West Bancorporation Inc. announced yesterday that it has redeemed all $36 million of the preferred stock it sold to the U.S. Treasury on Dec. 31, 2008, under the Capital Purchase Program, which is part of the Troubled Assets Relief Program (TARP).

David Nelson, president and CEO of the company, said in a press release that it was a wise decision for West Bank to participate in TARP: “Since then we have navigated through some tough financial storms, and now we are confident of our future without government investors.”

Nelson said the company has paid $4.49 million in dividends to the Treasury since entering TARP.