"SAFE HARBOR" STATEMENT UNDER THE PRIVATE SECURITIES LITIGATION REFORM ACT

The information contained in this report may contain forward-looking statements about the Company's growth and acquisition strategies, new products and services, and future financial performance, including earnings and dividends per share, return on average assets, return on average equity, efficiency ratio and capital ratios. Certain statements in this report constitute "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995, including statements preceded by, followed by or that include the words "believes," "expects," "intends," "should," or "anticipates," or similar references or references to estimates or similar expressions. Such forward-looking statements are based upon certain underlying assumptions, risks and uncertainties. Because of the possibility of change in the underlying assumptions, actual results could differ materially from these forward-looking statements. Risks and uncertainties that may affect future results include:
interest rate risk; competitive pressures; pricing pressures on loans and deposits; changes in credit and other risks posed by the Company's loan and investment portfolios, including declines in commercial or residential real estate values or changes in the allowance for loan losses dictated by new market conditions or regulatory requirements; actions of bank and non-bank competitors; changes in local and national economic conditions; changes in regulatory requirements, including actions of the Securities and Exchange Commission and/or the Federal Reserve Board; changes in the Treasury's Capital Purchase Program; and customers' acceptance of the Company's products and services. The Company undertakes no obligation to revise or update such forward-looking statements to reflect current events or circumstances after the date hereof or to reflect the occurrence of unanticipated events.

THREE AND SIX MONTHS ENDED JUNE 30, 2009
(dollars in thousands, except per share amounts)

OVERVIEW

The following discussion describes the consolidated operations of the Company, including West Bank, West Bank's wholly-owned subsidiary, WB Funding Corporation, West Bank's 99.9 percent owned subsidiary ICD IV, LLC, and WB Capital Management Inc. (WB Capital). Consolidated results of operations for the three and six months ended June 30, 2009, are compared to the results for the same periods in 2008 and the consolidated financial condition of the Company at June 30, 2009, is compared to the December 31, 2008, position.

Net loss for the three months ended June 30, 2009, was $(22,279) compared to net income of $4,514 for the three months ended June 30, 2008. Basic and diluted earnings (loss) per common share were ($1.32) and $0.26, respectively, for the same periods. The Company's annualized return on average equity and return on average assets for the three months ended June 30, 2009, were (58.33) percent and (5.10) percent, respectively, compared to 15.23 percent and 1.39 percent, respectively, for the three months ended June 30, 2008.

Results for the three months ended June 30, 2009, were $26,793 lower than the same period last year due to goodwill impairment of $23,036 ($16,997 net of tax) and a $14,000 increase in provision for loan losses. Goodwill impairment was reviewed during the second quarter of 2009 because the Company's stock traded at a market price of less than it's per share book value. The analysis resulted in management's decision to record a goodwill impairment charge of $13,376 for all of West Bank's goodwill balance and a charge of $9,660 for WB Capital. The increase in provision for loan losses was attributed to $9,353 of net charge-offs during the second quarter of 2009 and the continued economic downturn which has negatively affected West Bank's customers. In addition, other noninterest expenses were $1,053 higher than in the three months ended June 30, 2008, primarily due to increased FDIC insurance expenses, including a special assessment of $695.

For the first six months of 2009, net loss was $(19,338) compared to net income of $5,888 for the first six months of 2008. Basic and diluted earnings (loss) per common share were ($1.18) and $0.34, respectively. The annualized return on average equity and return on average assets for the six months ended June 30, 2009, were (25.54) percent and (2.34) percent, respectively, compared to 9.83 percent and 0.90 percent, respectively, for the six months ended June 30, 2008.

The difference between the year-to-date net loss in 2009 and the 2008 net income was due in substantial part to the goodwill impairment discussed above and the $11,900 increase in provision for loan losses.

Year-to-date noninterest income was $29 lower than last year due to declines in investment advisory fees of $889 and a $254 decline in service charges on deposit accounts. Offsetting these reductions was $840 of proceeds received in the first quarter of 2009 from a bank-owned life insurance policy due to the death of a West Bank officer, an increase of $315 in gains and fees on the sale of residential mortgages sold into the secondary market, and a $117 increase in debit card fees.

Noninterest expense (exclusive of goodwill impairment) increased $1,791, or 13.0 percent in the first six months of 2009 compared to 2008. The growth in noninterest expense included a $1,551 increase in FDIC insurance expense, a $304 increase in occupancy expense, and a $339 increase in deposit operations expense. The increases were somewhat offset by a $393 decline in salaries and benefits and a $131 reduction in marketing expenses.

WB Capital's year-to-date net loss was $(8,532) for the six months ended June 30, 2009 compared to net income of $274 for the same period in 2008. The loss was the result of $9,660 (net of tax $8,720) of goodwill impairment recorded at WB Capital during the 2009 second quarter. Revenues were lower than a year ago because of the severe decline in stock values and lower levels of assets under management. Operating expenses (exclusive of goodwill impairment) were $744 lower during the first half of 2009 compared to the same 2008 period. This was accomplished through a concerted effort to reduce operating costs. WB Capital's net loss for the three months ended June 30, 2009, was $(8,536) compared to net income of $139 in the same period of 2008 due to the reasons mentioned previously.

RESULTS OF OPERATIONS

The following table shows selected financial results and measures for the three
and six months ended June 30, 2009, compared with the same periods in 2008.

                                               Three Months Ended June 30,                                  Six Months Ended June 30,
                                    2009            2008          Change       Change %         2009            2008          Change       Change %
Net income (loss)                $   (22,279 )   $     4,514     $ (26,793 )      -593.6 %   $   (19,338 )   $     5,888     $ (25,226 )      -428.4 %
Average assets                     1,753,534       1,302,161       451,373          34.7 %     1,668,246       1,312,684       355,562          27.1 %
Average stockholders' equity         153,203         119,178        34,025          28.5 %       152,673         120,444        32,229          26.8 %

Return on assets                       -5.10 %          1.39 %       -6.49 %                       -2.34 %          0.90 %       -3.24 %

Return on equity                      -58.33 %         15.23 %      -73.56 %                      -25.54 %          9.83 %      -35.37 %

Efficiency ratio                      212.65 %         47.05 %      165.60 %                      130.59 %         47.25 %       83.34 %

Dividend payout ratio                  -0.78 %         61.69 %      -62.47 %                       -8.10 %         94.59 %     -102.69 %

Average equity to average
assets ratio                            8.74 %          9.15 %       -0.41 %                        9.15 %          9.18 %       -0.03 %

Equity to assets ratio -
at end of period                                                                                    8.50 %          8.61 %       -0.11 %

Tangible common equity ratio -
end of period                                                                                       6.08 %          6.79 %       -0.71 %

Definitions of ratios:

Return on assets - annualized net income (loss) divided by average assets.

Return on equity - annualized net income (loss) divided by average stockholders' equity.

Efficiency ratio - noninterest expense divided by noninterest income (excluding securities gains) plus taxable equivalent net interest income.

Dividend payout ratio - dividends paid divided by net income (loss).

Equity to assets ratio - equity divided by assets.

Tangible common equity ratio - common equity less intangible assets divided by tangible assets.

Net Interest Income

The following tables show average balances and related interest income or interest expense, with the resulting average yield or rate by category of interest-earning assets or interest-bearing liabilities. Interest income and the resulting net interest income are shown on a fully taxable basis.

Data for the three months ended June 30:

                                                  Average Balance                                     Interest Income/Expense                          Yield/Rate
                                 2009            2008          Change       Change-%        2009         2008       Change      Change-%       2009       2008      Change
Interest-earning assets:
Loans:
Commercial                    $   411,466     $   367,983     $  43,483         11.82 %   $  4,967     $  5,175     $  (208 )       -4.02 %     4.84 %     5.66 %     -0.82 %
Real estate                       707,689         641,854        65,835         10.26 %     10,151       10,034         117          1.17 %     5.75 %     6.29 %     -0.54 %
Consumer and other                 10,840          14,537        (3,697 )      -25.43 %        172          219         (47 )      -21.46 %     6.37 %     6.07 %      0.30 %
Total loans                     1,129,995       1,024,374       105,621         10.31 %     15,290       15,428        (138 )       -0.89 %     5.43 %     6.06 %     -0.63 %

Investment securities:
Taxable                           107,770          84,022        23,748         28.26 %        935        1,070        (135 )      -12.62 %     3.47 %     5.09 %     -1.62 %
Tax-exempt                         97,650          87,808         9,842         11.21 %      1,503        1,249         254         20.34 %     6.15 %     5.69 %      0.46 %
Total investment securities       205,420         171,830        33,590         19.55 %      2,438        2,319         119          5.13 %     4.75 %     5.40 %     -0.65 %

Federal funds sold and
short-term investments            320,865          13,565       307,300       2265.39 %        208           75         133        177.33 %     0.26 %     2.23 %     -1.97 %
Total interest-earning
assets                        $ 1,656,280     $ 1,209,769     $ 446,511         36.91 %     17,936       17,822         114          0.64 %     4.34 %     5.92 %     -1.58 %

Interest-bearing
liabilities:
Deposits:
Checking with interest,
savings
and money markets             $   555,565     $   324,312     $ 231,253         71.31 %      1,818        1,159         659         56.86 %     1.31 %     1.44 %     -0.13 %
Time deposits                     580,781         354,778       226,003         63.70 %      3,486        3,379         107          3.17 %     2.41 %     3.83 %     -1.42 %
Total deposits                  1,136,346         679,090       457,256         67.33 %      5,304        4,538         766         16.88 %     1.87 %     2.69 %     -0.82 %
Other borrowed funds              250,197         309,531       (59,334 )      -19.17 %      1,772        2,557        (785 )      -30.70 %     2.84 %     3.32 %     -0.48 %
Total interest-bearing
liabilities                   $ 1,386,543     $   988,621     $ 397,922         40.25 %      7,076        7,095         (19 )       -0.27 %     2.05 %     2.89 %     -0.84 %

Tax-equivalent net interest
income                                                                                    $ 10,860     $ 10,727     $   133          1.24 %
Net interest spread                                                                                                                             2.29 %     3.03 %     -0.74 %
Net interest margin                                                                                                                             2.63 %     3.56 %     -0.93 %

Data for the six months ended June 30:

                                                  Average Balance                                     Interest Income/Expense                           Yield/Rate
                                 2009            2008          Change       Change-%        2009         2008        Change      Change-%       2009       2008      Change
Interest-earning assets:
Loans:
Commercial                    $   404,177     $   364,130     $  40,047         11.00 %   $  9,718     $ 11,048     $ (1,330 )      -12.04 %     4.85 %     6.10 %     -1.25 %
Real estate                       707,643         634,060        73,583         11.61 %     20,403       20,412           (9 )       -0.04 %     5.81 %     6.47 %     -0.66 %
Consumer and other                 11,284          14,113        (2,829 )      -20.05 %        356          455          (99 )      -21.76 %     6.36 %     6.49 %     -0.13 %
Total loans                     1,123,104       1,012,303       110,801         10.95 %     30,477       31,915       (1,438 )       -4.51 %     5.47 %     6.34 %     -0.87 %

Investment securities:
Taxable                            97,163         101,825        (4,662 )       -4.58 %      1,766        2,547         (781 )      -30.66 %     3.63 %     5.00 %     -1.37 %
Tax-exempt                         96,413          86,802         9,611         11.07 %      2,967        2,442          525         21.50 %     6.15 %     5.63 %      0.52 %
Total investment securities       193,576         188,627         4,949          2.62 %      4,733        4,989         (256 )       -5.13 %     4.89 %     5.29 %     -0.40 %

Federal funds sold and
short-term investments            257,725          18,403       239,322       1300.45 %        311          235           76         32.34 %     0.24 %     2.57 %     -2.33 %
Total interest-earning
assets                        $ 1,574,405     $ 1,219,333     $ 355,072         29.12 %     35,521       37,139       (1,618 )       -4.36 %     4.54 %     6.12 %     -1.58 %

Interest-bearing
liabilities:
Deposits:
Checking with interest,
savings
and money markets             $   449,106     $   325,787     $ 123,319         37.85 %      2,679        2,942         (263 )       -8.94 %     1.20 %     1.82 %     -0.62 %
Time deposits                     617,138         365,820       251,318         68.70 %      7,891        7,568          323          4.27 %     2.58 %     4.16 %     -1.58 %
Total deposits                  1,066,244         691,607       374,637         54.17 %     10,570       10,510           60          0.57 %     2.00 %     3.06 %     -1.06 %
Other borrowed funds              246,252         307,957       (61,705 )      -20.04 %      3,531        5,572       (2,041 )      -36.63 %     2.89 %     3.64 %     -0.75 %
Total interest-bearing
liabilities                   $ 1,312,496     $   999,564     $ 312,932         31.31 %     14,101       16,082       (1,981 )      -12.32 %     2.17 %     3.24 %     -1.07 %

Tax-equivalent net interest
income                                                                                    $ 21,420     $ 21,057     $    363          1.72 %
Net interest spread                                                                                                                              2.37 %     2.88 %     -0.51 %
Net interest margin                                                                                                                              2.74 %     3.47 %     -0.73 %

Fluctuations in net interest income can result from the combination of changes in the balances of asset and liability categories and changes in interest rates. Interest rates earned and paid are also affected by general economic conditions, particularly changes in market interest rates, and by competitive factors, government policies, and the action of regulatory authorities. Net interest margin is a measure of the net return on interest-earning assets and is computed by dividing annualized tax-equivalent net interest income by the average of total interest-earning assets for the period. The net interest margin for the three months ended June 30, 2009, was 2.63 percent, a decline of 93 basis points compared to the same quarter last year and 24 basis points lower than the first quarter of 2009. The decrease from the prior quarter was due to a significant increase in the second quarter of 2009 in the average amount of assets held in low-yielding federal funds sold due to maintaining a high level of liquidity during the current uncertain economy and a temporary significant influx of money market deposits by two commercial customers. Late in the quarter the deposits flowed back out and additional investments securities were purchased, which should help improve the margin in future quarters. The decline in the net interest margin for the second quarter of 2009 compared to 2008 was caused by the yield on earning assets declining more than the rates paid on interest-bearing liabilities. The Company's tax-equivalent net interest income for the three months ended June 30, 2009, increased slightly compared to the three months ended June 30, 2008, due to growth in interest-earning assets.

For the six months ended June 30, 2009, the net interest margin declined to 2.74 percent, which was a 73 basis point decline compared to the six months ended June 30, 2008. Despite the drop in the net interest margin, tax-equivalent net interest income for the six months ended June 30, 2009, increased $363 as growth in earning assets exceeded growth in interest-bearing liabilities when compared to the six months ended June 30, 2008. The high level of competition in the local markets, the Federal Reserves' targeted federal funds rate of zero to 25 basis points, and the high level of non-accrual loans are expected to keep pressure on the net interest margin of the Company.

Tax-equivalent interest income and fees on loans declined $1,438 in the first six months of 2009 compared to the same period in 2008, as the combination of lower rates, and a higher volume of non-accrual loans exceeded the positive impact of the $111 million increase in the average volume of outstanding loans. The average yield on loans declined to 5.47 percent for the first six months of 2009, compared to 6.34 percent for the same period in 2008. The yield on the Company's loan portfolio is affected by the mix of the portfolio, the effects of competition, the interest rate environment, the amount of non-accrual loans, and reversals of previously accrued interest on charged-off loans. The interest rate environment can influence the volume of new loan originations and the mix of variable rate versus fixed rate loans. Loan pricing in the Company's market areas remains competitive, while the level of demand for new loans has declined as business customers assess the long-term effects of the recession.

For the first six months of 2009, the average balance of investment securities was $5 million higher than in the first six months of 2008, and the yield declined 40 basis points. The decline in yield was caused by reversing $117 of interest on securities deemed impaired during the first quarter of 2009. Investment securities totaling approximately $74 million were sold, called or matured in the first six months of 2009 and approximately $140 million of investment securities were purchased during the same period.

The average balance of federal funds sold and short-term investments increased over $239 million during the first six months of 2009 compared to the same time period in 2008. Despite the significant increase in volume, net interest income on these assets increased only $76 due to the 233 basis point drop in rates. As mentioned above, this high level of federal funds sold was reduced by the end of the quarter in order to enhance net interest income in the coming months.

The average rate paid on deposits for the first six months of 2009 declined to 2.00 percent from 3.06 percent for the same period last year. Despite the significant drop in rates paid, interest expense increased by $60 due to a sizable increase in average balances. The average balance of interest-bearing demand and savings accounts grew due to the temporary spike of $50 million in average money market balances mentioned above, as well as an additional $54 million in average Reward Me Checking product balances, which currently are paid a rate in excess of certificate of deposit rates, and a $37 million increase in average SmartyPig savings account balances. The average balance of time deposits increased $251 million in the first six months of 2009 compared to the same time period in 2008 with all of that increase in brokered time deposits. The balance is expected to remain higher as more customers are participating in the Certificate of Deposit Account Registry Service (CDARS) program in order to obtain FDIC insurance on their deposits. CDARS is a program that coordinates a network of banks to spread deposits exceeding the FDIC insurance coverage limits out to numerous institutions in order to provide insurance coverage for all participating deposits. Even though these depositors are customers of West Bank, banking regulations currently require these deposits to be classified as brokered.

The average rate paid on other borrowings declined by 75 basis points compared to the first six months of 2008. The average balance of borrowings for the first six months of 2009 was $62 million lower than a year ago. Overnight borrowings in the form of federal funds purchased from correspondent banks and securities sold under agreements to repurchase averaged $43 million less than during the first six months of last year. The average rate paid on overnight borrowings declined 244 basis points in 2009 compared to the first six months of 2008. Average long-term borrowings declined $17 million, while the average rates paid on borrowings increased 24 basis points compared to 2008.

Provision for Loan Losses and the Related Allowance for Loan Losses

The provision for loan losses represents charges made to earnings to maintain an adequate allowance for loan losses. The allowance for loan losses is management's best estimate of probable losses inherent in the loan portfolio as of the balance sheet date. Factors considered in establishing an appropriate allowance include: an assessment of the financial condition of the borrower; a realistic determination of value and adequacy of underlying collateral; the condition of the local economy and the condition of the specific industry of the borrower; an analysis of the levels and trends of loan categories; and a review of delinquent and classified loans.

The adequacy of the allowance for loan losses is evaluated quarterly by management and reviewed by West Bank's Board of Directors. This evaluation focuses on factors such as specific loan reviews, changes in the components of the loan portfolio given the current and forecasted economic conditions, and historical loss experience. Any one of the following conditions may result in the review of a specific loan: concern about whether the customer's cash flow or net worth is sufficient to repay the loan; delinquency status; criticism of the loan in a regulatory examination; the suspension of interest accrual; or other reasons, including whether the loan has other special or unusual characteristics that suggest special monitoring is warranted.

While management uses available information to recognize potential losses on loans, further reduction in the carrying amounts of loans may be necessary based on changes in circumstances or later acquired information. Furthermore, changes in future economic activity are always uncertain. Identifiable sectors within the general economy are subject to additional volatility, which at any time may have a substantial impact on the loan portfolio. In addition, regulatory agencies, as an integral part of their examination process, periodically review the estimated losses on loans. Such agencies may require West Bank to recognize additional losses based on their judgment about information available to them at the time of their examination.

West Bank's policy is to charge off loans when, in management's opinion, the loan is deemed uncollectible, although concerted efforts are made to maximize future recoveries. The following table summarizes the activity in the allowance for loan losses for the three and six months ended June 30, 2009 and 2008, as well as common ratios related to the allowance for loan losses.

                                       Three Months Ended June 30,                   Six Months Ended June 30,
                                    2009            2008          Change         2009            2008          Change
Balance at beginning of period   $    18,015     $    14,260     $  3,755     $    15,441     $     8,935     $  6,506
Charge-offs                           (9,366 )        (4,740 )     (4,626 )       (10,553 )        (5,121 )     (5,432 )
Recoveries                                13              37          (24 )           274             143          131
Net charge-offs                       (9,353 )        (4,703 )     (4,650 )       (10,279 )        (4,978 )     (5,301 )
Provision charged to
operations                            15,000           1,000       14,000          18,500           6,600       11,900
Balance at end of period         $    23,662     $    10,557     $ 13,105     $    23,662     $    10,557     $ 13,105

Average loans outstanding        $ 1,129,995     $ 1,024,374                  $ 1,123,104     $ 1,012,303

Ratio of net charge-offs
during the period to average
loans outstanding                       0.83 %          0.46 %                       0.92 %          0.49 %
Ratio of allowance for loan
losses to average loans
outstanding                             2.09 %          1.03 %                       2.11 %          1.04 %

The provision for loan losses was increased to $15 million for the second quarter of 2009. The provision increased due to higher charge-offs, including $4.6 million for a loan to one customer, and continued deterioration in collateral values on certain loans. The 2009 year-to-date provision is also higher than historic levels as a result of the economy remaining in a recession with significant difficulty being experienced in the construction and real estate development, commercial real estate, and commercial business sectors.

Net charge-offs during the first six months of 2009 were $5.3 million higher than in the same period in 2008. The majority of the 2009 year-to-date charge-offs were related to seven customers.

The allowance for loan losses represented 41.9 percent of non-performing loans at June 30, 2009, compared to 53.5 percent at December 31, 2008. The ratio has declined primarily due to the significant increase in non-performing loans. However, a significant portion of non-accrual loans are collateralized by real estate which means it is unlikely those loans would suffer a total loss of principal amount.