MOFG - Earnings announcements

IOWA CITY, Iowa, Oct. 23, 2025 (GLOBE NEWSWIRE) -- MidWestOne Financial Group, Inc. (NASDAQ:MOFG) ("we," "our," or the "Company") today reported results for the third quarter of 2025. Third Quarter 2025 Summary1 Net income of $17.0 million, or $0.82 per diluted common share. Adjusted earnings of $18.1 million, or $0.872 per common share. Noninterest income was $10.3 million, which included a negative MSR valuation adjustment of $611 thousand.Noninterest expense was $37.6 million, which included a $655 thousand loss on extinguishment of debt and merger-related costs of $132 thousand.Efficiency ratio of 58.21%2. Net interest margin (tax equivalent) was 3.57%2; core net interest margin expa

GREEN BAY, Wis. and IOWA CITY, Iowa, Oct. 23, 2025 (GLOBE NEWSWIRE) -- Nicolet Bankshares, Inc. (NYSE:NIC) ("Nicolet") and MidWestOne Financial Group, Inc., (NASDAQ:MOFG) ("MidWestOne") jointly announced today the execution of a definitive merger agreement pursuant to which Nicolet will acquire MidWestOne and its wholly-owned banking subsidiary, MidWestOne Bank. Based on the financial results as of September 30, 2025, the combined company will have pro forma total assets of $15.3 billion, deposits of $13.1 billion, and loans of $11.3 billion. Upon closing of the transaction, Nicolet will have more than 110 branches, as well as loan production offices, across the Upper Midwest, Denver, Col

Combination creates premier community banking franchise in the Upper Midwest Nicolet Bankshares, Inc. (NYSE:NIC) ("Nicolet") and MidWestOne Financial Group, Inc., (NASDAQ:MOFG) ("MidWestOne") jointly announced today the execution of a definitive merger agreement pursuant to which Nicolet will acquire MidWestOne and its wholly-owned banking subsidiary, MidWestOne Bank. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20251023414214/en/ Based on the financial results as of September 30, 2025, the combined company will have pro forma total assets of $15.3 billion, deposits of $13.1 billion, and loans of $11.3 billion. Upon closing of

IOWA CITY, Iowa, Oct. 10, 2025 (GLOBE NEWSWIRE) -- MidWestOne Financial Group, Inc. (NASDAQ:MOFG) ("MidWestOne" or the "Company"), parent company of MidWestOne Bank, today announced that its third quarter 2025 financial results will be released after market closes on Thursday, October 23, 2025. The Company will host a conference call to discuss its financial results at 11:00 a.m. Central Time on Friday, October 24, 2025. Investors and analysts interested in participating in the call may pre-register utilizing the following link: https://www.netroadshow.com/events/login?show=414319b0&confId=80379. After pre-registering for this event, you will receive your access details via email. On the

IOWA CITY, Iowa, July 24, 2025 (GLOBE NEWSWIRE) -- MidWestOne Financial Group, Inc. (NASDAQ:MOFG) ("we," "our," or the "Company") today reported results for the second quarter of 2025. Second Quarter 2025 Summary1 Pre-tax, pre-provision net revenue increased 15% to $24.5 million2. Net interest margin (tax equivalent) was 3.57%2; core net interest margin expanded 13 basis points ("bps") to 3.49%.2Noninterest income was $10.2 million.Noninterest expense was $35.8 million.Efficiency ratio improved to 56.20%2 from 59.38%2. Net income of $10.0 million, or $0.48 per diluted common share, reflected credit loss expense of $11.9 million stemming primarily from a single commercial real estate ("CR

IOWA CITY, Iowa, July 11, 2025 (GLOBE NEWSWIRE) -- MidWestOne Financial Group, Inc. (NASDAQ:MOFG) ("MidWestOne" or the "Company"), parent company of MidWestOne Bank, today announced that its second quarter 2025 financial results will be released after market closes on Thursday, July 24, 2025. The Company will host a conference call to discuss its financial results at 11:00 a.m. Central Time on Friday, July 25, 2025. Investors and analysts interested in participating in the call may pre-register utilizing the following link: https://www.netroadshow.com/events/login?show=a6070726&confId=80381. After pre-registering for this event, you will receive your access details via email. On the day

IOWA CITY, Iowa, April 24, 2025 (GLOBE NEWSWIRE) -- MidWestOne Financial Group, Inc. (NASDAQ:MOFG) ("we," "our," or the "Company") today reported results for the first quarter of 2025. First Quarter 2025 Summary1 Net income of $15.1 million, or $0.73 per diluted common share. Net interest margin (tax equivalent) was 3.44%;2 core net interest margin expanded 10 basis points ("bps") to 3.36%.2Noninterest expenses were $36.3 million; efficiency ratio was 59.38%.2Return on average assets of 1.00%. Criticized loans ratio improved 54 bps to 5.47%; nonperforming assets ratio improved 7 bps to 0.33%.Tangible book value per share of $23.36,2 an increase of 4.4%.Common equity tier 1 ("CET1") capit

IOWA CITY, Iowa, April 11, 2025 (GLOBE NEWSWIRE) -- MidWestOne Financial Group, Inc. (NASDAQ:MOFG) ("MidWestOne" or the "Company"), parent company of MidWestOne Bank, today announced that its first quarter 2025 financial results will be released after market closes on Thursday, April 24, 2025. The Company will host a conference call to discuss its financial results at 11:00 a.m. Central Time on Friday, April 25, 2025. Investors and analysts interested in participating in the call may pre-register utilizing the following link: https://www.netroadshow.com/events/login?show=29396e9f&confId=80376. After pre-registering for this event, you will receive your access details via email. On the day

IOWA CITY, Iowa, Jan. 10, 2025 (GLOBE NEWSWIRE) -- MidWestOne Financial Group, Inc. (NASDAQ:MOFG) ("MidWestOne" or the "Company"), parent company of MidWestOne Bank, today announced that its fourth quarter 2024 financial results will be released after market closes on Thursday, January 23, 2025. The Company will host a conference call to discuss its financial results at 11:00 a.m. Central Time on Friday, January 24, 2025. Investors and analysts interested in participating in the call may pre-register utilizing the following link: https://www.netroadshow.com/events/login?show=edad992a&confId=75837. After pre-registering for this event, you will receive your access details via email. On the

IOWA CITY, Iowa, Oct. 24, 2024 (GLOBE NEWSWIRE) -- MidWestOne Financial Group, Inc. (NASDAQ:MOFG) ("we", "our", or the "Company") today reported results for the third quarter of 2024. Third Quarter 2024 Summary1 Completed a common equity capital raise, resulting in net proceeds to the Company of $118.6 million to facilitate a balance sheet repositioning. $140.4 million of securities impairment related to the repositioning was recognized in pre-tax earnings.Subsequent to quarter-end: Sold $1.0 billion of debt securities with a weighted average yield of 1.58%, and a weighted average life of 5.6 years.Purchased $589.8 million of debt securities, with a weighted average yield of 4.65%,

IOWA CITY, Iowa, Oct. 11, 2024 (GLOBE NEWSWIRE) -- MidWestOne Financial Group, Inc. (NASDAQ:MOFG) ("MidWestOne" or the "Company"), parent company of MidWestOne Bank, today announced that its third quarter 2024 financial results will be released after market closes on Thursday, October 24, 2024. The Company will host a conference call to discuss its financial results at 11:00 a.m. Central Time on Friday, October 25, 2024. Investors and analysts interested in participating in the call may pre-register utilizing the following link: https://www.netroadshow.com/events/login?show=e1a9f566&confId=71942. After pre-registering for this event, you will receive your access details via email. On th

IOWA CITY, Iowa, July 25, 2024 (GLOBE NEWSWIRE) -- MidWestOne Financial Group, Inc. (NASDAQ:MOFG) ("we", "our", or the "Company") today reported results for the second quarter of 2024. Second Quarter 2024 Summary1 Completed sale of our Florida banking operations for a 7.5% deposit premium. Included in the sale were $133.3 million of deposits and $163.6 million of loans. Net income of $15.8 million, or $1.00 per diluted common share. Revenue of $57.9 million, which included gain on sale of $11.1 million and a positive MSR valuation adjustment of $129 thousand.Noninterest expense of $35.8 million, which included merger-related costs of $854 thousand. Net interest margin (tax equiva

IOWA CITY, Iowa, July 12, 2024 (GLOBE NEWSWIRE) -- MidWestOne Financial Group, Inc. (NASDAQ:MOFG) ("MidWestOne" or the "Company"), parent company of MidWestOne Bank, today announced that its second quarter 2024 financial results will be released after market closes on Thursday, July 25, 2024. The Company will host a conference call to discuss its financial results at 11:00 a.m. Central Time on Friday, July 26, 2024. Investors and analysts interested in participating in the call may pre-register utilizing the following link: https://www.netroadshow.com/events/login?show=25afc13e&confId=68332. After pre-registering for this event, you will receive your access details via email. On the day o

IOWA CITY, Iowa, April 25, 2024 (GLOBE NEWSWIRE) -- MidWestOne Financial Group, Inc. (NASDAQ:MOFG) ("we", "our", or the "Company") today reported results for the first quarter of 2024. First Quarter 2024 Summary1 Completed acquisition of Denver Bankshares, Inc. ("DNVB"), the related core banking system conversion, and closure of the legacy MidWestOne Denver banking office.Net income of $3.3 million, or $0.21 per diluted common share. Revenue was $44.5 million, comprised of net interest income of $34.7 million and noninterest income of $9.8 million, which included a negative MSR valuation adjustment of $368 thousand.Credit loss expense of $4.7 million, which included day 1 credit loss exp

IOWA CITY, Iowa, April 12, 2024 (GLOBE NEWSWIRE) -- MidWestOne Financial Group, Inc. (NASDAQ:MOFG) ("MidWestOne" or the "Company"), parent company of MidWestOne Bank, today announced that its first quarter 2024 financial results will be released after market closes on Thursday, April 25, 2024. The Company will host a conference call to discuss its financial results at 11:00 a.m. Central Time on Friday, April 26, 2024. Investors and analysts interested in participating in the call may pre-register utilizing the following link: https://www.netroadshow.com/events/login?show=0114d1d0&confId=63215. After pre-registering for this event, you will receive your access details via email. On the day

IOWA CITY, Iowa, Jan. 25, 2024 (GLOBE NEWSWIRE) -- MidWestOne Financial Group, Inc. (NASDAQ:MOFG) ("we", "our", or the "Company") today reported results for the fourth quarter and full year of 2023. Fourth Quarter 2023 Summary1 Net income of $2.7 million, or $0.17 per diluted common share, including, on a pre-tax basis, securities net losses of $5.7 million, merger-related costs of $245 thousand, voluntary early retirement program costs of $438 thousand, and a negative mortgage servicing right valuation adjustment of $105 thousand.Sold $115.2 million of securities in a balance sheet repositioning, proceeds were utilized to purchase higher yielding debt securities and reduce short-term bo

IOWA CITY, Iowa, Jan. 12, 2024 (GLOBE NEWSWIRE) -- MidWestOne Financial Group, Inc. (NASDAQ:MOFG) ("MidWestOne" or the "Company"), parent company of MidWestOne Bank, today announced that its fourth quarter 2023 financial results will be released after market closes on Thursday, January 25, 2024. The Company will host a conference call to discuss its financial results at 11:00 a.m. Central Time on Friday, January 26, 2024. Investors and analysts interested in participating in the call may pre-register utilizing the following link: https://www.netroadshow.com/events/login?show=0492f968&confId=59127. After pre-registering for this event, you will receive your access details via email. On the

IOWA CITY, Iowa, Oct. 26, 2023 (GLOBE NEWSWIRE) -- MidWestOne Financial Group, Inc. (NASDAQ:MOFG) ("we", "our", or the "Company") today reported results for the third quarter of 2023. Third Quarter 2023 Highlights1 Net income of $9.1 million, or $0.58 per diluted common share, compared to net income of $7.6 million, or $0.48 per diluted common share, for the linked quarter.Annualized loan growth of 4.8%.Core deposits increased $83.2 million or 2%.Nonperforming assets ratio of 0.45%; net charge-off ratio was 0.04%.Efficiency ratio improved to 66.06%.Announced sale of Florida operations and acquisition of Denver Bankshares, Inc. ("Denver Bankshares") in strategic geographic repositioning.

IOWA CITY, Iowa, Oct. 13, 2023 (GLOBE NEWSWIRE) -- MidWestOne Financial Group, Inc. (NASDAQ:MOFG) ("MidWestOne" or the "Company"), parent company of MidWestOne Bank, today announced that its third quarter 2023 financial results will be released after market closes on Thursday, October 26, 2023. The Company will host a conference call to discuss its financial results at 11:00 a.m. Central Time on Friday, October 27, 2023. Investors and analysts interested in participating in the call may pre-register utilizing the following link: https://www.netroadshow.com/events/login?show=03182047&confId=56188. After pre-registering for this event, you will receive your access details via email. On the

IOWA CITY, Iowa, Aug. 01, 2023 (GLOBE NEWSWIRE) -- MidWestOne Financial Group, Inc. (NASDAQ:MOFG) ("we", "our", or the "Company") today reported results for the second quarter of 2023. Second Quarter 2023 Highlights1 Net income of $7.6 million, or $0.48 per diluted common share, compared to net income of $1.4 million, or $0.09 per diluted common share, for the linked quarter.Annualized loan growth of 10.6%.Expenses of $34.9 million included $1.4 million of costs stemming from a voluntary early retirement program and executive relocation.Nonperforming assets ratio improved 1 basis point ("bps") to 0.22%; net charge-off ratio was 0.09%. Subsequent Events On July 2

IOWA CITY, Iowa, July 24, 2023 (GLOBE NEWSWIRE) -- MidWestOne Financial Group, Inc. (NASDAQ:MOFG) ("MidWestOne" or the "Company"), parent company of MidWestOne Bank, today announced that its second quarter 2023 financial results will be released before market open on Tuesday, August 1, 2023. The Company will host a conference call to discuss its financial results at 11:00 a.m. Central Time on Tuesday, August 1, 2023. Investors and analysts interested in participating in the call may pre-register utilizing the following link: https://www.netroadshow.com/events/login?show=c7140c96&confId=51647. After pre-registering for this event, you will receive your access details via email. On the

~Announces Strategic Plan and Financial Targets~ ~Repositioning of the Company's Balance Sheet Provides Earnings, Margin and Return Accretion~ IOWA CITY, Iowa, April 27, 2023 (GLOBE NEWSWIRE) --  MidWestOne Financial Group, Inc. (NASDAQ:MOFG) ("we", "our", or the "Company") today reported results for the first quarter of 2023. First Quarter 2023 Highlights1 Net income of $1.4 million, or $0.09 per diluted common share, compared to net income of $16.0 million, or $1.02 per diluted common share, for the linked quarter. Excluding the loss from the balance sheet repositioning, adjusted earnings for the first quarter were $11.2 million2, or $0.72 per diluted common share.Executed the sale o

IOWA CITY, Iowa , April 13, 2023 (GLOBE NEWSWIRE) -- MidWestOne Financial Group, Inc. (NASDAQ:MOFG) ("MidWestOne" or the "Company"), parent company of MidWestOne Bank, today announced that its first quarter 2023 financial results will be released after market close on Thursday, April 27, 2023. The Company will host a conference call to discuss its financial results at 11:00 a.m. Central Time on Friday, April 28, 2023. Investors and analysts interested in participating in the call may pre-register utilizing the following link: https://www.netroadshow.com/events/login?show=586c53ba&confId=49008. After pre-registering for this event, you will receive your access details via email. On the day

Fourth Quarter Summary1 Net income for the fourth quarter was $16.0 million, or $1.02 per diluted common share. Revenue was $54.5 million, which included $2.5 million, or $0.16 per diluted common share, of additional bargain purchase gain stemming from the Iowa First Bancshares Corp. ("IOFB") acquisition.Credit loss expense was $0.6 million.Noninterest expense was $34.4 million, which included $0.4 million of merger-related expenses. Annualized loan growth was 10.36%.Nonperforming assets ratio improved 16 basis points ("bps") to 0.24%.Efficiency ratio was 57.79%2. Full Year 2022 Summary1 Net income for the full year was $60.8 million, or $3.87 per diluted common share.       Adjusted core

Third Quarter Summary1 Net income for the third quarter was $18.3 million, or $1.17 per diluted common share.Net interest margin (tax equivalent) expanded 21 basis points (bps) to 3.08%2.Annualized core loan growth (excluding PPP) of 15.72%2.Nonperforming assets ratio improved 3 bps to 0.40%; net charge-off ratio of 0.06%.Efficiency ratio improved to 53.67%2. IOWA CITY, Iowa, Oct. 27, 2022 (GLOBE NEWSWIRE) -- MidWestOne Financial Group, Inc. (NASDAQ:MOFG) ("we", "our", or the "Company") today reported net income for the third quarter of 2022 of $18.3 million, or $1.17 per diluted common share, compared to net income of $12.6 million, or $0.80 per diluted common share, for the linked

Second Quarter Summary1 Completed acquisition of Iowa First Bancshares Corp ("IOFB").Annualized adjusted core loan growth (excluding IOFB and PPP) of 10.53%2.Nonperforming assets ratio improved 10 basis points (bps) to 0.43%; net charge-off ratio improved 25 bps to 0.03%.Net interest margin (tax equivalent) expanded 8 bps to 2.87%2.Net income for the second quarter was $12.6 million, or $0.80 per diluted common share. Total revenue, net of interest expense, of $52.1 million, including a $1.4 million bargain purchase gain recognized in connection with the IOFB acquisition.Credit loss expense of $3.3 million stemming from the acquired IOFB loan portfolio.Noninterest expense of $32.1 million,

First Quarter Summary1 Net income for the first quarter was $13.9 million, or $0.88 per diluted common share. Total revenue, net of interest expense, of $49.0 million.Noninterest expense of $31.6 million. Core commercial annualized loan growth of 5.4% to $2.71 billion2.No credit loss expense in the first quarter 2022 and the allowance for credit losses ratio declined to 1.42%.Nonperforming assets ratio remained stable at 0.53% and the annualized net charge-off ratio was 28 bps.Efficiency ratio was 60.46%2. IOWA CITY, Iowa, April 28, 2022 (GLOBE NEWSWIRE) -- MidWestOne Financial Group, Inc. (NASDAQ:MOFG) ("we", "our", or the "Company") today reported net income for the first quarter of 20

Fourth Quarter Summary1 Net income for the fourth quarter was $14.3 million, or $0.91 per diluted common share. Total revenue, net of interest expense, of $50.0 million.Credit loss expense of $0.6 million.Noninterest expense of $30.4 million. Excluding Paycheck Protection Program ("PPP") loans, commercial loans were $2.68 billion2, as compared to $2.64 billion2, an increase of 5.5% annualized.Efficiency ratio was 56.74%2, an increase of 40 basis points ("bps").Nonperforming assets ratio declined 5 bps to 0.53% and the net charge-off ratio was a recovery of 3 bps.Average total deposits were $5.0 billion, as compared to $4.9 billion, an increase of 2.7%, while cost of average total deposits d

Third Quarter Summary1 Net income for the third quarter was $16.3 million, or $1.03 per diluted common share. Total revenue, net of interest expense, of $49.5 million.Credit loss benefit of $1.1 million.Noninterest expense of $29.8 million. Excluding Paycheck Protection Program ("PPP") loans, commercial loans were $2.64 billion2, as compared to $2.61 billion2 at the end of the second quarter of 2021 (the "linked quarter"), an increase of 1.2%.Efficiency ratio was 56.34%2.Nonperforming assets declined 19.0% and the net charge-off ratio was a recovery of 10 basis points ("bps").Cost of average total deposits decreased 2 bps to 0.26% and cost of funds decreased 3 bps to 0.37%.On November 1, 20

IOWA CITY, Iowa and MUSCATINE, Iowa, Nov. 01, 2021 (GLOBE NEWSWIRE) -- MidWestOne Financial Group, Inc. ("MidWestOne") (NASDAQ:MOFG) and Iowa First Bancshares Corp. ("IOFB") (OTC:IOFB) today jointly announced the execution of a definitive merger agreement providing for the acquisition of IOFB by MidWestOne in a transaction valued at approximately $47.6 million. The combined company will have approximately $6.2 billion in total assets with over 60 banking offices throughout Iowa, Minnesota, Wisconsin, Florida and Colorado. Charles Funk, Chief Executive Officer of MidWestOne, said "This is a natural extension of the MidWestOne geographic footprint as we increase our market presence in Musca

Second Quarter Summary(1) Net income for the second quarter was $17.3 million, or $1.08 per diluted common share. Total revenue, net of interest expense, of $48.7 million.Credit loss benefit of $2.1 million.Noninterest expense of $28.7 million. Excluding PPP loans, commercial loans were $2.61 billion,(2) as compared to $2.56 billion(2) for the first quarter of 2021 (the "linked quarter"), an increase of 2.2%.Average total deposits were $4.88 billion, as compared to $4.57 billion for the linked quarter, an increase of 6.6%, while cost of average total deposits decreased to 0.28%.Efficiency ratio of 54.83%(2).Nonperforming assets declined 8.0% and the net charge-off ratio was 5 bps. IOWA CIT

First Quarter Summary(1) Net income for the first quarter was a record $21.6 million, or $1.35 per diluted common share. Total revenue, net of interest expense, increased to $50.4 million.Credit loss benefit increased to $4.7 million.Noninterest expense decreased to $27.7 million. Efficiency ratio improved to 50.8%.Average total interest earning assets grew 6.6% annualized.Average total deposits grew 7.8% annualized.Allowance for credit losses ratio declined to 1.5% given the improving economic outlook.Nonperforming assets increased 1.9% and the net charge-off ratio was 4 bps. IOWA CITY, Iowa, April 22, 2021 (GLOBE NEWSWIRE) -- MidWestOne Financial Group, Inc. (NASDAQ:MOFG) ("we",

Fourth Quarter Summary(1) Net income for the fourth quarter was $16.7 million, or $1.04 per diluted common share.-- Revenue, net of interest expense, increased $2.3 million, or 5%, to $49.7 million.-- Credit loss expense decreased $8.0 million, or 161%, from improved economic forecasts.-- Noninterest expense decreased $28.0 million, or 47%, to $31.9 million due to the $31.5 million goodwill impairment charge recorded in the third quarter of 2020 (the “linked quarter”).Net charge-off ratio was 4 basis points ("bps"), a decline of 16 bps from the linked quarter.COVID-19 loan modifications declined to $44.1 million, which represented 1.3% of loans held for investment, net of unearned income.Av