Net interest income has recovered to $51.0 million as of 2025Q3, though the net interest margin remains constrained at 0.8% throughout the current fiscal year.
MidWestOne Financial Group, Inc. (MOFG) annual income statement — 29-year revenue, gross profit & net income history
| Metric | TTM | Dec'24 | Dec'23 | Dec'22 | Dec'21 | Dec'20 | Dec'19 | Dec'18 | Dec'17 | Dec'16 | Dec'15 | Dec'14 | Dec'13 | Dec'12 | Dec'11 | Dec'10 | Dec'09 | Dec'08 | Dec'07 | Dec'06 | Dec'05 | Dec'03 | Dec'01 | Dec'00 | Dec'99 | Dec'98 | Dec'97 | Dec'96 | Dec'95 | Dec'94 |
|---|
| Net Interest Income | 197.37M | 157.54M | 144.17M | 166.36M | 156.28M | 152.96M | 143.65M | 105.27M | 103.78M | 99.61M | 90.05M | 54.85M | 53.96M | 53.35M | 48.8M | 47.87M | 45.12M | 39.81M | 19.27M | 18.55M | 24.65M | 22.81M | 18.68M | 17.4M | 15.63M | 15.5M | 14.6M | 14.1M | 11.2M | 8.3M |
| NII Growth % | 160.35% | 9.27% | -13.34% | 6.45% | 2.17% | 6.48% | 36.46% | 1.43% | 4.19% | 10.61% | 64.17% | 1.65% | 1.15% | 9.33% | 1.95% | 6.1% | 13.32% | 106.63% | 3.87% | -24.76% | 8.08% | 22.13% | 7.35% | 11.28% | 0.87% | 6.16% | 3.55% | 25.93% | 34.97% | - |
| Net Interest Margin % | 3.16% | 2.53% | 2.24% | 2.53% | 2.59% | 2.75% | 3.09% | 3.2% | 3.23% | 3.23% | 3.02% | 3.05% | 3.07% | 2.98% | 2.88% | 3.03% | 2.94% | 2.64% | 2.74% | 2.49% | 3.65% | 3.66% | 3.42% | 3.38% | 3.22% | 5.19% | 5.31% | 5.6% | 5.46% | 4.44% |
| Interest Income | 309.37M | 294.27M | 249.61M | 196.76M | 176.77M | 184.79M | 182.44M | 128.82M | 119.32M | 112.33M | 100.7M | 64.4M | 66.09M | 69.3M | 68.58M | 70.98M | 73.36M | 70.21M | 38.3M | 35.31M | 40.08M | 37.58M | 40.1M | 38.83M | 28.83M | 26M | 23.9M | 22.6M | 18.29M | 12.99M |
| Interest Expense | 112M | 136.74M | 105.44M | 30.4M | 20.48M | 31.82M | 38.79M | 22.84M | 15.14M | 12.72M | 10.65M | 9.55M | 12.13M | 15.95M | 19.78M | 23.12M | 28.24M | 30.39M | 19.04M | 16.76M | 15.43M | 14.77M | 21.43M | 21.43M | 13.2M | 10.5M | 9.4M | 8.5M | 7.1M | 4.7M |
| Loan Loss Provision | 17M | 8.78M | 5.85M | 4.49M | -7.34M | 28.37M | 7.16M | 7.3M | 17.33M | 7.98M | 5.13M | 1.2M | 1.35M | 2.38M | 3.35M | 5.95M | 7.72M | 4.37M | 500K | 550K | 468K | 589K | 1.78M | 892K | 3.63M | 1.2M | 400K | 1M | 199.94K | 199.9K |
| Non-Interest Income | 41.48M | -88.25M | 18.42M | 47.52M | 42.45M | 38.62M | 31.25M | 22.5M | 22.36M | 23.43M | 21.22M | 15.31M | 14.73M | 15.55M | 14.9M | 15.62M | 14.92M | 11.74M | 8.81M | 7.57M | 4.43M | 4.36M | 4.29M | 2.57M | 1.95M | 1.9M | 1.8M | 1.5M | 1.3M | 1.5M |
| Non-Interest Income % | 17.37% | -127.36% | 11.33% | 22.22% | 21.36% | 20.16% | 17.87% | 17.61% | 17.72% | 19.05% | 19.07% | 21.83% | 21.44% | 22.57% | 23.39% | 24.6% | 24.86% | 22.77% | 31.37% | 28.99% | 15.23% | 16.04% | 18.67% | 12.85% | 11.07% | 10.92% | 10.98% | 9.62% | 10.4% | 15.31% |
| Total Net Revenue | 238.84M | 69.29M | 162.59M | 213.88M | 198.73M | 191.58M | 174.9M | 127.77M | 126.14M | 123.04M | 111.27M | 70.17M | 68.69M | 68.9M | 63.7M | 63.48M | 60.04M | 51.55M | 28.07M | 26.12M | 29.08M | 27.17M | 22.96M | 19.96M | 17.58M | 17.4M | 16.4M | 15.6M | 12.5M | 9.8M |
| Revenue Growth % | 419.95% | -57.38% | -23.98% | 7.62% | 3.73% | 9.54% | 36.89% | 1.29% | 2.52% | 10.57% | 58.58% | 2.15% | -0.3% | 8.16% | 0.34% | 5.73% | 16.47% | 83.62% | 7.47% | -10.18% | 7.04% | 18.31% | 15.03% | 13.55% | 1.05% | 6.1% | 5.13% | 24.84% | 27.58% | - |
| Non-Interest Expense | 147.07M | 144.5M | 131.91M | 132.79M | 116.59M | 149.89M | 117.53M | 83.22M | 80.12M | 87.81M | 73.2M | 43.41M | 42.09M | 44.77M | 42.43M | 44M | 47.98M | 72.19M | 18.62M | 17.68M | 19.41M | 17.39M | 14.47M | 13.31M | 10.46M | 9M | 8.2M | 7.7M | 6.4M | 5.5M |
| Efficiency Ratio | 61.58% | 208.54% | 81.13% | 62.09% | 58.67% | 78.24% | 67.2% | 65.13% | 63.52% | 71.36% | 65.79% | 61.87% | 61.27% | 64.98% | 66.61% | 69.31% | 79.92% | 140.05% | 66.33% | 67.69% | 66.76% | 64% | 63% | 66.68% | 59.5% | 51.72% | 50% | 49.36% | 51.2% | 56.12% |
| Operating Income | 74.77M | -83.99M | 24.83M | 76.6M | 89.48M | 13.32M | 50.2M | 37.97M | 29.07M | 27.25M | 32.94M | 25.55M | 25.25M | 21.75M | 17.92M | 13.53M | 4.33M | -25.01M | 8.95M | 7.89M | 9.2M | 9.19M | 6.72M | 5.76M | 3.49M | 7.2M | 7.7M | 6.9M | 5.9M | 4.1M |
| Operating Margin % | 31.31% | -121.21% | 15.27% | 35.81% | 45.02% | 6.95% | 28.7% | 29.72% | 23.05% | 22.15% | 29.6% | 36.42% | 36.76% | 31.57% | 28.13% | 21.32% | 7.21% | -48.52% | 31.89% | 30.21% | 31.63% | 33.84% | 29.27% | 28.85% | 19.86% | 41.38% | 46.95% | 44.23% | 47.2% | 41.84% |
| Operating Income Growth % | - | -438.21% | -67.58% | -14.4% | 571.66% | -73.46% | 32.22% | 30.59% | 6.69% | -17.26% | 28.9% | 1.19% | 16.12% | 21.36% | 32.42% | 212.54% | 117.31% | -379.37% | 13.46% | -14.22% | 0.07% | 36.76% | 16.7% | 64.95% | -51.5% | -6.49% | 11.59% | 16.98% | 43.93% | - |
| Pretax Income | 74.77M | -83.99M | 24.83M | 76.6M | 89.48M | 13.32M | 50.2M | 37.97M | 29.07M | 27.25M | 32.94M | 25.55M | 25.25M | 21.75M | 17.92M | 13.53M | 4.33M | -25.01M | 8.95M | 7.89M | 9.2M | 9.19M | 6.72M | 5.76M | 3.49M | 7.2M | 7.7M | 6.9M | 5.9M | 4.1M |
| Pretax Margin % | 31.31% | -121.21% | 15.27% | 35.81% | 45.02% | 6.95% | 28.7% | 29.72% | 23.05% | 22.15% | 29.6% | 36.42% | 36.76% | 31.57% | 28.13% | 21.32% | 7.21% | -48.52% | 31.89% | 30.21% | 31.63% | 33.84% | 29.27% | 28.85% | 19.86% | 41.38% | 46.95% | 44.23% | 47.2% | 41.84% |
| Income Tax | 16.31M | -23.7M | 3.97M | 15.76M | 19.99M | 6.7M | 6.57M | 7.62M | 10.38M | 6.86M | 7.82M | 7.03M | 6.65M | 5.21M | 4.61M | 3.4M | -79K | -450K | 2.31M | 2.09M | 3.11M | 3.27M | 2.37M | 1.76M | 1.27M | 2.6M | 2.6M | 2.4M | 2M | 1.3M |
| Effective Tax Rate % | 21.81% | 28.22% | 16% | 20.58% | 22.34% | 50.29% | 13.09% | 20.06% | 35.69% | 25.17% | 23.74% | 27.52% | 26.32% | 23.97% | 25.72% | 25.15% | -1.82% | 1.8% | 25.75% | 26.52% | 33.82% | 35.54% | 35.2% | 30.54% | 36.37% | 36.11% | 33.77% | 34.78% | 33.9% | 31.71% |
| Net Income | 58.46M | -60.29M | 20.86M | 60.84M | 69.49M | 6.62M | 43.63M | 30.35M | 18.7M | 20.39M | 25.12M | 18.52M | 18.61M | 16.53M | 13.31M | 10.13M | 4.41M | -24.56M | 6.65M | 5.8M | 6.09M | 5.93M | 4.36M | 4M | 2.22M | 4.6M | 5.1M | 4.5M | 3.9M | 2.8M |
| Net Margin % | 24.48% | -87.01% | 12.83% | 28.44% | 34.96% | 3.46% | 24.95% | 23.75% | 14.82% | 16.57% | 22.57% | 26.4% | 27.09% | 24% | 20.9% | 15.96% | 7.34% | -47.65% | 23.68% | 22.2% | 20.93% | 21.81% | 18.97% | 20.04% | 12.64% | 26.44% | 31.1% | 28.85% | 31.2% | 28.57% |
| Net Income Growth % | 179.12% | -389.03% | -65.71% | -12.45% | 949.16% | -84.82% | 43.75% | 62.31% | -8.3% | -18.82% | 35.61% | -0.46% | 12.54% | 24.21% | 31.4% | 129.76% | 117.95% | -469.46% | 14.66% | -4.76% | 2.73% | 36.04% | 8.87% | 80.06% | -51.7% | -9.8% | 13.33% | 15.42% | 39.31% | - |
| Net Income (Continuing) | 58.46M | -60.29M | 20.86M | 60.84M | 69.49M | 6.62M | 43.63M | 30.35M | 18.7M | 20.39M | 25.12M | 18.52M | 18.61M | 16.53M | 13.31M | 10.13M | 4.41M | -24.56M | 6.65M | 5.8M | 6.09M | 5.93M | 4.36M | 4M | 2.22M | 4.6M | 5.1M | 4.5M | 3.9M | 2.8M |
| EPS (Diluted) | 2.82 | -3.54 | 1.33 | 3.87 | 4.37 | 0.41 | 2.93 | 2.48 | 1.55 | 1.78 | 2.42 | 2.19 | 2.18 | 1.96 | 1.47 | 1.07 | 0.42 | -3.09 | 1.29 | 1.71 | 1.36 | 1.16 | 0.68 | 0.66 | 0.56 | 1.20 | 1.33 | 1.19 | 1.03 | 0.99 |
| EPS Growth % | 160.17% | -366.17% | -65.63% | -11.44% | 965.85% | -86.01% | 18.15% | 60% | -12.92% | -26.45% | 10.5% | 0.46% | 11.22% | 33.33% | 37.38% | 154.76% | 113.59% | -339.53% | -24.56% | 25.74% | 17.24% | 70.59% | 3.03% | 17.86% | -53.33% | -9.77% | 11.76% | 15.53% | 4.04% | - |
| EPS (Basic) | - | -3.54 | 1.33 | 3.89 | 4.38 | 0.41 | 2.93 | 2.48 | 1.55 | 1.78 | 2.42 | 2.20 | 2.19 | 1.97 | 1.47 | 1.08 | 0.42 | -3.09 | 1.29 | 1.74 | 1.40 | 1.19 | 0.69 | 0.66 | 0.58 | 1.26 | 1.38 | 1.20 | 1.03 | 0.99 |
| Diluted Shares Outstanding | 20.72M | 17.03M | 15.72M | 15.7M | 15.9M | 16.11M | 14.88M | 12.24M | 12.06M | 11.46M | 10.39M | 8.43M | 8.53M | 8.53M | 8.63M | 8.64M | 8.61M | 7.95M | 5.17M | 3.39M | 4.47M | 3.82M | 3.87M | 4.28M | 3.97M | 3.83M | 3.83M | 3.78M | 3.79M | 2.83M |
Quick answers to the most common questions about buying MOFG stock.
For fiscal year 2024, MidWestOne Financial Group, Inc. (MOFG) reported total revenue of $69.3M. This represents a 607.4% increase compared to $9.8M in 1994.
MidWestOne Financial Group, Inc. (MOFG) reported a net loss of $60.3M for the fiscal year ending 2024.
MidWestOne Financial Group, Inc. (MOFG) reported an operating income of $-84.0M, resulting in an operating profit margin of -40.8%. This margin reflects the operational efficiency of the business before interest and taxes.
MidWestOne Financial Group, Inc. (MOFG) generated $60.5M in gross profit for the year, representing a gross profit margin of 29.4%. This demonstrates the company's core pricing power and production efficiency.
Key Metrics
Top Statement Risk
Agricultural credit concentration
Metrics are mathematically derived from official filings.
Net Interest Income Recovery Momentum
According to quarterly financial disclosures, MOFG's net interest income has demonstrated a notable recovery, climbing from $32.6 million in 2023Q4 to $51.0 million by 2025Q3, suggesting that the bank has successfully navigated the initial pressures of the recent interest rate cycle through improved asset-liability management.
The consistent quarter-over-quarter growth in NII indicates that the bank is effectively repricing its loan portfolio faster than its deposit base, despite the competitive Midwest funding environment. Investors should monitor whether this trajectory remains sustainable as the rate environment potentially shifts, as the current expansion appears heavily reliant on aggressive loan volume growth.
Persistent Net Interest Margin Compression
As reported in recent financial statements, MOFG's net interest margin has remained stagnant at 0.8% throughout 2025, reflecting a persistent inability to expand spreads despite the growth in net interest income, which warrants further investigation into the bank's underlying funding cost structure and competitive pricing pressures.
The compression of the NIM to 0.8% from historical levels suggests that the bank is struggling to pass on higher interest rates to borrowers without incurring significant deposit beta costs. This margin profile implies that the bank's profitability remains highly sensitive to the cost of interest-bearing deposits, which may continue to weigh on earnings if deposit competition intensifies.
Provisioning Volatility and Credit Risk
Based on reported figures, the provision for credit losses spiked to $11.9 million in 2025Q2, a significant deviation from the typical quarterly range of $1.3 million to $2.1 million, suggesting that the bank may be proactively addressing latent credit deterioration within its commercial and agricultural loan portfolios.
The sharp increase in provision expense during 2025Q2 likely reflects management's assessment of heightened risk in specific sectors, potentially tied to the agricultural cycle or commercial real estate exposure. Analysts should scrutinize whether this elevated provisioning is a temporary conservative measure or a precursor to a more sustained period of asset quality degradation.
Earnings Quality and Volatility Concerns
Financial data from 2024Q3 reveals a substantial non-interest income loss of $130.4 million, which resulted in a quarterly net loss of $95.7 million, highlighting significant earnings volatility that may be masking the underlying operational performance of the bank's core trust and wealth management business segments.
This massive one-time impairment suggests that the bank's reported earnings are subject to significant non-recurring shocks, likely related to securities portfolio repositioning or strategic write-downs. Investors should be cautious in extrapolating recent profitability trends, as the bank's bottom line appears susceptible to balance sheet management decisions that can obscure core operational health.