Trade MidWestOne Financial Group Inc - MOFG CFD

MidWestOne Company profile

About Midwestone Financial Group Inc (IOWA)

MidWestOne Financial Group, Inc. is a bank holding company. The Company’s principal business is to serve its 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, credit and debit cards, automatic 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.

Financial summary

BRIEF: For the fiscal year ended 31 December 2021, Midwestone Financial Group Inc (IOWA) interest income decreased 4% to $176.8M. Net interest income after loan loss provision increased 31% to $163.6M. Net income increased from $6.6M to $69.5M. Net interest income after loan loss provision reflects Taxable investment securities increase of 46% to $25.7M, Tax-exempt investment securities increase of 20% to $9.9M.

Equity composition

Common Stock $1 Par, 03/11, 15M auth., 8,690,398 issd., less 75,608 shs. in Treas @ $1.1M. Insiders own 19.09%. $1K Par, 12/10 0.5M Auth.. 16K issued.