MOFG
MidWestOne Financial Group, Inc.41.51
-0.15-0.36%
Dec 16, 4:00:00 PM EST
Earnings Call Transcripts
This Quarter (Q4 '25)
No earnings call transcript available yet
Last Quarter (Q3 '25)
FY Q3 '25
NIM flat; Denver TBD
Q&A largely reaffirmed the accretive MidWestOne merger script, but surfaced Nikolay's NIM outlook—flat in Q4 amid cuts, minor year-end giveback. Management hedged Denver enthusiasm, deeming it 'second inning' with options from investment to exit, prioritizing shareholder returns. New nuggets: wealth/employee benefits synergies for MidWestOne customers; talent retention focus amid low overlap. Analysts pressed on Twin Cities growth, culture distance, digital fit—answers qualitative, confident in relationships. Denver's path undecided.
Key Stats
Market Cap
856.47MP/E (TTM)
12.39Basic EPS (TTM)
3.35Dividend Yield
0.02%Recent Filings
8-K
10-Q
Q3 FY2025 results
MidWestOne swung to a $17.0M net income for Q3 ended September 30, 2025, up from a $95.7M loss y/y, with diluted EPS of $0.82 versus $(6.05); net interest income climbed 36% y/y to $51.0M on lower deposit and borrowing costs, while credit loss expense edged to $2.1M amid a $14.6M CRE office charge-off. Loans grew 2% q/q to $4.42B, deposits held steady at $5.48B, and cash swelled to $272M; long-term debt fell after redeeming $65M subordinated notes using $50M new term debt. Redeemed $65M subordinated notes in July using cash and $50M new term note (5-yr maturity, SOFR+1.75%). Non-GAAP metrics not disclosed in the 10-Q. CRE concentrations expose office loans to valuation risks.
8-K
MidWestOne merges into Nicolet
MidWestOne signed a merger agreement with Nicolet on October 23, 2025, in an all-stock deal valued at $864 million, or $41.37 per share via 0.3175 exchange ratio. MidWestOne shareholders get 30% of the combined entity with pro forma $15.3B assets expected H1 2026 close. Boards unanimously approved; $35M termination fee applies. Integration risks loom large.
8-K
Q3 profit $17M, loans grow
MidWestOne posted Q3 net income of $17.0 million, or $0.82 per share, with ROA at 1.09% and NIM steady at 3.57%. Loans grew 3.5% annualized to $4.42B, deposits up 1.7% to $5.48B, while credit metrics improved—criticized loans fell to 4.99%, nonperformers to 0.68%. Elevated $15.3M charge-offs hit from one CRE office loan. Merger costs signal Nicolet tie-up ahead.
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