# EDGAR Filing Document

**Accession Number:** 0001166928
**File Stem:** 0001166928-25-000084
**Filing Date:** 2025-10
**Character Count:** 14841
**Document Hash:** 2411a88db540d810db516c3aefc44c4e
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001166928-25-000084.hdr.sgml**: 20251023

**ACCESSION NUMBER**: 0001166928-25-000084

**CONFORMED SUBMISSION TYPE**: 13F-HR

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20250930

**FILED AS OF DATE**: 20251023

**DATE AS OF CHANGE**: 20251023

**EFFECTIVENESS DATE**: 20251023

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** WEST BANCORPORATION INC
- **CENTRAL INDEX KEY:** 0001166928
- **STANDARD INDUSTRIAL CLASSIFICATION:** STATE COMMERCIAL BANKS [6022]
- **ORGANIZATION NAME:** 02 Finance
- **EIN:** 421230603
- **STATE OF INCORPORATION:** IA
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** 13F-HR
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 028-19827
- **FILM NUMBER:** 251412039

**BUSINESS ADDRESS:**
- **STREET 1:** 3330 WESTOWN PARKWAY
- **CITY:** WEST DES MOINES
- **STATE:** IA
- **ZIP:** 50266
- **BUSINESS PHONE:** 5152222309

**MAIL ADDRESS:**
- **STREET 1:** 3330 WESTOWN PARKWAY
- **CITY:** WEST DES MOINES
- **STATE:** IA
- **ZIP:** 50266

### FORM 13F COVER PAGE

**Report for the Calendar Year or Quarter Ended:** 09-30-2025

**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<br>**Address:** 3330 Westown Parkway<br>WEST DES MOINES, IA 50266

**Form 13F File Number:** 028-19827

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<br>**Title:** Vice President/Trust Operations<br>**Phone:** 515-222-2399

**Signature, Place, and Date of Signing:**

/s/ SueAnn Niehaus  West Des Moines, IA  10-23-2025<br>[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 are reported 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:** 110

**Form 13F Information Table Value Total:** $179854603

      (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 Number   |
|:---|:---|:---|
|  | West Bank |  |

### FORM 13F INFORMATION TABLE

---

|  |  |  |  |  |  |  |  |  |  |  |  |  |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| NAME OF ISSUER | TITLE OF CLASS | CUSIP | FIGI | VALUE (x$1000) | SHRS OR PRN AMT | SH/PRN | PUT/CALL | INVESTMENT DISCRETION | OTHER MANAGER | VOTING AUTHORITY | VOTING AUTHORITY | VOTING AUTHORITY |
| NAME OF ISSUER | TITLE OF CLASS | CUSIP | FIGI | VALUE (x$1000) | SHRS OR PRN AMT | SH/PRN | PUT/CALL | INVESTMENT DISCRETION | OTHER MANAGER | SOLE | SHARED | NONE |
| Abbott Laboratories | COM | 002824100 |  | 634206 | 4735 | SH |  | DFND | 1 | 4735 | 0 | 0 |
| Abbvie INC | COM | 00287Y109 |  | 1261893 | 5450 | SH |  | DFND | 1 | 5450 | 0 | 0 |
| Adams Diversified Equity FD | COM | 006212104 |  | 804807 | 36090 | SH |  | DFND | 1 | 36090 | 0 | 0 |
| Alphabet INC | CAP STK CL A | 02079K305 |  | 464807 | 1912 | SH |  | DFND | 1 | 1912 | 0 | 0 |
| Alphabet INC | CAP STK CL C | 02079K107 |  | 1621556 | 6658 | SH |  | DFND | 1 | 6658 | 0 | 0 |
| Altria Group INC | COM | 02209S103 |  | 430447 | 6516 | SH |  | DFND | 1 | 6516 | 0 | 0 |
| Amazon com INC | COM | 023135106 |  | 1265821 | 5765 | SH |  | DFND | 1 | 5765 | 0 | 0 |
| American Electric Power Company INC | COM | 025537101 |  | 298013 | 2649 | SH |  | DFND | 1 | 2649 | 0 | 0 |
| Amphenol Corp  A | CL A | 032095101 |  | 434981 | 3515 | SH |  | DFND | 1 | 3515 | 0 | 0 |
| Apple INC | COM | 037833100 |  | 4359011 | 17119 | SH |  | DFND | 1 | 17119 | 0 | 0 |
| Archer Daniels Midland CO | COM | 039483102 |  | 204848 | 3429 | SH |  | DFND | 1 | 3429 | 0 | 0 |
| Arista Networks Inc Ordinary Shares | COM SHS | 040413205 |  | 203411 | 1396 | SH |  | DFND | 1 | 1396 | 0 | 0 |
| AT INC | COM | 00206R102 |  | 237160 | 8398 | SH |  | DFND | 1 | 8398 | 0 | 0 |
| Berkshire Hathaway INC | CL B NEW | 084670702 |  | 843598 | 1678 | SH |  | DFND | 1 | 1678 | 0 | 0 |
| Brookfield Asset Management Ltd Mngmt  A | CL A LMT VTG SHS | 113004105 |  | 5300602 | 93091 | SH |  | DFND | 1 | 93091 | 0 | 0 |
| Cadence  Design  Systems Inc | COM | 127387108 |  | 255015 | 726 | SH |  | DFND | 1 | 726 | 0 | 0 |
| Caseys General Stores INC | COM | 147528103 |  | 223867 | 396 | SH |  | DFND | 1 | 396 | 0 | 0 |
| Chemed Corp New | COM | 16359R103 |  | 291031 | 650 | SH |  | DFND | 1 | 650 | 0 | 0 |
| Chevron Corp | COM | 166764100 |  | 345676 | 2226 | SH |  | DFND | 1 | 2226 | 0 | 0 |
| Cisco Systems INC | COM | 17275R102 |  | 719094 | 10510 | SH |  | DFND | 1 | 10510 | 0 | 0 |
| Corteva INC | COM | 22052L104 |  | 292838 | 4330 | SH |  | DFND | 1 | 4330 | 0 | 0 |
| Costco Wholesale Corp | COM | 22160K105 |  | 1231088 | 1330 | SH |  | DFND | 1 | 1330 | 0 | 0 |
| DBX ETF TR | XTRACKRS S 500 | 233051143 |  | 242221 | 4035 | SH |  | DFND | 1 | 4035 | 0 | 0 |
| Eli Lilly And CO | COM | 532457108 |  | 563094 | 738 | SH |  | DFND | 1 | 738 | 0 | 0 |
| Eog Resources INC | COM | 26875P101 |  | 265500 | 2368 | SH |  | DFND | 1 | 2368 | 0 | 0 |
| Exxon Mobil Corp | COM | 30231G102 |  | 283566 | 2515 | SH |  | DFND | 1 | 2515 | 0 | 0 |
| Factset Resh Sys Inc | COM | 303075105 |  | 267009 | 932 | SH |  | DFND | 1 | 932 | 0 | 0 |
| Fastenal Co | COM | 311900104 |  | 504524 | 10288 | SH |  | DFND | 1 | 10288 | 0 | 0 |
| First Trust Enhanced Equity Income Fund | COM | 337318109 |  | 260306 | 12096 | SH |  | DFND | 1 | 12096 | 0 | 0 |
| Fiserv INC | COM | 337738108 |  | 202936 | 1574 | SH |  | DFND | 1 | 1574 | 0 | 0 |
| Flexshares TR | QLT DIV DEF IDX | 33939L845 |  | 213078 | 2664 | SH |  | DFND | 1 | 2664 | 0 | 0 |
| Generac Holdings INC | COM | 368736104 |  | 220968 | 1320 | SH |  | DFND | 1 | 1320 | 0 | 0 |
| Goldman Sachs Equity Etf | ACTIVEBETA US LG | 381430503 |  | 502751 | 3859 | SH |  | DFND | 1 | 3859 | 0 | 0 |
| Honeywell International INC | COM | 438516106 |  | 314066 | 1492 | SH |  | DFND | 1 | 1492 | 0 | 0 |
| Hp INC | COM | 40434L105 |  | 234124 | 8598 | SH |  | DFND | 1 | 8598 | 0 | 0 |
| International Business Machines Corp | COM | 459200101 |  | 441580 | 1565 | SH |  | DFND | 1 | 1565 | 0 | 0 |
| Intuit | COM | 461202103 |  | 235604 | 345 | SH |  | DFND | 1 | 345 | 0 | 0 |
| Invesco Exch Traded FD TR II | S PUR GWT | 46137V266 |  | 873276 | 18300 | SH |  | DFND | 1 | 18300 | 0 | 0 |
| Invesco Exchange Traded FD T | RAFI US 1000 ETF | 46137V613 |  | 636647 | 14082 | SH |  | DFND | 1 | 14082 | 0 | 0 |
| Invesco Exchange Traded FD T | S EQL WGT | 46137V357 |  | 584845 | 3083 | SH |  | DFND | 1 | 3083 | 0 | 0 |
| Invesco Qqq Trust | UNIT SER 1 | 46090E103 |  | 2043059 | 3403 | SH |  | DFND | 1 | 3403 | 0 | 0 |
| Ishares Gold Trust | ISHARES NEW | 464285204 |  | 288242 | 3961 | SH |  | DFND | 1 | 3961 | 0 | 0 |
| ISHARES TR | INTL SEL DIV ETF | 464288448 |  | 257275 | 7039 | SH |  | DFND | 1 | 7039 | 0 | 0 |
| ISHARES Tr | S MC 400GR ETF | 464287606 |  | 254684 | 2656 | SH |  | DFND | 1 | 2656 | 0 | 0 |
| ISHARES Tr | CORE S SCP ETF | 464287804 |  | 337358 | 2839 | SH |  | DFND | 1 | 2839 | 0 | 0 |
| ISHARES Tr | MSCI EAFE ETF | 464287465 |  | 530715 | 5684 | SH |  | DFND | 1 | 5684 | 0 | 0 |
| ISHARES Tr | CORE S TTL STK | 464287150 |  | 667514 | 4583 | SH |  | DFND | 1 | 4583 | 0 | 0 |
| Ishares TR | CORE MSCI EAFE | 46432F842 |  | 1496493 | 17140 | SH |  | DFND | 1 | 17140 | 0 | 0 |
| ISHARES Tr | RUSSELL 2000 ETF | 464287655 |  | 2963284 | 12247 | SH |  | DFND | 1 | 12247 | 0 | 0 |
| ISHARES Tr | RUS MID CAP ETF | 464287499 |  | 8455366 | 87575 | SH |  | DFND | 1 | 87575 | 0 | 0 |
| ISHARES Tr | CORE S ETF | 464287200 |  | 8937832 | 13354 | SH |  | DFND | 1 | 13354 | 0 | 0 |
| ISHARES Tr | RUS 1000 VAL ETF | 464287598 |  | 12761836 | 62684 | SH |  | DFND | 1 | 62684 | 0 | 0 |
| ISHARES Tr | RUS 1000 GRW ETF | 464287614 |  | 14148792 | 30206 | SH |  | DFND | 1 | 30206 | 0 | 0 |
| J P MORGAN Exchange Traded  F | EQUITY PREMIUM | 46641Q332 |  | 722315 | 12650 | SH |  | DFND | 1 | 12650 | 0 | 0 |
| Johnson  Johnson | COM | 478160104 |  | 320777 | 1730 | SH |  | DFND | 1 | 1730 | 0 | 0 |
| JPMORGAN Chase  CO | COM | 46625H100 |  | 2120320 | 6722 | SH |  | DFND | 1 | 6722 | 0 | 0 |
| L3harris Technologies INC | COM | 502431109 |  | 281893 | 923 | SH |  | DFND | 1 | 923 | 0 | 0 |
| Lam Research Corp. | COM NEW | 512807306 |  | 313192 | 2339 | SH |  | DFND | 1 | 2339 | 0 | 0 |
| Mastercard INC | CL A | 57636Q104 |  | 363470 | 639 | SH |  | DFND | 1 | 639 | 0 | 0 |
| Mcdonalds Corp | COM | 580135101 |  | 1021678 | 3362 | SH |  | DFND | 1 | 3362 | 0 | 0 |
| Meta Platforms INC  A | CL A | 30303M102 |  | 1412213 | 1923 | SH |  | DFND | 1 | 1923 | 0 | 0 |
| Microsoft Corp | COM | 594918104 |  | 4774463 | 9218 | SH |  | DFND | 1 | 9218 | 0 | 0 |
| Mondelez International INC | CL A | 609207105 |  | 209587 | 3355 | SH |  | DFND | 1 | 3355 | 0 | 0 |
| Nushares ETF Tr | NUVEEN ESG SMLCP | 67092P607 |  | 352183 | 7986 | SH |  | DFND | 1 | 7986 | 0 | 0 |
| Nvidia Corp | COM | 67066G104 |  | 1634254 | 8759 | SH |  | DFND | 1 | 8759 | 0 | 0 |
| Pacer FDS Tr | US CASH COWS 100 | 69374H881 |  | 307752 | 5355 | SH |  | DFND | 1 | 5355 | 0 | 0 |
| Pacer FDS TR | US SMALL CAP CAS | 69374H857 |  | 809054 | 18480 | SH |  | DFND | 1 | 18480 | 0 | 0 |
| Pepsico INC | COM | 713448108 |  | 739417 | 5265 | SH |  | DFND | 1 | 5265 | 0 | 0 |
| Pfizer INC | COM | 717081103 |  | 543998 | 21350 | SH |  | DFND | 1 | 21350 | 0 | 0 |
| Philip Morris International INC | COM | 718172109 |  | 262277 | 1617 | SH |  | DFND | 1 | 1617 | 0 | 0 |
| Principal Financial Group INC | COM | 74251V102 |  | 879675 | 10610 | SH |  | DFND | 1 | 10610 | 0 | 0 |
| Procter  Gamble CO | COM | 742718109 |  | 523947 | 3410 | SH |  | DFND | 1 | 3410 | 0 | 0 |
| Public Service Enterprise Group INC | COM | 744573106 |  | 253635 | 3039 | SH |  | DFND | 1 | 3039 | 0 | 0 |
| Pure Storage INC  A | CL A | 74624M102 |  | 360299 | 4299 | SH |  | DFND | 1 | 4299 | 0 | 0 |
| Ross Stores INC | COM | 778296103 |  | 524069 | 3439 | SH |  | DFND | 1 | 3439 | 0 | 0 |
| S Global INC | COM | 78409V104 |  | 211232 | 434 | SH |  | DFND | 1 | 434 | 0 | 0 |
| Schwab Strategic Trust | US DIVIDEND EQ | 808524797 |  | 1419354 | 51991 | SH |  | DFND | 1 | 51991 | 0 | 0 |
| Select Sector SPDR TR | TECHNOLOGY | 81369Y803 |  | 322730 | 1145 | SH |  | DFND | 1 | 1145 | 0 | 0 |
| Servicenow INC | COM | 81762P102 |  | 294490 | 320 | SH |  | DFND | 1 | 320 | 0 | 0 |
| Southern CO | COM | 842587107 |  | 785169 | 8285 | SH |  | DFND | 1 | 8285 | 0 | 0 |
| SPDR Gold Trust | GOLD SHS | 78463V107 |  | 332009 | 934 | SH |  | DFND | 1 | 934 | 0 | 0 |
| SPDR S 500 EFT Trust | TR UNIT | 78462F103 |  | 8444498 | 12676 | SH |  | DFND | 1 | 12676 | 0 | 0 |
| SPDR SER TR | S DIVID ETF | 78464A763 |  | 411047 | 2935 | SH |  | DFND | 1 | 2935 | 0 | 0 |
| Spotify Technology S A | SHS | L8681T102 |  | 409028 | 586 | SH |  | DFND | 1 | 586 | 0 | 0 |
| Tractor Supply Co | COM | 892356106 |  | 221167 | 3889 | SH |  | DFND | 1 | 3889 | 0 | 0 |
| Uber Technologies INC | COM | 90353T100 |  | 328395 | 3352 | SH |  | DFND | 1 | 3352 | 0 | 0 |
| Vanguard Admiral FDS INC | 500 VAL IDX FD | 921932703 |  | 688172 | 3450 | SH |  | DFND | 1 | 3450 | 0 | 0 |
| Vanguard Financials Etf | FINANCIALS ETF | 92204A405 |  | 200797 | 1530 | SH |  | DFND | 1 | 1530 | 0 | 0 |
| Vanguard Index FDS | VALUE ETF | 922908744 |  | 2696459 | 14459 | SH |  | DFND | 1 | 14459 | 0 | 0 |
| Vanguard Index FDS | MID CAP ETF | 922908629 |  | 2959137 | 10074 | SH |  | DFND | 1 | 10074 | 0 | 0 |
| Vanguard Index FDS | GROWTH ETF | 922908736 |  | 4975474 | 10374 | SH |  | DFND | 1 | 10374 | 0 | 0 |
| Vanguard Index FDS | SMALL CP ETF | 922908751 |  | 5758425 | 22646 | SH |  | DFND | 1 | 22646 | 0 | 0 |
| Vanguard Index FDS | S 500 ETF SHS | 922908363 |  | 9703773 | 15846 | SH |  | DFND | 1 | 15846 | 0 | 0 |
| Vanguard Intl Equity Index F | ALLWRLD EX US | 922042775 |  | 1975093 | 27674 | SH |  | DFND | 1 | 27674 | 0 | 0 |
| Vanguard Mid-cap Growth Index Fund Mid Cap Etf | MCAP GR IDXVIP | 922908538 |  | 695401 | 2367 | SH |  | DFND | 1 | 2367 | 0 | 0 |
| Vanguard Mid-cap Value Index Fund Mid Cap Etf | MCAP VL IDXVIP | 922908512 |  | 371855 | 2130 | SH |  | DFND | 1 | 2130 | 0 | 0 |
| Vanguard Small Cap Value Etf | SM CP VAL ETF | 922908611 |  | 203701 | 976 | SH |  | DFND | 1 | 976 | 0 | 0 |
| Vanguard Small-cap Growth Index Fund Small Cap Etf | SML CP GRW ETF | 922908595 |  | 395239 | 1328 | SH |  | DFND | 1 | 1328 | 0 | 0 |
| Vanguard specialized Funds | DIV APP ETF | 921908844 |  | 2466048 | 11428 | SH |  | DFND | 1 | 11428 | 0 | 0 |
| Vanguard Tax-Managed FDS | VAN FTSE DEV MKT | 921943858 |  | 4372063 | 72965 | SH |  | DFND | 1 | 72965 | 0 | 0 |
| Vanguard Whitehall FDS | INTL HIGH ETF | 921946794 |  | 7852038 | 92726 | SH |  | DFND | 1 | 92726 | 0 | 0 |
| Vanguard Whitehall FDS | HIGH DIV YLD | 921946406 |  | 9398405 | 66679 | SH |  | DFND | 1 | 66679 | 0 | 0 |
| Vanguard World FD | CONSUM DIS ETF | 92204A108 |  | 269382 | 680 | SH |  | DFND | 1 | 680 | 0 | 0 |
| Vici Properties INC | COM | 925652109 |  | 224618 | 6888 | SH |  | DFND | 1 | 6888 | 0 | 0 |
| Visa INC | COM CL A | 92826C839 |  | 291880 | 855 | SH |  | DFND | 1 | 855 | 0 | 0 |
| Walmart INC | COM | 931142103 |  | 698438 | 6777 | SH |  | DFND | 1 | 6777 | 0 | 0 |
| Walt Disney CO | COM | 254687106 |  | 203810 | 1780 | SH |  | DFND | 1 | 1780 | 0 | 0 |
| Wells Fargo CO | COM | 949746101 |  | 840212 | 10024 | SH |  | DFND | 1 | 10024 | 0 | 0 |
| West Bancorporation INC | CAP STK | 95123P106 |  | 8624560 | 424437 | SH |  | DFND | 1 | 424437 | 0 | 0 |
| Wisdomtree TR | US MIDCAP DIVID | 97717W505 |  | 367721 | 7031 | SH |  | DFND | 1 | 7031 | 0 | 0 |

---