West Bancorporation prices $60M 5.25% subordinated notes due 2032

WEST BANCORPORATION INC

Offering of $60 million aggregate principal amount of 5.25% Fixed-to-Floating Rate Subordinated Notes due 2032.
Interest rate fixed at 5.25% through June 15, 2027, then floats at Three-Month Term SOFR plus 241 bps.
Notes redeemable at par on or after June 15, 2027; mature June 15, 2032.
Net proceeds for general corporate purposes and to support organic growth; intended as Tier 2 capital.
Closing expected June 14, 2022; Piper Sandler & Co. acting as sole underwriter.

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