MidWestOne Financial Group, Inc. (OQ:MOFG)

Business Focus: Commercial Banks

Sector:  Financials Industry:  Banks
See Regulatory Filings on SEC
Company Contact
Address: 102 S Clinton St
IOWA CITY IA 52240-4065
Tel: N/A
Website: www.snl.com/irweblinkx/corporateprofile.aspx
IR: See website
Key People
Kevin W. Monson
Independent Chairman of the Board
Charles N. Funk
President, Chief Executive Officer, Director
Barry S. Ray
Chief Financial Officer, Senior Vice President
Mitchell W. Cook
Senior Regional President - Minnesota and Wisconsin Markets
Kurt R. Weise
Executive Vice President, Director
David E. Lindstrom
Senior Vice President - Retail Banking
Gary L. Sims
Chief Credit Officer
Business Overview
MidWestOne Financial Group, Inc. is a bank holding and financial holding company. The Company operates through its bank subsidiaries, MidWestOne Bank, Central Bank and MidWestOne Insurance Services, Inc. that operates through three agencies located in central and east-central Iowa. As of May 1, 2019, the Bank operated a total of 62 banking offices in Iowa, Minnesota, Wisconsin, Colorado and Florida. It provides full service retail banking in the communities in which its branch offices are located and also offers trust and investment management services. The Bank offers deposit products, including checking and other demand deposit accounts, negotiable order of withdrawal (NOW) accounts, savings accounts, money market accounts, certificates of deposit, individual retirement accounts and other time deposits. The Bank offers commercial and industrial, agricultural, real estate mortgage and consumer loans.
Financial Overview
For the three months ended 31 March 2019, MidWestOne Financial Group, Inc. interest income increased 8% to $33.4M. Net interest income after loan loss provision increased less than 1% to $24.4M. Net income decreased 7% to $7.3M. Net interest income after loan loss provision reflects Interest and Fees on Loans increase of 9% to $29M, Taxable investment securities increase of 7% to $2.9M, also reflect Net Interest Margin.
Employees: 597 as of Dec 31, 2018
Reporting Currency: U.S. Dollars
Enterprise value: $508.85M as of Mar 31, 2019
Annual revenue (TTM): $131.22M as of Mar 31, 2019
EBITDA (TTM): $48.76M as of Mar 31, 2019
Net annual income (TTM): $29.84M as of Mar 31, 2019
Free cash flow (TTM): $29.90M as of Mar 31, 2019
Net Debt Last Fiscal Year: $60.34M as of Mar 31, 2019
Shares outstanding: 16,262,378 as of May 7, 2019
TTM: Trailing Twelve Months
EBITDA: Earnings Before Interest, Taxes, Depreciation, & Amortization