Exhibit 99.1


July 11, 2003

FOR IMMEDIATE RELEASE

CONTACT:
Doug Gulling, Chief Financial Officer
515-222-2309


West Bancorporation, Inc. Announces Purchase of VMF Capital, L.L.C.
Holding company purchases Iowa's largest independent investment advisor

West Des Moines, IA (July 11, 2003) - West Bancorporation,  Inc., (Nasdaq: WTBA)
has entered into an agreement to purchase VMF Capital, L.L.C. ("VMF Capital").

West  Bancorporation  will pay an  undisclosed  amount of cash to  purchase  the
assets and assume the  liabilities  of VMF  Capital,  which will become a wholly
owned  subsidiary.  The  acquisition  is expected to be accretive to earnings in
2004. The targeted closing date for the acquisition is October 1, 2003,  subject
to applicable regulatory approval.

VMF  Capital - the  largest  independent  investment  advisor in Iowa - provides
portfolio  management services to individuals,  retirement plans,  corporations,
foundations and endowments. The company specializes in domestic equity and fixed
income  strategies and has the ability to customize  strategies to meet specific
investment  objectives.  VMF Capital has 25  employees  in its Cedar  Rapids and
Clive, Iowa, offices and assets under management of approximately $370 million.

"Asset management is an essential part of the financial products and services we
need to provide to our customers," said Thomas E. Stanberry, Chairman, President
and Chief Executive Officer of West Bancorporation.  "A successful asset manager
is based on the quality of its people and its investment performance.  We have a
long  relationship  with VMF  Capital  and are  pleased  with the people and its
investment performance."

"VMF  Capital  wants to align  itself  with a partner  that can  facilitate  the
continued expansion of our business," said Donald E. Flynn, Managing Partner and
CEO of VMF Capital.  "We believe West Bancorporation is the organization in Iowa
that has the reputation and ability to be that partner."

ABOUT WEST BANCORPORATION
West  Bancorporation,  Inc. is headquartered in West Des Moines, Iowa and is the
parent company of West Bank, which has been serving the greater metropolitan Des
Moines area for 110 years.  West Bank focuses on lending,  deposit  services and
trust  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 in central Iowa and a growing  network of ATM's. In April,
West Bank entered into an agreement to purchase Hawkeye State Bank, a commercial
bank with two locations in Iowa City,  Iowa. That  transaction will be completed
July 18.  Thereafter,  total  assets of the  Company  will be  approximately  $1
billion. Visit http://www.westbankiowa.com for more information.


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