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United States

West Bancorporation Inc (WTBA.OQ)

WTBA.OQ on NASDAQ Stock Exchange Global Select Market

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20 Jun 2018
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Summary

Name Age Since Current Position

David Milligan

70 2010 Independent Chairman of the Board

David Nelson

57 2010 President, Chief Executive Officer, Director and Chairman, Chief Executive Officer, Director of West Bank

Douglas Gulling

64 2016 Executive Vice President, Treasurer and Chief Financial Officer of the Company; Director, Executive Vice President and Chief Financial Officer of West Bank

Harlee Olafson

60 2011 Executive Vice President and Chief Risk Officer of the Company; Director, Executive Vice President and Chief Risk Officer of West Bank

Brad Winterbottom

61 2011 Executive Vice President; President, Director of West Bank

Steven Gaer

57 2011 Independent Director

Michael Gerdin

48 2013 Independent Director

Kaye Lozier

72 2009 Independent Director

Sean McMurray

50 2013 Independent Director

George Milligan

61 2005 Independent Director

James Noyce

62 2009 Independent Director

Robert Pulver

70 2016 Independent Director

Lou Sandburg

69 2011 Independent Director

Steven Schuler

64 2018 Independent Director

Philip Worth

46 2013 Independent Director

Biographies

Name Description

David Milligan

Mr. David R. Milligan is an Independent Chairman of the Board of West Bancorporation, Inc. Mr. Milligan has served as Chairman of the Board since April 2010. Mr. Milligan joined West Bank in 1980 and served in various capacities, including General Counsel. He retired as Executive Vice President of the Company and as Chairman and Chief Executive Officer of West Bank on December 31, 2004. He served as a director of the Company from 2002 through 2004, and as Vice Chairman of West Bank until December 2006. He was a self-employed attorney and “Of Counsel” with Ahlers & Cooney, P.C. of Des Moines, Iowa, from March 2007 through February 2009. Mr. Milligan resumed part-time employment with West Bank in February 2009 and full-time employment in May 2009. Mr. Milligan was elected interim Chief Executive Officer of the Company and interim Chief Executive Officer and Chairman of West Bank in July 2009 and served in those positions until April 1, 2010. He then served as Executive Vice President of West Bank from April 1, 2010 through April 30, 2010. We consider Mr. Milligan to be a qualified candidate for service on the board and the committee he serves on due to his extensive knowledge of the Company and bank regulatory matters, loan portfolio management and corporate governance.

David Nelson

Mr. David D. Nelson is President, Chief Executive Officer, Director of West Bancorporation, Inc. and Chairman, Chief Executive Officer, Director of West Bank, a subsidiary of West Bancorporation, Inc. He has served as a director of West Bank since 2010. Mr. Nelson joined the Company on April 1, 2010, as Chief Executive Officer and President and as Chairman and Chief Executive Officer of West Bank. Mr. Nelson has more than 30 years of experience in commercial banking. Prior to joining the Company, he was the President of Southeast Minnesota Business Banking and President of Wells Fargo Bank Rochester in Rochester, Minnesota. He has strong backgrounds in customer relationship building, credit and leadership development.

Douglas Gulling

Mr. Douglas R. Gulling is Executive Vice President, Treasurer and Chief Financial Officer of West Bancorporation, Inc. He was a member of the Company's Board from 2009 through April 2011. He also serves as a director (since 2005), Executive Vice President (since 2015) and Chief Financial Officer (since 2002) of West Bank. Mr. Gulling is a Certified Public Accountant (inactive) and has been employed in the banking industry since 1979.

Harlee Olafson

Mr. Harlee N. Olafson is an Executive Vice President, Chief Risk Officer of West Bancorporation, Inc., and Executive Vice President, Chief Risk Officer of West Bank, a subsidiary of West Bancorporation, Inc. He also serves as a director of West Bank (since 2011). Mr. Olafson has more than 35 years of experience in commercial banking. Prior to joining the Company, he was President of Southern Minnesota Business Banking and President of Wells Fargo Bank Mankato in Mankato, Minnesota. He has strong business development, credit and team building backgrounds.

Brad Winterbottom

Mr. Brad L. Winterbottom is an Executive Vice President of West Bancorporation, Inc., and President, Director of West Bank, a subsidiary of West Bancorporation, Inc. He was a member of the Company's Board from 2009 through April 2011. He joined West Bank in 1992 and has served as an executive and policy maker since 1998. He has extensive experience in commercial lending and loan portfolio administration, and knowledge of the Iowa business community. Mr. Winterbottom has been employed in the banking industry since 1981.

Steven Gaer

Mr. Steven K. Gaer is an Independent Director of West Bancorporation, Inc. Mr. Gaer has served as a director of West Bank since 2011. Mr. Gaer is Chief Operating Officer and General Counsel for R&R Realty Group, Iowa’s largest commercial real estate development, management and investment company. He is also currently serving as the Mayor of the City of West Des Moines, Iowa, a position he has held since April 2007. Mr. Gaer is also serving on the following boards: Greater Des Moines Partnership; Regional Economic Development Board; Metropolitan Planning Organization; Des Moines Area Regional Transit Authority; and the County Assessor Boards for Polk, Dallas, Madison and Warren counties. We consider Mr. Gaer to be a qualified candidate for service on the board and on the committee he is a member of due to his extensive knowledge of commercial real estate structuring, development, financing and underwriting.

Michael Gerdin

Mr. Michael J. Gerdin is an Independent Director of West Bancorporation, Inc. Mr. Gerdin has served as a director of West Bank since 2013. Mr. Gerdin is the Chairman, Chief Executive Officer and director of Heartland Express, Inc., which is a publicly traded company that is a short-to-medium haul truckload carrier with corporate headquarters in North Liberty, Iowa. We consider Mr. Gerdin to be a qualified candidate for service on the board and on the committee he is a member of due to his extensive experience as the head of a public company and his familiarity with the eastern Iowa business community.

Kaye Lozier

Mrs. Kaye R. Lozier is Independent Director of West Bancorporation, Inc. She has served as a director of West Bank since 2005. Mrs. Lozier is the owner and President of Lozier Consulting and served as the Director of Donor Relations for the Community Foundation of Greater Des Moines until June 2015. She is involved in the Des Moines area, serving on the Executive Committee of Restoration Ingersoll and Chair of the Terrace Hill Commission.

Sean McMurray

Mr. Sean P. McMurray is an Independent Director of West Bancorporation, Inc. Mr. McMurray has served as a director of West Bank since 2013. Mr. McMurray has served as the Chief Technology Officer of Businessolver, Inc., a human resources benefits administration technology company, a company he helped found in 1998, since May 2017. Mr. McMurray served as Chief Executive Officer of AgSolver, Inc., a technology company, from 2014 until October 2017. Mr. McMurray founded DataVision Resources and served as the Chief Executive Officer for 15 years until DataVision Resources was acquired by Equifax, Inc. in 2011. Mr. McMurray served as a Senior Vice President at Equifax, Inc. until May 2013. Mr. McMurray served as the Chairman of SmartyPig, LLC until its sale in November 2015. Previously, he was the Chief Technology Officer of SmartyPig, LLC and was principally responsible for managing the integration with SmartyPig, LLC partner banks. This included satisfying all regulatory and compliance issues, monitoring risk and security during and after integration, and designing accounting and tax solutions for the financial aspects of SmartyPig, LLC. He helped to build and design the business platforms for Businessolver, Inc. and AgSolver, Inc. We consider Mr. McMurray to be a qualified candidate for service on the board and on the committee he is a member of due to his extensive knowledge and experience as an information technology expert in a wide array of services industries.

George Milligan

Mr. George D. Milligan is an Independent Director of West Bancorporation, Inc. He has served as a director of West Bank since 1994. Mr. Milligan is President of the Graham Group, Inc., a Des Moines, Iowa-based real estate development and investment company. He has extensive knowledge of commercial real estate financing and underwriting. He is also a board member of the public company United Fire & Casualty Company of Cedar Rapids, Iowa.

James Noyce

Mr. James W. Noyce, CPA., is an Independent Director of West Bancorporation, Inc. Mr. Noyce has served as a director of West Bank since 2009. Mr. Noyce has served as Vice Chairman of the Company since April 2017. Mr. Noyce most recently served as the interim Chief Executive Officer of the YMCA of Greater Des Moines from January 2016 until June 2016. Mr. Noyce has over 35 years of experience in the financial services industry, and previously served as the Chief Executive Officer of FBL Financial Group, Inc., a publicly traded financial services company, and Farm Bureau Financial Services Companies from January 2007 through his retirement in April 2009, and Chief Financial Officer of these entities from January 1996 through December 2006. Prior to that, Mr. Noyce held various positions with FBL Financial Group, Inc. and Farm Bureau Financial Services Companies, including Controller and Vice President. He served on the Advisory Committee to Farm Bureau Bank for approximately seven years until May 2009. Mr. Noyce served as the Senior Advisor and Major Gifts Officer for Drake University Athletics from August 2009 to November 2010. Mr. Noyce is also a board member and member of the audit committee, compensation committee and nominating and governance committee of the public company United Fire Group, Inc. of Cedar Rapids, Iowa. He is an audit committee financial expert and serves as Chair of the Audit Committee. Mr. Noyce is a Certified Public Accountant (inactive), a Fellow of the Casualty Actuarial Society and an Associate of the Society of Actuaries. We consider Mr. Noyce to be a qualified candidate for service on the board and the committees he is a member of due to his knowledge and experience with public companies, his extensive financial services industry experience and his education and training as an accountant.

Robert Pulver

Mr. Robert G. Pulver is an Independent Director of the Board of West Bancorporation, Inc. He has served as a director of West Bank since 1981. He also served as Vice Chairman of the Board from July 2009 until April 2014. Mr. Pulver is the President and Chief Executive Officer of All-State Industries, Inc., an industrial rubber products manufacturer, which he founded and has operated for over 40 years.

Lou Sandburg

Mrs. Lou Ann Sandburg is an Independent Director of West Bancorporation, Inc. Mrs. Sandburg has served as a director of West Bank since 2011. Mrs. Sandburg served as Vice President of Investments at FBL Financial Group, Inc., a publicly traded financial services company, from 1998 until her retirement in 2008. From 1980 through 1998, Mrs. Sandburg managed various fixed-income portfolios at FBL Financial Group, Inc. Mrs. Sandburg is a chartered financial analyst. We consider Mrs. Sandburg to be a qualified candidate for service on the board and the committee she is a member of due to her extensive experience at a public company and management of investment portfolios.

Steven Schuler

Mr. Steven T. Schuler is Independent Director of the Company effective January 1, 2018. Mr. Schuler has served as a director of West Bank since January 2018. Mr. Schuler served as an executive officer of the Federal Home Loan Bank of Des Moines (FHLB) from September 2006 through his retirement in January 2017. Mr. Schuler served as Executive Vice President and Chief Financial Officer of FHLB from September 2006 until June 2015; as Executive Vice President, Chief Financial Officer and Chief Operations Officer from June 2015 until June 2016; and Executive Vice President and Chief Operations Officer from June 2016 through his retirement in January 2017. Mr. Schuler had management responsibility for accounting and financial reporting, planning and budgeting, treasury and capital markets, information technology, facilities administration, and business process management. Prior to joining FHLB, Mr. Schuler served in various accounting and financial management positions in the commercial banking and wireless technology industries. From 2001 to 2006, Mr. Schuler served as Chief Financial Officer, Treasurer and Secretary for Iowa Wireless Services, LLC. Mr. Schuler also previously served in various capacities, including Senior Vice President, Chief Financial Officer, Secretary and Treasurer with Brenton Banks, Inc., a publicly traded regional commercial banking company that was sold to Wells Fargo in 2000. Throughout his career, Mr. Schuler has served on the boards of various nonprofit, public service, and industry association organizations. Mr. Schuler is an audit committee financial expert and is a Certified Public Accountant (inactive). We consider Mr. Schuler to be a qualified candidate for service on the board and the committee he is a member of due to his extensive experience with public companis a Certified Public Accountant (inactive) and the Board of Directors has determined that he is an audit committee financial expert as defined by Item 407(d)(5) of Regulation S-K under the Securities Act of 1933.

Philip Worth

Mr. Philip Jason Worth is an Independent Director of West Bancorporation, Inc. Mr. Worth has served as a director of West Bank since 2011. Mr. Worth has worked in the family business, Gilcrest/Jewett Lumber Company, since 1999 and has served in his current role as the General Manager since April 2017 and as Sales Manager previously. Gilcrest/Jewett Lumber Company was founded in 1856, and Mr. Worth represents the sixth generation of ownership. The company supplies building materials to general contractors and homeowners in central and eastern Iowa and employs 305 people at four retail locations. The company focuses on building strong, lasting relationships, extending and managing its own credit, and staying active in the communities it serves. We consider Mr. Worth to be a qualified candidate for service on the board and the committee he is a member of due to his extensive knowledge of the real estate construction industry in the Company’s primary markets. As noted above, with the exception of Mr. Gerdin, who is a director of Heartland Express, Inc., Mr. G. Milligan, who is a director of United Fire Group, Inc.

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