Midwestone financial group, inc. (MOFG)
Income statement / Quarterly
Mar'20Dec'19Sep'19Jun'19Mar'19Dec'18Sep'18Jun'18Mar'18Dec'17Sep'17Jun'17Mar'17Dec'16Sep'16Jun'16Mar'16Dec'15Sep'15Jun'15Mar'15Dec'14Sep'14Jun'14Mar'14Dec'13Sep'13Jun'13Mar'13Dec'12Sep'12Jun'12Mar'12Dec'11Sep'11Jun'11Mar'11Sep'10Jun'10
Interest income:
Loans, including fees

42,012

44,906

49,169

40,053

29,035

29,052

28,088

27,486

26,567

26,231

26,206

25,650

24,279

24,068

24,343

24,635

25,116

25,585

26,697

21,685

12,577

12,370

12,151

12,005

11,940

12,222

12,215

12,277

12,114

12,716

12,760

12,799

13,080

13,259

13,128

12,976

12,800

13,777

13,761

Interest and discount on loan pool participations

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

178

620

379

325

532

280

130

226

610

1,080

237

886

401

454

7

311

436

354

552

909

Bank deposits

-

-

-

-

-

-

-

-

-

-

19

26

5

20

63

70

8

41

13

15

1

14

15

5

4

8

2

1

5

25

7

12

10

11

9

8

8

2

17

Federal funds sold

-

-

-

-

-

-

-

-

-

-

0

1

-

-

3

1

-

-

0

0

-

-

-

-

-

-

-

-

-

-

0

1

-

-

0

1

-

0

4

Taxable investment securities

3,717

3,540

3,376

3,289

2,927

2,774

2,715

2,790

2,748

2,282

2,589

2,590

2,718

2,373

2,088

1,912

1,924

2,013

1,914

1,913

1,894

2,161

2,170

2,274

2,316

2,334

2,395

2,546

2,630

2,612

2,654

2,818

2,752

2,677

2,703

2,866

2,688

2,445

2,445

Tax-exempt investment securities

1,512

1,465

1,401

1,424

1,406

1,375

1,395

1,528

1,529

1,540

1,547

1,587

1,565

1,452

1,394

1,420

1,437

1,404

1,365

1,394

1,390

1,379

1,335

1,360

1,381

1,325

1,278

1,334

1,361

1,334

1,279

1,246

1,219

1,140

1,092

1,072

1,035

946

986

Other

164

115

130

185

20

23

12

18

9

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Total interest income

47,405

50,026

54,076

44,951

33,388

33,224

32,210

31,822

30,853

30,144

30,361

29,854

28,567

27,914

27,891

28,038

28,485

29,044

29,989

25,185

16,482

16,311

15,996

16,176

15,921

16,020

16,116

16,768

17,190

16,924

17,586

17,277

17,515

17,094

17,243

17,359

16,885

17,722

18,122

Interest expense:
Interest-bearing checking

-

-

-

-

-

-

-

-

-

-

913

912

798

-

810

776

760

724

706

662

535

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Interest-bearing checking

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

532

547

545

-

544

600

671

726

691

761

829

935

954

994

1,008

1,010

1,133

Savings

-

-

-

-

-

-

-

-

-

-

53

51

51

-

50

60

106

232

48

44

36

37

36

36

36

35

34

35

36

38

36

32

37

36

47

58

59

47

43

Certificates of deposit under $100,000

-

-

-

-

-

-

-

-

-

-

893

886

859

-

801

719

569

687

641

491

626

683

687

634

697

892

987

1,121

1,239

1,366

1,433

1,496

1,590

1,710

1,903

2,120

2,187

2,311

2,455

Certificates of deposit $100,000 and over

-

-

-

-

-

-

-

-

-

-

1,041

995

917

-

813

719

639

323

1,090

467

526

568

551

449

445

519

493

569

633

687

715

754

773

797

827

839

848

859

918

Deposits

7,949

8,251

8,238

7,743

5,695

5,161

4,625

4,009

3,536

3,120

2,900

2,844

2,625

2,557

2,474

2,274

2,074

1,966

2,485

1,664

1,723

1,832

1,806

1,666

1,723

1,993

2,058

2,325

2,579

2,817

2,875

3,043

3,229

3,478

3,731

4,011

4,102

4,227

4,549

Short-term borrowings

334

368

522

500

457

374

321

359

261

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Federal funds purchased

-

-

-

-

-

-

-

-

-

-

81

25

46

17

5

0

25

1

19

2

12

0

2

5

1

1

10

18

9

1

6

2

3

3

2

3

0

4

1

Securities sold under agreements to repurchase

-

-

-

-

-

-

-

-

-

-

53

34

38

37

36

32

53

52

51

43

30

32

28

29

30

32

31

29

36

47

43

47

55

58

65

67

74

75

70

Federal Home Loan Bank borrowings

-

-

-

-

-

-

-

-

-

-

474

404

443

440

469

467

451

365

334

353

399

466

519

545

562

618

671

705

692

741

767

783

803

812

869

868

945

1,170

1,183

Other borrowings

-

-

-

-

-

-

-

-

-

-

3

3

3

3

4

6

6

6

6

6

4

6

5

7

6

7

7

7

8

8

8

9

9

9

9

10

10

10

11

Junior subordinated notes issued to capital trusts

-

-

-

-

-

-

-

-

-

-

243

240

221

217

215

196

197

193

191

136

72

71

69

69

72

72

74

75

75

153

168

167

168

167

165

163

162

157

152

Interest on subordinated notes

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

162

-

-

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Long-term debt

-

-

-

-

-

-

-

-

-

-

115

113

110

113

107

123

124

133

144

96

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Long-term debt

1,716

1,823

2,058

1,876

1,260

1,136

1,153

1,024

882

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Total interest expense

9,999

10,442

10,818

10,119

7,412

6,671

6,099

5,392

4,679

4,127

3,869

3,663

3,486

3,384

3,310

3,098

2,930

2,716

3,230

2,462

2,240

2,407

2,429

2,321

2,394

2,723

2,851

3,159

3,399

3,767

3,867

4,051

4,267

4,527

4,841

5,122

5,293

5,643

5,966

Net interest income

37,406

39,584

43,258

34,832

25,976

26,553

26,111

26,430

26,174

26,017

26,492

26,191

25,081

24,530

24,581

24,940

25,555

26,328

26,759

22,723

14,242

13,904

13,567

13,855

13,527

13,297

13,265

13,609

13,791

13,157

13,719

13,226

13,248

12,567

12,402

12,237

11,592

12,079

12,156

Credit loss expense

21,733

604

4,264

696

1,594

3,250

950

1,250

1,850

10,669

4,384

1,240

1,041

4,742

1,005

1,171

1,065

1,490

2,141

901

600

300

150

300

450

300

250

600

200

650

575

575

579

800

750

900

900

1,250

1,500

Net interest income after credit loss expense

15,673

38,980

38,994

34,136

24,382

23,303

25,161

25,180

24,324

15,348

22,108

24,951

24,040

19,788

23,576

23,769

24,490

24,838

24,618

21,822

13,642

13,604

13,417

13,555

13,077

12,997

13,015

13,009

13,591

12,507

13,144

12,651

12,669

11,767

11,652

11,337

10,692

10,829

10,656

Noninterest income:
Investment services and trust activities

2,536

2,421

2,339

1,890

1,390

1,274

1,222

1,218

1,239

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Service charges and fees

1,826

2,072

2,068

1,870

1,442

1,556

1,512

1,518

1,571

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Card revenue

1,365

1,142

1,655

1,799

998

1,095

1,069

1,093

966

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Loan revenue

1,123

1,757

991

648

393

884

891

906

941

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Trust, investment, and insurance fees

-

-

-

-

-

-

-

-

-

-

1,454

1,528

1,612

1,330

1,306

1,440

1,498

1,363

1,428

1,633

1,581

1,381

1,442

1,430

1,518

1,276

1,297

1,423

1,349

1,228

1,294

1,220

1,253

-

1,159

1,156

-

-

-

Service charges and fees on deposit accounts

-

-

-

-

-

-

-

-

-

-

1,295

1,257

1,283

1,332

1,346

1,283

1,258

1,303

1,297

1,068

733

885

918

848

628

744

786

743

707

823

846

811

767

-

973

955

-

-

-

Loan origination and servicing fees

-

-

-

-

-

-

-

-

-

-

1,012

718

802

965

1,332

855

619

-

1,025

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Other service charges and fees

-

-

-

-

-

-

-

-

-

-

1,625

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Trust, investment, and insurance fees

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

1,273

1,049

1,214

Service charges and fees on deposit accounts

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

851

1,118

1,034

Mortgage origination and loan servicing fees

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

833

238

-

449

318

437

365

1,083

717

1,044

1,064

919

828

767

901

531

382

877

958

525

Other service charges and fees

-

-

-

-

-

-

-

-

-

-

-

1,497

1,458

-

1,307

1,378

1,430

2,042

1,342

1,228

603

511

625

552

619

636

406

596

572

680

303

623

710

536

648

677

679

633

576

Bank-owned life insurance

520

501

514

470

392

381

399

397

433

398

344

318

328

326

324

332

384

343

344

325

295

225

423

225

229

231

230

230

231

277

225

221

230

270

227

225

229

158

147

Insurance commissions

0

0

0

314

420

260

304

319

401

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Investment securities gains, net

42

18

23

32

17

-4

192

-4

9

-

176

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Other

2,743

1,125

414

1,773

358

350

456

246

121

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Gain on sale or call of debt securities available for sale

-

-

-

-

-

-

-

-

-

-

-

20

0

-

0

223

244

0

0

456

555

-

145

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Gain (loss) on sale or call of debt securities held to maturity

-

-

-

-

-

-

-

-

-

-

-

0

43

-

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Impairment losses on investment securities

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

337

-

-

-

-

-

-

0

0

Gain on sale or call of available for sale securities

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

191

783

-

0

4

80

64

8

417

316

60

345

85

0

-158

233

Gain (loss) on sale of premises and equipment

-

-

-

-

-

-

-

-

-

-

-

8

-2

-

-211

-40

-211

-14

-5

-13

3

0

4

-8

3

1

-2

0

-2

-17

0

4,047

158

0

48

-195

-48

-1

-204

Other gain

-

-

-

-

-

-

-

-

-

-

10

37

13

-528

310

124

1,183

-

29

-443

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Total noninterest income

10,155

9,036

8,004

8,796

5,410

5,796

6,045

5,693

5,681

5,915

5,916

5,383

5,537

5,720

5,714

5,595

6,405

6,638

5,460

5,087

4,008

3,534

4,006

3,556

4,217

3,234

3,800

3,713

3,981

4,111

3,258

8,167

4,201

3,630

3,931

3,285

3,861

3,757

3,525

Noninterest expense:
Compensation and employee benefits

16,617

19,246

17,426

16,409

12,579

12,111

13,051

12,225

12,371

12,152

12,039

11,789

11,884

12,014

11,641

13,321

12,645

12,811

12,191

9,994

6,869

6,387

6,337

6,060

6,134

6,031

6,099

6,173

6,293

6,517

6,207

11,988

5,972

5,882

5,703

5,739

5,870

5,838

5,691

Occupancy expense of premises, net

2,341

2,347

2,294

2,127

1,879

1,166

2,643

1,882

1,906

-1,941

2,986

3,033

3,304

3,196

3,293

3,326

3,251

3,390

2,719

2,342

1,524

1,508

1,546

1,634

1,605

1,550

1,580

1,538

1,688

1,505

1,537

1,560

1,644

1,885

1,537

1,498

1,617

1,598

1,630

Equipment

1,880

2,251

2,181

1,914

1,371

1,433

1,341

1,408

1,383

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Legal and professional

1,535

1,797

1,996

3,291

965

1,027

1,861

959

794

971

933

1,036

1,022

1,035

1,014

1,221

946

1,061

959

2,229

680

1,528

724

779

575

606

615

718

683

621

612

793

732

661

799

688

677

696

659

Data processing

1,354

1,492

1,234

1,008

845

875

697

691

688

692

723

548

711

959

599

809

2,573

631

928

668

432

393

357

391

424

360

364

337

391

421

443

369

446

388

406

426

450

421

414

Marketing

1,062

1,147

1,167

869

606

678

672

690

620

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Amortization of intangibles

2,028

1,941

2,583

930

452

503

547

589

657

713

759

804

849

924

970

1,015

1,061

1,135

800

1,228

108

137

136

137

137

165

166

166

166

194

195

195

194

225

223

224

224

-

-

FDIC insurance

448

-72

-42

434

370

429

393

392

319

308

238

352

367

332

412

398

421

339

431

388

239

240

241

240

243

221

255

296

294

295

326

293

310

328

331

356

597

726

705

Communications

457

493

489

377

342

342

341

341

329

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Foreclosed assets, net

-138

-173

-265

-84

-58

-46

131

-145

39

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Other

2,141

5,621

1,849

1,597

1,150

1,169

1,207

1,264

1,200

-1,841

2,066

2,402

2,198

2,646

2,510

2,725

2,549

2,442

2,314

2,997

1,327

1,370

1,478

1,398

1,274

1,292

1,204

1,357

1,479

1,311

1,393

1,382

1,505

1,626

1,312

1,364

1,199

1,605

1,563

Total noninterest expense

30,001

36,436

31,442

29,040

20,617

19,779

22,622

20,586

20,228

20,080

19,744

19,964

20,335

21,106

20,439

22,815

23,446

21,809

20,342

19,846

11,179

11,563

10,819

10,639

10,392

10,225

10,283

10,585

10,994

10,864

10,713

16,580

10,803

10,995

10,311

10,295

10,634

10,884

10,662

(Loss) income before income tax (benefit) expense

-4,173

11,580

15,556

13,892

9,175

9,320

8,584

10,287

9,777

1,183

8,280

10,370

9,242

4,402

8,851

6,549

7,449

9,667

9,736

7,063

6,471

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Income before income tax expense

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

6,604

6,472

6,902

-

6,532

6,137

6,578

5,754

5,689

4,238

6,067

4,402

5,272

4,327

3,919

3,702

3,519

Income tax (benefit) expense

-2,198

-1,791

3,256

3,218

1,890

1,696

1,806

2,131

1,984

2,773

1,938

3,136

2,529

532

2,629

1,794

1,905

1,429

2,121

2,594

1,675

1,668

1,715

1,719

1,929

1,584

1,668

1,606

1,788

1,402

1,451

726

1,635

1,057

1,434

1,104

1,014

916

914

Net (loss) income

-1,975

13,371

12,300

10,674

7,285

7,624

6,778

8,156

7,793

-1,590

6,342

7,234

6,713

3,870

6,222

4,755

5,544

8,238

7,615

4,469

4,796

3,907

4,889

4,753

4,973

4,422

4,864

4,531

4,790

4,352

4,238

3,512

4,432

3,345

3,838

3,223

2,905

2,786

-

Net income

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

2,605

Less: Preferred stock dividends and discount accretion

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

210

218

217

216

217

Net income available to common shareholders

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

3,345

3,628

3,005

2,688

2,570

2,388

Per common share information
Average number of shares outstanding

-

-

-

-

-

-

-

-

-

-

-

-

11,505

-

11,435

11,431

11,416

-

11,406

10,229

8,363

-

8,366

8,428

8,475

-

8,468

8,474

8,493

-

8,483

8,471

8,497

-

8,610

8,627

8,621

8,613

8,612

Diluted average number of shares

-

-

-

-

-

-

-

-

-

-

-

-

11,555

-

11,461

11,453

11,442

-

11,434

10,254

8,394

-

8,391

8,452

8,507

-

8,517

8,517

8,536

-

8,534

8,516

8,528

-

8,640

8,674

8,682

8,642

8,643

Earnings (loss) - basic (in dollars per share)

-0.12

0.85

0.76

0.72

0.60

0.62

0.55

0.67

0.64

-0.14

0.52

0.59

0.58

0.33

0.54

0.42

0.49

0.75

0.67

0.43

0.57

0.46

0.59

0.56

0.59

0.52

0.57

0.54

0.56

0.51

0.50

0.42

0.52

0.39

0.42

0.35

0.31

0.30

0.27

Earnings (loss) - diluted (in dollars per share)

-0.12

0.85

0.76

0.72

0.60

0.62

0.55

0.67

0.64

-0.14

0.52

0.59

0.58

0.34

0.54

0.42

0.48

0.76

0.67

0.42

0.57

0.46

0.59

0.56

0.58

0.52

0.57

0.53

0.56

0.51

0.50

0.41

0.52

0.39

0.42

0.35

0.31

0.30

0.27

Dividends paid (in dollars per share)

0.22

-

0.20

0.20

0.20

-

0.19

0.19

0.19

-

0.17

0.16

0.16

-

0.16

0.16

0.16

-

0.15

0.15

0.15

-

0.14

0.14

0.14

-

0.12

0.12

0.12

-

0.10

0.09

0.09

-

0.06

0.05

0.05

0.05

0.05