West Bancorporation plans to acquire Investors Management Group, a wholly owned subsidiary of AMCORE, said Katy Mackay, director of marketing. Financial terms were not disclosed. West Bancorporation provides asset management services through subsidiary VMF Capital, an equity asset management firm with $900 million in assets. IMG, a fixed-income manager, brings more than $3.8 billion in assets.
The deal is expected to provide West Bancorporation an additional source of fee income, Thomas Stanberry, chairman, president and CEO, said in a news release.
The acquisition is expected to close late in the fourth quarter.
