[PART I – FINANCIAL INFORMATION](index=3&type=section&id=PART%20I%20%E2%80%93%20FINANCIAL%20INFORMATION) [Financial Statements (unaudited)](index=4&type=section&id=Item%201.%20Financial%20Statements%20(unaudited)) This section presents the unaudited consolidated financial statements for MidWestOne Financial Group, Inc. as of June 30, 2022, and for the three and six-month periods then ended, including balance sheets, income statements, comprehensive income, shareholders' equity, cash flows, and accompanying notes [Consolidated Balance Sheets](index=4&type=section&id=Consolidated%20Balance%20Sheets) Total assets increased to $6.44 billion by June 30, 2022, driven by loan and securities growth, while shareholders' equity decreased to $488.8 million primarily due to accumulated other comprehensive loss Consolidated Balance Sheets (dollars in thousands) | | June 30, 2022 | December 31, 2021 | | :--- | :--- | :--- | | **Total Assets** | **$6,442,491** | **$6,025,128** | | Total cash and cash equivalents | $83,864 | $203,830 | | Total securities | $2,402,831 | $2,288,110 | | Total loans held for investment, net | $3,558,802 | $3,196,312 | | Goodwill | $62,477 | $62,477 | | **Total Liabilities** | **$5,953,659** | **$5,497,653** | | Total deposits | $5,537,441 | $5,114,519 | | Short-term borrowings | $193,894 | $181,368 | | Long-term debt | $159,168 | $154,879 | | **Total Shareholders' Equity** | **$488,832** | **$527,475** | [Consolidated Statements of Income](index=5&type=section&id=Consolidated%20Statements%20of%20Income) Net income for Q2 2022 was $12.6 million, a decrease from $17.3 million in Q2 2021, primarily due to a shift from a credit loss benefit to an expense and higher noninterest expenses Consolidated Statements of Income (dollars in thousands) | | Three Months Ended June 30, 2022 | Three Months Ended June 30, 2021 | Six Months Ended June 30, 2022 | Six Months Ended June 30, 2021 | | :--- | :--- | :--- | :--- | :--- | | Net interest income | $39,725 | $38,505 | $77,061 | $77,122 | | Credit loss expense (benefit) | $3,282 | $(2,144) | $3,282 | $(6,878) | | Noninterest income | $12,347 | $10,218 | $23,991 | $22,042 | | Noninterest expense | $32,082 | $28,670 | $63,725 | $56,370 | | **Net income** | **$12,621** | **$17,271** | **$26,516** | **$38,919** | | **Earnings - diluted (per share)** | **$0.80** | **$1.08** | **$1.69** | **$2.43** | [Consolidated Statements of Comprehensive Income](index=6&type=section&id=Consolidated%20Statements%20of%20Comprehensive%20Income) Comprehensive loss was $10.6 million for Q2 2022, a significant change from comprehensive income of $23.1 million in Q2 2021, primarily due to a $24.0 million net unrealized loss on available-for-sale debt securities Consolidated Statements of Comprehensive Income (dollars in thousands) | | Three Months Ended June 30, 2022 | Three Months Ended June 30, 2021 | Six Months Ended June 30, 2022 | Six Months Ended June 30, 2021 | | :--- | :--- | :--- | :--- | :--- | | Net income | $12,621 | $17,271 | $26,516 | $38,919 | | Other comprehensive (loss) income, net of tax | $(23,215) | $5,788 | $(56,366) | $(14,764) | | **Comprehensive (loss) income** | **$(10,594)** | **$23,059** | **$(29,850)** | **$24,155** | [Consolidated Statements of Shareholders' Equity](index=7&type=section&id=Consolidated%20Statements%20of%20Shareholders'%20Equity) Total shareholders' equity decreased from $527.5 million at year-end 2021 to $488.8 million at June 30, 2022, mainly due to a $56.4 million other comprehensive loss offsetting net income Consolidated Statements of Shareholders' Equity (dollars in thousands) | | Six Months Ended June 30, 2022 | | :--- | :--- | | **Balance at December 31, 2021** | **$527,475** | | Net income | $26,516 | | Other comprehensive loss | $(56,366) | | Dividends paid on common stock | $(7,448) | | Repurchase of common stock | $(2,299) | | **Balance at June 30, 2022** | **$488,832** | [Consolidated Statements of Cash Flows](index=8&type=section&id=Consolidated%20Statements%20of%20Cash%20Flows) Cash and cash equivalents decreased by $120.0 million for the six months ended June 30, 2022, driven by net cash used in investing and financing activities, partially offset by operating activities Consolidated Statements of Cash Flows (dollars in thousands) | | Six Months Ended June 30, 2022 | Six Months Ended June 30, 2021 | | :--- | :--- | :--- | | Net cash provided by operating activities | $44,076 | $79,289 | | Net cash used in investing activities | $(128,178) | $(276,436) | | Net cash (used in) provided by financing activities | $(35,864) | $177,922 | | **Net decrease in cash and cash equivalents** | **$(119,966)** | **$(19,225)** | [Notes to Consolidated Financial Statements](index=10&type=section&id=Notes%20to%20Consolidated%20Financial%20Statements) This section provides detailed disclosures on the acquisition of Iowa First Bancshares Corp., reclassification of debt securities, loan portfolio analysis, derivatives, goodwill, regulatory capital, and commitments - On June 9, 2022, the Company acquired Iowa First Bancshares Corp. (IOFB) for cash consideration of **$46.7 million**, resulting in a bargain purchase gain of **$1.4 million**[27](index=27&type=chunk)[38](index=38&type=chunk)[39](index=39&type=chunk) - On January 1, 2022, the Company transferred **$1.25 billion** of debt securities from available for sale to held to maturity, with a net unrealized after-tax loss of **$11.5 million** remaining in accumulated other comprehensive loss[43](index=43&type=chunk) - The Allowance for Credit Losses (ACL) increased to **$52.4 million** at June 30, 2022, from **$48.7 million** at year-end 2021, reflecting a **$3.4 million** initial allowance for PCD loans and **$3.1 million** for acquired non-PCD loans[76](index=76&type=chunk) - As of June 30, 2022, both the Company and MidWestOne Bank were considered well-capitalized under regulatory requirements, with a consolidated Total capital to risk-weighted assets ratio of **11.73%**[122](index=122&type=chunk)[223](index=223&type=chunk) [Management's Discussion and Analysis of Financial Condition and Results of Operations](index=43&type=section&id=Item%202.%20Management's%20Discussion%20and%20Analysis%20of%20Financial%20Condition%20and%20Results%20of%20Operations) Management discusses the financial condition and results for Q2 and H1 2022, highlighting the IOFB acquisition, net interest income trends, and the decline in net income due to credit loss expense and increased noninterest expense - Net income for Q2 2022 was **$12.6 million**, a decrease of **$4.7 million** from Q2 2021, primarily due to a **$3.3 million** credit loss expense in 2022 versus a **$2.1 million** benefit in 2021, and a **$3.4 million** increase in noninterest expense[154](index=154&type=chunk)[158](index=158&type=chunk)[172](index=172&type=chunk) - The acquisition of IOFB on June 9, 2022, for **$46.7 million** in cash, significantly impacted the balance sheet, contributing to a **$417.4 million** increase in total assets to **$6.44 billion** at June 30, 2022[150](index=150&type=chunk)[155](index=155&type=chunk) - Tax equivalent net interest margin for Q2 2022 was **2.87%**, a slight decrease from **2.88%** in Q2 2021, as lower loan yields were partially offset by higher investment security yields and lower deposit costs[169](index=169&type=chunk) - Shareholders' equity decreased by **$38.6 million** from year-end 2021 to **$488.8 million** at June 30, 2022, primarily due to a decrease in Accumulated Other Comprehensive Income (AOCI) from unrealized losses on available-for-sale debt securities[222](index=222&type=chunk) [Quantitative and Qualitative Disclosures about Market Risk](index=65&type=section&id=Item%203.%20Quantitative%20and%20Qualitative%20Disclosures%20about%20Market%20Risk) The company manages interest rate risk, its primary market risk, with a hypothetical 100 basis point rate increase decreasing net interest income by 2.0% over twelve months, and maintains diverse liquidity sources - The most significant market risk for the company is interest rate risk, arising from movements in interest rates affecting earnings and capital[245](index=245&type=chunk) Interest Rate Sensitivity (dollars in thousands) | | -100 bp Change | +100 bp Change | +200 bp Change | | :--- | :--- | :--- | :--- | | **June 30, 2022** | | | | | Dollar change | $321 | $(3,290) | $(7,304) | | Percent change | 0.2% | (2.0)% | (4.4)% | - The company maintains multiple sources of liquidity, including **$155.0 million** in unsecured federal funds lines, **$472.0 million** in available FHLB borrowing capacity, and a **$39.2 million** borrowing capacity at the Federal Reserve Bank Discount Window as of June 30, 2022[250](index=250&type=chunk)[251](index=251&type=chunk)[252](index=252&type=chunk) [Controls and Procedures](index=69&type=section&id=Item%204.%20Controls%20and%20Procedures) Management concluded that disclosure controls and procedures were effective as of June 30, 2022, with no material changes to internal control over financial reporting during the quarter - The Company's management concluded that disclosure controls and procedures were effective as of June 30, 2022[264](index=264&type=chunk) - No material changes to the Company's internal controls over financial reporting occurred during the quarter ended June 30, 2022[266](index=266&type=chunk) [PART II – OTHER INFORMATION](index=70&type=section&id=Part%20II) [Legal Proceedings](index=70&type=section&id=Item%201.%20Legal%20Proceedings) The company is involved in various legal actions arising in the normal course of business, with management expecting no material adverse effect on its financial condition - The Company is party to various legal actions in the normal course of business but does not expect them to have a material adverse effect on its financial condition[269](index=269&type=chunk) [Risk Factors](index=70&type=section&id=Item%201A.%20Risk%20Factors) No material changes were reported to the risk factors previously disclosed in the Company's Form 10-K for the fiscal year ended December 31, 2021 - No material changes were reported to the risk factors disclosed in the Company's 2021 Form 10-K[270](index=270&type=chunk) [Unregistered Sales of Equity Securities and Use of Proceeds](index=70&type=section&id=Item%202.%20Unregistered%20Sales%20of%20Equity%20Securities%20and%20Use%20of%20Proceeds) During Q2 2022, the Company repurchased 65,315 shares of common stock at an average price of $29.67 per share, with $3.5 million remaining for future repurchases under the program Common Stock Repurchases | Period | Total Shares Purchased | Average Price Paid per Share | Total Purchased as Part of Program | | :--- | :--- | :--- | :--- | | April 1 - 30, 2022 | 7,662 | $31.46 | 7,662 | | May 1 - 31, 2022 | 32,116 | $29.26 | 31,897 | | June 1 - 30, 2022 | 25,908 | $29.64 | 25,756 | | **Total Q2 2022** | **65,686** | **$29.67** | **65,315** | - As of June 30, 2022, approximately **$3.5 million** remained available for repurchase under the company's share repurchase program, which extends through December 31, 2023[272](index=272&type=chunk) [Exhibits](index=72&type=section&id=Item%206.%20Exhibits) This section lists the exhibits filed with the Form 10-Q, including certifications by key officers and financial statements formatted in Inline XBRL

Iowa City, Iowa Denver, Colorado Naples, Florida Minneapolis, Minnesota Investor Presentation June 30, 2022 Forward-Looking Statements & Non-GAAP Measures Cautionary Note Regarding Forward-Looking Statements This investor presentation contains certain "forward-looking statements" within the meaning of such term in the Private Securities Litigation Reform Act of 1995. We and our representatives may, from time to time, make written or oral statements that are "forward-looking" and provide information other th ...

Midwestone Financial Group, Inc. (NASDAQ:MOFG) Q2 2022 Earnings Conference Call July 29, 2022 12:00 PM ET Company Participants Charles Funk - CEO & Director Barry Ray - CFO & Senior EVP Len Devaisher - President & COO Gary Sims - Senior VP & Chief Credit Officer James Cantrell - CIO, Senior EVP & Treasurer Conference Call Participants Brendan Nosal - Piper Sandler & Co. Terence McEvoy - Stephens Inc. Damon DelMonte - KBW Brian Martin - Janney Montgomery Scott Operator Good morning, and thank you for attendi ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 31, 2022 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission file number 001-35968 MIDWESTONE FINANCIAL GROUP, INC. (Exact name of Registrant as specified in its charter) (State or other jurisdiction of incorporation ...

Financial Data and Key Metrics Changes - The company reported a fourth consecutive quarter of loan growth at approximately 5% linked quarter annualized [3] - Net interest income was $37.3 million, down $1.3 million from the prior year period, but up $2.5 million or 7.5% when excluding PPP income and loan purchase discount accretion [20] - Non-interest income increased to $11.6 million for Q1 2022, primarily due to loan revenue [21] - Total shareholders' equity decreased by $23 million from year-end 2021 due to a $33.2 million negative valuation adjustment on the debt securities portfolio [18] Business Line Data and Key Metrics Changes - Core loans increased by $32.8 million or 4.2% annualized from the linked quarter, led by commercial loans which rose by $35 million or 5.4% [16] - Wealth Management revenue was up 6% quarter-over-quarter, with assets under management increasing by 5% [30] - The company experienced a stable wealth management performance despite negative market conditions [7] Market Data and Key Metrics Changes - Deposits were slightly down from the linked quarter but up 6% from the prior year period [18] - The company noted a significant increase in retail deposit sales, with new money from retail households up 12% compared to the same period last year [29] - Non-performing assets were $31.5 million at March 31, 2022, down slightly from year-end 2021 and down 31% from the prior year period [17] Company Strategy and Development Direction - The company is focused on driving revenue through technology investments and talent acquisition [26] - There is a strong pipeline for commercial loans, particularly in construction loans, which are expected to fund throughout the year [27] - The company is actively monitoring its branch network and adapting to changing customer behaviors, with a noted 11% decrease in branch teller transactions [10] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about the loan growth pipeline and the stability of asset quality, with net charge-offs at 28 basis points [11] - The company anticipates increasing revenues from its Wealth Management Group in the latter half of the year [7] - Management acknowledged the competitive landscape for loans and deposits, indicating a need for strategic adjustments [3][4] Other Important Information - The company reclassified approximately 50% of its debt securities portfolio to held to maturity to mitigate negative impacts from rising rates [19] - The Iowa FIRST transaction is still pending regulatory approval, with management expressing frustration over the delay [12][13] Q&A Session Summary Question: Inquiry about the securities portfolio and potential adjustments - Management confirmed no further adjustments to the securities portfolio are expected and provided details on the variable rate securities held [37][38] Question: Discussion on deposit pricing competition - Management indicated limited opportunities to reprice CDs lower due to local market competition and expressed optimism about maintaining core account rates [42][43] Question: Health of agricultural borrowers - Management reported that agricultural borrowers are in good shape due to favorable crop yields and locked-in input costs for 2022 [46][47] Question: Update on Iowa FIRST transaction - Management provided a positive update on the cooperation from Muscatine Bank and indicated expectations for a potential close in mid-May or June [51][53] Question: Core margin sensitivity to rate changes - Management indicated that for every 100 basis point increase, the margin may benefit by 5 to 10 basis points, assuming successful lagging of deposit increases [64][66] Question: Fee income outlook - Management projected fee income in the range of $9 million to $9.5 million per quarter, excluding the acquisition [72] Question: Impact of branch reductions on savings - Management indicated that any savings from branch reductions would likely be reinvested into technology [73][74]

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 For the transition period from _______ to _______ Commission file number 001-35968 MIDWESTONE FINANCIAL GROUP, INC. (Exact name of Registrant as specified in its charter) (State or Other Jurisdiction of (I.R.S. Employer Incorporation or Organization) Identification Number) Iowa 42-1206172 ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2021 ☐ FORM 10-K TRANSITIO ...

Investor Presentation December 31, 2021 estOne™ GROUP INC. Forward-Looking Statements & Non-GAAP Measures Cautionary Note Regarding Forward-Looking Statements This investor presentation contains certain "forward-looking statements" within the meaning of such term in the Private Securities Litigation Reform Act of 1995. We and our representatives may, from time to time, make written or oral statements that are "forward-looking" and provide information other than historical information. These statements invol ...

MidWestOne Financial Group, Inc. (NASDAQ:MOFG) Q4 2021 Earnings Conference Call January 28, 2022 ET Company Participants Charlie Funk ??? CEO Gary Sims ??? Chief Credit Officer Barry Ray ??? CFO Jim Cantrell ??? Treasurer and CIO Len Devaisher ??? President Conference Call Participants Brendan Nosal ??? Piper Sandler Jeff Rulis ??? D.A. Davidson Terry McEvoy ??? Stephens Damon DelMonte ??? KBW Brian Martin ??? Janney Montgomery Operator Welcome to the Midwest Financial Group Incorporated, Fourth Quarter 202 ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended September 30, 2021 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission file number 001-35968 MIDWESTONE FINANCIAL GROUP, INC. (Exact name of Registrant as specified in its charter) (State or other jurisdiction of incorporation or organization) (I.R.S. Emp ...

MidWestOne Financial Group, Inc. (NASDAQ:MOFG) Q3 2021 Results Conference Call November 2, 2021 12:00 PM ET Company Participants Charlie Funk - CEO Gary Sims - Chief Credit Officer Barry Ray - CFO Jim Cantrell - Treasurer and CIO Len Devaisher - President Conference Call Participants Brendan Nosal - Piper Sandler Jeff Rulis - D.A. Davidson Terry McEvoy - Stephens Damon DelMonte - KBW Ross Haberman - RLH Brian Martin - Janney Montgomery Operator Good day, and welcome to the MidWestOne Financial Group, Inc. T ...