MidWestOne Financial Group, Inc. Reports Earnings Results for the Fourth Quarter and Full Year Ended December 31, 2022
January 26, 2023 at 04:31 pm EST
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MidWestOne Financial Group, Inc. reported earnings results for the fourth quarter and full year ended December 31, 2022. For the fourth quarter, the company reported net interest income was USD 43.56 million compared to USD 38.82 million a year ago. Net income was USD 16 million compared to USD 14.26 million a year ago. Basic earnings per share from continuing operations was USD 1.02 compared to USD 0.91 a year ago. Diluted earnings per share from continuing operations was USD 1.02 compared to USD 0.91 a year ago.
For the full year, net interest income was USD 166.36 million compared to USD 156.28 million a year ago. Net income was USD 60.84 million compared to USD 69.49 million a year ago. Basic earnings per share from continuing operations was USD 3.89 compared to USD 4.38 a year ago. Diluted earnings per share from continuing operations was USD 3.87 compared to USD 4.37 a year ago.
MidWestOne Financial Group, Inc. (MidWestOne) is a financial holding company. MidWestOne is the parent company of MidWestOne Bank (the Bank), which operates banking offices in Iowa, Minnesota, Wisconsin, Florida, and Colorado. MidWestOne provides electronic delivery of financial services through its Website, MidWestOne.bank. The Bank is focused on delivering relationship-based business and personal banking products and services. The Bank provides commercial loans, real estate loans, agricultural loans, credit card loans, and consumer loans. The Bank also provides deposit products, including demand and interest checking accounts, savings accounts, money market accounts, and time deposits. Complementary to its loan and deposit products, the Bank also provides products and services, including treasury management, Zelle, online and mobile banking, credit and debit cards, ATMs, and safe deposit boxes. The Bank also has a trust department and an investment services department.