WEST BANCORP Discloses $19.8M American Equity Stake in 13F

TL;DR

**WEST BANCORP's 13F shows a big bet on American Equity Life, signaling confidence in the insurance sector.**

AI Summary

WEST BANCORPORATION INC, a state commercial bank based in West Des Moines, IA, filed its 13F-HR on January 26, 2024, for the period ending December 31, 2023. The filing reveals a diverse portfolio of holdings, including significant positions in American Equity Investment Life Holding CO valued at $19,828,028 across 355,341 shares, and Caseys General Stores INC valued at $2,197,920 across 8,000 shares. This matters to investors as it provides transparency into the bank's investment strategy and the types of assets it holds, which can influence its overall financial stability and future performance.

Why It Matters

This filing offers a look into WEST BANCORPORATION INC's investment decisions, showing where they are allocating capital and potentially signaling their market outlook. Understanding these holdings can help investors assess the bank's risk exposure and growth potential.

Risk Assessment

Risk Level: medium — The portfolio shows diversification across many large-cap stocks, but a significant concentration in American Equity Investment Life Holding CO introduces specific sector risk.

Analyst Insight

Investors should monitor the performance of American Equity Investment Life Holding CO and Caseys General Stores INC, as these are significant positions for WEST BANCORPORATION INC. This filing provides a snapshot of their portfolio, but future filings will show if these positions are being maintained, increased, or decreased, offering further insight into the bank's evolving strategy.

Key Numbers

• $19.8M — Value of American Equity Investment Life Holding CO shares (Represents the largest single holding by value in WEST BANCORPORATION INC's portfolio as of December 31, 2023.)
• 355,341 — Shares of American Equity Investment Life Holding CO (Indicates a substantial position in this insurance company, reflecting a key investment decision.)
• $2.2M — Value of Caseys General Stores INC shares (Represents the second largest holding by value, showing another significant investment area for the bank.)
• 8,000 — Shares of Caseys General Stores INC (Highlights the number of shares held in this regional convenience store chain.)
• 12/31/2023 — Conformed Period of Report (This is the snapshot date for all reported holdings, crucial for understanding the timing of these investments.)

Key Players & Entities

• WEST BANCORPORATION INC (company) — filer of the 13F-HR
• American Equity Investment Life Holding CO (company) — largest holding by value in the portfolio
• Caseys General Stores INC (company) — second largest holding by value in the portfolio
• SueAnn Niehaus (person) — Vice President/Trust Operations for WEST BANCORPORATION INC
• $19,828,028 (dollar_amount) — value of American Equity Investment Life Holding CO shares
• 355,341 (dollar_amount) — number of shares held in American Equity Investment Life Holding CO
• $2,197,920 (dollar_amount) — value of Caseys General Stores INC shares
• 8,000 (dollar_amount) — number of shares held in Caseys General Stores INC
• December 31, 2023 (dollar_amount) — conformed period of report end date
• January 26, 2024 (dollar_amount) — filing date

Forward-Looking Statements

• WEST BANCORPORATION INC will likely maintain its significant stake in American Equity Investment Life Holding CO in the near term. (American Equity Investment Life Holding CO) — medium confidence, target: Q1 2024
• The bank's investment strategy will continue to favor a mix of established large-cap companies and specific sector bets. (WEST BANCORPORATION INC) — medium confidence, target: Q2 2024

FAQ

Filing Documents

• primary_doc.html (13F-HR)
• primary_doc.xml (13F-HR) — 2KB
• information_table.html (INFORMATION TABLE)
• information_table.xml (INFORMATION TABLE) — 39KB
• 0001166928-24-000004.txt ( ) — 43KB

From the Filing

SEC FORM 13F-HR The Securities and Exchange Commission has not necessarily reviewed the information in this filing and has not determined if it is accurate and complete. The reader should not assume that the information is accurate and complete. UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 13F FORM 13F COVER PAGE OMB APPROVAL OMB Number: 3235-0006 Estimated average burden hours per response: 23.8 Report for the Calendar Year or Quarter Ended: 12-31-2023 Check here if Amendment    Amendment Number: This Amendment (Check only one.):    is a restatement.    adds new holdings entries. Institutional Investment Manager Filing this Report: Name: WEST BANCORPORATION INC Address: 1601 22ND ST WEST DES MOINES , IA   50266 Form 13F File Number: 028-19827 CRD Number (if applicable): The institutional investment manager filing this report and the person by whom it is signed hereby represent that the person signing the report is authorized to submit it, that all information contained herein is true, correct and complete, and that it is understood that all required items, statements, schedules, lists, and tables, are considered integral parts of this form. Person Signing this Report on Behalf of Reporting Manager: Name: SueAnn Niehaus Title: Vice President/Trust Operations Phone: 515-222-2399 Signature, Place, and Date of Signing: /s/ SueAnn Niehaus West Des Moines ,  IA 01-26-2024 [Signature] [City, State] [Date] Report Type (Check only one.): X 13F HOLDINGS REPORT. (Check here if all holdings of this reporting manager are reported in this report.)    13F NOTICE. (Check here if no holdings reported are in this report, and all holdings are reported by other reporting manager(s).)    13F COMBINATION REPORT. (Check here if a portion of the holdings for this reporting manager are reported in this report and a portion are reported by other reporting manager(s).) Form 13F Summary Page Report Summary: Number of Other Included Managers: 1 Form 13F Information Table Entry Total: 97 Form 13F Information Table Value Total: 154,900,913 (round to nearest dollar) List of Other Included Managers: Provide a numbered list of the name(s) and Form 13F file number(s) of all institutional investment managers with respect to which this report is filed, other than the manager filing this report. [If there are no entries in this list, state “NONE” and omit the column headings and list entries.] No. Name Form 13F File No. CRD No. (if applicable) SEC File No. (if applicable) CIK 1 West Bank

View Full Filing

View this 13F-HR filing on SEC EDGAR