Company Profile
- MidWestOne Financial Group, Inc. (NASDAQ: MOFG) (“MidWestOne” or “the company”) is the BHC for main subsidiary, MidWestOne Bank (“the bank”), which operates 56 branches predominantly in the Midwest/Western region of the U.S., including IA, MN, WI, and CO. Within its legacy markets of Iowa, MOFG reflects the fifth largest deposit market share.
- MidWestOne was formed through an MOE in 2008 with Iowa State Bank & Trust Company. Since that time, organic growth combined with opportunistic M&A to diversify the operating footprint has been the primary focus. The company has completed four acquisitions, including the most recent addition of ~$275 million asset Denver Bankshares, Inc. in 1Q24, which enhanced its presence in the Denver MSA. As such, MOFG now has a presence in four different states, including higher growth MSAs, notably Denver & the Twin Cities. In 2Q24, MOFG completed the sale of its FL-based branches, including $133 million of deposits…