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Last $32.75 USD
Change Today -0.19 / -0.58%
Volume 9.1K
MOFG On Other Exchanges
Symbol
Exchange
NASDAQ GS
As of 8:10 PM 07/2/15 All times are local (Market data is delayed by at least 15 minutes).

midwestone financial group i (MOFG) Snapshot

Open
$33.11
Previous Close
$32.94
Day High
$33.23
Day Low
$32.62
52 Week High
06/29/15 - $33.88
52 Week Low
10/1/14 - $22.73
Market Cap
363.5M
Average Volume 10 Days
22.2K
EPS TTM
$2.33
Shares Outstanding
11.1M
EX-Date
05/28/15
P/E TM
14.1x
Dividend
$0.60
Dividend Yield
1.80%
Current Stock Chart for MIDWESTONE FINANCIAL GROUP I (MOFG)

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midwestone financial group i (MOFG) Details

MidWestOne Financial Group, Inc. operates as the bank holding company for MidWestOne Bank that provides commercial and retail banking products and services. The company accepts deposit products, including noninterest and interest bearing demand deposits, checking and other demand deposit accounts, NOW accounts, savings accounts, money market accounts, certificates of deposit, individual retirement accounts, and other time deposits. Its loan portfolio comprises commercial and industrial loans, including lines of credit for working capital and operational purposes, and term loans for the acquisition of equipment; agricultural loans, such as loans made to finance agricultural production, and other loans to farmers and farming operations; real estate construction loans; commercial and residential real estate loans; residential, commercial, and agricultural mortgage loans; and consumer loans comprising personal and automobile loans. The company also offers trust and investment services, which comprise administering estates, personal trusts, conservatorships, pension, and profit-sharing funds; and providing property management, farm management, investment advisory, retail securities brokerage, financial planning, and custodial services. In addition, it provides investment-related services, such as securities trading, financial planning, mutual funds sales, fixed and variable annuities, and tax-exempt and conventional unit trusts. Further, the company offers property and casualty insurance products; and debit cards, automated teller machines, on-line banking, mobile banking, and safe deposit boxes. The company serves individuals, businesses, governmental units, and institutional customers in the United States. It operates 25 branch locations and a specialized home mortgage center in 15 counties throughout central and east-central Iowa; and owns 40 ATMs. MidWestOne Financial Group, Inc. was incorporated in 1983 and is headquartered in Iowa City, Iowa.

374 Employees
Last Reported Date: 03/5/15
Founded in 1983

midwestone financial group i (MOFG) Top Compensated Officers

Chief Executive Officer, President, Director,...
Total Annual Compensation: $377.0K
Chief Financial Officer, Principal Accounting...
Total Annual Compensation: $215.0K
Chief Operating Officer and Chief Operating O...
Total Annual Compensation: $240.0K
Chief Credit Officer, Executive Vice Presiden...
Total Annual Compensation: $236.0K
Chief Risk Officer, Vice President, Chief Ris...
Total Annual Compensation: $191.0K
Compensation as of Fiscal Year 2014.

midwestone financial group i (MOFG) Key Developments

MidWest One Will Look For Acquisitions

Charlie Funk, MidWest One Financial Group, Inc. (NasdaqGS:MOFG)'s Chief Executive said when MidWestOne returns to the M&A hunt - perhaps a year or so from now - it will be in a bit of a sweet spot as a buyer that offer smaller bank sellers the upside potential of a publicly traded stock. "It is a real advantage to be able to offer equity," Funk said in an interview. "Most of the buyers in the market are cash buyers."

MidWest One Financial Group, Inc. Entered into A Credit Agreement with U.S. Bank National Association

On April 30, 2015, MidWestOne Financial Group, Inc. entered into a credit agreement with U.S. Bank National Association pursuant to which U.S. Bank committed, subject to the terms and conditions set in the Credit Agreement, to make a revolving loan to the company in the aggregate principal amount of $5.0 million which matures on April 28, 2016 (the Revolving Loan) and a term loan to the company in the aggregate principal amount of $35.0 million which matures on June 30, 2020 (the Term Loan). The proceeds of the Revolving Loan will be used to fund general working capital and operating expenses. The proceeds of the Term Loan were used to finance the Merger and the repayment of the Notes (as defined below in Item 2.03 and as more fully described in Item 2.03 of this Current Report on Form 8-K). The Revolving Loan has an annual interest rate of 2.00% plus the one-month LIBOR rate. The Term Loan has an annual interest rate of 2.00% or 1.75%, as determined by the terms of the Credit Agreement, plus either the one-, three-, or six-month LIBOR rate or the Cost of Funds Rate, as defined in the Credit Agreement. The Revolving Loan also bears a non-usage fee of 0.25% per annum on the unused commitment at the end of each fiscal quarter.

Midwest One Financial Group, Inc. Reports Earnings Results for the First Quarter Ended March 31, 2015; Reports Net Bank Loan Charge-Offs

MidWest One Financial Group, Inc. reported earnings results for the first quarter ended March 31, 2015. Net income for the first quarter of 2015 totaled $4.8 million, compared with $5.0 million for the same period last year. Both basic and diluted earnings per share were $0.57 for the first quarter of 2015, compared with $0.59 basic and $0.58 diluted earnings per share for the first quarter of 2014. Net interest income for the first quarter of 2015 increased $0.7 million, or 5.3%, from $13.5 million for the first quarter of 2014, to $14.2 million. Tangible book value per share was $22.61 at March 31, 2015, an increase from $22.08 per share at December 31, 2014. Return on Average Assets (annualized) was 1.10% against 1.15% a year ago. Return on Average Equity (annualized) was 9.99% against 11.13% a year ago. The company had net bank loan charge-offs of $0.4 million in the three months ended March 31, 2015, or an annualized 0.15% of average bank loans outstanding, compared to net charge-offs of $0.2 million, or an annualized 0.08% of average bank loans outstanding, for the same period of 2014.

 

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MOFG:US $32.75 USD -0.19

MOFG Competitors

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Company Last Change
First Defiance Financial Corp $37.62 USD -0.28
Hills Bancorporation $42.50 USD +0.75
Mercantile Bank Corp $21.24 USD -0.52
Southwest Bancorp Inc $18.67 USD +0.04
West Bancorporation Inc $19.90 USD -0.04
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Industry Analysis

MOFG

Industry Average

Valuation MOFG Industry Range
Price/Earnings 15.0x
Price/Sales 4.0x
Price/Book 1.4x
Price/Cash Flow 19.8x
TEV/Sales 2.7x
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