign What’s Brewing
Launched in February
All Branch managers and some commercial bankers
2007 Shred It Day- Preventing Identity Theft
Big response
4.5 tons of paper processed from 250-300 individuals
Next shred day events: Eastern Iowa May 31, Des Moines
June 14
Mystery Shopping (see slide next page)
Additions to the West Bank Team
Jason Trenkamp, Branch Manager North
Jenny Greenleaf, Branch Manager Urbandale
Todd McGowan, Branch Manager 22nd St.
Kristen Boyles, Commercial Banker
Josh Norton, Commercial Banker
Scott Jarvis, Utility Player
Stephanie Avery, Residential Mortgages in DSM
Steve Fedelspiel, Residential Mortgages in EI
Training Efforts
Loyd Pohl
Conducting a series of sales coaching workshops
Goal: build profit-oriented client responsive sales
SparkPoint Training
Presentation Skills- Full day sessions. Follow up critique of
actual presentation for all participants
Passion, Pride and Professionalism- Professionalism
Dress for Success
Business Etiquette
Fundamentals of Customer Service- Fred Factor
In 2008:
Continuation of employee development through series of
scheduled training sessions
Retail Banking
New Products
Health Savings Accounts
Bank@Work
Reward Me Checking
Facility Improvements
Closed SkyWalk Branch
Finished Second Floor Remodel
Expanded parking and drive thru- South Office
Grand Ave. Branch plans
Waukee lease pending
Looking at sites in North Liberty
Trust
2007 State Examination- Best Rating
Assets
2006- $293 million total assets- managed and
custody
2007- $317 million, 8% increase
Staff
No staff turnover
More than 15 years experience
Emphasis in 2007 on marketing to referral
sources: CPA, Attorneys, Financial Planners and
Independent Asset Managers
2007
WB Capital Management Inc.
Overview
Scott Eltjes, CEO
Business Summary
Assets (12.31.07)
Under Management $4.5 billion
Under Administration $ .3 billion
Total $4.8 billion
Asset Class
2007 Financial Results
Financial performance improves each quarter
in 2007
Expense control- Expenses down 8.5%
Net income more than doubles vs. 2006
2006- $265,171
2007- $568,365
Momentum Continues into 2008
2007 Investment Performance
Strong Investment Performance in 2007
Increased visibility of our strategies in investment
consultant channel
Equity Strategies
Large Margins of Outperformance
Strong Double Digit Returns
Fixed Income Strategies
Strong Peer Group Rankings
Strong Absolute Performance
Quality Portfolios in Favor
2007 Successes
First Full Year of Operation as WB Capital Management Inc.
Improved Financial Performance
Strong Investment Performance
New Product Innovation- Allocation Product- Active Asset
Allocation using multiple asset classes
Public Fund Business Strong
Over 300 New SMA Accounts
New Distribution Partners- Institutional and Retail
3D Campaign/Cross-Sale Effort Successes
Doubled Assets in Small Cap Product
Chairman’s Remarks
Tom Stanberry
Chairman & CEO
What is SmartyPig?
An online version of a piggy bank where
you save for a specific goal
Patent-pending technology
Latest in security standards
Involve family and friends in your savings
Incentive boosts
Includes a 4.30%* (APY) interest rate
*as of 4/17/08
Strategic Partners
Why We Are Unique
Goal specific savings accounts
Monthly withdrawals from existing pay source
till goal is met
Interest bearing
Public accounts allow friends and family to
contribute
Goal redeemed with gift card from best-in-
class retailers or MasterCard Debit Card
Different from Competition
The brand sizzles and sticks
A Feel Good Story - optimistic & nostalgic
Only banking application that is social
Family & friends can contribute - widgets,
avatars, SmartyPig friends, Gift of Savings
Target: Gen X & Y
Educational - Parents: “This is cool”
More $ for your money!
Connecting
$0 advertising budget - all PR
Grassroots: Friends & Family
Targeted Influencers - Bloggers/Viral
Reacted to customers’ ideas
Reached out to local media
Reached out to national media
Out of the Gate
“The most innovative financial service
we’ve seen since Prosper launched two
years ago.”
What They’re Saying?
SmartyPig excels at facilitating goal-oriented saving -
this is perhaps the best way I’ve ever seen...
Creating a system for disciplined and
social savings is something that
SmartyPig has done well, and I look
forward to watching this company grow.
This is the coolest money idea I’ve seen in
a long time! - American Consumer News
Colorful, intuitive, and fun. The
management team seems very
tech-savvy, and they are not
afraid to embrace new trends
and try different things to
shape the way we do banking
online.
Initial Press
What’s Next?
Lydian Roundtable - M.I.T.
Finovate
West Coast media tour
National radio tour
NAPS articles
Economic Stimulus
Graduation - “Give the Gift of Savings”
One Month In
Customers in 45 states
More than 1,100 users
Average goal amount: $6,091
Average length of goal: About 3 years
Top goal category: Travel
50% of goals are public
Averaging 35-50 new accounts a day
Questions & Answers
