Exhibit 99.1

Press Release

July 29, 2002
FOR IMMEDIATE RELEASE
For more information contact:
Doug Gulling, Chief Financial Officer (515) 222-2309

WEST BANCORPORATION, INC. ANNOUNCES SECOND QUARTER 2002 RESULTS

West Des Moines, IA - West Bancorporation, Inc. (WTBA), parent company of West
Des Moines State Bank (West Bank), reports net income for the second quarter of
2002 of $4,009,000 an increase of 3.6% over the second quarter of 2001. Earnings
per share were $0.25 compared to $0.24 for the second quarter of 2001. This
performance resulted in a return on average equity of 19.92%, a return on
average assets of 1.97%, and an efficiency ratio of 30.23%.

For the first six months of 2002, net income was $7,828,000 compared to
$7,367,000 for the first six months of 2001. Earnings per share were $0.49, up
from $0.46. The return on average equity, return on average assets and the
efficiency ratio were 19.70%, 1.92 % and 30.26%, respectively for the six months
ended June 30, 2002. All of these measures continue to place the Company's
performance far in excess of industry averages. In an article in the July 2002
issue of the ABA Banking Journal, West Bancorporation was recognized as the 7th
most profitable bank holding company in the nation with assets between $100
million and $1 billion, based on average return on equity for the past five
years. On that same list, the Company's five-year average return on assets was
the highest, and the five-year average efficiency ratio was second best. As of
June 30, 2002, equity as a percentage of total assets was 10.1%, indicating the
Company continues to be very well capitalized.

As interest rates declined throughout 2001 and have remained fairly constant
throughout 2002, interest expense declined faster than interest income,
improving the net interest margin to 4.01% from 3.69% a year ago. Noninterest
income is up 1.4% while noninterest expenses are up 6.9%. Included in
noninterest expenses is an initial listing fee paid to Nasdaq of $100,000 and
accounting and legal fees associated with registering the Company's common stock
with the Securities and Exchange Commission of $55,000. Without these one-time
costs, noninterest expenses would have been 4.0% higher than last year.

Compared to a year ago, loans are down approximately $11.3 million, mostly due
to the refinancing and subsequent sale of real estate loans in the secondary
market. Deposits are $39.5 million higher than a year ago.

West Bancorporation, Inc. is headquartered in West Des Moines, Iowa and through
its subsidiary, West Bank, has been serving the greater metropolitan Des Moines
area for 108 years. West Bank focuses on lending and deposit services for
consumers and small to medium sized businesses and is a leader in Small Business
Administration (SBA) lending. The Bank has eight full-service offices and a
growing network of ATM's.

At its July 11th meeting, the Board of Directors declared a quarterly dividend
of $0.16 per share payable on July 29th to shareholders of record on July 22nd.
This is an increase of $0.01 over the previous quarterly dividend.

-more-

WEST BANCORPORATION, INC. AND SUBSIDIARY, WEST DES MOINES STATE BANK
Financial Information (unaudited)

June 30, June 30,
CONSOLIDATED STATEMENTS OF CONDITION 2002 2001
- ------------------------------------------------------------------------------------------------------

Assets
Cash and due from banks ......................... $ 29,178,395 $ 29,449,243
Short-term investments........................... 82,516,248 59,875,849
Securities ...................................... 219,335,176 201,819,194
Loans ........................................... 480,210,690 491,545,938
Allowance for loan losses ..................... (4,475,600) (3,936,825)
----------------------------
Loans, net ...................................... 475,735,090 487,609,113
Other assets .................................... 9,172,785 9,260,998
----------------------------
Total assets .................................. 815,937,694 $ 788,014,397
============================

Liabilities and Stockholders' Equity
Deposits:
Noninterest-bearing ........................... $ 140,059,911 $ 130,438,744
Interest-bearing
Demand ..................................... 32,629,697 27,186,518
Savings .................................... 238,567,428 218,283,747
Time ........................................ 159,252,442 155,106,904
----------------------------
Total deposits .................................. 570,509,478 531,015,913
Federal funds purchased and other
short-term borrowings ........................ 109,511,177 120,999,840
Long-term borrowings ........................... 51,600,000 58,000,000
Other liabilities .............................. 2,109,824 2,729,098
Stockholders' equity ........................... 82,207,215 75,269,546
----------------------------
Total liabilities and stockholders' equity .... 815,937,694 $ 788,014,397
============================

Three months ended Six months ended
June 30, June 30,
CONSOLIDATED STATEMENTS OF OPERATION ...... 2002 2001 2002 2001
- ---------------------------------------------------------------------------------------------------

Interest income
Loans .....................................$ 8,307,961 $ 9,974,466 $ 16,561,230 $ 20,449,672
Securities ............................... 2,596,728 3,171,812 4,870,694 7,288,903
Other ..................................... 359,557 913,255 862,228 1,336,149
--------------------------------------------------------
Total interest income ................... 11,264,246 14,059,533 22,294,152 29,074,724
--------------------------------------------------------

Interest expense
Deposits .................................. 2,326,089 4,389,390 4,703,098 9,507,215
Short-term borrowings ..................... 439,316 1,637,884 983,399 3,977,700
Long-term borrowings ..................... 715,907 726,132 1,403,661 1,394,482
--------------------------------------------------------
Total interest expense .................. 3,481,312 6,753,406 7,090,158 14,879,397
--------------------------------------------------------

Net interest income ....................... 7,782,934 7,306,127 15,203,994 14,195,327
Provision for loan losses ................. 230,000 270,000 460,000 462,500
--------------------------------------------------------
Net interest income after provision for
loan losses ............................... 7,552,934 7,036,127 14,743,994 13,732,827
--------------------------------------------------------

Noninterest income
Service charges on deposit accounts ....... 1,115,116 1,170,310 2,118,736 2,112,825
Trust services ............................ 141,657 138,071 299,634 296,476
Other income ............................. 318,008 333,772 642,228 608,310
--------------------------------------------------------
Total noninterest income ................ 1,574,781 1,642,153 3,060,598 3,017,611
--------------------------------------------------------

Noninterest expense
Salaries and employee benefits............. 1,615,329 1,557,168 3,198,812 3,151,968
Occupancy expense ......................... 320,184 290,696 638,718 608,736
Data processing expense ................... 265,519 235,611 530,342 463,553
Other expense ............................ 700,457 561,650 1,306,852 1,084,335
--------------------------------------------------------
Total noninterest expense ............... 2,901,489 2,665,125 5,675,724 5,308,592
--------------------------------------------------------

Income before income taxes ................ 6,226,226 6,013,155 12,128,868 11,441,846
Income taxes ............................. 2,217,299 2,141,750 4,300,640 4,075,253
--------------------------------------------------------
Net income ................................$ 4,008,927 $ 3,871,405 $ 7,828,228 $ 7,366,593
========================================================

PERFORMANCE HIGHLIGHTS
- ---------------------------------------------------------------------------------------------------
Return on average equity .................. 19.92% 20.82% 19.70% 20.30%
Return on average assets .................. 1.97% 1.85% 1.92% 1.78%
Net interest margin ....................... 4.11% 3.81% 4.01% 3.69%
Efficiency ratio .......................... 30.23% 29.12% 30.26% 30.17%

PER COMMON SHARE MARKET INFORMATION*
Net Income Dividends High Low
- ---------------------------------------------------------------------------------------------------
2002
1st quarter ................................. $ 0.24 $ 0.15 $ 14.00 $ 11.50
2nd quarter.................................. 0.25 0.15 18.00 13.15

2001
1st quarter ................................. 0.22 0.15 13.00 10.50
2nd quarter ................................. 0.24 0.15 10.63 9.75
3rd quarter ................................. 0.25 0.15 11.10 9.80
4th quarter ................................. 0.27 0.15 11.95 10.65

*The prices shown are the high and low sale prices for the Company's common,
stock, which trades on the NASDAQ National Market, under the symbol WTBA. The
market quotations, reported by NASDAQ, do not include markup, markdown or
commissions.