MidWestOne Financial Group
Public company | |
Traded as |
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 |
![]() |
![]() | |
Total assets |
![]() |
Total equity |
![]() |
Number of employees | 587[1] |
Website |
www |
MidWestOne Financial Group is a bank holding company headquartered in Iowa City, Iowa. The bank operates 43 branches.[1] It is the 5th largest bank headquartered in Iowa. It operates in Iowa, Minnesota, Wisconsin, Colorado, and Florida.[1]
History
The bank was formed in 1934 as the Iowa State Bank & Trust Company in Iowa City, Iowa by Ben Summerwill.[2]
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 acquired MidWestOne Financial Group and took MidWestOne as the name of the company.[3]
In April 2011, chairman W. Richard Summerwill retired.[4]
In May 2015, the bank acquired Central Bancshares of Golden Valley, Minnesota for $134 million in cash and stock.[5]
In 2017, the bank opened its first branch in Denver, Colorado.[6]
In November 2017, Katie A. Lorenson, the chief financial officer of the company, resigned.[7]
References
- 1 2 3 4 5 6 7 8 "MidWestOne Financial Group, Inc. 2016 Form 10-K Annual Report". U.S. Securities and Exchange Commission.
- ↑ 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.