West Bank makes appointments

Northwestern Financial Review, Aug 5, 2000

Brad L. Winterbottom was named president and CEO of West Bank in West Des Moines. Winterbottom, an eight-year employee, previously was executive vice president and managed the bank's commercial lending activities.

The bank also named David R. Milligan as executive vice president and general counsel for West Bancorp., the bank's holding company. David L. Miller remains chairman and CEO of the bank and holding company.

In his role as president, Winterbottom will continue as a member of the board of directors and be responsible for the daily operations of the bank.

"Brad has provided excellent leadership in our commercial lending and credit activities," said Miller. "During his tenure, the bank has experienced unprecedented growth and exceptional credit quality. His talents in lending, administration and community involvement will be put to good use as West Bank continues its growth and expansion."

Winterbottom, 43, is a Des Moines native with a degree from the University of Iowa, Iowa City.

Milligan, a 19-year employee, also is a member of the board of directors. He has degrees from Drake University in Des Moines.

In addition, West Bancorp. announced substantial growth during the fiscal year ending June 30. At the close of the second quarter, the bank had assets of $826.3 million, an increase of $97.7 million or 13.2 percent from the previous year. Total loans grew 11.8 percent to $494.4 million.

Second quarter 2000 earnings were $3.8 million or 24 cents per share. For the quarter, the bank reported return on assets of 1.89 percent. Return on equity was 24.50 percent. The bank has an efficiency ratio of 27.95 percent.