MidWestOne(US:MOFG)2025-04-25 22:31Financial Performance Highlights - Total assets reached $6.25 billion, a slight increase of 0.3% compared to the previous quarter (4Q24), but a decrease of 7.3% compared to the first quarter of the previous year (1Q24) [6] - Total loans held for investment, net, amounted to $4.30 billion, decreasing by 0.3% from 4Q24 and 2.5% from 1Q24 [6] - Total deposits were $5.49 billion, up 0.2% from 4Q24 but down 1.7% from 1Q24 [6] - Net interest margin, tax equivalent, was 3.44%, a 1 basis point increase from 4Q24 and a 111 basis point increase from 1Q24 [6] - Diluted EPS was $0.73, down 6% from 4Q24 but up 248% from 1Q24 [6] - Adjusted EPS was $0.73, down 5% from 4Q24 but up 152% from 1Q24 [6] Credit Risk Profile - Nonperforming loans ratio was 0.41%, a decrease of 10 basis points from 4Q24 and 25 basis points from 1Q24 [6] - Net charge-off ratio was 0.29%, an increase of 23 basis points from 4Q24 and 27 basis points from 1Q24 [6] - Allowance for credit losses ratio was 1.25%, a decrease of 3 basis points from 4Q24 and 2 basis points from 1Q24 [6] Loan Portfolio - The loan portfolio is diversified, with Commercial Real Estate (CRE-Other) constituting 33%, C&I 27%, and Residential Real Estate 15% of the $4.30 billion portfolio [10] - The loan portfolio yield is 5.71% [10] - Commercial loan growth in targeted regions shows Iowa Metro with a 4% increase (+$44 million), Twin Cities with a 5% increase (+$52 million), and Denver with a 14% increase (+$84 million) [12] Wealth Management - Wealth Management Assets Under Administration reached $14.2 billion in 2024 [22] - Investment Services and Private Wealth Revenue reached $3.15 million in 2024 [25]