West Bancorporation enters $40M term loan with National Exchange Bank & Trust, matures Feb 2027

WEST BANCORPORATION INC

$40M term loan at floating rate: WSJ Prime minus 1%, floor 2.25%, maturity Feb 5, 2027.
Secured by pledge of all capital stock of subsidiary West Bank.
Quarterly payments begin May 5, 2023; principal due at maturity; prepayment premium for refinancing.
Proceeds to fund capital injection into West Bank and refinance existing loan from same lender.
Financial covenants include minimum CET1 of $250M for bank and minimum ROA of 1.00% (TTM).

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