West Bancorp To Sell Off Asset Management Unit

Law360, New York (October 2, 2009, 3:03 PM EDT) -- Des Moines, Iowa-based West Bancorporation Inc. has agreed to sell its WB Capital Management Inc. subsidiary, which manages more than $4.6 billion in assets, to Miles Capital Holdings Inc. in a stock purchase transaction, the companies announced Friday.

The parties have not disclosed the purchase price, but said they expected the sale of the wholly owned subsidiary to close by the end of the year once it receives approval from enough of WB Capital's clients.

"We are delighted to have this opportunity to once again serve...
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