Last $23.77 USD
Change Today +0.01 / 0.04%
Volume 6.9K
MOFG On Other Exchanges
Symbol
Exchange
NASDAQ GS
As of 4:30 PM 08/21/14 All times are local (Market data is delayed by at least 15 minutes).

midwestone financial group i (MOFG) Snapshot

Open
$23.80
Previous Close
$23.76
Day High
$23.84
Day Low
$23.65
52 Week High
12/26/13 - $29.30
52 Week Low
05/20/14 - $22.50
Market Cap
199.7M
Average Volume 10 Days
9.0K
EPS TTM
$2.23
Shares Outstanding
8.4M
EX-Date
08/27/14
P/E TM
10.7x
Dividend
$0.58
Dividend Yield
2.28%
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 holding company for MidWestOne Bank that provides commercial and retail banking products and services for individuals, businesses, governmental units, and institutional customers in the United States. The company generates deposit products, including noninterest bearing 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 other products and services, including debit cards, automated teller machines, on-line banking, mobile banking, and safe deposit boxes. 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. is headquartered in Iowa City, Iowa.

376 Employees
Last Reported Date: 03/6/14

midwestone financial group i (MOFG) Top Compensated Officers

Chief Executive Officer, President, Director,...
Total Annual Compensation: $363.0K
Chief Financial Officer, Principal Accounting...
Total Annual Compensation: $207.5K
Chief Operating Officer and Chief Operating O...
Total Annual Compensation: $229.0K
Chief Credit Officer, Executive Vice Presiden...
Total Annual Compensation: $227.5K
Chief Risk Officer, Vice President, Chief Ris...
Total Annual Compensation: $186.2K
Compensation as of Fiscal Year 2013.

midwestone financial group i (MOFG) Key Developments

MidWest One Financial Group, Inc. Announces Unaudited Consolidated Earnings Results for the Second Quarter and Six Months Ended June 30, 2014

MidWestOne Financial Group, Inc. announced unaudited consolidated earnings results for the second quarter and six months ended June 30, 2014. For the quarter, the company reported total interest income was $16,176,000 against $16,768,000 a year ago. Net interest income was $13,855,000 against $13,609,000 a year ago. Net interest income after provision for loan losses was $13,555,000 against $13,009,000 a year ago. Income before income tax expense was $6,472,000 against $6,137,000 a year ago. Net income was $4,753,000 or $0.53 per diluted share against $4,531,000 or $0.41 per diluted share a year ago. Return on average assets was 1.09% against 1.02% a year ago. Return on average shareholders’ equity was 10.29% against 10.23% a year ago. Return on average tangible equity (annualized) was 10.99% against 11.05% a year ago. 1.8% increase in net interest income, due primarily to a 26.5% decrease in interest expense. Earnings comparisons between the second quarter of 2014 and the same period in 2013 were driven primarily by 50.0% decrease in the provision for loan loss expense; 1.8% increase in net interest income, due primarily to a 26.5% decrease in interest expense; partially offset by 4.2% decrease in noninterest income, driven by a 55.6% decrease in mortgage loan origination and servicing fees, which was partially offset by increased gains on the sale of investment securities available for sale. For the six months, the company reported total interest income was $32,097,000 against $33,958,000 a year ago. Net interest income was $27,382,000 against $27,400,000 a year ago. Net interest income after provision for loan losses was $26,632,000 against $26,600,000 a year ago. Income before income tax expense was $13,374,000 against $12,715,000 a year ago. Net income was $9,726,000 or $1.09 per diluted share against $9,321,000 or $0.93 per diluted share a year ago. Book value per share as on June 30, 2014 was $22.21 compared to $20.35 as at June 30, 2013. Tangible book value per share as on June 30, 2014 was $21.20 compared to $19.27 as at June 30, 2013. Return on average assets was 1.12 % against 1.06 % a year ago. Return on average shareholders’ equity was 10.70% against 10.65% a year ago. Return on average tangible equity (annualized) was 11.44 % against 11.50 % a year ago. The increase in net income was due primarily to decreased noninterest expense and slightly increased noninterest income, as decreases in interest income were largely offset by corresponding decreases in interest expense. For the quarter, the company reported net charge-offs of $497,000 for the quarter ended June 30, 2013.

MidWest One Financial Group, Inc., Q2 2014 Earnings Call, Jul 25, 2014

MidWest One Financial Group, Inc., Q2 2014 Earnings Call, Jul 25, 2014

MidWest One Financial Group, Inc. Declares Cash Dividend, Payable on September 15, 2014

On July 17, 2014, the Board of Directors of the MidWestOne Financial Group, Inc. declared a cash dividend of $0.145 per share payable on September 15, 2014 to shareholders of record as of the close of business on September 1, 2014.

 

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Industry Analysis

MOFG

Industry Average

Valuation MOFG Industry Range
Price/Earnings 10.6x
Price/Sales 3.0x
Price/Book 1.1x
Price/Cash Flow 10.5x
TEV/Sales NM Not Meaningful
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