MidWestOne Financial Group, Inc.
midwestonefinancial.comWhat Do They Do?
Provides commercial and personal banking services—including loans, deposit accounts and wealth management—to businesses, individuals and public entities.
10-K for FY2024, filed Mar 11, 2025The Bank is focused on delivering relationship-based business and personal banking products and services. The Bank provides commercial…View ↗
We provide a range of commercial and retail lending services to businesses, including public sector and non-profit entities, and…View ↗
We offer competitive deposit products and programs that address the needs of customers in each of the local markets that we serve. The…View ↗
We offer private wealth and investment services to help our business and individual clients in meeting their financial goals and preserving…View ↗
How Do They Make Money?
Earns fees from managing customer assets and providing account, card, ATM and merchant services. Trust fees are charged monthly; most account and transaction fees are collected immediately or the following month.
10-K for FY2024, filed Mar 11, 2025Trust and asset management income is primarily comprised of fees earned from the management and administration of trusts and other customer…View ↗
Service charges on deposit accounts consist of account analysis fees (i.e., net fees earned on analyzed business and public checking…View ↗
Fees, exchange, and other service charges are primarily comprised of debit and credit card income, ATM fees, merchant services income, and…View ↗
$60.5M
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10-K for FY2024, filed Mar 11, 2025
$60.5M ↗
Who Are Their Customers?
Businesses and individuals, along with nonprofits and public entities, use the bank’s offices for loans, deposits and wealth services.
10-K for FY2024, filed Mar 11, 2025The Bank is focused on delivering relationship-based business and personal banking products and services. The Bank provides commercial…View ↗
We provide a range of commercial and retail lending services to businesses, including public sector and non-profit entities, and…View ↗
We offer competitive deposit products and programs that address the needs of customers in each of the local markets that we serve. The…View ↗
We offer private wealth and investment services to help our business and individual clients in meeting their financial goals and preserving…View ↗
Do Revenues Turn Into Profits?
Not on paper. It lost $60.3M in FY2024, but brought in more cash than it spent: $60.8M of free cash flow.
How Are They Changing?
- Net income
-
Sources
10-Q for Q3 FY2025, filed Nov 5, 2025
$17MView ↗
- ▲ Now profitable
- vs −$95.7M in Q3 FY2024
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Feb 20, 2026
MidWestOne merged into Nicolet Bankshares
MidWestOne Bank also merged into Nicolet National Bank; MidWestOne shares were exchanged for Nicolet shares.
Sources
8-K, filed Feb 20, 2026
Effective February 13, 2026, MidWestOne Financial Group, Inc. (“MidWestOne”) completed its previously announced merger (the “Merger”) with…View ↗
Shrinking. Revenue fell 63% in 4 years, from $163.2M in FY2020 to $60.5M in FY2024, about 22% a year.
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