MidWestOne Financial Group Management and Investor Information

MidWestOne Financial Group is a community-focused bank with a strong presence in the Midwest. It offers a range of financial services to individuals and businesses.

The bank's management team is led by Randal J. Klein, who serves as the President and Chief Executive Officer. Klein has been instrumental in driving the bank's growth and success.

MidWestOne Financial Group is committed to providing excellent customer service and has received several awards for its community involvement.

MidWestOne Financial Group operates as the bank holding company for MidWestOne Bank. It provides commercial and retail banking products and services to individuals, businesses, governmental units, and institutional customers.

The company offers a range of deposit products, including noninterest bearing and interest bearing demand deposits, savings, money market, and time deposits accounts.

MidWestOne Financial Group provides commercial, real estate, agricultural, credit card, and consumer loans; and financing arrangements, such as brokered deposits, term deposits, and other financial services.

The company's services cater to various customer segments, including individuals, businesses, and institutional clients.

MidWestOne Financial Group's financial performance in 2023 saw a significant decline. Revenue dropped to $156.75 million, a decrease of 25.14% compared to the previous year.

The company's earnings also took a hit, plummeting to $20.86 million, a decrease of 65.71% from the year before.

MidWestOne Financial Group, Inc. saw a significant fluctuation in sales from 2019 to 2023.

The company's commercial and retail banking and investment management services generated $168 million in 2019.

In 2020, sales from this activity decreased to $163 million.

However, the following year, sales jumped back up to $204 million.

Despite the increase, sales in 2022 remained steady at $209 million.

Unfortunately, by 2023, sales had dropped back down to $157 million.

In 2023, MOFG's revenue was a significant decrease from the previous year, coming in at $156.75 million, a drop of -25.14% from $209.39 million.

The company's earnings also took a hit, plummeting by -65.71% to $20.86 million, a stark contrast to the previous year's performance.

The holdings of MidWestOne Financial Group, Inc. reveal a diverse portfolio with a significant stake in MidWestOne Financial Group, Inc. itself, making up 20.05% of the total.

The company's investment in Apple Inc. is surprisingly minimal, with a holding of 0%.

A closer look at the portfolio shows a notable investment in the Schwab Strategic Trust - Schwab U.S. Large-Cap Value ETF, which accounts for 0.25% of the total.

The Vanguard Scottsdale Funds - Vanguard Russell 1000 Growth ETF also has a presence in the portfolio, with a holding of 0.11%.

Here's a breakdown of the top holdings in the portfolio:

The company's investments in other sectors, such as technology and bonds, are also noteworthy, with a holding of 0% in Microsoft Corporation and a total of 0.04% in the SPDR Series Trust - SPDR Portfolio S&P 500 ETF.

The management team at MidWestOne Financial Group is led by two CEOs, Charles Reeves and Len Devaisher, both with extensive experience in their roles. Charles Reeves has been the CEO since October 31, 2022, while Len Devaisher took over on August 11, 2022.

The company's leadership also includes Barry Ray, the Director of Finance/CFO, who has been in his position since May 31, 2018. Paul Ho-Sing-Loy, the Chief Tech/Sci/R&D Officer, joined the team on June 2, 2024.

Here are the key executives at MidWestOne Financial Group:

Meet the team behind MidWestOne Financial Group, Inc. As of my knowledge cutoff, the company has a diverse group of experienced leaders. Charles Reeves serves as the CEO, a position he has held since October 31, 2022. He's 57 years old and has been instrumental in shaping the company's direction.

Len Devaisher is another key executive, also serving as CEO, but he took on the role earlier, on August 11, 2022. He's 49 years old and brings a wealth of knowledge to the table.

The Director of Finance and Chief Financial Officer is Barry Ray, who has been in this position since May 31, 2018. At 53 years old, he has a deep understanding of the company's financials.

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Here's a breakdown of the key executives:

Paul Ho-Sing-Loy is the Chief Technology, Science, and Research and Development Officer, a role he took on June 2, 2024. At 64 years old, he brings a wealth of experience to the company's tech department. Steven Heimermann is also a key executive, serving as a Corporate Officer/Principal, but his age is not publicly available.

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The board of directors at MidWestOne Financial Group, Inc. is made up of experienced individuals with a range of backgrounds and expertise.

Charles Funk has been a director since 2011 and is currently 70 years old. He has been serving on the board for over a decade.

Kevin Monson has been the Chairman of the board since an unspecified date, and is currently 73 years old. His tenure as Chairman has been long-standing.

Tracy McCormick joined the board in 2011 and is 64 years old. She has been a dedicated director for many years.

Nathaniel Kaeding, a 66-year-old director, was appointed to the board in 2018. He brings a wealth of experience to the table.

Larry Albert, a 74-year-old director, joined the board in 2015 and has been serving for over seven years.

Jennifer Hauschildt, a 55-year-old director, was appointed to the board in 2018 and has been serving for over four years.

Janet Godwin, a 59-year-old director, joined the board in 2019 and has been serving for over three years.

Matthew Hayek, a 55-year-old director, was appointed to the board in 2019 and has been serving for over three years.

Douglas Greeff, a 69-year-old director, joined the board in 2019 and has been serving for over three years.

Charles Reeves, a 57-year-old director, was appointed to the board in 2022 and has been serving for over a year.

Here are the board members, listed in order of their age:

MidWestOne Financial Group is a community-focused bank with a long history of serving the Midwest region. It was founded in 1934 and has since grown to become one of the largest banks in the area.

MidWestOne Financial Group has a strong commitment to its customers and the community it serves. The bank offers a wide range of personal and business banking services, including checking and savings accounts, loans, and investment services.

MidWestOne Financial Group has a strong financial foundation, with a total asset size of over $2.5 billion. This provides a solid base for the bank to continue growing and serving its customers.

The bank has a diverse range of deposit products, including CDs and IRAs, which provide customers with a safe and secure place to save their money.

At MidWestOne Financial Group, they offer a 401(k) plan that allows employees to save for their retirement. This plan is a great way to start building a nest egg for the future.

The plan is designed to be flexible, allowing employees to contribute a portion of their paycheck to their retirement account. The money is then invested in a variety of options to help grow the account over time.

Employees can contribute up to a certain percentage of their income to the plan, and MidWestOne Financial Group will match a portion of those contributions. This means that employees can potentially earn free money to help their retirement savings grow even faster.

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If you need to withdraw funds from your 401(k) account, it's essential to understand the process and potential implications.

You can withdraw your Midwestone Financial Group, Inc. 401(k) funds, but be aware that it may come with significant tax implications and penalties.

To withdraw your 401(k) funds, you'll need to follow these steps:

Remember, cashing out should typically be reserved for emergency circumstances, as it can hamper your retirement savings growth.

A 401(k) plan is a type of employer-sponsored retirement savings plan that allows employees to contribute a portion of their paycheck to their own retirement account.

Contributions to a 401(k) plan are made on a pre-tax basis, which means that the money is deducted from your paycheck before taxes are taken out.

The annual contribution limit for a 401(k) plan is $19,500 in 2022, and if you're 50 or older, you can also make catch-up contributions of up to $6,500.

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Employers may also match a portion of your contributions, which can significantly boost your retirement savings.

The money in your 401(k) account grows tax-deferred, meaning you won't pay taxes on the earnings until you withdraw the money in retirement.

You can typically withdraw money from your 401(k) account starting at age 59 1/2, but you may face penalties for withdrawing money before that age.

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MidWestOne Financial Group has announced a strategic partnership with a leading fintech company to enhance its digital banking capabilities. This partnership is expected to improve the overall customer experience and increase efficiency.

The partnership will enable MidWestOne to offer its customers a more seamless and integrated online banking experience, with features such as mobile deposit and bill pay. MidWestOne is committed to staying at the forefront of banking technology.

MidWestOne Financial Group has been recognized for its commitment to community development, with a $100,000 donation to a local non-profit organization. This donation is part of the company's ongoing efforts to give back to the community.

MidWestOne's commitment to community development is just one aspect of its broader mission to make a positive impact on the lives of its customers and employees.

MidWestOne Financial Group has a long history of providing banking services to the community, dating back to 1869 when it was founded as the Cedar Rapids Savings Bank.

MidWestOne's commitment to community banking is evident in its focus on local decision-making, which allows it to respond quickly to the needs of its customers.

The bank's focus on local decision-making has enabled it to maintain a strong presence in the communities it serves, with over 40 locations across Iowa and Minnesota.

MidWestOne's emphasis on community involvement is reflected in its sponsorship of local events and organizations, such as the Cedar Rapids Kernels baseball team.

MidWestOne's financial performance has been steady, with a net income of $22.7 million in 2020, demonstrating the bank's ability to generate profits while maintaining a strong commitment to its customers and community.

The bank's asset size has also been growing, reaching $2.4 billion in 2020, a testament to its ability to attract and retain customers.

MidWestOne's financial strength is also reflected in its capital levels, which have been consistently above regulatory requirements.

MidWestOne's focus on community banking has enabled it to build strong relationships with its customers, resulting in a high level of customer satisfaction and loyalty.

The equities market for MidWestOne Financial Group, Inc. has seen some notable changes. The 5-day change is +1.66% as of February 13, 2025.

MidWestOne Financial Group, Inc. recently held a Q4 2024 Earnings Call on January 24, 2025, which is an important event for investors.

The company's equity buyback plan was updated on January 23, 2025, as part of a tranche update announced on April 27, 2023.

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