Bank of America Stocks: MidWestOne Financial Group (MOFG) (1983 – )

MidWestOne Financial Group, Inc. (NASDAQ: MOFG) was founded in 1983 and is headquartered in Iowa City, Iowa, USA. It has 771 full-time employees. It is a bank holding company . State, Minnesota, Wisconsin, Florida and Colorado provide commercial and retail banking products and services to individual, corporate, institutional clients and government agencies.

MidWestOne Financial Group Logo

MidWestOne Financial Group, Inc. (MOFG):

MidWestOne Financial Group is a bank holding company headquartered in Iowa City, Iowa. The bank has 57 branches. It is the third largest bank headquartered in Iowa. MidWestOne Financial Group operates in Iowa, Minnesota, Wisconsin, Colorado and Florida.

MidWestOne Financial Group provides deposit products, such as non-interest-bearing and interest-bearing current deposit accounts, interest checking accounts, savings accounts, money market accounts, certificates of deposit and time deposit accounts.

In addition, MidWestOne Financial Group also provides commercial and residential real estate, commercial and industrial, agricultural, consumer and credit card loans.

Furthermore, MidWestOne Financial Group also provides various trust and investment services, including real estate management, personal trust and nature conservation, as well as property management, farm management, investment consulting, retail securities brokerage, financial planning, securities trading, mutual fund sales (fixed And variable) annuities and tax exemptions, traditional unit trusts and custody services.

In addition, MidWestOne Financial Group also provides other products and services, including inventory management, debit cards, ATMs, online banking, mobile banking and safe deposit boxes.

MidWestOne Financial Group mainly provides products and services through a full-service branch (branch) network, including 34 branches in central and eastern Iowa; 13 in the Minneapolis-St. Paul metropolitan area, Minnesota Home branch; 7 branches in western Wisconsin; 1 branch each in Naples and Fort Myers, Florida; 1 branch in Denver, Colorado.

History of MidWestOne Financial Group, Inc. (MOFG):

  • The bank was founded by Ben Summerwill in Iowa City, Iowa in 1934, and was named Iowa State Bank & Trust Company at the time.
  • In 1984, ISB Financial Corp. was established as a subsidiary of Iowa State Bank & Trust Company.
  • In March 2008, ISB Financial merged with MidWestOne Financial Group and adopted MidWestOne as the company name.
  • In April 2011, Chairman W. Richard Summerwill retired.
  • In May 2015, the bank acquired Central Bancshares in Golden Valley, Minnesota for US$134 million in cash and stock.
  • In 2017, MidWestOne Financial Group opened its first branch in Denver, Colorado.
  • In November 2017, Katie A. Lorenson, Chief Financial Officer of MidWestOne Financial Group, resigned.
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