Midwestone Financial Group Inc (IOWA) (OQ:MOFG)
Business Focus: Banks
| Sector: Financials | Industry: Banks |
| See Regulatory Filings on SEC | |
| Company Contact | |
| Address: | 102 South Clinton St. IOWA CITY IA 52240 |
| Tel: | N/A |
| Website: | https://www.midwestonefinancial.com |
| IR: | See website |
| Key People | ||
| Len D. Devaisher President, Chief Operating Officer | Charles N. Reeves Chief Executive Officer, Director | Barry S. Ray Chief Financial Officer, Senior Executive Vice President |
| Gary L. Sims Senior Vice President and Chief Credit Officer | David E. Lindstrom Executive Vice President - Retail Banking of the Bank | |
| Business Overview |
| MidWestOne Financial Group, Inc. (MidWestOne) is a financial holding company. MidWestOne is the parent company of MidWestOne Bank (the Bank), which operates banking offices in Iowa, Minnesota, Wisconsin, Florida, and Colorado. MidWestOne provides electronic delivery of financial services through its Website, MidWestOne.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. Complementary 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, ATMs, and safe deposit boxes. The Bank also has a trust department and an investment services department. |
| Financial Overview |
| For the three months ended 31 March 2024, Midwestone Financial Group Inc (IOWA) interest income increased 17% to $69.5M. Net interest income after loan loss provision decreased 23% to $30M. Net income increased from $1.4M to $3.3M. Net interest income after loan loss provision reflects Net Interest Margin, Total - % decrease of 15% to 2.33%, Net Interest Spread, Total - % decrease of 25% to 1.83%. |
| Employees: | 732 as of Dec 31, 2023 |
| Reporting Currency: | U.S. Dollars |
| Enterprise value: | $407.31M as of Mar 31, 2024 |
| Annual revenue (TTM): | $259.84M as of Mar 31, 2024 |
| EBITDA (TTM): | $64.36M as of Mar 31, 2024 |
| Net annual income (TTM): | $22.73M as of Mar 31, 2024 |
| Free cash flow (TTM): | $35.15M as of Mar 31, 2024 |
| Net Debt Last Fiscal Year: | $65.37M as of Mar 31, 2024 |
| Shares outstanding: | 15,755,319 as of May 3, 2024 |
| TTM: Trailing Twelve Months EBITDA: Earnings Before Interest, Taxes, Depreciation, & Amortization | |
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