MidWestOne Financial Group, Inc. (MOFG) Financial Statements (2025 and earlier)

Company Profile

Business Address 102 SOUTH CLINTON ST.
IOWA CITY, IA 52240
State of Incorp. IA
Fiscal Year End December 31
Industry (SIC) 6022 - State Commercial Banks (benchmarking)
More info Complete Financial Analysis Financial Benchmarking

Balance Sheet (Statement of Financial Position) ($ in thousands)

3/31/2025
MRQ
12/31/2024
12/31/2023
12/31/2022
12/31/2021
12/31/2020
12/31/2019
ASSETS
Current Assets
Cash, cash equivalents, and short-term investments204,89581,71686,435203,83082,48791,811
Cash and cash equivalent204,89581,71686,435203,83082,48773,286
Short-term investments      18,525
Receivables8,2821,5562,366178 2,318
Asset, held-for-sale, not part of disposal group      5,400
Total current assets:213,17783,27288,801204,00882,48799,529
Noncurrent Assets
Finance lease, right-of-use asset, after accumulated amortization159255350446542637
Operating lease, right-of-use asset1,5762,3372,4922,8403,6134,499
Intangible assets, net (including goodwill)94,80786,54692,79282,36287,719124,136
Goodwill69,78862,47762,47762,47762,47791,918
Intangible assets, net (excluding goodwill)25,01924,06930,31519,88525,24232,218
Deferred income tax assets58,12731,21839,07113,8933,8453,530
Total noncurrent assets:154,669120,356134,70599,54195,719132,802
Other undisclosed assets5,868,4836,223,9126,354,3705,721,5795,378,4424,421,242
TOTAL ASSETS:6,236,3296,427,5406,577,8766,025,1285,556,6484,653,573
LIABILITIES AND EQUITY
Liabilities
Current Liabilities
Debt3,186300,264391,873181,368230,789139,349
Total current liabilities:3,186300,264391,873181,368230,789139,349
Noncurrent Liabilities
Long-term debt and lease obligation, including:113,376123,296139,210   
Other undisclosed long-term debt and lease obligation113,376123,296139,210   
Total noncurrent liabilities:113,376123,296139,210   
Other undisclosed liabilities5,560,0715,479,6025,554,0005,316,2854,810,6094,005,242
Total liabilities:5,676,6335,903,1626,085,0835,497,6535,041,3984,144,591
Equity
Equity, attributable to parent559,696524,378492,793527,475515,250508,982
Common stock21,58016,58116,58116,58116,58116,581
Treasury stock, value(21,885)(24,245)(26,115)(24,546)(14,251)(10,466)
Additional paid in capital414,987302,157302,085300,940300,137297,390
Accumulated other comprehensive income (loss)(72,762)(64,899)(89,047)(8,865)24,5924,372
Retained earnings217,776294,784289,289243,365188,191201,105
Total equity:559,696524,378492,793527,475515,250508,982
TOTAL LIABILITIES AND EQUITY:6,236,3296,427,5406,577,8766,025,1285,556,6484,653,573

Income Statement (P&L) ($ in thousands)

3/31/2025
TTM
12/31/2024
12/31/2023
12/31/2022
12/31/2021
12/31/2020
12/31/2019
Revenues154,322230,824197,030177,008184,971183,265
Gain (loss) on disposition of assets for financial service operations(139,952)(18,789)27124218490
Net investment income294,274249,613196,759176,766184,787182,441
Cost of revenue
(Provision for Loan, Lease, and Other Losses)
(8,782)(5,849)(4,492) (27,702)(7,158)
Gross profit:145,540224,975192,538177,008157,269176,107
Operating expenses(35,369)(33,965)(35,958)(30,457)(64,900)(32,671)
Other operating income, net
(Noninterest Income, Other Operating Income)
13,3542,2008,5292,1524,4963,670
Operating income:123,525193,210165,109148,70396,865147,106
Nonoperating income2,0442,4872,3231,9292,0761,297
Bank owned life insurance income2,9262,5002,3052,1622,2261,877
Profit (loss) from real estate operations(882)(13)18(233)(150)(580)
Interest and debt expense(44)(105,441)(30,401)(20,485)(31,823)(38,791)
Income from continuing operations before equity method investments, income taxes:125,52590,256137,031130,14767,118109,612
Other undisclosed loss from continuing operations before income taxes(209,513)(65,423)(60,434)(40,669)(53,796)(59,409)
Income (loss) from continuing operations before income taxes:(83,988)24,83376,59789,47813,32250,203
Income tax expense (benefit)23,699(3,974)(15,762)(19,992)(6,699)(6,573)
Income (loss) from continuing operations:(60,289)20,85960,83569,4866,62343,630
Income before gain (loss) on sale of properties:69,4866,62343,630
Net income (loss) available to common stockholders, diluted:(60,289)20,85960,83569,4866,62343,630

Comprehensive Income ($ in thousands)

3/31/2025
TTM
12/31/2024
12/31/2023
12/31/2022
12/31/2021
12/31/2020
12/31/2019
Net income (loss):(60,289)20,85960,83569,4866,62343,630
Comprehensive income (loss):(60,289)20,85960,83569,4866,62343,630
Other undisclosed comprehensive income (loss), net of tax, attributable to parent(7,863)24,148(80,182)(33,457)20,22010,033
Comprehensive income (loss), net of tax, attributable to parent:(68,152)45,007(19,347)36,02926,84353,663

Statements Sources

The financial statements are based on the Company's filings with the U.S. Securities and Exchange Commission (SEC) through the Electronic Data Gathering, Analysis, and Retrieval system (EDGAR). The information is derived from the 10-K and 10-Q reports submitted to the SEC in XBRL (eXtensible Business Reporting Language) format and presented according to the US GAAP Taxonomy. Please review the original filings for a more detailed information.

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