Midwestone Financial Group Inc (IOWA)
NASDAQ:MOFG

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Midwestone Financial Group Inc (IOWA)
NASDAQ:MOFG
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Price: 41.66 USD 1.29% Market Closed
Market Cap: 859.4m USD

Midwestone Financial Group Inc (IOWA)
Investor Relations

MidWestOne Financial Group, Inc. is a financial holding company, which focuses on delivering relationship-based business and personal banking products and services through its bank subsidiary, MidWestOne Bank. The company is headquartered in Iowa City, Iowa and currently employs 760 full-time employees. The company went IPO on 2008-03-17. The firm's principal business is to serve as the holding company for its wholly owned subsidiary, MidWestOne Bank (the Bank). The Bank is focused on delivering relationship-based business and personal banking products and services. The Bank provides commercial loans, real estate loans, agricultural loans, credit card loans, and consumer loans. The Bank also provides deposit products, including demand and interest checking accounts, savings accounts, money market accounts, and time deposits. In addition to its loan and deposit products, the Bank also provides products and services, including treasury management, Zelle, online and mobile banking, debit cards, automated teller machines (ATMs), and safe deposit boxes. The Bank also has a trust department, through which it offers services, including the administration of estates, personal trusts, and conservatorships and the management of real property.

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Last Earnings Call
Fiscal Period
Q2 2025
Call Date
Jul 25, 2025
AI Summary
Q2 2025

Loan Growth: Loans grew 7.4% for the quarter, with management expecting mid-single-digit loan growth in the second half of 2025.

Net Interest Margin: Net interest margin expanded 13 basis points to 3.57%, driven by loan repricing and higher new loan yields.

Credit Event: A single $24 million suburban Minneapolis CRE office loan moved to nonaccrual, significantly increasing credit loss expense, but was described as an isolated issue.

Asset Quality: Outside of the large CRE loan, asset quality generally improved, with criticized asset ratio down 32 basis points and minimal net charge-offs.

Expense Guidance: 2025 expense guidance was raised to $146–148 million due to recent hiring, especially in key markets.

Fee Income Strength: Wealth management and SBA businesses performed well, with SBA fee income doubling year-over-year.

Capital & Buybacks: CET1 ratio increased to 11.02%; management is supportive of buybacks with a focus on building capital and performance before pursuing M&A.

Key Financials
Loan Growth
7.4%
Net Interest Margin
3.57%
Net Interest Income
$50 million
Noninterest Income
$10.2 million
Noninterest Expense
$35.8 million
Net Income
$10 million
Diluted EPS
$0.48
Allowance for Credit Losses Ratio
1.50%
CET1 Ratio
11.02%
SBA Fee Income (Year-to-Date)
$860,000
Net Charge-Offs
2 basis points
Core Loan Portfolio Yield
5.70%
New Loan Originations Yield
6.76%
Cost of Interest-Bearing Deposits
2.29%
Shareholders' Equity
$589 million
Retained Earnings
$5 million increase
Earnings Call Recording
Other Earnings Calls

Management

Mr. Charles N. Reeves
CEO & Director
No Bio Available
Mr. Len D. Devaisher
President & COO
No Bio Available
Mr. Barry S. Ray CPA
Senior Executive VP, CFO & Treasurer
No Bio Available
Mr. David E. Lindstrom
VP & Head of Consumer Banking
No Bio Available
Mr. Gary L. Sims
Senior VP & Chief Credit Officer
No Bio Available
Mr. John J. Ruppel
Chief Accounting Officer
No Bio Available
Mr. Sing Loy Ho
Executive VP & Chief Information Officer
No Bio Available
Ms. Elda Macias M.B.A.
Senior VP & Chief Marketing Officer
No Bio Available
Mr. Timothy M. Heth
VP & Chief Human Resources Officer
No Bio Available
Ms. Susan M. Moore
Senior VP & Chief Risk Officer
No Bio Available

Contacts

Address
IOWA
Iowa City
102 S Clinton St
Contacts