Midwestone Financial Group Inc (IOWA) (OQ:MOFG)

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 fiscal year ended 31 December 2019, Midwestone Financial Group Inc (IOWA) interest income increased 42% to $182.4M. Net interest income after loan loss provision increased 39% to $136.5M. Net income increased 44% to $43.6M. Net interest income after loan loss provision reflects Net Interest Margin, Total - % increase of 6% to 3.82%, Net Interest Spread, Total - % increase of 5% to 3.59%.
Employees: 771 as of Dec 31, 2019
Reporting Currency: U.S. Dollars
Enterprise value: $444.25M as of Dec 31, 2019
Annual revenue (TTM): $182.44M as of Dec 31, 2019
EBITDA (TTM): $69.77M as of Dec 31, 2019
Net annual income (TTM): $43.63M as of Dec 31, 2019
Free cash flow (TTM): $33.65M as of Dec 31, 2019
Net Debt Last Fiscal Year: $158.14M as of Dec 31, 2019
Shares outstanding: 16,146,376 as of Mar 4, 2020
TTM: Trailing Twelve Months
EBITDA: Earnings Before Interest, Taxes, Depreciation, & Amortization