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Jun 30, 2024
MidwestOne Q2 2024 Earnings Report
Reported financial results for the second quarter of 2024.
Key Takeaways
MidwestOne Financial Group reported a solid quarter with the completion of the sale of their Florida banking operations and an increase in net interest margin. Net income was $15.8 million, or $1.00 per diluted common share, with revenue of $57.9 million.
Completed the sale of Florida banking operations for a 7.5% deposit premium.
Net income reached $15.8 million, equating to $1.00 per diluted common share.
Net interest margin expanded by 8 bps to 2.41%.
Classified loans decreased by 9%, with a net charge-off ratio of 0.05%.
MidwestOne
MidwestOne
MidwestOne Revenue by Segment
Revenue by Segment
Investment Services & Trust Activities Revenue
CapyFin.comService Charges & Fees Revenue
CapyFin.comCard Revenue
CapyFin.comLoan Revenue
CapyFin.comBank-Owned Life Insurance Revenue
CapyFin.comOther Noninterest Income Revenue
CapyFin.com Forward Guidance
The effective income tax rate for 2024 is expected to be 21-23%.