David Welch

David Welch, a Private Investor, asked about the potential knock-on effects of distress in the farming community, specifically regarding declining soybean and corn prices, on West Bancorporation's operations. He also sought a medium-term assessment of West Bancorporation's Minnesota growth venture, inquiring about its performance and contribution to the company since its inception.

Answer

Harlee Olafson, Chief Risk Officer, explained that while farm-generated dollars would decrease, West Bancorporation is somewhat insulated as most customers are not direct agricultural manufacturers, though some supply parts to the industry. Brad Peters, Minnesota Group President, stated that the Minnesota growth venture has exceeded expectations, with all markets contributing to the bottom line and now accounting for approximately one-third of the company's overall business.

David Welch, a Private Investor and Principal at River Oaks, asked about the potential indirect impact of distress in the farming community on West Bancorporation's business. He also sought a medium-term assessment of the performance and contribution of the company's Minnesota growth venture.

Answer

Harlee Olafson, Chief Risk Officer, explained that West Bancorporation is somewhat insulated from direct agricultural distress, as most customers are not specific ag manufacturers, though some supply related industries. Brad Peters, Minnesota Group President, stated that the Minnesota growth venture has exceeded expectations, now accounting for approximately one-third of the company's business and growing at a reasonable pace.