Annual Income Statements for MidWestOne Financial Group
This table shows MidWestOne Financial Group's income and expenses over time, based on annual financial data. All values are USD millions unless otherwise specified.
Quarterly Income Statements for MidWestOne Financial Group
This table shows MidWestOne Financial Group's income and expenses over time, based on quarterly financial data. All values are USD millions unless otherwise specified.
Metric |
|
Q3 2022 |
Q4 2022 |
Q1 2023 |
Q2 2023 |
Q3 2023 |
Q4 2023 |
Q1 2024 |
Q2 2024 |
Q3 2024 |
Q4 2024 |
Net Income / (Loss) Attributable to Common Shareholders |
|
18 |
16 |
1.40 |
7.59 |
9.14 |
2.73 |
3.27 |
16 |
-96 |
16 |
Consolidated Net Income / (Loss) |
|
18 |
16 |
1.40 |
7.59 |
9.14 |
2.73 |
3.27 |
16 |
-96 |
16 |
Net Income / (Loss) Continuing Operations |
|
18 |
16 |
1.40 |
7.59 |
9.14 |
2.73 |
3.27 |
16 |
-96 |
16 |
Total Pre-Tax Income |
|
23 |
19 |
1.78 |
9.19 |
11 |
2.52 |
4.23 |
21 |
-130 |
21 |
Total Revenue |
|
58 |
55 |
36 |
46 |
44 |
36 |
44 |
58 |
-93 |
60 |
Net Interest Income / (Expense) |
|
46 |
44 |
40 |
37 |
35 |
33 |
35 |
36 |
38 |
49 |
Total Interest Income |
|
53 |
57 |
59 |
61 |
64 |
65 |
70 |
73 |
74 |
78 |
Loans and Leases Interest Income |
|
40 |
44 |
46 |
50 |
52 |
54 |
58 |
62 |
63 |
62 |
Investment Securities Interest Income |
|
13 |
13 |
13 |
12 |
11 |
11 |
11 |
11 |
10 |
12 |
Other Interest Income |
|
0.01 |
- |
0.24 |
0.07 |
0.37 |
0.23 |
0.42 |
0.24 |
0.79 |
3.76 |
Total Interest Expense |
|
7.69 |
13 |
19 |
24 |
29 |
33 |
35 |
36 |
36 |
29 |
Deposits Interest Expense |
|
5.04 |
9.13 |
15 |
20 |
23 |
27 |
28 |
29 |
29 |
27 |
Short-Term Borrowings Interest Expense |
|
0.77 |
1.96 |
1.79 |
2.12 |
3.72 |
3.50 |
4.98 |
5.41 |
5.04 |
0.12 |
Long-Term Debt Interest Expense |
|
1.89 |
2.11 |
2.12 |
2.15 |
2.15 |
2.13 |
2.10 |
2.08 |
2.02 |
1.89 |
Total Non-Interest Income |
|
13 |
11 |
-4.05 |
8.75 |
9.86 |
3.86 |
9.75 |
22 |
-130 |
11 |
Trust Fees by Commissions |
|
2.88 |
2.67 |
2.93 |
3.12 |
3.00 |
3.19 |
3.50 |
3.50 |
3.41 |
3.78 |
Other Service Charges |
|
7.57 |
6.67 |
4.17 |
4.10 |
4.69 |
4.80 |
4.70 |
16 |
5.51 |
-4.04 |
Net Realized & Unrealized Capital Gains on Investments |
|
-0.16 |
-0.00 |
-13 |
-0.00 |
0.08 |
-5.70 |
0.04 |
0.03 |
-140 |
0.16 |
Other Non-Interest Income |
|
2.30 |
1.60 |
2.02 |
1.53 |
2.09 |
1.57 |
1.52 |
2.19 |
0.88 |
11 |
Provision for Credit Losses |
|
0.64 |
0.57 |
0.93 |
1.60 |
1.55 |
1.77 |
4.69 |
1.27 |
1.54 |
1.29 |
Total Non-Interest Expense |
|
35 |
34 |
33 |
35 |
32 |
32 |
36 |
36 |
36 |
37 |
Salaries and Employee Benefits |
|
20 |
20 |
20 |
20 |
19 |
18 |
21 |
21 |
20 |
21 |
Net Occupancy & Equipment Expense |
|
6.67 |
6.37 |
6.28 |
6.53 |
6.03 |
6.19 |
6.77 |
6.61 |
6.51 |
7.18 |
Marketing Expense |
|
1.14 |
0.95 |
0.99 |
1.14 |
0.78 |
0.70 |
0.60 |
0.64 |
0.62 |
0.79 |
Property & Liability Insurance Claims |
|
0.42 |
0.41 |
0.75 |
0.86 |
0.78 |
0.90 |
0.94 |
1.05 |
0.92 |
0.98 |
Other Operating Expenses |
|
4.57 |
4.52 |
3.95 |
4.41 |
3.93 |
5.05 |
4.69 |
4.89 |
6.33 |
6.29 |
Amortization Expense |
|
1.79 |
1.77 |
1.75 |
1.59 |
1.46 |
1.44 |
1.64 |
1.59 |
1.47 |
1.45 |
Income Tax Expense |
|
4.74 |
3.49 |
0.38 |
1.60 |
2.20 |
-0.21 |
0.96 |
5.05 |
-34 |
4.78 |
Basic Earnings per Share |
|
$1.17 |
$1.02 |
$0.09 |
$0.48 |
$0.58 |
$0.18 |
$0.21 |
$1.00 |
($6.05) |
$1.30 |
Weighted Average Basic Shares Outstanding |
|
- |
15.68M |
15.68M |
15.69M |
15.69M |
15.75M |
15.76M |
15.77M |
20.77M |
20.82M |
Diluted Earnings per Share |
|
$1.17 |
$1.02 |
$0.09 |
$0.48 |
$0.58 |
$0.18 |
$0.21 |
$1.00 |
($6.05) |
$1.30 |
Weighted Average Diluted Shares Outstanding |
|
- |
15.68M |
15.68M |
15.69M |
15.69M |
15.75M |
15.76M |
15.77M |
20.77M |
20.82M |
Weighted Average Basic & Diluted Shares Outstanding |
|
- |
15.68M |
15.68M |
15.69M |
15.69M |
15.75M |
15.76M |
15.77M |
20.77M |
20.82M |
Annual Cash Flow Statements for MidWestOne Financial Group
This table details how cash moves in and out of MidWestOne Financial Group's business through operations, investing, and financing, using annual figures. All values are USD millions unless otherwise specified.
Metric |
2022 |
2023 |
2024 |
Net Change in Cash & Equivalents |
-117 |
-4.71 |
123 |
Net Cash From Operating Activities |
90 |
63 |
63 |
Net Cash From Continuing Operating Activities |
90 |
63 |
63 |
Net Income / (Loss) Continuing Operations |
61 |
21 |
-60 |
Consolidated Net Income / (Loss) |
61 |
21 |
-60 |
Provision For Loan Losses |
4.49 |
5.85 |
8.78 |
Depreciation Expense |
10 |
13 |
7.70 |
Non-Cash Adjustments to Reconcile Net Income |
14 |
18 |
105 |
Changes in Operating Assets and Liabilities, net |
1.32 |
5.49 |
2.36 |
Net Cash From Investing Activities |
-273 |
130 |
312 |
Net Cash From Continuing Investing Activities |
-273 |
130 |
312 |
Purchase of Property, Leasehold Improvements and Equipment |
-2.66 |
-4.06 |
-2.40 |
Purchase of Investment Securities |
-669 |
-381 |
-1,021 |
Sale of Property, Leasehold Improvements and Equipment |
0.03 |
1.24 |
0.01 |
Divestitures |
0.00 |
0.00 |
44 |
Sale and/or Maturity of Investments |
398 |
514 |
1,292 |
Net Cash From Financing Activities |
66 |
-197 |
-252 |
Net Cash From Continuing Financing Activities |
66 |
-197 |
-252 |
Net Change in Deposits |
-109 |
-73 |
-9.09 |
Issuance of Debt |
234 |
-92 |
-330 |
Issuance of Common Equity |
0.00 |
0.00 |
119 |
Repayment of Debt |
-41 |
-16 |
-14 |
Repurchase of Common Equity |
-2.73 |
0.00 |
0.00 |
Payment of Dividends |
-15 |
-15 |
-17 |
Other Financing Activities, Net |
-0.45 |
-0.79 |
-0.81 |
Cash Interest Paid |
28 |
98 |
140 |
Cash Income Taxes Paid |
13 |
3.44 |
7.53 |
Quarterly Cash Flow Statements for MidWestOne Financial Group
This table details how cash moves in and out of MidWestOne Financial Group's business through operations, investing, and financing, using quarterly figures. All values are USD millions unless otherwise specified.
Metric |
|
Q3 2022 |
Q4 2022 |
Q1 2023 |
Q2 2023 |
Q3 2023 |
Q4 2023 |
Q1 2024 |
Q2 2024 |
Q3 2024 |
Q4 2024 |
Net Change in Cash & Equivalents |
|
-5.35 |
7.92 |
-17 |
75 |
-70 |
6.94 |
16 |
3.81 |
100 |
3.03 |
Net Cash From Operating Activities |
|
28 |
18 |
18 |
23 |
15 |
6.74 |
9.59 |
25 |
-2.76 |
31 |
Net Cash From Continuing Operating Activities |
|
28 |
18 |
18 |
23 |
15 |
6.74 |
9.59 |
25 |
-2.76 |
31 |
Net Income / (Loss) Continuing Operations |
|
18 |
16 |
1.40 |
7.59 |
9.14 |
2.73 |
3.27 |
16 |
-96 |
16 |
Consolidated Net Income / (Loss) |
|
18 |
16 |
1.40 |
7.59 |
9.14 |
2.73 |
3.27 |
16 |
-96 |
16 |
Provision For Loan Losses |
|
0.64 |
0.57 |
0.93 |
1.60 |
1.55 |
1.77 |
4.69 |
1.27 |
1.54 |
1.29 |
Depreciation Expense |
|
1.90 |
2.65 |
2.89 |
3.32 |
3.21 |
3.15 |
2.99 |
2.76 |
2.52 |
-0.57 |
Non-Cash Adjustments to Reconcile Net Income |
|
4.53 |
-0.23 |
11 |
0.34 |
0.21 |
6.44 |
-1.17 |
-12 |
104 |
14 |
Changes in Operating Assets and Liabilities, net |
|
2.86 |
-0.99 |
1.56 |
10 |
0.83 |
-7.35 |
-0.19 |
17 |
-15 |
0.34 |
Net Cash From Investing Activities |
|
-74 |
-71 |
133 |
-40 |
-9.31 |
47 |
-38 |
38 |
36 |
277 |
Net Cash From Continuing Investing Activities |
|
-74 |
-71 |
133 |
-40 |
-9.31 |
47 |
-38 |
38 |
36 |
277 |
Purchase of Property, Leasehold Improvements and Equipment |
|
-0.71 |
-0.68 |
-0.40 |
-0.90 |
-0.97 |
-1.78 |
-0.52 |
-0.63 |
-0.22 |
-1.04 |
Purchase of Investment Securities |
|
-134 |
-65 |
-133 |
-99 |
-48 |
-102 |
-128 |
-46 |
-42 |
-805 |
Sale and/or Maturity of Investments |
|
60 |
27 |
265 |
59 |
39 |
150 |
91 |
41 |
78 |
1,083 |
Net Cash From Financing Activities |
|
41 |
61 |
-167 |
92 |
-75 |
-46 |
45 |
-59 |
67 |
-305 |
Net Cash From Continuing Financing Activities |
|
41 |
61 |
-167 |
92 |
-75 |
-46 |
45 |
-59 |
67 |
-305 |
Net Change in Deposits |
|
-61 |
-7.88 |
86 |
-110 |
-82 |
32 |
-35 |
-40 |
-44 |
109 |
Issuance of Debt |
|
- |
209 |
-248 |
218 |
30 |
-92 |
85 |
-8.30 |
-0.87 |
-406 |
Repayment of Debt |
|
106 |
-137 |
-1.29 |
-12 |
-19 |
17 |
-1.25 |
-7.35 |
-3.05 |
-2.80 |
Payment of Dividends |
|
-3.71 |
-3.71 |
-3.80 |
-3.80 |
-3.81 |
-3.81 |
-3.82 |
-3.83 |
-3.83 |
-5.04 |
Other Financing Activities, Net |
|
-0.15 |
-0.05 |
-0.55 |
-0.09 |
-0.10 |
-0.05 |
-0.57 |
0.05 |
-0.29 |
-0.00 |
Cash Interest Paid |
|
8.12 |
10 |
17 |
22 |
27 |
32 |
33 |
31 |
33 |
43 |
Cash Income Taxes Paid |
|
2.06 |
4.99 |
- |
- |
0.34 |
1.98 |
- |
- |
5.29 |
-0.09 |
Annual Balance Sheets for MidWestOne Financial Group
This table presents MidWestOne Financial Group's assets and liabilities at the end of each period, using annual balance sheet data. All values are USD millions unless otherwise specified.
Metric |
2022 |
2023 |
2024 |
Total Assets |
6,578 |
6,428 |
6,236 |
Cash and Due from Banks |
84 |
76 |
72 |
Federal Funds Sold |
0.00 |
0.01 |
0.00 |
Interest Bearing Deposits at Other Banks |
2.45 |
5.48 |
133 |
Trading Account Securities |
2,283 |
1,870 |
1,328 |
Loans and Leases, Net of Allowance |
3,791 |
4,075 |
4,260 |
Loans and Leases |
3,841 |
4,127 |
4,316 |
Allowance for Loan and Lease Losses |
49 |
52 |
55 |
Loans Held for Sale |
0.61 |
1.05 |
0.75 |
Premises and Equipment, Net |
87 |
86 |
91 |
Goodwill |
62 |
62 |
70 |
Intangible Assets |
30 |
24 |
25 |
Other Assets |
237 |
227 |
256 |
Total Liabilities & Shareholders' Equity |
6,578 |
6,428 |
6,236 |
Total Liabilities |
6,085 |
5,903 |
5,677 |
Non-Interest Bearing Deposits |
1,053 |
897 |
951 |
Interest Bearing Deposits |
4,415 |
4,499 |
4,527 |
Short-Term Debt |
392 |
300 |
3.19 |
Long-Term Debt |
139 |
123 |
113 |
Other Long-Term Liabilities |
85 |
84 |
82 |
Commitments & Contingencies |
0.00 |
0.00 |
0.00 |
Total Equity & Noncontrolling Interests |
493 |
524 |
560 |
Total Preferred & Common Equity |
493 |
524 |
560 |
Preferred Stock |
0.00 |
0.00 |
0.00 |
Total Common Equity |
493 |
524 |
560 |
Common Stock |
319 |
319 |
437 |
Retained Earnings |
289 |
295 |
218 |
Treasury Stock |
-26 |
-24 |
-22 |
Accumulated Other Comprehensive Income / (Loss) |
-89 |
-65 |
-73 |
Quarterly Balance Sheets for MidWestOne Financial Group
This table presents MidWestOne Financial Group's assets and liabilities at the end of each period, using quarterly balance sheet data. All values are USD millions unless otherwise specified.
Metric |
|
Q1 2023 |
Q2 2023 |
Q3 2023 |
Q1 2024 |
Q2 2024 |
Q3 2024 |
Total Assets |
|
6,410 |
6,521 |
6,468 |
6,748 |
6,582 |
6,552 |
Cash and Due from Banks |
|
64 |
76 |
71 |
68 |
66 |
72 |
Federal Funds Sold |
|
- |
- |
- |
0.00 |
0.00 |
0.00 |
Interest Bearing Deposits at Other Banks |
|
5.27 |
69 |
3.77 |
29 |
35 |
130 |
Trading Account Securities |
|
2,072 |
2,003 |
1,959 |
1,862 |
1,824 |
1,623 |
Loans and Leases, Net of Allowance |
|
3,870 |
3,968 |
4,014 |
4,359 |
4,233 |
4,275 |
Loans and Leases |
|
3,919 |
4,019 |
4,066 |
4,415 |
4,287 |
4,329 |
Allowance for Loan and Lease Losses |
|
50 |
50 |
52 |
56 |
54 |
54 |
Loans Held for Sale |
|
2.55 |
2.82 |
2.53 |
2.33 |
2.85 |
3.28 |
Premises and Equipment, Net |
|
86 |
86 |
86 |
96 |
92 |
91 |
Goodwill |
|
62 |
62 |
62 |
71 |
69 |
70 |
Intangible Assets |
|
29 |
27 |
26 |
30 |
28 |
26 |
Other Assets |
|
220 |
227 |
244 |
230 |
231 |
262 |
Total Liabilities & Shareholders' Equity |
|
6,410 |
6,521 |
6,468 |
6,748 |
6,582 |
6,552 |
Total Liabilities |
|
6,899 |
6,020 |
5,962 |
6,220 |
6,038 |
5,990 |
Non-Interest Bearing Deposits |
|
6,545 |
898 |
924 |
921 |
882 |
918 |
Interest Bearing Deposits |
|
- |
4,548 |
4,439 |
4,664 |
4,530 |
4,451 |
Short-Term Debt |
|
144 |
362 |
374 |
423 |
415 |
411 |
Long-Term Debt |
|
138 |
126 |
125 |
122 |
115 |
115 |
Other Long-Term Liabilities |
|
72 |
87 |
101 |
90 |
96 |
96 |
Total Equity & Noncontrolling Interests |
|
501 |
501 |
505 |
528 |
543 |
562 |
Total Preferred & Common Equity |
|
501 |
501 |
505 |
528 |
543 |
562 |
Preferred Stock |
|
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
Total Common Equity |
|
501 |
501 |
505 |
528 |
543 |
562 |
Common Stock |
|
318 |
318 |
318 |
317 |
317 |
437 |
Retained Earnings |
|
287 |
291 |
296 |
294 |
306 |
206 |
Treasury Stock |
|
-25 |
-25 |
-24 |
-23 |
-22 |
-22 |
Accumulated Other Comprehensive Income / (Loss) |
|
-79 |
-83 |
-85 |
-61 |
-58 |
-59 |
Annual Metrics And Ratios for MidWestOne Financial Group
This table displays calculated financial ratios and metrics derived from MidWestOne Financial Group's official financial filings.
Metric |
2022 |
2023 |
2024 |
Growth Metrics |
- |
- |
- |
Revenue Growth |
7.62% |
-23.98% |
-57.38% |
EBITDA Growth |
-4.71% |
-56.89% |
-303.96% |
EBIT Growth |
-14.40% |
-67.58% |
-438.21% |
NOPAT Growth |
-12.45% |
-65.71% |
-381.85% |
Net Income Growth |
-12.45% |
-65.71% |
-389.03% |
EPS Growth |
-11.44% |
-65.63% |
-366.17% |
Operating Cash Flow Growth |
-19.03% |
-30.73% |
0.98% |
Free Cash Flow Firm Growth |
-161.88% |
197.46% |
119.93% |
Invested Capital Growth |
18.54% |
-7.42% |
-28.66% |
Revenue Q/Q Growth |
0.00% |
-10.01% |
50.84% |
EBITDA Q/Q Growth |
0.00% |
-30.57% |
16.31% |
EBIT Q/Q Growth |
0.00% |
-40.60% |
18.12% |
NOPAT Q/Q Growth |
0.00% |
-38.89% |
18.12% |
Net Income Q/Q Growth |
0.00% |
-38.89% |
18.41% |
EPS Q/Q Growth |
0.00% |
-38.71% |
24.03% |
Operating Cash Flow Q/Q Growth |
0.00% |
-15.27% |
62.85% |
Free Cash Flow Firm Q/Q Growth |
-111.38% |
109.98% |
236.62% |
Invested Capital Q/Q Growth |
0.00% |
-5.57% |
-37.84% |
Profitability Metrics |
- |
- |
- |
EBITDA Margin |
40.56% |
23.01% |
-110.10% |
EBIT Margin |
35.81% |
15.27% |
-121.21% |
Profit (Net Income) Margin |
28.44% |
12.83% |
-87.01% |
Tax Burden Percent |
79.42% |
84.00% |
71.78% |
Interest Burden Percent |
100.00% |
100.00% |
100.00% |
Effective Tax Rate |
20.58% |
16.00% |
0.00% |
Return on Invested Capital (ROIC) |
6.45% |
2.12% |
-7.24% |
ROIC Less NNEP Spread (ROIC-NNEP) |
6.45% |
2.12% |
-7.79% |
Return on Net Nonoperating Assets (RNNOA) |
5.48% |
1.99% |
-3.88% |
Return on Equity (ROE) |
11.93% |
4.10% |
-11.12% |
Cash Return on Invested Capital (CROIC) |
-10.52% |
9.82% |
26.21% |
Operating Return on Assets (OROA) |
1.22% |
0.38% |
-1.33% |
Return on Assets (ROA) |
0.97% |
0.32% |
-0.95% |
Return on Common Equity (ROCE) |
11.93% |
4.10% |
-11.12% |
Return on Equity Simple (ROE_SIMPLE) |
12.34% |
3.98% |
-10.77% |
Net Operating Profit after Tax (NOPAT) |
61 |
21 |
-59 |
NOPAT Margin |
28.44% |
12.83% |
-84.85% |
Net Nonoperating Expense Percent (NNEP) |
0.00% |
0.00% |
0.55% |
SG&A Expenses to Revenue |
49.99% |
64.61% |
162.01% |
Operating Expenses to Revenue |
62.09% |
81.13% |
208.54% |
Earnings before Interest and Taxes (EBIT) |
77 |
25 |
-84 |
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA) |
87 |
37 |
-76 |
Valuation Ratios |
- |
- |
- |
Price to Book Value (P/BV) |
0.92 |
0.77 |
1.07 |
Price to Tangible Book Value (P/TBV) |
1.13 |
0.92 |
1.29 |
Price to Revenue (P/Rev) |
2.12 |
2.48 |
8.66 |
Price to Earnings (P/E) |
7.46 |
19.34 |
0.00 |
Dividend Yield |
3.27% |
3.77% |
3.36% |
Earnings Yield |
13.41% |
5.17% |
0.00% |
Enterprise Value to Invested Capital (EV/IC) |
0.88 |
0.79 |
0.76 |
Enterprise Value to Revenue (EV/Rev) |
4.20 |
4.58 |
7.39 |
Enterprise Value to EBITDA (EV/EBITDA) |
10.36 |
19.92 |
0.00 |
Enterprise Value to EBIT (EV/EBIT) |
11.73 |
30.01 |
0.00 |
Enterprise Value to NOPAT (EV/NOPAT) |
14.77 |
35.72 |
0.00 |
Enterprise Value to Operating Cash Flow (EV/OCF) |
9.95 |
11.91 |
8.10 |
Enterprise Value to Free Cash Flow (EV/FCFF) |
0.00 |
7.70 |
2.40 |
Leverage & Solvency |
- |
- |
- |
Debt to Equity |
1.08 |
0.81 |
0.21 |
Long-Term Debt to Equity |
0.28 |
0.24 |
0.20 |
Financial Leverage |
0.85 |
0.94 |
0.50 |
Leverage Ratio |
12.35 |
12.79 |
11.68 |
Compound Leverage Factor |
12.35 |
12.79 |
11.68 |
Debt to Total Capital |
51.87% |
44.68% |
17.24% |
Short-Term Debt to Total Capital |
38.27% |
31.68% |
0.47% |
Long-Term Debt to Total Capital |
13.60% |
13.01% |
16.77% |
Preferred Equity to Total Capital |
0.00% |
0.00% |
0.00% |
Noncontrolling Interests to Total Capital |
0.00% |
0.00% |
0.00% |
Common Equity to Total Capital |
48.13% |
55.32% |
82.76% |
Debt to EBITDA |
6.12 |
11.32 |
-1.53 |
Net Debt to EBITDA |
5.13 |
9.14 |
1.16 |
Long-Term Debt to EBITDA |
1.60 |
3.30 |
-1.49 |
Debt to NOPAT |
8.73 |
20.31 |
-1.98 |
Net Debt to NOPAT |
7.31 |
16.39 |
1.50 |
Long-Term Debt to NOPAT |
2.29 |
5.91 |
-1.93 |
Noncontrolling Interest Sharing Ratio |
0.00% |
0.00% |
0.00% |
Liquidity Ratios |
- |
- |
- |
Cash Flow Metrics |
- |
- |
- |
Free Cash Flow to Firm (FCFF) |
-99 |
97 |
213 |
Operating Cash Flow to CapEx |
3,429.31% |
2,222.74% |
2,635.96% |
Free Cash Flow to Firm to Interest Expense |
-3.27 |
0.92 |
1.56 |
Operating Cash Flow to Interest Expense |
2.97 |
0.59 |
0.46 |
Operating Cash Flow Less CapEx to Interest Expense |
2.88 |
0.57 |
0.44 |
Efficiency Ratios |
- |
- |
- |
Asset Turnover |
0.03 |
0.03 |
0.01 |
Fixed Asset Turnover |
2.51 |
1.88 |
0.78 |
Capital & Investment Metrics |
- |
- |
- |
Invested Capital |
1,024 |
948 |
676 |
Invested Capital Turnover |
0.23 |
0.16 |
0.09 |
Increase / (Decrease) in Invested Capital |
160 |
-76 |
-272 |
Enterprise Value (EV) |
898 |
745 |
512 |
Market Capitalization |
454 |
403 |
600 |
Book Value per Share |
$31.44 |
$33.42 |
$26.94 |
Tangible Book Value per Share |
$25.52 |
$27.90 |
$22.38 |
Total Capital |
1,024 |
948 |
676 |
Total Debt |
531 |
424 |
117 |
Total Long-Term Debt |
139 |
123 |
113 |
Net Debt |
445 |
342 |
-88 |
Capital Expenditures (CapEx) |
2.63 |
2.82 |
2.40 |
Net Nonoperating Expense (NNE) |
0.00 |
0.00 |
1.50 |
Net Nonoperating Obligations (NNO) |
531 |
424 |
117 |
Total Depreciation and Amortization (D&A) |
10 |
13 |
7.70 |
Earnings Adjustments |
- |
- |
- |
Adjusted Basic Earnings per Share |
$3.89 |
$1.33 |
($3.54) |
Adjusted Weighted Average Basic Shares Outstanding |
15.68M |
15.75M |
20.82M |
Adjusted Diluted Earnings per Share |
$3.87 |
$1.33 |
($3.54) |
Adjusted Weighted Average Diluted Shares Outstanding |
15.68M |
15.75M |
20.82M |
Adjusted Basic & Diluted Earnings per Share |
$0.00 |
$0.00 |
$0.00 |
Adjusted Weighted Average Basic & Diluted Shares Outstanding |
15.68M |
15.75M |
20.82M |
Normalized Net Operating Profit after Tax (NOPAT) |
61 |
21 |
-59 |
Normalized NOPAT Margin |
28.44% |
12.83% |
-84.85% |
Pre Tax Income Margin |
35.81% |
15.27% |
-121.21% |
Debt Service Ratios |
- |
- |
- |
EBIT to Interest Expense |
2.52 |
0.24 |
-0.61 |
NOPAT to Interest Expense |
2.00 |
0.20 |
-0.43 |
EBIT Less CapEx to Interest Expense |
2.43 |
0.21 |
-0.63 |
NOPAT Less CapEx to Interest Expense |
1.91 |
0.17 |
-0.45 |
Payout Ratios |
- |
- |
- |
Dividend Payout Ratio |
24.44% |
72.95% |
-27.38% |
Augmented Payout Ratio |
28.92% |
72.95% |
-27.38% |
Quarterly Metrics And Ratios for MidWestOne Financial Group
This table displays calculated financial ratios and metrics derived from MidWestOne Financial Group's official financial filings.
Metric |
|
Q3 2022 |
Q4 2022 |
Q1 2023 |
Q2 2023 |
Q3 2023 |
Q4 2023 |
Q1 2024 |
Q2 2024 |
Q3 2024 |
Q4 2024 |
Growth Metrics |
|
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
Revenue Growth |
|
0.00% |
0.00% |
-26.44% |
-12.22% |
-23.81% |
-33.18% |
23.46% |
26.68% |
-308.99% |
64.12% |
EBITDA Growth |
|
23.19% |
0.00% |
-76.43% |
-36.98% |
-41.69% |
-74.38% |
54.62% |
88.94% |
-977.31% |
262.00% |
EBIT Growth |
|
10.74% |
0.00% |
-89.74% |
-44.98% |
-50.82% |
-87.06% |
137.74% |
127.08% |
-1,248.05% |
737.11% |
NOPAT Growth |
|
12.30% |
0.00% |
-89.95% |
-39.83% |
-50.11% |
-82.94% |
134.00% |
108.31% |
-1,097.37% |
498.17% |
Net Income Growth |
|
0.00% |
0.00% |
-89.95% |
-39.83% |
-50.11% |
-82.94% |
134.00% |
108.31% |
-1,147.35% |
498.17% |
EPS Growth |
|
0.00% |
0.00% |
-89.77% |
-40.00% |
-50.43% |
-82.35% |
133.33% |
108.33% |
-1,143.10% |
622.22% |
Operating Cash Flow Growth |
|
187.98% |
0.00% |
-32.77% |
30.11% |
-47.08% |
-62.60% |
-45.52% |
8.34% |
-118.45% |
362.02% |
Free Cash Flow Firm Growth |
|
1,135.13% |
-258.39% |
1,240.02% |
-268.02% |
-211.65% |
154.57% |
-223.49% |
51.42% |
82.39% |
266.11% |
Invested Capital Growth |
|
-100.00% |
18.54% |
-125.06% |
17.49% |
0.00% |
-7.42% |
618.76% |
8.46% |
8.37% |
-28.66% |
Revenue Q/Q Growth |
|
12.00% |
-6.54% |
-33.89% |
26.86% |
-2.78% |
-18.04% |
22.13% |
30.17% |
-260.39% |
164.37% |
EBITDA Q/Q Growth |
|
25.75% |
-11.29% |
-78.91% |
167.89% |
16.36% |
-61.01% |
27.23% |
227.37% |
-640.27% |
116.09% |
EBIT Q/Q Growth |
|
38.02% |
-15.47% |
-90.88% |
416.99% |
23.38% |
-77.76% |
67.61% |
393.80% |
-723.77% |
116.22% |
NOPAT Q/Q Growth |
|
45.13% |
-12.64% |
-91.27% |
443.59% |
20.33% |
-70.12% |
19.74% |
383.91% |
-676.14% |
117.92% |
Net Income Q/Q Growth |
|
45.13% |
-12.64% |
-91.27% |
443.59% |
20.33% |
-70.12% |
19.74% |
383.91% |
-705.01% |
117.06% |
EPS Q/Q Growth |
|
46.25% |
-12.82% |
-91.18% |
433.33% |
20.83% |
-68.97% |
16.67% |
376.19% |
-705.00% |
121.49% |
Operating Cash Flow Q/Q Growth |
|
57.78% |
-36.24% |
-2.28% |
32.33% |
-35.82% |
-54.93% |
42.34% |
163.16% |
-110.93% |
1,228.43% |
Free Cash Flow Firm Q/Q Growth |
|
971.88% |
-116.18% |
817.16% |
-113.51% |
-612.27% |
107.91% |
-1,722.87% |
94.69% |
-158.19% |
264.42% |
Invested Capital Q/Q Growth |
|
-100.00% |
0.00% |
-120.20% |
578.18% |
1.49% |
-5.57% |
13.20% |
-0.03% |
1.41% |
-37.84% |
Profitability Metrics |
|
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
EBITDA Margin |
|
42.80% |
40.63% |
12.96% |
27.37% |
32.75% |
15.58% |
16.23% |
40.82% |
0.00% |
34.36% |
EBIT Margin |
|
39.54% |
35.76% |
4.93% |
20.11% |
25.52% |
6.92% |
9.50% |
36.05% |
0.00% |
35.32% |
Profit (Net Income) Margin |
|
31.41% |
29.36% |
3.88% |
16.61% |
20.56% |
7.50% |
7.35% |
27.32% |
0.00% |
27.32% |
Tax Burden Percent |
|
79.43% |
82.10% |
78.57% |
82.62% |
80.57% |
108.25% |
77.34% |
75.79% |
73.51% |
77.35% |
Interest Burden Percent |
|
100.00% |
100.00% |
100.00% |
100.00% |
100.00% |
100.00% |
100.00% |
100.00% |
100.00% |
100.00% |
Effective Tax Rate |
|
20.57% |
17.90% |
21.43% |
17.38% |
19.43% |
-8.25% |
22.66% |
24.21% |
0.00% |
22.65% |
Return on Invested Capital (ROIC) |
|
0.00% |
6.65% |
2.52% |
3.53% |
7.40% |
1.24% |
2.90% |
4.86% |
0.00% |
2.33% |
ROIC Less NNEP Spread (ROIC-NNEP) |
|
0.00% |
6.65% |
2.52% |
3.53% |
7.40% |
1.24% |
2.90% |
4.86% |
0.00% |
2.33% |
Return on Net Nonoperating Assets (RNNOA) |
|
0.00% |
5.66% |
-0.97% |
3.00% |
7.30% |
1.16% |
-0.46% |
4.73% |
0.00% |
1.16% |
Return on Equity (ROE) |
|
0.00% |
12.31% |
1.55% |
6.53% |
14.70% |
2.40% |
2.44% |
9.58% |
0.00% |
3.49% |
Cash Return on Invested Capital (CROIC) |
|
200.00% |
-10.52% |
0.00% |
-11.35% |
-193.20% |
9.82% |
-117.16% |
-5.11% |
-14.90% |
26.21% |
Operating Return on Assets (OROA) |
|
0.00% |
1.21% |
0.16% |
0.60% |
1.43% |
0.17% |
0.25% |
1.01% |
0.00% |
0.39% |
Return on Assets (ROA) |
|
0.00% |
1.00% |
0.13% |
0.50% |
1.15% |
0.19% |
0.19% |
0.76% |
0.00% |
0.30% |
Return on Common Equity (ROCE) |
|
0.00% |
12.31% |
1.55% |
6.53% |
14.70% |
2.40% |
2.44% |
9.58% |
0.00% |
3.49% |
Return on Equity Simple (ROE_SIMPLE) |
|
0.00% |
0.00% |
9.65% |
8.64% |
6.75% |
0.00% |
4.30% |
5.70% |
-13.14% |
0.00% |
Net Operating Profit after Tax (NOPAT) |
|
18 |
16 |
1.40 |
7.59 |
9.14 |
2.73 |
3.27 |
16 |
-91 |
16 |
NOPAT Margin |
|
31.41% |
29.36% |
3.88% |
16.61% |
20.56% |
7.50% |
7.35% |
27.32% |
0.00% |
27.32% |
Net Nonoperating Expense Percent (NNEP) |
|
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.89% |
0.00% |
SG&A Expenses to Revenue |
|
47.75% |
50.91% |
74.59% |
61.39% |
57.10% |
67.94% |
63.62% |
48.76% |
0.00% |
47.94% |
Operating Expenses to Revenue |
|
59.37% |
63.19% |
92.48% |
76.40% |
70.99% |
88.22% |
79.96% |
61.76% |
0.00% |
62.52% |
Earnings before Interest and Taxes (EBIT) |
|
23 |
19 |
1.78 |
9.19 |
11 |
2.52 |
4.23 |
21 |
-130 |
21 |
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA) |
|
25 |
22 |
4.67 |
13 |
15 |
5.67 |
7.22 |
24 |
-128 |
21 |
Valuation Ratios |
|
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
Price to Book Value (P/BV) |
|
0.00 |
0.92 |
0.72 |
0.64 |
0.61 |
0.77 |
0.69 |
0.65 |
0.80 |
1.07 |
Price to Tangible Book Value (P/TBV) |
|
0.00 |
1.13 |
0.88 |
0.78 |
0.73 |
0.92 |
0.85 |
0.79 |
0.97 |
1.29 |
Price to Revenue (P/Rev) |
|
0.00 |
2.12 |
1.80 |
1.65 |
1.69 |
2.48 |
2.13 |
1.93 |
9.80 |
8.66 |
Price to Earnings (P/E) |
|
0.00 |
7.46 |
7.48 |
7.40 |
8.96 |
19.34 |
16.06 |
11.45 |
0.00 |
0.00 |
Dividend Yield |
|
3.69% |
3.27% |
4.14% |
4.70% |
4.95% |
3.77% |
4.19% |
4.31% |
3.40% |
3.36% |
Earnings Yield |
|
0.00% |
13.41% |
13.37% |
13.52% |
11.16% |
5.17% |
6.23% |
8.74% |
0.00% |
0.00% |
Enterprise Value to Invested Capital (EV/IC) |
|
0.00 |
0.88 |
0.00 |
0.67 |
0.73 |
0.79 |
0.76 |
0.73 |
0.71 |
0.76 |
Enterprise Value to Revenue (EV/Rev) |
|
0.00 |
4.20 |
2.86 |
3.41 |
4.04 |
4.58 |
4.75 |
4.27 |
16.85 |
7.39 |
Enterprise Value to EBITDA (EV/EBITDA) |
|
0.00 |
10.36 |
8.02 |
10.32 |
13.54 |
19.92 |
20.33 |
15.32 |
0.00 |
0.00 |
Enterprise Value to EBIT (EV/EBIT) |
|
0.00 |
11.73 |
9.41 |
12.40 |
17.45 |
30.01 |
29.77 |
20.08 |
0.00 |
0.00 |
Enterprise Value to NOPAT (EV/NOPAT) |
|
0.00 |
14.77 |
11.88 |
15.32 |
21.37 |
35.72 |
35.74 |
25.27 |
0.00 |
0.00 |
Enterprise Value to Operating Cash Flow (EV/OCF) |
|
0.00 |
9.95 |
7.02 |
7.62 |
9.88 |
11.91 |
14.89 |
13.85 |
19.95 |
8.10 |
Enterprise Value to Free Cash Flow (EV/FCFF) |
|
0.45 |
0.00 |
0.53 |
0.00 |
0.00 |
7.70 |
0.00 |
0.00 |
0.00 |
2.40 |
Leverage & Solvency |
|
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
Debt to Equity |
|
0.00 |
1.08 |
0.56 |
0.97 |
0.99 |
0.81 |
1.03 |
0.97 |
0.94 |
0.21 |
Long-Term Debt to Equity |
|
0.00 |
0.28 |
0.28 |
0.25 |
0.25 |
0.24 |
0.23 |
0.21 |
0.20 |
0.20 |
Financial Leverage |
|
0.65 |
0.85 |
-0.38 |
0.85 |
0.99 |
0.94 |
-0.16 |
0.97 |
0.96 |
0.50 |
Leverage Ratio |
|
11.08 |
12.35 |
12.31 |
13.09 |
12.80 |
12.79 |
12.79 |
12.54 |
12.20 |
11.68 |
Compound Leverage Factor |
|
11.08 |
12.35 |
12.31 |
13.09 |
12.80 |
12.79 |
12.79 |
12.54 |
12.20 |
11.68 |
Debt to Total Capital |
|
0.00% |
51.87% |
36.03% |
49.32% |
49.65% |
44.68% |
50.79% |
49.36% |
48.32% |
17.24% |
Short-Term Debt to Total Capital |
|
0.00% |
38.27% |
18.40% |
36.60% |
37.25% |
31.68% |
39.42% |
38.65% |
37.74% |
0.47% |
Long-Term Debt to Total Capital |
|
0.00% |
13.60% |
17.63% |
12.71% |
12.40% |
13.01% |
11.38% |
10.70% |
10.58% |
16.77% |
Preferred Equity to Total Capital |
|
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
Noncontrolling Interests to Total Capital |
|
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
Common Equity to Total Capital |
|
0.00% |
48.13% |
63.97% |
50.68% |
50.35% |
55.32% |
49.21% |
50.64% |
51.68% |
82.76% |
Debt to EBITDA |
|
0.00 |
6.12 |
3.94 |
7.59 |
9.25 |
11.32 |
13.64 |
10.37 |
-5.77 |
-1.53 |
Net Debt to EBITDA |
|
0.00 |
5.13 |
2.97 |
5.34 |
7.86 |
9.14 |
11.19 |
8.38 |
-3.55 |
1.16 |
Long-Term Debt to EBITDA |
|
0.00 |
1.60 |
1.93 |
1.96 |
2.31 |
3.30 |
3.06 |
2.25 |
-1.26 |
-1.49 |
Debt to NOPAT |
|
0.00 |
8.73 |
5.83 |
11.26 |
14.61 |
20.31 |
23.98 |
17.11 |
-7.32 |
-1.98 |
Net Debt to NOPAT |
|
0.00 |
7.31 |
4.40 |
7.93 |
12.41 |
16.39 |
19.68 |
13.82 |
-4.51 |
1.50 |
Long-Term Debt to NOPAT |
|
0.00 |
2.29 |
2.85 |
2.90 |
3.65 |
5.91 |
5.37 |
3.71 |
-1.60 |
-1.93 |
Noncontrolling Interest Sharing Ratio |
|
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
Liquidity Ratios |
|
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
Cash Flow Metrics |
|
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
Free Cash Flow to Firm (FCFF) |
|
891 |
-144 |
1,034 |
-140 |
-995 |
79 |
-1,277 |
-68 |
-175 |
288 |
Operating Cash Flow to CapEx |
|
3,966.71% |
2,660.12% |
7,963.35% |
11,305.34% |
1,536.07% |
476.04% |
1,847.40% |
4,050.08% |
-1,265.14% |
3,001.16% |
Free Cash Flow to Firm to Interest Expense |
|
115.89 |
-10.93 |
53.76 |
-5.73 |
-34.31 |
2.40 |
-36.68 |
-1.86 |
-4.84 |
9.82 |
Operating Cash Flow to Interest Expense |
|
3.67 |
1.37 |
0.92 |
0.95 |
0.52 |
0.21 |
0.28 |
0.69 |
-0.08 |
1.06 |
Operating Cash Flow Less CapEx to Interest Expense |
|
3.58 |
1.31 |
0.90 |
0.95 |
0.48 |
0.16 |
0.26 |
0.68 |
-0.08 |
1.03 |
Efficiency Ratios |
|
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
Asset Turnover |
|
0.00 |
0.03 |
0.03 |
0.03 |
0.06 |
0.03 |
0.03 |
0.03 |
0.01 |
0.01 |
Fixed Asset Turnover |
|
0.00 |
2.51 |
2.38 |
2.23 |
0.00 |
1.88 |
1.88 |
2.06 |
0.52 |
0.78 |
Capital & Investment Metrics |
|
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
Invested Capital |
|
0.00 |
1,024 |
-207 |
989 |
1,004 |
948 |
1,073 |
1,073 |
1,088 |
676 |
Invested Capital Turnover |
|
0.00 |
0.23 |
0.65 |
0.21 |
0.36 |
0.16 |
0.39 |
0.18 |
0.04 |
0.09 |
Increase / (Decrease) in Invested Capital |
|
-873 |
160 |
-1,032 |
147 |
1,004 |
-76 |
1,280 |
84 |
84 |
-272 |
Enterprise Value (EV) |
|
397 |
898 |
574 |
664 |
730 |
745 |
812 |
782 |
774 |
512 |
Market Capitalization |
|
397 |
454 |
361 |
320 |
306 |
403 |
365 |
354 |
450 |
600 |
Book Value per Share |
|
$0.00 |
$31.44 |
$31.94 |
$31.98 |
$32.22 |
$33.42 |
$33.53 |
$34.48 |
$35.64 |
$26.94 |
Tangible Book Value per Share |
|
$0.00 |
$25.52 |
$26.13 |
$26.28 |
$26.61 |
$27.90 |
$27.14 |
$28.31 |
$29.54 |
$22.38 |
Total Capital |
|
0.00 |
1,024 |
783 |
989 |
1,004 |
948 |
1,073 |
1,073 |
1,088 |
676 |
Total Debt |
|
0.00 |
531 |
282 |
488 |
498 |
424 |
545 |
530 |
526 |
117 |
Total Long-Term Debt |
|
0.00 |
139 |
138 |
126 |
125 |
123 |
122 |
115 |
115 |
113 |
Net Debt |
|
0.00 |
445 |
213 |
343 |
424 |
342 |
447 |
428 |
324 |
-88 |
Capital Expenditures (CapEx) |
|
0.71 |
0.68 |
0.22 |
0.21 |
0.97 |
1.42 |
0.52 |
0.62 |
0.22 |
1.04 |
Net Nonoperating Expense (NNE) |
|
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
4.57 |
0.00 |
Net Nonoperating Obligations (NNO) |
|
0.00 |
531 |
-708 |
488 |
498 |
424 |
545 |
530 |
526 |
117 |
Total Depreciation and Amortization (D&A) |
|
1.90 |
2.65 |
2.89 |
3.32 |
3.21 |
3.15 |
2.99 |
2.76 |
2.52 |
-0.57 |
Earnings Adjustments |
|
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
Adjusted Basic Earnings per Share |
|
$0.00 |
$1.02 |
$0.09 |
$0.48 |
$0.58 |
$0.18 |
$0.21 |
$1.00 |
($6.05) |
$1.30 |
Adjusted Weighted Average Basic Shares Outstanding |
|
0.00 |
15.68M |
15.68M |
15.69M |
15.69M |
15.75M |
15.76M |
15.77M |
20.77M |
20.82M |
Adjusted Diluted Earnings per Share |
|
$0.00 |
$1.02 |
$0.09 |
$0.48 |
$0.58 |
$0.18 |
$0.21 |
$1.00 |
($6.05) |
$1.30 |
Adjusted Weighted Average Diluted Shares Outstanding |
|
0.00 |
15.68M |
15.68M |
15.69M |
15.69M |
15.75M |
15.76M |
15.77M |
20.77M |
20.82M |
Adjusted Basic & Diluted Earnings per Share |
|
$0.00 |
$0.00 |
$0.00 |
$0.00 |
$0.00 |
$0.00 |
$0.00 |
$0.00 |
$0.00 |
$0.00 |
Adjusted Weighted Average Basic & Diluted Shares Outstanding |
|
0.00 |
15.68M |
15.68M |
15.69M |
15.69M |
15.75M |
15.76M |
15.77M |
20.77M |
20.82M |
Normalized Net Operating Profit after Tax (NOPAT) |
|
18 |
16 |
1.40 |
7.59 |
9.14 |
1.77 |
3.27 |
16 |
-91 |
16 |
Normalized NOPAT Margin |
|
31.41% |
29.36% |
3.88% |
16.61% |
20.56% |
4.85% |
7.35% |
27.32% |
0.00% |
27.32% |
Pre Tax Income Margin |
|
39.54% |
35.76% |
4.93% |
20.11% |
25.52% |
6.92% |
9.50% |
36.05% |
0.00% |
35.32% |
Debt Service Ratios |
|
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
EBIT to Interest Expense |
|
3.00 |
1.48 |
0.09 |
0.38 |
0.39 |
0.08 |
0.12 |
0.57 |
-3.60 |
0.72 |
NOPAT to Interest Expense |
|
2.38 |
1.21 |
0.07 |
0.31 |
0.32 |
0.08 |
0.09 |
0.43 |
-2.52 |
0.56 |
EBIT Less CapEx to Interest Expense |
|
2.91 |
1.43 |
0.08 |
0.37 |
0.36 |
0.03 |
0.11 |
0.56 |
-3.61 |
0.68 |
NOPAT Less CapEx to Interest Expense |
|
2.29 |
1.16 |
0.06 |
0.30 |
0.28 |
0.04 |
0.08 |
0.42 |
-2.53 |
0.52 |
Payout Ratios |
|
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
Dividend Payout Ratio |
|
0.00% |
24.44% |
30.91% |
34.70% |
44.31% |
72.95% |
67.02% |
49.28% |
-20.67% |
-27.38% |
Augmented Payout Ratio |
|
0.00% |
28.92% |
30.91% |
34.70% |
44.31% |
72.95% |
67.02% |
49.28% |
-20.67% |
-27.38% |
Key Financial Trends
MidWestOne Financial Group (NASDAQ: MOFG) has demonstrated notable fluctuations in its financial performance over the last two years, with the most recent data from Q4 2024 showing recovery from a difficult Q3 2024.
Positive highlights:
- In Q4 2024, MidWestOne reported a net income of $16.33 million, a strong rebound from the significant loss of $95.7 million in Q3 2024.
- Net interest income improved substantially in Q4 2024 to $48.9 million, up from $37.5 million in Q3 2024, driven by stable loans and leases interest income (~$62 million) and increased investment securities interest income.
- Total non-interest income swung positively to $10.8 million in Q4 2024 from a negative $130.4 million in Q3 2024, reflecting recovery in other service charges and net capital gains.
- Operating cash flow from continuing operations turned positive to $31.1 million in Q4 2024 from negative $2.8 million in Q3 2024, indicating improved cash generation from core business activities.
- Loans and leases net of allowance have grown over time, reaching approximately $4.27 billion in Q3 2024 and progressing steadily since 2022, supporting interest income generation.
- The company consistently paid dividends at about $0.2425 per share through 2023 and 2024, demonstrating a commitment to returning value to shareholders despite fluctuations in earnings.
Neutral observations:
- Interest expense increased in 2024 compared to prior years, notably the deposits interest expense rose to $27.3 million in Q4 2024.
- Provision for credit losses remains relatively low but fluctuates quarter to quarter; it was $1.29 million in Q4 2024 versus $1.53 million in Q3 2024, suggesting ongoing credit risk monitoring.
- Balance sheet size has remained relatively stable with total assets around $6.5 billion to $6.7 billion in recent quarters, indicating steady scale.
- Negative accumulated other comprehensive income (AOCI) impacts equity levels, which were around $562 million in Q3 2024, reflecting market value adjustments on certain securities.
Negative points to consider:
- Q3 2024 showed a severe earnings loss (-$95.7 million) largely caused by substantial negative unrealized capital losses, heavily impacting non-interest income and total revenue (which dropped to negative $92.9 million).
- Volatility in net realized and unrealized capital gains and losses on investments has created large swings in profitability, raising concerns about earnings consistency.
- Total non-interest expenses have generally increased, reaching $37.4 million in Q4 2024 from $35.8 million in Q3 2024, which could pressure margins if revenue growth lags.
In summary, MidWestOne Financial Group's financials exhibit resilience despite market-linked earnings volatility, particularly due to swings in investment-related income. The bank's core lending business remains solid with stable interest income growth, and its recent return to profitability and positive cash flow in Q4 2024 are encouraging signs after a challenging Q3. Investors should watch for continuing stability in non-interest income and expense management to support ongoing profitability.
08/29/25 07:16 AM ETAI Generated. May Contain Errors.