West Bancorporation Inc., the parent company of West Bank in West Des Moines, reported modest growth in the second quarter. Net income rose to $5.1 million, compared with $4.9 million in the previous-year period. For the first half of 2007, net income was $9.6 million, compared with $9.4 million a year ago.

Loans outstanding were down slightly, as several large construction loan payoffs outpaced new loan originations. Total deposits were down $172 million from a year ago as a result of a decrease in wholesale deposits.

WB Capital Management Inc., a subsidiary of West Bancorporation, reported that its revenues were down primarily because of a reduction in the fees on its Vintage Fund mutual funds. Assets under management as of June 30 totaled $4.4 billion, down from $4.5 billion a year ago. However, the company’s expenses were down 3.6 percent from a year ago.

The company’s board of directors declared a cash dividend of 16 cents per share payable on Aug. 15 to shareholders of record on July 30. The company will discuss its second-quarter results in a conference call at 2 p.m. today. To listen, call (877)407-0778.