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Sep 30, 2022
MidwestOne Q3 2022 Earnings Report
Reported financial results, showing improved earnings driven by strengthening fundamentals.
Key Takeaways
MidwestOne Financial Group, Inc. reported net income for the third quarter of 2022 of $18.3 million, or $1.17 per diluted common share. The company saw improvements in net interest margin, annualized core loan growth, nonperforming assets ratio, net charge-off ratio, and efficiency ratio.
Net income for the third quarter was $18.3 million, or $1.17 per diluted common share.
Net interest margin (tax equivalent) expanded 21 basis points (bps) to 3.08%.
Annualized core loan growth (excluding PPP) of 15.72%.
Efficiency ratio improved to 53.67%.
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.comInvestment Securities Gains, Net Revenue
CapyFin.comOther Noninterest Income Revenue
CapyFin.com Forward Guidance
The company expects the effective income tax rate for the full year 2022 to be in the range of 20-22%.