Company type | Public company |
---|---|
Nasdaq:
MOFG Russell 2000 Component | |
Industry | Banking |
Founded | 1983 |
Headquarters | Iowa City, Iowa, U.S. |
Key people | Charles N. Reeves,
CEO Barry S. Ray, CFO [1] |
Revenue | $0.049 billion (2019) [2] |
$0.0436 billion (2019) [2] | |
Total assets | $4.653 billion (2019) [2] |
Total equity | $0.508 billion (2019) [2] |
Number of employees | 802 [1] |
Website |
www |
MidWestOne Financial Group, Inc. is a bank holding company headquartered in Iowa City, Iowa. The bank operates 56 branches. [1] It is the 3rd largest bank headquartered in Iowa. It operates in Iowa, Minnesota, Wisconsin, Colorado, and Florida. [1]
The subsidiary bank was formed in 1934 as the Iowa State Bank & Trust Company in Iowa City, Iowa by Ben S. Summerwill. [4]
In 1983, ISB Financial Corp. was established as a closely held bank holding company for Iowa State Bank & Trust Company.
In March 2008, ISB Financial Corp. merged with MidWestOne Financial Group, Inc. and took MidWestOne Financial Group, Inc. as the name of the company. [5]
In April 2011, then-chairman W. Richard Summerwill retired. [6]
In May 2015, the bank acquired Central Bancshares of Golden Valley, Minnesota for $134 million in cash and stock. [7]
In 2017, the bank opened its first branch in Denver, Colorado. [8]
In June 2018, Barry S. Ray was hired as the Chief Financial Officer.
In November 2022, Charles N. Reeves was hired as the Chief Executive Officer.