MidWestOne Financial Group
MidWestOne Financial Group is a bank holding company headquartered in Iowa City, Iowa. The bank operates 57 branches.[1] It is the 3rd largest bank headquartered in Iowa. It operates in Iowa, Minnesota, Wisconsin, Colorado, and Florida.[1]
| Type | Public company |
|---|---|
| NASDAQ: MOFG Russell 2000 Component | |
| Industry | Banking |
| Founded | 1934 |
| Headquarters | Iowa City, Iowa, U.S. |
Key people | Charles N. Funk, President & CEO James Cantrell, CFO[1] |
| Revenue |  $0.049 billion (2019)[2] |
| $0.0436 billion (2019)[2] | |
| Total assets | $4.653 billion (2019)[2] |
| Total equity | $0.508 billion (2019)[2] |
Number of employees | 587[1] |
| Website | www |
History
The bank was formed in 1934 as the Iowa State Bank & Trust Company in Iowa City, Iowa by Ben Summerwill.[4]
In 1984, ISB Financial Corp. was established as a closely held bank holding company for Iowa State Bank & Trust Company.
In March 2008, ISB Financial merged with MidWestOne Financial Group and took MidWestOne as the name of the company.[5]
In April 2011, chairman W. Richard Summerwill retired.[6]
In May 2015, the bank acquired Central Bancshares of Golden Valley, Minnesota for $134 million in cash and stock.[7]
In 2017, the bank opened its first branch in Denver, Colorado.[8]
In November 2017, Katie A. Lorenson, the chief financial officer of the company, resigned.[9]
References
- "MidWestOne Financial Group, Inc. 2016 Form 10-K Annual Report". U.S. Securities and Exchange Commission.
- "MidWestOne Financial Group, Inc. Reports Results for the Fourth Quarter and Full Year of 2019 Form 8-K". U.S. Securities and Exchange Commission.
- "MidWestOne Bank".
- Ford, George (February 13, 2011). "Retiring banker says next crisis not matter of if, but when". The Gazette.
- Stempel, Jonathan (September 12, 2007). "ISB, MidWestOne in $96.5 mln Iowa bank merger". Reuters.
- Ford, George (January 20, 2011). "MidwestOne chairman Summerwill retiring, successor named". The Gazette.
- Davis, Paul (November 21, 2014). "MidWestOne in Iowa to Buy Central Bank in Minn. for $134M". American Banker.(subscription required)
- "MidWestOne to open Denver office". The Gazette. February 22, 2017.
- "MidWestOne Financial Group's CFO Katie Lorenson resigned on November 14". Reuters. November 15, 2017.